SPARCNSE13 October 2022

Sun Pharma Advanced Research Company Limited has informed the Exchange about Investor Presentation

Sun Pharma Advanced Research Company Limited

SPARC/Sec/SE/2022-23/060

October 13, 2022

National Stock Exchange of India Ltd., Exchange Plaza, 5th Floor, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051.

BSE Limited, Market Operations Dept. P. J. Towers, Dalal Street, Mumbai - 400 001.

Ref: Scrip Code: NSE: SPARC; BSE: 532872

Dear Sir/Madam,

Sub: Investor Presentation: Update on Clinical Programs and R&D Pipeline

to Regulation 30 of

Pursuant the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and further to our letter dated September 29, 2022 bearing reference no. SPARC/Sec/SE/2022-23/056, we enclose herewith a copy of the Investor Presentation on the above mentioned subject, which is self-explanatory.

This is for your information and dissemination.

Yours faithfully,

For Sun Pharma Advanced Research Company Ltd.

Dinesh Lahoti Company Secretary and Compliance Officer ICSI Membership No. A22471

Encl: As above

Update on Clinical Programs and R&D Pipeline

13th October 2022

BSE:532872 NSE: SPARC BLOOMBERG: SPADV@IN REUTERS: SPRC.BO CIN:L73100GJ2006PLC047837

Disclaimer

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The information contained in these materials has not been independently verified. None of the Company, its Directors, Promoters or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company undertakes no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice. This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefor. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations. All brand names and trademarks are the property of respective owners.

2

SPARC © 2022 Agenda

01

02

Overview Anil Raghavan

03

Biologics Nitin Damle

04

05

Financial Update Chetan Rajpara

Clinical Programs Siu-Long Yao

Preclinical NCE Program Vikram Ramanathan

3

SPARC © 2022 Built a robust R&D organization

Innovating from India for the world, SPARC offers operating model validation

Successful track record of development and commercialization

Clinical pipeline targeting high-value opportunities

Through an innovation-focused R&D platform

2

3

10+

USFDA approved drugs (XelprosTM, ElepsiaTM)

NCEs targeting 6 clinical indications in development

Preclinical programs in R&D pipeline covering 3 therapy areas

2

NDAs submitted to USFDA in FY23

1

NDA targeted for submission in H2 FY23

USD 20Bn+

Combined peak sales potential for NCEs currently under clinical development

2

IND filings targeted by FY24

11

Partnerships with academic centers and commercial entities1

4

1. Partners include JHU, UCSF, Wash U at St Louis, University of Michigan, Scripps Research, Bioprojet, CMS, Sun Pharma, Tripoint Therapeutics, Biomodifying, and Visiox | USFDA = US Food & Drug Administration | NDA = New Drug Application | NCE = New Chemical Entity | IND = Investigational New Drug

SPARC © 2022 Attractive portfolio built using a cost-efficient structure

Over 50% funded through non-dilutive revenue generated

2012

2016

2017

2021

Promoters’ share

Others

26%

25%

7%

46%

74%

75%

93%

54%

Rights issue 1 INR 198 cr / USD 41 mn

Rights issue 2 INR 250 cr / USD 38 mn

Preferential issue of convertible warrants 1 INR 500 cr / USD 75 mn

Preferential issue of convertible warrants 2 INR 1112 cr / USD 148 mn

USD 523 mn

USD 277 mn

Total investment till FY22

Revenues re-invested till FY22

5

SPARC © 2022 Our strategy to address unmet clinical need has transformed

With a focus on novel biology as opposed to fast follower approach

Asset Distribution by Class

Asset Distribution by type

57%

14%

7%

43%

79%

FIC

BIC

NCE

Biologic

Complex Modalities

FIC – First in Class | BIC – Best in Class

Increasing proportion of

programs focusing on novel biology (potential first-in- class)

Investments in new modalities/complex platforms is now translating to tangible programs

Continued development of best-in-class assets for validated targets

Collaboration with external innovators as a key tenet of strategy to access early science

6

SPARC © 2022 First-in-class innovation in three therapy areas

With 70% of the preclinical pipeline targeting novel hypotheses

Areas of interest

Lead FIC Program

Neurology

Oncology

Immunology

Restoring cellular function in the CNS to modify disease- course by: • Modulating oxidative stress

response Improving autophagic flux

• • Preventing misfolded protein aggregation

Modality-agnostic, tumor-targeted strategies to address indications that have limited treatment options

