SPARCNSE9 December 2021

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

Sun Pharma Advanced Research Company Limited

SPARC/Sec/SE/2021-22/075

December 09, 2021

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 SPARC strategy and portfolio

to Regulation 30 of

Pursuant the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and further to our letter dated November 26, 2021 bearing reference no. SPARC/Sec/SE/2021-22/070, 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 SPARC strategy and portfolio 9th December 2021

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

Disclaimer

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. 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.

Agenda

Portfolio strategy & update

Anil Raghavan

Clinical NCE assets

Siu-Long Yao

Anti TAA-1 & other preclinical programs

Nitin Damle

Financial update

Chetan Rajpara

05 Q&A

SPARC – Taking stock of our journey

4 Clinical Stage Programs Targeting Areas of High Unmet Need

Targeting large addressable patient populations with $20B+ combined peak sales potential in 6 indications

within Oncology, Neurology & Immunology

Discovery & Development Across Validated & Novel Biology in Order to Balance the Risk

Multi-modal portfolio covering small and large molecules and conjugated entities 10+ preclinical programs including a TAA-1 program expected to enter the clinic in 2023

Proven High Quality R&D Organization with Capital-Efficient Global Operations

350+ scientists across 4 research centers including US; $400M invested to date 2 USFDA approvals for internally developed assets 3 NDAs targeted for submission in 2022

Highly Flexible Model to Maximize Shareholder Value

Partnerships to maximize large commercial potential and provide non-dilutive capital Maximize multi-TA opportunity and preserve optionality for spin-offs

Experienced Management Team and Globally Recognized Scientific Advisory Board

ADC = Antibody Drug Conjugate | TA = Therapeutic Area | USFDA = United States Food and Drug Administration | NDA = New Drug Approval | TAA-1 = Tumor Associated Antigen-1

Differentiated operating model

DISCOVERY

DEVELOPMENT

COMMERCIALIZATION

Internal Ideation

Full service bricks and mortar

• Deliberate process with a

robust evaluation framework

• Mature discovery

competency with select partnerships to augment capabilities

Collaborations with academic

institutes and biotechs

• Competitive partnering

model

• Strategic relationships with several Tier 1 academic institutes globally

• Focus on robust internal

validation

value chain

Significant global development and manufacturing scale-up experience

Robust Go/No-Go process with substantial experimental and external inputs – Kill early, Kill completely

Opportunities to leverage patient pool in India for quick clinical PoC, biomarker validation and more

Multiple assets out-licensed to partners providing validation for the model

Continue to seek asset-

appropriate partnerships

Strategic flexibility to build

out own commercial engine in the future or create alternative structure to unlock value

Access high-quality early stage science globally

Translate efficiently leveraging the cost and patient arbitrage

Maximize value capture through fit-for-asset commercial models

PoC = Proof of Concept

Low cost of failure offers multiple shots on goal for invested capital

Portfolio strategy Focus on innovation in three TAs ripe for disruption

Neurology

Oncology

Immunology

Focus area

Neurodegenerative diseases

Treatment resistance

Autoimmune disorders

Stagnant standards of care in past 10-

Evolving disease landscape

Limited efficacious oral

15 years

driven by treatment resistance

options

Rationale

New breakthroughs in understanding disease biology offering viable targets and biomarkers

Significant unmet needs – availability of abbreviated regulatory pathways

Advanced imaging markers

Focus on quick hypothesis generation, validation and early termination

Using novel biology, molecular engineered entities to address unmet medical needs

Portfolio with multiple modalities viz. mono and multi specific antibodies, Antibody Drug Conjugates, drug

conjugated ligands, etc.

