COMPANY PRESENTATION JUNE 2016

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COMPANY

PRESENTATION

JUNE 2016

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Agenda

Business Overview and ‘‘Next Level’’ Strategy

Market

TLR9 Agonist Product Family: • Lefitolimod (MGN1703)

• EnanDIM® – New Generation of Immunomodulators

MGN1601 – Therapeutic Vaccination against Cancer Key Financials and Outlook 2016

Appendix

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MOLOGEN Snapshot

Management Board

 Extensive expertise and experience in the biotechnological and pharmaceutical industry

 Co-founder of the biopharmaceutical company PAION AG, Germany

 Extensive expertise in the biotechnological and pharmaceutical industry (Nuvisan GmbH, Santhera Pharmaceuticals Group)

 Long-standing experience in finance and management Dr. Mariola Soehngen, CEO (since Nov 2015)

Walter Miller, CFO (since Apr 2016) • Based in Berlin, Germany; founded

1998

• ~ 65 employees

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MOLOGEN Shares

24% 6% 6% 5% 5% 54%

Global Derivative Trading GmbH Baloise Holding

Deutscher Ring Krankenversicherungsverein a.G.

Salvator Vermoegensverwaltungs GmbH Deutsche Balaton Aktiengesellschaft

• ISIN DE0006637200

• Shares issued: 22,631,501

• Market capitalization ~ €87m (31 March 2016)

• Frankfurt Stock Exchange (Prime Standard): MGN | Reuters: MGNG.DE

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Close-to-market compounds

• Focus on family of TLR9 agonists:

• Lefitolimod (MGN1703) • EnanDIM®

Highly attractive markets

• Immunotherapies: A new megatrend

• Cancer treatments: A multi-billion US-$ market

Close network with scientific institutions & experts

Biotechnology company with focus on immunotherapies

• One of the pioneers in immunotherapies

Highly qualified & dedicated team

• Long-term experience, in particular in R&D of DNA- and cell-based products

MOLOGEN AG

Company Overview

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New Strategy ,,Next Level” – Shift from Research- to

Product- and Market-Oriented Company

• Strong market- and product-oriented strategy program • Focus on close-to-market compounds:

• Lead product immunomodulator lefitolimod (MGN1703)

• EnanDIM®_{: Lefitolimod successor molecules and next-generation}

technology

• MGN1601: Shelve clinical development – backup compound • MIDGE®_{technology: Divestment or spin-off}

• Streamline company’s organizational structure

• Accelerate commercialization of products via out-licensing

Create added value

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Target Portfolio: Focus on Lead Product Lefitolimod and

Its Next-Generation Compound EnanDIM

®

DNA-based TLR9 agonists (ISRs) • Bind to TLR9 receptors • Several Immune Surveillance Reactivators (ISR) in development: • Lefitolimod (MGN1703): Four trials

• EnanDIM: New class of linear TLR9 agonists • Suitable for mono- and

combination therapies

• DNA-based, non-viral

vector system: gene ferries • Three products in development: • MGN1404 (malignant melanoma) • MGN1331 (leishmaniasis) • MGN1333 (hepatitis B)

• Genetically modified human renal cancer cell line using MIDGE® platform –

combined with low-dose lefitolimod as adjuvant • Phase I/II data available • Orphan drug status

Cell-based therapeutic vaccination (MGN1601)

MIDGE®_{Vector System}

Focus

Divestment/Spin-off

Backup

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Advanced Product Pipeline with

Strong Focus on Cancer Immunotherapies

Lefitolimod (MGN1703)1,2 HIV EnanDIM1 Oncology & Anti-infectives

Preclinical Phase II Phase III

Lefitolimod (MGN1703)1 SCLC Lefitolimod (MGN1703)1 Colorectal cancer Phase I

1_{Immune Surveillance Reactivator and TLR9 agonist} 2_{Collaboration with University Hospital Aarhus, Denmark}

3_{Collaboration with MD Anderson Cancer Center, Texas, US; study is} expected to start in Q2 2016

