Iomai Corporation

Iomai Corporation was a biopharmaceutical company pioneering transcutaneous immunization (TCI), a needle-free vaccine delivery technology discovered at the Walter Reed Army Institute of Research. The technology uses antigen-presenting cells in the outer layers of skin to generate an enhanced immune response via a simple vaccine patch. Iomai had four product candidates in development including vaccines targeting traveler's diarrhea and influenza/pandemic flu. In January 2007, Iomai received a $128 million US government contract to develop a dose-sparing patch for pandemic influenza. In 2008, Intercell AG acquired Iomai for $6.60 per share, representing approximately $189 million in fully diluted equity value.