Pursuing novel

targets in immune cells and inflamed tissues to modulate inflammatory conditions

SCC-138

SBO-154

SCD-153

Internally developed NCE - vodobatinib

Selective c-ABL

inhibitor with good brain penetration and superior safety for Parkinson’s Disease (PD)

Currently in a Phase 2

clinical study

In-licensed anti-

MUC-1 antibodies from Biomodifying LLC

Developed antibody- drug conjugate asset for solid tumors

Currently in IND-

enabling preclinical development

Collaboration with

Johns Hopkins University

NCE targeting a novel pathway to address alopecia areata

Currently in IND-

enabling preclinical development

7

CNS = Central Nervous System | NCE = New Chemical Entity | IND = Investigational New Drug

SPARC © 2022 Expected cash inflow from warrants conversion

Cash runway till FY24, with potential extension from milestones and royalties

H2 FY23

H1 FY24

H2 FY24

Cash inflow from warrants conversion by Dec’22

USD 93 mn

Expected cash burn

USD 30 mn

USD 30 mn

USD 30 mn

Cash runway excluding milestones and royalties

8

SPARC © 2022 Sezaby*: benzyl alcohol-free phenobarbital injection for neonatal seizures

Currently marketed formulations

Sezaby

Classified under DESI products by USFDA; approved only for safety between 1938 and 1962

Contain benzyl alcohol as a preservative which has been associated with “Gasping Syndrome” in neonates and low-birth weight infants

Granted Orphan Drug Designation for treatment of neonatal seizures Upon approval will be eligible of Orphan Drug Exclusivity NDA submitted in 2022 USFDA granted priority review of NDA PDUFA goal date of Nov’22 SPARC under advance discussion with potential partners for licensing commercialization rights of Sezaby

Sezaby as a trade name is conditionally accepted by the USFDA

9

DESI = Drug Efficacy Study Implementation | USFDA = US Food & Drug Administration | NDA = New Drug Application | PDUFA = Prescription Drug User Fee Act

SPARC © 2022 Several high-yield assets graduating to next set of data events in the short term

Sharp execution focus to deliver key updates in the next 18-24 months

Licensing and commercialization of near-term assets

Continued progress of clinical NCEs

Early PoC for new platforms

Driving uptake of

and

Collaborate with Visiox Pharma for commercialization of PDP- 716 and SDN-037

Licensing of Sezaby to potential partner

Vodobatinib CML read out in FY24

IND filing for SCD-153 in FY23 and for SBO-154 in FY24

Vodobatinib PD PROSEEK Phase 2 readout in FY24

SCO-120 clinical PoC in FY24

In-licensing of preclinical assets

NCE = New Chemical Entity | PoC = Proof-of-Concept | CML = Chronic Myeloid Leukemia | IND = Investigational New Drug

10

SPARC © 2022 Pipeline overview & key upcoming milestones

Asset / Program

MoA

Indication

Discovery Preclinical

Phase 1

Phase 2

Phase 3/ Registration Study

Upcoming Catalyst

Partner

Vodobatinib (SCC-138)

c-ABL Inhibitor

Vodobatinib (SCO-088)

BCR-ABL Inhibitor

Parkinson’s Disease

Lewy Body Dementia1

Alzheimer’s Disease

Refractory CML

SC0-120

SB0-154

Selective ERα Receptor Degrader

Metastatic Breast Cancer

Anti-MUC-1 ADC

Multiple Tumors

Vibozilimod (SCD-044)

Selective S1PR1 agonist

SCD-153

Undisclosed

Psoriasis

Atopic Dermatitis

Alopecia Areata

PoC data from PROSEEK study in FY24

PoC data in FY24

Pivotal data in FY24

Phase 1 data in FY24

IND filing targeted in FY24

IND filing targeted in FY23

Preclinical Assets

10+ preclinical assets under development to ensure a robust pipeline for future growth

