H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals

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H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
H1-2021
Presentation
26 th August 2021

           | Investor Presentation
                                     Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
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Neither this presentation nor any part of it, nor the fact of its distribution, shall form the basis of, or   materially different from estimated future results, performance or achievements expressed or
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                                                                                                              patients in the MATINS trial may not be replicated in larger patient numbers and the outcome of
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  2                                                                         Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Faron is Focused on Building the Future of Immunotherapy

             A unique macrophage focused therapy targeting CLEVER-1 with demonstrated
    1
                       single agent activity in multiple advanced solid tumors

                     30%+ clinical benefit positions macrophage-targeting Bexmarilimab to
         2
                         change the treatment paradigm in difficult to treat cancers

                         Favorable safety profile of Bexmarilimab allows for further expansion
              3
                                             and dose confirmation trials

                           Worldwide rights to all indications for Bexmarilimab with strong
               4
                                         IP coverage through at least 2037

              5    Multiple near-term value inflection points in the next 18 months for Bexmarilimab

                    Other macrophage targets (e.g., CD47) attract significant attention from
         6
                                     investors and pharma companies

          Additional pipeline assets focused on organ protection and regenerative medicine
    7
                          show early signs of preclinical and clinical efficacy
3                                Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Harness the Power of the Immune System
                       Modulating the immune system is key to tackling cancer and inflammation

      Programs                                                          Phase of Development                                     Anticipated
                              Indication(s)
       (Target)                                       Preclinical       Phase 1         Phase 2          Phase 3                Key Milestones

 Immuno-Oncology                                                                                                    Additional data to be presented at ESMO
                           Solid Tumors (MATINS)                                                                     Congress 2021 in September
                                                                                                                    Pivotal cohorts to begin recruitment H1 ’22

                                  NSCLC
                                                                                                                    First-patient-in expected in Q4 ‘21
    Bexmarilimab             (MATINS-05 LUNG)
 (anti-CLEVER-1 mAb)
                        Neoadjuvant in Solid Tumors
                                                                                                                    First-patient-in expected in Q4 ‘21
                                (RENACOL)

                         Hematological Malignancies                                                                 First-patient-in expected in Q4 ‘21
                               (MATINAML)                                                                           Phase 1 data in Q3 ’22
  Organ Protection
                             ARDS & COVID-19
                                                                                                                    First patient dosed August ‘21
                                (HIBISCUS)
      Traumakine
   (Intravenous IFN          ARDS & COVID-19
        beta-1a)                                                                                                    Additional data expected in '21
                               (REMAP-CAP)

Regenerative Medicine          Hematological
                                Malignancies
    Haematokine                                                                                                     Anticipated IND submission in 2022
   (A0C3 Inhibitor)         Bone Marrow Failure

     4                                                Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Pipeline Highligths
                                              H1-2021 and post period

• Bexmarilimab demonstrates compelling antitumor activity in multiple advanced solid tumor types in
  the completed Part I and ongoing Part II of the MATINS study
      •   Strongest results were observed in cutaneous melanoma, gastric cancer, cholangiocarcinoma, and
          hepatocellular carcinoma, with a 30% - 40% disease control rate across these tumor types
      •   Additional clinical trials are planned to start in Q4 2021
      •   Secured patents in the US and Japan protecting the composition of matter of bexmarilimab
      •   Companion diagnostics (CDx) for Clever-1 detection in histological samples developed and validated with
          Laboratory Corporation of America (“Labcorp”)
      •   Additional MATINS data accepted as LBA for presentation at ESMO Congress 2021 in mid-September

• Traumakine® development accelerated for the treatment of acute respiratory distress syndrome (ARDS)
  and other ischemic or hyperinflammatory conditions.
      •   Dosing commenced in the Phase II/III HIBISCUS trial – co-funded by US Department of Defense
      •   Signed a sub-license agreement covering a relevant manufacturing patent in the US
      •   Partnership established with the 59th Medical Wing of the U.S. Air Force and U.S. Army and U.S. Army Institute
          of Surgical Research to explore the use of Traumakine for organ protection in combat wounds
      •   New manufacturing process is progressing as planned in collaboration with AGC Biologics.
  5 | 08.26.21                           Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Financial Highlights
                               1 January – 30 June 2021 (unaudited)

• Cash balances of €7.0 million at 30 June 2021 (2020: €11.6 million).

