ADALTA LIMITED — Investor Presentation 2021

Apr 27, 2021

==> picture [539 x 73] intentionally omitted <==

28 April 2021

ASX Announcement

AD-214 RESULTS PRESENTED AT ILD DRUG DEVELOPMENT SUMMIT

MELBOURNE Australia, 28 April 2021: AdAlta Limited (ASX:1AD), the clinical stage biotechnology company developing novel therapeutic products from its i-body platform is pleased to announce that Chief Scientific Officer, Professor Mick Foley has been invited to present an update on the clinical development of lead product candidate, AD-214, at the Interstitial Lung Disease (ILD) Summit 2021 being held virtually from 27-29 April.

The ILD Summit 2021 showcases the latest scientific research that is innovating and upgrading ILD therapeutics at this trailblazing new meeting. The 1st Interstitial Lung Disease Drug Development Summit is a ground-breaking new conference dedicated to helping drive forward the development of effective therapies for chronic fibrosing ILDs and achieve success in anti-fibrotic drug development beyond Idiopathic Pulmonary Fibrosis (IPF).

Professor Foley’s presentation will cover:

• The role of the CXCR4 receptor in fibrotic disease and the rationale targeting CXCR4 as a therapeutic option for IPF and other ILDs

• Non-clinical data showing CXCR4 expression in a range of cell-types known to contribute to IPF/ILD and comparing CXCR4 expression levels in healthy and diseased tissue, and

• Pre-clinical and initial clinical development of AdAlta’s novel i-body enabled therapeutic, AD-214, which targets CXCR4, including anti-fibrotic efficacy and safety data from preclinical studies and safety and target engagement and occupancy in healthy volunteers from the Company’s first in-human trial.

Professor Foley is joining a speaking panel of 20 industry and academic leaders. A copy of the presentation is attached.

Details of the session:

Session date / time: Thursday, 29 April 2021 at 01:30am AEST (11:30am US EST) Session title: CXCR4/CXCL12: A Common Molecular Axis in Multiple Cell Types with Relevance in ILD

Authorised for lodgement by:

Tim Oldham CEO and Managing Director April 2021

==> picture [595 x 83] intentionally omitted <==

==> picture [539 x 73] intentionally omitted <==

Notes to Editors About AdAlta

AdAlta Limited is a clinical stage drug development company headquartered in Melbourne, Australia. The Company is using its proprietary i-body technology platform to solve challenging drug targeting problems and generate a promising new class of single domain antibody protein therapeutics with the potential to treat some of today’s most challenging medical conditions. The i-body technology mimics the shape and stability of a unique and versatile antigen-binding domain that was discovered initially in sharks and then developed as a human protein. The result is a range of unique proteins capable of interacting with high selectivity, specificity and affinity with previously difficult to access targets such as G-protein coupled receptors (GPCRs) that are implicated in many serious diseases. i-bodies are the first fully human single domain antibody scaffold and the first based on the shark motif to reach clinical trials.

AdAlta is conducting Phase 1 clinical studies for its lead i-body candidate, AD-214. AD-214 is being developed for the treatment of Idiopathic Pulmonary Fibrosis (IPF) and other human fibrotic diseases, for which current therapies are sub-optimal and there is a high unmet medical need.

The Company is also entering collaborative partnerships to advance the development of its i-body platform. It has an agreement with GE Healthcare to discover i-bodies as diagnostic imaging agents against Granzyme B, a biomarker of response to immunooncology drugs.

AdAlta’s strategy is to maximise the products developed using its next generation i-body platform by internally discovering and developing selected i-body enabled product candidates against GPCRs implicated in fibrosis, inflammation and cancer and partnering with other biopharmaceutical companies to develop product candidates against other classes of receptor, in other indications, and in other product formats.

Further information can be found at: https://adalta.com.au

For more information, please contact:

Investors

Media

Tim Oldham, CEO & Managing Director IR Department Tel: +61 403 446 665 Tel: +61 411 364 382 E: t.oldham@adalta.com.au E: gabriella.hold@irdepartment.com.au

==> picture [595 x 83] intentionally omitted <==

==> picture [116 x 89] intentionally omitted <==

CXCR4/CXCL12: A common molecular axis in multiple cell types with relevance in ILD ILD Drug Development Summit April 2021

Disclaimer

Investment in AdAlta is subject to investment risk, including possible loss of income and capital invested. AdAlta does not guarantee any particular rate of return or performance, nor do they guarantee the repayment of capital.