Neurology

Oncology

Immunology

1. Investigator Initiated Study | MoA = Mechanism of Action | ADC - Antibody-Drug Conjugate PoC = Proof of Concept | CML = Chronic Myeloid Leukemia | S1PR1 = Sphingosine-1- Phosphate Receptor 1 | ERα = estrogen receptor α | IND = Investigational New Drug

11

SPARC © 2022 Clinical Programs

Siu-Long Yao

Vodobatinib in CML (SCO-088)

A safer, last-line option for heavily pre-treated patients

Vodobatinib for CML (SCO-088)

Potent and selective inhibitor of BCR-ABL1

Healthy volunteer study

Patient studies

Clinical study design

Single Ascending Dose (SAD) and Food Effect studies in healthy volunteers (N = 40)

Multiple Ascending Dose (MAD) study in patients (N = 53)

Enrollment ongoing

Pivotal efficacy study in refractory patients

CP-CML N = 59

BP-CML N = 43

AP-CML N = 43

Single arm study, Ph+ CML patients

refractory and/or intolerant to ≥3 TKIs including ponatinib

Participating countries: USA, Belgium, France, Italy, Spain, Romania, Hungary, Singapore, UK, Korea

14

CP = chronic phase | AP = accelerated phase | BP = blast phase | Ph = Philadelphia chromosome | TKI = Tyrosine Kinase Inhibitor | CML = Chronic Myeloid Leukemia NCT02629692

SPARC © 2022 Vodobatinib (SCO-088) MAD study outcome

Major Cytogenetic Response (MCyR) rate more than doubles in CP-CML patients treated with vodobatinib

Cytogenetic Response

N=42

MCyR (29%)

Baseline

71

12

17

MCyR (67%)

Best Response

33

10

57

0

20

40

60

80

100

% patients

CyR = Cytogenetic response | MCyR = Major cytogenetic response | MCyR = PCyR + CCyR | Data presented at 2021 ASH Annual Meeting | Numbers rounded-off to nearest integer | CP-CML = Chronic Phase Chronic Myeloid Leukemia

No response

Partial CyR

Complete CyR

15

SPARC © 2022 Vodobatinib (SCO-088) MAD study outcome

Twenty-fold improvement in Major Molecular Response (MMR) rate in CP-CML patients treated with vodobatinib

Molecular Response

N=42

MMR (2.8%)

Baseline

98

0.00

2

MMR (43%)

Best Response

57

2

41

0

20

40

60

80

100

% patients

Major Molecular Response | Data presented at 2021 ASH Annual Meeting | Numbers rounded-off to nearest integer | CP-CML = Chronic Phase Chronic Myeloid Leukemia

No response

MMR maintained

MMR achieved

16

SPARC © 2022 Vodobatinib (SCO-088) MAD study outcome

Excellent efficacy and safety

Patients on study after:

1 year: 71.7% 2 years: 52.8% 3 years: 37.7%

Median duration on study = 23.9 months (range: 0.1 - 65.17 months)

Discontinued study drug

On treatment

0

10

20

30

40

50

60

70

Duration in months

17

Data cutoff: 1st September 2022

SPARC © 2022 Next steps

Additional data to be presented at upcoming clinical conferences: the 2022 ESH John Goldman Conference and the 2022 ASH Annual Meeting

Pivotal study readout in FY24

18

SPARC © 2022 Vodobatinib for Neurodegenerative diseases (SCC-138)

A potential first- in-class disease modifying therapy targeting c-Abl

c-Abl: a critical component of neurodegeneration

Substantiated by multiple research groups

Ubiquitous expression in nucleated cells

• Expressed in all parts of the CNS (brain and spinal column, and peripheral neuronal tissue)

Pivotal role in promoting

neurodegeneration

• Under oxidative stress, c-Abl is activated and phosphorylates a number of key substrates that bring about programmed death of oxidatively-stressed neurons

CNS = Central Nervous System

20

SPARC © 2022 Vodobatinib improved motor and cognitive function in the PFF-induced mouse model1

Vodobatinib at 45 mg/ kg improves PFF-induced movement disorder- related deficits in Turning Time and Descending Time in the Pole test

) c e S (

e m

i t g n n r u T

i

Vodobatinib treatment improves PFF-induced deficits in Grip Strength

)

m g (

e c r o f

s b m

i l

e r o F

Turning Time in Pole Test

Descending Time in Pole Test

.

