PeptiDream : Corporate Overview（July 2024, English version)

(TSE : 4587)

Corporate Overview

July 2024

Copyright @2024 PeptiDream Inc. All Rights Reserved

Forward-Looking Statements

This presentation contains forward-looking statements. These forward-looking statements are current plans, forecasts, assumptions and

strategies based on currently available information. There are various inherent risks as well as uncertainties involved. The actual results of

business performance may differ from those forecasts due to various factors.

These factors include, but are not limited to: (1) risks of delays, interruptions or failures associated with drug discovery and development; (2) risks of unexpected program disruptions or terminations due to changes in client policies; (3) risks associated with manufacturing products and the procurement of raw materials; (4) the impact of reduced competitiveness due to the competitors and competing technologies; (5) declining product sales capabilities; (6) adverse rulings in infringements or significant litigation against our Group's intellectual property rights;

(7) adverse changes in economic conditions and related laws and regulations; and (8) fluctuations in interest rates and currency exchange rates.

The information in this material with respect to drugs (including those under development) is not intended to provide advertising or medical

advice.

This material is intended to provide information on our Group's business and is not intended to solicit investment in securities.

PeptiDream assumes no responsibility for any damages resulting from the use of this material or its content, including without limitation damages related to the use of erroneous information.

The PeptiDream Group

PeptiDream and PDRadiopharma

The Largest Biotech Company in Japan

• The PeptiDream Group is a drug discovery company (PeptiDream)
  with a vertically integrated radiopharmaceutical company (PDRadiopharma) focused on the discovery, development, and commercialization of peptide-based therapeutics, peptide-drug conjugates, and radiopharmaceuticals (radiotherapeutics/radiodiagnostics)
• Combined company has 750+ employees, spanning discovery, development, manufacturing, regulatory, and sales in Japan
• Growing revenue and profitability since 2011

The Global Leader in the Discovery of Peptide Therapeutics

• PeptiDream (established in 2006) is largely credited with establishing the macrocyclic peptide field - high global reputation across the pharma industry.
• Collaborations with the majority of the worlds pharmaceutical companies

Leading Targeted-radiopharmaceutical Position in Japan

• PDRadiopharma (established in 1968) is one of two radiopharmaceutical companies licensed to operate in Japan (currently sells 8 radiotherapeutic and 21 radiodiagnostic products in Japan)
• Ideally positioned to capture a large share of the radiopharmaceutical field in Japan, while contributing through partnerships globally

TSE Prime: 4587

PeptiDream Inc.

PDRadiopharma Inc.

PDRadiopharma facility (Chiba)

PeptiDream headquarters (Kawasaki)

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Peptide Therapeutics - Next Generation Modality

Evolution of Peptide Drug Discovery

1980~	2000~	2006		2010~	2020~
(Product Origin)	(Key R&D Progress)		PeptiDream Established
•		•				Oral IL-23 for I&I
Human Peptide Analogs	Rational Drug Design		✓ Unparalleled Peptide Library & Hit Finding Platform	Oral PCSK9 for CV
•	Naturally Derived from	•	Expansion of Target		✓ Diverse Discovery and Development Portfolio	Expansion to
	Other Organisms		Therapeutic Areas			through Both In-house and Partnerships Efforts		Multiple
			✓		Large Indications
		•	Innovations in		Broad Range of Pipeline Programs Spanning
		Established		MK-0616 for	JNJ-2113 for Psoriasis
			Macrocyclic Peptides		Variety of Peptide Modalities
				Hypercholesterolemia
						(Ph3 Initiated in 2023)

(Ph3 Initiated in Aug 2023)

Innovations in Oral Peptides

Next-GenGLP-1 Launches and

Expansion to Weight Management Field

Innovations in

Ozempic®

Mounjaro®

Wegovy®

(Selected Peptide Drugs)

Peptide-Drug Conjugates

Zepbound®

Rybelsus®

‒

Insulin & analogues (~1950s)

‒

Octreotide (1988)

(PDC)

‒

for Diabetes

for Acromegaly,

Expansion in

Cyclosporine (1983)

‒

Neuroendocrine Tumors, etc.

Oncology Field

‒

for Transplantation

Daptomycin (2003)

Leuprolide (1985)

for Infectious Diseases

Pulvicto®

for Cancer

Lutathera®

‒

Vancomycin (1986)

(GEP-NETs)

1)

(PSMA-positive

mCRPC)2)

Multiple Product Launches of

for Infectious Diseases

Targeted Radiotherapy

for Multiple Oncology Indications

Limited Discovery

Continuous Innovations and

Further Acceleration of

Unfolding of Peptide Drug Discovery

Peptide Drug Applications

4

Note: 1) GEP-NETs:Gastroenteropancreatic-neuroendocrine tumors, 2) mCRPC: metastatic Castration-resistant Prostate Cancer

Merck & Co., Inc., Rahway, NJ, USA

PeptiDream - The Epicenter of Peptide Drug Discovery

PeptiDream's Evolving Proprietary PDPS Drug Discovery Platform

Amino Acid (AA) Building Blocks

Randomized DNA Library

Trillions of Peptides in Each Library

Macrocyclic peptides

PeptiDream's 3,000+ AAs

Continuously Evolving Platform

Continuous expansion of AA building blocks that libraries be made with and optimized form (grew from 200 to >3,000)

Automation of the platform (high throughput)

Growing in-silico methods and computer simulation & modeling to predict optimal features

Protected by a broad patent portfolio

(e.g.)

