2. Forward Looking Statement
Our commentary and responses to your questions may contain forward-looking
statements, including comments concerning clinical trials and product
development programs, evaluation of potential opportunities, the level of
corporate expenditures, the assessment of Inovio’s technology by potential
corporate partners, capital market conditions, timing of events, cash
consumption and other subjects. Information concerning factors that could
cause actual results to differ materially from those set forth in our Annual
Report on Form 10-K for the year ended December 31, 2011, our Form 10-Q
for the quarter ended September 30, 2012, and other regulatory filings from
time to time.
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3. Inovio: Revolutionizing Vaccines
• Inovio’s synthetic vaccine technology designed to:
• Treat some of today’s most challenging diseases
• Provide universal protection against changing infectious
disease strains
• Break the body’s tolerance of cancerous cells
• Targeting unmet needs with multi-billion dollar potential:
cancers, universal flu, HIV, hepatitis B/C virus
• Multiple ongoing clinical trials: phase II and phase I
• Industry-leading potency & safety
• Best-in-class immune responses
• Dominant global IP position (424 patents issued/pending)
• Validation:
• $42M+ in non-dilutive grant funding over last few years
• Advancing discussions for vaccine product development
partnerships and further grant funding
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4. Conventional Vaccines
• Saved millions from sickness/death
• Added decades to life expectancy Increased life expectancy
• Deliver a virus or part of a virus to
expose a unique antigen (foreign
protein)
• Generate antibodies that prevent
targeted diseases from infecting cells
• Low hanging fruit picked – old
technology has reached its limitations
• Safety concerns: can cause the
disease or other bad side effects
• Rely on technology that is often more
than 50 years old; some vaccines are
still grown in chicken eggs
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5. Synthetic DNA Vaccine Platform
Revolutionizing vaccines through:
• Strong safety profile
• SynCon® “designer vaccines” give the body the DNA instructions to produce only the
targeted antigen - nothing more
• Generate powerful T-cells to kill infected cells or tumors (therapeutic vaccines)
• Manufacturing advantages: rapid, scalable, thermal-stable
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8. Best‐in‐Class Immune Responses in Humans
Therapeutic (T Cell) Preventive (Antibody)
Immune Responses Immune Responses
Inovio Clinical Competition Inovio Clinical Competition
Clinical Study Results Clinical Study Results
HPV-001 Best in class T Adenovirus vectors FLU-001/002 Broad Stockpiled
Cervical cell responses MVA vectors H5N1 protective inactivated
Cancer/ (magnitude and DNA vaccines Pandemic Flu antibody vaccines
Dysplasia durability); killing Peptides/proteins titers against
effect 6 different
(Science TM 2012) H5N1 strains
HVTN-080 Best in class T Adenovirus vectors FLU-101 Broad Trivalent
Preventive cell responses MVA vectors Universal Flu – protective inactivated
HIV Vaccine (magnitude and DNA vaccines H1N1 antibody virus vaccines
durability) Peptides/proteins titers against (TIV)
Combinations 9 different Live-attenuated
H1N1 strains vaccines
Page 8
9. Inovio’s Strategy
• Advance/validate SynCon® + electroporation delivery platform
• Best in-class immunogenicity established in human studies
• Develop proprietary products through proof-of-concept human
data (phase I or phase II) and partner them
• Maximize resources/opportunities; spread cost/risk
• Non-dilutive third party funding
• Direct: R&D grants
– $42M received since 2009
• Indirect: clinical trials sponsored by outside agencies
• Partner/out-license products for preclinical/clinical
development and marketing
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10. Inovio Product Pipeline
Indication Preclinical Phase I Phase II Milestone
Cervical Dysplasia 4Q 2013
Therapeutic Phase II study data
Cancers
Leukemia 2013
Therapeutic Additional Phase II data
Hepatitis C 1Q 2013
Therapeutic Phase II interim data
Infectious Diseases
HIV 1H 2013
Preventive/Therapeutic Publication of phase I data
Influenza 1H 2013
Preventive Phase I additional data
Internally Funded
Partner Funded/Supported
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11. VGX‐3100: Cervical Dysplasia/Cancer Therapy
• Cervical cancer: ~500,000 cases, 250,000 deaths yearly
• Cervical dysplasias (CIN) preceding cancer (U.S. annually)
• CIN 1: 1.4 M ; CIN 2/3: 300,000
• VGX-3100 phase I
• 18 patients, 3 dose levels
• Vaccine safe and well-tolerated
• Most robust T-cells generated by T cell
a DNA vaccine in humans responses
by other
• Stronger responses than other Low Mid High All
vaccines
Dose Level
vaccines, including viral vectors
• Strong T-cell response in 14 of 18
(78%) vaccinated subjects at month 4
• Durable responses: 12 of 13 responders (92%) displayed
persistent, strong T-cell responses at month 9
• Strong killing effect against target cells
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12. VGX‐3100: Phase II Study
• Randomized, blinded, placebo controlled
• > 25 sites in multiple countries
• 148 patients with CIN 2/3
• Three vaccinations over 3 months, 6 months monitoring
• Primary endpoint: CIN 2/3 lesion clearance at month 9
• Initiated in 2011; enrollment ongoing
• Efficacy data expected 4Q 2013
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13. Leukemia Vaccine: Phase II
