SPARCNSE2 November 2023

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

Sun Pharma Advanced Research Company Limited

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Update on Clinical Programs and R&D Pipeline Nov 2, 2023

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BSE: 532872 NSE: SPARC BLOOMBERG: SPADV@IN RETURNS: SPRC.BO CIN: L73100GI2006PLCO47837

Disclaimer

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This presentation and its contents should not be distributed, published or reproduced, in whole or part, or disclosed by recipients directly or indirectly to any other person. Any failure to comply with these restrictions may constitute a violation of applicable laws. Accordingly, any persons in possession of this presentation should inform themselves about and observe any such restrictions. This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Peak sales forecast/potential in the presentation represent potential sales of the product/s for the commercialization partner. Forward looking statements are based on certain assumptions and expectations of future events. This presentation should not be relied upon as a recommendation or forecast by Sun Pharma Advanced Research Company Limited (“Company”). Please note that the past performance of the Company is not, and should not be considered as, indicative of future results. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements. The Company does not undertake to revise any forward-looking statement that may be made from time to time by or on behalf of the Company. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward looking statements.

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Agenda

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Strategic Overview

Anil Raghavan

Clinical Programs

Siu-Long Yao

SCD-153

Vikram Ramanathan

SBO-154

Nitin Damle

Financial Update

Chetan Rajpara

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Strategic overview

Anil Raghavan

Maturing portfolio & operating model

Cost competitive translation with global access to science

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Innovative Portfolio

Narrower Therapeutic Focus

Continuously Improving Execution

Strategic Partnerships

Active Portfolio Churn

Pivot from 505(b)2

Embrace risk

Scalable platforms

Oncology, Neurology & Immunology

Focus on specific pathways & approaches

Competency development

Sharper execution focus

Plug into global innovation ecosystem

Rigorous review and prioritization

External engagement

In-house competencies and infrastructure to prosecute an idea from ‘bench to bedside’ with an ability to scale across modalities

3 NDAs approved by the USFDA and commercialized by partners, contributing significant ‘non dilutive’ cash to support the portfolio and operating model build-up

Robust pipeline with 3 NCEs under clinical development in 6 indications including two ‘first-in-class’ opportunities

NDA: New Drug Application| USFDA: United States Food & Drug Administration | NCE: New Chemical Entity

Year 2024 promises several value inflection points High-yield assets set to read out clinical PoCs and proceed to pivotal programs

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Key catalytic events coming up every quarter during next year

Q1 2024

Vodobatinib PD

PROSEEK Interim analysis readout

Q2 2024

SCD-153

Phase 1 SAD study results

Vibozilimod*

Atopic dermatitis

Phase 2 study enrollment completion

Q3 2024

Vodobatinib PD PROSEEK full data readout

Q4 2024

SBO-154

IND submission

Vibozilimod* Atopic dermatitis Interim analysis and topline results

SCD-153 Phase 1 MAD study initiation

PoC: Proof of Concept | PROSEEK: Phase 2 study in early Parkinson's disease patients evaluating the safety and efficacy of Abl tyrosine kinase inhibition using K0706 | PD: Parkinson’s Disease | SAD: Single Ascending Dose | MAD: Multiple Ascending Dose | IND: Investigational New Drug | *Vibozilimod licensed to Sun Pharmaceutical Industries Limited

Vodobatinib reached Phase 2 enrollment target

PROSEEK read out to provide definitive PoC for the cAbl hypothesis and oxidative stress response modulation as an approach for neuroprotection

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PROSEEK Phase 2 study of Abl tyrosine kinase inhibition with Vodobatinib

tparkin pY143

One of the largest Phase 2 study ongoing for early PD patients (pre L-Dopa)