This presentation is not an offer or invitation for subscription or purchase of or a recommendation of securities. It does not take into account the investment objectives, financial situation and particular needs of the investor. Before making any investment in AdAlta, the investor or prospective investor should consider whether such an investment is appropriate to their particular investment needs, objectives and financial circumstances and consult an investment advisor if necessary.

This presentation may contain forward-looking statements regarding the potential of the Company’s projects and interests and the development and therapeutic potential of the company’s research and development. Any statement describing a goal, expectation, intention or belief of the company is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercialising drugs that are safe and effective for use as human therapeutics and the financing of such activities. There is no guarantee that the Company’s research and development projects and interests (where applicable) will receive regulatory approvals or prove to be commercially successful in the future. Actual results of further research could differ from those projected or detailed in this presentation. As a result, you are cautioned not to rely on forward-looking statements. Consideration should be given to these and other risks concerning research and development programs referred to in this presentation.

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

2
----- End of picture text -----

CXCR4 plays a role in IPF

Very limited expression in normal or non-diseased tissues

CXCR4 is upregulated in IPF lung tissue

CXCR4 is a critical player in many fibrotic indications including:

==> picture [137 x 148] intentionally omitted <==

==> picture [137 x 148] intentionally omitted <==

• Lung

• Kidney

• Heart

• Eye

• Skin

CXCR4 is also

• Important in maintaining stem cells in bone marrow

==> picture [389 x 114] intentionally omitted <==

• Used by HIV-1 as a co-receptor for viral entry into host cells

• Associated with more than 23 types of cancers

Brown stain shows amount of CXCR4

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

3
----- End of picture text -----

CXCR4 is expressed in both IPF and ILD patient lung tissue and in multiple cell types

==> picture [396 x 169] intentionally omitted <==

• CXCR4 was abundantly expressed in both IPF and ILF donors compared with non-diseased controls

==> picture [6 x 8] intentionally omitted <==

• CXCR4 is expressed on circulating immune cells and in patients with IPF and other fibrotic ILDs we have demonstrated that CXCR4 is significantly upregulated in the fibrotic airway epithelial and fibrotic loci myeloid cells

==> picture [6 x 8] intentionally omitted <==

==> picture [209 x 275] intentionally omitted <==

CXCR4 stained brown

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

4 Source: Jaffar et al, Respiratory Research (2020) 21: 221
----- End of picture text -----

Why targeting CXCR4 could improve IPF/ILD outcomes

Observation

Significance

==> picture [7 x 9] intentionally omitted <==

CXCR4 is up-regulated in ILD patients as well as IPF patients

==> picture [7 x 9] intentionally omitted <==

If AD-214 works in IPF it is more likely to work in ILD as well … and there are at least as many non-IPF ILD patients as IPF patients

==> picture [7 x 9] intentionally omitted <==

• CXCR4 is upregulated in epithelial and

• myeloid cells in fibrotic tissue

==> picture [7 x 9] intentionally omitted <==

• Epithelial cells involved in the fibrosis

• cascade: blocking CXCR4 could have a broader effect than simply shutting down collagen deposition

==> picture [7 x 9] intentionally omitted <==

• CXCR4 also inhibits migration of fibroblasts

• and inflammatory cells such as macrophages in a disease specific way

==> picture [7 x 9] intentionally omitted <==

• Blocking CXCR4 may also have an immune

• modulation effect and inhibit immune/ inflammatory cell infiltration to the lungs

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

5
----- End of picture text -----

i-bodies: human single domains

==> picture [9 x 11] intentionally omitted <==

==> picture [9 x 11] intentionally omitted <==

i-body inspired by the shark VNAR structure AD-114 is a CXCR4 binding i-body that binds in the ligand binding site and antagonizes the receptor

==> picture [407 x 197] intentionally omitted <==

==> picture [167 x 197] intentionally omitted <==

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

6
----- End of picture text -----

AD-214 retains specificity for CXCR4

==> picture [9 x 11] intentionally omitted <==

==> picture [9 x 11] intentionally omitted <==

AD-214 consists of the CXCR4 binding i-body (AD-114) fused to human Fc AD-214 had no binding to proteins other than CXCR4

==> picture [426 x 198] intentionally omitted <==

==> picture [239 x 238] intentionally omitted <==

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

7
----- End of picture text -----

AD-214 binds with high affinity to CXCR4

==> picture [7 x 9] intentionally omitted <==

==> picture [7 x 9] intentionally omitted <==

==> picture [7 x 9] intentionally omitted <==

AD-214 binds to human CXCR4 lipoparticles with affinity of ~4pM ( A )

AD-214 binding to CXCR4 expressing CHO cells but not to parental cells ( B )

Flow cytometry shows that AD-214 can bind to CXCR4 expressed on human CD3[+] T cells ( C ).