Lefitolimod (MGN1703)1 Other solid tumors

Lefitolimod (MGN1703)1 + ipilimumab (Yervoy®)3

Advanced solid malignancies

MGN1601

Renal cancer

Oncology

Infectious diseases

Oncology & Infectious diseases Oncology combination trials

SCLC small cell lung cancer

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Target Product Portfolio – Focus on TLR9 Product

Family: Lefitolimod and EnanDIM

®

Platform Compound Indications PC PH I PH II PH III Study Cooperation partners DNA- based TLR9 agonists (ISR) Lefitolimod (MGN1703)  Metastatic colorectal cancer (mCRC) IMPALA -

 Small cell lung

cancer (SCLC) IMPULSE -

 HIV TEACH Aarhus University Hospital  Advanced solid malignancies Lefitolimod & ipilimumab MD Anderson Cancer Center

EnanDIM  Cancer / anti-

infective therapies

Therapeutic Vaccine (cell-line)

MGN 1601  Renal cancer On hold: backup compound

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Strategic Focus: Outlicensing of Products to Generate

High Returns – Focus on Lefitolimod

High returns in the mid- and long-term

Partnering agreement for lefitolimod (MGN1703) Shelve clinical development of MGN1601 Backup compound High market potential

Ensure funding of

lefitolimod (MGN1703) until filing/approval

Initiate new projects Initiate combi trials; extend and advance

product pipeline: ensure long-term growth

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Agenda

Business Overview and ‘‘Next Level’’ Strategy

Market

Appendix

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Oncology Market: Leading Therapy Category

Business Overview

Market

lefitolimod (MGN1703) – Cancer Immunotherapy

MGN1601 – Therapeutic Vaccination against Cancer

EnanDIM – New Generation of Immunomodulators

Key Financials and Outlook 2015

Appendix

Worldwide Prescription Drugs in US$ billion Worldwide Oncology Drugs in US$ billion

• Pharmaceutical Industry and prescription drug sales return to growth

• “Patent cliff” overcome

• Oncology remains the largest segment • Highest growth rate & strongest sales

increase worldwide in the long-term • Immunotherapies represent emerging

field => new mega-trend with US$ 35 billion market potential

2014 2020 743 987 CAGR +4.8% 2014 2020 CAGR +11.6%

Source: EvaluatePharma 2015 | CAGR Compound Annual Growth Rate

153

79

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Colorectal Cancer & Lung Cancer: High Growth Expected

Colorectal Cancer

Sales in US$ billion1

Lung Cancer

Sales in $US billion2

SCLC

Sales in $US billion3

• Launch of premium-priced adjuvant / maintenance therapies will extend first-line treatment

• Most common cancer worldwide in terms of incidence and death

• High income countries have more than double the lung cancer incidence of low income countries

• Main drivers for growth: novel immunotherapies 8.3 9.4 2013 2020 CAGR +1.8% 4 13 2010 2020 CAGR +12.5% 0.2 2.3 2014 2024 CAGR +27.7%

1_{5EU, US, Japan & Canada; Source: ResearchandMarkets Jan 2015} 2 _{G7 Countries; Source: MarketsandMarkets Nov 2011 |}3_{5EU, US, Japan;}

Source: GlobalData, Jan 2016| CAGR Compound Annual Growth Rate I SCLC small cell lung cancer

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Incidences Oncology1 _{Incidences by Oncology indication 2012}2

• Aging populations will increase incident case rates in all markets covered

• Cancer rates for all cancers combined rise with increasing levels of country income

• Total number of estimated cancer cases: 14.1 million

Oncology Market: Sharp Increase of Incidences

14m 20m 2012 2025 +40% 1.8m 1.7m 1.4m 9.2m Lung Breast Colorectum Other

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Combination Therapies: The Next Opportunity

• Combination therapies are expected to be launched in increasing numbers in the coming years

