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1 Molecular Partners: Building Tomorrow’s Breakthroughs Corporate Presentation Molecular Partners AG, Switzerland (SIX: MOLN) October 3, 2019

Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Page 1: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

1

Molecular Partners:

BuildingTomorrow’s Breakthroughs

Corporate Presentation

Molecular Partners AG, Switzerland (SIX: MOLN)

October 3, 2019

Page 2: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Molecular Partners: A Swiss Biotech Developing Innovative Protein Drugs

DARPin® platform as source of mono/multi-specific protein drugs

Rapid cycle of innovation to test novel therapeutic design

Validation in >1.8k patients treated to date (mainly Abicipar)

DARPin®

ENGINE

Abicipar: Phase 3 in wet AMD

MP0250: Phase 2 in MM (two trials: combo with PI, combo with IMiD)

MP0274: Phase 1 in Her2 positive cancer indications

MP0310: Phase 1 in multiple cancer indications

DARPin®

PIPELINE

TEAM

WORK

140 co-workers – purpose driven, evolutionary organization

Partnership with Allergan on Abicipar, ophthalmology assets

Partnership with Amgen on MP0310 (I/O, tumor-localized activation)

CAPITALMultiple near-term catalysts with significant value creation potential

Well financed: on-track to steady income with Abicipar launch (2020e)$

Page 3: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Dr. Patrick Amstutz, CEO

Co-founder, former CBO & COO

Member of the Board of Directors

PhD in biochemistry from UZH

Dr. Nicolas Leupin, CMO

Proven track record in drug development

Senior positions at argenx, Celgene

Dr. Michael Stumpp, COO

Co-founder

PhD in biochemistry from UZH

Andreas Emmenegger, CFO

Former CFO Glycart, Finance Roles at Roche

>20 years experience as CFO of private & listed

companies and in fund raising, IPOs

Management Team & Board of Directors

Bill Burns, Chairman Former CEO of Roche Pharmaceuticals

Former board member of Roche, Genentech,

Chugai Pharmaceuticals, Shire

Göran Ando, Vice Chairman Former Chairman, Novo Nordisk

Former CSO, Pharmacia

Gwen Fyfe Former VP, Oncology Development at

Genentech

Steven H. Holtzman President and CEO, Decibel Therapeutics

Former EVP, Biogen

William “Bill” Lee EVP Research, Gilead

Petri Vainio Managing Director, Essex Woodlands

Ventures

EX

EC

UT

IVE

MA

NA

GE

ME

NT

BO

AR

D O

F D

IRE

CT

OR

S

Page 4: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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DARPin® Engine: Source for candidates with novel therapeutic designs

Advanced and balanced DARPin® Portfolio

–Abicipar on track for market launch in nAMD in 2020

–MP0250 in P2, pioneering a new MoA in MM (in PI, IMiD combo), MP0274 in P1

–MP0310 in P1, first I/O program and start of novel generation of DARPin® designs

–Research is delivering further candidates with highly innovative therapeutic designs (tumor-localized agonists, pMHC DARPin® candidates, …)

Organizational focus on product innovation and company growth

Partnerships to accelerate development of DARPin® candidates

Well financed until mid-2021,on-track towards recurring income with expected abicipar launch in 2020 by Allergan

Investment Case

Page 5: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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DARPin® Proteins: Nature’s Choice for Multi-Specific Binding

Monoclonal antibodies DARPin® protein(s)

DARPin® domain

Multi-DARPin® product candidate

• High affinity and specificity

• Low immunogenicity potential

• Tunable half life

• Large size: 150 kDa

• Complex architecture: 4 polypeptide chains with 12 domains

• Target binding via flexible surface loops (CDRs)

• Small size: 15 kDa (1/10 of monoclonal antibody)

• Simple repetitive architecture: 1 polypeptide with 1 domain

• Target binding via rigid surface structure

15 kDa

150 kDa

SCALE

Page 6: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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DARPin® Engine: Selecting Novel Therapeutic Designs toMatch Desired Function