• Operating loss of €10.4 million for the six months ended 30 June 2021 (2020: €7.1 million). The
  increase mainly driven by an additional €3.5m million in R&D expenses due to acceleration of the
  pipeline assets

• Net assets of €2.8 million at 30 June 2021 (2020: €7.3 million).

• Strengthened the balance sheet in February 2021 by raising €15 million gross (€14.4 million net)
  from new and existing shareholders through an issuance of 3,521,127 new ordinary shares.

• Received $6.1 million commitment from the US Department of Defense (DoD) to support the
  HIBISCUS trial as part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act

6 | 26 August 2021                 Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Bexmarilimab
                      (anti-CLEVER-1 mAb)

| Investor Presentation
                          Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
A CLEVER Antibody: Outsmarting Cancer with Early Signs of Efficacy

                                  A unique macrophage focused therapy targeting CLEVER-1
                           1      with demonstrated single agent activity in multiple advanced
                                  solid tumors

                                  Favorable safety profile enables extensive combinations with
                           2      checkpoint inhibitors

                                  Opportunity to transform the treatment of cancers that are
                           3      not responsive to current treatment options

                                  Extensive IP Coverage through 2037 with further protection
                           4
                                  being sought via regulatory designations

8                        Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Bexmarilimab Opportunity
                                       Benefiting those who do not respond to checkpoint inhibition
 CPIs were among the first drugs to significantly impact survival in
metastatic melanoma and lung cancer, which were in-curable before                                The adoption of CPIs has occurred very quickly due to their success
                               this                                                                  in improving overall survival, despite poor response rates1

                                                                                                                                        All Comers

                                                                                                                                                                  Responders

                                                                                                                                                   13%

                                                                                                                                   87%

                                                                                                    Non-Responders

Kaplan-Meier Curver from: KEYNOTE-407 Pembrolizumab and Chemotherapy for NSCLC                 1) O’Connor et al. (2018) JAMA Oncol.;4(8):e180798.
Paz-Ares. et al. (2018) NEJM. 379: 2040-2051
                                                                                               Pie Chart adapted from: Haslam and Prasad (2019) JAMA Netw Open. 2019 May;
     9                                                                                                                        2(5): e192535.
                                                                   Faron Pharmaceuticals | Non-Confidential Information
H1-2021 Presentation 26th August 2021 - | Investor Presentation - Faron Pharmaceuticals
Macrophages: The Next Breakthrough in Oncology
                                                                   A poorly understood, but promising area of IO 1

                              Why Macrophages?                                                            Macrophages make up nearly 50% of cancer mass                         7

     • Macrophages promote tumor growth and metastases                                                         M2, but not M1 macrophages play a central role in promoting
                                                                                                            proliferation, colony formation, migration and treatment resistance 5
     • Macrophages create a highly immunosuppressive environment

     • Targeting tumor associated macrophages (TAMs) has shown
       promising preclinical results 1,2

                                                                                               CRC
     • Continued evidence shows that macrophages are key in
       treatment resistance 3
     • Repolarisation of pro-tumoral M2 macrophages to anti-tumor
       M1 macrophages causes a tumor suppressive effect 3,4

     • Activating macrophages has shown to remove resistance against

                                                                                               Melanoma
       the current regime of targeted therapies across indications 4,5,6

