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Phylagen 3 Clinical Precision Medicine Vik Chandra - PowerPoint PPT Presentation

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Q2 2016 S HAREHOLDER U PDATE C ALL FIRST. TRANSFORMATIVE. PROVEN. T RANSFORMING THE F UTURE NASDAQ : TINY 1 S AFE H ARBOR S TATEMENT This presentation may contain statements of a forward-looking nature relating to future events. Statements

  1. Q2 2016 S HAREHOLDER U PDATE C ALL FIRST. TRANSFORMATIVE. PROVEN. T RANSFORMING THE F UTURE NASDAQ : TINY 1

  2. S AFE H ARBOR S TATEMENT This presentation may contain statements of a forward-looking nature relating to future events. Statements contained in this presentation that are forward-looking statements are intended to be made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. These statements reflect the Company’s current beliefs, and a number of important factors could cause actual results to differ materially from those expressed herein. Please see the Company’s Annual Report on Form 10-K, as well as subsequent filings, filed with the Securities and Exchange Commission for a more detailed discussion of the risks and uncertainties associated with the Company’s business, including but not limited to the risks and uncertainties associated with venture capital investing and other significant factors that could affect the Company’s actual results. Except as otherwise required by Federal securities laws, Harris & Harris Group, Inc. undertakes no obligation to update or revise these forward-looking statements to reflect new events or uncertainties. In response to investor requests, we have invited executives from one of our portfolio companies, Muses Labs, to provide a brief overview of their company at the conclusion of today's call. Please note that any opinions or views expressed by the management of Muses Labs are strictly their own, and do not necessarily reflect the opinions or views of Harris & Harris Group. Similarly, Muses Labs and its management are solely responsible for the content of their presentation, including any statements they may make or any statistics or financial information they may provide, and Harris & Harris Group expressly disclaims any responsibility for the contents of such presentation. 2

  3. W E A RE C URRENTLY B UILDING C OMPANIES W HICH A RE G OING TO T RANSFORM THE D ELIVERY OF H EALTHCARE Phylagen 3

  4. Clinical Precision Medicine Vik Chandra vc@museslabs.com 9660 Falls of Neuse Road CEO Suite 138-334 Raleigh, NC 27615 www.museslabs.com Muses Labs, Inc. -- CONFIDENTIAL

  5. Precision Medicine is currently impractical in the clinic Too much information, not enough time 700,000 600,000+ new research papers Gene pairs sequenced for every ry yea ear $199 $199 Entire patient medical history in Electronic Health Records 1000s of possible medical tests including blood, gut biome, metabolomics 8 minutes / patient Patien tient med edic ical data and res esearch are ign ignored in in clin clinic ical l practi tice 2 Muses Labs, Inc. -- CONFIDENTIAL

  6. Essential elements of Precision Medicine In Invasive Precision Medicine Protocol Phar Pharmaceutic icals ls Interventions Nut Nutraceutic icals ls Li Lifestyle yle Precision Medicine Platform Process big data on patients, Ge Genome Medical Bloo lood apply medical knowledge, Metabol olomics Assessments recommend treatment Gut ut Biom iome R&D and Labs Clinic Patient 3 Muses Labs, Inc. -- CONFIDENTIAL

  7. Initial Solution: Precision Medicine for Cognitive Decline A recurring revenue stream Medical Information Service Target customer: Physicians, Senior Living Facilities MEND TM Protocol Service Value add • Personalized protocols • Medical testing Patient • Training Clinic • Medical visits • Neuropsych testing • Coaching • Cognitive stimulation • Wellness center • Interventions Correctly identify and treat the 4 dozen drivers of Cognitive Decline Pilo ilot resu esults sho how qua quantified im improvement in in mem emory fun function of of ear early-symptomatic in individuals Muses Labs, Inc. -- CONFIDENTIAL

  8. Precision Medicine for Cognitive Decline Software Personalize • • Beta-amyloid Genome • • Metabolic issues Blood tests • • Inflammation Imaging • • Toxicity Medical history • • Hormone imbalance Comorbidities • • Cognitive atrophy Medications • • Poor lifestyle Lifestyle Pharmaceuticals Nutraceuticals Lifestyle • • … … Simultaneously address 5 Patents have been filed, additional underway 5 Muses Labs, Inc. -- CONFIDENTIAL

