Race Oncology

PHILLIP LYNCH

CEO & MANAGING DIRECTOR

(ASX:RAC)

◾ Company Name: Race Oncology ◾ Company ASX code: RAC ◾ Key areas: Anti-cancer drug Zantrene in multiple indications: breast cancer, melanoma, AML and MDS ◾ Key Personnel: Phillip Lynch, CEO & Managing Director | Dr Daniel Tillett, Chief Scientific Officer | Dr. John Cullity Non-Exec, Chairman ◾ Locations: Sydney, Australia ◾ Market Cap as of 15/09/22: $324.70M ◾ 52 Week share price as of 15 September: $1.450 - $3.830 ◾ Company Website: raceoncology.com

COMPANY PROFILE

Race Oncology is a precision oncology company with a late stage Phase 2/3 cancer drug called Zantrene which breakthrough preclinical research has shown protects hearts from anthracycline damage, while improving the killing of breast cancer cells.

While it’s been clear for decades that chemotherapy is highly effective in destroying tumorous cells, what many don’t realise is that serious heart-related problems can arise during chemotherapy treatment.

A recent study showed that adult cancer survivors have a 42% greater risk of heart failure and other cardiovascular diseases later in life than those without cancer. Solving this opens a large addressable market for Zantrene that’s estimated to reach into the billions of dollars.

Race has shown Zantrene combined with chemotherapeutic drug doxorubicin not only protects the heart, but is also more effective at killing cancer cells.

A mouse study completed in June further showed that Zantrene was able to protect the hearts of mice from the damaging effects of doxorubicin, without additional toxicity or bone marrow suppression.

In addition to its breast cancer research, Race is also currently pursuing two other opportunities with regards to Zantrene.

Firstly, Zantrene has been found to be a potent inhibitor of the ‘Fatso’ fat mass and obesity associated (FTO) protein. Overexpression of FTO has been shown to be the genetic driver of a diverse range of cancers.

The FTO protein is over-produced in approximately 50% of metastatic melanomas, which is one of the most lethal and treatment resistant cancers with a 5-year survival rate for advanced melanoma of only around 25%.

A pre-clinical mouse study showed that Zantrene, when combined with immunotherapy, shrinks melanoma tumours that do not respond to immunotherapy alone.

The third area where Race is exploring uses for Zantrene is as a treatment for leukaemia, with the drug currently being trialled in a Phase 1b/2 study in AML (Acute Myeloid Leukemia) and MDS (Myelodysplastic Syndromes).

This trial was expanded in June to include five additional trial sites in Europe and will recruit up to 60 patients in the near future.

In earlier mouse studies, Zantrene was found to kill a genetically diverse range of AML cells at low drug concentrations and AML tumours in mice. This research also found that low dose Zantrene in combination with another AML drug (decitabine) can better kill AML tumours.

Due to the multiple indications that Race is concurrently pursuing, combined with the extensive clinical history of Zantrene, Race believes it is a lower risk drug that presents a compelling investment for investors.

Race Oncology is managed by a team of pharmaceutical industry experts, including CEO Phillip Lynch, who brings more than 30 years’ experience working in Asia Pacific markets with Johnson & Johnson.

Lynch is a highly-experienced Board Director with a diverse background across corporate development, strategy, financial performance, marketing and governance.

Chief scientific officer Dr Daniel Tillett was the founder and CEO of Nucleics, a private Australian biotechnology company producing and selling world leading DNA sequencing software to the genomics industry.

Tillett has extensive commercial experience over the last 20 years in the biotech industry in project management, sales and marketing, IP management, fundraising and start-up investing.

Race is chaired by Dr. John Cullity, who has previously held senior executive roles with Sanofi-Aventis and Schering-Plough in the US, and has consulted to the World Health Organization and the World Bank.

KEY INVESTMENT HIGHLIGHTS

MAY 12, 2022: Race expands its FTOtargeting clinical trial in extramedullary Acute Myeloid Leukaemia (EMD AML) and Myelodysplastic Syndromes (MDS). to Europe. JUNE 22, 2022: Zantrene found to improve cancer immunotherapy in a mouse model of treatment resistant melanoma. JUNE 30, 2022: Race’s drug Zantrene found to protect the hearts of mice from the permanent damage caused by the commonly-used chemotherapeutic doxorubicin.