ImmunoCount (IC)

March 2009

Confidential please do not distribute without prior permission.

Highlights

Suffering Gap Innovation Leadership Revenue Company

33 million People are Living With HIV/AIDS (PLWHA)

Lack of low cost, simplified CD4/CD8 testing solutions

IC is filling the gap and has been approved by the Indian Central Drugs Control Administration (CDSCO) (FDA equivalent).

4 more products are ready for CDSCO approval and patent process.

Strong management team with relevant healthcare , research and business experience.

Purchase approved in India and Zambia.

Founded in 1997 with focus on developing simplified tests for underserved markets

Background
Estimated 33 million PLWH and 8 million with AIDS PLWHA should be tested 2 to 3 times = minimum 66 million tests annually 70% of 33 million PLWHA are in developing countries 70% of PLWHA in developing countries are not properly tested, ICs market Only 31% of people who needed HIV treatment had access to it by end-2007. Once the CD4 count reaches below 200, Antiretroviral Therapy (ART) for PLWHA is paid by the UN This is a major motivation for PLWHA to be tested regularly

Source (WHO)

IC Solution
IC test measure CD4/CD8 cell count for PLWHA to monitor the

progression of the disease

IC is a low cost solution and easy to use product geared towards serving

rural areas in the developing world

IC is approved by CDSCO and has a patent CDSCO approval permits IC to market in Africa and Asia

Solving the pain

Flow Cytometer Capital expense Benefit $50,000+

ImmunoCount

IC advantage

$400 Only a microscope needed $10 Price competitive

Selling price/test $15 to $25

Suitable for Ideal for peri-urban Portable and able to urban area with high & rural areas with reach the masses testing volume low testing volume High skilled technician required to operate the machine High Sterile High Low skilled technician to needed to manage the process Low Clean Low Less training required

Process

Technician skill Environment Maintenance

Readily available

Universal Access 2010

Funding Sources:

World Bank, WHO, Global AIDS Fund, Gates Foundation, Clinton Foundation, and many others

At the end of 2007, the gap between required and available funding was

estimated to be US$ 8.1 billion. To meet universal access targets, funding will have to more than quadruple to US$ 35 billion in 2010 and to US$ 41 billion in 2015. (Source: WHO)
Simplified and low cost solutions, such as ImmunoCount will be needed

to serve the masses and reach the rural areas

Product Testing & Validation

India:

Third party has successfully evaluated and approved IC tests for India NACO has authorized purchase of 100,000 tests

Zambia:

University of Lusaka Teaching Hospital (UTH) has evaluated and approved the product to the Ministry of Health Zambia team has introduced the product and received positive response from Congo, Mozambique, and Angola Following is the conclusion from UTH report: The IC is the best new technology for peri-urban and rural areas of Zambia with low cost.

South Africa:

Nelson R. Mandela School of Medicine has approved the field evaluation process

Management

Dr. Subhash Hira

Founder & Chairman

Dr. Hira has been involved in HIV/AIDS field since 1980

with primary focus on Africa and Asia. Dr. Hira is the World Bank Program Leader for HIV/AIDS in India.

Harish Mamtani
President & CEO

Investment management background. Actively invests in

public and private markets.

Rajni Shivani, PhD

Technical Director

Responsible for QA and managing the production

process.

Dr. Vishwas Sarangdhar

Biotechnology Consultant

Has played an active role in new technology and product

development. Previously worked with Reliance Life Sciences .

Post Funding Next 12 Months

$2 million funding allows IC to achieve the following tasks 3 months:

Secure real estate for R&D lab and manufacturing facilities in India Close contract with India or Zambia for 200,000 IC tests

6 months:

Begin delivering product to NACO, Zambia, and others in phases over the next 6 months. Close contract for additional 200,000 tests Apply for WHO pre-qualification so third party evaluation is not required at each country level Complete development of rapid CD4 test kit (new technology) Submit 4 products for CDSCO approval (6 month process)

9 months:

Complete product development for 4 more R&D products for a total of 9 products

12 months:

Have infrastructure in place to penetrate top 10 markets Complete facilities to meet the higher production needs

Product Pipeline

Stage

Patent

CDSCO Approval
Yes

Launch

Produce

Granted (India)

IC
Projected 6 months post funding Projected 6 months post funding Projected 6 months post funding Projected 6 months post funding

6 months post funding

Viral Load HIV I

Clinical trial

Apply Post funding

18 months post patent application 18 months post patent application 18 months post patent application 18 months post patent application

Viral Load HIV II

Clinical trial

Apply Post funding

TB (PCR)

Clinical trial

Apply Post funding

TB (MODS)

Clinical trial

Apply Post funding

Applying core competencies to develop simplified testing solutions

Opportunity
Significant market

The burden of infectious diseases is high in developing countries. Low financial and technical resources to meet the widespread need in rural areas

Relationships

The Companys founders and directors are well-known to product buyers in Africa, Asia, and Latin America

Practical solution

The lack of cost effective competitive products is an advantage Current products offerings require high technical talent and are expensive to reach the rural areas in developing world