• Treatment options will increase with launch of new immunotherapeutic agents • Combination of immunotherapy with chemotherapy offer new potential for

breakthrough outcomes

Source: IMS Institute for Healthcare Informatics: “Global Oncology Trend Report 2015 “

New partnering opportunities

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Cancer Immunotherapies: New Megatrend

Science Magazine:

“Breakthrough of the Year 2013“

US$ 35,000,000,000 market potential*

*Source: Citi-Bank 2013 – estimated peak sales

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Chemotherapy

• Fast effect in many patients • Effect not lasting

Immunotherapy

• Needs time to be effective

• Long-lasting effect in a subgroup of patients Control group Chemotherapy time Patients alive in % Immunotherapy Control group time Patients alive in % Ca. 10%

Cancer Immunotherapy: Superior Treatment - How to

Increase Overall Survival?

“Combi-therapy”

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Agenda

Business Overview and ‘‘Next Level’’ Strategy Market

TLR9 Agonist Product Family:

• Lefitolimod (MGN1703)

Appendix

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Lefitolimod (MGN1703): ‘Best in Class’ TLR9 Agonist

• Activation profile and chemical structure supports application in cancer therapy

• High dosing over long periods of time without major toxic effects

• Clinical strategy optimized for lefitolimod (MGN1703) TLR9 activation pattern

Light blue area: recognized by TLR9 receptor

Maximized probability of success compared to other TLR9 agonists

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Activating the Immune System to Fight Cancer

mDC myeloid dendritic cell | NK cell natural killer cell | NKT cell natural killer T cell | pDC plasmacytoid dendritic cell

Cancer

patient

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IMPACT

–

Phase II Study in Colorectal Cancer

Generated Sustained Long-Term Responses

• Primary endpoint met: Progression free survival (HR 0.55, p=0.04)

• Secondary endpoint “Overall Survival”: Median OS 22.6 months (lefitolimod (MGN1703))

vs. 15.1 months (p=ns), and in subgroup (relevant pts for phase III): Median OS 24.5 months (lefitolimod (MGN1703)) vs. 15.1 months (p=0.069)

• Predictive biomarkers identified: Tumor reduction by induction therapy, normalized CEA level, presence of activated NKTs

• Follow-up of four patients who continued MGN1703 treatment in compassionate use programs since no relapse at end of study:

 3 patients progression-free in excess of 47-55 months as of August 2015

 Excellent safety and tolerability, also when treated long-term

Findings from subgroup analyses were used to optimize the phase III study design CEA carcinoembryonic antigen - a tumor marker for colorectal cancer | HR Hazard Ratio | NKT Natural Killer T cells | ns not significant

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CI confidence interval | HR hazard ratio | mPFS median progression-free survival MGN1703 (n=43) Placebo (n=16) mPFS [95% CI] 2.8 months [2.8-4.1] 2.6 months [2.5-2.8] HR=0.55 [95% CI: 0.3-1.0]

• PFS from start of maintenance (local assessment)

• ~10% long-term responders

4 progression-free patients still on treatment at end of study

IMPACT– Primary Endpoint Provides Proof of Efficacy

AS OF MARCH 2013

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IMPACT – Sustained Efficacy

April 2010: Patient 049 – Initial diagnosis

• Colon carcinoma with multiple liver metastases

December 2010: After induction chemotherapy

• 06/2010 - 11/2010: 9 courses of CT (FOLFIRI) + bevacizumab (biologic)

• 12/2010: Response to induction CT: PR*

March 2015: Under maintenance therapy

• Since 12/2010: Lefitolimod (MGN1703) maintenance therapy

• New PR*_{after 9 months}

• Still ongoing PR (46months as of August 2015) • Good medical condition, mild local skin reactions, no

further toxicities

CT chemotherapy | PR partial response | *confirmed by two independent radiologists

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Lefitolimod (MGN1703) – Ongoing Clinical Trials