Study met enrollment target, 504 evaluable patients

Treatment duration of 40 weeks followed by 40 weeks’ extension study

Data from interim analysis expected in March 2024

Geared up for post PROSEEK outcome

State of readiness for initiation of Phase 3 study

Engaging partners for potential collaboration

Sporadic PD

Mitochondrial Dysfunction

~ Oxidative Stress i

'!'Activated c-Abl pY245 c-Abl) pY412c-Abl

(

tp-p38a pY182 ) pY328

(

A53T Mutation (Familial PD)

a-Synucleln

"'a-Synuclein pY39 T

1' a-Synuclein Aggregation

,J,, Parkin Activity (Autoubiquitunated Parkin)

(

'!'PARIS

1'AIMP2

,j,,PGC-la ~

Oxidative stress in PD and related α-synucleinopathies1

Data cut-off: 20 Oct 2023 1. c-Abl and Parkinson’s Disease: Mechanisms and Therapeutic Potential - J Parkinsons Dis. 2017; 7(4): 589–601 cAbl: Cellular Abelson Kinase | L-Dopa: Levodopa

PROSEEK opens up a broad opportunity set

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Unlocks significant value for SPARC with potential use across PD progression and in disorders driven by α-synuclein

Potential to combine with symptomatic therapies in PD

Potential for early interventions in precursor conditions

PROSEEK offers a powerful PoC for the pathway in diseases driven by α-synuclein

Key disorders having α-synuclein aggregation as a pivotal process include PD, MSA & DLB

PRE-DIAGNOSIS

PARKINSON’S DISEASE DIAGNOSIS

Sensory symptoms and unspecific pain

Impaired olfaction

Visual abnormalities

Sleep Disorders: REM sleep behaviour disorder Daytime somnolence Restless legs syndrome Periodic limb movement in sleep

Depression

Cognitive impairment

EARLY STAGES

ADVANCED STAGES

PROSEEK target population

Vodobatinib future development

Dyskinesia On-Off

Tremor Rigidity Bradykinesia

Pain in medial collateral ligament

Dysphagia Urinary symptoms Orthostatic hypotension Dementia

Psychosis Hallucinations OCD

Postural changes Dysphagia Gait's apraxia Freezing Falls Dystonia

Treatment Complications

Motor symptoms

Non-motor symptoms

Gastrointestinal symptoms and constipation

Autonomic dysfuction: Orthostatic hypotension Urogenital dysfunction

n o s s e r g o r p e s a e s D

-20

-10

Time from diagnosis (years)

Vodobatinib can emerge as the protective backbone across the continuum of care for synucleopathies and other neurodegenerative disorders resulting from misfolded proteins

Chart adapted from Is insulin-like growth factor-1 involved in Parkinson’s disease development? Castilla-Cortázar et al. J Transl Med (2020) 18:70 MSA: Multiple System Atrophy | DLB: Dementia with Lewy Bodies | OCD: Obsessive Compulsive Disorder

Vibozilimod*

Optionality beyond PROSEEK

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SPARC pipeline includes multiple high value assets with platform potential

SPARC’s immunology program will provide additional efficacy and safety data points in 2024

Oncology offers a potential hedge and anchor for future portfolio build across modalities

Additional bets to understand underlying mechanisms in neurodegenerative diseases - UK DRI collaboration

Immunology

Oncology

Led by 3rd generation S1PR1 agonist, Vibozilimod with potential to be best-in-class asset in Dermatology – Clinical PoC in 2024

SCD-153 program to explore a novel pathway with a topical agent for Alopecia Areata – Safety PoC in 2024

Potential additional indications

Vodobatinib in CML – Recalibrating to a changing regulatory and market landscape

MUC-1 program – A differentiated targeting approach which can become a pipeline in itself beyond the first ADC

UCSF collaboration for Small Molecule Drug Conjugates in mPC

Strong preclinical interest in antibody mediated delivery, RNA targeted therapeutics, & collateral lethality

Additional shots on goal & enabling competencies differentiate SPARC’s risk profile