3 4 0 0 0 > = p

p=>0.9999

.

9 9 9 9 0 > = p

1 1 1 0 0 = p

.

PBS+ Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

Grip Strength: Fore Limbs

8 4 5 3 0 = p

.

8 2 0 0 0 = p

.

3 0 7 5 0 = p

.

4 8 1 0 0 = p

.

20

15

10

5

0

250

200

150

100

50

0

p=>0.0001

p=>0.9999

5 0 2 0 0 = p

.

-

3 0 0 0 0 = p

.

PBS+ Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

Grip Strength: All Limbs

.

9 9 9 9 0 > = p

5 5 2 0 0 = p

.

3 8 3 1 0 = p

.

2 2 0 0 0 = p

.

) c e S (

e m

i

i t g n d n e c s e D

)

m g (

e c r o f

s b m

i l

l l

A

20

15

10

5

0

500

400

300

200

100

0

PBS+ Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

PBS+ Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

21

1. Study conducted at the Ted Dawson Lab, Johns Hopkins University | PBS = Phosphate-buffered saline | PFF = Preformed fibril

SPARC © 2022 Vodobatinib protects dopaminergic neurons in the AAV mutant α-synuclein (hA53T) rat model – dopamine transporter expression

1 2 1 - I T R I 5 2 1

l

a t a i r t S

c i f i c e p S

e u s s i t

m a r g / i C n g n d n B

i

i

1.0

NS

**

**

*

NS

0.8

0.6

0.4

0.2

0

Vodobatinib treatment protects

against dopaminergic neuronal loss measured by radiolabeled 125I labeled RTI-121 binding in the striatum

• Comparison of un-operated left

hemisphere (L) and operated right hemisphere (R, injected with & expressing the AAV) shows that 45 mg/kg dose provides protection of dopaminergic neurons

L

R

AAV EV

L

R

L

R

L

R

L

R

AAV hA53T α-synuclein

Vehicle

Vehicle

Vodobatinib 15mg/kg

Vodobatinib 30mg/kg

Vodobatinib 45mg/kg

AAV = Adeno Associated Virus | EV = Empty Vector

22

SPARC © 2022 Vodobatinib for PD (SCC-138)

Recruitment on track to achieve enrollment target in PROSEEK

Screening

Randomization

Placebo (N=168)

Vodobatinib 384mg (N=168)

Vodobatinib 192mg (N=168)

PART 1 Weeks 0 to 40

PART 2 Weeks 41 to 76

Vodobatinib 384mg

Vodobatinib 192mg

Patient continues into extension part of protocol

PROSEEK

77 sites across US, Europe and India functional; recruitment ongoing to complete enrollment in FY23

Over 70% patients randomized

(N=349)*

Extension study

Patients enrolled to establish long-

term safety and tolerability

*As of 14th Sept 2022 | PROSEEK = A Phase 2 Study In Early Parkinson’s Disease Patients Evaluating The Safety And Efficacy Of Abl Tyrosine Kinase Inhibition Using K0706 | K0706 = Vodobatinib PD (SCC-138) | NCT03655236

23

SPARC © 2022 Opportunities beyond PD: Lewy Body Dementia

Recruitment ongoing in an investigator-initiated clinical trial at Georgetown University

RANDOMIZATION

PLACEBO

(N=15)

VODOBATINIB

96mg (N=15)

VODOBATINIB

192mg (N=15)

Recruitment ongoing in a 12-week Phase 2 study

Safety and tolerability being evaluated as a

in collaboration with Georgetown University

primary outcome

50% patients randomized

Concentration of LBD-related plasma and CSF biomarkers form the set of secondary outcome measures

24

SPARC © 2022 Next steps

Parkinson’s Disease

Lewy-Body Dementia

Complete recruitment in PROSEEK

PROSEEK study readout in FY24

Complete recruitment by FY24 in the Georgetown University study

Study readout in FY24

25

SPARC © 2022 Vibozilimod (SCD-044) – A selective S1PR1 agonist

A safer alternative to JAK inhibitors

Vibozilimod (SCD-044) for Psoriasis and Atopic Dermatitis

An opportunity to improve oral standard-of-care in dermatology

Vibozilimod is a Best-in-Class S1PR1 modulator with excellent safety

S1PR1 Modulator Landscape

Vibozilimod (SCD-044)

