AutoImmune Inc. Reports 2009 Third Quarter Financial Results

PASADENA, Calif., Nov. 10 /PRNewswire-FirstCall/ -- AutoImmune Inc. (OTC
Bulletin Board: AIMM) today reported net income of $2,000, or $0.00 per share
basic and diluted, for the three months ended September 30, 2009, compared
with a net loss of $23,000, or $0.00 per share basic and diluted, for the
three months ended September 30, 2008. For the nine months ended September 30,
2009, the net loss was $254,000, or $0.01 per share basic and diluted,
compared with net loss of $216,000, or $0.01 per share basic and diluted for
the same period in 2008. As of September 30, 2009, the Company reported $8.1
million in cash and marketable securities as compared to $8.5 million in cash
and marketable securities as of December 31, 2008.

Chairman of the Board and Chief Executive Officer Robert C. Bishop, Ph.D.
stated, "Product sales in the first nine months of 2009 at Colloral LLC, our
joint venture with Deseret Laboratories, Inc., more than doubled from the same
period in 2008. The response to marketing through our licensee, Bronson
Laboratories, LLC remains encouraging." AutoImmune consolidates Colloral LLC
for financial reporting purposes.

AutoImmune has exclusively licensed certain of its intellectual property
rights pertaining to an injectable therapy for the treatment of multiple
sclerosis to BioMS Medical Corp. Under the license agreement, BioMS currently
makes monthly diligence payments to AutoImmune. BioMS in July 2009 announced
that dirucotide, the lead drug covered by AutoImmune's license agreement, did
not meet the primary endpoint of delaying disease progression during a
two-year Phase III trial in patients with secondary progressive multiple
sclerosis (SPMS). BioMS also announced that it would discontinue ongoing
clinical trials and review all available data. It is now expected the review
will be completed by the end of this year. Chairman of the Board and Chief
Executive Officer Robert C. Bishop, Ph.D. stated, "We were obviously
disappointed by the trial results and look forward to further announcements
from BioMS regarding their future plans for this approach to treating SPMS."
On October 21, 2009, AutoImmune announced that its Board of Directors
authorized the exploration of a full range of strategic alternatives available
to the Company in order to enhance shareholder value. AutoImmune has retained
Junewicz & Co. as its financial advisor for this evaluation process, which is
now ongoing.

AutoImmune is a biopharmaceutical company involved in the development of
treatments for autoimmune and cell-mediated inflammatory diseases and
conditions.

Statements in this release that are not strictly historical are
forward-looking statements for purposes of the safe harbor provisions under
The Private Securities Litigation Reform Act of 1995. These statements include
statements about clinical trials and studies and future sales, royalties and
revenue. You can identify these forward-looking statements because they
involve our expectations, beliefs, projections, anticipations or other
characterizations of future events or circumstances. These forward-looking
statements are not guarantees of future performance and are subject to risks
and uncertainties that may cause actual results to differ materially from
those in the forward-looking statements as a result of any number of factors.
These factors include, but are not limited to the uncertainties of clinical
trial results, AutoImmune's dependence on third parties for licensing revenue,
and the risks of technological change and competition. These factors are more
fully discussed, as are other factors, in AutoImmune's most recent Annual
Report on Form 10-K filed with the Securities and Exchange Commission in the
section entitled "Risk Factors." We have no plans, and disclaim any
obligation, to update or revise any forward-looking statements whether as a
result of new information, future events or other factors, except as required
by law.

- Financial Chart Follows -

AUTOIMMUNE INC.
STATEMENT OF OPERATIONS
(Unaudited)

Three months ended Nine months ended
September 30, September 30,
2008 2009 2008 2009
---- ---- ---- ----

Revenue $57,000 $237,000 $225,000 $525,000
------- -------- -------- --------

Costs and expenses:
Cost of goods sold 1,000 74,000 29,000 144,000
Research and development 3,000 (5,000) 93,000 96,000
General and
administrative 125,000 150,000 511,000 518,000
------- ------- ------- -------
Total costs and
expenses 129,000 219,000 633,000 758,000
------- ------- ------- -------

Interest income 51,000 8,000 195,000 25,000
51,000 8,000 195,000 25,000
------ ----- ------- ------

Net income (loss) (21,000) 26,000 (213,000) (208,000)
Net income attributable
to noncontrolling
interest 2,000 24,000 3,000 46,000
----- ------ ----- ------

Net loss attributable to
AutoImmune Inc ($23,000) $2,000 ($216,000) ($254,000)
======== ====== ========= =========

Net income (loss) per
share - basic ($0.00) $0.00 ($0.01) ($0.01)
====== ===== ====== ======

Net income (loss) per
share - diluted ($0.00) $0.00 ($0.01) ($0.01)
====== ===== ====== ======

Weighted average common
shares outstanding -
basic 16,999,623 16,999,623 16,998,820 16,999,623
========== ========== ========== ==========

Weighted average common
shares outstanding -
diluted 16,999,623 17,159,754 16,998,820 16,999,623
========== ========== ========== ==========

CONDENSED BALANCE SHEET
(Unaudited)

December 31, September 30,
2008 2009
---- ----

Cash and short-term
marketable securities $8,475,000 $6,843,000
Other current assets 195,000 342,000
Long-term marketable
securities - 1,305,000
--- ---------

Total assets $8,670,000 $8,490,000
========== ==========

Current liabilities $147,000 $144,000
Total equity 8,523,000 8,346,000
--------- ---------

Total liabilities
and equity $8,670,000 $8,490,000
========== ==========

SOURCE AutoImmune Inc.

Robert C. Bishop, Ph.D., Chairman and Chief Executive Officer, AutoImmune
Inc., +1-626-792-1235