  9. Pilot results from application of Muses Labs’ Alzheimer’s Protocol Presented at Alzheimer’s Association International Conference in July, 2016 Baselin Base ine an and pos post t treatment cog ognit itive tes test res esult lts Pi Pilo lot ou outcome sum summary: Mos ost Ini nitial Sc Score Ear arly ly-sym ymptomatic ic: n=1 n=14 n=19 n=1 Rec ecent Early- symptomatic Alzheimer’s spectrum Late-symptomati La tic: n=5 n=5 mea ean (SD) (SD) mean (SD) mea (SD) patients • Quantified improvement in memory MoC oCA (be (best=30 30) 25.9 (3.1) 26.8 (2.9) 17.3 (1.2) 17.3 (1.2) and cognitive function CNS-VS com CN omposite mem emory %til ile 47.9 (30.5) 55.2 (30.9) • Continued study is warranted 3.7 (2.1) 2.7 (1.2) CNS-VS executive fun CN function %til ile 50.0 (24.2) 49.4 (21.6) Late-symptomatic patients 3.3 (3.4) 7.0 (7.8) • Higher score is better No positive response Physician administered test: MoCA Computer administered test: CNS-VS Early- symptomatic: MoCA≥20, SAGE≥14 Average duration on precision treatment: 6 months Muses Labs, Inc. -- CONFIDENTIAL

  10. GTM for initial solution: Direct and Contract Sales Healthcare Providers • Individual Physicians • Concierge Medicine • Clinics and Hospitals • Executive Health Target networks • Telemedicine • Partner networks • Medical associations • Assisted living facilities Continuing Care / Senior Living Facilities Muses Labs, Inc. -- CONFIDENTIAL

  11. Market opportunity for Cognitive Decline solution Targeted cognitive decline population US Worldwide 20% of the US patient MCI Patients (over 65) - Millions 6.2 84.0 base results in an Early stage AD patients - Millions 1.8 11.9 annual opportunity of Total - Millions 8.0 95.9 $3.4B. Source: Muses Labs estimate based on data from Alzheimer’s Association, US Census, Mayo Clinic and Alzheimer’s International US Chronic disease opportunity • > $100B for Precision Management Clinical Solutions • 86% ($2.5T) of all health care spending was for people with one or more chronic diseases (CDC, 2010) Source: Muses Labs estimate based on data from CDC Muses Labs, Inc. -- CONFIDENTIAL

  12. Capturing the broader Precision Medicine opportunity 2016 2017 2018 Target customer Physicians Senior Living, Consumers Alzheimer’s Depression Diabetes UnDx Auto Immune Disorders US UK, Canada China EU Australia Geographic Muses Labs, Inc. -- CONFIDENTIAL

  13. Muses Labs, Inc. -- CONFIDENTIAL

  14. A CCOMPLISHMENTS Improved financial performance: • Q2 2016 vs. Q2 2015 • Investment income increased by 60 percent • Net operating loss decreased by 34 percent • H1 2016 vs. H1 2015 • Investment income increased by 77 percent • Net operating loss decreased by 39 percent • Four portfolio companies, Mersana, Lodo, HZO and NGX Bio, completed rounds of financing. • Two monetization events: Bridgelux and Magic Leap. • Two initial investments in precision health and medicine companies: Fleet Health Alliance and Muses Labs. • Two initial co-investment opportunities launched: D-Wave Systems and HZO. • Interome was an organizer of the UnDx Consortium. • Significant developments at a number of our portfolio companies including, ORIG3N, Ensemble, Nanosys, • Enumeral, TARA Biosystems and Metabolon. 14

  15. C HALLENGES • Net Asset Value per share (“NAV”) decreased from $2.88 at December 31, 2015, to $2.67 at March 31, 2016, to $2.63 at June 30, 2016. • Our share price decreased from $2.20 as of December 31, 2015 to $1.61 as of June 30, 2016 and $1.58 as of August 8, 2016. • Increases in value due to financings may not be reflected in full in our values owing to other rights and preferences afforded to investors in those rounds of financing. • IPOs of small companies are difficult to complete, and when they are completed, they often occur at valuations lower than publicly traded comparable companies and rounds of private financing. • The values of public equities, particularly those of microcapitalization companies, are highly volatile. • The downturn in the oil and gas sector continues to negatively affect the business operations of at least one of our portfolio companies, Produced Water Absorbents, Inc. 15

  16. B ALANCE S HEET June 30, 2016 December 31, 2015 Venture Capital Portfolio $75,020,758 $77,152,904 Cash and US Treasuries $11,841,767 $17,922,630 Total Assets $88,428,366 $96,461,286 Debt $5,000,000 $5,000,000 Net Assets $81,284,282 $88,711,671 Shares Outstanding 30,880,829 30,845,754 Net Asset Value Per Share (NAV) $2.63 $2.88 16

  17. I NCOME S TATEMENT Three Months Ended Three Months Ended Six Months Ended Six Months Ended June 30, 2016 June 30, 2015 June 30, 2016 June 30, 2015 Total Investment Income $460,042 $288,195 $762,084 $431,027 Total Expenses $1,508,348 $1,873,502 $2,972,319 $4,052,679 Net Operating Loss $1,048,306 $1,585,307 $2,210,232 $3,621,652 Net Realized Gain/(Loss) $234,885 $3,230,518 $(4,174,893) $2,947,112 from Investments Net Increase in Unrealized Depreciation $327,707 $3,116,377 $764,135 $4,587,158 on Investments 17

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