DARPin® module selection Opening novel Therapeutic

Design Space

Therapeutic Design matches

its function

Selecting the «optimal»

Therapeutic Design

Multi-DARPin® product candidates

DARPin® Library with

1012 modules

Target(s)

Identified DARPin® modules

with high target affinity

Page 7: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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A Balanced and Robust Portfolio

AMD: age-related macular degeneration; DME: diabetic macular edema

Research/Pre-clinical

Phase 1 Phase 2 Phase 3Commercial

RightsO

nco

log

yI/

OO

ph

tha

lmo

log

yProduct

CandidatesIndication/

Focus

MP0250 Multiple Myeloma, PI combo

MP0274 HER2 positive

MP0310 FAP x 4-1BB

abicipar Neovascular AMD

abicipar DME

Additional proprietary

DARPin® candidates

Various

in I/O

Additional

DARPin® candidates

Various in

Ophthalmology

MP0250 Multiple Myeloma, IMiD study

DA

RP

in®

Engin

e:

So

urc

e o

f P

rod

uct C

an

did

ate

s

FAP x CD-40

Peptide – MHC

Page 8: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Tree of Evolution of DARPin® Approaches

abicipar: Local activity,

high affinity binding

Dual

Antagonists

MP0250

Incre

asin

g le

ve

l o

f

Inn

ova

tio

n &

Diffe

ren

tiation

Direct Tumor

Cell Killers

MP0274

Next level of immune

cell targeting

MHC-peptides

Local

Agonists

MP0310

FAP x CD40

DARPin® Platform

Mono-Specifics

Page 9: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Oncology Deep Dive: MP0250, MP0274, MP0310, Research

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MP0250: Our First Multi-DARPin® Product Candidate

SOC, standard of care; HSA, human serum albumin.

VEGF

DARPin®HGF

DARPin®

HSA

DARPin®

Medical Need: Some tumors develop adaptive

resistance to SOC by up-regulating VEGF and HGF

MoA: MP0250 inhibits both VEGF and HGF

simultaneously

Blocking these adaptive escape pathways may

restore clinical sensitivity to SOC

Status: Phase 2 in MM

Dosing: 8 mg/kg/3weeks

HSA

DARPin®

HGF

(c-MET)

VEGF

Upregulation of escape

pathways after SOCMedical need: Agents that block

escape pathways to SOC

HGF

(c-MET)

VEGF

MP0250

Page 11: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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MP0250 Acts on HGF and VEGF: Two Hallmarks of MM Disease Progression

MM cells

BMSC + MDS

sinusoid vasculature

bloodvessel

CAF

T-cellangiogenesisinhibition

VASCULAR NICHE

OSTEOBLAST NICHE

osteoclasts

osteocytes

osteoblasts

BONE MARROW

HGF

VEGF

VEGF

VEGF VEGF

HGF

HGF

HGF

HGF

HGF

HGF

HGF

HGF

HGF

Angiogenesis1

VEGF mediates angiogenesis in

the bone marrow which supports

plasma cell expansion

Tumor growth3

HGF mediates the formation of

a protective niche providing survival

signals and confers resistance to

anti-MM therapy

Bone formation and homeostasis2

HGF inhibits osteoblasts (bone

formation) and activates osteoclasts

(bone resorption)CAF: Cancer Associated Fibroblast

BMSC: Bone marrow stromal cell

MDS: Mesenchymal stem cell

1. Ria et al., 2011; Ferrucci et al., 2014

2. Xu et al., 2018; Toscani et al. 2015; Ghorial et al., 2018; Wang et al., 2019

3. Nass & Efferth, 2018; Palumbo et al., 2011; Rampa et al., 2014; Gotwals et al. 2017

Pomalidomide

Bortezomib

BCMACD38 AB

Page 12: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Unmet Medical Need in Multiple Myeloma (MM)

