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ImmunoCellular Therapeutics Industry-leading, next-generation, cancer immunotherapy November 2012

Disclaimer This presentation contains certain “forward-looking statements” (statements as to matters other than historical facts) as defined in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual events or results to differ materially from the events and include statements about our plans, objectives, expectations and intentions with respect to the potential for success of our scientific approach to cancer immunotherapy, clinical development efforts, operations, financial condition and other statements that are not historical in nature, particularly those that use terms such as “will,” “potential”, “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “projects,” “estimates” or similar language. Important factors known to us that could cause actual results to differ materially from those expressed in such forward-looking statements include those set forth in our most recent annual report on Form 10-K, quarterly reports on Form 10-Q and other reports filed with the SEC. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. The information in this presentation speaks only as of the date hereof, and except as required by law, we disclaim any obligation to update or revise any forwardlooking statement.

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Disruptive Validated Technology Cancer Stem Cell Targeting +

Potent Immunotherapy

= Effective Cancer Eradication 3

Why Cancer Vaccines Previously Failed? Problem

Solution

• Late-stage disease

• Minimal residual disease

• Immune compromised patients

• Immune competent patients at diagnosis • Dendritic cells with persistent Tcell immune response

• Weak immune response

• Tumor mutation/escape • Flawed trial endpoints • Targeted tumor bulk

• Target multiple antigens • Overall survival endpoint • Target cancer stem cells

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Without killing CSCs, it is like spraying for weeds without killing the roots. The weeds (tumors) come back.

Immunotherapy Has Advantages in Targeting Cancer Stem Cells Immunotherapy can elicit T-cell mediated rejection of tumors • T cells are the way the body kills cancer cells • Improves specificity • Targets intracellular & surface antigens • Better safety profile • Differentiates between CSCs and normal stem cells Antibodies only target CSC antigens on the surface of cancer cells

Cytotoxic T-cells target CSC antigens cancer presented by MHCs MHC

Antibody Antigen

Antigen Cancer cell

Cytotoxic T-cell Cancer cell 6

Product Pipeline Overview Multiple therapies in different cancer indications Active immunotherapies  ICT-107 ̶ Dendritic cell vaccine targeting glioblastoma antigens and CSCs ̶ Phase I trial showed compelling clinical outcomes ̶ Phase II study results anticipated late 2013  ICT-140 ̶ Dendritic cell vaccine targeting ovarian cancer antigens and CSCs ̶ IND filing Q4/2012  ICT-121 ̶ Dendritic cell vaccine targeting CD133 (CSC marker) ̶ IND approved; plan enrollment Q4/2012

Antibody immunotherapies  Licensed to Caerus Molecular Discovery, funded by BioWa

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ICT-107 Preparation & Manufacturing Multiple doses from only one apheresis procedure GMP Manufacturing Facility Ship overnight

Apheresis

Apheresis product

Patient



Culture with cytokines

Peripheral blood mononuclear cells

Activated dendritic cells Pulse w/ tumorassociated antigens

 Intradermal injection

Ship back to physician ICT-107

Aliquot & freeze ~30 doses

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ICT-107

ICT-107 targets both tumor cells and CSCs

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AIM2

TRP-2









CDX-110 (Celldex)

Tumor Lys

HER2/neu



HSP Ags

IL-13Rα2



EGFRvIII

MAGE-1

ICT-107 (IMUC)

gp100

ICT-107 Targets Antigens Overexpressed on Glioblastoma Cancer Stem Cells



DC Vax (Northwest Bio)



Prophage (Agenus)



ICT-107 targets six tumor antigens (nine amino acid epitopes that elicit an immune response in HLA-A1/A2 patients) 10

Pt # Pt ID 1630 1636 1639 1640 1597 1587 1544 1576 1577 1551 1552 1562 1564 1540 1542 1519 1522 1523 1525 1412 1466 2 1526 5 1351 6 1431 7 1508 8 1468 9 1498 11 1539 12 1561 13 1550 14 1547 15 1594 16 1560 17 1578 18 1585 19 1614

AIM ++ +++ ++ +++ ++++ ++ ++ + ++ +++ ++ ++++ ++ ++ +++ ++++ +++++ ++++ +++ +++ ++ ++++ +++ ++++ +++++ ++++ + +++ ++ ++ ++++ ++ +++ +++ ++ +

gp100 ++ + + ++ ++ wk ++ wk + + wk + wk + ++ wk + + wk + + + + + neg ++ ++ + wk ++ neg + neg wk ++ +

MAGE wk wk wk wk + wk wk neg wk + wk + wk +++ wk ++ + + wk + wk + wk + + neg wk wk wk neg + wk wk wk wk wk

TRP-2 +++ +++ +++ +++ +++ ++ ++ ++ ++ +++ ++ +++ ++ +++ ++ ++ ++++ +++ ++ ++++ +++ ++ +++ +++ ++ ++++ ++ ++ +++ +++ ++ ++ neg ++ +++ ++