1)    Jahchan et al (2019) Front Immunology. 10:1611
2)    Cassetta and Pollard (2018) Nature Reviews: Drug Discovery 17(12) 887-904
3)    Guerriero (2018) Trends in Molecular Medicine. 24 (5) 472-489
4)    Duan & Luo (2021) Signal Trans and Targ. Ther. 6 (127)                                               Tumors high in macrophages impede the entrance of effector T-
5)
6)
      Dong et al (2019) BJC. 121 22-33
      Peranzoni et al (2018) PNAS. 115 (17) E4041-4050
                                                                                                           cells limiting the effect of current checkpoints therapies 6
7)    Vinogradov et al (2014) Nanomedicine. 9(5) 695-707
8)    Virtakoivu et al. (2021) Clin Cancer Res June 2, 2021, DOI: 10.1158/1078-                Tumor samples from MATINS Patients 8
      0432.CCR-20-4862
       10                                                                   Faron Pharmaceuticals | Non-Confidential Information
CDx (Companion Diagnostics) for Clever-1 Detection in Tissue Samples
                                             Significant milestone achieved

    • Clone identification and initial characterization 
    • Protocol 
    • Accuracy, Precision, Sensitivity, Specificity 
          -> Laboratory Developed Test (LDT) is working, and clinical trial testing & feasibility assessment can be initiated
    • Next steps
      – Manufacturing capability for reagents/kits
      – Partnerships with IVD manufacturers
      – FDA submissions
      – Commercialization
      – Market access strategy, product launch and reimbursement strategy

11 | 08.26.21                                Faron Pharmaceuticals | Non-Confidential Information
The Most Promising Macrophage Strategy: Reprogramming 1
                                                           Novel and diverse antibody with broad applicability
                                                                                                                          Bexmarilimab
                                      CLEVER-1
                                                                                         Bexmarilimab is a humanised anti-CLEVER-1 IgG4 antibody currently in clinical trials
• A large glycoprotein receptor that is expressed on the                                         for solid tumors and expanding into hematological malignancies. 2
  surface of immunosuppressive macrophages 2
                                                                                        Faron holds the worldwide rights to the Bexmarilimab program in all indications.
• As a scavenger receptor it is known to bind to a wide range of                                          Proposed mechanism of action
  ligands and therefore central to tissue homoeostasis and
  tolerance 2

• CLEVER-1 positive macrophages are highly
  immunosuppressive; high expression levels are only seen in
  cancer and pregnancy 3
• CLEVER-1 has been shown to be central to treatment
  resistance in both solid and liquid tumors alike 4,5,6,7

• CLEVER-1 is a multifaceted molecule with a major impact on
  tumor immune response 2

1)   Li et al (2021) JITC. 9: e001341
2)   Hollmen et al., (2020) BJC. 123. 501-509
3)   Palani et al., (2011) Eur. J. Immunol. 41 2052-2063
4)   Kwon et al., (2019) Head Neck. 41 2058-2064                                       Bexmarilimab
5)   Yin et al., (2020) Oncol. Lett. 19(3)2404-2412
6)   Dong et al (2019) BJC. 121 22-33
7)   Lin et al (2019) Mol. Ther. Nuc. Acids. 18 476-484
      12                                                           Faron Pharmaceuticals | Non-Confidential Information
CLEVER-1: a Master T Cell Suppressor
     Tackling both immunosuppressive macrophages and soluble protein that inactivates T-cells

                                                                                                               Advanced cancer
                                                                                                                 patients have
                                                                                                               elevated levels of
                                                    Bexmarilimab                                                   CLEVER-1
                                                                                                               macrophages and
                                                                                                               the soluble form

                                                                           Bexmarilimab inhibits soluble CLEVER-1 from
                                                                         interfering with the immunological synapse and
                                                                            T-cell activation, a tool for cancer to create
                                                                                   systemic immune suppression
13                               Faron Pharmaceuticals | Non-Confidential Information
Inhibition of CLEVER-1 Leads to Responses in Refractory Mice Models
                                  Macrophages are central to tumor growth and survival

