SPARCNSE28 December 2021

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

Sun Pharma Advanced Research Company Limited

SPARC/Sec/SE/2021-22/079

December 28, 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

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith the presentation, which the Company will be using at the meeting(s) to be conducted with the investors from today i.e. December 28, 2021 onwards.

The said presentation will also be uploaded on the Company’s website, after sending this letter to you.

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

Corporate Overview December 2021

©SPARC –For Discussion Purposes Only

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.

SPARC timeline Built a robust R&D engine over 15 years

Integrated translation advancing standard of care in difficult-to-treat diseases

Incubated out of Sun Pharma, India’s largest pharmaceutical company Spun out in 2007 to an independent listed entity Focus on exploratory programs and capability development

Initial focus on Medicinal Chemistry and Formulations Success with Lipodox Multiple delivery systems innovations Substantial investments in discovery & translational development

US FDA Approvals of Xelpros and Elepsia NCEs enter clinical Development Focus on strategic partnering to access early science

Growing NCE pipeline 3 more NDA submissions Forays into ADCs & Immunofusions Poised to grow its multi- modality platform in CNS, Oncology & Immunology

2007-2010

2011-2014

2015-2019

2020 & beyond

Trading/Financial Summary

31.3%

$3.40

Share Price $ (as of 12/10/21) Premium / (Discount) to 52-Week High

Equity Value, T USD Mn

Less : Cash USD Mn

Plus : Debt USD Mn

Enterprise Value USD Mn

$3.40 (20%)

$892

(11)

$901

$0 Dec-20

Feb-21 Apr-21

Jun-21 Aug-21 Oct-21 Dec-21

Investment highlights

4 Clinical Stage Programs Targeting Areas of High Unmet Need

Targeting large addressable patient populations with USD 20Bn+ combined peak sales potential in 6 indications within Oncology, Neurology, and 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 an ADC 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 USD 400Mn 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

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)

BCR-ABL Inhibitor

SCO-120

SERD

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

Vodobatinib for Neurodegenerative Diseases (SCC-138) A potential first-in-class disease modifying therapy

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

Mechanism of Action of c-Abl inhibition

INACTIVE

LYN FYN

OXSTRESS

MITO DYNAMICS

PGC1α

PARIS

PARKIN

Vodobatinb is a potential first-in-class c-Abl inhibitor for Parkinson’s disease

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

Reduces α-synuclein inclusions

Sub-nanomolar potency against human c-Abl

Very limited off-target activity, leading to improved safety profile

ACTIVE

Robust brain penetration (Brain/ Plasma levels around 0.9)

α-SYNUCLEIN AGGREGATES

Selective Abl inhibition

ABL INHIBITORS

OTHER SUBSTRATES

Reduces neuronal toxicity caused by the aggregated neurotoxic proteins

Family

Abl

SFK

Kinases Abl (Abl-1) Arg (Abl-2)

IC50 (nm) 0.9 0.8

Src Fyn Hck Lck Lyn Yes PTK5

90.0 18.0 54.0 17.0 18.0 28.0 3.0

Behavioral assessments in the PFF- induced mouse model

In the MPTP1 mouse model, Vodobatinib prevents neuronal degeneration in substantia nigra

In the PFF2 induced mouse model, vodobatinib shows target engagement, reduction in Serine 129 phosphorylation of α-Synuclein, preservation of dopaminergic neurons and clinical improvement in motor and cognitive functions

In the AAV3 driven rat A53T α-synuclein model, vodobatinib shows neuroprotection

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 (

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i t g n n r u T

Turning Time in Pole Test

Descending Time in Pole Test

3 4 0 0.0 > = p

9 9 9 0.9 > = p

1 1 0.0 = p

p=>0.9999

p=>0.0001

p=>0.9999

5 0 2 0.0 = p

3 0 0 0.0 = p

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PBS+ Vodobatinib Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Vodobatinib Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

PBS+ Vodobatinib Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Vodobatinib Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

Vodobatinib treatment improves PFF-induced deficits in Grip Strength

Grip Strength: Fore Limbs

Grip Strength: All Limbs

p = 0 . 3 5 4 8

p = 0 . 0 0 2 8

p = 0 . 5 7 0 3

p = 0 . 0 1 8 4

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1. Data generated in-house | 2. Study conducted at the Ted Dawson Lab, Johns Hopkins University | 3. Study conducted by Atuka Inc. Unpublished data; not to be replicated or shared | PBS = Phosphate-buffered saline | PFF = Preformed fibril