==> picture [421 x 299] intentionally omitted <==

----- Start of picture text -----

A C
B
----- End of picture text -----

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

8
----- End of picture text -----

AD-214 Phenotypic profile lung fibrosis panel

SAEMyoF and MyoF consisting of a co-culture of lung fibroblasts and small airway epithelial cells.

==> picture [355 x 320] intentionally omitted <==

----- Start of picture text -----

Small Airway epithelial cells &f fibroblasts Fibroblasts
Col-III
----- End of picture text -----

==> picture [155 x 149] intentionally omitted <==

Key activities of AD-214:

• AD-214 is not cytotoxic at the concentrations tested in this study.

• Fibrosis-related matrix activities: decreased Collagen I, Collagen III

• Inflammation-related activities: decreased MCP-1, sIL-8, sIL-6; increased M-CSF

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

9
----- End of picture text -----

AD-214 attenuates fibrosis of the lung

==> picture [7 x 9] intentionally omitted <==

==> picture [7 x 9] intentionally omitted <==

Bleomycin induced lung fibrosis

• gold standard in vivo animal model of pulmonary fibrosis

• AD-214 significantly improved lung

• fibrosis pathology (Ashcroft score) when compared to the 21-day bleomycin vehicle-treated controls

• 1, 10 and 30 mg/kg every second day

• 10 and 30 mg/kg every fourth day

• AD-214 efficacy demonstrated in gold standard IPF disease model

==> picture [388 x 270] intentionally omitted <==

----- Start of picture text -----

6
Statistical significance [#] to 21d bleomycin
5
ns ns ns ns
4
* ** **
3 Day 8 bleomycin
(start of treatment)
2
1
0
Bleomycin Every 2 Every 4
alone days days
AD-214
Ashcroft Score
Naïve 21 day 30 mg/kg 30 mg/kg 60 mg/kg 0.01 mg/kg 1 mg/kg 10 mg/kg 30 mg/kg 10 mg/kg 30 mg/kg
body
Control i- Pirfenidone daily Nintedanib daily
----- End of picture text -----*

Supportive of potential human therapeutic window beginning as low as 1mg/kg

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

Statistical significance assessed using ANOVA and post-hoc Dunnett’s test; ns (not significant) = p >0.05, * = p<0.05, ** = p < 0.01
10 relative to 21-day bleomycin vehicle; negative control is an i-body that does not bind specifically to CXCR4; error bars are standard error
of the mean
----- End of picture text -----

AD-114 is antifibrotic in a mouse model of kidney fibrosis

==> picture [7 x 9] intentionally omitted <==

==> picture [7 x 9] intentionally omitted <==

CXCR4 is upregulated in several models of kidney fibrosis AD-114 protects from liver damage in therapeutic mode of Folic acid kidney injury

==> picture [494 x 249] intentionally omitted <==

==> picture [214 x 110] intentionally omitted <==

==> picture [221 x 114] intentionally omitted <==

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

11
----- End of picture text -----

NHP GLP toxicology: AD-214 well tolerated

3 non-human primate studies completed

Good Laboratory Practice (GLP) study to evaluate safety and toxicology

==> picture [6 x 8] intentionally omitted <==

10mg/kg, 30mg/kg and 100mg/kg multiple doses over four weeks plus recovery (human equivalent dose 32mg/kg)

==> picture [6 x 8] intentionally omitted <==

AD-214 well tolerated with no deaths, no AD-214-related clinical signs, no changes in a panel of clinical observations

• § body weight § electrocardiography § coagulation § macroscopic and microscopic

• § ophthalmoscopy § respiratory function § urinalysis findings

• § blood pressure § neurological § organ weight function

==> picture [6 x 8] intentionally omitted <==

Minor, transient, completely reversible increase in total white cell and circulating CD34+ cells

