A world-class specialty biopharma business
Transcript of A world-class specialty biopharma business
A world-class specialty biopharma business
Corporate PresentationJanuary 2016
2Disclaimer
Neither this presentation nor any verbal communication shall constitute, or form part of, any offer, invitation or inducement to any person to underwrite, subscribe for, or otherwise acquire or dispose of, any shares or other securities in Circassia Pharmaceuticals plc (“Circassia”).
Forward-looking statements
This presentation and information communicated verbally to you may contain certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Circassia. The use of terms such as “may”, “will”, “should”, “expect”, “anticipate”, “project”, “estimate”, “intend”, “continue”, “target” or “believe” and similar expressions (or the negatives thereof) are generally intended to identify forward-looking statements. These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Nothing contained in this presentation or communicated verbally should be construed as a profit forecast or profit estimate. Investors or other recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. Circassia undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances.
3
Business built on three franchises leveraging common infrastructure
− SPIRE immunotherapies targeting leading allergies
− NIOX® market-leading asthma management products
− Respiratory portfolio of particle-engineered asthma & COPD products
− Franchises leverage novel technologies and out-sourced business model
− Commercialization exploits common infrastructure focused on asthma / allergy specialists
Strong and balanced growth platform
− Lead allergy product phase III data Q2 2016
− NIOX® products positioned for growth: 30% revenue increase Q1-3 2015
− Respiratory technology validated: successful EU decentralized filing
− Potential for 8 product launches by end 2021
− Funded to deliver (£209.3m cash1 at 30 September 2015)
Circassia overviewBuilding a self-sustaining specialty biopharma company
1 Cash, cash equivalents and short-term bank deposits (unaudited)
4
Delivering the strategyIn-house development complemented by strategic acquisitions
Deliver the pipeline
Build broad and
balanced portfolio
Market specialty products
Independently in N America
and major EU markets
Partnerships elsewhere
5
Specialty model drives valueLeveraging common commercial ‘backbone’
KOLs
Allergists Respiratory
specialists
Primary care
Top prescribers primary care
NIOX® asthma management
SPIRE allergy immunotherapies
COPD therapies
Asthma
substitutes
ASTHMA
- Direct sales in US
& Germany
- Sales force
expansion
underway
- US specialist
opportunity
~$190m alone
ALLERGY
- Preparing sales
force ahead of
launches
- Map customers &
key accounts
- Lead product
illustrative peak
sales >$500m
COPD
- Longer-term novel
formulations
- Direct promotion
to specialists
- Partner for
primary care
- Target ~$11bn
opportunity
ASTHMA
- Near-term
- Limited promotion
required
- Leverage
commercial ‘back
office’
- Target ~$2.8bn
originator sales
6
Product Research Preclinical Phase I Phase IIPhase III /
SubstituteFiled Marketed
NIOX MINO®
NIOX VERO®
Flixotide® substitute*
Cat SPIRE
Seretide® substitute
Flovent® substitute*
Serevent® substitute*
Grass SPIRE
House Dust Mite SPIRE
Ragweed SPIRE
LAMA novel formulation
Birch SPIRE
Triple combination
Strong, deep and balanced portfolioMarketed, late-stage and longer-term products
*Partnered
Pipeline does not include earlier stage programs: Japanese
cedar SPIRE, Alternaria SPIRE, NIOX® home device
7
SPIRE allergy therapies
NIOX® asthma management
Respiratory pipeline
1
2
3
Summary
4
8
Allergic rhinitis is a global healthcare problemAffects 10-20% of global population
Allergic diseases affect over 1 billion people worldwide3
Allergic rhinitis is the world’s most prevalent chronic non-communicable disease3
Allergy is medical condition with greatest impact on work productivity in US4
Allergy is a precursor of asthma; treatment with immunotherapy halts “allergic march”
3 EAACI Global Atlas of Allergy 2014
4 Gemson & Eng, August 2004
1 US Census Bureau, 2012
2 World Bank, 2012
Immunotherapy is the only way to treat the underlying disease
Europe
Rank AllergenSkin prick test positive
(% Popln) (million)2
1 House dust mite 22 82
2 Grass pollen 17 63
3 Cat 8-10 30-37
4 Birch pollen 6 22
5 Mould 4 15
6 Olive pollen 3 11
Source: Bousquet et al. Allergy. 2007:62:301-9.
