European Market Entry Solutions to accelerate Value Creation and maintain Strategic Flexibility March 2018
Vicarius Pharma addresses an unmet market need Vicarius Pharma addresses the risks and disadvantages of existing European market entry strategies (out-licensing or go-it-alone) by offering novel and highly flexible partnership models, building and managing rightsized go-to-market organizations on behalf of our partners, and dedicating the full attention of a ready-now, expert European Executive Team March 2018 This is Vicarius Pharma 2
Key benefits of a partnership with Vicarius Pharma Expert launch preparation and execution Pan-European, right-sized commercial coverage Attractive economics Strategic and structural flexibility March 2018 This is Vicarius Pharma 3
Key benefits Comprehensive European market entry solutions Expert launch Commercial Attractive Strategic and structural preparation Coverage economics flexibility Proven, ready-now Legal and operational Full launch cost Commercial structure European Executive Team responsibility absorption by Vicarius rightsized to asset spares partner P&L potential and Partner’s Regulatory, pricing & Direct customer-facing long-term European reimbursement, medical commercial organizations High royalties and/or strategy affairs, stakeholder in major EU markets profit sharing out-perform management and out-license economics Partner may elect to take go-to-market strategies Expert, compliant access over dedicated increase likelihood of to minor EU and ex-EU Single point of contact for organization built by launch success markets Distributor Markets Vicarius Access to top talent for Leveraged Partner can recover asset organization build cross-functional support at any time March 2018 This is Vicarius Pharma 4
Bespoke and right-sized Comprehensive European market entry solutions Vicarius Pharma’s core business and unique offering Creation and management of go-to-market organizations in major European markets Dedicated Company Portfolio Company Dedicated commercial organizations for Multiple, non-competing assets in assets with exp. peak sales of > €100m aligned therapeutic area with exp. and partners interested in building peak sales < €100m that do not justify footprint in Europe dedicated organization March 2018 This is Vicarius Pharma 5
We provide excellence in launch preparation and execution Leadership team consists of senior executives with an average of 27 years of experience in Life Sciences industry Expertise and know-how gathered with over 40 product launches on a pan-European level Achieved multiple successful pan-European and national regulatory approvals Successfully negotiated P&R submissions , incl. HTA submissions , in all European markets Registered dozens of legal entities in Europe and built robust, tax-efficient inter-company structures Hired over 2000 employees for direct EU operations and successfully managed extensive third party distributor networks in and outside the EU March 2018 This is Vicarius Pharma 6
We are experienced in a wide range of disease areas Neurology (Alzheimer’s disease, MS, Parkinson’s disease) Cardio-vascular diseases Auto-immune (Crohn’s disease, Lupus, rheumatoid arthritis) Infectious diseases Psychiatric disorders (depression, anxiety, schizophrenia) Dermatology (psoriasis) Oncology Pain management Metabolic diseases (diabetes, GH deficiency, hemophilia) Ophthalmology Respiratory diseases (asthma) Rheumatology Neuromuscular disorders Several rare and ultra rare diseases March 2018 This is Vicarius Pharma 7
Commercializing a first product in Europe by building and managing a Dedicated Company March 2018 This is Vicarius Pharma 8
Bridging the gaps with a Dedicated Company We build dedicated customer-facing operations Partner’s European Expertise and resources commercial organization Dedicated and branded Vicarius Pharma HQ customer-facing Operations (OpCo) > General management > General management > HR > Business Unit Head > Regulatory > Marketing > Market Access > MSLs > Medical > KAMs > Supply Chain > MAMs > Legal > Pharmacovigilance > Compliance > Infrastructure March 2018 This is Vicarius Pharma 9
Bridging the gaps with a Dedicated Company Lower risks compared to go-it-alone Full exploitation of asset’s potential in Europe as it gets strategic focus from ready-now, experienced and dedicated European Executive Team Full-fledged launch strategy, co-developed with partner, is ready prior to entering the market – a key factor for achieving successful launch trajectory in the first 6 months Protection of partner’s P&L and strengthening of cash flow position , as Vicarius Pharma absorbs launch costs and assumes entrepreneurial risk Minimal distraction from U.S. business for partner company’s Executive Team Ability to identify and hire talent for commercial organization and thus minimize execution risks thanks to Vicarius Pharma’s network Efficient allocation of cross-functional resources drives profitability , permitting Vicarius to offer attractive returns to partners March 2018 This is Vicarius Pharma 10
Bridging the gaps with a Dedicated Company Increased value capture compared to traditional out-licensing Vicarius Pharma builds branded European footprint that can be taken over by the partner Partners enjoy goodwill creation and increased brand equity Improved economics through generous royalty stream and profit share Asset gets full focus from a ready-now , expert European Executive Team Strategic options remain open for innovator company as asset can be recovered at any time Valuation of innovator company does not suffer from “poison pill” effect of typical out-licensing agreements March 2018 This is Vicarius Pharma 11
Commercializing innovative small/medium size assets through a Portfolio Company March 2018 This is Vicarius Pharma 12
Portfolio Company Improved economics through leverage Typical out-license arrangements are not suited for all types of assets : Some partners (e.g. single asset companies) don’t intend to build a dedicated organization in Europe but want improved economics vs out-licensing and wish to preserve strategic control following launch Assets in highly specialized disease areas may not provide sufficient business opportunity to justify a dedicated organization Costly executive management and senior expert functions (e.g. VP Medical) Relatively small customer facing organization (KAMs, MSLs) compared to management and expert function overhead Vicarius Pharma offers an alternative – the Portfolio Company March 2018 This is Vicarius Pharma 13
Portfolio Company Features and benefits Portfolio Company commercializes several non-competing assets in same therapeutic area which would be too small to justify single-asset Dedicated Company, or where partner is not interested in building an European Organization Vicarius offers partners opportunity to obtain attractive economic terms plus strategic flexibility to recover asset at any time, e.g. on change of control Recovery right removes poison pill effect of standard out-licenses March 2018 This is Vicarius Pharma 14
Why entering Europe with Vicarius is a highly attractive option: March 2018 This is Vicarius Pharma 15
Our models offer highest flexibility & increased value creation Vicarius partnership models bridge the gap Partnership with Vicarius avoids the risk, distraction and expense of go-it-alone, whilst preserving strategic control of R&D and global branding Increased global corporate value The valuation of partner companies does not suffer from a “poison pill” effect of a long-term out-license agreement Partners achieve goodwill creation and increased brand equity Asset can be recovered at any time Asset can be recovered at any time, e.g. on change of control, or as new indications or follow-on products are approved Partner keep all options open Unlike out-licenses, Vicarius partnerships do not block other corporate transactions or reduce takeover premium March 2018 This is Vicarius Pharma 16
Vicarius is the best partner for European market entry Vicarius has the best team for an European launch The company and business model are new - but we are not! We provide a proven, ready-now, Executive Team to increase chances of launch success We attract the best talent thanks to our reputation and networks We can quickly build a customer-facing European organization that is tailored to our partners’ assets We manage only a few assets, with laser focus Partner assets will not get “lost” or “forgotten” as frequently occurs in out-licenses We hold ourselves to KPIs We propose transparent partnerships and hold ourselves to agreed pre-and post- launch performance targets We have committed funding: CHF21m raised in Series A financing in 2017 March 2018 This is Vicarius Pharma 17
Faster value creation while maintaining strategic flexibility Launching a first product in Europe with Vicarius Pharma, our partners will benefit from our unmatched experience & focused execution reduce the risks of entering Europe and achieve increased value capture retain the highest strategic flexibility March 2018 This is Vicarius Pharma 18
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