==> picture [6 x 8] intentionally omitted <==

Small, transient, completely reversible decrease in serum total protein and albumin at highet dose only (100 mg/kg)

Tox study results were in line with expectations and in keeping with previous studies

No major organ toxicity has been observed on repeat dosing at high doses

No suggestion of off-target toxicities

12

NHP PK and PD results

Pharmaco-kinetics

• Elimination half-life 22-29h

Pharmaco-dynamics

• 60% receptor occupancy* for 72h at >30mg/kg

==> picture [542 x 169] intentionally omitted <==

----- Start of picture text -----

Receptor Occupancy - All
120
Vehicle
Day 1 Male Day 25 Male 10 mg/kg30 mg/kg
100 100 mg/kg
80
60
40
20
0
-20
Pre-Dose 2 hours post-SOI 48 hours post-SOI 72 hours post-SOI Pre-Dose 2 hours post-SOI 48 hours post-SOI 72 hours post-SOI
Day 1 Day 25
% RO
----- End of picture text -----

Results supportive of therapeutic dose window ~10mg/kg IV, weekly or fortnightly

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

13
----- End of picture text -----

AD-214 4-week toxicology study: Hematology

==> picture [7 x 9] intentionally omitted <==

==> picture [7 x 9] intentionally omitted <==

==> picture [7 x 9] intentionally omitted <==

• 10, 30, 100mg/kg AD-214

• administered twice weekly for 4 weeks

Transient increase in total WBCs 2 hours after administration

• Back to baseline within 24 hours

Similar transient increase in

circulating haemopoietic progenitors

• Back to baseline within 24 hours

==> picture [400 x 255] intentionally omitted <==

----- Start of picture text -----

White Blood Cells
60 10mg/kg
30mg/kg
40 100mg/kg
Vehicle
20 Historical High
Historical Low
0
Progenitor Cells (CD14-CD34+)
10mg/kg
0.03
30mg/kg
100mg/kg
0.02
Vehicle
HH
0.01
HL
0.00
PT Day 1 Day 2 Day 25 Day 26 Day 29 Day 56
PT Day 1 Day 2 Day 25 Day 26
Cell number (10^9/L)
Cell number (10^9/L)
----- End of picture text -----

Haematology and CD34+ cells monitored throughout the study

CONFIDENTIAL

AD-214 Phase I program in healthy volunteers

Part A: HV SAD Blinded/placebo controlled 0.01-20 mg/kg single dose 7 cohorts, 42 pts ✓ Cohort Participants (active:placebo) 0.01 mg/kg 2 (1:1) 0.02 mg/kg 2 (1:1) 0.10 mg/kg 8 (6:2) 1.0 mg/kg 7 (6:1) 5.0 mg/kg 7 (5:2) 10.0 mg/kg 8 (6:2) 20.0 mg/kg 8 (6:2)	Variable Statistic Pooled Placebo Overall AD-214 Overall
	n 11 31 42
	Age (years) at Screening Mean 36.2 36.5 36.4
Cohort Participants (active:placebo)
	SD 16.4 16.0 15.9
0.01 mg/kg 2 (1:1)
	Median 29.0 32.0 30.5
0.02 mg/kg 2 (1:1)
	Minimum 19 19 19
0.10 mg/kg 8 (6:2)
	Maximum 59 64 64
1.0 mg/kg 7* (6:1)	Sex n(%) Female 7 (63.6%) 15 (48.4%) 22 (52.4%)
	Male 4 (36.4%) 16 (51.6%) 20 (47.6%)
5.0 mg/kg 7* (5:2)
	Ethnicity n(%) Asian 3 (27.3%) 7 (22.6%) 10 (23.8%)
10.0 mg/kg 8 (6:2)
	White 7 (63.6%) 23 (74.2%) 30 (71.4%)
20.0 mg/kg 8 (6:2)
	Other 1 (9.1%) 1 (3.2%) 2 (4.8%)

• Cohort unfilled due to recruitment issues

15

Single doses of AD-214 are well tolerated and achieve sustained, high receptor occupancy

AD-214 has an excellent safety profile

• No dose limiting toxicities or adverse events of clinical concern

• No concerning clinical laboratory results

• Consistent with Non-Human Primate (NHP) toxicology studies

AD-214 engages the CXCR4 receptor

• Clear markers of target (CXCR4) engagement observed

Receptor occupancy sustained at high levels for extended periods

• Supportive of longer dosing interval than projected from NHP if replicated in patients

