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2nd Annual Capital Markets Day
Gene WaltherCEO, Vortex BioSciences, Inc.
Working to beat cancer
Capital Markets Day
June 14, 2016
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A next generation CTC enrichment technology
Topics• Company Overview• Market Need• Vortex Solution• Competitive Landscape• Soft Launch – AACR• Summary
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Executive Summary• Research tools and diagnostics company developing a novel liquid
biopsy technology that could revolutionize cancer research, drug development, diagnosis, monitoring and treatment
• $22B liquid biopsy diagnostic market opportunity*
• >$8B cancer research market opportunity**
• Patented microfluidic technology yields circulating tumor cells (CTCs)
• Vortex outperforms competitors in key fields – purity (specificity) and collection efficiency (sensitivity) based on published data
• Significant growth opportunities as the product pipeline expands from research to also providing clinical information from CTCs
• *J.P. Morgan Liquid Biopsy Report – May 27, 2015• **US NIH spending c$8.2bn on cancer research (source: NIH, 2016), the UK £500m (source: Cancer Research UK)
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The Company• Formed in 2012 based on research done by PECASE (Presidential
Early Career Award for Science and Engineering) winner Dino Di Carlo at UCLA
• Late stage development phase
• Exciting R&D presents near-term growth opportunities in the rapidly growing liquid biopsy market
• Building a pipeline of partners and potential customers to support Research Use Only sales and clinical research
• Experienced leadership team in place to guide development and delivery of first commercial product in early 2017
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Leadership team
Elodie Sollier-Christen, Ph.D
CSO & VP R&D
• President Chiron/Novartis Diagnostics
• CEO Gentura Dx• Deputy Director Bill & Melinda
Gates Foundation
• Ph.D Microfluidics• UCLA, Stanford• Expertise in microdevices
for blood sample prep.
Gene Walther, MBA
CEO
Steve Crouse, MBA
CCO
• SVP FreeSlate• Director BioRad• Invitrogen• Biosource
Bob Englert
VP Manufacturing
• Abbott Laboratories• Biomedtrics• Pelikan Technologies
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CTC Analysis (Viability, Purity, Automation)• Cancer Research • Patient Prognosis• Personalized Therapy• Drug Development & Testing
CTC Enumeration (Efficiency, Cost)• Early Stage Diagnosis• Patient Prognosis• Treatment Outcome Monitoring• Residual Disease
• *JP Morgan liquid biopsy report – May 27, 2015• +US NIH spending c$8.2bn on cancer research (source: NIH, 2016), the UK £500m (source: Cancer Research UK)
CTC potential$22B Clinical market by 2020*
Cancer Research Personalized Medicine
Drug Development Cancer Diagnostic Cancer Monitoring
$8B Research market by 2020+
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Circulating tumor cells (CTCs) detach from a solid tumor and enter the blood stream playing a crucial role in cancer metastasis.
Challenges to CTC isolation• Extremely rare: 1-100 CTCs per mL of blood • Other cells: millions of WBCs and billions of RBCs
per mL of blood
Vortex captures circulating tumor cells…
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The promise has not been realized yet
• CTC enrichment technologies available today are limited by – Complex sample processing– Long processing time– Reliance on cell surface proteins for isolation– Low sample purity– Dilute output volumes that require additional cell
concentration steps. – Poor integration with downstream analytics
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The right tools support achieving clinical validation
CTCs high in purity supporting sensitive,
accurate analysis
Unaltered by labels or reagents and easily
collected
CTC collection unbiased by molecular
characteristics
Clinical SuccessMinimal manual
intervention and integration with assays
10-50% of CTCs are EPCAM -
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Introducing VTX-1
Isolate intact, label free CTCs from whole blood in <1 hour
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[1] Sollier, E. et al. Lab on a chip 14, 63–77 (2014). [2] Che, J. et al., Oncotarget (2016).
Cell trapping enabled by inertial lift forces and microscale vortices.
VTX-1 Technology
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Technology Animation
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The CTC market is crowded• To our knowledge, as for today: 34 CTC companies.• Principle: affinity-based (17), Imaging (7), filtration (5),
active forces (1), size based microfluidics (4).
Affinity Based
Imaging
Filtration
Active Forces
Size Based Microfluidics
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Critical market requirements to achieve leadership
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Category Requirement
Cell recovery >60%
Cell recovery variability Standard deviation of <10%
Cell purity performance The average WBCs/mL will be <80 WBCs/mL
Processing time Processing time for 7.5 mLs of blood processed for 1 cycle will be <1.5 hours. For 3 cycles it will be < 3 hours.
Sample volume 7.5 mLs of whole blood with one consumable.
VTX-1 Workflow
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Genomic AnalysisGenomic analysis is expected to be the primary method of liquid biopsy characterization and cancer diagnosis.
