Corporate Presentation January 2016 Proactive Investors 28th January - PowerPoint PPT Presentation

Allergy Therapeutics Corporate Presentation January 2016 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Introduction  We treat people with Allergic disorders  Focused on the moderate to severe patients  Providing treatments that cure the disease, not just treat symptoms  Robust revenue growth and successful M&A delivered  c. 420 employees  Spun-out from Smith Kline Beecham 1999  Headquarters and manufacturing base in Worthing, West Sussex  AIM listed: ticker AGY 2 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Strategy  Strong European business  European market share increased from 8.7% to 10.1% over last 2 years  US opportunity  Poised to execute a pivotal clinical trial programme to enable access to US – estimated $2bn market size  New therapeutic areas  Strong new product pipeline expanding the addressable markets:  Peanut allergy- estimated $8bn market size  House Dust Mite allergy- estimated $3bn market size 3 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Global presence  Sales and marketing network comprising c. 120 European sales force UK Netherlands & Latvia, Estonia Canada Germany & Lithuania Poland Austria & Czech Republic & Switzerland Italy Slovakia Portugal South Korea Greece Spain Venezuela & Columbia Peru Subsidiaries Chile Distributors Argentina New Markets Subsidiaries in 9 countries and distribution agreements in additional 10 countries 4 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Sales breakdown 1.Sales breakdown based on gross sales at budget exchange rates (before freight, discounts, rebates and exchange) : £49.3 million. After deducting discounts, rebates, freight charges and foreign exchange adjustments, total sales for FY2015 is £43.2 million 5 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

The Peanut Allergy Opportunity  November 2015- exclusive right to develop Virus Like Particles (VLP) technology for allergy vaccines  Carrier system to present allergens to the immune system  First development will be for peanut allergy  Currently no established and safe treatment available  Commencing an R&D investment programme of c.£3m to progress the programme through to the start of Phase I trials over a 2-3 year period  Peanut represents a new opportunity into the $8bn worldwide food allergy market 6 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

The US opportunity  Immunotherapy is expected to grow at a CAGR of 11% to 2020*  Estimated market: cost to payer $2 billion**  Currently no registered injected products  Clinical Development Plan for PQ Grass on track  Opportunity fully funded  Estimated launch 2019  Estimated peak grass sales US$300- US$400 million *Visiongain, AR forecast 2014 **Piper Jaffray Update on the AR market, Sept. 2008. Datamonitor 7 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

PQ product opportunity Allergy Therapeutics’ entry in the US Current US SCIT market • • Home made preparation Standardised dose vaccine • • Non GMP manufacturing GMP manufactured • • Non registered FDA submission planned in 2018 • • No clinical evidence Multiple clinical studies • • Long courses of treatment: Ultra- short course treatment: • • 50 to 100 injections 4 injections • • Slow to act: 6 to 12 months Efficacy in 3 weeks • • Low compliance High compliance 8 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Keys to Success for PQ in the US  Proprietary Technology  IP Protected  De-risked opportunity • Treated more than 250,000 patients and marketed in 7 countries  Building on Progress to date in the US: • US$ 100 million invested in clinical studies to date • 14 clinical trials completed to date, including Phase I, II & III successful studies • Investigated in over 3,000 patients worldwide, mainly in the US  Strategic fit for US market* • Pollinex Quattro is an injected product for an injected market  First mover advantage • First to market in the seasonal injected segment • High entry barriers: regulatory requirements for extensive trials on efficacy and safety Source : * The Current States of Therapy for Allergic Rhinitis in the United States. Lawrence Du Buske, MD. 9 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Competitive Landscape Four listed companies compete to lead the market in Europe and the US • ALK • Grastek: SLIT-Pill for grass allergy. Launched in the US • Ragwitek: SLIT-Pill for ragweed allergy. Launched in the US • Stallergenes • Oralair: SLIT-Pill for grass allergy. Launched in the US • Allergy Therapeutics • Pollinex Quattro: ultra-short SCIT for grass allergy. US launch expected in 2019 • Circassia • ToleroMune: ultra-short SCIT for cat allergy. In clinical development 10 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

2016 Expected News flow Q1 2016 US- PQ Grass 204- recruitment update 8 March Interims Q2 2016 Europe- PQ Birch 204- headline results Q2 2016 US- PQ Grass 204- headline results Q4 2016 US- Initiate G306 study recruitment Q4 2016 Europe- Clinical Trial Approval for PQ Birch 301 11 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director

Summary  Immunotherapy is expected to be the fastest growing segment in the allergic rhinitis treatment market  Raised £20m March 2015 (21p) to fund US opportunity for Pollinex Quattro Grass  Planned launch in 2019  Raised £11m November 2015 (28p) to  Accelerate core business growth  Open peanut allergy opportunity • Strong trading in the first half of the financial year: +12% growth at constant currency We are delivering on all aspects of our growth strategy 12 Proactive Investors 28th January 2016 – Ian Postlethwaite, Finance Director