PBS+ Vodobatinib Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Vodobatinib Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

PBS+ Vodobatinib Placebo

PBS+ Vodobatinib 45mg/kg

PFF+ Vodobatinib Placebo

PFF+ Vodobatinib 15mg/kg

PFF+ Vodobatinib 45mg/kg

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

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

1.0

0.8

0.6

0.4

0.2

AAV EV

AAV hA53T α-synuclein

Vehicle

Vodobatinib 15mg/kg

Vodobatinib 30mg/kg

Vodobatinib 45mg/kg

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

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 doses provides protection of dopaminergic neurons

Study conducted by Atuka Inc. | Unpublished data; not to be replicated or shared.

Vodobatinib met the brain exposure targets in early clinical studies Summary of completed toxicology, safety pharmacology and clinical studies

Preclinical toxicology update

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

Repeat dose oral tox in rat (upto 6 months) and beagle dog (upto 9 months)

Genotoxicity (In vitro Ames’ Test and In vivo mouse micronucleus study)

Repro toxicity

Safety Pharmacology, including CVS safety

Clinical summary

Phase 1 completed in healthy subjects, PD subjects up to 384mg

• Overall well tolerated

• PK suggests adequate brain penetration

over 24 hours

Trial

Population Status

Phase 1 MAD

PD any stage

Phase 1

Healthy men

Phase 1 Crossover study

18 Healthy subjects per cohort

cohorts of 8 subjects each on 14 days of Vodobatinib or placebo capsules (6:2 randomization) 6, 12, 24, 48, 96, 192, 384mg

48, 192mg, 384mg x7 days with 24 hours of CSF sampling on day 7. Study complete

192mg powder vs 192 mg capsule 384mg powder vs 192mg capsule 384mg powder fed vs fasting

Safety findings

Well tolerated

Mild AEs

No significant concerns

CVS = Cardiovascular System | PK = Pharmacokinetic | CSF = cerebrospinal fluid | AE = Adverse Events

Vodobatinib for Parkinson's Disease Recruitment on track to achieve Phase 2/PROSEEK enrollment target in 2022

Screening

Randomization

Placebo (N=168)

Vodobatinib 384mg (N=168)

Vodobatinib 192mg (N=168)

PART 1 Weeks 0 to 40

Follow up

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

Primary outcome

Change in MDS-UPDRS Part 2 + Part 3 from baseline to end of treatment

Secondary outcomes:

Time to start of symptomatic medication

CGIS - clinician global impression of severity

PART 2 Weeks 41 to 76

Vodobatinib 384mg

Vodobatinib 192mg

PK/PD correlations

Exploratory outcomes:

Patient continues into extension part of protocol

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

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

Opportunities beyond Parkinson’s Disease Dementia with Lewy Bodies offers an immediate next opportunity

DLB is a neurodegenerative condition with progressive cognitive impairment, hallucinations and parkinsonism

•

Estimated to affect about 1.4 million people in the USA*

• 2nd most common cause of dementia in the elderly

Strong overlap with Parkinson’s Disease

Synucleinopathies with Lewy Bodies seen on autopsy. Pathophysiology similar to PD suggesting potential efficacy in DLB

Investigator-initiated trial in collaboration with Georgetown University, Washington on-going in subjects with DLB

RANDOMIZATION

PLACEBO

(N=15)

VODOBATINIB

96mg (N=15)

VODOBATINIB

192mg (N=15)

*https://ghr.nlm.nih.gov/condition/dementia-with-lewy-bodies

Vibozilimod (SCD-044) - A Selective S1PR1 Agonist A safer alternative to JAK inhibitors

Vibozilimod (SCD-044) 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 being a non-selective modulator, is associated with serious cardiac side-effects

Multiple S1PR1 modulators are approved (siponimod and ozanimod) for non-dermatology indications; vibozilimod has opportunity to lead the field in dermatology

Recent safety concerns related to JAK inhibitors (including topical/locally delivered agents) increase the significance of S1PR1 agonists as a ‘class alternative’ in several autoimmune disorders, particularly in dermatology

Developed in collaboration with a French biotech company, Bioprojet – SPARC in-licensed Bioprojet’s share of IP in 2019