Market need

The company is well positioned to fulfill the desperate market need with proper attention and focus Desperate need by world agencies for low cost solutions

Appendix

Management

Dr. Subhash Hira is a medical doctor who specialized in Infectious Diseases and Public Health from Baroda, UK and the US. He has had a distinguished career of 30 years during which he has held senior positions with the Zambian Ministry of Health, Uniformed Services University, Bethesda; the University of Texas-Houston; The World Bank, Washington DC; The World Health Organization; and UNICEF among a host of UN and multi-lateral agencies. Dr. Hira has the cross-cultural experience of living and working in challenging environments. For most of his career he has been involved with HIV/AIDS, tuberculosis and other Infectious Diseases and has several firsts to his credit, from published evidence in 1982 that HIV was heterosexually transmitted among Africans, to starting ART in India in 1996. He has over 100 scientific publications in international journal and has contributed chapters in international medical text books. Presently, Dr. Hira is consulting with the World Bank and the Global Fund on health programs.

Management

Mr. Harish Mamtani is the Managing Director of Bluefish Capital, LLC. Mr. Mamtani launched the firm in July 2005 to offer independent and objective advice to family offices and high net worth clients on their global portfolios. In his role, Mr. Mamtani created diversified portfolios comprising of liquid instruments, hedge funds (direct and fund of funds), global private equity, and real estate. In addition, Mr. Mamtani managed direct investments for his clients in the technology, healthcare, and real estate sectors. In January 2009, Mr. Mamtani joined IC as its CEO. Prior to Bluefish Capital, LLC, Mr. Mamtani co-managed a team at Bank of America Private Bank where they advised bank clients on investments. Mr. Mamtanis team managed $960 million for banks clients. Mr. Mamtani began his career in wealth management in 1998 with Merrill Lynch and subsequently his entire team moved to Morgan Stanley. Mr. Mamtani began his professional career with Price Waterhouse as a Management Consultant. Mr. Mamtani worked with sophisticated software packages such as SAP, PeopleSoft, and Oracle in fields of EDI, Finance, and Human Resources. Mr. Mamtani has a BA in Accounting and Master of International Business Studies (MIBS) from the University of South Carolina. Mr. Mamtani served as 2007 President for TiE Atlanta and has been a Charter Member since 2005. From 2002 to 2006, Mr. Mamtani was the President of the Atlanta High Tech CEO Council in Atlanta, GA.

Adults and Children living with HIV worldwide

Market Conditions
June 2005

Between 2001 and 2005, the number of people on antiretroviral therapy (ART) in low and middle-income countries increased more than fivefold From 240,000 to approximately 1.3 million (Figure 7.1 next page) 21 countries were providing ART to 50% of those in clinical need (WHO and UNAIDS, 2005) In Africa, the number of people on ART more than doubled in 2005 alone Only one in six people who needed treatment received ART by December 2005 Nearly 200 sites in Kenya were providing ART by December 2005 In South Africathe country with the largest population of people living with HIVthe number of people receiving ART grew from fewer than 5,000 at the beginning of 2004 to roughly 190,000 by the end of 2005 There are approximately 3 million people on ART

2007

PLWHA receiving therapy

Global Funding
Financing AIDS globally

Resource requirements in 2007 are estimated to be US$ 18.1 billion, while resources expected to be available for the same year are estimated at US$ 10 billion. This highlights the need for cost effective offerings.

Product Pipeline
TB Monitoring product

2 TB products

TB PCR TB MODS

Patent application to begin in upon funding CDSCO approval submission to begin upon funding

Tuberculosis

There are 9 million new cases of TB each year. One-third of new TB cases occur in Southeast Asia Estimated incidence per capita is highest in sub-Saharan Africa Highest number of estimated deaths due to TB and the highest mortality per capita are in Africa, where HIV has led to rapid increases in TB incidence.

Source: World Health Organization (WHO).

Immediate Target Market

South Africa India Mozambique Zimbabwe Tanzania Kenya Zambia Uganda Congo Countries marked in blue represent IC activity Countries marked in red represent target market

Country South Africa India Mozambique Zimbabwe Tanzania Kenya Zambia Uganda Congo Russian Ethiopia Cte d`Ivoire China Brazil Thailand Cameroon Myanmar Angola Ghana Vietnam Central African Republic Namibia Swaziland Rwanda Haiti Mexico Cambodia Total

HIV Cases 5,500,000 2,500,000 1,800,000 1,700,000 1,400,000 1,300,000 1,100,000 1,000,000 1,000,000 940,000 750,000 750,000 650,000 620,000 580,000 510,000 360,000 320,000 320,000 260,000 250,000 230,000 220,000 190,000 190,000 180,000 130,000 24,750,000

Process

Use of Proceeds
IC will be launched with $2 million funding and will seek to fund other

product initiatives from internal cash flow and grants.

$5 million is required for fully funded plan for all current and future

products (needs subject to change depending on final relationships established for outsourcing)

$1,000,000 to establish new facilities in India $1,000,000 to complete the is patent and CDSCO approval process for 4 products that have been clinically tested $1,000,000 R&D for new products $1,000,000 to launch sales and marketing initiatives $1,000,000 working capital