Combined peak sales potential in excess of US$ 20B

Strategic intent

TA = Therapeutic areas

Robust portfolio High-value clinical/late preclinical portfolio that can deliver significant value going forward

Successful partnering and commercialization of assets

NCEs for validated targets and best-in-class assets

Targeting novel biology and newer treatment modalities

Leveraging formulation capabilities

and ELEPSIA XR USFDA approved and commercialized in the US

Licensing of PDP-716 and SDN-037 to Visiox LLC

3 NDAs planned for filing in

2022 (PDP-716, SDN-037 and phenobarbital)

Building on chemistry expertise

Focused on new targets

Vodobatinib CML recruiting patients in pivotal study

Vodobatinib PD & LBD Phase

2 studies ongoing

Vibozilimod licensed to SPIL, under Phase 2 evaluation

SCO-120 under Phase 1

evaluation

In-licensed mAb against an unique target in oncology from Biomodifying LLC

Attractive and Innovative portfolio

• 505(b)(2) programs nearing completion

• Novel modalities added to portfolio

• Multiple first-in-class opportunities

Shift from risk benefit balancing to higher risk taking

Licensed to Tripoint Therapeutics for commercialization in the US

Commercialization initiated in 2021

Tripoint completed field launch meet

and training of sales team

• 40 reps promoting ELEPSIA XR

• ELEPSIA XR active on TX Medicaid

• ELEPSIA XR contracted with ESI

TX Medicaid = Texas Medicaid | ESI = Employer Sponsored Insurance

PDP-716 Phase 3 study successfully met pre-specified endpoints

Equivalent reduction in intraocular pressure was demonstrated across all required time-points

Treatment-emergent adverse events were similar; 38.8% in the PDP-716 group vs. 33.2% with Alphagan® P 0.1% group

NDA filing planned for 2022

2 0 0 0 0 = p

4 1 0 0 0 = p

6 0 0 0 0 = p

* ) g H m m

( P O

7 4 4 0 0 = p

7 9 4 0 0 = p

1 9 2 0 0 = p

1 0 0 0 0 = p

1 0 0 0 0 < = p

2 0 0 0 0 = p

Baseline Week2 Week6 Week12

8.00 AM

10.00 AM

4.00 PM

PDP-716 Once-a-day

Alphagan® P 0.1% Thrice-a-day

Unpublished data, not to be replicated. | NDA = New Drug Approval | IOP = Intraocular Pressure | *NCT03450629

SDN-037 Phase 3 trial met primary and secondary objectives

Statistically significant proportion of patients treated with SDN-037 achieved an ACC grade of 0 versus vehicle with

p-values <0.0001

Generally well tolerated with adverse events consistent with the known safety profile of difluprednate

NDA filing planned for 2022

Primary efficacy analysis

ACC Grade

Responders

SDN-037 N=123 (%)

0 (Did not receive rescue therapy)

84 (68.3)

Non-responders (Received rescue therapy)

p-value

ACC = Anterior chamber cell | NCT03426267

38 (30.9)

1 (0.8)

0 (0.0)

<0.0001

Vehicle N=83 (%)

27 (32.5)

42 (50.6)

13 (15.7)

1 (1.2)

Recently concluded licensing deals Validation of the platform

Antibody in-licensed from Biomodifying LLC

Ophthalmology assets out-licensed to Visiox LLC

1st biologic in-licensed by SPARC

Tumor agnostic opportunity as target

expressed extensively in majority of tumors

Potential to be an anchor for other constructs

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

Biomodifying eligible for upfront payment, milestone payments as well as royalties on sales. In addition, SPARC will pay Biomodifying a percentage of payments received for sublicenses of the licensed IP

PDP-716 and SDN-037 global rights (excluding India and Greater China) out-licensed to Visiox LLC

SPARC eligible to receive an upfront payment, milestone payments and royalty on sales. In addition SPARC also receives 10% equity* in Visiox

SPARC in collaboration with Visiox to file NDA

in 2022

* Subject to approval from regulatory authority | NDA = New Drug Application | mAb = Monoclonal Antibody | LLC = Limited Liability company | IP = Intellectual property

