Altimmune, Inc. · NASDAQ:ALT
Altimmune — Pharmathene — Merger or Acquisition (April 2017)
24 slides from Altimmune's merger presentation, Apr 27, 2017
Slide 1: Corporate Presentation April 2017
CORPORATE PRESENTATION April 2017
Slide 2: Forward-Looking Statement Disclosure
FORWARD - LOOKING STATEMENT DISCLOSURE Any statements made in this presentation relating to future financial or business performance, conditions, plans, prospects, tre nds, or strategies and other financial and business matters, including without limitation, the potential closing date of the propose
Slide 3: Important Additional Information About the Merger
IMPORTANT ADDITIONAL INFORMATION ABOUT THE MERGER 3 This communication is being made in respect of the proposed merger involving PharmAthene, Inc. and Altimmune, Inc. PharmAthen e h as filed with the Securities and Exchange Commission, or SEC, a current report on Form 8 - K, which included the merge
Slide 4: PharmAthene/Altimmune are merging to create an immunotherapeutics company
PHARMATHENE/ALTIMMUNE 4 are merging to create an immunotherapeutics company targeting infectious diseases PharmAthene, Inc. (NYSE MKT: PIP) and As announced January 19, 2017
Slide 5: Combined Company
COMBINED COMPANY — 5 By combining forces, we have created a diversified immunotherapeutics company with: • A portfolio of promising clinical and preclinical product candidates targeting attractive commercial markets • Product candidates with clear advantages over current standard of care • Innovativ
Slide 6: Key Benefits of the Transaction and Merger Agreement
KEY BENEFITS OF THE TRANSACTION AND MERGER AGREEMENT 6 Special Cash Dividend: Cash Position of NewCo at Merger Closing: Financing Agreement: Synergies: Reverse Stock Split: PharmAthene’s special one - time cash dividend of $2.91/share of CS paid on February 3, 2017 Approx. $20M cash and cash commitm
Slide 7: Key Terms of the Transaction
KEY TERMS OF THE TRANSACTION 7 Proposed Transaction: Pro Forma Ownership: Next Steps: Name: Corporate Headquarters: Public Market: Tax - free, all stock transaction Altimmune equity holders 58.2% FD Consent Solicitation in process Stockholder meeting and vote scheduled May 4 th Altimmune, Inc. Gaith
Slide 8: Product Pipeline
PRODUCT PIPELINE 8 Novel product candidates utilizing new approaches to engage the immune system, offering fundamental advantages over competing therapies PRODUCT PRECLINICAL PHASE 1 PHASE 2 NEAR - TERM MILESTONES NasoVAX Phase 2 starts 3Q17 Initial data expected 1 Q 18 Development in concert with s
Slide 9: Proprietary Platform Technologies
PROPRIETARY PLATFORM TECHNOLOGIES 9 Two distinct, complementary vaccine platform technologies activate the immune system in different ways than traditional vaccines RespirVec • Replication - deficient adenovirus delivered intranasally to upper respiratory tract • Early and broad activation of the im
Slide 10: NasoVAX Intranasal Seasonal Influenza Vaccine
N aso VAX INTRANASAL SEASONAL INFLUENZA VACCINE Market • Global influenza market to reach $10.2 billion by 2022 1 • $2.0 billion annual U.S. flu vaccine market 2 • Annual deaths on par with breast cancer in the U.S. 3 with average annual vaccine efficacy of 40% between 2005 - 2015 4 • FluMist $288M
Slide 11: NasoVAX Preclinical Data
Rapid protection within 2 days • Vaccination led to cross - protection across multiple influenza strains in mice o Expected to protect even if virus changes after vaccine manufactured • Intranasal route provides rapid protection o Superior protection in 2 days o Rapid protection indicates activation
Slide 12: NasoVAX: Phase 2 Clinical Development
12 N aso VAX: PHASE 2 CLINICAL DEVELOPMENT Part A – safety & immunogenicity of single intranasal dose (3 dose levels) • Evaluation of antibody response to both matched and divergent strains • Cellular, innate and mucosal immunity Part B starts mid - year 2018 – influenza challenge study • Half chall
