Chosa Oncology (CHOSA) Investor Update summary

Strategic platform and technology

• Proprietary solution can more than double the efficacy of platinum-based chemotherapy, especially in combination with PD-L1 immune therapies, targeting a market expected to reach $150 billion by 2032.

• Technology enables precise identification of patients most likely to benefit, increasing pathological complete remission rates from 24% to 44% in selected groups.

• Response predictor (DRP) utilizes 205 genes, protected by patent until 2038, and has been validated in lung and breast cancer studies.

• Over 5,000 patient data points were used to develop and fine-tune the DRP, with four independent studies supporting its clinical relevance.

• The test costs $1,500 per patient, with potential for price reduction as volume increases.

Commercialization and partnerships

• Commercialization strategy focuses on partnering with PD-1 or biosimilar owners, offering differentiation in a crowded market.

• Proposed business model is a subscription with royalty payments based on revenue gains, with a 5% royalty suggested.

• A $1 billion revenue gain for a partner could yield $50 million in annual royalties.

• Ongoing discussions with pharma companies, with expectations of increased interest following upcoming data releases.

Clinical development and milestones

• Key inflection points include a lung cancer study readout in Q2/Q3, new partnerships in Q3, and additional indications later in the year.

• Early 2025 will see a breast cancer study readout, and Q1 2026 is targeted for a major lung cancer biopsy study, potentially initiating the FDA process.

• Collaborations with leading research groups and key opinion leaders in Europe and the US are ongoing.

• Support from prominent oncologists and inclusion in guideline introduction and FDA approval pathways.