Obseva Corporate Deck – February 2021

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Obseva Corporate Deck – February 2021 Focused on unmet needs in women’s reproductive health February 2021 Disclaimer Matters discussed in this presentation may constitute forward-looking statements. We expressly disclaim any obligation to update or revise the information herein, The forward-looking statements contained in this presentation reflect our views as of including the forward-looking statements, except as required by law. Please also the date of this presentation about future events and are subject to risks, note that this presentation does not constitute an offer to sell or a solicitation of an uncertainties, assumptions, and changes in circumstances that may cause our actual offer to buy any securities. results, performance, or achievements to differ significantly from those expressed or This presentation concerns products that are under clinical investigation and which implied in any forward-looking statement. Although we believe that the expectations have not yet been approved for marketing by the US Food and Drug Administration. reflected in the forward-looking statements are reasonable, we cannot guarantee It is currently limited by federal law to investigational use, and no representation is future events, results, performance, or achievements. Some of the key factors that made as to its safety or effectiveness for the purposes for which it is being could cause actual results to differ from our expectations include our plans to develop investigated. The trademarks included herein are the property of the owners thereof and potentially commercialize our product candidates; our planned clinical trials and and are used for reference purposes only. Such use should not be construed as an preclinical studies for our product candidates; the timing of and our ability to obtain endorsement of such products. and maintain regulatory approvals for our product candidates; the extent of clinical trials potentially required for our product candidates; the clinical utility and market This presentation also contains estimates and other statistical data made by acceptance of our product candidates; our plans and development of any new independent parties and by us relating to market size and growth and other data indications for our product candidates; our commercialization, marketing and about our industry. This data involves a number of assumptions and limitations, and manufacturing capabilities and strategy; our intellectual property position; and our you are cautioned not to give undue weight to such estimates. In addition, ability to identify and in-license additional product candidates. For further information projections, assumptions and estimates of our future performance and the future regarding these risks, uncertainties and other factors that could cause our actual performance of the markets in which we operate are necessarily subject to a high results to differ from our expectations, you should read the risk factors set forth in our degree of uncertainty and risk. Annual Report on Form 20-F for the year ended December 31, 2019 filed with the SEC on March 5, 2020 and the risk factors disclosed in the Report on Form 6-K filed with the SEC on November 5, 2020, and our other filings we make with the Securities and Exchange Commission from time to time. 2 About ObsEva ObsEva (NASDAQ: OBSV and SIX: OBSN) is a clinical-stage biopharmaceutical company developing and commercializing novel therapies to improve women’s reproductive health. Through strategic in-licensing and disciplined drug development, ObsEva has established a late-stage clinical pipeline with development programs focused on treating endometriosis, uterine fibroids and preterm labor. • Founded in 2012 • Locations: Geneva, Switzerland and Boston, MA • Employees: 46 total EU and US • Listings: NASDAQ (OBSV) and SIX (OBSN) • Collaborations with Kissei, Yuyuan Bioscience, Merck Serono 3 Seasoned leadership team Elizabeth Garner MD, Fabien de Ladonchamps Jean-Pierre Wim Souverijns, PhD Brian O’Callaghan David Renas MPH Chief Gotteland, PhD Chief Commercial Chief Executive Officer Chief Financial Officer Chief Medical Officer Administrative Officer Chief Scientific Officer Officer 4 Board of Directors Barbara Duncan Frank Verwiel, MD Ernest Loumaye, Annette Clancy, BSc James I. Healy, MD, Rafaèle Tordjman, Jacky Vonderscher, Audit Committee Ed Mathers Chairperson MD, PhD (Hons) PhD MD, PhD PhD Chair 5 Investor highlights Pursuing promising large indications for serious conditions that compromise women's reproductive 1 health and beyond, with the potential to extend into other indications including prostate cancer Ebopiprant, the only known product in development for preterm labor, has positive Phase 2a data 2 that support a Phase 2b dose ranging study