                                                             Silencing the STAB1 gene for CLEVER-1 shows a dramatic improvement in AML cell lines

                    *
                                            *

                    *                                            500             LLC 1
                                                                 400                                                                         2

                                                                 300
                                                                                                                                                   *
                                                                                                 *
                                                           mm3

                                                                 200

                                                                 100
     Tumors cannot grow in mice that do not have                   00
                                                                             5          10       15
         CLEVER-1 positive macrophages 1
                                                                                 Days
                                                            Anti-CLEVER-1 has single agent activity in anti-PD-1 refractory models such as LLC and B16 1,2
                                     1) Viitala et al. (2019) Clin Cancer Res. 25(11) 2) Karikoski et al. (2014) Clin. Cancer Res. 20(24)
14                                                     Faron Pharmaceuticals | Non-Confidential Information
Bexmarilimab’s Ability to Turn Cold Tumors Hot
   23% of immune suppressed cancer patients show an IFNy response during dose finding
                                                                                             Robust T-Cell           Restoration of Pro-Inflammatory
             Mice 1                          MATINS patient 2                                 Activation 2                   IFNy Response 2
                                            Pre-
                        Wild Type
                                         Treatment                                                                                IFNy

                                            Post-
                        CLEVER KO        Treatment

Cytotoxic granzyme B positive CD8 T cells can be seen in
                    green and red
1) Viitala et al. (2019) Clin Cancer Res. 25(11)
2) Virtakoivu et al. (2021) Clin Cancer Res June 2 2021 DOI: 10.1158/1078-0432.CCR-20-4862
 15                                                           Faron Pharmaceuticals | Non-Confidential Information
MATINS Trial Design and Rationale
                         A first-in-human study in advanced solid tumors with high levels of macrophages

                                                                                                    Design
                            Biology                                                                                                                                   Milestones

       Macrophages are central for changing the                                 Open-label Phase 1/2 adaptive clinical
             treatment paradigm in IO 1                                            trial in selected metastatic or
                                                                                      inoperable solid tumors 5                                      Additional data from Phase 1/2 trial to be
     CLEVER-1 is a prognostic marker for multiple
                                                                                                                                                       presented at ESMO Congress 2021 in
                  solid tumors 2,3,4,5                                           Currently evaluating multiple doses                                                September
                                                                                and frequencies including 1W, 2W and
   CLEVER-1 has multiple functions that are key to                              3W dosing for optimal target coverage
                fighting tumors 1,6                                                                                                                  First Pivotal Cohorts to begin recruitment
                                                                                                                                                                      H1 2022
    Tumor-associated M2 macrophages can make                                    Focus on advanced hard-to-treat solid
          up to 50% of the tumor mass 7                                           cancers with exhausted treatment
                                                                                              options 5

            Companion Diagnostics will be incorporated into the pivotal expansion of the cohorts into larger trials and larger indications where patient
                     populations are very heterogenic. The current plan is to evaluate IHC, sCLEVER-1 and other T-cell activation markers.

1) Duan & Luo (2021) Signal Trans and Targ. Ther. 6 (127) 2) Kwon et al., (2019) Head Neck. 41 2058-2064 3) Yin et al., (2020) Oncol. Lett. 19(3)2404-2412 4) Zhao et al (2019) J. Canc. Res.
   & Clin. Onco. 145:3005-3019 5) Dong et al (2019) BJC. 121 22-33 6) Hollmen et al., (2020) BJC. 123. 501-509 7) Vinogradov et al., (2014) Nanomedicine. 9(5) 695-707

      16                                                               Faron Pharmaceuticals | Non-Confidential Information
A Dramatic Turnaround for Last Line Patients
                                                             Overall survival in all MATINS patients

                                                                                                                   Patients who are at the end of life have a
                                                                                                                          significant survival benefit

