Topical LOX Inhibitor  2 Compounds Phase 2 Ready in 2020

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Topical LOX Inhibitor  2 Compounds Phase 2 Ready in 2020 Investor Presentation Gary Phillips CEO 26 July 2019 For personal use only 1 Forward looking statement This document contains forward-looking statements, including statements concerning Pharmaxis’ future financial position, plans, and the potential of its products and product candidates, which are based on information and assumptions available to Pharmaxis as of the date of this document. Actual results, performance or achievements could be significantly different from those expressed in, or implied by, these forward-looking statements. All statements, other than statements of historical facts, are forward-looking statements. These forward-looking statements are not guarantees or predictions of future results, levels of performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results to differ materially from those expressed in the statements contained in this document. For example, despite our efforts there is no certainty that we will be successful in partnering our LOXL2 program or any of the other products in our pipeline on commercially acceptable terms, in a timely fashion or at all. Except as required by law we undertake no obligation to update these forward-looking statements as a result of new information, future events or otherwise. For personal use only 2 A business model generating a valuable pipeline in fibrotic and inflammatory diseases • Anti fibrosis / oncology drug successfully cleared initial Clinical phase 1 study trials in high • Proof of concept trials in myelofibrosis and / or profile pancreatic cancer expected in diseases 2020 Highly productive drug • Leverage small molecule expertise discovery engine and amine oxidase chemistry Significant future platform • 4 in house compounds through to cash flows from phase 1 trials in 5 years partnering deals • Topical scar revision drug in final • IPF / NASH anti fibrotic drug in pre-clinical GLP tox studies before commercial partnering process patient proof of concept study • Partnered drug with potential for 2020 $600m+ development milestones For personal use only nears end of phase 2a in NASH and diabetic retinopathy 3 Experienced senior management team Significant experience in drug development, commercialisation and partnering Gary Phillips – CEO Wolfgang Jarolimek – Drug Discovery . more than 30 years of operational management . more than 20 years’ experience in pharmaceutical drug experience in the pharmaceutical and healthcare industry discovery and published more than 30 peer reviewed in Europe, Asia and Australia articles . joined Pharmaxis in 2003 and was appointed Chief . previously Director of Assay Development and Compound Executive Officer in March 2013 at which time he was Profiling at the GlaxoSmithKline Centre of Excellence in Chief Operating Officer Drug Discovery in Verona, Italy . previously held country and regional management roles . spent 8 years as post-doc at the Max-Plank Institute in at Novartis – Hungary, Asia Pacific and Australia Munich, Germany; Baylor College of Medicine, Houston, Texas; Rammelkamp Centre, Cleveland Ohio; and University of Heidelberg, Germany David McGarvey – CFO Kristen Morgan – Alliance . more than 30 years’ experience building Australian based Management companies from inception to globally successful . more than 20 years’ experience in the pharmaceutical enterprises industry having previously held a senior role in medical . joined Pharmaxis as Chief Financial Officer and Company affairs at Sanofi-Aventis, and a commercial sales role at Secretary in December 2002 GlaxoSmithKline . previously Chief Financial Officer of the Filtration and . responsibility for alliance management and medical and Separations Division of US Filter (1998-2002), and Memtec regulatory affairs Limited (1985-1998) . commenced career at PricewaterhouseCoopers Non Executive Directors Brett Charlton - Medical . Malcolm McComas – Chair . Will Delaat . more than 25 years experience in clinical trial design and – former investment banker – former CEO of Merck Australia management – former MD Citi Group – former chair of Medicines Australia . author of more than 80 scientific papers . Kathleen Metters . Edward Rayner . founding Medical Director of the National Health Sciences – former head of worldwide basic – over 20 years’ experience in global Centre research at Merck capital markets For personal use only . previously held various positions with the Australian National University, Stanford University, the Baxter – former CEO of biopharmaceutical Centre for Medical Research, Royal Melbourne Hospital, company Lycera Corp and the Walter and Eliza Hall Institute 4 Read more on the Pharmaxis website A broad pipeline with