Medexus Pharmaceuticals (MDP) Canaccord Genuity’s 45th Annual Growth Conference summary

Company overview and mission

• Focuses on rare disease and orphan drug markets, aiming to improve patient outcomes and save lives.

• Operates in the U.S. and Canada with about $100 million in annual revenue and 15 marketed products.

• Management holds significant ownership, aligning interests with growth.

• Revenue is primarily generated in the U.S., accounting for 63% of total sales.

• Business model centers on acquiring and commercializing late-stage or registered drugs.

Growth strategy and business model

• Emphasizes organic growth and portfolio expansion through licensing and M&A.

• Focuses on three therapeutic areas: hematology/oncology, allergy/dermatology, and autoimmune disease.

• Minimizes R&D risk by improving existing labels rather than developing new drugs.

• Leverages established commercial teams in both the U.S. and Canada for efficient product launches.

• Selects assets with strong commercial potential to mitigate risk.

Key product catalyst: GRAFAPEX (triosulfan)

• GRAFAPEX, recently launched, is expected to more than double revenue and improve gross margins.

• Approved by the FDA in January and launched in February, with strong early uptake and positive payer decisions.

• Received MTAP approval, enabling $21,000 reimbursement per Medicare patient and seven years of exclusivity.

• Canadian experience shows rapid market share growth, especially after reimbursement approval.

• Clinical data demonstrates a 30% improvement in overall mortality and significant real-world survival benefits.