BIOTRON LIMITED — Investor Presentation 2012

Jan 11, 2012

==> picture [227 x 36] intentionally omitted <==

Level 2, 66 Hunter Street Sydney NSW 2000 Tel: (61-2) 9300 3344 Fax: (61-2) 9221 6333 E-mail: pnightingale@biotron.com.au Website: www.biotron.com.au

12 January 2012

The Manager Companies ASX Limited 20 Bridge Street Sydney NSW 2000

(17 pages by email)

Dear Madam

CEO PRESENTATION AT BIOTECH SHOWCASE SAN FRANCISCO

Biotron's Managing Director, Dr Michelle Miller, has presented an update of the Company's activities to an international audience at the Biotech Showcase 2012 in San Francisco, USA. In addition, Dr Miller has given briefings to US institutional investors and pharmaceutical company representatives as part of activities surrounding the annual JP Morgan Healthcare Conference currently underway in San Francisco.

The Biotech Showcase features corporate presentations by innovative life science companies to an audience of public and private investors, business development executives and professional advisors who are interested in investment opportunities and collaboration. The showcase takes place during the week of one of the most important healthcare investor conferences which annually attracts thousands of healthcare and life science business executives to San Francisco.

About Biotron

Biotron Limited is engaged in the research, development, and commercialisation of drugs targeting significant viral diseases with unmet medical need, with a major focus on HIV and HCV. The Company has BIT225 in clinical development for both HIV and HCV, and also has several earlier stage preclinical and research programs for several other viral infections including Dengue, influenza, and others.

For further information please contact Dr Michelle Miller, Managing Director, on (61-2) 9805 0488.

Yours sincerely

==> picture [105 x 68] intentionally omitted <==

Peter J. Nightingale Company Secretary

pjn6462

BIOTRON LIMITED ASX:BIT

January 2012

Michelle Miller CEO & Managing Director

==> picture [720 x 66] intentionally omitted <==

‐ This presentation may contain forward looking statements with respect to the financial condition, results and business achievements/performance of Biotron Limited and certain of the plans and objectives of its management. These statements are statements that are not historical facts. Words such as “should”, “expects”, “anticipates”, “estimates”, “believes” or similar expressions, as they ‐ relate to Biotron Limited, are intended to identify forward looking statements. By ‐ their nature, forward looking statements involve risk and uncertainty because they reflect Biotron’s current expectations and assumptions as to future events and circumstances that may not prove accurate. There is no guarantee that the expected events, trends or results will actually occur. Any changes in such assumptions or expectations could cause actual results to differ materially from current expectations.

==> picture [720 x 66] intentionally omitted <==

• Clinical stage drug development company

• Focus on developing novel small molecule antiviral drugs

• Hepatitis C virus (HCV), HIV, Dengue and others

• Established in 1999

• Spun out from the Australian National University, Canberra, Australia;

• Headquartered in Sydney, Australia

• IPO on ASX in Jan 2001 (ASX:BIT)

• Key highlights

• Dec 2011 – Presentation of positive data from Phase 2a trial of BIT225 against HCV

• Jan 2012 – Raised A$8 m via exercise of listed options (~80% exercised)

==> picture [720 x 66] intentionally omitted <==

		Key Financials and Facts	Key Financials and Facts	Key Financials and Facts	Key Financials and Facts	Key Financials and Facts
		~~KEY FINANCIALS~~ Code BIT ent Share Price (11 Jan ‘12) A$0.15 ~~eek High~~ ~~A$0.16~~5 ~~eek Low~~ ~~A$0.08~~6 es on Issue 228 million ~~ket Capitalization~~ ~~A$34 m~~ ~~Cash (30 Sept~~‘~~11)~~ Excludes A$8 million raised Jan 2012 ~~A$1.87~~m				BOARD AND MANAGEMENT Mr Michael Hoy Chairman Dr Michelle Miller CEO & Managing Director Dr Denis Wade Non-Executive Director Mr Bruce Hundertmark Non-Executive Director Mr Peter Nightingale CFO & Company Secretary
		~~KEY FINANCIALS~~
	ASX	Code		BIT
	Curr	ent Share Price (11 Jan ‘1	2)	A$0.1	5
	52~~W~~				~~6~~5
		~~eek High~~		~~A$0.1~~
	52~~W~~	~~k L~~		~~A$00~~	~~8~~6
		~~ee ow~~		~~.~~
	Shar	es on Issue		228
				million
	Mar				~~m~~
		~~ket Capitalization~~		~~A$34~~
	Net -	~~Cash (30 Sept~~‘~~11)~~		~~A$1.8~~	~~7~~m
		Excludes A$8 million rais	ed Jan 2012

• Anti-viral drug market is very attractive

• Ongoing need for new drugs to overcome viral resistance;

• Patients are treated with cocktails i.e. combinations of different anti-viral

  • drugs

• Not developing “me too” drugs

• Identified of new class of viral proteins called viroporins

• Present in broad range of viruses including HIV, Hep C, Dengue virus , influenza, SARS (E) and others

• Designed and made a library of new drugs (~350 compounds) to target these viral proteins

• Developed rapid screening assays for the targets

• Generated first-in-class drugs to treat diseases with high unmet medical need

• Initial focus on HIV and Hep C

==> picture [720 x 66] intentionally omitted <==

	Pipeline
	INDICATION VIRAL TARGET DISCOVERY PRE- CLINICAL PHASE 1a PHASE 1b PHASE 2a PHASE 2b STATUS HEP C p7 Ph 2a complete HIV Vpu Ph 1b Recruiting Dengue M Influenza M2 Others various