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

16
----- End of picture text -----

Single dose of AD-214 is well tolerated

Adverse events (unblinded data)

Immune response*

• No dose limiting adverse events

• No clinically significant cytokine release

• No serious adverse events

• No clinical laboratory adverse events

• Isolated incidences of minor cytokine elevation - Transient and primarily low level elevation of IL-6 and IL-8 in some participants (including placebos)

• Dose escalation steps completed without concern

• Adverse events were non-concerning

• Antidrug antibodies: detected in 11 participants without any associated symptoms

  • Predominantly low titre

  • Characterisation pending

• Predominantly mild

• Three Grade 2 (moderate) adverse events

17

AD-214 pharmacokinetics increase proportionally with dose

Observed

==> picture [8 x 9] intentionally omitted <==

Elimination half-life t1/2 ~ 44±15 h

==> picture [8 x 9] intentionally omitted <==

Maximum & total exposure (Cmax & AUC0-inf) increase in ~ dose proportional manner

==> picture [626 x 208] intentionally omitted <==

----- Start of picture text -----

AD-214 plasma concentrations (log and linear scale) Maximum and total plasma exposure
450
1,000.00 400 600 3000
350 Cmax (ug/mL)
300 500 AUC0-inf (hug/mL) 2500
100.00 250
Linear (Cmax (ug/mL))
200
150 400 Poly. (AUC0-inf (hug/mL)) 2000
10.00 100
50
0 300 1500
0 15 30 45 60 75
1.00 Time from start of infusion (h)
200 1000
0.10 0.1 mg/kg 100 500
1 mg/kg
0.01 5 mg/kg 0 0
0 15 30 45 60 75 10 mg/kg 0 5 10 15 20
Time from start of infusion (h) 20 mg/kg Dose (mg/kg)
(ug/mL)
AD-214 plasma concentration
(hug/mL)
Total AD-214 exposure AUC0-inf
Peak AD-214 exposure Cmax (ug/mL)
AD-214 plasma concentration (ug/mL)
----- End of picture text -----*

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

18
----- End of picture text -----

Transient white blood cell and blood stem cell increases indicate CXCR4 engagement

==> picture [10 x 11] intentionally omitted <==

Transient, dose dependent, increase in WCC and CD34+ counts at 4-12 hours consistent with CXCR4 blockade

==> picture [646 x 231] intentionally omitted <==

----- Start of picture text -----

WCC counts WCC counts at 4h CD34+ cell counts
30 Placebo 30
Placebo
0.01mg/kg 30
25 0.02mg/kg 25 0.01mg/kg
0.02mg/kg
0.1mg/kg
20 1.0mg/kg 20 20 0.1mg/kg
1.0mg/kg
5.0mg/kg
15 10mg/kg 15 5.0mg/kg
10mg/kg
20mg/kg
10 10 10 20mg/kg
5
5
0
0
0
0 50 100
0 50 100 Time after start of infusion (h)
Time after start of infusion (h)
Placebo0.1mg/kg1.0mg/kg5.0mg/kg10mg/kg20mg/kg
Mean white cell count (X10^9/L) Mean viable cell count (cells/uL)
Mean white cell counts (x10^9/L)
----- End of picture text -----

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

19
----- End of picture text -----

Transient increase in SDF-1 (natural ligand of CXCR4) suggests CXCR4 engagement

==> picture [8 x 10] intentionally omitted <==

Transient increases in SDF-1 levels at 4 hours in some participants, returning to baseline at 24h consistent with CXCR4 blockade

==> picture [8 x 10] intentionally omitted <==

Statistically significant increase at 20 mg/kg only

==> picture [217 x 214] intentionally omitted <==

----- Start of picture text -----

SDF-1 levels
7,000 Placebo
0.01mg/kg
6,000
0.02mg/kg
5,000 0.1mg/kg
1.0mg/kg
4,000
5.0mg/kg
10mg/kg
3,000
20mg/kg
2,000
1,000
0
0 50 100
Time after start of infusion (h)
SDF-1 plasma concentratrion (pg/mL)
----- End of picture text -----