Fingolimod is the first-in-class S1PR agonist

approved, but not suitable for some indications because of safety concerns

Developed in collaboration with a French

biotech company, Bioprojet. SPARC in-licensed Bioprojet’s share of IP in 2019

Multiple S1PR1 modulators are approved

Highly-selective for S1PR1 over S1PR2 and

(siponimod and ozanimod) for non-dermatology indications; vibozilimod has opportunity to lead the field in dermatology

Recent safety concerns related to JAK inhibitors

increase the significance of S1PR1 agonists as a ‘class alternative’ in several autoimmune disorders, particularly in dermatology

S1PR3, which can be associated with serious side effects

Established preclinical and early clinical validation

Currently targeting atopic dermatitis, psoriasis

and other autoimmune disorders

Potential synergy with other mechanisms in IBD

– like IL-23 blockade

S1PR1 = Sphingosine-1-Phosphate Receptor-1 | JAK = Janus Kinase | IP = Intellecual Property | IL-23 = Interleukin-23 | IBD = Inflammatory Bowel Disease

27

SPARC © 2022 Vibozilimod (SCD-044) for Psoriasis

Phase 2 study design

Screening 4 Weeks

Part I:16 Weeks

Part II:16-28 Weeks

Part III:28-52 Weeks

Follow-up Week 56

Placebo

Vibozilimod Intermediate Dose

s t n e m

s s e s s A g n n e e r c S

i

Vibozilimod Low Dose

Vibozilimod Intermediate Dose

Vibozilimod High Dose

PASI50 response Continue to Vibozilimod Low Dose

<PASI50 response Switch to Vibozilimod High Dose

Vibozilimod High Dose

Continue the assigned treatment

< PASI75 response at week 28

Discontinue

PASI75 response at week 28

Continue on existing regimen

Primary endpoint – Proportion of patients with PASI75 response at week 16

240 patients across

three dose levels and placebo. Currently in early stage ramp-up

Study now open in the US. Expected to expand to Latin America and Europe to accelerate in the coming months

p u - w o

l l

o F

e e r f

t n e m t a e r T

PASI = Psoriasis Area and Severity Index | NCT04566666 | (SCD-044-19-14, Version 1, September 23, 2020)

28

SPARC © 2022 Vibozilimod (SCD-044) for Atopic Dermatitis

Phase 2 study design

Screening 3 Weeks

Part I:16 Weeks

Part II:16-32 Weeks

Follow-up 4 Weeks

Placebo

Vibozilimod Intermediate Dose

Vibozilimod High Dose

Vibozilimod Low Dose

Vibozilimod Intermediate Dose

Vibozilimod High Dose

s t n e m

s s e s s A g n n e e r c S

i

p u - w o

l l

o F

e e r f

t n e m t a e r T

Primary endpoint – Proportion of patients with EASI-75 response at week 16

240 Patients across three dose levels and placebo. Currently in early stage ramp-up

Study now open in the US. Expected to expand to Latin America and Europe to accelerate in the coming months

EASI = Eczema Area and Severity Index | NCT04684485 | (SCD-044-19-14, Version 1, November 9, 2020)

29

SPARC © 2022 SCO-120 for HR+/ HER2- MBC

An oral SERD with brain penetration

Current treatment paradigm

Dominated by endocrine therapy except in patients with visceral disease

Early breast cancer

1st line

2nd line

Endocrine backbone

AI / Tamoxifen

AI

Fulvestrant / Exemestane

Combination partner

CDK 4/6i

CDK 4/6i or mTORi or PI3Ki

Fulvestrant is currently the only SERD available for patients failing 1L setting

It is limited by intramuscular (IM) administration and its inability to address mutations

Elacestrant phase 3 study met its co-primary endpoints of improved PFS in patients with wild type and mutant disease in 2nd line patients.

