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Corporate Presentation | September 2020 Forward-Looking Statements Corporate Presentation | September 2020 Forward-Looking Statements These materials have been prepared by Ichnos Sciences which the Company will operate in the future and must be not been independently verified and is subject to verification, (“Ichnos” or “the Company”) solely for informational purposes read together with such assumptions. Predictions, projections, completion, and change without notice. The information and are strictly confidential and may not be taken away, or forecasts of the economy or economic trends of the contained in these materials is current as of the date hereof reproduced, or redistributed to any other person. This markets are not necessarily indicative of the future or likely and is subject to change without notice, and its accuracy is not presentation is on drugs in clinical development and includes performance of the Company, and the forecast financial guaranteed. Accordingly, no representation or warranty, information from experiments and information that might be performance of the Company is not guaranteed. The express or implied, is made or given by or on behalf of the considered forward-looking. While these forward-looking Company does not undertake any obligation to update these Company, or any of its directors and affiliates or any other statements represent our current judgment based on current forward-looking statements to reflect events, circumstances, person, as to, and no reliance should be placed for any information, please be aware they are subject to risks and or changes in expectations after the date hereof or to reflect purposes whatsoever on, the fairness, accuracy, uncertainties as development progresses that could cause the occurrence of subsequent events. No representations or completeness or correctness of, or any errors or omissions in, actual results to differ materially. These materials also contain warranties are made as to the accuracy or reasonableness of the information contained herein or any other information, material, non-public information. In addition, these materials such assumptions or projections or the forward-looking whether written or oral, transmitted or made available to you contain forward-looking statements that are, by their nature, statements based thereon. herewith. The Company name and all related names, logos, subject to significant risks and uncertainties. In these product and service names and designs included in these materials, the words “will,” “anticipate,” “expect,” “plan,” This presentation does not constitute or form part of, and materials are trademarks of the Company or its affiliates or “potential,” and similar expressions identify forward-looking should not be construed as, directly or indirectly, any offer or licensors. All other names, logos, product and service names, statements. Such forward-looking statements necessarily intimation or inducement to sell or issue or an offer or any and designs included in these materials are the trademarks of involve known and unknown risks and uncertainties, which solicitation of any offer, to purchase or sell any securities, as their respective owners. The distribution of these materials in may cause actual performance and financial results in future defined. The information contained here is not a prospectus, certain jurisdictions may be restricted or affected by the laws periods to differ materially from any projections of future statement in lieu of prospectus, advertisement, or any other of such jurisdictions. To the fullest extent permitted by performance or result expressed or implied by such forward- offer. It is not the Company’s intention to provide, and you applicable law, the Company disclaims any responsibility or looking statements. Such forward-looking statements are may not rely on these materials as providing, a complete or liability for the violations of any such restrictions by any based on numerous assumptions regarding the Company’s comprehensive analysis of the Company’s financial position or person. present and future business strategies and the environment in prospects. The information contained in these materials has 2 Ichnos Sciences is a Clinical Stage Biotechnology Company at the Forefront of Innovation in Oncology • Global footprint: U.S. and Switzerland, with over 200 colleagues across three sites Fully Integrated • Wholly-owned subsidiary of Glenmark, with plans to separate in the future Biotech • Accomplished management team with proven track record in oncology drug discovery, development and commercialization • Core capabilities in biologics (discovery, antibody engineering, CMC, clinical development) • Focus on Immuno-oncology: Strategic • Multispecific immune and non-immune cell engagers antibodies Approach • Disease-centric • Strategic efforts in small molecules through service agreement with Glenmark Pharmaceuticals Ltd • Proprietary BEAT® antibody engineering platform represents the discovery engine to sustain innovation and drive long-term growth: Novel BEAT® • Next-generation multispecific immune and non-immune cell engager antibodies that can engage multiple targets Platform simultaneously • Broad oncology pipeline with six programs, including two clinical-stage assets in multiple myeloma (ISB 1342) and HER2+ breast Deep Pipeline cancer (ISB 1302) • Beyond oncology, pipeline of potential first-in-class therapeutics addressing autoimmune disease *BEAT® : Bispecific Engagement by Antibodies based on the T cell Receptor ICHNOS SCIENCES | DO NOT COPY OR DISTRIBUTE 3 Ichnos: Highly Experienced Biotech Leadership Team Management ALESSANDRO RIVA, M.D. PATRICK FLANIGAN, KALA SUBRAMANIAN,Ph.D. GABRIELA GRUIA, M.D. M. LAMINE MBOW, Ph.D. Chief Executive Officer III Chief of Staff, Head of Chief Development Officer Head of New Biologics Entity Strategic & Business Chief Financial Officer Discovery Development & Licensing NEELUFAR ROBERTO GIOVANNINI, MARTIN WILSON ISABEL CARMONA GRACE MAGUIRE, MBA MOZAFFARIAN,M.D.,Ph.D. Ph.D. General Counsel Chief Human Resources Officer Head of Communications Head of Clinical Sciences, Head of CMC Development and Corporate Affairs Autoimmune Disease, and Pain Board of Directors Glenn Saldanha Bernard Munos Dennis V S Mani Jayaram Marcela David Lubner Lawrence Chairman & Non-Executive Purcell Board Member & Philkana Maus, M.D., Non-Executive Olanoff, Managing Director Non-Executive Global CFO of GPL President & Ph.D. Director M.D., Ph.D. Director, Director Global CHRO of Non-Executive Non-Executive Glenmark GPL Director Director Pharmaceuticals Also a member of Board of Directors ICHNOS SCIENCES | DO NOT COPY OR DISTRIBUTE 4 Ichnos Is Advancing a Differentiated Pipeline with Potential First- and Best-in-Class Assets Candidate Target Preclinical Phase 1 Phase 2 Status Oncology ISB 1342 CD38 x CD3 BEAT® bispecific antibody Relapsed/Refractory Multiple Myeloma Phase 1 Enrolling ® Relapsed/Refractory ISB 1908 CD38 x CD3 BEAT bispecific antibody Multiple Myeloma IND Enabling Activity ISB 1909 BEAT® T-cell engager Undisclosed Discovery ® Hematologic ISB 1442 CD38 x CD47 BEAT bispecific antibody Malignancies IND Enabling Activity ISB 1302 HER2 x CD3 BEAT® bispecific antibody Metastatic HER2+ Breast Cancer Phase 1 Enrolling ISC XXX HPK1 inhibitor small molecule Undisclosed IND Enabling Activity Autoimmune Phase 2b fully enrolled ISB 830 OX40 antagonist monoclonal antibody Atopic Dermatitis Part 2 (high dose arm) data in AD end of 2020 Autoimmune ISB 880 IL-1RAP antagonist monoclonal antibody Disease IND Enabling Activity Pain 2H:2020: Start formulation study in healthy Diabetic Peripheral Neuropathy ISC 17536* TPRA1 antagonist small molecule volunteers Note: Assets that were previously identified as GBR and GRC are now identified as ISB (for biologics) and ISC (for small molecules), respectively. *During a Type C meeting with FDA in March 2020, agreement was reached regarding the nonclinical plan to enable a randomized, double-blind, placebo-controlled, Phase 2b, dose-range-finding study for painful DPN. These nonclinical studies are ongoing/planned, and a formulation study in healthy volunteers is expected to start in the second half of CY 2020. Ichnos Sciences will complete preclinical and clinical work required to start the Phase 2b study and then plans to out-license the compound. Denotes Potential Partnering Candidate ICHNOS SCIENCES | DO NOT COPY OR DISTRIBUTE 5 BEAT Platform Ichnos BEAT® Platform Positioned Among Most Innovative T-Cell Engager Formats in Development 1st Generation 2nd GenerationGeneration 3rd Generation Fragment based Formats Fab-Fragment based Formats Fab-Fab based Formats Genetic fusion of a Fab and an antibody Technology for light chain pairing (random Genetic fusion of 2 antibody fragments- scFvs, fragment- scFv or dAb, with Fc – requires heavy pairing of light chains upon co-transfection) with or without Fc chain pairing technology added to heavy chain pairing technology, with Fc • No Fc Region: Short half life requiring • Mixed format approach with longer half • Natural antibody format, longer half continuous infusion life than the fragment based format life than the fragment-based format without Fc without Fc • Fc Region (silenced): Longer half life • Common light chain technology: allowing for weekly dosing, requires • Improved druggability and developability Enhanced druggability and heavy chain pairing technology o • Rapid engineering developability (random pairing of heavy chains upon Best suited for multispecific co-transfection) • Not optimal for multispecific antibodies o antibodies • Limited target
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