Oasmia Pharmaceutical : Presentation Sachs Biotech in Europe Forum

SACHS 20TH ANNUAL BIOTECH IN EUROPE FORUM

F.R. Martelet, M.D., CEO

21 - 24th September 2020

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Forward-looking statement

IMPORTANT NOTICE

The information in this presentation shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would require preparation of further prospectuses or other offer documentation, or be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

No representation or warranty expressed or implied is made as to, and no reliance should be placed on the fairness, accuracy, completeness or correctness of the information or opinion contained herein.

The information in this presentation may not be forwarded or distributed to any other person and may not be reproduced in any manner whatsoever. Any forwarding, distribution, reproduction, or disclosure of this information in whole or in part is unauthorized. Failure to comply with this directive may result in a violation of the Securities Act or the applicable laws of other jurisdictions.

FORWARD LOOKING STATEMENTS

This presentation contains forward-looking statements that reflect management's current views with respect to certain future events and potential financial performance. Although Oasmia believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the forward-looking statements as a result of various factors.

Important factors that may cause such a difference for Oasmia include but are not limited to: (i) the macroeconomic development, (ii) change in the competitive climate and (iii) change in interest rate level.

This presentation does not imply that Oasmia has undertaken to revise these forward-looking statements, beyond what is required by applicable law or applicable stock exchange regulations if and when circumstances arise that will lead to changes compared to the date when these statements were provided.

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Oasmia - an innovation-focused specialty pharmaceutical company

Founded in 1999 HQ Uppsala, Sweden 26* employees

XR-17™ technology platform,

allowing micelle formulations of APIs, to be

soluble in water - broad applications in oncology, human and animal health

Lead product Apealea® approved in EU/EEA for advanced ovarian cancer, partner Elevar in discussions with FDA; global commercial deal worth up to $698m + royalties

NASDAQ Stockholm 2010 Market Cap approx. SEK 2,1 B

R&D-certified Production Facility and R&D, in Uppsala,

Sweden

New CEO in place since March 2020

3	*By end of Q1 2021

Building a sustainable, profitable specialty pharma company

MEETING UNMET	APEALEA® APPROVED	A GLOBAL
MEDICAL NEED	IN EUROPE	PARTNERSHIP
IMPROVING SOLUBILITY &	LEAD PRODUCT LAUNCHED	WORTH UP TO $678
SIDE EFFECT PROFILS OF	FOR ADVANCED OVARIAN	MILLION PLUS ROYALTIES
ESTABLISHED & NOVEL	CANCER
CANCER DRUGS
INCREASING R&D
EFFICIENCY

A GROWING PIPELINE	POSITIONED FOR M&A,	NEW MANAGEMENT &
	IN/OUT-LICENSING	STRATEGY
UNDERPINNED BY STRONG	PROVEN DEVELOPMENT,	FOCUSING RESOURCES
IP PROTECTION	REGULATORY AND BD SKILLS	TO ​BUILD A SUSTAINABLE,
	+ SOLID CASH POSITION	PROFITABLE BUSINESS

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The new team leading Oasmia's transformation

FRANCOIS MARTELET, M.D., Master's

Degree Business

Chief Executive Officer

Previous experience:

CEO in Biotechnology/ BioPharma in UK, DNK, US and senior executive global roles at Novartis Oncology, Merck & Co., Inc with large P&L responsibility

ANDERS HÄRFSTRAND, M.D., PhD.

Non-executive Chairman

Previous experience: Experienced

Pharma BoD, M&A experience, former executive positions in Pfizer, Pharmacia.

Pharmacia & Upjohn

FREDRIK JÄRRSTEN*

Chief Finance Officer

REINHARD KOENIG, M.D.

Acting Chief Medical

Officer

HEGE HELLSTRÖM,

B.A.

Board Member

PETER ZONABEND,

LL.M, EMLE

Board Member

ELIN TRAMPE,

Chief Technical

Officer

PETER SELIN*

Chief Business

Officer

BIRGIT STATTIN

NORINDER, MSc.

Board Member

5 *Start date TBC

Meeting the challenges of poor drug solubility

POOR API1 SOLUBILITY

MAJOR CHALLENGE IN DRUG DEVELOPMENT

CRITICAL TO DRUG

BIOAVILABILITY

c.40% OF APPROVED

DRUGS AFFECTED2

70-90% OF PIPELINE DRUGS CLASSED AS POORLY SOLUBLE2

LEADING CAUSE OF PROJECT TERMINATION

A FACTOR IN SERIOUS

ADVERSE EVENTS (SAEs)

