Altimmune, Inc. · NASDAQ:ALT
Altimmune — Pharmathene — Investor Presentation (December 2008)
25 slides from Altimmune's investor presentation, Dec 10, 2008
Slide 1: Dedicated to a safer world
Dedicated to a safer world December 2008
Slide 2: Safe Harbor Statement
2 2 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. This information may involve known and unknown risks, uncertainties and oth
Slide 3: Investment Highlights
3 Investment Highlights • Penetrating multi-billion dollar global biodefense market • Building highly competitive portfolio of next generation products • Pursuing focused acquisition strategy with significant revenue opportunities • Demonstrating strong track record obtaining significant government
Slide 4: Penetrating a Multi-Billion Dollar Market
4 Smallpox Rad/nuclear Botulism Other viruses Other Penetrating a Multi-Billion Dollar Market Project BioShield: $5.6B Market Opportunity Anthrax vaccines Anthrax anti-toxins Total anthrax share 36% or $2B opportunity targeted by PharmAthene Source: HHS Public Health Emergency Medical Countermeasure
Slide 5: Opportunities Beyond Project BioShield
5 Opportunities Beyond Project BioShield Department of Defense purchases $5B International purchases $6B Commercial purchases $1B Fortune 500 companies Leasing opportunities Total biodefense market opportunity ~$50B Project BioShield funding is only the tip of the iceberg $5.6B Actively pursuing add
Slide 6: Biodefense Development Process
6 Biodefense Development Process Typical Biotech Development Process Biodefense Development Process Safe & effective Safe & effective Discovery Pre-Clinical Proof of Concept Efficacy Non-Clinical Efficacy* EUA Sales FDA Approval Discovery Pre-Clinical Phase I Phase II Phase III FDA Approval Sales Hu
Slide 7: PharmAthene's Strategic Advantage
7 PharmAthene’s Strategic Advantage • Focus - Biodefense market • Experience - Identifying high-priority government needs - Identifying and acquiring best-in-class products - Collaborating with government to develop and commercialize products • Success - Up to $554MM* in contracts and funding awarde
Slide 8: Executive Leadership
8 Executive Leadership Senior Officers: Previous Affiliations: David P. Wright MedImmune, Guilford, GenVec, Smith-Kline President & Chief Executive Officer & French, G.D. Searle, Glaxo Christopher C. Camut RecoverCare, Wachovia, Alex Brown & Sons Chief Financial Officer Francesca Cook Guilford, Cova
Slide 9: Best-in-Class Portfolio
10 Best-in-Class Portfolio 2 3rd Generation rPA Anthrax Vaccine 1 rPA Anthrax Vaccine SparVax ™ 3 Anthrax Anti-Toxin Valortim® 4 Nerve Agent Prophylaxis Protexia®
Slide 10: rPA Anthrax Vaccine – SparVax
11 rPA Anthrax Vaccine – SparVax™ • Highly purified recombinant version of Protective Antigen • Produces vaccine-induced antibody response comparable to current licensed vaccine Recombinant Protective Antigen (rPA) anthrax vaccine Characteristics Advantages • 3 dose intramuscular regimen vs 6 dose s
Slide 11: Anthrax Vaccines - Market Opportunity
12 Anthrax Vaccines - Market Opportunity • rPA Anthrax Vaccine Opportunity – Initial DHHS procurement contract (rPA vaccine): 25MM doses – Potential market opportunity in RFP: $350MM - $600MM • Worldwide Anthrax Vaccine Market Source : analyst reports; company estimates 2007-2012 $1.1B 2012-2018 $1.