USA
Rank AllergenSkin prick test positive
(% Popln) (million)1
1 House dust mite 28 86
2 Perennial rye 27 84
3 Short ragweed 26 82
4 Cockroach 26 82
5 Bermuda grass 18 57
6 Cat 17 53
Source: Arbes et al. J Allergy Clin Immunol. 2005 Aug;116(2):377-83.
Future potential targetsTargeted by Circassia
9
Moderate to severe allergy is inadequately addressed by current therapies
Allergen avoidance: not feasible in majority of cases
Symptomatic drugs: (anti-histamines, nasal corticosteroids etc) limited efficacy
– Prescription market estimated at approximately $7bn1
Whole allergen
immunotherapy
Targets cause of allergy
leading to tolerance of
allergens
Reduces “allergic march” to
asthma
Provided by allergy / asthma
specialists
Allergen under the tongue
Lengthy treatment 1 - 3yrs
Low adherence (7% complete 3yrs2)
US requires EpiPen prescription
High frequency of side effects
including potential for anaphylaxis
Subcutaneous
immunotherapy (SCIT)
Total 5 year cost: ~$3,600 – $6,000*
Sublingual
immunotherapy (SLIT)
Allergen injected
Lengthy treatment 3 - 5yrs
Poor patient adherence
Non-standardized dosing
High frequency of side effects
including potential for anaphylaxis
Total 1 year cost: $1,400 - $2,700**
Total 3 year cost: ~$9,000**
* Based on Circassia’s estimates
** Based on Merck/ALK and Stallergenes published US prices for SLIT treatments
1 Bloomberg
2 J Allergy Clin Immunol. 2013 Aug;132(2):353-60.e2. doi: 10.1016/j.jaci.2013.03.013. Epub 2013 May
3 Bousquet et al. J Allergy Clin Immunol. 2006 Jan;117(1):158–62
Majority of allergic rhinitis patients consulting a GP have moderate to severe symptoms3
10
Proprietary ToleroMune® technologyDesigned to treat underlying disease with minimal side-effects
T cell
epitopes
selected
Whole
allergen
Final product is
room temperature
stable, lyophilized
vial of 7 peptides
for injection
Modern, synthetic, rationally-designed pharmaceuticals
ToleroMune® identifies T-cell epitopes
– Short linear stretches of amino acids in allergen sequence
– Binds to antigen presenting cells to induce regulatory T cells
– Identified from blood of allergic individuals
SPIREs – Synthetic Peptide Immuno-Regulatory Epitopes
Short treatment designed to provide efficacy without the safety issues
– Regulatory T cells down-regulate allergic response
– Lack of B-cell epitopes avoids cross-linking of mast cells eliminating
early response / no need to dose escalate
– Synthetic manufacture – no extraction from whole allergens
Broadly applicable across range of allergies
– Allergens already identified; no research required
Silicon crystals
11
Overall TRSS improvement 2.1
vs. placebo (p = 0.05)
Chamber study: 202 subjects randomized
Subjects challenged in chamber 3 hours per day for 4
days at baseline and post-treatment
Controlled levels of dander (similar to house with cat)
Primary efficacy measure based on patient self-rated
Total Rhinoconjunctivitis Symptoms Score (TRSS)
Comparison of TRSS improvement from baseline
post treatment vs placebo
Scoring system required by regulators
Measured on 4-point scale:
0 (absent); 1 (mild, barely noticeable); 2 (moderate,
annoying / troublesome); 3 (severe, incapacitating)
SPIRE studies use 8 symptoms = 24-point scale:
cat SPIRE used sneezing & runny / blocked / itchy
nose & itchy / watery / red / sore eyes
Note: Based on non-asthmatic subjects
Cat SPIRE phase IIbProof-of-concept
Skin prick +ve cat:
US: 17%1 (53m)
EU: 8-10%2 (30-37m)
1 Arbes et al. J Allergy Clin Immunol. 2005 Aug;116(2):377-83
2 Bousquet et al. Allergy. 2007: 62: 301-9
12
Tolerance persists at least 2 years without further dosing
1 year follow-up study:
efficacy enhanced over time
Overall TRSS
improvement 3.9 vs.