IMPALA IMPULSE TEACH

• Pivotal trial (phase III) • 540 patients • 8 European countries: Austria, Belgium, Estonia, France, Germany, Italy, Spain, UK • Currently Recruiting • Randomized study • 100 patients • 4 European countries: Austria, Belgium, Germany, Spain • Recruitment completed (Oct 2015) • Early Stage Study (phase I) • 15 patients (first phase); 15 patients in extension phase • Denmark • Extension phase to start shortly Metastatic Colorectal Cancer (mCRC)

Small Cell Lung Cancer (SCLC) HIV (Infectious Disease) Combination trial • Lefitolimod (MGN1703) + ipilimumab (Yervoy®₎ • Early Stage Study (phase I) • 50-60 patients • Texas, US • Study expected to start shortly Advanced Solid Malignancies 24

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IMPALA

– Pivotal Phase III Study in mCRC

PD

Lefitolimod (MGN1703)

Maintenance Re-Induction

Trial Treatment Period

Induction CT 12–30 weeks Standard first-line CT for mCRC PR/CR Responder Screening/ Randomization 1:1 Control group PD Lefitolimod (MGN1703) with induction CT Induction CT PD Start of 2nd _line

• Primary endpoint: Overall survival

• Open-label, randomized, controlled, two-arm, multinational phase III trial • 540 patients in around 120 sites in eight European countries, including Top 5

European pharma markets

CEA carcinoembryonic antigen - a tumor marker for colorectal cancer | NKT Natural Killer T cells

PD

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IMPULSE - SCLC Randomized Study

• Primary endpoint: Overall survival

• Randomized, controlled, two-arm, multinational trial with 100 patients in Belgium, Austria, Germany and Spain

• Biomarkers used as stratification factors: NSE level and NKT activation • Patient enrollment completed: end of October 2015

CR complete response | CT chemotherapy | NKT Natural Killer T cells | NSE neuron specific enolase - a tumor marker for lung cancer |

PD progressive disease | PR partial response | SCLC small cell lung cancer

Maintenance

Trial TreatmentPeriod

Induction CT 4 cycles of platinum-based therapy Standard first-line CT for extensive disease SCLC PR/CR Responder Screening/ Randomization 3:2 Experimental Group:

5th_{cycle of platinum based}

CT followed by lefitolimod (MGN1703) maintenance Control Group: 5th_{cycle of platinum} based CT followed by local practice PD PD Start of 2nd _line 26

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TEACH – Phase I Study in HIV

• Collaboration agreement with Aarhus University Hospital, DK conducting the

study; funding received from the American Foundation for AIDS research (amfAR) • MOLOGEN provides lefitolimod (MGN1703)

• More patients to be treated for 6 months in extension phase based on broad activation of immune system induced by lefitolimod as shown in first phase:

 Activation of plasmacytoid dendritic cells (pDC), natural killer cells (NK) and T cells in HIV patients during the antiretroviral therapy (ART)

• Final results expected in Q2 2017

Potential expansion of applications

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Combination Trial with Lefitolimod (MGN1703) and

Ipilimumab (Yervoy

®

)

• Collaboration with MD Anderson Cancer Center, US, Texas

• First combination study of lefitolimod (MGN1703) with checkpoint inhibitor, commercially available ipilimumab (Yervoy®_{), manufactured by Bristol-Myers}

Squibb Co.

• MD Anderson Cancer Center conducts the trial; MOLOGEN provides lefitolimod (MGN1703) and funding for the trial

• Phase I trial in 50-60 patients with advanced solid malignancies, mainly melanoma

Potential expansion of applications

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Lefitolimod (MGN1703) – Milestones Clinical Trials

mCRC metastatic colorectal cancer | SCLC small cell lung cancer I * Study expected to start in Q2 2016

IMPALA (mCRC) – Pivotal study IMPULSE (SCLC) – Randomized study TEACH (HIV) – Phase I

First patient in (FPI)

Recruitment completed Start of primary analyses Results Start/end of first phase

Initial results of first phase; start extension

Final results 2014 2015 2016 2017 2018

First patient in (FPI)

Recruitment completed

Start primary endpoint analysis (OS)



