1. Revolutionizing
Vaccines
Dr. J. Joseph Kim
President & CEO
NYSE MKT: INO

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, 2012, our Form 10-Q for the quarter
ended September 30, 2013 and other regulatory filings from
time to time.
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3. Inovio: Global Leader in Active Immune Therapy
2013: Dynamic Year
• Best T cell responses in published clinical studies
• Validating license deal with Roche in 2013
• $10 mm up-front, all development costs, $412.5 mm in
milestones, plus royalties
2014: Transformative Year
• Phase II efficacy data from lead drug mid-year
• More cancer trials starting (cervical, head & neck, prostate,
breast, lung)
• Additional pharma deals in the works
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4. Empowering Our Own Immune System to Defeat Disease
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5. T cells: Inovio Commands the Body’s SWAT Team
Target cell
• Key player in effective
immune therapy
• Kills tumors and
infected cells
• Are safe and tolerable
• Requires a directive
to attack
T cell
Cytotoxic T lymphocyte
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6. T cells: Inovio Commands the Body’s SWAT Team
Target cell
T cell
Cytotoxic T lymphocyte
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Provided by Dr. Philip Greenberg
Hutchinson Cancer Research Center

7. Recent PD-1 Clinical Data Validation: T cells All-Important in
Immune Therapy
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8. Passive Immune Therapy: Checkpoint Inhibitors
Passive
T cell
PD-1
PD-L1
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Cancer cell

9. Passive Immune Therapy: Checkpoint Inhibitors
T cell
Validation of Inovio’s
aggressive T cell
therapy
PD-1
Checkpoint
inhibitor
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PD-1 Therapy
PD-L1

10. Active Immune Therapy: Inovio Therapeutic Vaccines
Active
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Best-in-class T cells with powerful
killing effect

11. Active Immune Therapy: Inovio Therapeutic Vaccines
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T cells are the key to
clinical outcome

12. Inovio: Leader in Active Cancer Immunotherapies
• Efficacy can be improved by
combining with active cancer
vaccines
• Inovio cancer vaccines:
Potential to increase efficacy
• Cervical/head & neck cancers
• Breast cancer
• Lung cancer
• Pancreatic cancer
• Melanoma
• Prostate cancer
• Concerns about safety and
tolerability signals
• Potential to improve safety
and tolerability
• Projected to be a $24 billion
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market
• Major products in
multi-billion market
• Unprecedented efficacy
• Melanoma
• Lung cancer
• Others

13. Powerful Combination of Active and Passive Immune Therapy
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14. Inovio’s Technology
Inovio’s Technology
• Synthetic DNA vaccines
highly optimized for
antigen expression
• SynCon® sequences
designed to break
tolerance or provide
universal protection
Plasmids
• CELLECTRA®
electroporation ideal
delivery of DNA
vaccines
• Best-in-class immune
responses
• Favorable safety profile
Electroporation device
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• Over 400 patents

15. #1 in Generating and Driving T Cell Responses in People
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16. VGX-3100:Demonstrated Data In Class T cell Responses
VGX-3100 Phase I Study Best
• Strong T-cell response in 14 of
18 (78%) vaccinated subjects at
month 4
• 83% response rate in highest
dose group
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*Immunotherapy against HPV16/18 generates potent TH1 and cytotoxic cellular immune responses.
Sci Transl Med. 2012 Oct; 4:155ra13. dOI:10.1126/scitranslmed.3004414

17. Durable T cell Responses and T Cell Killing Effects
•
•
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9 month durability of
robust T cell response
in 12/14 responders
• 10/11 responders
showed killing effect against
target cells
Safe & well tolerated
Source: Science Translational Medicine Oct. 2012

18. PENNVAX® HIV Vaccine: Highest CD8+ T cell Responses
A: 3X vaccination without EP
B: 4X vaccination without EP
C: 2x vaccination with EP (month 2)
D: 3x vaccination with EP (month 4)
E: Memory response (month 9)
A
B
Ref: Kalams et al JID 2013
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C
D
E

19. Broad Medical and Market Opportunities
Product Name
Indication
Preclinical
Vgx-3100
Therapeutic
INO-3112
Cervical Cancer
Therapeutic
INO-3112
Head & Neck Cancer
Therapeutic
Ino-5150
Prostate cancer
Therapeutic
Ino-1400
Breast/lung cancers
Therapeutic
pennvax®
hiv
Preventive/Th
erapeutic
Ino-3510
influenza
Preventive
Ino-8000
Hepatitis C
Therapeutic
ino-1800
Hepatitis B
Therapeutic
Preventive
MaV-12
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Cervical dysplasia
malaria
Preventive
INTERNALLY FUNDED
EXTERNALLY FUNDED
Phase I
Phase II
Phase III