Highly-selective for S1PR1 over S1PR2 and 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 agonists

Vibozilimod1 Fingolimod1 Ozanimod1 Ponesimod1 Etrasimod1

S1PR1

0.2 0.4 1.9 ~1 1.5

EC50 S1PR3

>10,000 7.7 >10,000 NA ~1000

S1PR5

9 2.2 3.5 10.7 0.7

Vibozilimod licensed to Sun Pharma with around ~50% economics retention

IBD=Inflammatory Bowel Disease | Vibozilimod (SCD-044) licensed to Sun Pharmaceutical Industries Ltd | 1. Selectivity data generated in-house

Vibozilimod (SCD-044) Pharmacodynamics 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

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Lymphocyte count reduction1

PK profile1

Time (h)

1. Phase 1 part 1 SAD study, 1 mg dose. | Vibozilimod (SCD-044) licensed to Sun Pharmaceutical Industries Limited | PK = Pharmacokinetic

Vibozilimod (SCD-044) for psoriasis Clinical proof-of-concept by 2023

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

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

p u - w o

l l

o F

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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 enrolling in the US. Expected to accelerate expansion to Latin America and Europe to accelerate in the coming months

s t n e m

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

PASI = Psoriasis Area Severity Index | NCT04566666 (SCD-044-19-14, Version 1, September 23, 2020) | Vibozilimod (SCD-044) licensed to Sun Pharmaceutical Industries Limited

Vibozilimod (SCD-044) for atopic dermatitis Clinical proof-of-concept by 2023

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

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 enrolling in the US. Expected to accelerate expansion to Latin America and Europe to accelerate in the coming months

EASI = Eczema Area Severity Index | POC = Proof of Concept | NCT04684485 (SCD-044-19-16, Version 1, November 9, 2020) | Vibozilimod (SCD-044) licensed to Sun Pharmaceutical Industries Limited

Anti TAA-1 Asset Targeting an antigen expressed in a wide spectrum of tumors

SPARC ADC binds and exerts cytotoxicity against target-expressing cells

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

ADC against a novel tumor associated antigen as a target

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 20

Antitumor efficacy of SPARC ADC Efficacy established in multiple xenograft models

Pancreatic carcinoma xenograft

Ovarian carcinoma xenograft

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

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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

SPARC ADC: next steps

Advance anti TAA-1 ADC 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

Vodobatinib in CML (SCO-088) A safer, last-line option for heavily pre-treated patients

Vodobatinib for CML (SCO-088) Promising Last Line Therapy

CML Overview

Market Opportunity

Product Overview

Clinical Summary

CML is caused by a translocation of the abl gene that results in formation of Philadelphia Chromosome

Branded 2nd and 3rd generation TKIs retain high commercial value due to refractory nature of CML, despite genericization of 1st generation TKI

Targeting patients who are refractory and/or intolerant to other TKIs

Phase 1 completed in CML subjects

Prior to the discovery of BCR-ABL inhibitors, CML was a fatal disease with an 8-year survival rate of ~6%

Tyrosine kinase inhibitors have changed the prognosis of CML, but patients eventually can become resistant to drugs

Annual incidence of CML is likely to increase at a rate of 1–2 cases per 100,000 adults, est. 8,000 people in US in 20201

Large market opportunity – US drug sales of the CML TKIs over $3Bn2

Well tolerated with significant coverage of the mutational field

Favorable safety and tolerability

Unmet need for a potent and safe drug in patients with ≥ 3 lines of failure including failure of Ponatinib, given

Has shown promising activity in clinical trials

Registration study underway. Planned US NDA filing in 2024

• Almost half of patients will have

recurrence within 5 years of initial therapy

• One-third of 2nd line patients and est. 40% of 3rd line patients are refractory or relapse within a year of initiation of that line of therapy

Orphan Drug Designation and Accelerated Approval pathway agreed with USFDA

TKI = Tyrosine Kinase Inhibitor | 1. SEER database Cancer Stat Fact | 2. IQVIA 2021

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

Pivotal (Part C) study ongoing

Clinical Development Plan

Part A

Part B

Part C

Single Ascending Dose study (SAD) in volunteers

Multiple Ascending Dose study (MAD) in patients

Pivotal efficacy study in refractory and/or intolerant patients to 3 prior TKIs

Orphan Drug Designation approved by USFDA and EMA • Market exclusivity in addition to IP coverage • User fee waiver