Immunology program focused on autoimmune disorders in dermatology Opportunity to become safer oral alternative to the current SoC; offers a path to build an immunology franchise

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Vibozilimod

Two Phase 2b studies recruiting patients in Psoriasis and Atopic Dermatitis; lead indication Atopic Dermatitis

Provides an alternate mechanism to IL-4/IL-13 antibodies and JAK inhibitors

Studies being expanded to Europe and Canada

SCD-153

Topical application may potentially provide a safer alternative to currently approved JAK inhibitors for treatment of AA

Phase 1 study initiated for AA

Preclinical evaluation ongoing in other autoimmune diseases of epidermis

SoC: Standard of Care | IL-4: Interleukin-4 | IL-13: Interleukin-13 | JAK: Janus Kinase | AA: Alopecia Areata

Oncology pipeline with multiple near-term clinical options… …backed up by an active preclinical effort involving multiple targets and modalities

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Vodobatinib for CML (SCO-088) writes down the PROSEEK risk

Validated target; efficacy established in patients

Being developed under Frontrunner program of the USFDA; potential to move in earlier lines of treatment

Cell-targeting by ADC1

1. ADC binds to antigen

2. Internalisation via endocytosis

Antigen

DNA intercalation

5. Apoptosis of target cell

Payload

Microtubule disruption

Endosome

3. Degradation of ADCs in lysosomes

Lysosome

4. Release of payload and drug action

Antibody and small molecule ligands targeted delivery of payloads across modalities is a key focus for SPARC oncology

MUC-1 antibody provides a differentiated platform to build pipeline of assets targeting a defined subset of patients across multiple tumors

Key elements of the MUC-1 α/β hypothesis validated. First program on track; expected to enter clinic in 2024

Additional constructs with other payloads and augmented targeting are being evaluated in preclinical setting

Preclinical PoC established for Small Molecule Drug Conjugate

Emerging preclinical interest in novel synthetic lethality pairings and RNA therapeutics

1. Adapted from: Antibody-drug conjugates for cancer Cindy C et al. Lancet 2019;394:793-804

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Rigorous translational focus Focused on patient needs, developability considerations & asset appropriateness

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COST FOCUS Resource optimization

BUILD Investment, prioritization & move faster

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s s e c c u s

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R&D Strategy

STOP Divest & Reallocate resources

EVALUATE Risk mitigation

Low

NPV

High

Rigorous portfolio review process – Kill early, kill cheap, kill completely

Large proportion of programs focusing on novel biology (potential first-in-class). Continued development of best-in-class assets for validated targets to balance the risk

SPARC expects additional non-dilutive cash flows from its commercial/partnered assets

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ELEPSIA & XELPROS

Strong uptake post launch

Commercialization disrupted due to import alert at partner’s manufacturing site

Identified alternate manufacturing site for tech transfer

SEZABY

PDP-716

VIBOZILIMOD

Licensed to SPI Inc.

Safeguarding interests of patients and caregivers

Filed PIL with USFDA

Sent cease & desist letters to companies marketing unapproved products in the US market

Robust supply chain development

USFDA issued CRL to PDP-716 NDA due to inspection findings at a third-party API manufacturing facility

No additional clinical data or trials requested

Identified alternate API partner

SPARC eligible to receive regulatory & sales milestones and royalty on sales

Option to monetize royalty for immediate fund requirements

SPI: Sun Pharmaceutical Industries | PIL: Public Interest Litigation | CRL: Complete Response Letter | API: Active Pharmaceutical Ingredient | NDA: New Drug Application

Pipeline overview

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Asset / Program

MoA

Indication

Discovery Preclinical

Phase 1

Phase 2

Phase 3/ Registration Study

Vodobatinib (SCC-138)

c-ABL Inhibitor

Vodobatinib (SCO-088)