Relapsed

c-MET

89%

Newly diagnosed

Activa

ted

-c-

ME

T r

ece

pto

r

28%

c-MET

On partial remission

2%

c-MET

Dynamic activation of the HGF pathway during disease progression1. HGF is highly overexpressed in bone marrow

biopsies of multiple myeloma patients

Bone marrow

tumor Score 3+6/8

patient samples

1. Moschetta M, et al. Clin Cancer Res 2013;19:4371-82

Bone marrow

tumor Score 2+

Solid tumor

Score 1+

2/8 patient samples

0/8 patient samples

MP0250

MM remains incurable for most patients as cells acquire adaptive resistance to currently available therapies

Relapse inevitable

Time to relapse shortens with every treatment cycle

Quality of response tends to diminish

No current drug in MM is addressing

adaptive VEGF and HGF resistance

Page 13: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Testing how MP0250 can Revert Adaptive Resistance in MM

1) Hajek, R. Strategies for the Treatment of Multiple Myeloma in 2013: Moving Toward the Cure.

In “Multiple Myeloma: A Quick Reflection on the Fast Progress” (2013).

Illustrative course of disease of a MM patient1

IMiD

PI IMiD

PI

MP0250

MP0250

+

PIor or

our «initial» trial

Page 14: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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MP0250 Phase 2 Study in MM: Promising Signs of Efficacy1)

1) Data cut-off: 4 May 2019. dose level: 8mg/kg/3weeks;

based on preliminary dataPartial

Response

Very Good

Partial Response

Stable

Disease

Progressive

Disease

On

Treatment

80 90Treatment duration (weeks)

Minor

Response

MP0250

Patient population: Patients with MM with

≥ 2 prior lines of treatment, including IMiD and PI,

and no response or early relapse

Treatment regimen: Velcade®/Dexamethasone

plus MP0250

8 of 18 patients on 8mg/kg dose with objective

responses (to date)

Durable remission observed in heavily pretreated

patients

Patients ongoing ( )

10 20 30

Co

ho

rt1

Expansio

n

Case A

Case C

Page 15: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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1st line:

Cyclo/Thal

/Dex

2nd line:

Bor/Dex

3rd line:

Bor/Len/

Dex

4th line:

MP0250/

Bor/Dex

Be

st

res

po

ns

e

~1 year under treatment

Female 63y, MM IgG kappa

diagnosed in May 2016

Prior MM Therapy:

–1st Line: Cyclo/Thal/Dex; Best Response: SD

–2nd Line: Bor/Dex; Best Response: SD

–3rd Line: Bor/Len/Dex: PD

Current Treatment: 4th line - MP0250

–Start: Aug 2017, ongoing

–Safety: Hypertension, Polyneuropathy

–Best Response: VGPR, ongoing

1st Case Study: Patient A (4th line, coming from PI)P

DS

DM

RP

RV

GP

R

5 mths

3 mths

6 mths

20 mths +

>1.5 years under treatment

Page 16: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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1st line:

Cyclo/Thal/

Dex

2nd line:

Bor/Dox

/Dex

3rd line:

Len/Dex

4th line:

Len/

Cyclo/Dex

5th

line:

Dara

6th line:

MP0250/

Bor/Dex

2nd Case Study: Patient C (6th line, coming from Dara)B

es

t re

sp

on

se

s

~4 years (incl. breaks); thereof ~2 years under treatment

Female 66y, MM IgG kappa

diagnosed in Sep 2014

Prior MM Therapy:

–1st Line: Cyclo/Thal/Dex; Best Response: PR

–2nd Line: Bor/Dox/Dex; Best Response: SD

–3rd Line: Len/Dex; Best Response: SD

–4th Line: Len/Cyclo/Dex; Best Response: PR

–5th Line: Dara; Best Response: SD

Current Treatment: 6th line - MP0250

–Start: Nov 2018, ongoing

–Safety: Hypertension

–Best Response: VGPR, ongoing

PD

SD

MR

PR

VG

PR

8 mths

3 mths3 mths

7 mths

2 mths

4 mths +

Page 17: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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MP0250 Positioning in MM and Our «planned» Trials

