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Corporate Overview
June 2017
22
Safe Harbor StatementThese slides and accompanying oral presentation contain forward-looking statements. All statements, other than statements of
historical fact, included in these slides and accompanying oral presentation are forward-looking statements. Forward-looking
statements include, but are not limited to, statements about: the initiation, timing, progress and results of our preclinical studies and
clinical trials, and our research and development programs; our ability to advance product candidates into, and successfully complete,
clinical trials; the tolerability of our product candidates at efficacious doses; our collaborators’ exercise of their license options; the
commercialization of our product candidates; the implementation of our business model, strategic plans for our business, product
candidates and technology; the scope of protection we are able to establish and maintain for intellectual property rights covering our
product candidates and technology; estimates of our expenses, future revenues, capital requirements and our needs for additional
financing; the timing or likelihood of regulatory filings and approvals; our ability to maintain and establish collaborations; our financial
performance; and developments relating to our competitors and our industry.
These statements relate to future events or to our future financial performance and involve known and unknown risks, uncertainties
and other factors that may cause our actual results, performance or achievements to be materially different from any future results,
performance or achievements expressed or implied by these forward-looking statements. Such risks and uncertainties include, among
others, the uncertainties inherent in the preclinical and clinical development process; the risks and uncertainties of the regulatory
approval process; our dependence on our collaboration partners, including Celgene, for the funding of our partnered programs; our
ability to raise additional capital to support the development of our unpartnered programs; our dependence on the development and
marketing efforts of our partners for the commercial success of our partnered product candidates; our reliance on third parties to
conduct certain preclinical studies and all of our clinical trials; our reliance on single source third-party contract manufacturing
organizations to manufacture and supply our product candidates; our ability to validate, develop and obtain regulatory approval for
companion diagnostics; our ability to achieve market acceptance and commercial success of our product candidates once regulatory
approval is achieved; our ability to discover, develop and commercialize additional product candidates; the ability of competitors to
discover, develop or commercialize competing products more quickly or more successfully; our dependence on our Chairman and
Chief Executive Officer and other key executives; risk of third party claims alleging infringement of patents and proprietary rights or
seeking to invalidate our patents or proprietary rights; and the ability of our proprietary rights to protect our technologies and product
candidates. Other factors that may cause actual results to differ materially from current expectations include, among other things,
those listed under “Risk Factors” or otherwise described in our Annual Report on Form 10-K filed with the U.S. Securities and
Exchange Commission (SEC) on March 9, 2017, our Quarterly Report on Form 10-Q filed with the SEC on May 8, 2017, and our other
current and periodic reports filed from time to time with the SEC.
Any forward-looking statement you see or hear during this presentation reflects our current views with respect to future events and is
subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, industry and future
growth. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Except as required by
law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes
available in the future.
33
OncoMed Pharmaceuticals
• Fundamental cancer
biology focused on I/O
• Human Tumor Bank,
and Humanized Mice
model platforms for I/O
• Antibody expertise:
MabTrap display,
bispecifc and trimer
ligand technologies
• Navicixizumab (anti-
DLL4/VEGF) &
Rosmantuzumab (anti-
RSPO3) on-going Phase
1b
• Anti-TIGIT on-going
Phase 1a
• GITRL-Fc Phase 1a
Initiation by 2H17
• Active I/O discovery:
future INDs
• $156M cash position funds
company through 3Q 2019
• Celgene Partnership: ~$98M
in potential opt-in payments
within next 2 years
• Co-Dev. / Co-Com. of
DLL4/VEGF and RSPO3
programs
• TIGIT Ph1b to be
conducted by Celgene
• Potential Wnt-I/O partnerships
Innovative
Platform
Diverse
Pipeline
Financial
Strength &
Value
Creation
44
Systematic Approach to Target Key Biological Pathways
NotchWnt, RSPOImmuno-oncology TIGIT, GITR others
Conduct comprehensive in vivo screening
