Update on inclisiran Discussion of ORION-1 trial Conference call: November 15th 2016 2:00 pm – 3:15 pm, CST 1 Inclisiran inhibits PCSK9 synthesis by RNA interference Forward-looking statements Statements contained in this presentation that are not purely historical may be deemed to be forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Without limiting the foregoing, the words "believes," "anticipates," "expects," “potential,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Important factors that may cause or contribute to such differences include whether clinical trials for inclisiran will advance in the clinical process on a timely basis, or at all, or succeed in achieving their specified endpoints; whether physicians, patients and other key decision makers will accept clinical trial results; whether the Company will make regulatory submissions for inclisiran on a timely basis, or at all; whether its regulatory submissions will receive approvals from regulatory agencies on a timely basis, or at all; and such other factors as are set forth in the risk factors detailed from time to time in the Company's periodic reports and registration statements filed with the Securities and Exchange Commission including, without limitation, the risk factors detailed in the Company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on October 27, 2016, which are incorporated herein by reference. The Company specifically disclaims any obligation to update these forward-looking statements. 2 Inclisiran inhibits PCSK9 synthesis by RNA interference Introduction Panel Dr. Clive Meanwell Chief Executive Officer, The Medicines Company Dr. John Maraganore Chief Executive Officer, Alnylam Pharmaceuticals, Inc. Dr. David Kallend Dr. Evan Stein Medical Director, Dyslipidemia, The Medicines Company Professor of Medicine, Coronary Care Unit, Mayo Clinic College of Medicine, Rochestor, Minnesota Chairman of the Department of Vascular Medicine, Academic Medical Center of the University of Amsterdam Chief Scientific Officer, Medpace Reference Laboratories Roger Longman Chief Executive Officer, Real Endpoints Dr. R Scott Wright Dr. John JP Kastelein 3 Inclisiran inhibits PCSK9 synthesis by RNA interference ORION-1 Inclisiran inhibits PCSK9 synthesis by RNA interference Planned interim analysis of a multi-center randomized controlled dose-finding trial Kausik K Ray, Ulf Landmesser, Lawrence A Leiter, David Kallend, Peter Wijngaard Robert Dufour, Timothy Hall, Mahir Karakas, Traci Turner, Frank LJ Visseren, R Scott Wright, and John JP Kastelein On behalf of the ORION-1 investigators 4 Inclisiran inhibits PCSK9 synthesis by RNA interference Background and rationale Inclisiran: Under investigation for LDL-C lowering • ASCVD remains a challenge to global health1 • mAbs that block PCSK9 require 12-24 s.c. injections per year (totaling ~2-5 grams)5,6 • LDL-C reduction is a proven strategy to prevent ASCVD2 • Administrative and financial burdens leave room for more efficient agents • Statins are the cornerstone of treatment but with limitations2 • RNAi a highly efficient approach to inhibit PCSK9 synthesis in the liver7,8 • mAbs that block PCSK9 have demonstrated significant LDL-C