Altimmune, Inc. · NASDAQ:ALT
Altimmune — Pharmathene — Merger or Acquisition (February 2017)
25 slides from Altimmune's merger presentation, Feb 1, 2017
Slide 1: Merger Overview January 2017
Merger Overview January 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 w ill file with the Securities and Exchange Commission, or SEC, a current report on Form 8 - K, which will include the m
Slide 4: PharmAthene/Altimmune are merging to create an immunotherapeutics company targeting infectious diseases
PHARMATHENE/ALTIMMUNE 4 are merging to create an immunotherapeutics company targeting infectious diseases PharmAthene, Inc. (NYSE MKT: PIP) and
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: Merger Rationale
MERGER RATIONALE 6 • Creates innovative immunotherapeutics company with proprietary products and technology platforms • Leverages public company infrastructure and provides access to public financial markets • Provides two complementary government funded clinical stage next generation anthrax vaccin
Slide 7: Key Benefits of the Transaction and Merger Agreement
KEY BENEFITS OF THE TRANSACTION AND MERGER AGREEMENT 7 Special Cash Dividend: Cash position: Financing Agreement: Synergies: Reverse Stock Split: No change to PharmAthene’s announced special one - time cash dividend of $2.91/share of CS payable February 3 rd Approx. $20M cash and cash commitments Co
Slide 8: Key Terms of the Transaction
KEY TERMS OF THE TRANSACTION 8 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 9: Product Pipeline
PRODUCT PIPELINE 9 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 10: Proprietary Platform Technologies
PROPRIETARY PLATFORM TECHNOLOGIES 10 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 i
Slide 11: NasoVAX Seasonal Influenza Vaccine
11 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 12: NasoVAX single-dose intranasal influenza vaccine
12 N aso VAX Phase 2 single - dose intranasal influenza vaccine delivered using the RespirVec platform Potential significant advantages over traditional flu vaccines: • Cross - protection against changing virus strains • Rapid protection (days rather than weeks) • Anticipated use in young children,
Slide 13: NasoVAX: Phase 2 Clinical Development
13 N aso VAX: PHASE 2 CLINICAL DEVELOPMENT Part A initial data Q4 2017 • Part A - Safety and immunogenicity of higher doses than previously tested • Evaluation of antibody response against divergent strains • Part B - proof of concept – subjects randomized to vaccine or placebo • Half challenged at
Slide 14: HepTcell chronic hepatitis B immunotherapeutic
14 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 15: HepTcell: Preclinical Data
15 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 16: HepTcell: Clinical Development
16 H epTcell : CLINICAL DEVELOPMENT Double - blinded, placebo - controlled trial in 60 patients • Chronic Hepatitis B disease population controlled with nucleoside therapy • Dosing at Days 1, 29, and 57 • Low vs high dose HepTcell ± IC31 adjuvant • Controlled for placebo and IC31 effects Study Objec
Slide 17: Future Generation Anthrax Vaccines
17 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 18: Future Generation Anthrax Vaccines: SparVax-L and NasoShield
18 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 II bridging study anticipated 2H17 • Enhanced convenience and cost - effectiven
Slide 19: SparVax-L and NasoShield: Preclinical Data
19 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 20: Anthrax Vaccine Programs
20 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 21: Combined Company Milestones
21 COMBINED COMPANY MILESTONES Mid - 2017 4Q 2017 2H 2017 1H 2018 NasoVAX Phase 2 trial initiation NasoVAX initial Phase 2 data HepTcell initial Phase 1 data NasoShield Phase 1 trial initiation SparVax - L Phase 2 bridging study NasoShield preliminary Phase 1 data SparVax - L Phase 2 data
Slide 22: Strong Executive Management Team
22 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 23: Combined Board of Directors
23 COMBINED BOARD OF DIRECTORS Extensive Experience Composition PharmAthene Altimmune • Public company Board members in the life sciences industry • Valuable guidance and relationships for ongoing efforts 3 Directors 4 Directors New Board Composition to be disclosed in the joint proxy filing New Boa
Slide 24: Combined Company — Investment Opportunity
24 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 25: Merger Overview January 2017
25 Merger Overview January 2017