Sienna Cancer Diagnostics : Investor update January 2020

2. Boosting the growth of hTERT revenue

hTERT is your company's first cancer diagnostic test - it is being regularly used by clinicians to assist in the diagnosis of bladder cancer. Sienna took this test from a laboratory discovery to a commercial assay registered with the FDA and used in clinical pathology laboratories, an impressive achievement for an Australian company. The test has significant growth potential globally and to realise that potential, Sienna is committed to undertaking the following initiatives in 2020:

• To assist in executing the following initiatives, we aim to assemble a Clinical Advisory Board (CAB) comprising Key Opinion Leaders in bladder cancer in Australia and the USA. The role of the CAB will be to enhance the profile of hTERT within the bladder cancer diagnostic community via activities including conference presentations and preparation of new scientific publications that will feature hTERT.
• Working with our current and new distributors on an effective market-based pricing strategy. We have had extensive feedback from our distributors that a more flexible approach to pricing for hTERT will significantly improve adoption and sales of the test.
• Appointing distributors in the key EU markets of Germany, France, Italy and Spain - Sienna is well advanced in discussions with a number of appropriate distribution partners.
• Stimulating our Australian marketing by more closely engaging with key pathology laboratories to showcase the clinical benefit of hTERT in bladder cancer identification and management.
• Reviewing the US regulatory position - Sienna will assess the benefits of submitting a claim to the FDA supporting hTERT's clinical utility. Having a specifically approved diagnostic claim may enhance and further differentiate hTERT from competitors and also provide the opportunity to obtain our own unique reimbursement code, which should secure a higher reimbursement for hTERT.

The company believes these changes will have a positive impact on sales growth of hTERT.

3. Actively expanding our cancer diagnostic pipeline assets

Sienna is in active discussions with a number of research organisations and companies in Australia and overseas to in-license novel cancer biomarkers that can be developed and commercialised as new diagnostic tests to meet our goal of facilitating improved early and accurate diagnosis of cancer.

In addition, your company is expanding its corporate activities, seeking suitable acquisitions or partners that, when combined with Sienna, will realise synergies by creating an organisation with a broad pipeline of diagnostic tests. This will generate significant value for our shareholders and improve the lives and health of millions of patients worldwide.

Your company's Board believes that successful execution of these strategies will create significant value for Sienna in high-growth areas.

In summary, Sienna has a carefully considered strategy, based on expanding, developing and commercialising a portfolio of diagnostic tests in areas of great unmet medical need. Our recent capital raise, combined with the funds already on hand, place the company in a strong financial position to be able to execute on this strategy and build significant benefit and value for patients and our shareholders.

On behalf of the Sienna Board and management team, I would like to thank you, our shareholders, for your continued support, and look forward to an exciting and rewarding 2020.

Carl Stubbings

Chief Executive Officer & Managing Director.