EvoGenix Ltd

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• EvoGenix Ltd
• Building value from antibody therapies

2
EvoGenix key points

• High demand for EvoGenix output
• Continuing pharma focus on antibody technology
  and products

• Building from strength
• Proven technology platform - Simple business
  strategy

• Reduced risk, revenues short term, blue sky
  longer term
• Spread of interests over multiple products
  further investment in selected products to
  achieve higher returns

3
EvoGenix history

• Founded 2001 based on technology from CSIRO
• Strategic review 2004 - focus on high
  growth antibody sector
• Acquired US antibody company Absalus Inc early
  2005 - EvoGenix Inc
• IPO August 2005 (ASXEGX) raised 9 million at
  25c/share
• 21 employees operations in Australia and the
  USA

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Antibody therapeutics - an area of major
opportunity

• Antibodies proven blockbusters new treatment
  opportunities, new markets
• Major companies establishing internal antibody
  capabilities
• Abmaxis/Merck (2006) technology - US80 million
  
• Zenyth/CSL (2006) 3 early products - 108
  million
• CAT/AstraZeneca (2006)- technology and products-
  GBP700 million
• Strong interest from pharma in new product
  opportunities
• Deals in the 50-100m range, plus royalty, on
  preclinical products

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EvoGenix core assets

• Proprietary technology for turning research
  antibodies into products ready for testing in
  patients by
• Humanisation making mouse antibodies more like
  human proteins, to avoid rejection
• Optimisation improving the properties of an
  antibody by making and testing a huge range of
  variants
• Proven through work on several products
• Validated by deals with pharma companies, US Govt
• Demonstrated competitive benefits - Patents and
  extensive know-how block imitators

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EvoGenix business strategy
Proven technology for creating patient-ready
antibody drugs
2. Internal product pipeline

• Technology collaborations

Payments cover laboratory costs Portfolio of
milestone payments (4-6 million) over 5 years,
and royalties on marketed products
License out preclinical or clinical Significant
license payments - expect 30-50m over 5 years
5 to 15 (clinical stage) royalty
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Technology CollaborationsProgress in 2005/6 -
Expectations for 2006/7
CSL
GlaxoSmithKline

• Up to 3 projects optimisation only
• 1st project completed, to target
• 2 payments received
• Results being evaluated by GSK

• Multiple projects hum opt
• 2 projects commenced
• Initial RD payments received
• 1st project for completion end 2006
• 2nd by Q2 07

• For 2006/7
• New projects under existing agreements
• A third partner to be added in 06/07

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Product pipelineCurrent status
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EGX-010 to treat bone lossin licensing phase

• High interest from the pharmaceutical industry in
  drugs for this multibillion dollar, growing
  market (8 bn osteoporosis, 1 bn bone cancer)
• Version of clinically validated protein OPG,
  modified by EvoGene process
• Treatment risk of cancer now completely
  eliminated
• Ability to prevent bone loss fully retained
• Highly effective in a number of standard animal
  studies osteoporosis, bone cancer
• Lower risk development project because of the
  clinical experience with OPG

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EGX-010 to treat bone lossin licensing phase
100

• EGX-010 completely suppresses breakdown of bone
  by human breast cancer (orange)
• EGX-010 reduces ability of tumour to grow in bone
  (green)

50
Proportion of mice showing bone erosion (X-ray)
Proportion of bone occupied with tumour (tumour
growth)
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EGX-220 antiviral antibody optimising to
achieve high potency

• Expand market beyond current US 1 billion low
  potency antibody Synagis
• Targeting the aged population at risk from viral
  lung infections (potential additional market 1
  billion)
• Using optimisation technology to enhance the
  ability of antibody to stop virus growth
• Optimisation phase on track for completion mid
  2007, licensing by 2008

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EGX-150 for lung cancerEvoGenix first clinical
program

• Application in lung cancer (3 billion market)
  melanoma (1.4 billion) substantial unmet needs
• In-licensed (Univ. MASS, USA) April 2006
• 1.7 million grant to support program
• Impressive data on cancer targeting
• Humanisation complete, optimisation by mid 2007
• Planning for clinical development from 2008

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EGX-150 for lung cancerEvoGenix first clinical
program
Human lung cancer growing in mice
The tumour grows rapidly when animals are
treated with an antibody without anti-tumour
activity (black circles) The parent antibody
of EGX-150 completely stops growth of human lung
cancer in mice (open squares) even after
treatment (red arrows) ceases
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New product opportunities

• EGX-140. Antibody for treating adult acute
  leukemia. US800m market
• Targets only cancerous cells allows other blood
  cells to develop normally
• Animal testing to be finished in first half of
  next year decision on promotion to pipeline?
• EGX-160. Antibody for restricting the growth of
  solid tumours
• Potential treatment for solid tumours
  colorectal, breast, prostate ( each gt1 billion
  dollar markets)
• Accessed through a collaboration agreement with
  the US National Cancer Institute

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EGX-160 background

• Target protein, PAMP, discovered at US National
  Cancer Institute
• Market established with antibody Avastin US
  2.3 billion sales in 2006
• PAMP is involved in tumour blood vessel growth -
  may be more important than VEGF, the target for
  Genentech antibody Avastin

PAMP is better at inducing growth of blood
vessels than VEGF
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High quality board and management

• Board chaired by Chris Harris
• Respected former pharma company CEO chair or
  director of several major Australian companies
  Argo, Adelaide Brighton, McGuigan Simeon Wines
• Other directors George Jessup (Cyanamid
  Bionomics) and Robin Beaumont (Pacific Dunlop
  Select Vaccines, GroPep)
• High quality, industry-experienced management
• Strategic, financial, scientific, IP and business
  development
• Expert advisers
• technology
• specific advisers for each project

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Capital structure
As at November 1, 2006
Current market capitalisation approx 60
million Total shares on issue (25c list price)
128.9 million Options
1.33 million Shareholders approx
540
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Financial position End Q1 2006/7

• Cash as at Sept 30, 2006 AUD
  4.7 million
• Burn rate (quarterly) 1.0 million
• Revenues (2005/6) 1.16 million
• Significantly increased revenues from
  technology collaboration in 2005/6
• Revenues 2006/7 and onwards expected to
  escalate through further collaborations, Govt.
  Grants and product licensing

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Longer term outlook

• Continue current strategy, with selected products
  developed to clinical stage
• By 2008/9, 5-6 collaborative projects completed
  1-2 internal products out-licensed
• Substantial revenues from technology projects and
  early products out-licensed
• By 2010-11, impending royalty income (CaT royalty
  stream for Humira antibody sold for US700m)
• 1-2 products advancing in clinical testing for
  even higher value capture joint development
  opportunities

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Milestones 2006/7
Internal pipeline
Technology collaborations

• Complete first GSK project (Q4, 06)
• Complete CSL projects (Q4, 06
  Q2,07)
• Further projects under existing deals
• New partner (Q1, 07)
• 6 projects by end 2008
  
  
  
  

• Complete work on EGX-010 (Q3 06)
• Complete optimisation of EGX-220 and EGX-150
  (Q2, 07)
• Testing in animals 2nd half 2007
• Confirm clinical candidate EGX-150
• Next product for the pipeline (Q2, 07)