BCR-ABL Inhibitor

Parkinson’s Disease

Lewy Body Dementia1

Alzheimer’s Disease

Refractory CML

SB0-154

Anti-MUC-1 ADC

Solid Tumors

Vibozilimod (SCD-044)

Selective S1PR1 agonist

Psoriasis

Atopic Dermatitis

SCD-153

Itaconate derivative

Alopecia Areata

Preclinical Assets

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

Neurology

■

Oncology

■

Immunology

■

Bexirestrant deprioritized based on commercial assessment and change in treatment landscape

1. Investor initiated study. MoA: Mechanism of Action | BCR-ABL: Breakpoint Cluster Region-Abelson

Key priorities for next year Execution focus is the objective

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Clinical studies

Regulatory filing

Strategic priorities

PROSEEK completion and data readout

Vodobatinib Phase 3 study initiation for PD

SCD-153 Phase 2 study initiation

Vibozilimod enrollment completion for Atopic Dermatitis study

Elepsia site transfer

PDP-716 re-filing

EoP2 meeting with USFDA for Vodobatinib in neurodegenerative disorders

SBO-154 IND filing

Resourcing to ensure smooth operations

In-licensing of potential opportunities

Capabilities and resource building

EoP2: End of Phase 2

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Clinical programs

Siu-Long Yao

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Vodobatinib (SCC-138) for neurodegenerative diseases

Siu-Long Yao

Parkinson’s disease epidemiology PD affects ~7 mn people globally; expected to grow above 14 mn by 2040

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PD population outgrowing overall population (2-4% growth in PD vs. 1% global population growth)

DMTs can make significant impact to the lives of PD patients by changing the trajectory of disease

Stages of Parkinson’s Disease1

Motor symptom onset

Further titration of dopaminergic tretment

Consider Advanced therapies

Death

Bradykinesia Rigidity Tremor

Motor fluctuations Dyskinesia

Falls Gait disorder Dysphagia

Prodromal

Diagnosis

Maintenance

Complex

Palliative

RBD Depression Constipation Anosmia

Initiation of dopaminergic treatment

Cognitive impairment Urinary symptoms Postural Hypotension Pain

Dementia Psychosis

Care home admission

1. Update on the diagnosis and management of Parkinson's disease. Kobylecki C. Clinical Medicine. 2020 Jul;20(4):393. IQVIA-SPARC-Vodobatinib Opportunity Assessment in PD-Final Readout-September 2020 Source: IQVIA analysis; population and growth rate: Census, Eurostat, INSEE, Word Bank, Parkinson’s Foundation, Savica et al, JAMA Neurology, 2017 DMT: Disease Modifying Therapy

PROSEEK

study update

Enrollment target met

Screening

Randomization

PART 1 Weeks 0 to 40

Placebo (N=168)

Vodobatinib 384mg (N=168)

Vodobatinib 384mg

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Part 1

Data from interim analysis expected to be

available by March 2024

Part 2

Study initiated in Q4 2021

~87% of eligible patients enrolled in Part 2

Continuing treatment for additional 9 months

Continues to evaluate patients until May 2025

Vodobatinib 192mg (N=168)

Vodobatinib 192mg

PART 2 Weeks 41 to 76

Data cut-off: 20 October 2023

Patient continues into extension part of protocol

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PROSEEK

study update

No significant cardiac events reported in the patients recruited

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Number of patients randomized

Over 40% patients enrolled from the US

250

200

150

100

216

Grade 3/4 events reported in 6.1% patients

GI and rash were the most common AEs reported

No changes in study protocol recommended

by DSMB throughout the conduct of the study

6 DSMB reviews conducted

USA

India

Spain

Poland

Slovakia Hungary

DSMB: Data and Safety Monitoring Board | GI: Gastrointestinal | AE: Adverse Events Data cut-off: 20 October 2023

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PROSEEK

study update

Biomarkers under evaluation

Target biomarker cohort enrolment – 150 total (random assignment)