multiple opportunities Lead Pre Indication Discovery Phase I Phase II Phase III Marketed Optimisation Clinical Commercial FDA expected to complete review of NDA in Q1 2020. Subject to FDA approval, US partner Chiesi will launch Bronchitol® US Cystic fibrosis commercially in the US in 2020. Bronchitol is currently sold in the UK, Germany, Italy, Greece & Nordic by Chiesi; in certain other European Direct & Bronchitol RoW Cystic fibrosis countries and Russia by specialist distributors; and by PXS in Australia and smaller countries. Dist Asthma Aridol is approved and sold in US, Australia, South Korea and a number of European countries. Canadian Direct & Aridol® diagnosis approval received June 2019. Dist Clinical Sold to Boehringer Ingelheim in May 2015. Phase 2a trial completed June 2019 – to AOC3 NASH report Q4 CY 2019. PXS has received payments of A$68m to date. Diabetic Boehringer commenced dosing a Phase 2a trial in January 2018. PXS received A$15m AOC3 retinopathy to date. NASH, fibrosis - LOXL-2 liver, lung, Phase 1 trials in 2 compounds complete. Commercial partnering process kidney, heart commenced. Anti-fibrotic: Completed phase 1a SAD. To complete phase 1b MAD H2 CY 2019 Progress in last 12 months Systemic LOX cancer Preclinical For personal use only Anti-fibrotic: Effective in scarring models. Commence phase 1 H1 CY 2020 Topical LOX scarring AOC3: amine oxidase copper containing type 3 inhibitor; LOXL-2 (lysyl oxidase like 2) inhibitor (also inhibits LOX-3); 5 LOX: pan (all) lysyl oxidase inhibitor; Systemic: oral drug; Topical: drug to be applied directly to the skin. AOC3: Boehringer Ingelheim deal Deal structure illustrates value generating potential of Pharmaxis business model PLUS earn-out payments First indication (NASH) on annual net sales • Tiered percentages Commencement of Commencement of Filing, regulatory & increasing from high phase 2 phase 3 pricing approvals single digits • Plus sales milestones €18m €37m €140m Upfront Total Potential Milestones (2015) €419 €29m Second indication (diabetic retinopathy) (~A$625m) Commencement of Commencement of Filing, regulatory & phase 2 phase 3 pricing approvals €10m €25m €160m For personal use only • €57m (A$83m) already received • No further investment required from Pharmaxis • Commercial go/no go for phase 2b in NASH expected Q4 2019 6 LOXL2 inhibition program in partnering process for NASH, IPF & other high value fibrotic diseases . LOXL2 and fibrosis: Excessive production and linking of LOX family of enzymes catalyse the final step in the collagen fibres results in fibrosis fibrotic disease process Clear association of increased levels of serum LOXL2 with disease progression in IPF, NASH and cardiac fibrosis Fibroblast cells in Fibroblast cells in . Competitive profile: humanhuman tissue tissue Novel target and mechanism of action LOXL2 (from fibroblasts) Once daily oral drug Best in class drug with high level inhibition of LOXL2 enzyme for 24 hours from one dose in phase 1 studies 13 week tox studies (2 species) for both compounds Collagen fibres Excessive ‘cross-linking’ of collagen fibres, stiffens tissue, Place of LOXL2 at the end of the fibrotic cascade causing fibrosis provides opportunity to treat various fibrotic diseases Potential indications / market size: and use in combination with other Pharma pipeline NASH / Liver Fibrosis; $35b1 Significant drugs Pulmonary fibrosis (IPF); $3.5b2 For personal use only . Commercial partnering process underway Kidney fibrosis market Cardiac fibrosis opportunity Data room available (under CDA) Process expected to be concluded by end 2019 1. 7 Deutsche Bank market forecast for 2025 2. iHealthcareanalyst. Inc market forecast for 2021 Global leaders in amine oxidase enzyme inhibition Two new drugs expected to start proof of efficacy studies in 2020 Targeting multiple different pathways Systemic LOX Inhibitor Chronic Inflammation . Completed phase 1a – excellent PK/PD profile . Predicted 24 hour inhibition of LOX with single daily dose . Two indications with strong academic and clinical advocacy; Myelofibrosis and Pancreatic Cancer . Phase 1b to complete by Q4 2019 . Proof of efficacy studies to commence in H1 2020 1 2 0 1 0 0 y 8 0 P la c e b o t i v i t 3 0 0 m g 6 0 c a MPO 2 0 0 m g AOC3 % 4 0 1 0 0 m g 2 0 5 0 m g LOXL2 LOX 0 0 4 8 1 2 1 6 2 0 2 4 t i m e [ h r s ] . Highly productive; Dose dependent reduction in LOX activity in plasma 1 compound partnered (AOC3) 2 compounds partner ready (LOXL2) Topical LOX Inhibitor 2 compounds phase 2 ready in 2020 . Compelling pre clinical efficacy in skin fibrosis / scarring (Systemic and topical LOX) models For personal use only . R&D tax credit funds a significant share of . Limited competition and strong clinical advocacy expenditure (43.5% of eligible expenditure .
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