1. Including US/5EU/JP. Datamonitor, August 2018.

Global market value of

MM treatment:

$13 billion

expected to exceed

$20 billion

by 2022

(CAGR: 13%)1

n 30,0001n >100,0001

1st Line

Therapy

2nd

Line

4th

Line

3rd

Line

IMiDor

mAb

PI+

Transplant

or

mAb

+

PI

IMiD75%

25%

Multiple myeloma: 2nd most common

blood cancer

MP0250

MP0250

+

PI

MP0250

+

IMiD

MP0250 has the potential to become

backbone for later lines of treatment

New trial design:

2nd MM trial

(IMiD combo)

Page 18: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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MP0274: Killing HER2+ Cells by New MoA

HER2

DARPin® A

HER2

DARPin® B

HSA

DARPin®

HER2

«Open»

HER2

«Locked»

Apoptosis:

Tumor cell suicide

MP0274

HSA

DARPin®

Page 19: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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MP0274 in HER2+ Patients:Phase 1 Trial Progressed to Next Dose Level of 4mg/kg

Despite good antibody-based HER2+ treatments, eventually patients progress

Novel mode of action: MP0274 is an allosteric inhibitor blocking HER2- and HER3-signaling

and inducing apoptosis

Dose escalation of Phase 1 trial in HER2 positive tumor patients that have progressed on SOC

Phase 1 trial in Europe: First patients dosed at level of 4mg/kg

Further updates on safety profile of MP0274 expected in H2 2019

Page 20: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Immuno-Oncology: Expand the Therapeutic WindowThrough Tumor-Localized Immune Modulation

Current IO therapeutics that

activate the immune system

(agonists) throughout the

body show systemic side

effects that can limit the

effective dosing

Tumor-localized IO

therapeutics that activate

immune cells preferentially

within the tumor may both

increase efficacy and

reduce systemic toxicities

tumor

stroma

tumor cells

tumor cells

healthy cells

activated

T cell

activated

T cell

resting

T cell

MP0310

FAP x CD40

Page 21: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Matrix of Tumor-Localized Immune Modulators

OX-40 4-1BB CD40 Other Targets

Solid Tumor

TAA*TAA x 4-1BB

Tumor

Stromal

Antigen

FAP x 4-1BB

MP0310FAP x CD40

Hematologic

TAA

TAA x

OX40TAA x 4-1BB TAA x CD40

Immune Modulator

Lo

cali

zer

*Tumor-Associated Antigen (TAA)

MP0310

Page 22: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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MP0310 (FAP x 4-1BB): Activating T-cells in the Tumor

HSA, human serum albumin.

Medical need: most current 4-1BB agonists activate

T-cells and NK cells systemically and are limited by

side-effects

MoA: MP0310 uses binding to FAP – a tumor

stromal target – to cluster and activate T-cells

primarily in the tumor

Status: MP0310 is in preclinical development and

partnered with Amgen.

Phase 1 started in October 2019

4-1BB

DARPin®

FAP

DARPin®

HSA

DARPin®Illustrative graphic

MP0310

DARPin® modules

Immune modulator Localizer Half-life extender

MP0310

+ +

+ MP0310

Page 23: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Intratumoral CD8 T cells

Combined Therapy with MP0310 and TAA x CD3 Bi-Specific Results in Significant Increase of Intratumoral CD8+ T Cells

Veh

icle

TAA x

CD3

TAA x

CD3

+ M

P03

10

0

10000

20000

30000

40000

Nu

mb

er

of

hC

D8

T c

ells

pe

r 0

.2 g

tu

mo

r

***

**

FAP-Mediated Tumor

Accumulation of MP0310

HT-29-T-implanted NSG mice

Tumor growth inhibition

PBMC humanized HT-29 xenograft model

0

500

1000

1500

2000

Treatment days

Me

an

tu

mo

r v

olu

me

(m

m3)