EOP1 discussion completed; agreement with USFDA reached on accelerated approval pathway based on Part C (pivotal study)

Efficacy

Safety and Tolerability

Cytogenetic Response

(% patients with MaCyR)

2020

2019

L M C - P C

100

CCyR Maintained

CCyR Archieved

PCyR Archieved

Major Cytogenetic response in 67% of the enrolled subjects Major Cytogenetic response in 54% of the enrolled subjects that meet pivotal study criteria

Generally well tolerated with slight excess of GI and hematological AEs

All Treatment Emergent AEs (Cases)

Total

Total Grade

Related AEs

3&4

Planned US NDA filing in 2024

SCO-120 for HR+/HER2- MBC Potent oral SERD with preferential brain penetration

Oral SERD for Breast Cancer (SCO-120)

Breast Cancer Overview

Market Opportunity

Product Overview

Clinical Summary

Breast cancer is the second most common cancer diagnosed in women in the United States1

Annual incidence of ~2 million patients across the world1

~70% of the breast cancer is HR+/HER2-1

Hormonal therapy is SoC for ~70% of HR+/HER2- metastatic breast cancer patients1. ERα mutations develop in 20–50% of patients with metastatic disease

Treated mostly with SERMs, 20–50% patients experience mutations or become resistant

SERD can break down receptors and prevent cells from dividing. IM Fulvestrant is the only approved SERD but it is poorly active against mutations at therapeutic dose

SCO-120 is a novel orally-active SERD for the treatment of HR+/HER2- breast cancer

Active in vitro (nM to sub nM potency) and in vivo in xenograft models against WT ERa and its mutants Y537S and D538G

In vitro and in vivo studies have shown potential for combination with CDK4/6 inhibitors (palbociclib) in both the WT ERa and the mutation setting

Favorable Tox profile; No adverse effects seen in battery of in vivo safety pharmacology studies of central nervous system, cardiovascular system, and respiratory system

US IND filed in Jan 2020

SAD and MAD in healthy volunteers ongoing

50 – 1200 mg cohorts completed. Generally safe and well tolerated, no significant AEs

In vivo efficacy of SCO-120 in combination with palbociclib Promising activity against resistant mutants alone and in combination with palbociclib

Tumor staging

Treatment duration and tumor monitoring

E2 Pellet# Cell injection

Day 1 Dosing initiation

Combination of palbociclib with SCO120 or fulvestrant:

SCO120, p.o., 25 mpk, daily for 4 weeks or fulvestrant (50 & 25mpk* or 100 mpk, 2x/week) ± palbociclib p.o., 45 mpk, daily for 4 weeks

Day 28 Dosing Completion

MCF7-WT

Vehicle

Palbociclib (45 mg/kg)

SCO-120 (25 mg/kg)

Fulvestrant (50 & 25 mg/kg)

SCO-120 (25 mg/kg) + Palbociclib (45 mg/kg)

Fulvestrant (50 & 25 mg/kg) + Palbociclib* (45 mg/kg)

MCF7-Y537S

Vehicle

Palbociclib (45 mg/kg)

SCO-120 (25 mg/kg)

Fulvestrant (50 & 25 mg/kg)

SCO-120 (25 mg/kg) + Palbociclib (45 mg/kg)

Fulvestrant (50 & 25 mg/kg) + Palbociclib (45 mg/kg)

MCF7-D538G

Vehicle

Palbociclib (45 mg/kg)

SCO-120 (25 mg/kg)

Fulvestrant (50 & 25 mg/kg)

SCO-120 (25 mg/kg) + Palbociclib (45 mg/kg)

Fulvestrant (50 & 25 mg/kg) + Palbociclib (45 mg/kg)

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Days post treatment initiation

*Fulvestrant group received 50 mg/kg as loading dose thrice- weekly for first week, followed by 25 mg/kg twice weekly for remaining 3 weeks | *p < 0.01 | ****p < 0.0001 as compared to vehicle treated group n.s.-non significant

SCO-120 advantage in brain metastases 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 enters patient trials in 2022 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

PK = Pharmacokinetic | ESR1 = Estrogen receptor 1

Concluding Remarks

Company highlights

Successful Track Record of Development and Commercialization along with a Robust Pipeline