lowering with or without statins3,4 • Phase I 300 mg s.c. inclisiran lowered LDL-C ~50% for 4-6 months (n=69)9 1: World Health Organization 2: AHA guidelines on dyslipidemia 5 3: Sabatine MS et al. N Engl J Med 2015;372:1500-9 4: Robinson JG et al. N Engl J Med 2015;372:1489-99 Inclisiran inhibits PCSK9 synthesis by RNA interference 5: https://www.repathahcp.com/dosing 6: https://www.praluenthcp.com/dosing 7: Wittrup A & Lieberman J Nature Rev Gen 2015;16: 543-52 8: Fitzgerald K et al. Lancet 2013;9911:60-8 9: Fitzgerald K et al. N Engl J Med online publication 2016:November 13 Objectives Dosage selection for Phase III • Primary endpoint - Percent change in LDL-C levels from baseline at day 180 • Secondary endpoint - LDL-C levels at day 90 and other lipid parameters - LDL-C and PCSK9 levels over time - Safety and tolerability • Interim analysis - Pre-specified and pre-defined endpoints - Interim analysis endpoints up to 90 days - Change and % change from baseline in LDL-C, PCSK9, other lipids and lipoproteins - Safety and tolerability 6 Inclisiran inhibits PCSK9 synthesis by RNA interference Patient population High cardiovascular risk and elevated LDL-C Inclusion criteria • Age ≥18 years • With ASCVD - LDL-C >70 mg/dL • High risk primary prevention LDL-C >100 • TG <400 mg/dL • eGFR ≥30 mL/min • Maximally tolerated statin • Stable lipid Rx for ≥30 days 7 Inclisiran inhibits PCSK9 synthesis by RNA interference Exclusion criteria • Significant comorbidity • HbA1c ≥10% • NYHA Class II-IV HF • MACE <6 months • Uncontrolled BP • Active liver disease • Pregnancy or risk | nursing • Cognitive impairment Study design and statistics Dose finding - placebo controlled Day of study Statistics Dose (N) 1 14 30 60 90 104 120 150 180 210 Assessment Interim analysis Placebo (65) 200 mg (60) 300 mg (62) 500 mg (66) Two doses Placebo (62) 100 mg (62) 200 mg (63) 300 mg (61) Follow-up as of 25 Oct 2016 8 501 Inclisiran inhibits PCSK9 synthesis by RNA interference 497 Final analysis One dose 189 Sample size of 480 patients allowed for • 15% drop out rate • ≥90% power to detect 30% LDL-C in at least 1 treatment group Pre-specified interim analysis plan Follow-up cut-off 25 Oct 2016 • 497 patients followed to 90 days • 189 patients followed to 180 days Patient characteristics Baseline demographics well balanced Total=501 Inclisiran Placebo Pooled 100 mg 200 mg 300 mg 500 mg N=127 N=374 N=62 N=123 N=123 N=66 Age mean (years) 62 64 65 63 64 62 BMI (kg/m2) 30 29 29 29 29 28 White 117 (93%) 357 (93%) 57 (92%) 114 (93%) 114 (93%) 63 (95%) Male 75 (59%) 251 (67%) 39 (63%) 78 (63%) 87 (71%) 47 (71%) Cardiovascular disease 91 (72%) 254 (68%) 43 (69%) 84 (68%) 91 (74%) 36 (55%) Lipid lowering treatment 99 (78%) 307 (82%) 50 (81%) 103 (84%) 102 (83%) 52 (79%) Statin treatment 94 (74%) 271 (72%) 44 (71%) 91 (74%) 91 (74%) 45 (68%) LDL-C (beta quant) (mg/dL) 125 129 128 129 126 135 PCSK9 (ng/mL) 427 410 448 420 418 9 Inclisiran inhibits PCSK9 synthesis by RNA interference 427 Inclisiran safety 10 Inclisiran inhibits PCSK9 synthesis by RNA interference Safety of inclisiran to day 90 Treatment emergent adverse events (TEAE) Total=497 Day 1-90 Inclisiran Placebo Pooled 100 mg 200 mg 300 mg 