CEVIRA FINAL RESULTS OF PHASE 2B CLINICAL TRIAL. April 11, 2013

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CEVIRA FINAL RESULTS OF PHASE 2B CLINICAL TRIAL April 11, 2013

Introduction Cevira (hexaminolevulinate) is a key late stage asset for treatment of pre-cancerous lesions and HPV Human Papilloma Virus (HPV) is a highly prevalent sexually transmitted disease impacting women of child-bearing age High unmet medical need for non-invasive, safe treatment options Cevira removes HPV and CIN selectively, preserving underlying normal tissue and the cervix remains competent (1) (2) 1) Selectively Fluorescing HPV-infected precancerous tissue Successful Phase 2b results of Cevira at 5% optimal dose demonstrated significant and sustained efficacy in CIN 2 patients after 6 months sustained clearance of HPV 16/18, the high risk subtypes, after 6 months 2 Results are significant and lay the foundation for the Phase 3 registration program, to be undertaken with a global development and commercialization partner Photo courtesy: of Dr. Hillemanns, Hannover

Breakthrough Platform Technology Designed for Ease of Use First fully integrated drug-delivery device in photodynamic technology Novel single use, disposable intra-vaginal device developed for ease of use Obviates clinical and commercial barriers Simple application in office setting Does not require additional equipment Auto-activation Patient free to resume normal daily activities Designed to treat the entire epithelial sheet Outstanding Physician and Patient Acceptance 3

Program 4 HPV Related Diseases of the Cervix The Need for Novel Therapies Ole Erik Iversen, MD, PhD Department of Obstetrics and Gynecology Haukeland University Hospital, Bergen, Norway Results of Phase 2b Clinical Trial Peter Hillemanns, MD, PhD Principal Investigator Department of Gynecology and Obstetrics University Hospital, Hannover, Germany Conclusion and Q&A Kjetil Hestdal, MD, PhD President & CEO

HPV Related Diseases of the Cervix The Need for Novel Therapies Ole Erik Iversen, MD, PhD Department of Obstetrics and Gynecology Haukeland University Hospital Bergen, Norway 5

Human Papilloma Virus Human Papilloma Virus (HPV) is a highly prevalent sexually transmitted disease Affects 80% women of all women during their lifetime 300 million woman infected worldwide 11.4% prevalence in the general population Highest incidence in ages 18-35 years Well established cause of Cervical Intraepithelial Neoplasia (CIN) and cervical cancer Highly oncogenic subtypes 16 and 18 causal factor in ~70% all cervical cancers ~50% all high grade lesions ~25% all low grade lesions 6 References: WHO, 2010

Progression of HPV to CIN and Cervical Cancer Although majority of HPV infections will spontaneously regress, ~10-20% progress to precancerous lesions (CIN) within 2 years CIN Close association between HPV induced cell changes and invasive cancer Disease within its own right, CIN 2+ requires treatment 30 million women globally with low grade lesions/cin 1 10 million women globally with high grade lesions/cin 2 Cervical cancer 2 nd most frequent cancer in females worldwide ~530,000 new cases diagnosed annually ~280,000 deaths 7 References: WHO, 2010; NEJM 2003;Clin Can Res 2002, Wright 2011

Current Screening Programs are Insufficient PAP testing (cytology), although considered gold standard for screening, misses 30-50% of cancers Sensitivity of a single PAP test ~50% Current consensus guidelines in US recommend primary HPV Cotesting only in patients 30 years of age Recent data supportive of HPV testing without cytology as sufficient screening tool Adherence to recommended screening and surveillance variable across geographies, even in developed countries 30-75% of patients adhere to protocol Colposcopy, used to diagnose lesion severity, has limited sensitivity ~70% 8 References: Saslow 2012, Dillner 2008

Shortcomings of Current Management HPV and Low Grade Lesions No standard treatment exists Complicated, tedious surveillance recommendations Low adherence to surveillance protocol Geographic relocations Insurance migrations High numbers lost to follow up Vaccines aimed at preventing HPV are significantly underutilized 44% of parents in US rejecting vaccine recommendations Only 1/3 of eligible girls in US are receiving vaccination 9 Offers no protection once virus is contracted

Shortcomings of Current Management High Grade Lesions CIN 2/3 treated with invasive surgery Most commonly LEEP Morbidities associated with the surgery are significant and particularly devastating in women of child bearing potential Bleeding, infections, cervical stenosis, infertility, preterm labor, low birth weight infants Mean age of conization approaches mean age of first pregnancy 5-30% recurrence Requires long term follow up Unsatisfactory colposcopy 10

Cervical Conization Influences the Outcome in Pregnancy Increased risk of preterm delivery High impact on health care costs Relative risk of late miscarriages 4.0 11

Summary HPV related disease of cervix affects majority of women and risk of development of cervical cancer if not managed appropriately 10 million women globally with high grade lesions 30 million women globally with low grade lesions Current screening and surveillance of low grade lesions (CIN1) complicated with high risk of women lost to follow up and possible disease progression Need for new treatments in women with associated high risk HPV related infections Need for new treatment options of high grade lesions (CIN 2) 12 Need for non-invasive, safe alternatives to ensure rapid clearance of HPV and lesions

