Altimmune, Inc. · NASDAQ:ALT
Altimmune — Pharmathene — Merger or Acquisition (February 2017)
23 slides from Altimmune's merger presentation, Feb 13, 2017
Slide 1: Corporate Presentation - BIO CEO
CORPORATE PRESENTATION BIO CEO February 13, 2017 Filed by PharmAthene , Inc. Pursuant to Rule 425 under the Securities Act of 1933, as amended, and deemed filed pursuant to Rule 14a - 12 under the Securities Exchange Act of 1934, as amended Subject Company: PharmAthene , Inc. Commission File No.: 33
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 — Investment Opportunity
COMBINED COMPANY — INVESTMENT OPPORTUNITY 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 • Innovative platform technologies for continued growth • A s
Slide 6: Key Benefits of the Transaction and Merger Agreement
KEY BENEFITS OF THE TRANSACTION AND MERGER AGREEMENT 6 Special Cash Dividend: Cash position: 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 commitments Commitments include no
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 Proxy Statement / Prospectus / Consent Solicitation Stockholder meeting and vote Altimmune, Inc. Gait
Slide 8: Product Pipeline
PRODUCT PIPELINE 8 Novel product candidates utilizing a new approach to engage the immune system, offering fundamental advantages over competing therapies PRODUCT PRECLINICAL PHASE 1 PHASE 2 NEAR - TERM MILESTONES NasoVAX Phase 2 starts mid - 17 Initial data expected 4 Q 17 Development in concert wi
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 • Quick and broad activation of the im
Slide 10: NasoVAX Seasonal Influenza Vaccine
10 N aso VAX SEASONAL INFLUENZA VACCINE Market • Global influenza market to reach $10.2 billion by 2022 • $2.0 billion annual U.S. flu vaccine market • FluMist $294M in 2015 Key Differentiators • Broad cross - protection against changing virus strains • Rapid protection (days rather than weeks) • Mu
Slide 11: NasoVAX: Phase 2 Clinical Development
11 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 1H 2018 – influenza challenge study • Half challenged at
Slide 12: HepTcell: Chronic Hepatitis B Immunotherapeutic
12 Phase 1 Chronic Hepatitis B immunotherapeutic using the Densigen technology • Ongoing Phase 1, initial data expected 4Q17 • Coverage against all known HBV strains expected • T cell activating approach offers potential for disease cure • 240 million people chronically infected worldwide with >1 mi
Slide 13: HepTcell: Preclinical Data
13 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 14: HepTcell: Clinical Development
14 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 15: Future Generation Anthrax Vaccines
15 FUTURE GENERATION ANTHRAX VACCINES 8 Emergent BioSolutions Inc. website; 9 BioThrax MSDS • BioThrax (Anthrax Vaccine Adsorbed) is only anthrax vaccine with FDA approval • $294 million in sales in 2015 8 • Important limitations include • Protection requires 6 months and 3 injections 9 • Injection
Slide 16: Future Generation Anthrax Vaccines: SparVax-L and NasoShield
16 FUTURE GENERATION ANTHRAX VACCINES SparVax - L Recombinant Protective Antigen (rPA) Anthrax Vaccine • Next generation lyophilized anthrax vaccine (NIAID funded) • Highly purified recombinant protective antigen • Phase 2 bridging study anticipated 2H17 • Enhanced convenience and cost - effectivene
Slide 17: SparVax-L and NasoShield: Preclinical Data
17 S parVax - L AND N aso S hield : PRECLINICAL DATA NasoShield — Only One Dose Non - inferiority vs BioThrax 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 Naso
Slide 18: Anthrax Vaccine Programs
18 ANTHRAX VACCINE PROGRAMS Design : - 4 escalating dose cohorts with single intranasal dose - 1 cohort with highest dose repeated at day 14 - Intranasal placebo control for each cohort - Also randomized to open label AVA comparator Endpoints: - Safety and immunogenicity Design: - Randomized double
Slide 19: Combined Company Milestones
19 COMBINED COMPANY MILESTONES Mid - 2017 2H 2017 4Q 2017 1H 2018 NasoVAX Phase 2 trial initiation NasoShield Phase 1 trial initiation SparVax - L Phase 2 bridging study NasoVAX initial Phase 2 data HepTcell initial Phase 1 data NasoShield initial Phase 1 data SparVax - L Phase 2 data We expect $20
Slide 20: Strong Executive Management Team
20 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 21: 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 Schafer, M.D. – Director Extensive Experience Composition: Director Previous Position Altimmune Phar
Slide 22: Combined Company — Investment Opportunity
22 COMBINED COMPANY — INVESTMENT OPPORTUNITY By combining forces, we have created a diversified immunotherapeutics company with: • A portfolio of promising clinical and preclinical product candidates targeting attractive commercial markets • Innovative platform technologies for continued growth • A
Slide 23: 23 CORPORATE PRESENTATION February 13, 2017
23 CORPORATE PRESENTATION February 13, 2017