Company: TELO
Filing Date: 2025-11-28
Form Type: PRER14A
Source: 0001493152-25-025406
Chunk: 56

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-28
Form: PRER14A
Chunk 56
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 Analysis method is the most appropriate. This method is suited for valuing preclinical and clinical stage biotech assets, novel pharma and biotech drugs undergoing development, and other life sciences assets that undergo phased development.

The mechanics of rNPV involve (1) estimating clinical trial and approval probabilities; (2) adjusting cash flow projections for risk using these probabilities; (3) discounting risk-adjusted cash flows to present value; and (4) summing risk-adjusted cash flows to derive rNPV. This captures the risks inherent in biotech drug development. rNPV provides a more accurate asset valuation than basic DCF Analysis as it enables conducting pharma and biotech valuation based on the stage (preclinical, Phase 1-3) of development of assets. As mentioned in the company description, TELI is currently in the process of developing a pharmaceutical candidate, Telomir-1, with two indications: (1) aiming to treat nicotine dependence and smoking cessation; and (2) as a weight loss treatment.

Moore has valued TELI under the assumption that Telomir-1 is its single project, therefore Moore accounted for expected income and expenses related to these indications alone and did not take into consideration developments that TELI might be performing in the future.

Another assumption made for the sake of the current valuation is that TELI will develop the two indications, Age Related Macular Degeneration (AMD) and breast cancer, on its own until the successful termination of the Phase II clinical trials and following that will seek for a business agreement with a large pharma company that will perform the Phase III clinical trials (on its own account) and after the successful conclusion of the trials will continue and market the finished products. TELI will be entitled to an upfront payment at the end of Phase II and royalties from the third-party revenues. The detailed analysis of the DCF Analysis can be reviewed in the valuation reports attached as Annex B to this proxy statement which is incorporated herein by reference.

Review of Available Markets for TELI

In its analysis, Moore based the potential of Telomir-1 on the total available market of its potential usersfor each of its
two indications in the European markets from 2025 until 2045. For dry AMD, both in early and late stages, the potential market
sizes are 555,848,000 and 115,079,000 respectively. The estimations of the Breast Cancer population are based on the incidence
rates of Stages I