Impact of COVID-19 Measured response by SPARC to ensure continuity of operations

Hybrid working model to ensure that lab operations

Clinical trial disruptions in pharma industry

are minimally impacted

SPARC’s ongoing clinical trials saw lower recruitment

rates, delaying read outs

Measures taken to step up patient recruitment in

ongoing clinical studies

• Remote monitoring

• Patient referral approaches

• Providing logistical and supply chain

management support

1,400

1,200

1,000

800

600

400

200

All Disrupted Trials Delayed Initiation Enrollment Suspension Slow Enrollment

0 2 - r p A - 3

0 2 - r p A - 2 1

0 2 - r p A - 9 1

0 2 - r p A - 6 2

0 2 - y a M - 3

0 2 - y a M - 0 1

0 2 - y a M - 7 1

0 2 - y a M - 5 2

0 2 - n u J - 1

0 2 - n u J - 5 1

0 2 - n u J - 9 2

0 2 - l u J - 7 2

0 2 - g u A - 4 2

0 2 - p e S - 1 2

0 2 - t c O - 9 1

0 2 - v o N - 0 3

0 2 - c e D - 4 1

1 2 - n a J - 5 2

1 2 - b e F - 2 2

1 2 - r a M - 2 2

1 2 - r p A - 5

1 2 - y a M - 3

1 2 - n u J - 1

1 2 - n u J - 8 2

1 2 - l u J - 7 2

Source: GlobalData, Pharma Intelligence Center (Accessed July, 2021)

Fund raise

Rights issue 2: INR250cr/US$38.2mn

Preferential issue of convertible warrants 2: INR1112cr/US$148mn

24.95%

45.95%

75.05%

2016

54.05%

2021

2012

26.29%

2017

6.60%

73.71%

93.40%

Rights issue 1: INR198cr/US$41.4mn

Preferential issue of convertible warrants 1: INR500cr/US$74.5mn

Promoters’ contribution

Others

Recently completed preferential round with ~54% participation of promoter group

Well-capitalized for prosecuting the current clinical portfolio

Enabling resolution approved by shareholders for an additional raise up to Rs. 1,800 Cr (~USD 240 Mn) to progress the

preclinical pipeline and augment the development pipeline through collaborations

Short to near term catalysts driving valuation

Licensing & commercialization of near term assets

Continued progress of clinical NCEs

Early PoC for new platforms

Driving uptake of and ELEPSIA XR

NDA filing of PDP-716,

SDN-037 and phenobarbital in 2022

Vodobatinib PD phase 2

readout in 2023

Clinical PoC of

vibozilimod in 2023

SCO-120 clinical PoC in

Partnering of phenobarbital

2023

in 2022

Vodobatinib CML read

out in 2024

IND filing for 2 preclinical assets in 2023

In-licensing of preclinical assets

Pipeline overview & key 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)

SC0-120

BCR-ABL Inhibitor

Selective ERα Receptor Degrader

Vibozilimod (SCD-044)

Selective S1PR1 agonist

Undisclosed

TAA-1

Parkinson’s Disease

Lewy Body Dementia1

Alzheimer’s Disease

Refractory CML

Metastatic Breast Cancer

Psoriasis

Atopic Dermatitis

Alopecia Areata

Multiple Tumors

PoC data from PROSEEK study in 2023

PoC data in 2023

Pivotal data in 2024

Phase 1 data in 2023

Phase 2 data in 2023

IND Filing Targeted 2023

Preclinical Assets

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

Neurology

Oncology

Immunology

Note: 1. Investigator Initiated Study, MoA = Mechanism of Action | PoC = Proof of Concept | CML = Chronic Myeloid Leukemia | S1PR1 = Sphingosine-1-Phosphate Receptor 1 | ERα = estrogen receptor α | IND = Investigational New Drug TAA-1 = Tumor Associated Antigen-1

Clinical NCE assets Siu-Long Yao

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

Vodobatinib for CML (SCO-088) Potent and highly-selective BCR-ABL inhibitor with good oral bioavailability