End of recruitment Combination trial –

Phase I

First patient in (FPI) *

   Start of primary analyses Results 2019 29

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Conclusion: Late-Stage Product Lefitolimod (MGN1703)

with Unique Profile and Huge Market Potential

Best in class and most advanced in mCRC (pivotal trial)

Long-term treatment

Usable for various indications (mCRC, SCLC,…)

Superior safety and tolerability Suitable for mono- and combination therapy

Patient selection via biomarker

Blockbuster potential

mCRC metastatic colorectal cancer | SCLC small cell lung cancer

Best in class TLR9 agonist and most advanced in mCRC (pivotal trial)

Long-term treatment

Usable for various indications (mCRC, SCLC,…)

Superior safety and tolerability

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Agenda

• EnanDIM® – New Generation of Immunomodulators

Appendix

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EnanDIM

®

– Next Generation TLR9 Agonists

• New class of linear TLR9 agonists

 Combines advantages of molecules containing only natural DNA components with benefits from linear molecules

 Specific structure protects against degradation - no chemical modifications needed

• Broad immune activation shown in pre-clinical models

• Potential application in the fields of cancer and anti-infective therapies

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…Combining Advantages of Two Types of Agonists:

Linear and Not Chemically Modified Structure

• Linear molecules

• Easy and cost-effective production • Chemically modified structure ( )

Linear DNA-structure

• Closed, dumbbell-shaped structure • Only natural DNA components • Good safety and tolerability profile • One additional production step

lefitolimod (MGN1703)

EnanDIM® ₌_Enan_tiomeric_D_NA-based_I_mmuno_M_odulator

New structural feature Protection against degradation

• Linear molecules

• No chemical modifications

• Good safety and tolerability profile expected • Easy and cost-effective production

DNA sequence essential for function

(so-called “CG motifs”)

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Agenda

TLR9 Product Family:

• Lefitolimod (MGN1703)

MGN1601 – Therapeutic Vaccination against Cancer

Key Financials and Outlook 2016 Appendix

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MGN1601 – Unique Therapeutic Cancer Vaccination

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ASET Trial with MGN1601: Promising Data

Phase I/II study (12/2010 – 08/2013):

• Open-label, proof-of-principle, multi-center phase I/II trial

• 19 patients with advanced renal cell carcinoma who failed prior systemic therapies

• Primary endpoint met: Favorable safety and tolerability profile • Promising overall survival data in subgroup of patients

• Identification of potential biomarkers

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Agenda

• EnanDIM® – New Generation of Immunomodulators MGN1601 – Therapeutic Vaccination against Cancer

Key Financials and Outlook 2016

Appendix

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Key Financials Q1 2016

In € million Q1 2016 Q1 2015 ∆

R&D expenses 3.7 2.4 54%

EBIT -4.5 -3.2 41%

Cash flows from operating

activities -4.4 -2.2 100%

Cash flows from financing

activities 0 -0.7 -

Monthly cash burn 1.5 1.0 50%

• R&D expenses increased due to advanced study program

• Accordingly increase of cash burn

• Main items impacted by study progress; cash outflows accordingly

In € million 31 Mar 2016 31 Dec 2015 ∆

Total assets 21.5 26.4 -19%

Cash & cash equivalents 20.1 24.6 -18%

Equity ratio 70% 74% -5%

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Outlook 2016

• Intensify product development

 Focus on lefitolimod (MGN1703)

• IMPULSE study: start of analyses towards end of 2016 • IMPALA study: finalize patient recruitment in H2 2016 • Continue TEACH study with extension phase

• Start combination study with ipilimumab (Yervoy®_{) in patients with solid}

cancers in cooperation with the MD Anderson • Evaluation of additional combination studies • Continue partnering discussions

• R&D expenses increased due to study progress; results accordingly below FY 2015