SOLUBILITY ENHANCERS CAN CAUSE SAEs AND / OR REQUIRE USE OF FURTHER DRUGS

AN ACCEPTED TRADE OFF IN CANCER THERAPY

$180 bn		69%
	OF DRUGS
SPENT ON
	FAIL DUE TO
PHARMA R&D
LOW
EVERY YEAR	3
SOLUBILITY 3

	1)	API = Active Pharmaceutical Ingredient - the ingredient in a pharmaceutical drug that is biologically active
6	2)	Nikolakakis & Partheniadis
3)	GlobalData

XR-17™ - powerful platform that can increase solubility of insoluble compounds

Active Pharmaceutical Ingredient

(API)

XR-17™

XR-17™ + API

WATER INSOLUBLE

Hydrophilic head Hydrophobic chain

WATER SOLUBLE

XR-17™ increases small molecule solubility and potentially improves

safety and efficacy of new formulations

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XR-17™ - a validated platform applicable in many therapeutic areas

Strong, validated safety in cancer indication1

Drug load capacity, enabling high drug delivery capability

Shorter infusion time1,2

Superior solubility compared with other platforms and technologies, enhances bioavailability of API

No mandatory or limited need for pre- medication1

Free from alcohol, Cremophor EL, Polysorbate-80 and Human albumin, which can cause numerous side effects

Enable new	Improve	2nd chance for
drugs	existing drugs	failed drugs

8	1)	Apealea Summary of Product Characteristics. www.ema.europa.eu
2)	Paclitaxel 6 mg/ml Summary of Product Characteristics. https://products.mhra.gov.uk

XR-17TM - multiple opportunities in oncology, human and animal health

XR-17™

	ANIMAL	ONCOLOGY	OTHER
	HEALTH	THERAPEUTIC
				AREAS
Lymph-	Lung			Cervical
oma	cancer			cancer
Masto-	Prostate	Breast	Ovarian	Bladder
cytoma	cancer	cancer	cancer	cancer

Docetaxel Micellar

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Building a diverse portfolio based on XR-17™ platform technology

						Registration /
Product	Indication	Pre-clinical	Phase I	Phase II	Phase III	approval	Geography
Human Health Portfolio
Apealea® /	Ovarian cancer					Pre-NDA meeting	USA
Paclical®
Ovarian cancer						EU / EEA1
(paclitaxel)
Technology Platform Portfolio
Docetaxel	Prostate cancer		Planned				Global
micellar
New API	Undisclosed						Global
XR19	Assessments in						Global
(combination)	various cancers
Animal Health Portfolio
Paccal vet	Mammary
Carcinoma					No	US
(paclitaxel)
(Canines)
Doxophos vet	Lymphoma					No	US
(doxorubicin)	(Canines)

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XR-17™ - broad IP protection up to 2036

PROCESS

Protects the

manufacturing process

for XR-17™

PCT applicationgranted

4	patents granted
In USA, ZAF

Application pending in Eurasia, European Patent Office, AUS, BRA, CAN, CHN, IND, IDN, JPN, MYS, MEX, NZL, KOR, SGP and

UKR

WATER-INSOLUBLE

Protects poorly water-

soluble APIs1 in combination

with XR-17™

56 patents granted

across Eurasia, European Patent Office, AUS, CAN, CHN, HKG, JPN, KOR, MEX, MYS, NZL,

UKR, USA, ZAF

SPC applied for in the EU, pending

(5-year extension)

ANTICANCER COMPOSITIONS

Protects XR-17™ in combination with chemotherapeutic agents

6 patents granted

In USA, FRA,

GBR, DEU, CHN

and HKG

1) active pharmaceutical ingredient

11 PCT, Patent Cooperation Treaty

SPC, Supplementary Protection Certificates

Apealea® - offering improved treatment options

Approved in

EU/EEA for		Current standard of care in Ovarian cancer is carboplatin + paclitaxel
treatment of first
relapse ovarian	Subset of patients cannot tolerate solvent-based paclitaxel
cancer1 and in
Russia for first line	Apealea® is an IV injectable formulation using XR-17™ which
and relapsed
	facilitates solubility of paclitaxel
ovarian cancer	2

	1) Apealea® Summary of Product Characteristics. www.ema.europa.eu
12	2) Paclical® Instructions for medical use. https://grls.rosminzdrav.ru

The growing taxane market for ovarian and other cancers

The 2018 global injectable taxane market was valued at $2.18B

The market is expected to grow $4.56B by the end of 2025 (CAGR 11% 2019 - 2025)

Taxol®

• Paclitaxel - cremophor EL
• Ovarian, breast, lung and Kaposi Sarcoma cancers
• Best selling drug of all time with annual sales of $1.6B prior to patent expiration (2000)

Taxotere®

• Docetaxel - polysorbate 80
• Breast, lung, prostate and head & neck cancers
• Peak sales $3B (2010)
• ~$170M (2019)