Addresses unmet need for patients failing ≥ 3 lines of TKI

therapy in CML

Kinome analysis demonstrates very limited off-target activity

No QT prolongation observed in Phase 1 studies in CML

patients

Orphan Drug Designation granted in:

• The United States in 2019 by USFDA

• The European Union in 2021 by EMA

• Orphan designation provides exclusivity and fee waivers/

reductions

Data from ongoing clinical studies presented/selected for

presentation at international conferences:

• American Society of Hematology (ASH), two years in a row

(2020, 2021)

• European Society of Hematology (ESH), 2021

IC50 < 20nM

IC50 20 - 100nM

CML = Chronic Myeloid Leukemia | TKI = Tyrosine Kinase Inhibitor | EMA = European Medicines Agency | USFDA = United States Food & Drug Administration

Vodobatinib for CML (SCO-088) Durable long-term responses seen across cohorts

53 52 51 50 49 48 47 46 45 44 43 42 41 40 39 38 37 36 35 34 33 32 31 30 29 28 27 26 25 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 9 8 7 6 5 4 3 2 1

Patients on study after:

•

1 year: 68%

2 years: ~47%

Median duration on study (months) = 20.8 (range: 0.5 – 56 months)

Discontinued study drug

On treatment

Data cutoff 29th November 2021 | Unpublished data, not to be replicated | Number on Y-axis represents individual patients

Duration in months

Vodobatinib for CML (SCO-088) Clinical Development Plan and current enrollment status

Healthy volunteer study

Patient study

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

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

Pivotal efficacy study in refractory patients

Enrollment ongoing

BP-CML

N = 43

AP-CML

N = 43

CP-CML

N = 59

Pivotal study: 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

Pivotal data readout expected in 2024

Vodobatinib for neurological diseases Optimal agent to test the c-Abl hypothesis

Mechanism of Action of c-Abl inhibition

Sub-nanomolar potency against

human c-Abl

Very limited off-target activity, leading

to improved safety profile

INACTIVE

LYN FYN

Robust brain penetration (Brain/

Plasma levels around 0.9)

Augments autophagic flux and prevents inactivation of Parkin- mediated mitochondrial quality control

Reduces α-synuclein inclusions

ACTIVE

OXSTRESS

MITO DYNAMICS

PGC1α

PARIS

PARKIN

α-SYNUCLEIN AGGREGATES

ABL INHIBITORS

OTHER SUBSTRATES

Reduces neuronal toxicity caused by the aggregated neurotoxic proteins

Vodobatinib for PD (SCC-138) Potentially first-in-class disease-modifying treatment for Parkinson’s Disease

Descending time in pole test

p=<0.0001

p = 0 . 0 2 0 5

p = 0 . 0 0 0 3

p=>0.9999

) c e S (

e m

i t g n d n e c s e D

PBS+ Vodobatinib Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Vodobatinib Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

Preclinical data in PFF mouse model indicating potential disease-modifying activity of vodobatinib

Study conducted by the Ted Dawson lab, Johns Hopkins University. | Unpublished data; not to be replicated. | PBS = Phosphate-buffered saline | PFF = Preformed fibril Image adapted from https://www.meliordiscovery.com/in-vivo-efficacy-models/pole-test/

Completed toxicology and safety pharmacology studies

Acute tox in the mouse and rat by oral route, and in rat by ip route

Repeat dose oral tox

•

Rat: 1 month, 3 month and 6 month

Beagle dog: 14 day, 3 month, 9 month

Genotoxicity

•

In-vitro Ames test and chromosomal aberration

In-vivo mouse micronucleus test

Repro Tox

• Male fertility study in rat

• Fertility and early embryonic development in rat

• Prenatal and postnatal development in rat

• Embryofetal study in rat and rabbit

Slight eye irritation and no dermal irritation in local irritation studies

CVS Safety

• hERG Inhibition: 2.1% at 1 µM & 9.7% at 10 µM

•

Dog Telemetry: No effects on QT, QTc, BP or any CV parameter at studied doses of 3, 10 and 30 mg/kg

ip = Intra peritoneal | CVS = Cardio vascular system | CV = Cardio vascular | BP = Blood pressure | Unpublished data; not to be replicated