10 positions with

20 building blocks

2010 = 10,240,000,000,000

different peptides in a library

Robust, cell-free synthesis derived by nature's way of making peptides

Each peptide "barcoded" via its

mRNA/cDNA tag

High Rate of Hit Finding Success

Discover high affinity and highly selective macrocyclic peptide binders to almost any target quickly and efficiently

Yields unique hit candidates unlike any other technology

Technology can be used to optimize and fine-tune the drug-like properties

(2006)

Few big pharma

engaged in peptide drug

discovery

(Today)

Every big pharma

engaged in peptide drug

discovery

PeptiDream has played a significant role in advancing Peptide Drug Discovery

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Our Key Areas of Focus

Radiopharmaceuticals (RI)

Targeted Radio Therapy

Cancer Targeting Peptide Ligand

+ Radioisotope (RI)

Diagnostic Radionuclides

Tumor	RI
Targeting
Therapeutic Radionuclides
Peptide

Combining the powerful tumor targeting ability of macrocyclic peptides with the cell killing ability of RI

Focused on Rapidly Growing a Deep Pipeline of Targeted

Therapeutics and Diagnostics

Non-Radiopharmaceuticals

Peptide Therapeutics

Broad range of disease and

therapeutic applications

Peptide Drug Conjugates (PDCs)

Tissue Targeting Peptide	Tumor Targeting Peptide	Target Binding Peptide

Oligonucleotides

Small Molecules

Others

Peptide Targeted delivery of various non-RI payloads

Growing the Next-Generation of Oral Peptide Therapeutics

and Non-RI Peptide Drug Conjugates

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Radiopharmaceuticals

Targeted Radiotherapies - Revolutionizing How We Treat Cancer

Concept of Targeted Radiotherapy

Radioactive Rays
Target-specific
ligand	≡
Chelator	RI
Linker Radioisotope		Cancer targeting peptide
(RI)		ligand + Radioisotope (RI)
Cancer cell

Delivery of RI

selectively to tumors

Radioisotope: Alpha (α) and Beta (β) Isotopes Advantages of Targeted Radiotherapy

Why Peptide As Ligand

Radioisotopes kill cancer cells via DNA strand breaks

α emitters		β emitters

Difficult to Address	Brain, Skin, Liver,
Kidney, Colon,
by ADC1)
	Pancreas, Uterine, etc.
Prior Diagnosis
Is Essential2)

High Affinity and Specificity for Target Receptor

Favorable Pharmacokinetics (PK) Profile

• Higher LET* (80-100 kEv/μm) (double strand breaks)
• Shorter range (20-80μm)

• Lower LET (0.2-0.5 kEv/μm) (single strand breaks)
• Longer range (2-11.5mm)

	Stromal cell, etc.
Concern of Treatment	Breast, Bladder,
Resistance3)	Ovarian, etc.
Difficult to
Address by
Immuno-Oncology4)	Lung, Prostate, etc.

Fast Renal Clearance

Lower Immunogenicity and Toxicity

Versatility and Ease of

Synthesis/ Modification

Source: 1) PeptiDream's in-house analysis. 2) F. Zhuravlev. Curr Radiopharm., 2021, 14, 374-393.B.M. Privé, et al., Eur J Nucl Med Mol Imag., 2023, 50, 1906-1918.3) J. Karlsson, et al., Front. Med., 2022, 1071086. M. Barok, et al., Breast Cancer Res., 2014, 16: 209. M.E. Autenrieth, et al., Eur J Nucl Med Mol Imaging.,	7
2018, 45, 1364-1371. C.A. Kunos, et al., Front. Oncol., 2019, 9: 00180. 4) N.A. Ridge, et al., Adv Radiat Oncol., 2022, 7, 100936; R.B. Patel, et al., Sci Transl Med., 2021, 13(602), eabb3631. 5) Clarivate, Evaluate, GlobalData, company websites.

