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Company Overview

Integrating computational power and biology to discover life-transforming medicines

Ability to model human biology and interrogate complexity for better and faster drug discovery

• Experimentally validated computational platform centered around network biology
• Increased translatability and improved probability of success

Competitive proprietary RNAi platform developed. Convergence with computational platform to rapidly identify and prosecute novel targets to unlock further value

Experienced leadership and growing multi-disciplinaryteam. Currently 34 FTE

Scope for future partnerships, across computational and RNAi platforms

Well-funded following recent £22.5m capital raise

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Highlights (incl. post period)

Significantly strengthened cash position to facilitate a number of initiatives, expanding the Company's platform capabilities and acceleration of the development of in-house RNAi pipeline

RNAi platform development

• Successful proprietary GalNAc-siRNAplatform developed and characterised. Equivalent performance to leading platforms demonstrated
• 11 patent applications filed to protect innovative GalNAc-siRNA construct designs

Computational platform - zooming into hepatocytes

• Hepatocyte Knowledge Graph created and ambitious experimental omics data strategy underway
• Expanded target identification focus and creation of tailored computational applications in hepatocytes and RNAi
• Increased automation and cloud computing

Collaborations - further validation of our computational platform

• Galapagos collaboration: Hit compounds successfully identified and 3 milestone payments received during the period. Collaboration active and hits being further investigated. Scope for further milestones through pre-clinical, clinical and commercial

Corporate

• Successful £22.5m gross fund raise from new and existing shareholders
• Commenced trading on OTCQX Best Market in the U.S. - important step to broaden shareholder base
• Board and leadership changes and significant increase in scientific staff

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Financial Summary: Six months ended 31 July 2021

Financial Highlights

• Strengthened financial position following successful fund raise of £22.5m gross
• Continued to carefully manage the underlying cash burn

1. focusing on generating income and achieving external commercial validation with our partners and;

1. investing in a new RNAi platform

Financial Outlook

• Underlying cash burn in H2 expected to be higher than H1

1. further progress R&D activities

o build administrative infrastructure to support scaling of business

* £13.0m as of 31 January 2021 5