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From: donpat3/25/2006 7:18:31 AM
   of 12865
Bristol-Myers Squibb



Title : I am looking for startup capital for a spinoff drug delivery technology company

From : Anil Diwan

Message : Hi guys,
Here is a business oriented recap of TheraCour, a drug delivery technology I have been working on for the past 10 years. This is the first time I am looking for Angel Investor and VC funds. So far, I have driven the ventures solely on direct sales and income from business! Please help. You can email me at adiwan@iitbombay(.)org.

TheraCour Pharma will be a spinoff from AllExcel, Inc., West Haven, CT (near New Haven, Yale U) where the Specialty Drug Delivery Vehicles, trademarked TheraCour have been developed over the last 10 years, and are now ready for commercialization.

TheraCour is an advanced drug delivery technology that helps solve all three major challenges of drug delivery: Solubility, Permeability, and Targeting

TheraCour Pharma has a 3-Tier Revenue Model, with revenue generation starting as early as 2nd year, and net positive cash flow as early as 5th year. [Research Market Sales, Licensing Fees, and Commercial Royalties are the three tiers]. Research Market Sales do not have FDA registration needs.

Investment Needs:
Currently, we need about $2MM in the first year to solidify IP position and solidify some of the nascent PharmaCo partnerships.

A total investment outlay of $25MM will be needed to reach the planned controlled growth with a highly conservative estimated net income of about $25MM p.a. in Year 6, which will double in Year 7, and grow at 20-30% p.a. for another 3 years to a stable plateau. There is opportunity to use the income to develop our own drugs and take the company to multibillion dollar valuation.

An ambitious growth plan that reaches net positive cash flow in 4th year and at higher revenues is possible with a investment of about $40MM.

Clear Milestones that are achievable and can be traced for investment inflows have been developed.

Product Positioning:
The specialty drug delivery marketplace addressed by TheraCour is worth about $10 billion (injectable excipients, liposome technologies, and airway delivery). There are only a handful of players (only 5 significant players) in there, and we have technological edge over all existing players, as well as potential in-comers. The most successful business, Alza, based on liposome technologies, had sales of leading drug Doxil at about $1billion, and was purchased by J&J for $10billion. This is the potential we can reach and probably even go beyond, in ten years.

Barriers for Competition: Our entry into the market will be a great barrier for new companies to surpass since
1. we solve all three major drug delivery challenges, and since
2. commercial usages requires developing expensive FDA registered ToxPackage data and Drug Master Files.
3. We have significant cost and performance advantages over liposome technologies.

IP Proprietary, Patentable, Leading Edge Technologies
The new TheraCour technologies to be commercialized are currently fully proprietary and have international patentability. We have one patent issued on our older technologies, indicative of our leadership position.

Market Need is Addressed

We already have interest from several Pharmaceutical Companies in TheraCour technologies. We are in the process of reaching a Material transfer Agreement with Bristol-Myers-Squibb shortly, for BMS to evaluate TheraCour drug delivery vehicles in a solubility pre-pilot. Our corresponding internal pre-pilot is successful.

Choice of a drug delivery vehicle by a PharmaCo is based purely on performance and cost metrics. We have an edge in both of these (technical details need to be discussed here).

We have a strong Management Team, consisting of Board Members Mr. Harry H. Penner , Jr. (seasoned PharmaCo executive and dignitary, Legal Counsel), Dr. Vivek S. Kavadi (Oncologist, Chair, Cancer Srevices Center of US Oncology; Harvard MD, Rice BA), Mr. Rana Tewari (International Finance Expert), and CEO Anil R. Diwan ( inventor of TheraCour and several other technologies, successfully managed two businesses and navigated through tough times with an eye on thrift, cost consciousness, high productivity metrics and balanced books; Rice Ph.D., IITBombay B.Tech.), COO/Business Development Mr. Joe Kaufman (formerly VP, Informatics at Agilix, Inc., inventor of two Agilix patents), CTO Jayant Tatake (experienced in GMP Production of Pharmaceutical Intermediates, Synthesis and Process Scaleup, UDCT Bombay PhD). All of our exceutives and management team members have 15 to 26 years of experience in the specialty pharmaceuticals related businesses.

We are now preparing scaled presentations for different audiences and with extensive visual impact. We are also refining the story-telling.

Nitin D, Ram K: This is the great thing I had said I was working on in the few years ago's note.

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