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Key Financials FY 2015

In € million FY 2015 FY 2014 ∆

R&D expenses 16.8 13.3 26 %

EBIT -20.5 -17.1 20%

Cash flows from operating

activities -15.1 -15.6 -3%

Cash flows from financing

activities 26.2 14.5 81%

Monthly cash burn 1.4 1.4 0%

• R&D expenses increased due to positive study progress • Capital increase reflected in

financing cash flows

• Main items impacted by capital increase

In € million 31 Dec 2015 31 Dec 2014 ∆

Total assets 26.4 15.1 75%

Cash & cash equivalents 24.6 13.6 81%

Equity ratio 74% 88% -16%

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• 12 May 2016

Quarterly Statement as of 31 March 2016 • 11 August 2016

Annual General Meeting • 11 August 2016

Half-Yearly Financial Report as of 30 June 2016 • 07 November 2016

Quarterly Statement as of 30 September 2016

Claudia Nickolaus

Head of Investor Relations & Corporate Communications Phone: +49-30-841788-38 Fax: +49-30-841788-50 [email protected] www.mologen.com

MOLOGEN®_{, MIDGE}®_{, dSLIM}®_{, and EnanDIM}® _{are registered trademarks of the MOLOGEN AG}

Financial Calendar and Contact Details

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Agenda

• EnanDIM® – New Generation of Immunomodulators MGN1601 – Therapeutic Vaccination against Cancer

Key Financials and Outlook 2016

Appendix

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IMPACT – Phase II Study Design and Results

• Primary endpoint: Progression-free survival

• Double-blind, randomized, placebo-controlled, two-arm, multinational phase II trial with 59 mCRC patients

• Predictive biomarkers identified: Tumor reduction by induction therapy, CEA level, NKT activation

• Start: June 2010 – primary completion date: February 2013

*_{at investigators discretion}

Maintenance

Trial Treatment Period

Induction CT 4.5-6 months mCRC patients treated first-line with FOLFOX / XELOX or FOLFIRI +/- bevacizumab* At least SD Experimental Group: 60mg lefitolimod (MGN1703) twice weekly s.c. No maintenance Placebo Twice weekly s.c. Screening / Randomization 2:1 PD** PD** ** _Treatment after PD at investigators discretion 43

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Lefitolimod (MGN1703) – Mode of Action

ISR by Lefitolimod

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MGN1601 – ASET Study Design

• Primary endpoints met: safety and tolerability

• Open-label, proof-of-principle, multi-center phase I/II trial

• 19 patients with advanced renal cell carcinoma who failed prior systemic therapies

• Orphan drug designation from EMA

• Start: December 2010 – primary completion date: August 2013

DC Disease Control | EMA European Medicines Agency | i.d. intradermal injection | PD progressive disease | TPP Treatment per protocol

TPP Extension phase Patients with advanced renal cell cancer No standard therapy available Trial inclusion 8 applications of MGN1601 in 12 weeks i.d. DC Max. 5 applications in week 24, 36, 48, 72 and 120

Trial Treatment Period

DC PD** PD** ** _Treatment after PD at investigators discretion 8 applications of MGN1601 in 12 weeks i.d. 45

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MGN1601 – ASET Study Results

Trial inclusion DC DC PD** PD** • ITT group (19 pts) : all patients who received at least one vaccination

• PP group (10 pts.): patients received eight vaccinations within twelve weeks as planned

• Non-PP group (9 pts.): patients dropped out before finalizing the 12 weeks course of treatment Overall survival 0 20 40 60 80 100 120 0.0 0.2 0.4 0.6 0.8 1.0 PP non-PP ITT OS time [weeks] O S r a te 46

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MGN1601 – ASET Study Results

Trial inclusion DC DC PD** PD** • Median OS: 24.8 weeks (ITT group): 115.3 weeks (PP group)

• Potential biomarker identified

 MSKCC Score & NLR may have predictive value for longer OS

 First evidence of cytotoxic antitumor immune response after MGN1601 vaccination (in patient subgroup)

 Significant improvement of cellular immune function during treatment (in patient subgroup)

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COMPANY

PRESENTATION

JUNE 2016