TIVC

Michael Handley highlighted that 2025 was a defining year of strategic transformation, with the company pivoting to a focused immunotherapy biopharmaceutical company anchored by the TLR5 platform. The company acquired the capability to manufacture its own therapies and made inroads with U.S. and international governments regarding solutions for radiation exposure. It discontinued the clear-of-device business and suspended non-core neuromodulation programs to concentrate resources on biotherapeutic opportunities. Focus is on the oncology supportive care market with Intolamid, which can mitigate side effects of radiation and chemotherapy. The company is aggressively moving Intolamid into large market clinical indications. Additionally, Intolument is positioned for the biodefense sector, with engagement in securing government funding. Velocity Bioworks has reduced development timelines and costs for Intolivit and serves as a key asset for government partnerships and a revenue driver for early-stage biologics manufacturing.

The company believes it is positioned to continue progress toward GMP manufacturing validation for Intolamod and ramp operations of its CDMO with the intent to bring in third-party customers over the next year. Subsequent to year-end, the company entered into a common stock purchase agreement to raise up to $50 million under certain conditions for approximately the next two years.

The company completed a strategic pivot to a focused immunotherapy biopharmaceutical company anchored by the Toll-like Receptor 5 (TLR5) platform. The lead candidates, Intolivit and its next-generation successor Intolasta, represent the future of the organization. The company discontinued the clear-of-device business and suspended non-core neuromodulation programs, concentrating 100% of resources on high-value biotherapeutic opportunities. Velocity Bioworks, a wholly owned contract development and manufacturing organization acquired in December, is a mission-critical asset for government partnerships, ensuring domestic control over the drug supply chain, and also serves as a standalone revenue driver with the potential to be a self-sustaining, cash-flow-positive operation at full utilization.

Forward-looking statements are based on current expectations and subject to risks and uncertainties that could cause actual results to differ materially. Risks include those in the biopharmaceutical development process, supply chain management, and uncertainties related to government funding and support for its programs.