Superior pharmacological properties of vodobatinib compared to that of nilotinib

CSF levels associated with efficacy in the PFF mouse model have been determined

and provide the target level for human

Vodobatinib has been dosed up in human with concomitant CSF concentration

measurements and the target level is achievable

Vodobatinib is approximately 20-fold more potent than nilotinib in the human Abl

kinase assay

Achievable vodobatinib levels in the CSF are approximately 10-fold higher than for

nilotinib. Nilotinib cannot be dosed any higher due to black box warning

The Cavg,CSF /IC50 ratio is approximately 200-fold higher than nilotinib, therefore both

in the numerator and denominator vodobatinib is superior

Vodobatinib does not exhibit QT prolongation which is observed and dose limiting

in case of nilotinib

Vodobatinib is not removed by efflux transporters in the CNS whereas nilotinib is

vulnerable to this transporter system

CSF = Cerebrospinal fluid | PFF = Preformed fibril | CNS = Central nervous system | Unpublished data; not to be replicated

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

Follow up

PART 2 Weeks 41 to 76

Vodobatinib 384mg

Vodobatinib 192mg

Patient continues into extension part of protocol

PROSEEK

84 sites across US, Europe and India functional; recruitment ongoing to complete enrollment in 2022 Over 40% patients randomized

(N=218)

Phase 2 readout expected in 2023

Open-label extension study

Patients enrolled into long-term extension part of the protocol to establish long-term safety and tolerability in Parkinson’s disease treatment

PROSEEK protocol amended to include

open-label extension study

Patient enrollment initiated under

open-label extension study to continue treatment

Data cut-off date: 26th Nov 2021 | 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

PROSEEK outcome measures

Primary outcome: change in MDS-UPDRS part 2 + part 3 (combination of subject report and neurological exam) from baseline to end of treatment

Secondary outcomes:

•

Time to start of symptomatic medication

• CGIS - clinician global impression of severity

• PK/PD correlations

Exploratory outcomes:

• DaT SPECT at beginning (in all subjects for eligibility) and end

• Skin biopsy for synuclein deposition at baseline and Week 36

• Smartphone-based measure of motor performance

• Exploratory CSF markers

MDS-UPDRS = Movement Disorder Society-Unified Parkinson’s Disease Rating Scale | PK = Pharmacokinetic | PD = Pharmacodynamic | CSF = Cerebrospinal fluid

Vodobatinib for Lewy Body Dementia

RANDOMIZATION

PLACEBO

(N=15)

VODOBATINIB

96mg (N=15)

VODOBATINIB

192mg (N=15)

Recruitment ongoing in a 12-week Phase 2 study

Concentration of LBD related plasma and CSF

in collaboration with Georgetown University

Over 30% patients randomized (N=15)

Safety and tolerability being evaluated as a

primary outcome

biomarkers form the set of secondary outcome measures

Data readout in 2023

CSF = Cerebrospinal fluid | Data cut-off date: 26th Nov 2021 | NCT03996460

Vibozilimod (SCD-044) Highly-selective S1PR1 modulator with better safety profile than fingolimod

S1PR1 Modulator Landscape

Multiple approved S1PR1 modulators including fingolimod, ozanimod and etrasimod in Phase 3

Fingolimod is the 1st in class S1P receptor agonist approved, but being non-selective modulator, fingolimod is associated with serious cardiac side effects

Vibozilimod being highly-selective for S1P receptor 1 (S1PR1) over S1PR3 which is associated with serious side effects in case of fingolimod

Higher selectivity for S1PR1 is expected to provide better safety profile

S1PR1 agonists

Vibozilimod1

Fingolimod2

Ozanimod3

Ponesimod4

Etrasimod5

Vibozilimod clinical summary

Multi-part Phase 1 study completed in healthy volunteers

Phase 2 PoC studies initiated in Psoriasis and Atopic Dermatitis

Phase 2 readout expected in 2023

EC50 (GTPϒ35S assay)