==> picture [178 x 198] intentionally omitted <==

----- Start of picture text -----

SDF-1
10000
8000
6000
4000
2000
0
Placebo0.1mg/kg1.0mg/kg5.0mg/kg10mg/kg20mg/kg
SDF-1 plasma concen tration (pg/mL)
----- End of picture text -----

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

20
----- End of picture text -----

Sustained high levels of CXCR4 receptor occupancy* on T cells

==> picture [664 x 310] intentionally omitted <==

----- Start of picture text -----

CXCR4 is expressed on white blood cells
Mean occupancy of T cell CXCR4 receptors by
in healthy individuals, providing an
AD-214
120 0.01mg/kg accessible proxy for AD-214 target
0.02mg/kg engagement
1 wk 0.1mg/kg
100 1mg/kg
Dose dependent level and duration of RO
5mg/kg
80 10mg/kg >70% CXCR4 RO at 7 days after 5-10
20mg/kg mg/kg infusion
2 wk LLOQ >60% CXCR4 RO at 21 days after 20
60 mg/kg infusion
3 wk
Duration of PD effect is considerably
40 longer than PK profile
4 wk
If replicated on CXCR4 receptors in
20
tissues in IPF/ILD patients and other
fibrotic patients, supports extended
0 dosing intervals despite relatively rapid
0 200 400 600 clearance from circulation
Time since end of infusion (h)
Percent receptor occupancy
----- End of picture text -----

• Receptor occupancy was monitored for one week at all dose levels except 20 mg/kg (4 weeks)

21

AD-214 Phase I program in healthy volunteers and patients

Phase 1 protocol in healthy volunteers

==> picture [651 x 87] intentionally omitted <==

----- Start of picture text -----

Complete Q2-Q4 2021
Part A: HV SAD Part B: HV MAD • Dosing complete end 2021
Blinded/placebo controlled Blinded/ Placebo controlled •
Supports Phase II/ FDA IND
0.01-20 mg/kg single dose ✓ 3 doses, 5-15 mg/kg every 2 weeks
application in multiple indications
7 cohorts, 42 pts 3 cohorts, 12 – 24 pts
Active
----- End of picture text -----*

Phase 1b protocol in patients with IPF/ILD and other fibrotic diseases*

Commence Q3 2021

• AD-214 distribution and CXCR4 receptor occupancy in tissue in multiple disease states

• Safety in IPF/ILD in combination with SoC**

Arm 1: PET screening of fibrotic diseases Open label with SoC ~12 patients (~6 IPF/ILD) high CXCR4 disease Arm 2: Multi-dose in IPF/ILD Open label with SoC ~6 patients, max 6 doses over 18 weeks +/- PET imaging

• First cohort has received second dose

22

** Standard of Care (includes pirfenidone, nintadanib or non-pharmacologic intervention)

==> picture [268 x 59] intentionally omitted <==

Contacts for more information: Mick Foley, CSO enquiries@adalta.com.au www.adalta.com.au

==> picture [33 x 34] intentionally omitted <==

==> picture [34 x 34] intentionally omitted <==

==> picture [259 x 446] intentionally omitted <==

Implications for AD-214: a clinician’s perspective

==> picture [7 x 9] intentionally omitted <==

Un-met need in IPF/ILD remains: need to progress new therapies

==> picture [7 x 9] intentionally omitted <==

• Research at The Alfred suggests that if targeting CXCR4 works in IPF it may also work in other

• ILD’s

==> picture [7 x 9] intentionally omitted <==

• AD-214 is well tolerated and ready to move forward into multi-dose studies in healthy

• volunteers and patients

==> picture [7 x 9] intentionally omitted <==

The data is supportive of extending dosing interval to two weekly at least

==> picture [7 x 9] intentionally omitted <==

AdAlta approach is methodical and appropriate

• PET imaging strategy is particularly important as an innovative way to explore target engagement in tissue early

==> picture [7 x 9] intentionally omitted <==

Key insights to come from multidose and early patient studies:

• CXCR4 receptor engagement in tissue

• Nature of the anti-drug antibodies that are expected with a biologic

• Characterisation of biomarker responses: CD34+, white cells, SDF-1a

==> picture [47 x 46] intentionally omitted <==

==> picture [720 x 35] intentionally omitted <==

----- Start of picture text -----

24 * Prof Glen Westall, leading Australian respiratory specialist and lung fibrosis expert at AdAlta Investor Briefing, March 2021
----- End of picture text -----