0 3 7 10 14 16

Vehicle

TAA x CD3

TAA x CD3+ MP0310

mFAP x 4-1BBno-FAP x 4-1BB

Tumor

MP0310

Page 24: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Peptide-MHCs – DARPin® Approach for «Inaccessible» Targets

Extra-cellular

targets

MHC

peptide

Intra-cellular

targets

Antibody-based approaches:

Limited success with mAbs, BiTEs, CAR-T cell, etc. to

target pMHC complexes

Soluble T cell receptor approaches:

limited by biophysical characteristics and

rather low affinity to pMHCs

DARPin®-based approaches:

Research projects to test DARPin® binders to pMHCs

in oncology and virology

Engage

Peptide-MHC represents a novel class of targets amenable to several effectors functions

Page 25: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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DARPin® vs. Antibody-Target Interaction:Leverage Differentiated DARPin® Scaffold for p-MHC

Antibody (Ig-) Domain: binding via flexible loops

CDR1 CDR2 CDR3

DARPin® Domain: binding via rigid surface

Randomized residues on rigid surface

Randomized residues in loops

Page 26: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Peptide HLA Complexes as Highly Selective Targets for DARPin®-based Therapeutics

Therapeutic opportunity • Majority of cancer therapeutics directed to targets presented on cell surface

• Accessing the intracellular target space by generating highly selective DARPin® molecules

that bind to intracellular peptides presented on cell surface as HLA-peptide complexes

• Opens substantial target space in:

• Oncology

• Virology

• Autoimmunity

Potential technological differentiation• Challenging to generate antibodies and enhanced TCRs which bind to peptide-HLA with both

high selectivity and high affinity

• Investigation of differentiation opportunity for DARPin® scaffold resulting from:

• Rigidity of DARPin® binding surface (relative to TCRs and antibodies)

generally triggering highly specific interactions with protein targets

• In addition, binding surface may optimally fit peptide-HLA surface (schematic illustration)

Schematic illustration:

DARPin® (blue with binding surface in

orange) docking specifically to the peptide

region (orange) of HLA-A02 (grey)

Page 27: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Program Deep Dive: Abicipar

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Abicipar has Potential to be First Fixed 12 Week anti-VEGF

Source: Allergan presentation, 06 Dec 2018, VA visual acuity, OCT optical coherence tomography, AMD age-related macula degeneration

Medical Need: Current anti-VEGFs in wet-AMD are mostly

dosed monthly or extended to bi-monthly, leading to high

burden for patients and under-dosing in real-world settings

MoA: Abicipar is the only long-acting anti-VEGF and has

shown to be the first fixed 12-week nAMD drug, reducing

injections into patients’ eyes

Status: Data from MAPLE safety trial (Apr. 2019) outline

pathway for ongoing optimization of manufacturing and

potentially continued reduction of intraocular inflammation;

FDA has accepted BLA for abicipar; US launch expected

mid-2020; EMA has validated MAA, EMA decision possible

by H2 2020; Allergan plans to start DME Phase 3 in 2020

VA defect

in nAMD

OCT

in wet-AMD

Choroidal

Neovascularization

Abicipar

Page 29: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Phase 3 Efficacy Results (SEQUOIA study, 1yr data)

Source: Allergan July, 2018 and October 2018

Primary Endpoint: STABLE VISION Abicipar

Q8 and Q12 Non-Inferior to Ranibizumab Q4

Secondary Endpoint: Change in BCVA From Baseline Abicipar

Q8 and Q12 in SEQUOIA Non-Inferior to Ranibizumab

Secondary Endpoint: Change in CRT similar across in all

groups

Abicipar

Page 30: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Abicipar on Track for Targeted Market Launch in 2020

Primary and secondary endpoints of Phase 3 trials support abicipar potential to become the first

fixed 12-week anti VEGF in nAMD

– Reduce patient burden from injections and allow for less doctor visits

– Potential to translate visual acuity gains as seen in clinical trials into the real world setting