S1PR1

S1PR3

S1PR5

0.2

1.2

0.41

5.7

6.1

>10,000

1.4

>10,000

4.9

24.4

Note: Vibozilimod licensed to Sun Pharmaceutical Industries Limited 1. Selectivity data from company trials and presentations | 2. JMC, 2005, 48, 5373–77; Nature 510,58–67, June 2014 | 3. BJP (2016), 173, 1778-92 | 4. JPET, 337: 547-556, 2011. 5. ACS Med. Chem. Lett. 2014, 5, 1313-37 (β arrestin assay) | S1PR1 = Sphingosine-1-Phosphate Receptor 1 | S1PR3 = Sphingosine-1-Phosphate Receptor 3

Vibozilimod (SCD-044) Pharmacodynamic and Safety Established in Phase 1 Study

Multi-part Phase 1 study completed in healthy volunteers

Single Ascending Dose

Six dose levels in males and one dose level in females

~55% lymphocyte count decrease following 1 mg dose

Multiple Ascending Dose

Four dose levels including two dose up-titration

schemes in males and one dose up-titration scheme in females

~60% lymphocyte count reduction observed at 1 mg

dose with asymptomatic bradycardia

Reduction in lymphocyte count confirms potential

efficacy of vibozilimod

e n

i l

e s a B m o r f

e g n a h C %

) l

m \ g n ( n o i t a r t n e c n o C

a m s a P n a e M

Lymphocyte count reduction1

PK profile1

Time (h)

Note: 1. Phase 1 part 1 SAD study, 2 mg dose. | SCD-044 licensed to Sun Pharmaceutical Industries Limited | PK = Pharmacokinetic | Unpublished data; not to be replicated

Vibozilimod (SCD-044) 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

s t n e m

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

Placebo

Vibozilimod Intermediate Dose

Vibozilimod High Dose

Vibozilimod Low Dose

PASI50 response Continue to Vibozilimod Low Dose

< PASI75 response at week 28

Discontinue

Vibozilimod Intermediate Dose

Vibozilimod High Dose

<PASI50 response Switch to Vibozilimod High Dose

PASI75 response at week 28

Continue on existing regimen

Continue the assigned treatment

Future Milestones and Expected Timeline

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

2022

2023

TBD

Start patient dosing

Clinical PoC

Phase 3 Start

Phase 3 Finish

Commercial Launch

PASI = Psoriasis Area and Severity Index | NCT04566666

Vibozilimod (SCD-044) 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

Screening Assessments

Vibozilimod Low Dose

Vibozilimod Intermediate Dose

Vibozilimod High Dose

Treatment free Follow-up

Future Milestones and Expected Timeline

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

2022

2023

TBD

Start patient dosing

Clinical PoC

Phase 3 Start

Phase 3 Finish

Commercial Launch

EASI = Eczema Area and Severity Index | POC = Proof of Concept | NCT04684485

SCO-120 Novel orally-active selective ERα degrader for the treatment of HR+/HER2- breast cancer

About 200,000 women are estimated to be diagnosed

with HR+/HER2- breast cancer in 2021 in US

• 20% to 30% acquire ESR1 mutations

IM fulvestrant is the only approved SERD for patients

failing on 1st line of treatment

• Poorly active against mutations

In healthy volunteers, SAD study completed and MAD

study ongoing#

No ≥Grade 3 events reported; generally safe and well

tolerated

Patent filed with estimated expiry in 2040

t n e c r e P

100

5-Year relative survival*

% 0 9 9

% 8 5 8

% 0 9 2

Localized

Regional

Distant

Stage of disease

SCO-120 Prolonged survival in preclinical brain-metastasis model expressing wild type ERα

100

a v i v r u s

t n e c r e P

Vehicle

SCO -120 (low dose)

