Abeona Therapeutics Inc. Common StockABEO
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Abeona Therapeutics Inc. Common Stock 12th Annual Cantor Fitzgerald Global Healthcare Conference

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Transcript

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Kristen KluskaAnalyst

Morning everybody. Welcome to Cantor's Global Healthcare Conference, day one. I am Kristin Kluska, one of the analysts at Cantor. Very happy to have the Abeona Therapeutics team with me. We have Dr. Vish Seshadri, the CEO, and Dr. Madhav Vasanthavada, the CCO. Thank you both so much for being here today.

Vish SeshadriCEO

Always a pleasure. Thank you, Kristin.

Kristen KluskaAnalyst

So maybe to start our conversation off, do you mind just providing us with a high-level overview of the company?

Vish SeshadriCEO

Absolutely. Abeona, as you know, is a commercial stage cell and gene therapy company. We are pioneering medicines for the highest unmet needs, and our flagship product is ZEVASKYN, which launched late last year, in a disease called recessive dystrophic epidermolysis bullosa. Patients with a lot of chronic wounds that lead to complications, and they do not have normal lives. And ours is the only autologous cell therapy that addresses the gene deficiency. And the launch is well underway. Other than ZEVASKYN, we also have our partnered programs with Ultragenyx, and Taysha, and Beacon. And we have an early-stage preclinical asset in the PSMA prostate cancer space that is going into clinic next year. So many, many exciting catalysts on the way.

Kristen KluskaAnalyst

Okay, thanks. Maybe we can kick it off with talking more about the ZEVASKYN launch. You have boarded 7 QTCs to date. What is the geographical footprint? Are these centers that have higher traffic of RDEB patients to begin with? Why were they ultimately selected?

Vish SeshadriCEO

Yeah. We have 7 qualified centers. Most recently, we activated Cincinnati Children's, which is one of the largest EB centers in the U.S., also very well recognized globally. We have a wide footprint geographically from the west to the east. Can you hear me okay?

Vish SeshadriCEO

Yeah. Starting from California and the West Coast, we have the Colorado, Chicago area, Texas, the East Coast.

Vish SeshadriCEO

These are all very well-known centers. It is important that we activate onboard centers that are well respected and trusted by these patients because this is a patient community that requires lots of handling and comorbidities, complications, GI dilatation, pain management, infection management. Onboarding these well-known centers is going to help us with, now that they are active with patient identification and moving them through the process. There are additional centers that are interested in bringing ZEVASKYN onto those centers also.

Kristen KluskaAnalyst

Okay, great. How do patients become matched with specific QTCs that they are ultimately going to work with to get the ZEVASKYN treatment? Is this based on proximity, when they are available? On that note, do you plan to add more centers in the future?

Vish SeshadriCEO

Yeah. We don't match a patient to a center. That's typically done either based on patient's own preference, where they're comfortable going with, or the relationship that the referring doctor has got with one center versus the other. Sometimes we have seen insurance companies actually dictate, because it depends on the payer plan of that patient, if the center is in-network or out-of-network, that also helps guide as to what's the right center to go. Like I said, I think we do have centers that clearly want to bring ZEVASKYN on board, and that's only going to further expand our geographic footprint and minimize the travel burden for these patients.

Kristen KluskaAnalyst

Okay. What are the top areas of excitement that patients are bringing up during this process, and where are they showing the most hesitation?

Vish SeshadriCEO

The area that's most exciting to these patients is the fact that they have a treatment option that can provide long-term durable benefit by healing their wounds, reducing pain. The fact that they don't have to spend many hours in bandage dressing changes, they can live their life. This is huge for these people. There is a very high unmet need, even though we have multiple therapeutic options. Of course, we know that this is a surgical application, and patients are hesitant. Hesitant in the sense they want to know what the process entails. That also depends on the age. You've got young adults and adults who have spent their life going through many complicated procedures, so they kind of know what to expect. But then you have other younger or parents who want to know what involves.

Vish SeshadriCEO

We've actually helped bridge that or mitigate that by putting these patients or prospective patients in touch with people who have gone through our clinical trials. We have a group of patients called Strong Together Network. These are patients who have received ZEVASKYN not just once, but twice because they have seen the benefit. By helping bridge make those connections, that's really helping prospective patients understand what to expect.

Kristen KluskaAnalyst

Thank you. Have coverage and reimbursement timelines, processes improved over time as you have added more states into the mix with the QTCs?

Vish SeshadriCEO

Reimbursement coverage and reimbursement timeline is still, I would say, our biggest sort of bottleneck. It takes time, and it is expected. ZEVASKYN is a high-cost gene therapy. Insurance company wants to make sure that the medical necessity is established, and the product is covered. The good news is that we have a really robust coverage, with more than 95% of commercial lives that are covered by ZEVASKYN. We have Medicaid, all 51 Medicaid jurisdictions are covering ZEVASKYN baseline. We recently received a New Technology Add-on Payment that CMS issued, which really shows the value that payers sort of acknowledge. We have not received any ultimate denial of ZEVASKYN to none of the patients who have applied. That is the good news.

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