Epimmune and IDM SA complete merger

The combined company has approximately 13.2 million shares issued and outstanding, and based on a $6.30 share price as of August 15, 2005 has a market capitalization of approximately $83 million.

Dr Romet-Lemonne, IDM SA’s chairman and chief executive officer, will chair the new nine-member board of directors of IDM, which includes three members from each of the former boards of each company, as well as three new independent board members.

Commenting on the completion of the business combination, Dr Romet-Lemonne said, “In combining IDM’s delivery and production expertise with Epimmune’s epitope target identification capabilities, we believe we have greatly improved the opportunities for success of our technology and more importantly, expanded the prospects for the many patients who could benefit from our combined expertise.”

IDM will focus on seven product candidates in clinical development for cancer and infectious disease indications. The company’s lead product candidate, Junovan (formerly Mepact), has completed a phase III clinical trial in the US for the treatment of osteosarcoma.

Junovan has received orphan drug status in both the US and EU, and the company is working with US and EU regulatory agencies regarding the appropriate pathway for product marketing approval. The company expects to receive regulatory approval for Junovan in the US and EU in 2007.

The company’s most advanced clinical product candidates, other than Junovan, are being developed to address large cancer markets, including bladder, colorectal and non-small cell lung cancer and melanoma. The company has strategic partnerships with Sanofi-Aventis, Medarex and Innogenetics.