Heidelberg Pharma (HPHA) Life Sciences Investor Forum summary

Key scientific and clinical insights

• Developed a novel cancer therapy using amanitin, a mushroom-derived toxin, as a payload in antibody-drug conjugates (ADCs) to overcome drug resistance in tumors.

• The ATAC platform enables plug-and-play targeting of various tumor types by reprogramming the antibody component.

• Preclinical studies in mice showed complete tumor remission after a single injection, outperforming standard of care.

• Early clinical trials in multiple myeloma patients demonstrated objective responses, including complete remission in a patient with over 20 years of cancer history.

• The therapy exhibited a mild safety profile, with minimal adverse effects and durable responses in heavily pretreated patients.

Development pipeline and future plans

• Dose escalation for the lead program (HDP-101) in multiple myeloma is ongoing, with dose expansion planned for 2025 and registration trial data targeted by end of 2029.

• Additional programs include HDP-102 for non-Hodgkin lymphoma (first patient dosed) and HDP-103 for prostate cancer (first patient to be treated in Q1 2026).

• Combination studies and market analysis indicate potential for multibillion-dollar market opportunities.

• The company holds a strong IP position, being the sole developer of this specific ADC payload and platform.

• Plans include expanding clinical validation, maximizing response rates, and exploring combination therapies.

Financials, partnerships, and shareholder structure

• Major shareholders include Dievini Family Office (45%) and Huadong Medicine (significant equity and licensing deals), with the remainder in free float.

• Financing is supported by royalty deals, notably a EUR 115 million agreement with Healthcare Royalty, providing non-dilutive funding through milestone payments.

• Huadong Medicine holds rights for China and is preparing to start trials based on phase I data.

• The company expects a cash runway into 2027, supporting ongoing and planned clinical programs.

• Share price has increased significantly in 2024, reflecting clinical progress and market recognition.