Identify biomarkers
Elucidate key pathway interactions
1 2 3
Sources: Takebe, et al; Nature Reviews Clinical Oncology 04.07.15 | Melo, et al; Cancers 06.27.16 | Smyth, et al; Nature Reviews Clinical Oncology 01.24.15
55
Therapeutic Preclinical Phase 1 Phase 2
vantictumab
ipafricept
Therapeutic Preclinical Phase 1 Phase 2
navicixizumab
(bispecific)
rosmantuzumab
(Anti-RSPO3)
Anti-TIGIT
GITRL-Fc trimer
I/O Research
Pipeline
Potential future development in I/O combinations
66
Celgene Partnership Provides Funding and Value
• Strong, collaborative relationship• Celgene is a significant shareholder (~8%)
*Worldwide license (no co-co rights)
ProgramOpt-in
payment
Remaining
potential
milestones
Opt-in
StageCommercial rights
Navicixizum ab $25M $505M
Rosm antuzum ab $38M $440M
anti-T IGIT $35M $440M• Celgene WW license
• Celgene started work on Ph1b "at risk"
• Pr epa r in g for “ sea m less” tr a n sit ion
Phase 1
• WW co-development
• 1 /3 OMED – 2 /3 CELG cost split
• US co-commercialization
• 5 0-5 0 pr ofit split
• Ex-U.S. roy alties
77
Key Economics By Program
Partner ProgramOpt-in
payment
Remaining
potential
milestones
Commercial rights
GIT RL-Fc trim er
Vantictum ab OncoMed owned
Ipafricept
Navicixizum ab $25M $505M• 50/50 US
• Mid-single to mid-teens roy alties ex-
US
Rosm antuzum ab $38M $440M• 50/50 US
• Mid-single to mid-teens roy alties ex-
US
anti-T IGIT $35M $440M• High single-digit to high teens
roy alties WW
Sm all Molecules n/a $100M+ each • Single-digit roy alties WW
88
Navicixizumab (anti-DLL4/VEGF)Bispecific mAb Advancing in Phase 1b
Mechanism
• Dual anti-angiogenic effect; anti-CSC, I/O activity
• Simultaneous DLL4 and VEGF blockade synergistically inhibits tumor growth, delays tumor recurrence, and reduces cancer stem cell frequency
Program Status
• Phase 1b chemo combination trials in ovarian & colorectal cancers ongoing
• Interim Phase 1a data (N=51) demonstrated single-agent activity, with continuous dosing generally well tolerated
99
Navicixizumab (anti-DLL4/VEGF)Initial Evidence of Clinical Activity
Doses are mg/kg
outlined bar = prior bevacizumab
Duration on Study
Single-agent activity in heavily pre-treated patients
% Change in RECIST Target Lesion Size
EORTC-NCI-ACCR Symposium 2016
0 50 100 150 200 250 300 350
80
60
40
20
-20
0
-40
% C
ha
ng
e in
Tu
mo
r V
olu
me
Phase 1a Data: Ovarian Cancer Patients
(interim results as of October 2016)
0.5
2.5
3.5
7.5
10
12.5
1010
Rosmantuzumab (Anti-RSPO3)Biomarker Driven Hypothesis
• R-spondin (RSPO) ligands signal through the LGR receptor family
• RSPO is a key potentiator of beta catenin
Mechanism
• Biomarker-selected ( RSPO 3 fusion) Phase 1a expansion cohort and Phase 1b FOLFIRI combination trial in colorectal cancer or gastric cancer currently enrolling
• Safety established in Phase 1a, well tolerated, no MTD reached
Program Status
RSPO3+
Study Design
1111
Rosmantuzumab (Anti-RSPO3)Early Clinical Data
Time on Study
1212
Anti-TIGITFirst Immuno-Oncology IND
Mechanism
• TIGIT blocks T-cells from attacking
tumor cells
• Similar to PD1 in both structure and
function
Program Status
• Preclinical single-agent & combination
anti-tumor activity observed
• Phase 1a FPI May 2017
• Partnered with Celgene – Celgene
planning to conduct “basket” trial
including potential combo with Anti-
PD1
RENCA (RCC) Tumor Model
Anti-TIGITControl
Anti-TIGIT Preclinical ActivityAnti-TIGIT Preclinical Activity
1313
Anti-TIGITOMP-313M32 Phase 1a Dose Escalation
* 1st patient to receive 0.03, 0.1, then 0.3. After 5 days, 2nd patient dosed at 0.3.
1414
GITRL-Fc TrimerDifferentiated Approach to TNFR Superfamily
Approach
• Problem: Agonist mAbs are poorly
suited for trimeric TNF receptors
• OMED Solution: Fully human
single-gene ligand trimer-Fc
• Also amenable to bispecific formats
Program Status
• FPI 2H17
• OMED WW rights
GITRL-Fc Trimer Impact on Tumor Volume
1515
OncoMed’s I/O Research Strategy
Therapeutic Opportunities
ApproachImmune Activation (e.g., GITR)
• Leverage proprietary mAb/protein expertise
• Focus on the most important challenges in I/O space
• Validate with rigorous animal models
• Advance programs rapidly to development
Novel Checkpoint
Agents(e.g., TIGIT)
MDSC & Myeloid Suppression
Getting Leukocytes
into Tumors
1616
Financial Strength
Current Position
• $156.9M at end of 1Q17
• Cash through 3Q19 before any potential milestones/opt-ins
• ~37m Shares Outstanding
Long-Term Outlook
• ~$98 million potential Celgene partner milestones/opt-ins in next 2 years
• ~$1.5B+ in potential milestones from current partnerships
• Substantial downstream royalties and profit-sharing
• Exploring additional strategic partnerships to drive value
1717
Upcoming Milestones
Pipeline
1H17
Phase 1 Initiation - anti-TIGIT
2H17
• Phase 1 Initiation - GITRL-Fc Trimer
FY18
Opt-in Decisions – end of Phase 1b - navicixizumab and
rosmantuzumab (Celgene)
IND Filing – Additional I/O candidate
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