SPARCNSE7 January 2024

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

Sun Pharma Advanced Research Company Limited

SPARC/Sec/SE/2023-24/078

January 07, 2024

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.

Scrip Symbol: SPARC

Scrip Code: 532872

Dear Sir/Madam,

Sub: Investor Presentation

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclosed herewith the investor presentation which we will be delivering during 42nd Annual J. P. Morgan Healthcare Conference at San Francisco at 10.30 am pacific time on January 10, 2024 and shall be uploading on our website after sending this letter to you.

This is for your information and dissemination.

Yours faithfully,

For Sun Pharma Advanced Research Company Ltd.

Kajal Damania Company Secretary and Compliance Officer

JP Morgan 42nd Annual Healthcare Conference

Anil Raghavan Chief Executive Officer

January 2024

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

Forward-looking statements

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.

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. This presentation document may contain certain UPSI (Unpublished Price Sensitive Information). You are advised to handle this information in a confidential manner and share it strictly on a need to know basis only. Anyone in possession of such UPSI should not trade/deal in the securities of the Company, either directly or indirectly. Pursuant to SEBI (Prohibition of Insider Trading) Regulations 2015, the Company maintains a Structural Digital Database wherein details of sharing this presentation with you are entered. 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.

Unique origins

Strategic pivot

Operating model advantage

First listed R&D company out of India

Shift from 505(b)(2) assets

Captive capability – Bench to bedside

Founders still own 70% and continue

3 NCEs in clinical development

Plugged into global innovation

to invest

Initial focus – Drug delivery systems

10+ NCE/NBE programs in the R&D pipeline covering 3 TAs

ecosystem

Strategic relationships – A key

tenet of strategy

Low cost of failure offers more shots on goal

3 NDAs approved by USFDA and technology/product partnerships contributing significant ‘non-dilutive’ cash to support the portfolio build USD 308m non-dilutive capital out of a life-time spend of USD 582m*

* As on March 2023

Vodobatinib

Optionality

A selective, brain penetrant c-Abl kinase inhibitor moderating oxidative stress response

Potential disease modifying therapy with applications in several neurodegenerative diseases

Vodobatinib’s clinical PoC established in Chronic Mylogenous Leukaemia

SCD-153 pursuing a novel mechanism in Alopecia Areata

Vibozilimod, a third generation, S1P R1 agonist in clinical PoC studies for multiple derma autoimmune diseases

SBO-154 Antibody Drug Conjugate targeting a unique epitope of MUC-1

Asset/Program

MoA

Indication

Discovery

Preclinical

Phase 1

Phase 2

Upcoming Catalysts

Vodobatinib (SCC-138)

c-ABL Inhibitor

Vodobatinib (SCO-088)

SBO-154

BCR-ABL Inhibitor Anti-MUC-1 ADC

Vibozilimod* (SCD-044)

Selective S1PR1 agonist

SCD-153

Undisclosed

Parkinson’s Disease Lewy Body Dementia1 Alzheimer’s Disease Refractory CML Solid Tumors

Psoriasis

Atopic Dermatitis Alopecia Areata

Preclinical Assets

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

Neurology

Oncology

Immunology

1 Investigator Initiated Trial * Vibozilimod licensed to Sun Pharmaceutical Industries Limited (SPIL)

Interim analysis result in Q2 2024 Phase 2 data readout in Q3 2024

Phase 2 data readout in Q4 2024

IND filing in Q1 2025

Phase 2 Topline readout in Q4 2024 Phase 1 MAD study results in Q2 2025

Role of c-Abl in Parkinson’s Disease

c-Abl – Key driver of neurodegeneration cascade

c-Abl is activated in oxidative stress response

Triggers toxic degenerative cascade through

key substrates

Crucial role in protein aggregation and

compromisation of its clearance

Vodobatinib - An optimal agent to test the hypothesis

Sub-nanomolar potency against human c-Abl with high selectivity

Robust brain penetration

facilitating target engagement

Image adapted from c-Abl and Parkinson’s Disease: Mechanisms and Therapeutic Potential - J Parkinsons Dis. 2017; 7(4): 589–601

PFF-induced mouse model1

AAV mutant α-Synuclein (hA53T) rat model2

3 4 0 0 0 > = p

9 9 9 9 0 > = p

1 1 1 0 0 = p

p=>0.9999

) c e s (

e m

i t g n n r u T

1 2 1 - I T R I 5 2 1

a t a i r t S

c i f i c e p S

) e u s s i t g / i C n ( g n d n B

1.0

0.8

0.6

0.4

0.2

0.0

PBS+ Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

AAV EV

AAV hA53T α-synuclein

Vehicle

Vodobatinib 15mpk

Vodobatinib 30mpk

Vodobatinib 45mpk

In the PFF-induced mouse model, Vodobatinib shows

NS: p>0.05; *p<0.05; **p<0.001 versus the un-operated (contralateral) hemisphere. Two-way ANOVA with Fisher’s LSD post-hoc test

Functional improvement

Target engagement in the brain

Dopaminergic neuronal protection

In the AAV mutant α-Synuclein model, Vodobatinib treatment protects against dopaminergic neuronal loss and compensates the functional deficits