20. Inovio’s Lead Program
VGX-3100:
• Capitalizes on Inovio’s ability to generate T cells
• Immunotherapy for pre-cancers and cancers caused by
human papillomavirus (HPV)
• Phase II on-going: high grade cervical pre-cancers (CIN
2/3 dysplasia)
• Projected efficacy data: mid-2014
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21. Inovio’s Lead Program
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22. Inovio’s Lead Program
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23. Broad Medical and Market Opportunities
HPV product
franchise planning
• CIN 2/3 phase III
• Other HPV-related indications (cervical cancer and head/neck
cancer): initiate phase II studies
• Orphan designation potential
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24. INO-1400: Potential Universal Cancer Therapy
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Yan J et al., Cancer Immunol Res. (2013)

25. Broad Base of Support for Inovio
Almost $60M in non-dilutive funding since 2009
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26. Power of
our People
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• Management
• Board of Directors
• Scientific Advisory Board

27. Management
J.Joseph Kim, PhD
President & CEO
• Decades of biotechnology/pharma
management
• Merck: hepatitis A and B vaccines
manufacturing; HIV vaccine (Ad5) R&D
Niranjan Y. Sardesai, PhD
COO
• Extensive biotech management and product
development experience
• Led development of diagnostics for
mesothelioma, bladder cancer, and ovarian
cancer for Fujirebio Diagnostics
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Peter Kies
CFO
• Ernst & Young
• Experience with growth companies
Louis Pasteur
Mark L. Bagarazzi, MD
CMO
• Clinical research experience incl. Merck
• Led clinical/regulatory for shingles and
rotavirus vaccines; DNA vaccine expert

28. Board of Directors
Morton Collins, PhD
Avtar Dhillon, MD
• General Partner, Battelle Ventures and
Innovations Valley Partners
Chairman, BOD
• Former President & CEO,
Inovio Biomedical
J.Joseph Kim, PhD
Simon X. Benito
• Former Senior Vice President,
Merck Vaccine Division
Angel Cabrera, PhD
• President, George Mason University
• Former President, Thunderbird School of
Global Management
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Louis Pasteur
• President & CEO, Inovio
Adel Mahmoud, PhD
• Professor, Princeton University
• Former President, Merck Vaccines
• Responsible for Gardasil®, Zostavax®,
Proquad® and Rotateq®

29. Scientific Advisory Board
Philip Greenberg, MD
David B. Weiner, PhD
• Expert in T-cell immunology
• Head, Immunology Program, Fred
Hutchinson Cancer Research Center
Chairman
•“Father of DNA vaccines”
• Dept. of Pathology & Laboratory Medicine,
University of Pennsylvania
Stanley A. Plotkin, MD
Thomas S. Edgington, MD
• Founded multiple biotech companies;
extensively published
• Emeritus Professor, Scripps
Research Institute
Anthony W. Ford-Hutchinson, PhD
• Former SVP, Vaccines R&D, Merck
• Oversaw development: Singulair®, Januvia®,
Gardasil®, Zostavax®, Proquad® and Rotateq®
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Louis Pasteur
• Developed rubella and rabies vaccines
• Oversaw Sanofi flu vaccine
• Emeritus Professor, Wistar Institute &
University of Pennsylvania

30. Stock Price
2/1/13
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3/1/13
4/1/13
5/1/13
6/1/13
7/1/13
8/1/13
9/1/13
10/1/13
11/1/13 12/1/13
1/1/14
2/1/14

31. Financial Information
NYSE MKT: INO
Cash, cash equivalents
& short-term investments1
$ 46.3 M
Additional cash4
$ 11.1 M
Debt1
0M
Cash runway
1Q 2016
Issued & outstanding shares2 211.4 M
Recent price3
$2.49
$526.4 M
Market cap3
31
1Sep.
30, 2013
2Jan
31, 2014
3 Feb
3, 2014
4 Nov
12, 2013

32. Upcoming Value Drivers
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33. Upcoming Value Drivers
Vgx-3100
INO-3112
INO-3112
Ino-5150
Ino-1400
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INTERNALLY FUNDED
Cervical dysplasia
Mid-2014
Phase II study data
Cervical Cancer
1H 2014
Initiate phase I/IIa
Head & Neck Cancer
1H 2014
Initiate phase I/IIa
Prostate cancer
1H 2014
Initiate phase I/IIa
Breast/lung Cancer
EXTERNALLY FUNDED
2014
Initiate phase I/IIa

34. Upcoming Value Drivers
PennVAX
Ino-1800
MAV-12
Ino-8000
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INTERNALLY FUNDED
HIV
2014
Initiate PENNVAX -GP phase I study
Hepatitis B
2014
Prepare phase I/IIa
Malaria
2014
Initiate phase I/IIa
Hepatitis C
2015
Report phase I data
EXTERNALLY FUNDED

35. The Opportunity
Investor Highlights
• Break-through active immune therapy with the
power to save lives and maximize shareholder
value
• Targeting broad range of diseases and
billion dollar markets
• Best-in-class T cells to prevent, treat & cure
cancers and infectious diseases
• Phase II efficacy data coming
• Validating partnership with Roche with more
deals in the works
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36. Investor Contact
Investor
Contact
Bernie Hertel
Senior Director, Communications & Investor Relations
858-410-3101  bhertel@inovio.com
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