placebo (p = 0.01)
Overall TRSS
improvement 3.9 vs.
placebo (p = 0.13)
Secondary endpoint:
TRSS improvement at
end of day 4:
5.1 vs. placebo (p=0.02)
Cat SPIRE phase IIbSustained benefit at 1 and 2 years with no additional dosing
2 years follow-up study:
efficacy persists at 2 years
Published: J Allergy Clin Immunol. 2013 Jan;131(1):103-9.e1-7 / Clin Exp Allergy. 2015 May;45(5):974-81. doi: 10.1111/cea.12488
13
Represents therapeutic step changeMore effective and more convenient
Product / Study3 Treatment Difference Active vs.
Placebo TRSS
Cat SPIRE chamber study1 4 doses 4 weeks apart 3.9
ALK-Abelló Grazax® pivotal field study2
(licensed in Europe) SLIT tablets
Daily 16 weeks before and during
season1.0
Stallergenes Oralair® grass field study2 (licensed
in Europe) SLIT tablets
Daily 16 weeks before and during
season1.4
Allergy Therapeutics Pollinex® Quattro grass
field study2 (filed Germany in 2009, not yet
approved) adjuvanted whole allergen IT
4 administrations 1 week apart 1.1
GSK fluticasone furoate perennial rhinitis field
study2 intranasal steroidOnce daily for 4 weeks 0.86
Sanofi fexofenadine cat chamber study2
antihistamine
180 mg 2 hours before chamber
(ie pre-symptoms)1.3
1 Based on the 4 x 6 nmol dose of cat SPIRE in CP005A
2 Source: Summary of product characteristics for each product, except i) Fexofenadine: Ann Allergy Asthma Immunol. 2006 Feb;96(2):327-33 and ii) Pollinex Quattro: EAACI XXVIII Congress 2009 Poster presentation
3 TRSS scoring ranges from 16 – 24 points for these studies
14
Cat SPIRE phase III on track to report Q2 2016Multi-year follow up initiated
Screening Study Medication Administration (every 4 weeks ± 2days)
Visit 1A 1B/C 2A 2B 3A………………………………………….3H 3I
4A 4B 4C 4D 4E 4F 5
Period 3 (Post Administration Collection)
PAC1
x3 wks
PAC2
x3 wks
PAC3
x3 wks
Follow-Up
(3-10 days after PAC3)
Week -8 -3 0 20-22 28 30 37-39 52-54 Year 2 Year 3 Year 4 Year 5
Annual
Allergy
Evaluation*
Annual
Allergy
Evaluation*
Annual
Allergy
Evaluation*
Annual
Allergy
Evaluation*
* Timed to occur annually after Baseline Allergy Evaluation Period in CP007
Reporting of Health Economics (Subjects)
Quarterly Visits to confirm and evaluate Safety Information (Sites)
Period 1 Period 2
Baseline Allergy
Evaluation
x3 wks
End of Dosing
Assessment
(2 wks ± days since
last dose)
Randomisation
Cat SPIRE phase III: recruitment complete
2–5 year follow-up on track:
329 subjects enrolled*
1,409 cat-allergic subjects in North
America, EU and Russia
Baseline TRSS ≥10
Primary endpoint 1 year after start dosing
Single phase III & supporting studies
sufficient for registration
Pediatric safety study on track to
complete H2 2015
*At 28 July 2015
15
Development stage Key findings
Birch SPIRE, Japanese cedar SPIRE and Alternaria SPIRE in earlier stage development
Cat SPIRE Phase III field study (n = 1,409)
House dust mite SPIRE Phase IIb study (n = 172)
Ragweed SPIRE Phase IIb study (n = 280)
Grass SPIRE Phase IIb study (n = 282)
Technology validated with clinical proof-of-concept in four programs
Proof-of-concept in multiple
products
Short-course treatment
Efficacy persists over time
Enhanced efficacy in more
symptomatic subjects
Safety profile similar to
placebo
Current status
Phase III to report Q2 2016
Phase IIb large-scale field study
underway
Phase IIb second season
follow-up to report H1 2016
Registration study to initiate
H1 2016
16
Full global rights retainedIdeal fit with focused commercialization strategy
Commercialization strategy US cat SPIRE target population
Cat-allergic individuals
Offered IT
Accept IT
(~378k)
Consulting a specialist
Primary focus
Patients
declining IT
Secondary
focus
Patients not
offered IT
Complete
IT (~60k)
~24 million1
~1.3 million
~1.0 million
1 Kantar Health Quantitative Cat Allergy Report 2010
Independent in key markets
− Scalable infrastructure in place
− Train on cat SPIRE in preparation for launch
− Build relationships with allergists early
− Map out customers & key accounts in advance
− Current sales support field force build well ahead of launch
− Target steeper sales curve with higher peak
Sales force plan
– 100 in N America initially targeting 3,500 specialists
– 90 in EU targeting high prescribers among 6,600 specialists
Subsequently target other high prescribers
− Selected ENT physicians
− Special interest primary care physicians
Partner in other markets
Secondary
focus
Patients failing to
complete IT