CDK4/6i has emerged as the gold standard in 1L but requires an endocrine backbone

SERDs in development have the potential to become that backbone

SERD – Selective Estrogen Receptor Degrader | AI – Aromatase Inhibitor | ESR1 – Estrogen Receptor 1 CDK – Cyclin-Dependent Kinase | PI3K – Phosphoinositide-3-Kinase | PFS – Progression Free Survival | mTORi - Mammalian Target of Rapamycin inhibitor

31

SPARC © 2022 SCO-120: Oral SERD for HR+/HER2- MBC

Clinical study design

Single Ascending Dose (Part A)

Food Effect (Part B)

Multiple Ascending Dose (Part C)

Phase 1 Healthy Volunteer Study Design

Double blind, placebo controlled, single oral dose

Open label, two period, cross over, single dose, fast/fed study

Double blind, placebo controlled, once daily, 14 day repeat dose

Multiple Ascending Dose study

Phase 1 Patient study

HR+/HER2- metastatic breast cancer patients that have failed at least 1 prior endocrine therapy and no more than 3 prior chemotherapy treatments

Dose escalation (MTD/RP2D, safety) (N~44)

MTD/RP2D reached

Dose expansion

(Safety & Preliminary efficacy) (N~105)

Part a: ESR1 mutations

Part b: Resistant to AI ± CDK4/6i

Part c: Resistant to AI & Ful+ CDK4/6i

Part d: Secondary brain metastases to breast

cancer

MBC = Metastatic Breast Cancer | MTD = Maximum Tolerated Dose | RP2D = Recommended Phase 2 Dose | ESR1 = Estrogen Receptor 1 | AI = Aromatase Inhibitor | CDK = Cyclin Dependent Kinase | Ful = Fulvestrant

32

SPARC © 2022 Next steps

MAD in patients study completion and read out in FY24

Phase 2 initiation in FY24

Target NDA submission in FY27

33

SPARC © 2022 Biologics

Nitin Damle

SBO-154 (Anti-MUC-1 ADC)

Targeting an antigen expressed in a wide spectrum of tumors

SBO-154: Anti-MUC-1 ADC

Novel approach to target α/β complex, with an opportunity to target multiple tumor types

Tumor agnostic opportunity in-licensed from

Biomodifying LLC*

MUC-1 expressed extensively in majority of

tumors

Preclinical PoC of anti-tumour efficacy of

anti-MUC-1 targeted ADC established

Most anti-MUC-1 mAbs under development

target VNTR in the MUC-1α

Circulating MUC-1α in plasma and in peritumoral space block meaningful tumor targeting by MUC1α-targeted therapies

Primary reason for the lack of efficacy

No directly competing agents targeting

α /β junction

Potential to be an anchor for other

constructs like bi-specific/multi-specific antibodies, naked mAb, etc.

α Subunit

β Subunit

C

N

R T N V

AR20.5 C242 PAM4 DS6 KL6 5E5 2D9 PankoMab TAB004

*Anti-MUC-1 antibodies licensed from Biomodifying LLC | MUC-1 - Mucin-1 | ADC - Antibody Drug Conjugate | PoC – Proof-of-concept

36

SPARC © 2022 Anti-MUC-1 mAbs* internalize in pancreatic carcinoma cells

Alexa 647 labelled 1° Ab

Alexa 488 labelled 2° Ab

Hoechst

Merged

BF

1 - C U M

- i t n A

b a m i x u t i R

Red fluorescence is associated with anti-MUC-1 antibody, green fluorescence is associated with anti-human Fc-γ antibody & Hoechst dye stains nucleus and is blue in colour

*Anti-MUC-1 antibodies licensed from Biomodifying LLC

37

SPARC © 2022 SBO-154 strongly inhibits growth of MUC-1 expressing tumors

Established in subcutaneous pancreatic carcinoma xenografts

) 3

m m

(

l

e m u o V r o m u T

3000

2500

2000

1500

1000

500

0

0

Regimen: Q7D x 3, i.p.