Yselty® has potential best in class efficacy, a favorable tolerability profile, and unique flexible dosing 3 options 4 Business model built on strong global partnerships and collaborations 5 Seasoned leadership team with a track record for success 6 Product overview YSELTY® EBOPIPRANT NOLASIBAN (LINZAGOLIX) (OBE022) Potential to relieve symptoms Potential to delay preterm Potential to improve live birth of heavy menstrual bleeding birth to improve newborn rate following IVF & embryo due to uterine fibroids and health and reduce medical transfer pain associated with costs endometriosis 7 Multiple development programs drive value Phase 1 Phase 2 Phase 3 Next Milestones Uterine Fibroids – Ph3 PRIMROSE 2 (EU & US) NDA submission (Q2:21) YSELTY® MAA for uterine fibroids expected approval Uterine Fibroids – Ph3 PRIMROSE 1 (US) (LINZAGOLIX) (Q4:21) Oral GnRH receptor antagonist EDELWEISS 3: Primary endpoint readout Endometriosis – Ph3 EDELWEISS 3 (EU & US) expected (Q4:21) EBOPIPRANT Initiation of Phase 2b dose ranging study Preterm Labor – Ph2b (EU & Asia) Oral PGF2α (Q4:21) receptor antagonist NOLASIBAN In development, partnership with Yuyuan IVF – Ph1/2 (China) Oral oxytocin BioScience Technology (PRC) receptor antagonist 8 EBOPIPRANT Potential To Delay Preterm Birth To Improve Newborn Health And Reduce Medical Costs Preterm birth is delivery before 37 weeks of pregnancy Life altering & costly $26B/yr >1 1million US economic burden In 10 babies are born preterm related preterm deaths in 2015 WW1 LEADING Preterm birth, a costly burden per baby cause of death in children US infant medical costs under age 5 $16.9B+ average cost per US survivor Babies surviving early birth $195K+ infant born 24-26 weeks face greater likelihood of lifelong disabilities average US cost for a preterm $50K infant WHO ‘Born Too Soon: The Global Action Report on Preterm Birth’ (2012); Kissin et al. NEJM, 2014 Behrman et al., National Academies Press, 2007 10 1WHO: 15 million babies born preterm each year worldwide, and number is rising. Ebopiprant is designed to treat preterm labor (PTL) Treating Preterm Labor Preventing Preterm Labor No FDA–approved PTL treatment available in US Makena approved for prevention of PTL in women with history of Current treatment in US includes off-label use of non- preterm birth selective prostaglandin (COX) inhibitors, Indomethacin, calcium Drug(s) channel blocker, beta-mimetics; all are associated with safety Not approved for treatment of PTL issues that limit use Potential withdrawal from US Atosiban (oxytocin receptor antagonist) approved in market after failed confirmatory EU/some Asian countries trial Use in setting of active preterm labor and threatened Use starts between 16 and 20 Use premature delivery weeks of pregnancy 11 Ebopiprant: an advancement in treatment of preterm labor Orally active, selective prostaglandin F2α (PGF2α) receptor antagonist ebopiprant Potential to treat preterm labor Selectively blocks with improved safety over non- selective COX *inhibitors the PGF22α receptor (NSAIDS) *COX: cyclooxygenase 12 Ebopiprant is designed to delay delivery by at least 48 hours Short-term prolongation of pregnancy (at least 48 hours) provides a critical window for impact on neonatal outcomes: • Allows full effect of corticosteroids on neonatal lung maturity ‒ Prematurity associated with respiratory complications due to insufficient lung maturation ‒ Corticosteroids used to speed up maturation process ‒ Maximum effect occurs ~48+ hours after administration • Allows patient transfer to centers with NICU* *NICU=neonatal intensive care unit 13 Ebopiprant Phase 2a PROLONG study Dosing period and FU visit Maternal and neonatal FU Infant follow-up - Visits at site - - Site visits or medical records - - Non-interventional, no site visits - End of Screening treatment Follow-up and day 1 visit visit D1 D2 D3 D7 D14 Delivery Delivery Term# Term# Term# +28 D +6 M +12 M +24 M ≤24h ebopiprant or placebo # Expected Term Atosiban Study design: Endpoints: Hospitalization • Double-blind, randomized • Incidence of delivery within 48 hours and 7 days of treatment • Atosiban + Ebopiprant vs • Time to delivery and delivery prior to 37 weeks of gestation • Atosiban + Placebo • Maternal, fetal, neonatal safety 14 Ebopiprant Phase 2a PROLONG study Demographics and baseline characteristics Atosiban + Placebo Atosiban + Ebopiprant n=55 n=58 Mean age – years (SD) 29.6 (5.1) 29.7 (5.7) Race White – n (%) 39 (70.9%) 42 (72.4%) Asian – n (%) 16 (29.1%) 14 (24.1%) Mean (SD) gestational age – weeks 29 (3.0) 30.2 (2.6) 24 to 30 weeks – n (%) 23 (41.8%) 25 (43.1%) 30 to 34 weeks – n (%) 32 (58.2%) 33 (56.9%) Singleton – n (%) 41 (74.5%) 42 (72.4%) Twin – n (%) 14 (25.5%) 16 (27.6%) 15 Overall delivery rate within 48 hours reduced by >40% Percentage of women delivering within
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