                                                                                                     • In all comers, last line, unoptimized setting patients with
                                                                                                       cutaneous melanoma, gastric cancer, cholangiocarcinoma and
                                                                                                       hepatocellular carcinoma disease control was seen in up to 30
                                                                                                       - 40% of patients 1,2
                                                                                                     • Patients who benefit (PR or SD) from Bexmarilimab have 100%
                                                                                                       6-month survival estimate 3
                                                                                                             • Compared to 30% survival in non-responding patients
                                                                                                             • This almost doubled the survival of advance
                                                                                                               cholangiocarcinoma patients, when comparing
                                                                                                               to historical survival 4
                                                                                                     •    Progression free survival was the same in non-responding and
                      Response to Bexmarilimab –treatment                                                 responding patients prior to treatment with Bexmarilimab
                               Non-responders         Responders                                     Data available from company press release 1,2,3
1)Faron Pharmaceuticals Ltd (2021 May 17th) Bexmarilimab monotherapy shows promising anti-tumour activity in multiple advanced solid tumours. [Press release] https://www.faron.com/news-
events/news-and-press-releases?rnsid=1476431&cid=2223 2) Faron Pharmaceuticals Ltd (2021 June 22nd) Updated corporate presentation 3) Faron Pharmaceuticals Ltd (2021 March 22nd)
Bexmarilimab (Clevegen) development update. [Press release] https://www.faron.com/news-events/news-and-press-releases?rnsid=1462608&cid=2223 4) Smyth and Moehler (2019) Ther Adv Med Oncol.
17 | 26 August, 2021                                              Faron Pharmaceuticals | Non-Confidential Information
MATINS Phase I/II Top Line Data
                                                Safety and efficacy data from over 140 patients
                           Top Line Efficacy Data                                                       Subsequent expansion and dose confirmation cohorts
                                                                              Response in                      based on the responses seen in first 10
                                                                            target lesion (%)                      patients/indications include:
                                                                                                               Gastric cancer, cutaneous melanoma,
                                                                                                         cholangiocarcinoma and hepatocellular carcinoma

*Part I patient with tumor shrinkage but hemorrhagic brain metastases leading to PD
        18 of treatment
EOT = end                                                        Faron Pharmaceuticals | Non-Confidential Information
Soluble CLEVER-1: a Master Regulator of T Cell Activation
                             Bexmarilimab treatment downregulates major checkpoints
                                                                          PD-1 Levels
                                                                          in Patients                      What makes Bexmarilimab
                                                                                                                 different?

                                                   CD4 Cells
            Dosing                                                                                         Unique macrophage focused therapy
                                                                                                           to show signs of survival benefit in
                                                                                                          multiple advanced cancer types as a
                                                                                                           monotherapy

                                                                                                           Ability to specifically target and
                                                                                                          reprogram immunosuppressive M2
                                                                                                           macrophages

                                                   CD8 Cells
                                                                                                           Transformative effect on T cells by
                                                                                                          targeting macrophages; increasing
                                                                                                           T cell activity and improving their
Level of active sCLEVER-1 during Bexmarilimab                                                              cytotoxic effectiveness
                   treatment

The downward trend in expression of major checkpoints aligns with the inhibition of soluble
                                      CLEVER-1

    19                                          Faron Pharmaceuticals | Non-Confidential Information
Indications Chosen for MATINS Expansion
                                                Response Rates, Patient Populations and Annual Incidence
                                                                                                                                 Standard of Care and                                     Bexmarilimab benefit in Refractory
                                                         Annual Incidence 1
                                                                                                                                 Refractory Population                                            Population 10,11,12
                                                              USA: 98,000
                                                              5EU: 77,500                                                  CPIs as standard of care at 1stL                                                       30%
Cutaneous Melanoma
                                                             Japan: 13,000                                                  60-70% refractory to 1stL 2,3                                                        (3/10)
                                                              China: 9,500
                                                              USA: 29,500
                                                              5EU: 54,000                                                          3rdL approval 4                                                                30%
   Gastric Cancer
                                                            Japan: 140,500                                                  80% refractory to 3rdL CPIs 5,6                                                      (3/10)
                                                            China: 478,500