17
US market research for cat SPIRE (Kantar / 2010)
− 93 allergists, 82 PCPs, 8 payers
− US opportunity: $0.5-1.0 billion peak annual sales
US pricing research for cat SPIRE (Bridgehead / 2011)
– 101 allergists, 105 patients, 35 payers
– Supports pricing of $2,000-3,000
EU market & pricing research for cat SPIRE (PRMA / 2011)
− 27 specialists, 28 PCPs, 27 payers
− Supports Grazax as the likely benchmark
US market overview for 4 lead SPIRE products (LEK / 2009)
– $2.6bn opportunity in US
US and European research for 4 lead SPIREs (GfK / 2014)
− $2,600 pricing in US
Consistent assessment of commercial opportunity
Selected sizing and pricing studies Opportunity for cat SPIRE
Illustrative peak sales of
c.$500-700mm for US and EU
US: 200,000 x $2,600 = $520mm
EU: 50,000 x $1,500 (€1,100) = $75mm
Equals 5 of 34 new cat
allergy patients / month
already coming to allergist
US pricing: Supported
by third-party research
1.5 million patients in
EU already on allergy
immunotherapy
EU pricing: Discount to
Grazax cost of €2.5-5.3k
over 3+ years
Multiple studies demonstrate significant
market opportunity
18
SPIRE allergy therapies
NIOX® asthma management
Respiratory pipeline
1
2
3
Summary
4
19
Only point-of-care device available across major markets to measure FeNO to assist
diagnosis and management of asthma
– Strong IP with 72 granted patents in US, EU & Japan with protection currently to 2026
Selling direct in US & Germany to allergy/asthma specialists; distributors in other markets
– Sales force, market access & medical affairs teams in place
– Expanding direct markets over coming year
Asthma is one of largest healthcare burdens
− 25 million asthmatics in US, 14 million physician office / 1.8 million ER visits in US
− >$50bn medical cost of asthma in US in 2007
Clinical evidence shows FeNO measurement improves asthma management
– Improves diagnosis
– Improves determination of inhaled steroid responsiveness and control through tailoring use
– Improves monitoring of treatment compliance
– Potential to reduce exacerbations
Extensive big pharma use in asthma clinical studies
− Validates importance of FeNO in asthma; helps establish FeNO in market
Leadership in FeNO asthma managementMeeting key clinical need in major therapeutic market
20
Next generation roll-out underwayProduct improvements offer major opportunity
NIOX MINO®
EU 2004, US 2008,
China 2010, Japan 2013
Ages 4+ in EU; 7+ in US
10 second test; 90 second result
Monitor lasts 3 years or 3,000 tests
Limited portability
Ages 4+ EU; 7+ in US
6 and 10 second test; ~60 second result
Monitor lasts 5 years or 15,000 tests
Fully portable; enhanced interface
NIOX VERO®
EU 2013, US 2014,
Japan 2015, China 2015
Transitioning to
next generation
Long-term upside potential from home use device currently in planning
Direct sales
Distributors
21
Endorsement from key organizationsIncluded in ATS treatment guidelines and NICE recommendation
22
Potential to accelerate growthFoundations in place to boost NIOX® sales
2016 positioned for growth
Significant progress in establishing new market category and changing existing paradigm
FeNO accepted by KOLs and specialists
Number of major guidelines include FeNO
Scientific evidence / publications support use of FeNO
Reimbursement established (64% US coverage; targeting 75% by 2016)
Next generation NIOX VERO® device offers significant improvements over predecessor
NIOX VERO® US and Japanese launches H1 2015
Chinese NIOX VERO® launch H2 2015
23
Significant market opportunityIdeal fit with Circassia’s commercialization strategy
US specialist opportunity
~$190m
US primary care opportunity
~$610m
Direct
sales
force
Partner
sales
force
KOLs
Allergists Respiratory
specialists
Primary care
Top prescribers primary care
18% CAGR over
last 5 years
Q1-3 2015
revenues £13.6m
30% growth vs
Q1-3 2014
Targeting strong
full year growth
Robust global
revenue growth
24
SPIRE allergy therapies
NIOX® asthma management
Respiratory pipeline
1
2
3
Summary
4
25
Near-term pipeline & longer-term novel formulations
‒ 73.5% of pre-entry brand
price for first to market
generic in US during
exclusivity1
‒ 47.8% of pre-entry brand
price for only on market
generic in US1
Significant pricing potential
1 Bureau of Economics, Federal Trade Commission, Working Paper No 317. The effect of generic drug competition on generic drug prices during the Hatch-Waxman 180-day exclusivity period. April 2013.
