Patrys : Updated Investor Presentation and Attendance at Bioshares

ASX & Media Release

Updated investor presentation and attendance at Bioshares

Melbourne, Australia; 24 July 2019: Patrys Limited (ASX: PAB, "Patrys" or the "Company") is pleased to release an updated investor presentation. The presentation will be used to update to shareholders, investors and potential strategic partners on the ongoing development of the Deoxymab 3E10 platform. Patrys will also be attending the 15th Bioshares Biotech Summit held on 26 to 27 July in Queenstown, New Zealand.

Patrys Chief Executive Officer and Managing Director, Dr. James Campbell said: "The Bioshares conference provides a great opportunity for Patrys to showcase the promising pre-clinicaldata from our Deoxymab 3E10 platform. Our lead candidate, PAT-DX1represents a truly novel approach to cancer treatment. With a unique mechanism of action and its ability to cross the blood brain barrier, PAT-DX1could dramatically improve patient outcomes across a range of difficult to treat cancers."

The updated investor presentation outlines Patrys' key investment highlights, development progress, pre-clinical data in initial target indications (glioblastoma and triple negative breast cancer brain metastases) and outlook. The annual Bioshares Summit attracts biotech CEOs, pharmaceutical licensing executives, fund managers, and retail investors from around the world.

-Ends-

To learn more please visit: www.patrys.com

For further information, please contact:

General enquiries	Media enquiries:
James Campbell	Kyahn Williamson
Chief Executive Officer	Buchan Consulting
P: [phone]	P: [phone]
[e-mail]	[e-mail]

About Patrys Limited

Based in Melbourne, Australia, Patrys (ASX:PAB) is focused on the development of antibodies as therapies for a range of different cancers. Patrys has a pipeline of anti-cancer antibodies for both internal development and as partnering opportunities. More information can be found at www.patrys.com.

About Patrys' Deoxymab 3E10 platform - lead candidates PAT-DX1 and PAT-DX1-NP:

Deoxymab 3E10 is a DNA damage-repair antibody that was first identified in lupus. Of particular interest is that whilst most antibodies bind to cell surface markers, Deoxymab 3E10 penetrates into the cell nuclei and binds directly to DNA where it inhibits DNA repair processes and kills cells that have mutations or deficiencies in DNA repair mechanisms as found in various cancer cells. Deoxymab 3E10 has demonstrated single agent activity and

has been shown to significantly enhance the efficacy of both chemotherapy and radiotherapy. Further, Deoxymab 3E10 can be conjugated to nanoparticles to target delivery of chemotherapeutics and imaging agents to tumours.

Patrys has developed a humanised form of Deoxymab 3E10, PAT-DX1 with improved activity over the original version of 3E10, and is progressing this, and a nanoparticle-conjugated form (PAT-DX1-NP) towards the clinic. In

1. range of pre-clinical cancer models PAT-DX1 has shown significant ability to kill cancer cells in cell models, human tumour explants, xenograft and orthotopic models. Treatment with PAT-DX1 has been shown to significantly improve survival in orthotopic models of both triple negative breast cancer brain metastases and glioblastoma. Significantly, PAT-DX1 has repeatedly been shown to be able to cross the blood brain barrier, a significant hurdle for therapeutics to combat brain cancers.

Patrys' rights to Deoxymab 3E10 are part of a worldwide license to develop and commercialise as anti-cancer and diagnostic agents a portfolio of novel anti-DNA antibodies and antibody fragments, variants and conjugates discovered at Yale University.

Investor Presentation

July 2019

Dr James Campbell

CEO and Managing Director

Private & Confidential

Patrys has a world first cell-penetrating antibody platform

Novel biologics	Promising pre-	Multiple options for	Favourable
platform	clinical results	development	macro themes
Antibody platform which	Supresses tumour growth	Multiple pre-clinical studies	Large pre-clinical biologics
inhibits key mechanism of	and increase survival rates	ongoing and planned in	deals relatively common
DNA repair in tumour cells	in animal studies	CY19 / CY20	Focusing on two hard-to-
	Positive data for PAT-DX1
Crosses Blood Brain Barrier	On-track to file IND in CY20	treat cancers, streamlining
No safety issues to date	as a single agent, in both	then enter the clinic	development timelines
combination and	Growing interest /	Target addressable markets
	conjugated approaches
		potential BD opportunities	worth ~US$1bn p.a.1
Potential game changer	Presented at scientific	Derisked by multiple	Patrys is operating in an
for cancer treatment	and industry conferences	development pathways	attractive space

1. Addressable market includes glioblastoma (GBM) and Triple Negative Breast Cancer (TNBC) brain metastasis . GBM addressable market sourced from GlobalData, TNBC

addressable market sourced from report 'TNBC - Market Insight, Epidemiology and Market Forecast' and assumes ~50% of TNBC patients develop brain metastases

2

Relative to small molecules, biologics typically transact at an earlier stage and at higher valuations

Proportion of total deals1		Number of pre-clinical deals1
Majority of biologic deals occur at		Significantly more interest in
the pre-clinical stage		pre-clinical biologic assets

Pre-clinical avg. deal size1,2

Pre-clinical biologic deals executed

at higher valuations

Pre-clinical Clinical

41%

61%

59%

39%

72

32

US$428m

US$235m

Small	Biologics	Small	Biologics
		Small Molecule	Biol ics
molecules		molecules

Small	Biologics
molecules

The value of Patrys' novel therapy is underpinned by potential for

multiple applications to achieve better patient outcomes

Source: GlobalData

1. Small molecules and biologics transactions between 2017 and 2019

2.

Deal size includes upfront and potential milestone payments

3