Further randomization to placebo, low dose, or high dose Vodobatinib – 50 assigned to each arm

Exploratory samples (CSF, plasma, serum) at baseline, 8 & 40 weeks (EOT)

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Trial Entrance/Exit

DaT-SPECT Scan

α-Synuclein skin biopsy

Target Engagement

c-ABL and CRKL

Neuronal Death

Neurofilament Light

PD/Efficacy

Downstream targets (AIMP2, NFKB, NLRP3, p38α[MAPK], PARIS, Parkin, α-synuclein)

Motion/Gait Sensing

Phone based assessment

CSF: Cerebrospinal Fluid |EOT: End of Treatment| DaT-SPECT: Dopamine Transporter Single-photon Emission Computed Tomography | CRKL: CT10 Regulator of Kinase Like | NFKB: Nuclear Factor kappa B NLRP3: Nucleotide-binding domain, Leucine-Rich-containing family, Pyrin domain-containing-3 | MAPK: Mitogen-Activated Protein Kinases | PARIS: Parkin Interacting Substrate | AIMP2: Aminoacyl TRNA Synthetase Complex Interacting Multifunctional Protein 2

•

Vodobatinib development

Activities running in parallel before EoP2 meeting with FDA

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2023

2024

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Rat Carcinogenicity study

Relative BA study

DDI studies

hADME study

EoP2

I ■

EoP2 meeting with FDA planned in Nov 2024

BA: Bioavailability | DDI: Drug-Drug Interaction | hADME: human Absorption Distribution Metabolism Excretion

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Vodobatinib (SC0-088) for chronic myeloid leukemia

Siu-Long Yao

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The prevalence of CML is estimated to grow primarily attributed to prolonged survival and access to TKIs

The current value market is over US$ 3.5 bn

1. www.seer.cancer.gov/statfacts/html/cmyl.html 2. IQVIA MAT July TKI: Tyrosine Kinase Inhibitors

Vodobatinib (SCO-088) Phase 1/2 study results

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Patients continue to benefit over a long period of time

Major Molecular Response (MMR) in CML-CP*

100

Baseline

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■

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■

Achieving response

% patients

Over 1/3rd patients on study drug beyond 3 years

Median duration on study drug being 32.3 months (range: 0.3 – 73.4 months)

*Best response CML-CP: Chronic Myelogenous Leukemia - Chronic Phase Values are rounded-off Data cut-off: 20 Oct 2023

Preclinical data confirms superiority of Vodobatinib over 2nd generation TKI

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in-vitro

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in-vivo

Nilotinib administered in mice at doses that give exposures similar to that of clinically approved dose. GI: Growth Inhibition | p.o.: per oral | o.d.: once daily

Vodobatinib (SCO-088) registration plan alignment with FDA Vodobatinib being developed under project Frontrunner

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Frontrunner is a program launched to make newer disease modifying therapies in earlier lines of treatment instead of late line setting

Registration path

Randomized control study in earlier line of treatment: Phase 3 study in patients failing >1 TKI may be acceptable for approval

Clinical spend expected to increase; due to cost of comparator drug

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EOS: End of Study

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Vibozilimod for autoimmune disorders

Siu-Long Yao

Vibozilimod (SCD-044)

Targeting fragmented dermatology market

Highly selective S1PR1 agonist

Leading agent in the class under development for Psoriasis and Atopic Dermatitis

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Psoriasis

Atopic Dermatitis

US Prevalence ~ 8 mn

US prevalence ~ 18 mn

Dominated by biologics (injectables), limited oral

agents being developed for moderate to severe

disease

Systemic therapy primarily for moderate to

severe disease

Biosimilars yet to take majority share of

patients

Usage of JAK inhibitors limited primarily due

to black box warning and AE profile

Vibozilimod (SCD-044) for Psoriasis

Phase 2 Study design

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Screening 4 Weeks

Part I:16 Weeks

Part II:16-28 Weeks

Part III:28-52 Weeks

Follow-up Week 56

Study open in the US, Latin America and Europe

< PASI75 response at week 28

Discontinue

15 sites in the US

Placebo

Vibozilimod Intermediate Dose

Vibozilimod Low Dose

Vibozilimod High Dose

≥PASI50 response Continue on Vibozilimod Low Dose

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

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<PASI50 response Switch to Vibozilimod High Dose