SCO -120 (mid dose)

SCO -120 (high dose)

RAD-1901 (100 mpk)

Fulvestrant (50, 25 mpk)

***

8 week treatment

Days post cells inoculation (0.3 million cells/animals)

Effectively crosses blood–brain barrier with higher accumulation in brain and tumor compared to plasma

SCO-120 treated mice showed significant increased survival compared to RAD-1901 and fulvestrant

Potential to be an active treatment for HR+/HER2- breast cancer patients with brain metastases

Unpublished data; not to be replicated | ERα = Estrogen Receptor α

SCO-120 Clinical development plan and upcoming milestones

Study design

Sample size of the study

Key assumptions for endpoints

Part I - Dose escalation – Up to three cohorts

Part 2 – Efficacy exploration in a single cohort

Part 1 – Up to 15 patients

Part 2 – Up to 30 patients

Part 1 – PK, Safety

Part 2 – ESR1, Tumor Biopsy (Biomarker)

Part 1 and 2 – Tumor Response

Future milestones and expected timeline

2022

2023

TBD

Start patient dosing

Clinical PoC

Phase 3 Start

Phase 3 Finish

Commercial Launch

PK = Pharmacokinetic | ESR1 = Estrogen receptor 1

Phenobarbital injection Preservative-free injection of phenobarbital for treatment of neonatal seizure

80% of the neonatal seizure patients respond to phenobarbital injection vs.

28% responding to Levetiracetam injection

Existing marketed product is not approved by USFDA and contains benzyl

alcohol as a preservative

Benzyl alcohol has been associated with “Gasping Syndrome” in neonates

and low birth weight infants

SPARC’s preservative-free injection products received Orphan Drug

Designation in October 2019

NDA filing in 2022

USFDA = United States Food and Drug Administration | NDA = New Drug Application

34 34

Anti TAA-1 & other preclinical programs Nitin Damle

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

35 35

Molecularly engineered precision medicine For oncology and/or inflammatory diseases

Tumor-targeted scFvFc

Tumor-targeted T-cell engager

Bispecific Bivalent or Cis scFvFvFc

scFv

IgG

Anti-CD3 scFv

Anti-tumor scFv

Modular platform

Multiple product opportunities

Immuno-enhancing immunofusions for cancer therapy

Immuno-inhibitory anti- inflammatory immunofusions for use in inflammatory diseases

Expedited creation and evaluation of biologics

Potent Cytotoxic Drug

Cytokine

Tumor-targeted Antibody-Drug Conjugate

Tumor-targeted Drug Conjugate of scFvFc

Tumor-targeted Immunocytokine

Bispecific bivalent Trans scFvFcFv

Trispecific bivalent scFvFvFcFv

IgG = Immunoglobulin G | scFV = Single-chain variable fragment | scFc = Single-chain crystalizable fragment

SPARC ADC binds and exerts cytotoxicity against target-expressing cells

SPARC-ADC cytopathic assay in a pancreatic cancer cell line

SPARC ADC D-6A1

SPARC ADC D-6A2

aCD20 D-6A5

aCD20 D-6A6

a v i v r u S %

100

a v i v r u S %

100

0.1

100

1000

0.1

100

1000

Evidence of potent cytotoxicity of SPARC ADC against TAA-1 over-expressing pancreatic carcinoma cell line

100-fold greater potency over a nonbinding ADC of the same payload targeted to CD20

ADC = Antibody Drug Conjugate | TAA-1 = Tumor Associated Antigen-1 | CD20 = Cluster of differentiation

Antitumor efficacy of SPARC ADC Efficacy established in multiple xenograft models

Pancreatic carcinoma xenograft

Ovarian carcinoma xenograft

) 3

m m

(

e m u o V r o m u T

3000

2500

2000

1500

1000

500

Vehicle CD20 ADC Toxic payload SPARC ADC low dose SPARC ADC mid dose SPARC ADC high dose Nab-PTX

