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 June 30, 2012, and other regulatory filings from time to
time.
Page 2
3. Inovio: Revolutionizing Vaccines
• Inovio’s synthetic vaccine technology designed to:
• Treat some of today’s most challenging diseases
• Universally protect 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 for cervical dysplasia & HIV
• Dominant global IP position (424 patents issued/pending)
• Validation:
• $35M+ in non-dilutive grant funding over last few years
• Advancing discussions for vaccine product development
partnerships and further grant funding
Page 3
4. Conventional Vaccines
Increased life expectancy
• Saved millions from sickness/death
• Added decades to 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 Five decade-old technology is great . . .
technology has reached its limitations but does not solve tomorrow’s challenges
• 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
Page 4
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
Page 5
6. SynCon® Universal Vaccine Design
Immune responses more cross-reactive (universal)
than those induced by single-strain vaccines Page 6
8. Best-in-Class Immune Responses in Humans
Immune Responses
T Cell Responses Antibody Responses
Inovio Clinical Clinical Results Competition Inovio Clinical Clinical Competition
Study 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) Peptides/proteins titers against
6 different
H5N1 strains
HVTN-080 Best in class T Adenovirus vectors FLU-101 Broad Trivalent
Preventive HIV cell responses MVA vectors Universal Flu – protective inactivated
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 platform
• Best in-class immunogenicity established in human studies
• Develop proprietary products through proof-of-concept
human data (phase I or phase II)
• Maximize resources/opportunities; spread cost/risk
• Non-dilutive third party funding
• Direct: R&D grants
– $35M received since 2008
• Indirect: clinical trials sponsored by outside agencies
– Seven ongoing studies
• Partner/out-license product for preclinical/clinical
development and marketing
Page 9
10. Inovio Product Pipeline: Cancers
Pre-
Indication Product (Antigen) Phase I Phase II Partner/Funding Milestone
clinical
Cervical Dysplasia VGX-3100 (E6/E7 2H 2013
Therapeutic Type 16/18 HPV) Phase II study data
(Wilms’ tumor University of 4Q 2012
Leukemia
Cancers
gene 1) Southampton Interim Phase II data
INO-5150 1H 2013
Prostate
(PSA + PSMA) Initiate Phase I
Breast/Lung/ V934
Merck
Prostate (hTERT)
Internally Funded
Page 10
Partner Funded/Supported
11. Inovio Product Pipeline: Infectious Diseases
Pre-
Indication Product (Antigen) Phase I Phase II Partner/Funding Milestone
clinical
4Q 2012
(NS3/4A) + SOC ChronTech Phase II interim data
Hepatitis C Virus
Therapy PA CARE Grant/ 2H 2013
INO-8000
(NS3/4A, NS4B, NS5A) VGX Inter Initiate Phase I
Phase I final data
HIV Vaccine
PENNVAX-B submitted for
Trials Network
publication
HIV Preventive 1H 2013 Additional
Infectious Diseases
PENNVAX-G USMHRP/NIAID
Phase I data
1Q 2013
PENNVAX-GP NIH/NIAID
Initiate Phase I
University of 4Q 2012
HIV Therapeutic PENNVAX-B Final Phase I data
Pennsylvania
Pandemic Influenza Manuscript in
VGX-3400X preparation
-Avian (H5N1)
Universal Influenza – NIH Transformative 1Q 2013
INO-3510
Healthy Adults Research Award Add’l Phase I data
U. of Manitoba/
Universal Influenza – 1Q 2013
FVH1 Canadian Institute of
(H1N1) in Elderlies Interim Phase I data
Health Research
Internally Funded
Page 11
Partner Funded/Supported
12. 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
Page 12
13. 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 2H 2013
Page 13
14. 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 expected 4Q 2012
Page 14
15. 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 ongoing
• Interim data expected 4Q 2012
Page 15
16. 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
Page 16
17. 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
Potential to shift flu vaccination
from “one bug, one drug” approach to
pre-emptive, universal prevention across
strains, subtypes and years Page 17
18. Management
J. Joseph Kim, Ph.D., 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, Ph.D., COO Mark L. Bagarazzi, M.D., 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 18
19. Board of Directors
Avtar Dhillon, M.D., Chairman, BOD Morton Collins, Ph.D.
• Former President & CEO, Inovio • General Partner, Battelle Ventures
Biomedical and Innovations Valley Partners
Simon X. Benito J. Joseph Kim, Ph.D.
• Former Senior Vice President, Merck • President & CEO, Inovio
Vaccine Division
Angel Cabrera, Ph.D. Adel Mahmoud, Ph.D.
• 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®
Page 19
20. Scientific Advisory Board
David B. Weiner, Ph.D., Chairman, SAB
• “Father of DNA vaccines”
• Dept. of Pathology & Laboratory
Medicine, U of PA
Thomas S. Edgington, M.D. Philip Greenberg, M.D.
• 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, Ph.D. Stanley A. Plotkin, M.D.
• 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 20
21. Financial Information
Cash & short term investments1 $19.5 M
Debt1 0M
Burn rate ~$4.5 M/Q
Cash runway 3Q 2013
Listing NYSE MKT: INO
Issued & outstanding shares1 134.9 M
Recent price2 $0.63
Market cap2 $85 M
1 June 30, 2012 2 September 18, 2012
Page 21
22. Investment Summary
• Paradigm shifting synthetic vaccine platform displaying best-in-
class immunogenicity and other characteristics significantly
improving upon conventional and new competitive vaccine
technologies
• Strong management team with vast vaccine discovery &
development expertise
• Extensive third-party grant funding
• Important validating clinical milestones over next quarters
• Advancing discussions with large pharmaceutical
companies with the goal of securing new partnerships to
advance development and commercialization of SynCon®
vaccines
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