                                                              USA: 10,500
                                                                                                                          1stL generic chemotherapy
                                                              5EU: 4,000                                                                                                                                          30%
Cholangiocarcinoma                                                                                                            No established 2ndL 7
                                                             Japan: 7,500                                                                                                                                        (3/10)
                                                                                                                        85% refractory to CPI treatment 8
                                                             China: 48,000

                                                             USA: 34 500
                                                                                                                          Recent approval 1stL SOC to
   Hepatocellular                                            5EU: 43 500                                                                                                                                          40%
                                                                                                                      Atezolizumab–Bevacizumab (PD1-VEGF)
    Carcinoma                                               Japan: 30 500                                                                                                                                        (4/10)
                                                                                                                      75% refractory to combo treatment 9
                                                            China: 167 500

  1) GlobalData Epidemiology and Market Size Database 2) Asher et al (2020) Cancers. 12 (8) 2329; 3) Hamid et al (2019) Ann. Onco. 30(4) 582-588; 4) Le et al (2020) CCC. 19(1) 32-38; 5) Magalhaes et al (2018) Can J Gastro
  Hepatol 2018; 6) Brar and Shah (2019) Ther Adv Gastro 12; 7) Saeed et al (2019) CCR 18(2); 8) Guo and Shen (2020) Onco. Letters 20(6) 9) Finn et al (2020) NEJM. 382: 1894-1905
  10)Faron Pharmaceuticals Ltd (2021 May 17th) Bexmarilimab monotherapy shows promising anti-tumour activity in multiple advanced solid tumours. [Press release] https://www.faron.com/news-events/news-and-
  press-releases?rnsid=1476431&cid=2223 11) Faron Pharmaceuticals Ltd (2021 March 22nd) Bexmarilimab (Clevegen) development update. [Press release] https://www.faron.com/news-events/news-and-press-
  releases?rnsid=1462608&cid=2223 12) Faron Pharmaceuticals Ltd (2021 June 22nd) Updated corporate presentation 13) xxxxxxx
  20 | 08.26.21                                                                Faron Pharmaceuticals | Non-Confidential Information
Bexmarilimab Clinical Development Plan in Solid Tumors
                       Following the well-established path of other immuno-oncology drugs
                                    Today                                        FDA
         Exploring                                                              meeting
                                                                                              Pivotal Expansion                            BLA
                                                Dose Confirmation
    indications & doses

                                                 Once Bexmarilimab has
                                              shown a potential therapeutic               One or two doses will go into
                                              benefit in a given indication a             final pivotal expansion as pre-          Conditional approval
                                               multiple dose and frequency                  defined in an FDA meeting                 for indication
                                               expansion will be conducted

An All Comers Platform Trial
                                                    29 patients/group                         50 - 100 patients/group
Investigating dose and frequency
  prior to moving it into pivotal
        expansion cohorts

           Promising cancers                   Up to 4 different doses                        1 to 2 doses will be
                                                                                                                                      One dose for
           expanded from the                     & frequencies are                            evaluated in pivotal
                                                                                                                                       approval
            MATINS platform                     typically evaluated                                expansion

                                    Q3-2021                                     Q1-2022                                     2023

                                            A similar strategy has been successfully utilised by major checkpoints,
                                                             such as Keytruda, Opdivo and Yervoy
                                                  Faron Pharmaceuticals | Non-Confidential Information
Bexmarilimab Clinical Development Plan
                                                            Evidence based clinical trials to allow for registration

                                2021                                    2022                                   2023                    2024             Sites Involved

                                  The MATINS Platform Trial 1,2
                                                                                                                                              Comprehensive
                                                                                                                                              Cancer Centre
                                                                  Gastric