Slide 13: HepTcell: Chronic Hepatitis B Immunotherapeutic
13 Phase 1 Chronic Hepatitis B immunotherapeutic using the Densigen technology • T cell activating approach offers potential for disease cure • Ongoing Phase 1, initial data expected 4Q17 • Coverage against all known HBV strains expected • Designed for genetically diverse populations (Asian, African
Slide 14: HepTcell: Preclinical Data
14 HepTcell : PRECLINICAL DATA Elicits killing of autologous cells ‘infected’ with HBV • Mouse cells with either HBV proteins or unrelated viral proteins injected into mice vaccinated with HepTcell • Within 1 day, 91.7% of HBV loaded cells were eliminated Surmounts HBV - induced immune tolerance • I
Slide 15: HepTcell: Clinical Development
15 H epTcell : CLINICAL DEVELOPMENT Double - blinded, placebo - controlled trial in 60 patients • Chronic Hepatitis B disease population controlled with tenofovir or entecavir • Dosing at Days 1, 29, and 57 • Low vs high dose HepTcell ± IC31 adjuvant • Controlled for placebo and IC31 effects Study O
Slide 16: Future Generation Anthrax Vaccines
16 FUTURE GENERATION ANTHRAX VACCINES 8 Emergent BioSolutions Inc. website; 9 BioThrax MSDS • BioThrax (Anthrax Vaccine Adsorbed) or “AVA”, is the only anthrax vaccine with FDA approval • $237 million in sales in 2016 8 • Important limitations include • Protection requires 6 months and 3 injections
Slide 17: Future Generation Anthrax Vaccines: SparVax-L and NasoShield
17 FUTURE GENERATION ANTHRAX VACCINES SparVax - L Recombinant Protective Antigen (rPA) Anthrax Vaccine • Next generation lyophilized anthrax vaccine (NIAID funded) • Highly purified recombinant protective antigen • Non - human primate bridging study could be initiated 2H17 • Enhanced convenience and
Slide 18: SparVax-L and NasoShield: Preclinical Data
18 S parVax - L AND N aso S hield : PRECLINICAL DATA NasoShield — Single Dose Non - inferiority vs BioThrax (AVA) Faster, more durable protection 0 5 10 15 20 25 0 20 40 60 80 100 Survival Following Challenge Days to Death (Post-Challenge) P e r c e n t s u r v i v a l Placebo NasoShield 1.5E+09 vp
Slide 19: Anthrax Vaccine Programs
19 ANTHRAX VACCINE PROGRAMS Design : - 4 escalating dose cohorts with single intranasal dose - 1 cohort with highest dose repeated at day 21 - Intranasal placebo control for each cohort - Also randomized to open label AVA comparator Endpoints: - Safety and immunogenicity Design: Currently under disc
Slide 20: Combined Company Milestones
20 COMBINED COMPANY MILESTONES 3Q 2017 4Q 2017 NasoVAX Phase 2 trial initiation SparVax - L NHP bridging study HepTcell initial Phase 1 data We expect $20 million in cash and cash commitments at merger, plus BARDA and NIAID contract revenue, to be sufficient to fund milestones well into 2Q18. NasoSh
Slide 21: Strong Executive Management Team
21 STRONG EXECUTIVE MANAGEMENT TEAM Bill Enright President and Chief Executive Officer Elizabeth A. Czerepak Chief Financial Officer and Executive Vice President of Corporate Development Scot Roberts, Ph.D. Chief Scientific Officer Sybil Tasker, M.D., MPH, FACP, FIDSA Senior Vice President of Clinic
Slide 22: Combined Board of Directors
David Drutz, M.D. (Chairman) – Chairman Bill Enright – CEO and Director Philip Hodges – Director Klaus Schafer, M.D. – Director Mitchel Sayare, Ph.D. – Chairman John M. Gill – CEO and Director Derace Schaffer, M.D. – Director Extensive Experience Composition: Director Previous Position Altimmune Pha
Slide 23: Combined Company
COMBINED COMPANY — 23 By combining forces, we have created a diversified immunotherapeutics company with: • A portfolio of promising clinical and preclinical product candidates targeting attractive commercial markets • Product candidates with clear advantages over current standard of care • Innovati
Slide 24: 24 CORPORATE PRESENTATION April 2017
24 CORPORATE PRESENTATION April 2017