Targeting High Value Opportunities

Through an Innovation- focused R&D Platform with an Efficient Cost Structure

USD 20Bn+

350+

USFDA approved drugs (XelprosTM, ElepsiaTM)

Combined peak sales potential for NCEs currently under clinical development

Scientists across 4 research centers. Growing presence in the US (Princeton, NJ)

Indications targeted through 4 NCEs under clinical development

6 Licensing partners1

10+

Preclinical programs in R&D pipeline covering 3 therapeutic areas

1. Licensing partners include Bioprojet, CMS, Sun Pharmaceutical Industries Ltd. (Sun Pharma), Tripoint Therapeutics, Biomodifying, and Visiox.

250+

Years of experience of management

Ongoing collaborations with universities / companies

Highly experienced management team with global experience

Anil Raghavan Chief Executive Officer

Responsible for strategic prioritization and portfolio decisions Past experience:

Nitin Damle Chief Innovation Officer

Leads the development of Biologics Past experience:

Siu-Long Yao Head, Clinical Development & Operations

Oversees design & execution of clinical research globally Past experience:

Chetan Rajpara Chief Financial Officer

Nitin Dharmadhikari Head, Operational Excellence & COEs

Trinadha Rao Chitturi Head, Drug Discovery

Responsible for finance, accounts, taxation and legal & secretarial functions Past experience:

Responsible for New Initiatives, management of COEs and QA Past experience:

Oversees Medicinal Chemistry, In-Vitro Biology, Bio-informatics & Process Development Past experience:

Years with SPARC

Years of experience

Highly experienced management team with global experience

Vikram Ramanathan Head, Translational Development

Shravanti Bhowmik Head, Program Management

Yashoraj Zala Head, Drug Delivery Systems

Responsible for Preclinical Pharmacology, Drug Metabolism & PK and Bioanalysis, and Regulatory Toxicology Past experience:

Oversees all aspects of the development / implementation of projects and programs Past experience:

Responsible for drug formulation and analytical development Past experience:

Rajesh Ranganathan Head, Partnerships and Portfolio Strategy

Shanta Gupta Chief Human Resource Officer

Oversees external partnerships and portfolio management Past experience:

Responsible for the organization’s human capital management Past experience:

Years with SPARC

Years of experience

Scientific advisory board consisting of globally recognized experts

Phil Needleman, PhD Washington University in St. Louis

Rakesh Jain, PhD Massachusetts General Hospital Hospital

Robert Spiegel MD, FACP1 Weill Cornell Medical College, PTC Therapeutics

Mark Simon, MBA2 Torreya Partners, Citigroup, Robertson Stephens, Kidder Peabody

Alan Ashworth, PhD, FRS UCSF ICR London

Jorge Cortes, MD Medical College of Georgia MD Anderson

Adrian Ivinson, PhD DRI UK, Nature, Harvard Medical School

Charbel Moussa, MBBS, PhD Georgetown University

1. Member of the Board of Directors | 2. Board Advisor

Established and supported by marquee industry leader

Shareholding (as on 30th Sep. 2021) Dilip Shanghvi 11%

Public 32%

Promoter group entities 57%

Providing continuous support and investments

Dilip Shanghvi Chairman

Founded Sun Pharma in 1983. (Current market cap of USD 24Bn+*)

Has 35+ years of industry experience

Awards and recognitions: Padma Shri (Fourth highest civilian award by Govt. of India) in 2016, Forbes Entrepreneur of the year – 2014, Economic Times Business Leader of the Year (2014), CNN IBN’s Indian of the Year (Business) (2011) and Ernst and Young’s World Entrepreneur of the Year (2011).

Rights issue 2: INR250cr/USD 38Mn

Preferential issue of convertible warrants 2: INR1112cr/USD 148Mn

25%

46%

75%

54%

2016

2021

2012

26%

74%

2017

93%

Rights issue 1: INR198cr/USD 41Mn

Preferential issue of convertible warrants 1: INR500cr/USD 75Mn

Promoters’ share

Others

Completed preferential issue for INR 1112 Cr. (USD 148Mn) in July 2021

Well-capitalized for prosecuting the current clinical portfolio

*As of 13th December, 2021 | Percentage and figures rounded off to nearest number

Thank You

The SPARC Logo is a trademark 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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