                                                               Melanoma
  Solid tumors

                                                        Cholangiocarcinoma

                                                    Hepatocellular carcinoma

                                                    Neo-adjuvant study in multiple indications 2

                                                      NSCLC in 1st line with a PD-1 inhibitor 2,3,4
Hematological
 malignancies

                                                    Ph I/II AML & MDS 1,2                          Pivotal Study in AML & MDS 2,4

                 1)   Open label adaptive trials aiming to become pivotal studies
                 2)   These trials are Faron’s future plans and therefore subject to changes depending on multiple factors
                 3)   Investigator sponsored study design
                 4)   RCT in combination with first line standard of care (SOC)

                                                                                Faron Pharmaceuticals | Non-Confidential Information
HOT or COLD Tumor - Can RENACOL Answer That?
       Testing neoadjuvant bexmarilimab treatment in localized renal cell and colon carcinoma

 Target: Localized renal cell and colon carcinoma
 prior surgical tumor removal
 Dosing: Single dosing 1-10 mg/kg (with option to
 go up 30 or 100 mg/kg) two weeks prior surgical
 operation
 Tumor analysis: Can we reinvigorate healthy
 immune system against cancer?
          •     Pathological response (tumour necrosis)
          •     Immune cell (T-cell) migration into the tissue
          •     DC migration (collection of lymph nodes)
          •     Gene expression in tissues
          •     Efficacy (DFS; 1, 3 & 5 yrs)

 Safety: Focus on complications after surgery e.g.,                                 Bexmarilimab 25 mg/ml      Checkpoint
 wound healing                                                                       concenrate for solution    inhibitors
                                                                                          for infusion

23 | 08.26.21                                  Faron Pharmaceuticals | Non-Confidential Information
Faron is Focused on Building the Future of Immunotherapy

              A unique macrophage focused therapy targeting CLEVER-1 with demonstrated
     1
                        single agent activity in multiple advanced solid tumors

                      30%+ clinical benefit positions macrophage-targeting Bexmarilimab to
          2
                          change the treatment paradigm in difficult to treat cancers

                          Favorable safety profile of Bexmarilimab allows for further expansion
               3
                                              and dose confirmation trials

                            Worldwide rights to all indications for Bexmarilimab with strong
                4
                                          IP coverage through at least 2037

               5    Multiple near-term value inflection points in the next 18 months for Bexmarilimab

                     Other macrophage targets (e.g., CD47) attract significant attention from
          6
                                      investors and pharma companies

           Additional pipeline assets focused on organ protection and regenerative medicine
     7
                           show early signs of preclinical and clinical efficacy
24                                Faron Pharmaceuticals | Non-Confidential Information
Traumakine
              (Intravenous IFN beta-1a)

| Investor Presentation
                          Faron Pharmaceuticals | Non-Confidential Information
Interferon Beta Induces CD73 for Organ Protection
                                   An effective pharmacotherapy for producing anti-inflammatory adenosine

                                                           Pro-inflammatory                                       Anti-inflammatory

Capillary                          Alveolus                           ATP                     AMP                       Adenosine
                                                                                                                                               Capillary
                             CO2              O2                                                                                                                       Alveolus
                     Protein-rich fluid                                                                                                                                Normal
                                                                                                                                                                     CO2           O2       Red
                                                                                                                                                                            O2 CO 2         blood
                                                                                                                                                                                            cells

                                                    Red blood cells                                                                 AMP
     Capillary leakage                  Leukocyte                                CD39                      CD73                           Adenosine Interferon   CD73           Leukocyte
                                                                                                                                                         β     expression

                                                                 Maximising the upside potential of a blockbuster

                         •    In Comparison with Dexamethasone
                                    • First patient in Q3 2021