Her-2 ++++ +++ +++ ++++ ++++ ++ +++ +++ ++ +++ +++ +++ +++ +++ +++ +++ ++++ +++ ++++ ++++ ++++ +++ +++ ++++ ++++ neg ++++ +++ +++ ++++ +++ +++ +++ ++ ++++ +++

IL-13R ++++ ++++ ++++ neg +++++ ++++ ++ ++ ++ ++ ++ ++ +++ ++++ ++++ + ++++ ++++ ++++ +++++ +++ ++ ++++ +++++ ++++ +++++ ++++ + +++ ++++ ++++ +++ neg ++ ++++ ++++

wk + ++ +++ ++++ +++++

1E5 >1E4 >1E3 >1E2 >1E1

Expression of Tumor Antigens in GBM by RT-PCR All GBM patients express three or more antigens 75% expressed all six

Patients from ICT-107 Phase I clinical trial

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Phase I Trial with ICT-107 Nonrandomized, single-center study at Cedars-Sinai  19 GBM patients  16 newly diagnosed, 3 recurrent  ~75% fully resected

Patients received standard of care (surgery and chemo-radiation) followed by three vaccinations of ICT-107 every two weeks. 12

Pre- and Post-Operative MRI Scans of Four GBM Patients on ICT-107

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ICT-107 Phase I Results Newly diagnosed GBM patients (efficacy and safety) RT/Chemo Historical

Vaccine

Fully-resected

Progressive disease

= Death

ICT-107

B-06 B-04 B-07 B-10 B-14 B-15 B-19 B-20

B-13 B-18

Six patients without recurrence for over 4 years (3 of them over 5 years)

B-16 B-02 B-11

No Grade 3 or 4 toxicities. Adverse events (Grade 1 or 2) include diarrhea, fatigue, flushing, pruritis, rash, vomiting

B-12 B-09 B-17 0

10

20

30

40

50

Months from Surgery

Stupp et al. N Engl J Med. 2005 Mar 10;352(10):987-96 & Stupp et al. Lancet Oncol. 2009 May;10(5):459-66.

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60

70

ICT-107 Improves Survival in GBM Progression Free Survival (PFS)

Overall Survival (OS)

ICT-107 ICT-107 Historical standard of care

Historical standard of care

Significant increase in median PFS  16.9 months for ICT-107  6.9 months for historical SoC*

Significant increase in median OS  38.4 months for ICT-107  14.6 months for historical SoC*

*Surgery followed by radiation and temozolomide (TMZ). Stupp et al. N Engl J Med. 2005 Mar 10;352(10):987-96.

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Correlation of PFS and OS with Antigen Expression

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CD133 Expression (CSC Biomarker) Primary & recurrent tumor samples from the same patient Chemotherapy

ICT-107

6.6 5.3 3.5

After2 12.3

7.6

2.1

2.5 0.6

A

After

12.3

19.1

CD133 Expression

Relative Increase in CD133 Expression

Before

B

C

D

E

F

Patient

0.2

1.4 0

0

0 0

G

H

I

Patient

Phuphanich et al. Cancer Immunol Immunother. 2012 Jul 31.

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J

ICT-107 Phase II Trial Design Randomized, placebo-controlled, double-blind trial

2:1 randomization

ICT-107 + TMZ Newly Diagnosed GBM Patients (n=123)

Surgery

Placebo Unloaded DCs + TMZ

Apheresis

• 123 patients treated at 25 centers  HLA-A1/A2 50-75% of US population • 278 patients enrolled • Primary endpoint: OS • Secondary endpoints:  PFS  OS/PFS at various time intervals  Immune response (T-cells)  Safety • Interim analysis (based on 50% events) in Q1/2013 • Final results in 2H2013 • Derisked by improving DC function, timing, frequency Vaccinations

Radiation TMZ 7 weeks

6 weeks

4 weeks

18

4 weeks

4 weeks

4 weeks

4 weeks

ICT-107 Phase II Trial Enrollment 25 clinical trial sites – 278 patients enrolled 300

250

200

150

100

50

Planned 19

Actual

AUG

JUL

JUN

MAY

APR

MAR

FEB

JAN

DEC

NOV

OCT

SEP

AUG

JUL

JUN

MAY

APR

MAR

FEB

0

JAN

Johns Hopkins University New York University University of Texas at Houston Northwestern University Arizona Cancer Center New Jersey Neuroscience Institute UC San Diego Moffitt Cancer Center Penn State University of Pennsylvania University of Virginia Wake Forest Cornell Presbyterian Massachusetts General Kentuckiana Cancer Institute Cedars-Sinai Medical Center University Hospital Case Medical Center Rush University Overlook Hospital Baylor University Cleveland Clinic University of Alabama Thomas Jefferson Long Island Brain Center

