Regulatory Timeline09 Q1
09 Q2
09 Q3
09Q4
10 Q1
10 Q2
10 Q3
10Q4
11 Q1
11 Q2
11 Q3
11 Q4
Pre-C
Phase Ia
Phase Ib
Phase IIa
Phase IIb
Phase III
Mfg/ Tox
2012
2www.immunomix.com
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 JRC-LAMPvax (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 > $50 million
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Investor Return$ to Company Pre-Money Post-Money Per Share
Seed $250,000 $2.5 MM $3.5 MM $1.00
Non-dilutiveLicense / CRA $1,150,000 $1.33
LSGPA RoundCo-investment
$1,250,000$1,000,000 $5.7 MM $7.2 MM $1.70
Non-dilutiveLicense / CRA(JRC LAMPvax)
$200,000 $2.25
Series A Preferred $5,000,000 $9.2 MM $14.2 MM $3.00
Phase Ia/IiaMilestone $25 MM
Phase IIa/IibMilestone >$50 MM
Total $8,850,000 >$10.004www.immunomix.com
Building Value in Pennsylvania
ITI will re-locate its headquarters to Pennsylvania and establish a facility to develop allergy vaccines
2009 2010 2011Management CEO
Admin AsstCFO
Business Dev.
Development 1 Postdoc2 RA
1 Sr. Sci1 RA
1 Sci1 RA
Production 1 Prod Mgr QC Mgr3 Prod Staff
Total in PA 5 10 15
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