Free Payload

Vehicle, 10ml/kg

Rituximab-DC

SBO-154, low dose

Nab-PTX

SBO-154, medium dose

SBO-154, high dose

7

14

21

28

35

Days Post Treatment Initiation

Tumor staging

Tumor monitoring

Dose-dependent efficacy observed

with SBO-154, with sustained regression observed at high-dose

Rituximab-drug conjugate and

paclitaxel do not show similar activity

-33 to -63

0

7

14

Cell inoculation

Dosing

DC = Drug Conjugate | Nab-PTX = Paclitaxel

38

SPARC © 2022 SBO-154 causes regression of large tumor mass xenografts of a pancreatic carcinoma cell line

Tumor staging

Treatment

Tumor growth period (days)

) 3

m m

(

l

e m u o V r o m u T

DC = Drug Conjugate

Treatment: ip Q7Dx3

Vehicle

Rituximab-DC

SBO- 154

Large tumor study is used

to determine cytoreductive potential

SBO-154 but not isotype

matched control (rituximab- DC) causes significant regression of large established pancreatic tumor xenografts

39

SPARC © 2022 Next steps

IND enabling tox studies completion

Pre-IND meeting

IND filing in FY24

40

SPARC © 2022 Preclinical NCE Program

Vikram Ramanathan

SCD-153 for Alopecia Areata

A potential first-in-class opportunity in an autoimmune disease with significant unmet need

Alopecia Areata – Autoimmune disease causing hair loss

Hair follicles lose immune privilege and they move into Telogen (resting) phase

Alopecia Areata is characterized by

Rapid progression of hair follicle from anagen (growing) phase to catagen (transition) phase to telogen (resting) phase

Collapse in immune privilege in hair

follicle bulb

CD4+ and CD8+ T cells infiltrate and

damage the hair bulb

NKG2D positive CD8+ T cells are the major

effectors of hair follicle damage

Alters normal hair growth cycle and causes

hair to fall out

However, the hair follicle structure and

stem cells are preserved, suggesting

potential for hair growth

Adapted from Nature Reviews. Disease Primers. 3:17011, 2017

43

SPARC © 2022 SCD-153 stimulates hair growth in animal models

C57BL/6 telogen - anagen alopecia model

Vehicle, QOD, 2 applications

SCD-153, QOD, 2 applications

Tofacitinib, QOD, 2 applications

Female mice, 8.5 weeks, Dorsal hair clipped. Treated on right side, left side is untreated. QOD: every other day

SCD-153 stimulates robust hair growth after 2 doses given on alternate days

Promotes re-entry into anagen possibly via activation of stem cells at the base of the hair follicle

44

SPARC © 2022 SCD-153 stimulates hair growth in animal models

C3H/HeJ alopecia areata immune disease model

Before

After

Untreated

Treated

Red: Untreated

Green: Treated

Robust hair growth in a disease model Decrease in CD8+ immunostaining proximal to hair follicles. Reduction in “swarm of bees”

Decrease in gamma-interferon and CTL gene

signature

45

SPARC © 2022 Next steps

IND enabling tox studies completion

IND filing in FY23

46

SPARC © 2022 Financial Update

Chetan Rajpara

SPARC © 2022 Financial summary

Year

USDINR

Total Income

Total Expenses

Exceptional Item

FY18

FY19

FY20

FY21

FY22

Q1FY23

64.46

69.95

70.91

74.23

74.49

77.16

83

329

49

196

342

-

87

399

-

258

410

-

144

347

0

Profit / (Loss) after Tax

(197)

(145)

(312)

(151)

(203)

Total Income

Total Expenses

Exceptional Item

12.9

51.1

7.6

28.1

48.9

-

12.2

56.3

-

34.8

55.2

-

19.3

46.6

-

INR Cr

29

111

0

(82)

USD Mn

3.7

14.4

-

Profit / (Loss) after Tax

(30.6)

(20.8)

(44.1)

(20.4)

(27.3)

(10.7)

48

SPARC © 2022 Cash and liquidity

Issued convertible warrants for Rs. 1,112 Cr (~USD 148 Mn) in July 2021 by way of preferential issue

Received Rs. 409 Cr (~USD 55 Mn) being 25% payable on application & upon conversion of warrants

Balance Rs. 703 Cr (~USD 93 Mn) to be received by Dec 2022 upon conversion of warrants by investors

Line of credit from parent company Rs. 250 Cr (~USD 31 Mn) and bank facility for Rs. 245 Cr (~USD 31

Mn) in place, of which Rs. 183 Cr (~USD 23 Mn) is utilized as on Sept 30, 2022

Obtained shareholders’ fresh approval in Sep 2022 for raising additional sum up to Rs. 1,800 Cr (~USD 225

Mn) by way of issuance of fresh equity or debt

49

SPARC © 2022 THANK YOU

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SPARC © 2022

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