Device types
DPIpMDI
Direct
sales
force
Partner
sales
force
KOLs
Allergists Respiratory
specialists
Primary care
Top prescribers primary care
Focus on pMDI market segment
Directly substitutable products
– Limited development
– Rapid route to market; near-term revenue
– No requirement for significant commercial
infrastructure
– Challenging to achieve for respiratory products
– Non-substitutable competitors require promotion
Novel combinations / formulations
− Longer more extensive development
− Majority of market in primary care
− Circassia to target specialists
− Partner for phase III and targeting primary care
26Novel technology controls API properties
Directly substitutable products
‒ Potential first to market with
unique combination of therapeutic
equivalence, all strengths, similar
device and same formulation
Novel products
‒ Optimized combinations and
novel formulations
Significant potential benefits
Established at commercial scale in cGMP compliant FDA-approved facilities
Broad IP: granted and pending patents extend protection to 2030 in US and 2028 in EU
Engineered API
‒ Size
‒ Shape
‒ Aerodynamics
‒ Surface properties
‒ Manufacturability
‒ Product stability
‒ Product performance
Technology controls
27
Lead productCollaboration with Mylan
Full rights retained in Japan, China, South
America, Middle East and Africa
Mylan has marketing rights in agreement territory1
FDA guidelines require PK and PD studies in US
Technology validation by leading company
Validation confirmed by successful EU
decentralized procedure outcome
1 USA, Canada, Australia and New Zealand, India, Europe (including the EU and EFTA states (Iceland, Liechtenstein, Norway and Switzerland)), Turkey, Russia and CIS
Originator sales estimate based on GSK Annual Reports 2011 and 2014 and selected IMS data 2011 and 2012
Flovent®
substitute (US)
Estimated $930m originator sales ($680m in US; $250m ex-US)
Flixotide®
substitute (EU)
Product candidate targeting substitution for
GSK’s Flixotide® pMDI (Flovent® pMDI in US)
Reviewed under EU orally inhaled products
guidelines that allow approval based on in vitro
equivalence data only
Decentralized procedure – UK acted as
Reference Member State
Product confirmed approvable Nov 2015 –
initial licenses to enter EU Mutual Recognition
Successful EU filing Mylan collaboration
28Strong pipeline of follow-up products Seretide®
substitute
Serevent®
substitute
1 Originator sales estimates based on GSK Annual Reports 2011 and 2014 and selected IMS data 2011 and 2012
2 Pre-discount sales: National Health Service prescription cost analysis
Targeting UK filings 2016
Serevent® pMDI substitute
− Stability batches in place
− Estimated originator sales $60m1
− Partnered in UK / Ireland
Seretide® pMDI substitute
– Global rights retained
– Initial registration batches in place
– Global originator sales estimated $1.8bn1
– UK originator gross sales $460m2
29Longer-term high value optimized products
Significant efficacy vs placebo
Novel LAMA
formulation
1 Respiratory Market 2025: Taking A Deep Breath And A Deep Dive – Jefferies 2013 Equity Research
Particle-engineered glycopyrronium bromide formulation
– Potential Spiriva® competitor targeting predicted >$3bn1 opportunity
– Compelling phase IIa results
12.5µg 25µg 50µg 100µg Placebo
30
Significant potential benefits for combination products
Novel triple
presentation
1 Inhaled corticosteroid (ICS) / long-acting beta agonist (LABA) / long-acting muscarinic antagonist (LAMA)
2 Respiratory Market 2025: Taking A Deep Breath And A Deep Dive – Jefferies 2013 Equity Research
