Tharimmune : Corporate Presentations

Unlocking Immunology for a Better Tomorrow

Corporate Presentation

June 2024

Forward Looking Statements

This presentation contains certain statements which are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, contained in this press release, including statements regarding Tharimmune's strategy, future operations, future financial position, projected costs, prospects, plans and objectives of management, are forward- looking statements. The words "anticipate," "believe," "continue," "could," "depends," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "target," "should," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Factors that may cause such differences, include, but are not limited to, those discussed under Risk Factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2023 and other periodic reports filed by the Company from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this release. Subsequent events and developments may cause the Company's views to change; however, the Company does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this release.

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Tharimmune (Nasdaq: THAR) Company Highlights

TH104: De-risked Clinical Program with approved active + novel delivery

Recently completed Phase 1 study. Positive safety readout and topline full readout completed 1H24

Anticipate initiation of Phase 2 in 2024 with potential Registrational Trial ready in 2025

Currently Funded into 2025

Company completed transaction for $11M public offering in 4Q23

Estimated Large Annual Market Opportunity for Pruritis Expansion

Initial indication: moderate-to-severe chronic pruritus in primary biliary cholangitis

Indication expansion to Pruritogenic Diseases, including atopic dermatitis (>$15 Billion market)

Expanded Pipeline and Platform Technologies

Bispecific ADC to target novel conformational epitopes on high value validated targets: HER2/HER3

Knob Domains- smallest known antibody fragments targeting undruggable epitopes

IP Protection of Assets

Multiple US Patents with wholly-owned Global commercial rights to pipeline

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Pipeline and Anticipated Milestones

Stage	Candidate	Modality & Indication	Preclinical	Phase 1	Phase 2	Anticipated
Milestones

		Transmucosal Film :		2024:
		avoids first pass liver effect		2Q: Ph1 Readout
		Moderate-to-Severe	Phase 2 Ready*	Ph2 Initiation
	TH104
Clinical	Chronic Pruritis in Primary		2025:
Stage	MOR/KOR	Biliary Cholangitis		Ph2 Topline
(+ ↓IL-17)
				Readout
		Undisclosed	Phase 1 Ready*	Potential
		Registration Trial
		Indication
				Initiation
	PD-1/HER2/HER3			2024:
Early	Bispecific Antibodies/ADCs		Pre-clinical Studies
Stage	Multi-specific Knob	for multiple solid tumors		2025:
	Domain Platform			IND enabling studies

*Pending discussions with FDA

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Lead Asset:

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Chronic Pruritis Highly Prevalent in Liver Disease Patients

Primary Biliary

Cholangitis

Affects 1 in 1,000

women over 40

< 200k US patients1

(similar in EU4+UK)

>70%

of PBC patients affected by pruritus at some point during their disease course2

Prevalence of pruritus in liver diseases2,3,4

PBC

Overlap Syndrome

Chronic HCV

75 % 60 % 45 %

MASLD

PSC

Total

45 % 70 % 40 %

1. Lu, M et. al. Clin Gastro Hepatol 2018 Aug;16(8):1333-1341.e6. doi: 10.1016/j.cgh.2017.10.018)

1. Gungabissoon U, et al. BMJ Open Gastro 2022;9:e000857. doi:10.1136/bmjgast-2021-000857
2. Oeda, S, et al. Prevalence of pruritus in patients with chronic liver disease: A multicenter study, Hepatology Research, 48: E252-E262, (2018)
3. Nietsche Cholestatic pruritus: a knowledge update, Anais Brasileiros de Dermatologia,Volume 97, Issue 3, 2022.

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Nalmefene: Established Proof-of-Concept with Limitations

Nalmefene is currently only approved in US as intravenous and intranasal routes for acute use: opioid overdose*

Not ideal for chronic use

Oral route (approved in Europe) explored with high doses potentially due to first pass liver metabolism1;

Efficacy established in PBC patients with pruritis, but avoidance of liver metabolism could be beneficial in liver impaired patients.

Nalmefene Suppresses Pruritus in PBC Patients1

Oral dose ranging from 40 to 240 mg BID x 12 weeks

Nalmefene therapy was associated with a 75% reduction in hourly

scratching activity (P< .01)

1. Bergasa N et. al. Oral nalmefene therapy reduces scratching activity due to the pruritis of cholestasis: a controlled study J Am Acad Dermatol 1999;41:431-4 *Tablet formulation approved in Europe for Alcohol Use Disorder

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TH104: Proprietary Biodegradable Transmucosal Buccal Film

The Phase 1 study demonstrated TH104 oral film had comparable safety and tolerability to IV

Adheres to inner-cheek

Drug film is dime-sized

Active drug (nalmefene): transmucosal

TH104: Nalmefene transmucosal film

• Validated mechanism: MOR/KOR activation (+ IL-17 inhibition)
• De-riskedCMC using proprietary transmucosal film technology
• Two issued patents with multiple patents pending

TH104

developed by

embedding drug onto proprietary transmucosal film

TH104 designed

to bypass the

liver

(no first pass

effect)

• Once-DailyDosing
• Rapid Onset
• High Absorption
• Absorbed in oral mucosa & distributes to skin
• Designed to treat liver impaired conditions

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Initial Indication: Moderate-to-Severe Chronic Pruritis (itching) in PBC

In patient testimonials, PBC itch is described as "the worst, most unimaginable itch", like bugs crawling under the skin".

• PBC is an orphan disease in the USA and Europe, with <200k patients in the US.
• Affects men & women (rate higher in women: ~ 1 in 1,000 > 40 years old)2
• 65% of patients have "worse nocturnal pruritus" with 71% of patients stating a disturbance in their sleep3

More than 70% of Primary Biliary Cholangitis (PBC) patients affected by pruritus1

PBC is a chronic disease where bile ducts in the liver are eventually dysfunctional; the bile builds up and causes liver damage.4

1. Gungabissoon U, et al. BMJ Open Gastro 2022;9:e000857. doi:10.1136/bmjgast-2021-000857
2. https://www.healthywomen.org/condition/primary-biliary-cholangitis-pbc
3. Rishe et. al. Itch in Primary Biliary Cholangitis: A Patients' Perspective Acta Derm Venereol 2008; 88: 34-37
4. https://www.niddk.nih.gov/health-information/liver-disease/primary-biliary-cholangitis/definition-facts

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TH104 Mechanism of Action: Modulation of MOR/KOR

Pruritic Skin

Normal Skin

Induction of itch from overactivation of	THAR104 looks to balance MOR and
MOR and/or KOR deactivation	KOR activation to relieve pruritis

Kappa-opioid receptors (KORs) and mu-opioid receptors (MORs) have been implicated in both the suppression and promotion of itch, respectively, and pronounced in conditions such as liver and atopic diseases

Endogenous Opioids

Overexpressed in CLD2

β-endorphin/dynorphin A ratio

VAS pruritus score in patients with CLD

CLD - chronic liver disease

1. Kim, BS, et. al. Role of kappa-opioid and mu-opioid receptors in pruritus: peripheral and central itch circuits. Exp Dermatol. 2022; 31: 1900-1907. doi: 10.1111/exd.14669
2. Moniaga CS, et. al. Plasma dynorphin A concentration reflects the degree of pruritus in CLD Acta Derm Venereol. 2019 Apr 1;99(4):442-443. doi: 10.2340/00015555-3139.

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