EFTA02397672.pdf

From: Sent: To: Cc: Subject: Attachments: Dear Jeffrey, Paul Finnegan Wednesda , Se. em er , : Jeffrey Port Angiocrine Bioscience "numbers". requested Angiocrine - Capitalization Table (2015.7.10) Summary v150901.pdt Angiocrine Comp Analysis Trout Capital LLC-Angiocrine_v150818 0634 PFCGD FINAL.xlsx; Angiocrine Bioscience Inc 3.25 year Forecast_$5M+$25M v150902 0625.xlsx Attached are the 3 deliverables you requested when w= met you at your residence in NYC earlier this summer: (1) Cap Table Summary (updated since our meeting)<=o:p> (2) Comparator Table to support assumed valuation for 5=ries B institutional a. Summary tab are the assumptions we discussed during=our meeting b. 2nd and 3rd tabs provide data=of comparator companies (pre-money Series B, IPO if applicable) for the as=umptions (3) 3 year P&L (financial projection for cumulative=$30M raised over the next 2 upcoming quarters) a. Spend is geared to a potential $5M from high-net-wo=th individuals investment by Nov 1st 2015 b. Another assumption is availability of the first tra=che from $25M Series B institutional round by Apr 1st 2016=/o:p> c. As you suggested, we continue to believe that $30M =ver 3.25years provides adequate funds to reach an inflection/exit point an= still have "dry power" for contingencies and for the negotiat=on period if and at the time we achieve positive human clinical proof of concept I am also sending the email & attachments to Les=ey in case you prefer she prints out the attached for you or to another em=il address you prefer. Since we met, we have made progress on: (1) refining=manufacturing; (2) clinical trial details; (3) preparation for institution=l investor due diligence; and (4) begun presenting to institutional invest=rs (full swing after Labor Day). Please do not hesitate to contact me if you have any=questions. EFTA_R1_01431013 EFTA02397672 Best regards, Paul Paul W. Finnegan, MD, MBA<=pan style="font-size:9.0ptfont-family:"Arial",sans-seritcolo=1222222"> Chief Executive Officer Angiocrine Bioscience, Inc.4=pan> 3570 Carmel Mountain Rd, Suite 200,=/o:p> San Diego, CA 92130 Angiocrine Bioscience Research Weill Cornell Medical College, Medical R=search Building A-335 1300 York Avenue, New York, NY 10065 2 EFTA_R1_01431014 EFTA02397673