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Vortex’s ValueVortex rapidly enriches CTCs with high efficiency and purity, capturing intact CTCs for immediate downstream genomic analysis. - Higher DNA/RNA yields can be extracted from intact cells vs fixed cells
increasing sensitivity - High CTC purity enables sensitive and specific assays- Enrichment in <1 hour ensures RNA expression has not changed
Cell Culture/CDX/Live Cell AssaysCell culture and CDX models allow scientists and clinicians to explore potential treatments before administering them to the patient.
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Vortex’s ValueVortex enriches intact CTCs with high efficiency, enabling immediate cell culturing or CDX creation. - The fast, gentle process means cells are viable and unharmed. - Cells can be captured directly into a petri dish for culturing - Vortex can easily handle small sample volumes allowing for mouse blood
processing for monitoring CDX and PDX models
Enumeration/IHC/FISHCTC enumeration has been shown to have both prognostic and diagnostic potential. IHC and FISH align well with some existing companion diagnostics and will continue to be a valuable tool.
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Vortex’s ValueVortex reproducibly enriches CTCs with high purity, capturing CTCs directly on a slide chamber for downstream processing.- The elegant process provides the reproducibility needed for clinical
decisions- The rapid, gentle process results in unchanged protein expression - A 300 µL capture volume makes FISH or IHC protocols simple
Protein AnalysisProtein expression levels can be used as a stratifying assay for many potential treatments. While genomic analysis is favored, actual protein expression will be most appropriate for some drug targets.
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Vortex’s ValueVortex rapidly enriches CTCs with high efficiency and high purity, capturing CTCs directly into microwells for downstream protein analysis. - The fast, gentle process means protein expression levels are unchanged- The high purity of the CTCs improves the accuracy and sensitivity of
protein assays
VTX-1 AdvantagesOther CTC Enrichment Systems
Method of CTC separation
Non-contact, label free micro-vortices
Affinity or size based filters
Upfront sample prep None required RBC lysis, buffy coat collection, affinity incubation
Sample processing time for 7.5mL blood
1 – 1.5 hour 2-6 hours after pre-processing
WBCs/mL of blood (purity)
30-150 250-10,000
Integration with assays Cells are collected in containers of choice in 300 uL
Cells are difficult to retrieve and require cell concentration and cell transfers
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Broad Interest in Vortex
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Scientists/Researchers like the approach
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Scientists like Vortex’s
technology
No Pre-Processing
Rapid Processing
Time
High Purity Simplicity = Reproducible
Flexibility of the System
Easy Analytics
CTCs complement ctDNA analysis
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High sensitivity for most cancers with large amounts in the bloodSimplicity with direct DNA extraction from the blood
ctDNA Provides Tremendous Value
However, CTCs Offer Many Advantages
Allows for Protein, RNA and Genomic
AnalysisWhole
Genome Analysis is Possible
Provides Heterogeneity
of DiseaseCell
Culture/CDX Allows for Therapy Testing
Mechanisms of Metastasis
Can Be Explored
Provides Real Time Analysis
of Disease
Trends are driving renewed interest in CTCs
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Mutations found in the primary and secondary tumors sometimes show up in only CTC or ctDNA
Stopping metastasis (and understanding mechanisms of metastasis) vs killing the tumor is becoming a key area for
future therapeutics
Interest in heterogeneity of disease and how cancer evolves
Interest in RNA expression as an indicator of disease
Interest in CDX and PDX models of disease
Interest in immune checkpoints and ongoing identification of neoantigens for immunotherapy
VTX-1 Commercial Launch 1H 2017
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Key Dates Soft Research Market Launch, April 2016Global Commercial Launch, 1H 2017
Instrument price pricing study to determine pricing
Cartridge priceTarget GP %
pricing study to determine pricing
Key Partnerships
Gener8 selected as contract manufacturer for VTX-1
Sales Strategy Direct to user (US), academic and industryInternationally (TBD)
EPFL SRA
CTC Enrichment Platforms VTX-n 2016 2017 2018 2019 2020 2020+
VTX-1Capture of intact CTCs
Flexible CTC Collection
VTX-2Capture of intact CTCs
Label-free Enumeration
VTX-3
Capture of intact CTCs
Label-free Enumeration
Single Cell Release & Encapsulation
OR Electroporation
System Integration RUO Commercial Product
SRA - EPFLRUO Commercial Product
Vortex Development
SRA - UCLA Vortex HQ
Vortex DevelopmentSRA - UCLA
ProductClinical Trial
Commercial Product
Product Timeline
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Summary• Vortex Biosciences is well positioned to capture a
significant share of the evolving liquid biopsy research market
• Strong interest from a broad selection of customers• CTCs are complementary with ctDNA and have large
potential in the diagnostic market• Investing in next generation technologies to enter the
clinical applications market within the next 2 – 3 years
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The leader in CTC enrichment technologies, a critical component of Moonshot 2020
Questions?
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