Study conducted at 1. Dr. Dawson’s lab, JHU

Study conducted at 2. Atuka Canada

PFF: Preformed fibril, AAV: Adeno-Associated Virus

Phase 1 completed in healthy subjects and PD subjects with doses up to 384mg per day

Overall well tolerated

CSF PK suggests adequate brain penetration over 24 hours

192mg and 384mg doses proposed for Phase 2 PoC study

Phase 2 PoC study (PROSEEK) initiated in 2019

PROSEEK: Phase 2 study in early Parkinson’s disease patients evaluating the safety and efficacy of Abl tyrosine kinase inhibition using K0706

PROSEEK study design

Screening

Randomization

PART1 Weeks 0 To 40

Placebo (N=168)

Vodobatinib 384mg (N=168)

Vodobatinib 192mg (N=168)

Follow up

PART 2 Long Term Extension Weeks 41 To 76

Vodobatinib 384mg

Vodobatinib 192mg

Primary endpoint Change in MDS-UPDRS Part 3

Key secondary endpoints Change in MDS-UPDRS Part 2+Part 3

Time to the start of symptomatic medication

Clinician global impression of severity

Exploratory endpoints DaT SPECT at beginning and at the end

Exploratory CSF markers

Skin biopsy for synuclein deposition at baseline and at week 36

Neurofilament light chain (NfL)

Smartphone based measure of motor performance

Key milestones Administrative interim analysis in April 2024

Topline data for the study in September 2024

PROSEEK – Global patient distribution

221

Over 40% patients enrolled from the US

100

150

200

250

Number of patients randomized

Drug related SAEs reported in 1.2% patients

No significant cardiac events reported

GI and rash were the most common AEs reported

No changes in study protocol recommended by DSMB throughout the conduct of the study

iPSC-Neurons

DMSO

Vodobatinib 10 nM

21 days

Analysis of cell lysate and culture supernatant

Vodobatinib 10 nM

150

100

p- cAbl (Tyr 412)

Tot cAbl

Lamp-1

phospho Tau (AT8)

Total Tau

a-Syn

Synaptophysin

Actin

ELISA detection of Aẞ40 and Aẞ42 in culture supernatant

Aẞ40 pg/ml

Aẞ42 pg/ml

Aẞ42/AB40

5.0

2.5

0.0

1.5

1.0

0.5

0.0

0.25

0.0

DMSO Vodobatinib

Augments autophagic flux and reduces levels of α-Synuclein (Parkinson’s disease), and Tau, phospho Tau and Aβ peptides (Alzheimer’s disease)

Study conducted at Brigham Women’s Hospital, Harvard Medical School

PRE-DIAGNOSIS

PARKINSON'S DISEASE DIAGNOSIS

EARLY STAGES

ADVANCED STAGES

Sensory symptoms and non-specific pain

PROSEEK target population

Vodobatinib future development

Dyskinesia On-Off

Psychosis, Hallucinations OCD

Tremor, Rigidity, Bradykinesia

Postural changes, Dysphagia, Freezing, Falls

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

Gastrointestinal symptoms and constipation

Autonomic dysfunction: Orthostatic hypotension

Impaired olfaction

Visual abnormalities

Sleep disorders

Depression

Cognitive impairment

Pain in medial collateral ligament

Dysphagia, Urinary symptoms, Orthostatic hypotension, Dementia

-20

-10

Time from diagnosis (years)

Treatment Complications

Motor symptoms

Non-motor symptoms

Vodobatinib’s opportunity spectrum

Parkinson’s Disease – All stages

α synucleinopathies (Lewy Body Dementia & Multi System Atrophy)

Diseases driven by other proteins activated by c-Abl (AD, ALS)

70% of PD patients are DMT eligible at diagnosis to delay symptomatic treatment*

Physicians expect Vodobatinib to be used across all PD patients, including familial PD*

*Based on independent 3rd party research

S1P functional activity using GTPγS assay

S1PR1 agonists

Vibozilimod

Fingolimod

Ozanimod

Ponesimod

Etrasimod

S1PR1

0.2

0.4

1.9

1.5

EC50 GTPγs (nM) S1PR3

>10,000

7.7

>10,000

~1000

S1PR5

2.2

3.5

10.7

0.7

Highly-selective S1PR1 agonist over other S1P receptors

Established preclinical and early clinical validation

Potential synergy with other mechanisms in IBD – like IL-23 blockade

Developed in collaboration with a French biotech company, Bioprojet

SPARC in-licensed Bioprojet’s share of IP

Potential to lead the S1P R1 class in derma autoimmune diseases

Heart rate & lymphocyte reduction following Multiple Doses

;

% p o r d C L A / ) p m b (

e s a e r c e D R H

100

-20

-11.6

1 mg

-11.4

2 mg

-12.7

2-4-6 mg

Dose in mg

-5.4

-12.1

0.3-0.6-1 mg

0.2-0.6-1 mg

~60% lymphopenia observed at 1mg titrated dose with max HR drop 5.4bpm

Lymphopenia at therapeutic dose compares favourably to competing programs

Max drop in Mean HR (bpm)