500 mg N=127 N=370 N=61 N=122 N=122 N=65 69 (54%) 198 (54%) 38 (62%) 64 (52%) 68 (56%) 28 (43%) Serious 5 (4%) 22 (6%) 8 (13%) 6 (5%) 6 (5%) 2 (3%) Severe 5 (4%) 12 (3%) 3 (5%) 3 (2%) 4 (3%) 2 (3%) Related 24 (19%) 67 (18%) 11 (18%) 20 (16%) 27 (22%) 9 (14%) 0 (0%) 1 (0.3%) 0 (0%) 0 (0%) 0 (0%) 1 (1.5%) Any TEAE Death Most common TEAEs (>2%) were myalgia, headache, fatigue, nasopharyngitis, back pain, hypertension, diarrhea, dizziness (similar incidence to placebo) 11 Inclisiran inhibits PCSK9 synthesis by RNA interference Safety of inclisiran to day 90 Liver and muscle TEAE1 Total=497 Day 1-90 Inclisiran Placebo Pooled 100 mg 200 mg 300 mg 500 mg N=127 N=370 N=61 N=122 N=122 N=65 ALT >3x ULN 0 1 (0.3%) 0 0 1 (0.8%) 0 AST >3x ULN 0 1 (0.3%) 0 0 1 (0.8%) 0 ALP >2x ULN 0 3 (0.8%) 1 (1.6%) 0 2 (1.6%)2 0 Bilirubin >2x ULN3 0 0 0 0 0 0 CK >5x ULN 0 2 (0.6%) 0 1 (0.8%)4 1 (0.8%) 0 Myalgia 6 (4.7%) 5 (8.2%) 7 (5.7%) 8 (6.6%) 1 (1.5%) 21 (5.7%) 1: Crossing above threshold for significance at any time after randomization regardless of baseline 2: One patient above ULN at baseline 3: No patient met the criteria for Hy’s law 4: Patient >3x ULN at baseline 12 Inclisiran inhibits PCSK9 synthesis by RNA interference Safety of inclisiran to day 90 First injection TEAE1,2 Total=497 Inclisiran Placebo Pooled 100 mg 200 mg 300 mg 500 mg AE terms N=127 N=370 N=61 N=122 N=122 N=65 Injection site erythema 0 4 (1.1%) 0 2 (1.6%) 1 (0.8%) 1 (1.5%) Injection site pruritus 0 1 (0.3%) 0 0 1 (0.8%) 0 Injection site rash 0 0 0 0 0 0 Injection site reaction 0 7 (1.9%) 1 (1.6%) 1 (0.8%) 3 (2.5%) 2 (3.1%) Total (observed any time) 0 12 (3.2%) 1 (1.6%) 3 (2.5%) 5 (4.1%) 3 (4.6%) Total (observed >4 hours) 0 9 (2.4%) 1 (1.6%) 3 (2.5%) 4 (3.3%) 1 (1.5%) 1: Number of patients with adverse event classified by preferred term – each patient is counted only once 2: Pre-defined histaminic/allergic type adverse events 13 Inclisiran inhibits PCSK9 synthesis by RNA interference Inclisiran efficacy 14 Inclisiran inhibits PCSK9 synthesis by RNA interference Efficacy of one dose of inclisiran up to day 90 Significant, durable PCSK9 and LDL-C lowering Mean percent change (±95% CI) PCSK9 LDL-C 0 0 p-value for all comparisons to placebo <0.0001 -20 -40 -40 -60 -60 -80 -80 0 30 60 p-value for all comparisons to placebo <0.0001 -20 90 0 30 60 Days from first injection Placebo (N=124) 15 Inclisiran inhibits PCSK9 synthesis by RNA interference 100mg (N=59) 200mg (N=121) 300mg (N=120) 500mg (N=64) 90 One dose and two doses of inclisiran up to day 180 Percentage change (±95% CI) Sustained dose dependent lowering of LDL-C 0 0 -20 -20 -40 -40 -60 -60 -80 -80 0 30 60 90 120 150 180 0 30 60 90 120 150 Placebo (N=22) 200mg (N=22) Placebo (N=23) 100mg (N=26) 300mg (N=21) 500mg (N=23) 200mg (N=24) 300mg (N=28) 180 Days from first injection Available data as of 25 Oct 2016 16 Inclisiran inhibits PCSK9 synthesis by RNA interference One dose and two doses of inclisiran up to day 180 Percentage change (±95% CI) Efficacy of 300 mg versus placebo on LDL-C 0 0 -20 p-value for all comparisons to placebo <0.0001 -40 -20 p-value for all comparisons to placebo <0.0001 -40 -47.3 -60 -49.9 -55.7 -47.0 -38.0 -43.2 -44.3 -49.9 -60 -59.1 -80 -47.9 -47.2 -57.0 -56.7 120 150 -52.3 -80 0 30 60 90 120 150 180 0 30 60 90 180 Days from first injection Placebo (N=22) 300mg (N=21) Placebo (N=23) 300mg (N=28) Available data as of 25 Oct 2016 17 Inclisiran inhibits PCSK9 synthesis by RNA interference Individual patient response at day 180 Absolute change in LDL-C from baseline 32.5 25 Placebo Change in LDL-C (mg/dL) -25 Two doses (N=23) Mean -3.1 Median 2 mg/dL -75 -91 -125 25 -25 300 mg Two doses (N=28) -26.5 -75 -125 Mean -64.9 Median -64 mg/dL -122 Available data as of 25 Oct 2016 18 Inclisiran inhibits PCSK9 synthesis by RNA interference Percent free PCSK9 reduction: monoclonal antibodies versus inclisiran (siRNA) Evolucumab: 420 mg Q4W dosing Alirocumab 150 mg Q2W Inclisiran 300mg (N=120) % reduction at 28 days % reduction at 14 days % reduction 14 - 90 days 10 10 10 0 0 Diet 0 -10 -10 Diet + Atorvastatin 10mg -20 -30 Diet + Atorvastatin 80mg -40 -50 -20 Diet + Atorvastatin 80mg + Ezetimide -70 Supplement to: Blom, Hala, Bolognese et al. N Engl J Med 2014;370:1809-19 19 Inclisiran inhibits PCSK9 synthesis by RNA interference -20 Day 14 -30 -40 -40 Day 60 -50 Day 90 -60 150mg Q2W + Atorvastatin 80mg -60 -70 -70 -80 -80 All -80 -10 -30 -50 -60 150mg Q2W + Atorvastatin 20mg Roth, McKenney, Hanotin, Asset, Stein N Engl J Med 2012;367:1891-1900 Ray et al. Presentation at AHA 2016 Day 30 Discussion Panel Dr. Clive Meanwell Chief Executive Officer, The Medicines Company Dr. John Maraganore Chief Executive Officer, Alnylam Pharmaceuticals, Inc. Dr. David Kallend Dr. Evan Stein Medical Director, Dyslipidemia, The Medicines Company Professor of Medicine, Coronary Care Unit, Mayo Clinic College of Medicine, Rochestor, Minnesota Chairman of the Department of Vascular Medicine, Academic Medical Center of the University of Amsterdam Chief Scientific Officer, Medpace Reference Laboratories Roger Longman Chief Executive Officer, Real Endpoints Dr. R Scott Wright Dr. John JP Kastelein 20 Inclisiran inhibits PCSK9 synthesis by RNA interference Conclusions Inclisiran: Phase III-ready investigational compound • ORION-1 study met all interim analysis goals • A single injection of inclisiran (300 mg) lowered ‘bad cholesterol’ (LDL-C) by an average of 51%, and up to 76% • Two injections of inclisiran (300 mg) lowered LDL-C by an average of 57%, and up to 81% • Significant LDL-C reductions were sustained out to 180 days following a single 300 mg dose • ORION-1 study affirmed inclisiran’s potential for a highly-differentiated, infrequent, low volume dosing regimen of 2 or 3 injections per year affirmed—carrying the promise of delivering more cost-effective therapy than we have available today • To date, inclisiran has demonstrated highly-encouraging safety and tolerability • Inclisiran’s efficacy, safety and dosing profile is likely to ensure significant and durable reductions in LDL-C and thus potentially improve cardiovascular outcomes • Based on the strength of the ORION-1 data, The Medicines Company expects to advance inclisiran aggressively in a comprehensive, global Phase 3 development program 21 Inclisiran inhibits PCSK9 synthesis by RNA interference
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