Product Pipeline

Portfolio Overview:
Currently, airPharma is developing two compounds both of which have an existing safety profile and early data indicating clinical efficacy. The Company's lead in-licensed compound, Zofac™ (Pumactant), is a surfactant which is being developed for the treatment of asthma and Chronic Obstructive Pulmonary Disease (COPD). airPharma's product candidate Alluvant™ is the second compound that will utilize the PADD delivery device for delivery. It can be used either therapeutically to treat both early and late phase symptoms of allergic asthma or prophylactically to reduce or eliminate allergic symptoms, such as sneezing.

Zofac™
airPharma is initially developing its lead product, Zofac™ (Pumactant) for the prevention of asthma exacerbation. The Company estimates the market for allergic asthma will reach peak sales of approximately $500 million annually. Following the anticipated approval for asthma, the Company will seek approval for Zofac™ for the treatment of COPD. The Company estimates annual peak sales of this product for the treatment of COPD are approximately $460 million. Additional research will be conducted on Zofac™ by researcher affiliated with the Cystic Fibrosis Foundation, and should the product demonstrate efficacy, this market would conservatively represent $25 million annually.

Alluvant™
airPharma's second compound will also utilize the PADD device for delivery of an established active pharmaceutical ingredient with an extensive and excellent safety profile. By combining the unique delivery capabilities of the PADD device with the chemical and physical properties of the compound, only a limited amount of product development work will be required. The regulatory approval process will accelerated by utilizing the pre-existing safety and efficacy data along with the Company's own clinical and chemistry data. The combination of product and novel device will garner market exclusivity. airPharma intends to pursue development of Alluvant™ for the asthma market with a revenue projection of $450 million annually. Currently, there are no other dry powder formulations of this compound on the market in the US.