• Chronic myeloid leukemia (CML) 300,000+ new cases,
• Acute myeloid leukemia (AML) 222,000 deaths yearly
• Vaccine coded for Wilms’ tumor gene 1 (WT1)
• Overexpressed in majority of acute leukemias
• Open label phase II clinical trial
• Active: 37 CML patients, 37 AML patients
• Control group: 100-110 AML/CML patients, non-vaccinated
• Primary endpoints
• CML: molecular response to disease marker (BCR-ABL)
• AML: time to disease progression
• Initiated in 2011; enrollment ongoing; interim data presented 4Q 2012
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14. ChronVac‐C® Therapeutic Vaccine
• Hepatitis C virus (HCV)
• 3.5 million chronically infected in US; >170 million worldwide
• Causes liver disease/cancer
• Positive phase I study (HCV genotype 1): ChronVac-C + standard of care (SOC:
interferon & ribavirin)
• Safe & well-tolerated
• Positive T-cell immune responses
• Sustained viral response (SVR): 5 of 6 patients (83%)
• Open label, randomized phase II study (32 patients)
• Vaccinated (20): 2 vaccinations; Control (12): SOC only
• Primary endpoints
• Rapid viral response (4 weeks)
• Partial early viral response (pEVR) (12 weeks)
• Initiated in 2011; enrollment completed
• Interim data expected 1Q 2013
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15. PENNVAX‐B: Phase I Studies
• Preventive study, randomized, placebo-controlled: run by HVTN
• Three vaccinations over 3 months; 48 vaccinated subjects, 3 arms:
• 1 mg PENNVAX-B (n=10)
• 1 mg PENNVAX-B + DNA IL-12 delivered via EP (n=30)
• Placebo (n=8)
• T-cell immune responses superior to all other previously-tested HIV vaccines
• Submitted for publication
T-cell Responses
by intracellular cytokine staining (ICS) assay
Positive Reponses Placebo Group Vaccine + DNA IL-12 + EP
Total CD4 + CD8 0% (0/8) 88.9% (24/27)
__________________________________________________________________
__________________________________________________________________
• Therapeutic study, open label, 12 vaccinated subjects, run by UPenn
• Significant antigen-specific CD8+ T-cell responses:
• against at least 1 of 3 antigens (gag, pol, or env) in 75% of subjects
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16. SynCon® Universal Influenza Vaccines
• H5N1 phase I data:
• Strong T-cell/antibody responses
• => 1:20 HAI titers – 71% positive
responders to at least 1 H5N1 virus
• Protection against all six unmatched
H5N1 strains tested
• H1N1 phase I data:
• Significant # of responders
exceeding 1:40 HAI titers against
different strains
• Protection against all nine
unmatched H1N1 strains tested
• Prime-boost with seasonal vaccine
doubled protection rate in elderly
Potential to shift flu vaccination
from “one bug, one drug” approach to
pre-emptive, universal prevention across
strains, subtypes and years
Page 16
17. Management
J. Joseph Kim, PhD, President & Peter Kies, CFO
CEO
• Decades of biotechnology/pharma • Ex-Ernst & Young
management • Experience with growth companies
• Ex-Merck: hepatitis A and B vaccines
manufacturing; HIV vaccine (Ad5)
R&D
Niranjan Y. Sardesai, PhD, COO Mark L. Bagarazzi, MD, CMO
• Extensive biotech management • Clinical research experience incl.
and product development Merck
experience • Led clinical/regulatory for shingles
• Led development of diagnostics and rotavirus vaccines; DNA vaccine
for mesothelioma, bladder expert
cancer, and ovarian cancer for
Fujirebio Diagnostics
Managed development and approval of several vaccines Page 17
18. Board of Directors
Avtar Dhillon, MD, Chairman, BOD Morton Collins, PhD
• Former President & CEO, Inovio • General Partner, Battelle Ventures
Biomedical and Innovations Valley Partners
Simon X. Benito J. Joseph Kim, PhD
• Former Senior Vice President, Merck • President & CEO, Inovio
Vaccine Division
Angel Cabrera, PhD Adel Mahmoud, PhD
• President, George Mason University • Professor, Princeton University
• Former President, Thunderbird School • Former President, Merck Vaccines
of Global Management • Responsible for Gardasil®, Zostavax®,
Proquad® and Rotateq®
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19. Scientific Advisory Board
David B. Weiner, PhD, Chairman
• “Father of DNA vaccines”
• Dept. of Pathology & Laboratory
Medicine, U of PA
Thomas S. Edgington, MD Philip Greenberg, MD
• Founded multiple biotech companies; • Expert in T-cell immunology
extensively published • Head, Immunology Program, Fred
• Emeritus Professor, Scripps Research Hutchinson Cancer Research Center
Institute
Anthony W. Ford-Hutchinson, PhD Stanley A. Plotkin, MD
• Former SVP, Vaccines R&D, Merck • Developed rubella and rabies vaccines
• Oversaw development: Singulair®, • Oversaw Sanofi flu vaccine
Januvia®, Gardasil®, Zostavax®, • Emeritus Professor, Wistar Institute &
Proquad® and Rotateq® U of Penn
Page 19
20. Financial Information
Cash & short term investments1 $15.2 M
Debt1 0M
Cash runway 3Q 2013
Listing NYSE MKT: INO
Issued & outstanding shares1 137.1 M
Recent price2 $0.48
Market cap2 $66.89M
1 September 30, 2012 2 December 10, 2012
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21. Investment Summary
• Paradigm shifting synthetic vaccine platform
• Best-in-class immunogenicity
• Characteristics significantly improving upon conventional and new
competitive vaccine technologies
• Strong management: vast vaccine discovery & development
expertise
• Extensive third-party grant funding
• Important validating clinical milestones over next quarters
• Advancing partnership discussions with large pharmaceutical
companies
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