Power of Combining Diagnostic and Therapeutic

Theranostics

(Thx)

Radioisotope for Diagnosis (Dx)

Dx

Targeting

Peptide

Chelator

Tx

Radioisotope for Treatment (Tx)

The same peptide-conjugate

can be utilized for both

diagnosis and treatment by

just changing the RI

				RI-Specific Quickest Path to Product Development
Pre-Clinical Development	Human ePoC	Clinical Development
	"Rapid Validation"		"De-risk"		"Accelerate"
Candidate Compounds		Inject to	Phase 0			Phase 1/2
Candidate A			Candidate B	Xenografted		Evaluate
				Dx	Distribution
Dx	Tx		Dx	Tx	Mouse
	in the Body and	Dx	Tx
Candidate C
						Accumulation
			Candidate D, E…		Administer Small
Dx	Tx		in Cancer Cells			Cancer Patients
						Dose of Dx-RI and	2)
Evaluate Clear Detection of Tumor,	Generate Human		Before	After	Before	After
Imaging Data		Therapy	3 Cycles	Therapy	3 Cycles
Rapid Renal/Blood Clearance, Specific Distribution
				3)	3)
	in Tumor, and Anti-tumor Effects
1 hr Post-dosing	4 hr Post-dosing	24 hr Post-dosing	48 hr Post-dosing	1)
						Cancer Patients
					PET-CT Imaging	Simpler mechanism of Tx-RI,
Rapidly establish tumor targeting and
confirmation of Dx-RI's delivery to the	More efficiently design Ph1/Ph2 studies
in vivo efficacy of best peptide candidate
cancer lesion increases the certainty	by leveraging Ph0 results
		in animal tumor models
			of drug efficacy and safety
				Unique Theranostic approach of targeted-radiopharmaceuticals,
	allows for the quickest path to human ePoC, accelerating overall product development

Source: 1) in-house data. 2) K. Herrmann, et al., Lancet Oncol., 2020, 21, e146-e156. 3) C. Kratochwil, et al., Journal of Nuclear Medicine, Aug 2016, 57 (8), 1170-1176	8
Note: ePOC: early Proof-of-Concept

Rapidly Growing Targeted Radiotherapy Field

Market Size 1)	(2030E)
(2022)	$29.4bn
$8.4bn
(CAGR: 19.5%)

Compelling Therapeutic Approach

Simple, Powerful MoA

PeptiDream - The Center of Innovation in RI Targeted Therapy

Accelerating entry of biopharma into RI therapies field, through a sequence of acquisitions

PeptiDream has been chosen as key collaboration partner by a multitude of leading players in this field and continues to build extensive partnered and internal pipeline programs

• Limited treatment resistance
• Overcoming tumor heterogeneity

True Precision Medicine

• "See it & Treat it" by Theranostics
• Efficient & accurate screening of patients

Clinical & Commercial Success Driving Further Excitement, Investment and Market Entry

Lutathera® Approval (2018): Neuroendocrine Tumors

(First key Targeted RI therapy that established the market)

Pluvicto® Approval (2022): Prostate Cancer

(Annualized $1bn+ Sales in 20242); aims multibillion blockbuster in mid-to-long term)

Acquired in Dec. 2023

(ca. $4.1bn)

Collaboration with

PeptiDream

in Sep. 2023

Acquired in Mar. 2024

(ca. $2.4bn)

Lutathera® & Pluvicto®

Acquired AAA and

Endocyte in 2018

Mariana Oncology

in May 2024

(Total of ca. $7.75bn)3)

Acquired Noria and

PSMA Therapeutics

in 2021

Acquired

in Oct. 2023

(ca. $1.4bn)

Note: 1) Market size estimates based Fortune Business Insights (Nuclear Medicine Market Size, Share & COVID-19 Impact Analysis 2023-2030), 2) 2024 Q1 Sales of $310mm (+47% in Q1), annualized sales estimate of $1bn plus sales range, 3) Including potential milestone	9
payments

Radiopharmaceuticals - PeptiDream Group

Uniquely Positioned with Multiple Paths to Drive Value Creation

RI Market Landscape

Japan

Only 2 Licensed RI Companies

High Barrier to Market Entry

• Strict Regulations/ Compliance
• Supply Chain Requirement, etc.

Partnering with a Local Company is

Essential for Global Pharma to

Commercialize Their RI Products

Global

Growing Demand of RI

Expanding Dx & Tx Applications

Challenges by Each Region

• Regulations/ Compliance
• Supply Chain Requirement

PeptiDreamPeptiDream+ +PDRPDRBusinessB i Modelodel

1 Discovery Commercialization

2

4

3

Overseas RI Players

Rapidly growing number of RI companies to potentially partner with PD+PDR

Execution Strategy

1 Develop In-house Programs

2

Develop Collaboration Programs

• Leverage partners clinical data to bridge into Japan Market (Data Bridging)

3

In-licensing/Service Agreements

• PD/PDR provides overseas companies with access to Japan RI markets

4

Out-licensingex-Japan Rights

• Out-licensingPD in-house programs
• PD provides collaboration partners with ex- Japan Global rights
• • PDR develops for Japan market

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