2016 FINANCIAL CONSIDERATIONS
IPM’s cash, cash equivalents and short-term investments as of Dec. 31, 2016, totaled USD 11.5 million. In 2016, IPM advanced three major programs:
- Support to clinical research center partners and clinical activities to transition from The Ring Study, one of two Phase III clinical trials of the dapivirine ring, to DREAM, an open-label extension study that launched in July 2016 to provide the ring to approximately 1,400 former Ring Study participants and 600 young women using the product for the first time. Comprehensive analyses of Ring Study data continued in 2016. IPM also supported chemistry, manufacturing and control activities to support the regulatory filing to the EMA, to automate some aspects of the ring manufacturing process and scale up capacity in preparation for the ring’s potential launch in African countries where women face high HIV risk.
- Regulatory activities to assemble a comprehensive dossier of data on the dapivirine ring and to prepare applications to license the ring that IPM currently plans to submit in mid-2017 to the EMA, late 2017 to the MCC and in 2018 to the FDA.
- Pipeline products, including the conduct and data analysis of the first clinical trial of DS003 and manufacturing of supplies for the first clinical trial of IPM’s three-month dapivirine-contraceptive ring, which began in 2017. This work is conducted in consultation with IPM’s Scientific Advisory Board using a highly disciplined approach to product prioritization that advances only the most promising self-initiated HIV prevention tools and other sexual and reproductive health technologies for women.
In 2016, IPM received significant support from donors including the Ministry of Foreign Affairs of Denmark, the Flanders Department of Foreign Affairs, the German Federal Ministry of Education and Research, Irish Aid, the Ministry of Foreign Affairs of the Netherlands, Norad, DFID, USAID and the Bill & Melinda Gates Foundation. IPM received approximately USD 29.7 million (cash receipts) in 2016.
IPM’s 2016 financial audits continue a history of full compliance with all financial reporting requirements from all US and international government and private donors. In 2016, IPM again received unqualified, or clean, opinions on all audits in both its South Africa and US offices.
IPM’s Board of Directors, management team and staff are committed to efficiently and effectively deliver on our mission to accelerate the development and availability of prevention products that women can use to protect against HIV infection. Women and girls continue to become infected at alarming rates, especially in sub-Saharan Africa, and new products like the dapivirine ring have the potential to make a significant public health impact. Sustained donor funding for IPM’s activities is essential, and we continue to advocate for increased funds from existing donors and pursue new sources of support to achieve our goals.