≥ PASI75 response at week 28

Continue on existing regimen

Vibozilimod High Dose

Continue the assigned treatment

3 sites in Europe

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

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z o b V

( __ _ J

Screening Assessments

2 3

•

x e d n

y t i r e v e S d n a

a e r A a m e z c E

: I

S A E

Next steps

sparc0

Futility Analysis Q2 2024

Interim analysis readout for Atopic Dermatitis study Q4 2024

Complete data readout for Atopic Dermatitis Q2 2025

sparc0

SCD-153 for Alopecia Areata

Vikram Ramanathan

Alopecia Areata: Autoimmune disease that causes hair loss Current treatment approaches are limited

sparc

Clinical manifestations of Alopecia Areata1

Estimated 6.7 mn people in the US and 160 mn people worldwide have AA2

~ 50% can experience spontaneous hair regrowth within one year, the majority often relapse

Current treatments are inadequate

Approved JAK1 inhibitors carry black box warning

Steroids cause serious AEs: systemic immuno-suppression, muscle wasting, growth retardation in pediatric population

1. Pratt et al. Nat. Rev. Dis. Primers (2017) 2. Natural Alopecia Areata Foundation

SCD-153

Novel topical drug for treatment of Alopecia Areata

sparc

SCD-153 blocks key inflammatory cytokines implicated in AA1

Healthy

Alopecia Areata

//II __

MHC Class I & Class II

: •

Antigen

CD4+ T cell

CD8+ T cell

Outer root sheath

Sebaceous gland

Hair shaft

Bulb

Presenting cells

Immune-privileged bulb of hair follicle

Breakdown of immune-privilege Inﬁltration of immune cells "Swarm of bees"

SCD-153 inhibits inflammatory chemokines, cytokines and decreases pathogenic CD8+ T cells at base of hair follicle; restores immune privilege at hair follicle

Being topical treatment should reduce systemic exposure thereby reducing systemic side effects

1. Adapted from Pratt CH, King LE Jr, Messenger AG, Christiano AM, Sundberg JP. Alopecia areata. Nat Rev Dis Primers. 2017;3:17011 | CD8: Cluster of Differentiation 8

•

SCD-153 has demonstrated promising preclinical data Hair growth in mouse Alopecia Areata model

sparc

Hair Growth Index

Week#

Week 0 (Before treatment)

Week 16#

400

300

200

100

x e d n

h t w o r G

r i a H

)

p u o r g / 8 - 7 = n

D S ± n a e M

(

Vehicle, Thrice-a-week

SCD-153, 3%, Thrice-a-week

......

* * *

* *

Time (Weeks)

Vehicle thrice -a- week

SCD-153 at 3% thrice-a- week

n=7; 85–100% alopecia; >45 weeks age Spontaneous severe C3H/HeJ AA mouse model Data are represented as mean ± SD; two-way ANOVA followed by Bonferroni's multiple comparisons test (* p < 0.05 vs Vehicle)

n=4

#n=1 from each group has completed Week 14

SCD-153 demonstrates single agent activity

It also showed suppression of inflammatory markers in skin

Potential to use in combination with other agents

•

SCD-153 inhibited IFN signature gene expression in skin of AA diseased mice

sparc

qPCR analysis of AA diseased skin

CXCl-9

CXCL-10

CXCL-11

****

120

480

360

•

**** • •

MX-1

••

IFN-y •

**** *

STAT-1

**** •• • r7

QI .. c

.. a. J;; :, U 0 ~ ~ 160 0 C) '+ ""' 120 C ID 11 0 ·vt C 80 "' -QI Q

**** r7 • • • •

•

a. (/) 40 X + I IOJ C QI,. 0..1...,..-Y ..lf'L.l!i~ > QI -~ :E oi - c,:

Treatment

Treatments

Data are represented as mean t SD; n=6- 10/group. Outlier's identification by ROUT test. Data were analyzed using Kruskal-Wallis test w ith post-hoc Dunn's multiple comparisons test,• p < 0 .05; •• p < 0 .01, ••• p < 0 .001, •••• p < 0 .0001

Naive (Healthy)

♦

Vehicle, Thrice-a-week

•

SCD-153, 3%, Thrice-a-week

SCD-153, 3%, Twice-a-week

•

Significant reduction in IFN signature genes in treated skin at different administered doses was observed

Suppressed inflammatory markers in skin

IFN: Interferons | qPCR: quantitative Polymerase Chain Reaction

•

SCD-153 Phase 1 study

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A Randomized, Double-Blind, Vehicle-Controlled, Study to Evaluate the Safety, Tolerability and Pharmacokinetics of topically applied SCD-153 in Healthy Volunteers

IND Approved by DCGI

Phase 1 SAD

Phase 1 SAD study initiated in India

Cohort 1

Cohort 2

Cohort 3

Cohort 4

Cohort 5

(n=8)

Study Flow Chart

5 dose levels

Cohorts administered active drug and placebo

Primary Objective:

To evaluate the safety and local tolerability

[_X_X_X_X_J 0

In-house assessments until 48 hours

Safety follow up Day10

IMP Application Day 1

Site visit at 72 hours

Check in Day -1

Secondary Objective:

To evaluate the plasma pharmacokinetics of SCD-153 and its metabolite

DCGI: Drug Controller General of India | IMP: Investigational Medicinal Product

SCD-153: potential to expand in other epidermal diseases

sparc

Trigger

Melanocyte-containing skin cell (target cell)

Disease-causing immune cell

IFNγ

receptor

CXCR3 -----+ ~ ---+------, 0 0 ~

JAK1/2

~ 0 C=:>

CXCL9 CXCL10

STAT1

CD8+ T cell

c=)

Skin cell

IFNγ induces CXCL9, CXCL10 & CXCL11 in vitiligous skin. These chemokines recruit pathogenic CD8+ T cells to the pigment-containing melanocyte in the epidermis

CD8+ T cells release cytokines that destroy the melanocytes causing depigmentation

studies have shown that SCD-153 inhibits: In-vitro

Expression of CXCL9, 10 and 11 in stimulated human keratinocytes

IFNγ secretion from stimulated murine CD8+ T cells

Image adapted from Picarodo et al. Nat. Rev. Dis. Primers (2015)

CXCL: Chemokine (C-X-C motif) ligand | CXCR3: Chemokine (C-X-C motif) receptor 3

sparc0

SBO-154 for multiple cancer indications

Nitin Damle

Antibody drug conjugates

Large market expected to reach ~ 25 bn by 2038

sparc0

FDA

12 FDA Approved ADCs

US$ 25.34 Bn Projected ADC market by 2028

24.19% CAGR from 2023 to 2028

Approved ADCs

2017

2020

2022

2019

2021

Besponsa®

Polivy®

Akalux®

Zynlonta®

ElahereTM

Aidixi®

Enhertu®

Padcev®

Blenrep®

Trodelvy®

Tivdak®

2023 & Onward

2023 and Beyond There are currently 300+ clinical trials evaluating ADCs

GlobalData's Pharma Intelligence Center

SBO-154 (Anti-MUC-1 ADC)

sparc

Novel antigen & approach to target MUC1-SEA domain, with an opportunity to therapeutically address multiple cancer indications

