| Trimeris, Inc. | |||
| Ticker: | TRMS | 4727 University Drive, Suite 100 | |
| Exchange: | NASDAQ-National Market | Durham, NC 27707 | |
| Industry: | Service (SIC Code 8733) | (919) 419-6050 | |
| Type of Shares: | Common Shares | Filing Date: | 7/11/97 | |
| U.S. Shares: | 2,750,000 | Offer Date: | 10/6/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $12.00 - $14.00 | |
| Primary Shares: | 2,750,000 | Offer Price: | $12.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.84 | |
| Offering Amount: | $35,750,000 | Selling: | $0.49 | |
| Expenses: | $800,000 | Reallowance: | $0.10 | |
| Shares Out After: | 9,864,676 |
| Manager | Tier | Phone |
| UBS Securities Inc. | Lead Manager | (212) 821-4510 |
| Montgomery Securities | Co-manager | (415) 627-2100 |
| Issuer's Law Firm: | Wilmer, Cutler & Pickering |
| Bank's Law Firm: | Brobeck, Phleger & Harrison |
| Auditor: | KPMG Peat Marwick |
| Registrar/Transfer Agent: | Wachovia Bank of North Carolina |
Dollar amounts in U.S. millions except for per share data | |||||
| 6 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 6/30/97 | 6/30/96 | 6/30/97 | ||
| Revenue: | $0.06 | $0.21 | $0.00 | Assets: | $10.59 |
| Net Income: | -$6.97 | -$3.48 | -$3.13 | Curr Assets: | |
| EPS: | -$1.48 | -$0.59 | Liabilities: | $1.74 | |
| Prior EPS: | -$3.50 | -$2.88 | Curr Liabilities: | ||
| Cash Flow/Oper: | -$15.06 | Equity: | $8.85 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company is a biopharmaceutical company engaged in the discovery and development of novel therapeutic agents that block viral infection by inhibiting viral fusion with host cells. The company's lead product candidate, T-20, inhibits fusion of the Human Immunodeficiency Virus-1 (HIV) with host cells. T-20 is currently being tested in a Phase I/II clinical trial in HIV-infected patients in the United States. T-20 and the company's other product candidates are designed to inhibit viral fusion, unlike other currently approved therapeutic agents that target replicating viruses inside infected cells. The company has developed a proprietary technology platform in the field of fusion inhibition which is being applied to the discovery and development of novel products for the treatment of a variety of viarl diseases. |
| Competition |
| The company is engaged in segments of the biopharmaceutical industry including the treatment of HIV, that are intensely competitive and rapidly changing. If successfully developed and approved, the product candidates and compounds that the company is currently developing will compete with numerous existing therapies. For example, 11 drugs are currently approved for the treatment of HIV. In addition, a number of companies are pursuing the development of novel pharmaceutical products that target the same diseases that the company is targeting, and some companies, including several multinational pharmaceutical companies, are simultaneously marketing several different drugs and may therefore be able to markettheir own combination drug therapies. The company believes that a significant number of drugs are currently under development and will become available in the future for the treatment of HIV. Although the company believes that there is a significant future market for therapeutics that treat HIV and other viral diseases, the company anticipates that it will face intesne and increasing competition in the future as new products enter the market and advanced technologies become available. There can be no assurance that exiting products or new products for the treatment of HIV developed by the company's competitors, including Glaxo, Merck and Abbott, will not be more effective or more effectively marketed and sold, than T-20, should it be successfully developed and receive regulatory approval, or any other therapeutic for HIV that may be developed by the company. |
| Business Plan |
| The company's goal is to become a leader in anti-fusion viral therapy. To achieve this objective, the principal elements of the company's strategy are to: (I) Validate Fusion Inhibition Therapy By Obtaining Regulatory, (ii) Leverage Anti-Fusion Expertise To Develop Other Antiviral Therapies and (iii) Tailor Commercialization Capabilities To Specific Product Markets. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund increased research and development activities, to fund expansion of facilities, to provide working capital and to fund other general corporate purposes. |
| Name of Shareholder | % Owned Before | % Owned After |
| Jesse I. Treu | 35.00% | 26.10% |
| DP III Associates, L.P. | 35.00% | 26.10% |
| Domain Partners III, L.P. | 35.00% | 26.10% |
| Domain Partners II, L.P. | 35.00% | 26.10% |
| Biotechnology Investments Limited | 17.60% | 13.10% |
| Sentron Medical, Inc. | 5.30% | 4.00% |
| Officer Name | Title | Age |
| Jesse I. Treu, Ph.D. | Chairman of the Board of Directors | 50 |
| Matthew A. Megaro | Chief Operating Officer, Chief Financial Officer, Executive Vice President and Secretary | 39 |
| Michael A. Recny, Ph.D. | Director of Business Development | 41 |
| M.C. Kang, Ph.D. | Director of Chemisty | 45 |
| Timothy J. Creech | Director of Finance | 36 |
| M. Ross Johnson, Ph.D. | President, Chief Executive Officer, Chief Scientific Officer and Director | 52 |
| Dennis M. Lambert, Ph.D. | Vice President of Biological and Molecular Sciences | 50 |
| Samuel Hopkins, Ph.D. | Vice President of Medical Affairs | 38 |