Trough Lymphopenia%

Nadir Lymphopenia%

bmp = beats per minute HR = Heart rate ALC = Absolute lymphocyte count

A randomized, double-blind, placebo-controlled study to

assess the efficacy and safety of Vibozilimod in the treatment of moderate-to-severe Atopic Dermatitis [NCT04684485]

A randomized, double-blind, placebo-controlled study to

assess the efficacy and safety of Vibozilimod in the treatment of moderate-to-severe Plaque Psoriasis [NCT04566666]

240 patients in four arms, study open in 40 sites across US,

Europe and Latin America

Primary endpoint – Proportion of patients achieving EASI-75

Primary endpoint – Proportion of patients achieving PASI-75

response at week-16

Recruitment completion expected in Q2, 2024

Primary endpoint topline in Q4, 2024

AD Phase 3 initiation in Q1, 2025

Vibozilimod is partnered with Sun Pharma with ~50% economics retained with SPARC

SCD-153 blocks key inflammatory cytokines implicated in AA

Healthy

Alopecia Areata

Outer root sheath

Sebaceous gland

Hair shaft

Bulb

Immune-privileged bulb of hair follicle

Breakdown of immune-privilege, Infiltration of immune cells-“Swarm of bees”

SCD-153, novel pro-drug of a natural metabolite that restores immune privilege at hair follicle

Topical formulation targets to reduce systemic exposure and potential side effects

MHC Class I & Class II

CD4+ T cell

CD8+ T cell

Antigen Presenting cells

Week#

Week 0 (Before treatment)

Week 16#

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

n=4

#n=1 from each group has completed Week 14

Data are represented as mean + SD; two-way ANOVA followed by Bonferroni’s multiple comparisons test (*p<0.05 vs Vehicle)

SCD-153 demonstrates single agent activity at different doses/regimens

The drug-treated mice showed significant decrease in the cytotoxic CD8+ T cells in the diseased skin

Drug treatment also caused significant reduction in IFN signature gene expression (CXCL-9, -10 and -11, IFN-g, MX-1 and STAT-1)

Potential to use in combination with other agents

IFN 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

In-vitro studies have shown that SCD-153 inhibits: Expression of CXCL9, 10 and 11 in stimulated human keratinocytes

IFN secretion from stimulated murine CD8+ T cells

SCD-153 early clinical studies started in November, 2023. MAD study results expected in 2025

Licensed antibodies targeting MUC-1 SEA (α-β combinatorial epitope) developed at Tel-Aviv university

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

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

Platform potential - Follow-up programs delivering immune activators, possibility to explore multi-specificity and bi-functional payload systems

α Subunit

R T N V

SEA domain

β Subunit

SEA: Sea urchin sperm protein, enterokinase and agrin

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

Tumor Staging

) 3

m c (

e m u o V r o m u T

Tumor Staging

) 3

m c (

e m u o V r o m u T

Days Post Cells Inoculation

Vehicle

Rituximab ADC

SBO-154

High cell surface expression of MUC-1 in NSCLC, HR+ BC, PDAC & Ovarian cancer

Very low circulating MUC-1 SEA in patient plasma samples

First product to enter clinic in Q1, 2025

Key themes driving portfolio growth

Novel molecular pathways in neurodegeneration

Antibody mediated, multi-modal tumour targeting

Synthetic lethality

Novel pathways in unaddressed autoimmune disorders

3 Clinical stage programs targeting areas of high unmet need Targeting unmet medical needs with USD20Bn+ combined peak sales potential in 6 indications

Discovery & development across validated & novel biology in order to balance the risk Multi-modal portfolio; 10+ preclinical programs including an Antibody Drug Conjugate program

Proven high quality R&D organization with capital-efficient global operations 350+ scientists across 4 research centers with USD 500Mn+ invested to date

3 USFDA approvals for internally developed assets

Flexible model to maximize shareholder value Partnerships to maximize large commercial potential and provide non-dilutive capital

Optionality to explore other commercial models for key assets preserved

Marquee founder, experienced management team and scientific advisory board with globally recongnized scientific leaders

423.35 INR +212.40 (100.69%) past year 5 Jan, 3:21 pm IST.

YTD

Max

500

300

200

100

Upcoming catalysts

PROSEEK interim analysis – April 2024

PROSEEK topline – September 2024

Vodobatinib partnering

423.35 INR 5 Jan 2024

SOLARES-AD-01 interim analysis Q4 2024

SCD-153 MAD outcome – Q2 2025

SBO-154 IND – Q1 2025

Mar 2023

Jun 2023

Aug 2023

Oct 2023

Dec 2023

Raised ~USD150m in 2021-22 @INR 178/share

Cash runway covers currently projected milestones

Net cash burn - ~USD 30-35m annually

The SPARC Logo is a trademarks of Sun Pharma Advanced Research Company Ltd . In addition to Company data, data from market research agencies, Stock Exchanges and industry 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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Sun Pharma Advanced Research Company Limited has informed the Exchange about Investor Presentation

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