Tumor agnostic opportunity in-licensed from Biomodifying LLC

SEA targeting hypothesis validated

Preclinical PoC of anti-tumor efficacy of anti-MUC-1-SEA targeted ADC established

So far, no directly competing agents targeting MUC1-SEA in clinical development

α Sub unit

R T N V

AR205 C242 PAM4 DS4 KL6 5E5 2D9 PankoMab TAB004

I I I I I I I

' '

SEA

ß Sub unit

SEA: Sea urchin sperm protein, enterokinase and agrin | VNTR: Variable Number of Tandem Repeats

SBO-154: Efficacy demonstrated in large established tumors

sparc0

MUC-1 High Expression Cell Line

MUC-1 Intermediate Expression Cell Line

MUC-1 Low Expression Cell Line

Tumor Staging

) 3

m c

(

e m u o V r o m u T

Treatment

Days Post Cells Inoculation

Tumor Staging

) 3

m c

(

e m u o V r o m u T

Treatment

Tumor Staging

) 3

m c

(

e m u o V r o m u T

Treatment

Days Post Cells Inoculation

.....

Vehicle

---

Rituximab ADC

SBO-154

SBO-154 causes regression of large established tumors with high MUC-1 SEA expression

SBO-154 development update

INTERACT meeting granted by FDA

sparc0

INTERACT Meeting (Initial Targeted Engagement for Regulatory Advice on CBER CDER Products) Request

Meeting to seek early advice from the FDA to validate preclinical developmental strategy for the IND-enablement of the product and serve as a prelude to Pre-IND meeting prior to IND filing

FDA response anticipated in November 2023

CBER: Centre for Biologics Evaluation and Research | CDER: Centre for Drug Evaluation and Research

sparc0

Financial update

Chetan Rajpara

Financial summary

sparc0

Year

USD INR

INR Cr

FY19

FY20

FY21

FY22

FY23

Q1FY24

69.95

70.91

74.23

74.49

80.37

82.17

Total Income

Total Expenses

196

342

Profit/(Loss) after Tax

-145

USD Mn

Total Income

Total Expenses

28.1

48.9

399

-312

12.2

56.3

258

410

-151

34.8

55.2

144

347

250

472

-203

-223

19.3

46.6

31.1

58.8

129

-95

4.2

15.8

Profit/(Loss) after Tax

-20.8

-44.1

-20.4

-27.3

-27.7

-11.6

FY: Financial year (April 1st to March 31st)

Cash and liquidity

sparc

Out-licensed SEZABY to SPI Inc. in Q4 2022 and received an upfront sum of US$ 10mn. In addition, SPARC is eligible to receive regulatory and sales linked milestone payments and tiered royalties on sales

Received `703 Cr (US$ 93mn) in Jan-2023 against the conversion of warrants. With this, the entire proceed of the Preferential Issue (i.e. `1,112 Cr) stands received

Cash and cash equivalent as of September 30, 2023 was `363 Cr (US$ 44mn)

The Company has

(a) Sanctioned bank facilities for `175 Cr (US$ 21mn) (b) Line of credit from the parent company for `250 Cr (US$ 30mn) in place. Utilization of limits

as of September 30, 2023 is NIL

Obtained shareholders’ approval in Aug-2023 AGM for raising a sum up to `1,800 Cr (US$ 220mn) by way of fresh issuance

sparc0 THANK YOU

For updates and specific queries, please visit www.sparc.life or write to us at bus.dev@sparcmail.com

The SPARC l ogo is a trademarks of Sun Pharma Advanced Research Company ltd. In addition to Company data, data from market research agencies, Stock Exchanges and industr y publications has been used for this presentation. This material is for use during an oral presentation; it is not a complete record of the discussion. This work may not be used, sold, transferred, adapted, abridged, copied or reproduced in whole on or in part in any manner or form or in any media without the prior written consent. All product names and company names and logos mentioned herein are the trademarks or registered trademarks of respective owners

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