IMUGENE LIMITED — AGM Information 2010

Nov 25, 2010

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IMUGENE LIMITED Advanced Vaccine Technologies Disease control in pigs and poultry Annual General Meeting 26 November 2010

Dr Warwick Lamb Managing Director

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• New global license agreement signed

• top 5 international Animal health company

• Financial position strengthened by new license deal

• A$1.75m income to date in 2010/11 year

• PRRS vaccine development progresses

• Imugene trial in mid 2010 continues product development

• Further laboratory based technology improvements

• Value added to several vaccines

• Patent portfolio strengthened with new inventions

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Aim: Partner with a firm that brings the global expertise in commercialisation, regulatory approval, sales and marketing Achievements:  Agreement with Novartis Animal Health – international industry validation

Benefits:

• Commercial partners better placed to determine product development, priorities, manufacturing and distribution

• Work to our company strengths

• Complements commercial partners development priorities and synergies

• Economic valuation superior with licensing model – provided deal is the right deal – ours is.

Aim: Product Development - Develop and advance a deep pipeline of products to proof of concept

Achievements:

• Improved science & patents

• Proof of concept trials on major products

• Benefits:

• Validation of platform

• Controlled costs of development prior to income generation

• Clearly defined skill set & commercial strategy

• Assist global partner

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Imugene

Novartis

• Technology transfer

• Fund product development

• Provide vaccines for trials

• Designs & perform all trials

• Expand product pipeline

• Construct new vaccines

• Develop commercial scale manufacturing process

• Manage patent position

• All regulatory work

• Modify existing vaccines if required

• Maximise product range from both platforms

Imugene to be reimbursed for costs

Novartis requires confidentiality on development & terms

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• Successful US PRRS trial

• Evaluated four PRRS vaccine variations

• Primary candidate performed best

• Reproduced important findings from Imugene’s 2008 trial

• Criteria used to evaluate the vaccine are based on those used by USDA for regulatory approval

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2008

2010

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10 12
10
8
8 Control
6
Control T2
6
T2 T3
4
T2 Oral 4 T4
T5
2
2
0 0
Day 42 Day 42
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Lung Lesion Scores

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• Cell line for manufacture of all FAV vaccines and the Productivity Enhancer confirmed

• Improved growth kinetics for PAV vaccines improves yield and reduces cost of goods – Patents lodged and if granted increase PAV vaccine protection until 2028-2030

• May enable lower dose of PRRS vaccine

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• Technical and material transfer

• Liaise and advise on laboratory procedures and animal trial designs

• Develop new vaccines as required

• Maintain laboratory capability

• Patent management

• Investor relations – Buchan Consulting

• Analyst briefings commenced

• Bioshares coverage

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• International industry validation

• Large upside from royalties and other fees

• Spend of < A$10 million to date

• Income from licensees of over A$4.75 million to date

• Limited costs moving forward

• Focussed company responsibilities

• Products meet demand in large global markets

• Deep product pipeline

• Secure patent position

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• Directors & management

  - **Graham Dowland – Chairman**

  - **Warwick Lamb – CEO**

  - **Roger Steinepreis – Director**

  - **Mike Sheppard – Chief Scientific Officer**

• Shares on issue

• Options (non board)– Mar 11, 20c

143.6 m 3.0 m

• Ownership:

• Board, management & their associates

11 %

• No debt, Minimal overhead, Cash 30 Nov 10 $2.5 m

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