Triple combination ICS + LABA/LAMA1 targeting emerging ~$8bn2 market opportunity
Entered clinic H2 2015 - single-dose / repeat-dose 38-subject study
Results expected Q2 2016
2+1 formulation
LAMA LABA ICSLAMA ICSLABA
Engineered mono blend
31
Approach exploits market dynamicsOpportunity to capture modest share of significant markets
LABA / ICS targeting Seretide® substitution
Monotherapy LAMA
Triple fixed dose combination
1 Respiratory Market 2025: Taking A Deep Breath And A Deep Dive – Jefferies 2013 Equity Research
Monotherapy LABA targeting Serevent®
substitution
Global key inhaled maintenance respiratory market1 (excludes ICS monotherapy market: >US$2bn in 2014)
Monotherapy ICS targeting Flixotide® / Flovent®
substitution
Potential near-term approvals with high value follow up products
32
SPIRE allergy therapies
NIOX® asthma management
Respiratory pipeline
1
2
3
Summary
4
33
News Date* Description
Grass SPIRE support study H1‘15 Observational study (TG003) reports (n=102)
Grass SPIRE phase II results H1‘15 Phase II controlled asthmatic study (TG004) reports (n=54)
NIOX MINO® / NIOX VERO® sales data H2’15 Interim results with H1’15 sales results
Flixotide® substitute approval outcome1 H2’15 MHRA response to filing1
Cat SPIRE safety study complete H2‘15 Pilot pediatric safety study (CP009) completes (n≥12)
Ragweed SPIRE phase IIb complete H2’15 Phase IIb follow-up field study (TR006A) completes (n=249)
HDM SPIRE study recruitment H2’15 Complete phase IIb field study (TH005) recruitment (n=660)
Serevent® substitute filing H1’16 EU decentralized procedure filing to MHRA
Flixotide® substitute launch1 (if approved) H1’16 UK launch1 (if approved)
Seretide® substitute filing H1’16 EU decentralized procedure filing in UK
NIOX MINO® / NIOX VERO® sales data H1’16 Year end results with FY’15 sales
Cat SPIRE phase III results H1‘16 Phase III study (CATALYST) reports (n=1,409)
Grass SPIRE recruitment campaign H1‘16 Campaign starts for registration study
Triple combination study results H1’16 Repeat dose study reports (n=38)
NIOX MINO® / NIOX VERO® sales data H2’16 Interim results with H1’16 sales results
Cat SPIRE filing H2‘16 File for marketing approval
Birch SPIRE study results H2’16 Study reports following birch pollen season (n=64)
Strong newsflow
*To be included in announcements as appropriate and in-line with financial calendar including half-year / full-year results1Approval / launch reflects estimate of MHRA review timelines only
34Delivering on our strategy
Marketing specialty products
− Direct specialty sales established in US and Germany
− 30% NIOX® revenue growth Q1-3 2015
− Infrastructure expansion underway
− Scale-up ahead of first allergy product launch
Delivering the pipeline
– Cat SPIRE on track to report phase III data Q2 2016
– Flixotide® substitute successful EU decentralized filing
– Three regulatory filings anticipated 2016
– Strong clinical progress in multiple allergy & respiratory programs
Building broad and balanced portfolio
– Pipeline of 12 allergy, asthma and COPD products
– Potential for 8 product launches by end 2021
World-class specialty biopharma business funded to deliver
Contact us
Office Investors Financial and Corporate
Communications
Circassia
Northbrook House
Robert Robinson Avenue
Oxford Science Park
Oxford OX4 4GA
United Kingdom
W: www.circassia.com
Steven Harris, CEO
Julien Cotta, CFO
T: +44 (0) 1865 405560
FTI Consulting
200 Aldersgate
Aldersgate Street
London EC1A 4HD
United Kingdom
T: +44 (0) 20 3727 1000