Abraxane®	Jevtana®
•	Paclitaxel - albumin bound
•	Cabazitaxel - polysorbate 80
•	Breast, lung and pancreatic cancers
•	Prostate cancer
•	$1.35B (2019)
•	~$480M (2019)

Apealea® is the only non-cremophor drug approved for use in advanced stage

ovarian cancer in the EU

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Apealea® - multiple benefits compared to the competition

Company
		Ovarian Cancer		Ovarian Cancer	Ovarian Cancer
Indication	Ovarian Cancer	Breast Cancer	Breast Cancer	Breast Cancer	Breast Cancer
		NSCLC		NSCLC	NSCLC
Infusion Solution	Micellar Solution	Emulsion	Colloidal Suspension	Liposome	Micellar Solution
Particle Size	25nm	10-22nm	130nm	400nm	~25nm
Excipient	XR-17™	Cremophor EL	Human Albumin	Lecithin/Cholesterol	PEG-PDLLA
Dose	250mg/m2	175mg/m2	260mg/m2	175mg/m2	260mg/m2
Ratio	1.3:1.0	88.0:1.0	9.0:1.0	-	5.0:1.0
（Excipient：API）
Infusion Time	1h	3h	<1h	3h	0.5h
Pre-medication	Not mandatory	Yes	No	Yes	No
Hypersensitivity	No	Yes	No	Yes	No

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Apealea® - meeting unmet medical needs in selected ovarian cancer

OVARIAN CANCER INCIDENCE1

7000066300

60000

Incidence	50000
40000
	30000	26600	24500
	20000
	10000
	0
	Main Asia *	EU Top 5	US

295,000 women diagnosed in 2018 - 8th most common cancer in women1

70% of women have a relapsethreeyears after diagnosis2

Platinumanalogs used

alone or in combinationwith paclitaxel are the most used therapeutic agents3

*) China, Japan and South Korea 1) Global Cancer Observatory

15 2) Springerplus. 2016; 5(1): 1197. Published online 2016 Jul 28. doi: 10.1186/s40064-016-2660-0

3) ESMO guidelines: Annals of Oncology 30: 672-705, 2019 doi:10.1093/annonc/mdz062 Published online 2 May 2019

Apealea® - global partnership worth up to $698m + royalties

	Agreement with US-based Elevar
	Therapeutics, subsidiary of South
	Korea's HLB
$20M	Upfront payment
%	Double digit royalties on global
Apealea® sales
$678M	Milestones based on regulatory and
sales achievements

Oasmia retains sole control over development of XR-17TM in other APIs

Named patient program initiated with Tanner Pharma Group ex US

Elevar considering European partners for commercial sales

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Docetaxel micellar in clinical development

• Prostate cancer is a leading cause of cancer death in men worldwide
• Widely approved for wide range of solid malignancies and standard of care for advanced prostate cancer
• Docetaxel micellar uses XR-17™, enabling IV administration of water- insoluble compounds without traditional solubility enhancers
• Being investigated for advanced prostate cancer in a Phase I clinical trial with the Swiss Group for Clinical Cancer Research (SAKK)

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Sustaining Oasmia's transformation since CEO appointment

• Strategic
• • Working progress on
  • Achieving Elevar deal milestones
  • Creating revenue opportunities for the animal health business and for XR-17™
• Human Resources
• • Reviewed and implemented right-sizing of the organization
  • Strengthened management team with C level hires

• Operational
• • Articulated and implemented docetaxel micellar clinical development plan incl. a collaborative agreement with
    SAKK
  • Preclinical work with new API and XR-19on-going
  • Starting up a Patient Access Program in the EU through Elevar
• Financials
• • Implemented cost savings of SEK 100m and burn rate of less than SEK 10m/month
  • Resolved large corporate liabilities
• Investor Relations
• • Broadened research coverage

Opportunity to build long-term, profitable specialty pharma company through in-house R&D, M&A, and in-licensing of late-stage assets

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Oasmia - An investment opportunity

• Commercial stage company with proven ability to bring promising new products to market
• XR-17- validated technology platform applicable across range of therapeutic areas
• Transformational global strategic partnership with Elevar Therapeutics - lucrative milestones and revenues
• Strong cash position - well placed to pursue high value M&A licensing opportunities
• Strong and experienced management team focused on delivering growth

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Multiple potential near and mid-term

catalysts & value drivers…

• Elevar partnering for Apealea® in Europe, China
• Apealea® royalties
• Docetaxel micellar Phase 1 initiation / phase 2 initiation
• Review of Animal Health assets
• XR-17™partnering
• M&A and in-licensing opportunities to build critical mass
• XR-19value assessment

Solid foundations in place to build a profitable speciality pharma company

Platform to build a Sweden-

based cash-flow positive specialty pharma leader

Realising our vision

for success

Well placed for M&A and licensing

collaborations

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