Slide 12: 3rd Generation rPA Anthrax Vaccine
13 3rd Generation rPA Anthrax Vaccine • Government Requirement – Develop 3rd generation rPA-based anthrax vaccine with • Enhanced stability – maintain stability for 3 years at 35ºC • Improved potency – induce protective immunity in 2 or fewer doses • PharmAthene’s 3rd generation product – Room tempe
Slide 13: Anthrax Anti-Toxin – Valortim
14 Anthrax Anti-Toxin – Valortim® • Fully human monoclonal antibody (MAb) of action • Potent anthrax toxin neutralizing activity • Mechanism of action appears similar to natural immune response Fully human monoclonal antibody (MAb) with a unique mechanism Characteristics Advantages • Capable of neut
Slide 14: Valortim - Impressive Data Package
15 Valortim® - Impressive Data Package • Initial Phase I in humans complete; no SAE’s attributed to Valortim® • Multiple animal studies have demonstrated efficacy 56% At time of ECL for PA AG Monkeys Treatment 42% 48 hrs post-exposure Rabbits Treatment 88% 24 hrs post-exposure Rabbits Treatment 100%
Slide 15: Anthrax Anti-Toxins Market Opportunity
16 Anthrax Anti-Toxins Market Opportunity • Current options are inadequate - Antibiotics are ineffective - Vaccines are inappropriate for treatment • USG requirements established for anti-toxins - DHS Material Threat Assessment: 200,000 treatments - DHHS procurements to date under 2004 RFP requireme
Slide 16: Nerve Agent Prophylaxis - Protexia
17 Nerve Agent Prophylaxis - Protexia® • Novel recombinant form of naturally occurring bioscavenger protein • Produced using innovative transgenic manufacturing platform Recombinant human BChE (Butyrylcholinesterase) Mimics natural “bioscavenger” Characteristics Advantages Over Standard of Care • Pr
Slide 17: Conventional Treatment Does Not Prevent Neurological Toxicity
18 Guinea pig exposed to only 1.5 x LD50 Soman and immediately given the conventional treatment of atropine / 2-PAM / Diazapam Conventional Treatment Does Not Prevent Neurological Toxicity Conventional Treatment • Only 50% of those exposed survived • Severe neurological deficits Source of the film:
Slide 18: Only Protexia Provides Superior Survival
19 Guinea pig pretreated with Protexia® and then 18 hours later exposed to 5.5x LD50 of Soman Only Protexia® Provides Superior Survival and Prevents Neurological Toxicity Protexia® Solution • 100% survival rate • No neurological deficits Source of the film: U.S. Army Medical Research Institute of Ch
Slide 19: Nerve Agents - Market Opportunity
20 Nerve Agents - Market Opportunity • Department of Defense advanced development procurement contract – Total value of up to $219MM* • $106MM in development funding • $113MM for procurement of initial 90,000 doses • Additional opportunity for civilian (SNS); ex-US military & civilian commercial pur
Slide 20: Investment Highlights
21 Investment Highlights • Penetrating multi-billion dollar global biodefense market • Building highly competitive portfolio of next generation products • Pursuing focused acquisition strategy with significant revenue opportunities • Demonstrating strong track record obtaining significant government
Slide 21: Unparalleled Track Record in this Sector
22 Unparalleled Track Record in this Sector Diversified biodefense portfolio 5 products Significant DoD contract for Protexia® up to $219M* NIH contract for 3rd generation anthrax vaccine up to $83.9M* Advanced development funding for Valortim® up to $24M* Total vaccines government funding to date u
Slide 22: Clear Roadmap to Create Value
23 Clear Roadmap to Create Value Develop and position products for commercial uses 4 Develop multiple government users and non-government customers 3 Expand portfolio through strategic acquisitions 2 Continue to obtain procurement contracts and increase revenues 1
Slide 23: Key 2009-10 Value Creation Events
24 2009 H1 H2 2010 H1 H2 Key 2009-10 Value Creation Events Potential SparVax™ procurement contract – 25M doses Complete Valortim® initial dose-ranging study (AGM) Potential for Valortim® advanced development funding Begin Valortim® Phase I clinical trial with antibiotics Complete Protexia® Phase I c
Slide 24: Investment Highlights
25 Investment Highlights • Large and growing market – Urgent requirements, multi-billion dollar market • Experienced management team – Previous long-term working relationships with strong execution skills • Successful execution of growth strategy – Advancing four best-in-class, next-generation produ
Slide 25: Dedicated to a safer world
Dedicated to a safer world December 2008