    26                                                                      Faron Pharmaceuticals | Non-Confidential Information
HIBISCUS: A Phase 2/3 Co-funded by the Department of Defence
                      Supporting Hospitalised COVID-19 Patients to prevent ARDS and admission to the ICU
    Phase 2                                                                                     Phase 3
                                                                         Interim Analysis
                                                                             Traumakine
                                                                             better than                Adjust
                                                                           dexamethasone               powering
                                                                                                     according to
                                                                                                    interim results
                             Require         No
                                                                                                     and continue
                            Mechanical
                                                  Randomization              Interim Analysis         enrolment
                            Ventilation                                       at 70 Patients
                                ?
                                                       1:1
  COVID-19 patients                                Traumakine:
                                    Yes
needing hospitalization                           Dexamethasone
  and supplemental        Patient requires
       oxygen
                                                                              Stop the trial
                           steroids and is                                     for futility
                           excluded from
                              the trial

    The HIBISCUS Trial in the US:                       Primary end-point: Clinical Status at D14                                                                Fueillet et al. 2021
    An RCT, which aims to prove the superiority         Secondary end-points: Mortality at D28, ICUfree days at D28, Ventilation free Days
    of Traumakine against current standard of
    care (dexamethasone) when given early in            Size of Phase II: 140 patients
    hospitalized COVID-19 patients who do not           The use of steroids concomitantly is not allowed, but steroids can be used after IFN beta
    yet require mechanical ventilation
                                                        The first COVID trial to assess the sequenced use of two immunomodulatory agents (IFN beta & steroids)

        27 | 26 August 2021                                   Faron Pharmaceuticals | Non-Confidential Information
Corporate Highlights

| Investor Presentation
                            Faron Pharmaceuticals | Non-Confidential Information
A push towards approval

     1   Single agent activity in multiple solid tumors which are refractory to standard of care

         2                 We see a significant clinical benefit in an all comers setting

               3           HCC 1st line recent SOC with 75% refractory to combo treatment

               4        2nd Line Melanoma is forecast to be 1 Bn by 2026 from 20,000 patients

                          3rd Line Gastric is likely to have a CAGR of 600% in Western Markets
               5
                                            over the next 5 years with 22% ORR

                             Cholangiocarcinoma currently has a limited market size
         6
                                      due to no innovative drug approval

             CPIs have been approved with similar sized trials (Approx. n. 100-200 patients)
     7
                                      with low ORR (10-20%)
29                                Faron Pharmaceuticals | Non-Confidential Information
Multiple Near-Term Catalysts For Bexmarilimab

                             Discovery of Soluble CLEVER
                             CMC Commercial Scale Preparation
                             Topline data from MATINS Phase 1
                             Dramatic Survival Benefit was seen in responding patients
                             Selection of Expansion Cohorts (Gastric, Melanoma and Cholangiocarcinoma)
                             Key Intellectual Property (Confirmation of Matter) Awarded
                             Major Publication of Phase 1 Data in Clinical Cancer Research
                             Additional data release on MATINS solid tumors in Q3 ’21
                             Confirmation of final dosage and frequency for pivotal expansion
                             FDA Meeting for pivotal expansion
                             Pivotal cohorts to begin recruitment in H1 ’22
                             First-patient-in for neo-adjuvant (RENACOL) study in Q4’21
                             First-patient-in for hematological malignancies in Q4’21
                               Phase 1 data in Q3 ’22
                             Investigator Initiated trials to begin
                               Anti-PD-1 combination
30 | 26 August 2021                Faron Pharmaceuticals | Non-Confidential Information
And Across Entire Pipeline

                         CMC Commercial Scale Preparation
                         HIBISCUS first patient dosed
 Traumakine                 Interim analysis
                         Poster Presentation at Military Health System Research Symposium
                         REMAP-CAP Interim Readout
                         Organ protection data release with the DoD

                         Ongoing pre-clinical studies with humanized AOC3 mice and
                          with ex vivo human cells
 Haematokine
                         Clinical Development plan to be announced
                         Anticipated IND submission in 2022

31 | 26 August 2021            Faron Pharmaceuticals | Non-Confidential Information
Thank you

| Investor Presentation
                          Faron Pharmaceuticals | Non-Confidential Information
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