Data from MAPLE trial outline pathway for ongoing optimization of manufacturing process and

continued reduction of intraocular inflammation

– Severe inflammation down to 1.6% (vs. 3.5%); no cases of endophthalmitis or retinal vasculitis

FDA has accepted BLA for abicipar; US launch, following FDA review, expected mid-2020

EMA has validated MAA for abicipar, corresponding EMA decision possible by H2 2020

Allergan plans to start DME trial in 2020, based on material produced with modified manufacturing

process

Abicipar

Page 31: Molecular Partners: Building Tomorrow’s …/media/Files/M/...2019/10/03  · HGF is highly overexpressed in bone marrow biopsies of multiple myeloma patients Bone marrow tumor Score

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Partnerships

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Leveraging our DARPin® Engine via Partners

Strategy: Broaden and accelerate our activities & cross-finance our proprietary pipeline

Partnership to leverage the DARPin®candidates in ophthalmology (no cost share)

• Total of USD 360m in potential future milestones

• Tiered royalties: Low double-digit to mid-teens

Gilead supports research project to evaluate

binding of DARPin® molecules to peptide-

MHC complexes

Partnership to test MP0310 in combination with

selected Amgen IO drug candidates

(cost share for some clinical trials)

• USD 50mio upfront payment, USD 497mio in

clinical, regulatory and commercial milestones

• Double-digit, tiered royalties up to the high teens

• Molecular Partners retains right to use MP0310 with own DARPin® molecules under certain conditions

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Outlook & Conclusions

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Clinical-stage oncology pipeline

–MP0250 focused on MM with encouraging results, strategic decision to discontinue NSCLC trial

–MP0274 dose-escalation in Her2+ cancers ongoing at 4mg/kg

First I/O DARPin® candidates with novel Therapeutic Design emerging:

– Tumor localized immune modulators progressing: MP0310 on-track to dose first patient in

H2 2019; FAP x CD40 DARPin® molecule moving towards candidate selection

– DARPin® binders to peptide-MHC complexes progressing with support of Gilead

– CD-3 DARPin® binders established

Abicipar Phase 3 in nAMD progressing with Allergan:

– Further optimized formulation resulted in halving of severe inflammation (MAPLE trial)

– EMA validated MAA with decision expected by H2 2020; US launch expected mid-2020

Key Messages H1 19

DARPin® is a registered trademark owned by Molecular Partners AG.

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DARPin® Engine: Source for candidates with novel therapeutic designs

Advanced and balanced DARPin® Portfolio

–Abicipar on track for market launch in nAMD in 2020

–MP0250 in P2, pioneering a new MoA in MM (in PI, IMiD combo), MP0274 in P1

–MP0310 in P1, first I/O program and start of novel generation of DARPin® designs

–Research is delivering further candidates with highly innovative therapeutic designs (tumor-localized agonists, pMHC DARPin® candidates, …)

Organizational focus on product innovation and company growth

Partnerships to accelerate development of DARPin® candidates

Well financed until mid-2021,on-track towards recurring income with expected abicipar launch in 2020 by Allergan

Investment Case

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Expected Catalysts 2019 and Beyond

2019 2020

Abicipar MAPLE: data of further optimized material

Filed in H1 19 according to plan;

FDA accepted BLA, EMA validaded MAA

nAMD Launch*

DME: P3 start*

MP0250 Additional data: ongoing ph 2 MM trial

Start of ph 2 PI and IMiD-combo trial in MM

Update on ph 2 NSCLC trial

Interim ph 2 data: PI-combo trial

Interim ph2 data: IMiD-combo trial

MP0274 First safety & interim efficacy data

MP0310 FIH with MP0310 (mono therapy) MP0310 combination trials

Research Advance DARPin® candidates

Establish novel therapeutic designs

Capital Funding until mid-2021 (excl. any future proceeds related to abicipar and partnerships)