• Leading cause of chronic liver disease and transplants

• 180 m people infected worldwide (3% world population); 130 m are chronically infected

• 4 m patients in US (2.7 m chronically infected)

• 70% will develop liver diseases including cirrhosis and liver cancer

• Currently only 2.6% are treated each year

• Standard of care is interferon and ribavirin

• Up to 50% patients don’t respond to current treatment

• Significant side effect profile – high drop out rate

• Documented need for new, safer drugs

==> picture [720 x 66] intentionally omitted <==

Worldwide market ~US$2 billion; predicted to expand to >US$10 - 20 billion as new, safer drugs enter the market. Only small percentage currently receive treatment.

USA and Europe represent major markets but other, larger markets are emerging.

==> picture [260 x 367] intentionally omitted <==

Smith Nature Reviews Drug Discovery 5, 715–716 (September 2006)

==> picture [720 x 66] intentionally omitted <==

Nov 2011 – Gilead (GILD) acquires Pharmasset (VRUS) for US$11 billion

- PSI-7977 recently advanced into Phase 3

Jan 2012 – BMS acquires Inhibitex (INHX) for US$2.5 billion - INX-189 currently in Phase 2

==> picture [720 x 66] intentionally omitted <==

p7 – a New Target for HCV Drugs

p7 plays a critical role in production of infectious HCV in infected cells BIT225 acts as a viral assembly inhibitor

PSI-7977, INX-189

==> picture [720 x 66] intentionally omitted <==

48

 – Phase Ia 48 patient, single dose safety study in healthy volunteers  Phase Ib - 18 patient, 7-day multiple dose study in patients with HCV

• Phase 2a – 24 patient, 28-day multiple dose study in patients with HCV (genotype 1)

 Combination trial with peg-IFN and Ribavirin (Standard of Care, SOC).  Trial completed Sept 2011; data presented at HepDART in Dec 2011

==> picture [669 x 186] intentionally omitted <==

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

0 2 4 Weeks
400 mg BIT225
IFN/RBV
8 pts + IFN/RBV
200 mg BIT225 IFN/RBV
8 pts + IFN/RBV
Placebo
IFN/RBV
8 pts + IFN/RBV
----- End of picture text -----

==> picture [720 x 66] intentionally omitted <==

==> picture [720 x 540] intentionally omitted <==

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

BIT225 + SOC Leads to 90% EVR at 3 Months
HCV RNA Change from Baseline (Log10)
- Non-Compliers Removed - Median at timepoint -
0.000
-1.000
-2.000
400 mg
200 mg
-3.000
Placebo
-4.000
-5.000
DOSING PERIOD
-6.000
0 7 14 21 28 35 42 49 56 63 70 77 84 91
Time point (Days)
•
3 month complete EVR data:
•
BIT225 + SOC 87%
•
SOC alone 63%
Baseline
Log10 Change from
----- End of picture text -----

• Industry moving to all oral DAA (direct acting antiviral) combinations

• Current focus on NS5B+NS3/4 (+ribavirin)

• Expect first combo approvals 2014/15 (if no hiccoughs)

• BUT viral resistance is a potential issue for these new fast-acting drugs

• Remember HIV….

• Addition of a third drug such as BIT225 to these DAA combos could potentially retard development of resistance

• IFN/Ribavirin likely to remain the backbone of treatments in various countries due to costs

• BIT225 improves outcome in hard-to-treat genotype 1 patients; likely to be active in other genotypes (p7 conserved)

• Result is multiple market opportunities for BIT225 - potential to be used with IFN/Ribavirin treatment or in combination with new DAAs

==> picture [720 x 59] intentionally omitted <==

BIT225 - HIV / HCV Co-Infected Population

• BIT225 has potent anti-HIV activity

• Unique mode of action targets HIV “hiding” in long-lived reservoir cells

  • Reservoirs are last of the holy grail in HIV; No existing drugs target this source of HIV in the body

• Phase 1b/2a trial of BIT225 in HIV+ patients is currently in progress

• Up to 30% of HIV-infected patients are also HCV-infected

• significantly worse prognosis than mono-infected patients

• US and European regulatory agencies have stated the need for new treatment strategies for this difficult-to-treat population

• BIT225 is uniquely placed due to dual anti-HIV and anti–HCV activity

==> picture [720 x 64] intentionally omitted <==

• World-class portfolio of anti-viral, first-in-class drugs

• BIT225 has demonstrated potent anti-HCV activity

• Market opportunity with new and existing classes of HCV drugs

• Phase 1b/2a trial of novel approach to eliminating HIV underway

• Anticipated to complete 1Q2012

• Unique opportunity to target HIV / HCV co-infected population

• Biotron has back-up drugs and proprietary assays to facilitate development of 2[nd] generation drugs

• Additional early stage drug discovery projects for Dengue and others

• Strong patent protection – 5 patent families filed worldwide

• Well positioned with significant value inflection points anticipated over next 12 months

==> picture [720 x 64] intentionally omitted <==

==> picture [720 x 106] intentionally omitted <==

==> picture [454 x 46] intentionally omitted <==

Michelle Miller Managing Director +61 2 9805 0488 +61 412 313329 mmiller@biotron.com.au

www.biotron.com.au

==> picture [720 x 118] intentionally omitted <==