FDA Approvals Newly Diagnosed GBM Gliadel  Approval in 2003  Double-blind, placebo-controlled, randomized Phase III trial showing 13.8 vs. 11.6 month survival

Temozolomide  Approval in 2005  Double-blind, placebo-controlled, randomized Phase III trial showing 14.6 vs. 12.1 month survival

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Projected Costs: ICT-107 vs. Provenge Lower cost of goods, better logistics ICT-107

Provenge

60%-90%

15%-20%

Interleukin-12

Yes

No

Target antigens

Six

One

Doses/apheresis

~30

1

Liquid nitrogen

N/A

Administration

Intradermal injection

IV infusion

Cost of Goods

5%-10%

70%

% DCs/APC

Storage

Source: Quarterly earnings transcripts and public filings.

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Other Immunotherapy Candidates

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ICT-140: Ovarian Cancer Vaccine Ovarian cancer is similar to GBM  Minimal residual disease after surgery  Immuno-responsive

Dendritic cell vaccine targeting CSCs  Seven antigens over-expressed in ovarian cancer, including three antigens used in ICT-107 ̶ HER2/neu, IL-13Rα2, MAGE1, mesothelin, EphA2, & two more antigens  File IND by Q4/2012

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ICT-121: CSC-targeted Universal Vaccine • Dendritic cell vaccine loaded with two CD133 peptides • CD133 is highly expressed on CSCs • CD133 is expressed on most solid tumors, including brain, colon, non-small cell lung, melanoma, pancreatic, and breast cancer • Initial indication in recurrent GBM • PI-sponsored Phase I trial at Cedars-Sinai Medical Center  20 patients  IND approved; plan enrollment Q4/2012

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Inverse Correlation between CD133 Expression with Survival on Gliomas

CD133 expression correlates inversely with grade II to IV glioma patient survival time. The survival time calculated from the day of operation was plotted against the percentage of CD133+ cells in the CD45-cell fraction from the specimens of each patient. UD: undetectable CD133 expression. Bold black bars indicate the median survival time for patients in groups with CD133+ cells either lower or higher than 30% of total CD45-cells.

Source: Rebetz et al. PLoS ONE. 2008.

Strong IP Position 28+ patents and patent applications  10 patents issued or allowed  18+ patents pending

Vaccine patents and applications include     

Method of use for six antigen vaccine (ICT-107) Manufacturing process for production of ICT-107 Use of dendritic cells with chemotherapy for neural cancers Immunotherapy targeting IL-13Rα2 Immunotherapy targeting CD133

Issued patents on monoclonal antibodies cover composition of matter, therapeutic treatments and diagnostics 26

Experienced Management Team John Yu, MD, Chairman & CSO, Interim CEO  Neurosurgeon at Cedars-Sinai, Mass General Hospital, Harvard Medical School

Elma Hawkins, PhD, Head of Clinical Development  Antigenics, Genzyme, Warner Lambert/Parke Davis

Jim Bender, PhD, MPH, VP of Manufacturing & Product Development  IDM Pharma, Baxter Healthcare

David Fractor, CPA, CFO  HemaCare, Andwin, Deloitte & Touche

Peter Ho, PhD, Director of Business Development  Grey Healthcare Group, Prudential Equity Group, Allergan, D.E. Shaw

Experience in developing over 20 products in cell & gene therapy and vaccines

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Product Pipeline 2011 Q1

Q2

2012

Q3

Q4

ICT-107 New GBM

Q1

Q2

2013

Q3

Q4

Q1

Q2

Q4

Q1

Preclinical

Final results Phase I/II trial

IND ICT-121 Recurrent GBM

Q2

Phase II trial Interim analysis

ICT-140 Ovarian

Q3

2014

Preclinical

Phase I trial

IND

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Q3

Q4

Recent & Upcoming Milestones May 2012

NYSE MKT listing July 2012

ICT-121 IND October 2013

October 2012

SITC abstract

SITC abstract December 2012

Q3 2013

ICT-121 Ph 1

ICT-140 Ph 1/2

Q1 2013

2H 2013

ICT-107 Ph 2 final

June 2013

November 2013

ASCO abstract

SNO abstract

ICT-107 Ph 2 interim ICT-140 IND November 2012

SNO abstract August 2012

ICT-107 Ph 2 enrollment

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Strong Financial Position & Capitalization Cash (as of 9/30/2012) $10 million (A) Burn rate $3 million per quarter Outstanding debt None Shares outstanding (as of 41.1 million (A) 9/30/12)

Market capitalization $98 million (as of 11/6/2012) Warrants outstanding (as 8.9 million (A) of 9/30/12) 10.4 million (average weighted Options outstanding exercise price of $1.15) (A) In October 2012, we raised $19.3 million from the issuance of 10 million shares of common stock and 4.5 million warrants. 30

ImmunoCellular Therapeutics Industry-leading, next-generation, cancer immunotherapy November 2012