* as per guidance from Allergan

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Appendix

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(CHF million, except per share and FTE data) FY 2018 FY 2017 change

Revenues 10.4 20.0 (9.6)

Total expenses1 (47.8) (45.9) (2.0)

Operating result – EBIT (37.4) (25.8) (11.6)

Net financial result 0.4 0.4 0.0

Net result (37.0) (25.4) (11.6)

Basic net result per share (in CHF) (1.75) (1.22) (0.53)

Net cash used in operations (42.5) (40.0) (2.5)

Cash balance (incl. time deposits) as of Dec 31 99.02 141.13 (42.1)

Number of FTE’s as of Dec 31 117.74 107.8 9.9

Key Figures FY 2018

1 Thereof non-cash costs of CHF 5.3mn in in FY2018 and CHF 5.0mn in FY20172 CHF 136.5m as of March 31, 20193 Including CHF 9.8m short-term time deposits4 123 FTE as of March 31, 2019

Note: Rounding differences may occur

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(CHF million; as per IFRS) H1 2019 H1 2018 change

Revenues 13.6 9.4 4.2

Total expenses1 (26.0) (22.1) (3.9)

Operating result – EBIT (12.4) (12.7) 0.3

Net financial result (0.3) 1.0 (1.3)

Net result (12.7) (11.7) (1.0)

Basic net result per share (in CHF) (0.60) (0.56) (0.04)

Net cash flow in operations 27.0 (19.4) 46.4

Cash balance2 123.3 122.4 0.9

Key Figures H1 2019

1 Thereof non-cash costs of CHF 2.3 million in H1 2019 and CHF 3.4 million in H1 20182 Including CHF 55.6 million short-term time deposits as per June 30, 2019 and CHF 29.7 million short-term time deposits as per June 30, 2018

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• Total expenses of CHF 60-70 million,

of which around CHF 6 million non-cash effective costs

• Capital expenditures of ca. CHF 2 million

• No guidance on net cash flow;

timelines and potential milestones payments with partnerships not disclosed

• Guidance subject to progress and changes of pipeline

Financial Guidance for Full-Year 2019

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Shareholder Structure

VC holdings further reduced to ca. 20%

Listed on SIX Swiss Exchange (SIX: MOLN)

Included in key indices: SPI, SPI Extra,

SXI Life Sciences and SXI Bio+Medtech

21.4 million shares outstanding

CHF 311 million market cap. as of June 30, 2019

No lock-up restrictions in place

86% formal free float as per SIX definition

as of June 30, 2019

20%

18%

62%

Pre-IPO investors (4 VC's)

Management, Board, Founders

Others

Highlights

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This presentation is not an offer to sell or a solicitation of offers to purchase or subscribe for shares of Molecular Partners AG, nor shall it or any part of it nor the fact of its

distribution form the basis of, or be relied on in connection with, any contract or investment decision. This presentation is not an offering circular within the meaning of Article 652a

of the Swiss Code of Obligations, nor is it a listing prospectus as defined in the listing rules of the SIX Swiss Exchange AG or a prospectus under any other applicable laws. Copies

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This presentation contains specific forward-looking statements, beliefs or opinions, including statements with respect to the product pipelines, potential benefits of product

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similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence

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Past performance of Molecular Partners AG cannot be relied on as a guide to future performance. Forward-looking statements speak only as of the date of this presentation and

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Unless stated otherwise the information provided in this presentation are based on company information. This presentation is intended to provide a general overview of Molecular

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The material contained in this presentation reflects current legislation and the business and financial affairs of Molecular Partners AG which are subject to change and audit.

Disclaimer

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Molecular Partners AG

Wagistrasse 14

8952 Zürich-Schlieren

Switzerland

www.molecularpartners.com

T +41 44 755 77 00

IR Agenda

August 27, 2019 Publication of Half-year Results 2019 (unaudited)

October 31, 2019 Publication of Q3 Interim Management Statement