) 3

m m

(

e m u o V r o m u T

1750

1500

1250

1000

750

500

250

Vehicle CD20 ADC SPARC ADC low dose SPARC ADC mid dose SPARC ADC high dose Nab-PTX

Days

Dose-dependent growth inhibition of xenografts of pancreatic and ovarian carcinomas using SPARC ADC

Control nonbinding anti-CD20 ADC as well as unconjugated cytotoxic agent were ineffective

ADC = Antibody Drug Conjugate | Nab-PTX = Nanoparticle albumin-bound Paclitaxel | Arrows denote dosing timepoints

Anti TAA-1 platform, next steps and medium term vision

Advance the Anti TAA-1ADC through preclinical development with IND

submission in 2023

Explore additional tumor-targeting specificities for creation of drug

conjugates

In light of the broad expression of TAA-1 in cancer, create and preclinically

evaluate a series of additional immune-fusions anchored on TAA-1 targeting

TAA-1 targeted T-cell engager (TCE)

Bispecific TAA-1 targeted immune-fusion with anti-angiogenesis activity of

TCEs

Bifunctional TAA –1 targeted immunocytokine(s) to enhance antitumor

activity

TAA-1 targeted nanoparticles for preferential tumor-focused delivery of other

targeted agents

Potential for multiple biologic product INDs in the next five years

TAA-1 = Tumor Associated Antigen-1 | ADC = Antibody Drug Conjugate | IND = Investigational New Drug

39 39

Overview of key pre-clinical programs

Programs

Summary

Anti TAA-1 Platform

Cancer resistance

Tumor agnostic opportunity, ADC & Immunofusions.

First-in-class mAb against a tumor antigen

Cancer resistance

Tumor agnostic opportunity, Potential ADC & Immunofusions.

Synthetic conjugate

Cancer resistance

Targeted delivery in Prostate Cancer

First-in-class against a Inflammation Target

Immunology

NCE for alopecia areata

SPARC preclinical pipeline offers several first-in-class opportunities across modalities to move standards of care in significantly unaddressed diseases

TAA-1 = Tumor Associated Antigen-1 | ADC = Antibody Drug Conjugate | NCE = New Chemical Entity

Financial update Chetan Rajpara

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

41 41

Financial summary

Year

USDINR

FY17

FY18

FY19

FY20

FY21

H1 FY22

67.07

64.46

69.95

70.91

74.23

73.92

Total Income

Total Expenses

Exceptional Item

195

314

329

196

342

Profit / (Loss) after Tax

(119)

(197)

(145)

Total Income

Total Expenses

Exceptional Item

29.0

46.8

Profit / (Loss) after Tax

(17.7)

12.9

51.1

7.6

(30.6)

28.1

48.9

(20.8)

399

(312)

12.2

56.3

(44.1)

258

410

(151)

34.8

55.2

(20.4)

Rs. Cr

173

(117)

USD Mn

7.6

23.4

(15.8)

Cash and liquidity

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

Of this, contribution by promoters Rs. 600 Cr (~USD 80 Mn), balance Rs. 512 Cr (~USD 68 Mn) by 30 external investors,

including 8 FPIs

Received Rs. 278 Cr (~USD 37 Mn) being 25% payable on application

Balance 75% i.e. Rs. 834 Cr (~USD 111 Mn) to be received within 18 months upon conversion of warrants by investors

Cash on hand Rs. 12 Cr (~USD 1.6 Mn) as on November 30, 2021

Line of credit from parent company Rs. 250 Cr (~USD 33 Mn) and bank facility for Rs. 218 Cr (~USD 29 Mn) in place, of

which Rs.100 Cr (~USD 13 Mn) is utilized

Obtained shareholder approval for raising additional sum up to Rs. 1,800 Cr (~USD 240 Mn) by way of issuance of fresh

equity or debt

In process of licensing certain late-stage clinical assets, to generate additional liquidity

FPI = Foreign portfolio investor

Thank You

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