A Randomized Phase 2b Study of HAL Photodynamic Therapy in Patients with Low/Moderate Grade Cervical Intraepithelial Neoplasia (CIN 1/2 ) Peter Hillemanns, MD, PhD Principal Investigator Department of Gynecology and Obstetrics University Hospital Hannover, Germany

Objectives of Cevira Phase 2b Study To verify feasibility, efficacy and safety of the new Cevira photodynamic treatment in a placebo controlled multicenter Phase 2b study in patients diagnosed with CIN 1/2 To define the optimal efficacy endpoint(s) and patient population(s) to enable design of further clinical program To determine the preferred dose of hexylaminolevulinate (HAL) 14

Cevira Fully Integrated Drug-Device Cevira ointment containing HAL applied into the device and placed on the cervix by the gynecologist Automatic photoactivation 5 hours after drug application Integrated light source delivers 100J/cm 2 of red (629nm) light photoactivation lasting 4.6 hours Patient removes device after completion of treatment 15

Phase 2b Clinical Trial End Points 3 months after last treatment Histology, Cytology, HPV 6 months after last treatment Cytology, HPV Primary efficacy/patient response Histology (central review) Cytology HPV DNA genotyping Secondary efficacy Cytology HPV DNA genotyping of 12 high-risk oncogenic subtypes Safety assessments Local tolerance Adverse events 16

Main Study Metrics Enrolled 262 patients (average age 27 years) with local histology confirmed CIN 1 or CIN 2 (safety population) 190 patients with CIN 1 (103) and CIN 2 (87) verified by central blinded review (efficacy population) 51% CIN 1 and 83% CIN 2 patients with positive HPV DNA status 50 CIN 1/2 patients with positive HPV 16/18 DNA status 262 patients with CIN 1/2 randomized to 4 groups Placebo N=68 HAL 0.2% N=62 HAL 1% N=67 HAL 5% N=65 1 or 2 treatments depending on results at 3 months 52% of the patients received 2 treatments Patients enrolled at 23 centers in EU and US 17

Study Demonstrated a Clear Dose Response 5% is Optimal Dose CIN 2 overall response 3 months after last treatment (n=87) % responders 100 90 80 70 60 50 40 30 20 10 0 HAL 5% HAL 1% HAL 0.2% Placebo p=0.01 p=ns p=ns P values versus placebo 18

Cevira Demonstrated Significant and Sustained Efficacy in CIN2 Patients after 6 months CIN2 overall response 3 months after last treatment (n=40) CIN2 overall response 6 months after last treatment (n=40) % responders 100 90 80 70 60 50 40 30 20 10 0 HAL5% p=0.01 Placebo % responders 100 90 80 70 60 50 40 30 20 10 0 HAL5% p=0.02 Placebo 19

Cevira Demonstrated Sustained Clearance of HPV including HPV 16/18 at 6 months HPV* clearance in CIN 2 patients 3-6 months after last treatment (n=31) HPV16/18 clearance in CIN 2 patients 6 months after last treatment (n=33) % patient with HPV 100 90 80 70 60 50 40 30 20 HAL5% Placebo % responders 90 80 70 60 50 40 30 20 10 10 0 0m 3m 6m 0 HAL 5% HAL 1% HAL 0.2% Placebo 20 *12 oncogenic HPV subtypes

Cevira Showed a Superior Clearance of HPV 16/18 in the Overall Population Several HPV subtypes can cause precancerous lesions which lead to cervical cancer HPV 16/18 clearance in CIN 1/2 patients 6 months after last treatment (n=50) HPV 16 and 18 have the highest risks, accounting for 70% of all cervical cancers 50% of all high grade lesions 25% of all low grade lesions Cevira showed superior clearance of high risk HPV 16/18 in the overall study population % responders 70 60 50 40 30 20 By clearing the virus rapidly, Cevira has the potential to significantly reduce the potential of progression to cervical cancer 10 0 HAL 5% HAL 1% HAL 0.2% Placebo 21

Cevira Tolerability and Acceptance No serious or systemic treatment related events were reported Treatment was well tolerated by the patients at all doses Only self-limiting local events (e.g. discharge, discomfort, bleeding) were reported in 38% of the patients Several pregnancies reported during study all normal full term deliveries High acceptance by patients and gynecologists 22

Summary of Results Cevira at the optimal dose demonstrated sustainable efficacy in CIN 2 patients Significant sustained overall response High and sustained clearance of high risk HPV 16/18 Cevira at the optimal dose showed a clear effect in overall response and HPV 16/18 clearance in the CIN 1/2 study population, though not statistically significant The study confirmed the strong patient and gynecologist acceptability and safe use of Cevira The study forms an excellent basis for selecting patient populations and endpoints for further clinical development 23

Conclusion Kjetil Hestdal, MD, PhD President & CEO

Conclusion High unmet medical need for novel therapies to treat epidemic proportions of HPV/CIN populations Breakthrough technology allows for convenience and simplicity which can be integrated in even under-developed healthcare systems Results of the Phase 2b trial are significant and lay the foundation for the Phase 3 registration program Significant overall response in CIN 2 High clearance of HPV, including highly oncogenic HPV 16/18 Excellent tolerability and high physician & patient acceptance Discussions underway to secure ideal global development and commercialization partner Photocure continues to deliver on the milestones as the evolution into a profitable specialty pharma company continues

Q & A Moderated by K Hestdal