Immunomics Investment & Valuation Milestones June 2009
www.immunomix.com
Regulatory Timeline 09 Q1 Pre-C
09 Q2
09 Q3
09 Q4
10 Q1
10 Q2
10 Q3
10 Q4
11 Q1
11 Q2
11 Q3
11 Q4
Mfg/ Tox
Phase Ia
Phase Ib Phase IIa Phase IIb Phase III
2012
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2
Value Generating Milestones Milestone
Funding Required to Achieve Milestone
Impact on Valuation
Geron Publishes Results of AML Study (5/09)
Received Payment for License Fee (no cost to ITI)
$1.5 million from license & milestone payments
IND filed for Red Cedar LAMPvax Vaccine (1/10)
$1,750,000
$1,750,000
Capture partner for JRCLAMPvax (12/09)
$150,000
$2.5 million from license fees & milestone payments
Conduct Phase Ia / Ib Study with JRC LAMPvax (6/10)
$500,000
> $10 million
Conduct Phase Iia / IIb Study with JRC LAMPvax (Q1/11)
$1,000,000
> $40 million
TOTALS
$3,400,000
> $50 million
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3
Investor Return $ to Company
Pre-Money
Post-Money
Per Share
Seed
$250,000
$2.5 MM
$3.5 MM
$1.00
Non-dilutive License / CRA
$1,150,000
LSGPA Round Co-investment
$1,250,000 $1,000,000
Non-dilutive License / CRA (JRC LAMPvax)
$200,000
Series A Preferred
$5,000,000
$1.33 $5.7 MM
$7.2 MM
$2.25 $9.2 MM
$14.2 MM
Phase Ia/Iia Milestone
$25 MM
Phase IIa/Iib Milestone
>$50 MM
Total $8,850,000 www.immunomix.com
$1.70
$3.00
>$10.00
4
Building Value in Pennsylvania ITI will re-locate its headquarters to Pennsylvania and establish a facility to develop allergy vaccines 2009
2010
Management
CEO Admin Asst
CFO Business Dev.
Development
1 Postdoc 2 RA
1 Sr. Sci 1 RA
1 Sci 1 RA
1 Prod Mgr
QC Mgr 3 Prod Staff
10
15
Production Total in PA
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5
2011
5