CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech

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CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
CORPORATE PRESENTATION
              FEBRUARY 2020
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Forward Looking Statements

The statements made in this presentation may include forward-looking statements regarding the
future operations of ERYTECH Pharma S.A., including estimates of target market opportunity,
timing of planned clinical trials and results from those trials, regulatory strategy and timing of
planned regulatory submissions, manufacturing capabilities and strategy for expansion of the
ERYCAPS platform. Although we believe that the expectations contained in this presentation are
reasonable, these forward-looking statements are only estimates based upon the information
available to ERYTECH Pharma S.A. as of the date of this presentation. Except as required by law,
we expressly disclaim any responsibility to publicly update or revise our forward-looking
statements, whether as a result of new information, future events or otherwise. Thus, the forward-
looking statements herein involve known and unknown risks and uncertainties and other important
factors such that actual future operations, opportunities or financial performance may differ
materially from these forward-looking statements. Undue reliance should not be placed on forward-
looking statements, which speak only as of the date hereof. All forward-looking statements
contained herein are qualified in their entirety by the foregoing cautionary statement.
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Leader in Red Blood Cell-based Cancer Therapeutics

               Reproducible encapsulation of therapeutic compounds in red
               blood cells                                                            Phase 2b in 2L Pancreatic Cancer
                                                                                         OVERALL SURVIVAL (ITT)
               Focus on oncology, targeting cancer cells’ altered amino acid
               metabolism through encapsulated asparaginase
               Lead product candidate eryaspase, first asparaginase to show                                                 40%
               efficacy in solid tumors; strongest survival benefit observed in any                                   reduction in
               2L pancreatic cancer study to date                                                                    risk of death
                                                                                                                             (HR, 0.60;
               Phase 3 trial in 2L pancreatic cancer ongoing in EU and US; on
                                                                                                                              P=0.008)
               track for readout 1H21; interim (for superiority) expected 3Q20;
               Phase 2 in 1L TNBC and Phase 2 IST in 2L ALL ongoing
               Industrialized production: own cGMP production facilities in the
               United States and Europe                                                          Months

               Listed on Nasdaq and Euronext; cash runway into 2021; key                        Hammel et al., European Journal of Cancer, 2019

               shareholders including BVF and RA Capital
ALL: Acute Lymphoblastic Leukemia; TNBC: Triple-Negative Breast Cancer   3
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Late Stage Clinical Pipeline and Preclinical Programs

                         Product Candidate                                                                                                Phase 3/    Next Anticipated
   Mode of action                                     Indication         Discovery      Pre-clinical       Phase 1          Phase 2
                            or Program                                                                                                     Pivotal      Milestone

                                                 Pancreatic Cancer                                                                                   Interim: Q320
                                                                                                                                      TRYbeCA-1
                                                        2L                                                                                           Final: 1H21

                                                   Triple Negative
                                                                                                                     TRYbeCA-2                       Final: 2021
                                             ®    Breast Cancer 1L
                  eryaspase/GRASPA
Cancer metabolism    (asparaginase)
                                                 Acute Lymphoblastic                                                                                 Interim: 1H20
                                                                                                                     NOPHO IST
 Tumor starvation                                   Leukemia 2L                                                                                      Final: 2H20

                                                  Pancreatic cancer
                                                                                                       IST                                           Launch: 2H20
                                                         1L

                          erymethionase
                                                    Solid tumors
                        (methionine-γ-lyase)

      Immune              Immune-oncology
                                                        TBD*
     modulation          Tolerance induction

      Enzyme                 Therapeutic
                                                 Metabolic diseases
    replacement               enzymes
1L First Line; 2L Second Line; IST Investigator Sponsored Trial; NOPHO : Nordic Organization of Pediatric Hematology and Oncology

* To be determined by SQZ Biotech
                                                                                        4
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Red Blood Cells, Ideal Carriers for Amino Acid Lowering Agents

Readily available at blood                      Permeable membrane
banks                                           Potential to load with drugs
Established sourcing                            Plasma metabolites can pass

Well known                                      Protective membrane
biocompatibility                                Reduced toxicity
Routine allogeneic use
                                                Prolonged activity

Most abundant cell in
                                                Long circulating life
human body
                                                Prolonged activity
Extensive biodistribution

                                5
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
ERYCAPS, an Innovative Technology Platform
    Reproducibly encapsulating drug substances inside allogeneic red blood
             cells using proprietary hypotonic loading technology

                 Drug substance
                                               Reproducible
                                               proprietary ‘osmotic fragility’ process enables
                                               reproducible loading
                                  Pores

                                               Fast
                                               industrialized process can deliver tailored therapy
                                               within 24 hours
     Controlled
  Hypotonic Loading                            Broad range
                                               peptides, RNA, proteins, antibodies, …

                           Hypertonic          Strong IP
                           Resealing           265 granted patents in 15 patent families

                                          6
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Industrialized and Scalable Process

                         1                  2                    3                   4                   5
                         1   Sourcing        2 Preparation              3
                                                                     Encapsulation   Batch4release            Shipping
                                                                                                                  5
  PRESCRIPTION

                    SOURCING            PREPARATION             ENCAPSULATION        BATCH RELEASE             SHIPPING

                 Sourcing of            Identification of key    ERYCAPS automated       QC Control                                  Patient
                                                                    Manufacturing                                 Shipping
                 compatible RBC         parameters                   (3-5 hours)         Release by QP

                                                                     Possible in 24h

                                                                                                                   Validated supply &
    Fully-owned GMP                 Established partnerships                 More than a decade
                                                                                                             manufacturing model – 2000+
 production capacity in EU         with blood banks in EU and            experience in manufacturing
                                                                                                             batches, 460+ patients treated,
       and the US                            the US                     and supply chain management
                                                                                                                       9 countries

                                                                           7
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Targeting Cancer Cells Amino Acid Metabolism, an Emerging Field

  Many cancers exhibit increased demand             Amino acids

  for specific amino acids, becoming
  dependent on exogenous supply or de
                                                    Depleting select amino
  novo synthesis of these amino acids1-3
                                                    acids in blood (e.g.
                                                    asparaginase)

                                                     Blocking uptake by
                                                     blocking transporters
                                                     (e.g., LAT 1-4)

                                                    Inhibiting biosynthetic or
                                                    catabolic enzymes (e.g.
                                                    arginase inhibitor)

1. Lukey et al., Drug Discovery Today, 2017
2. Pavlova & Thompson, Cell Metabolism, 2016
3. Luengo et al., Cell Chemical Biology, 2017   8
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Asparaginase, First Amino Acid Targeting Anticancer Drug1

  Mode of action
     MODE   OF                                Asparaginase breaks down circulating asparagine (and glutamine), and deprives
              ACTION                          tumor cells of amino acids essential for their growth

  Current use                                 •   Cornerstone treatment in Phi-neg pediatric acute lymphoblastic leukemia (ALL)
                                              •   Four forms of L-asparaginase products currently marketed in ALL; worldwide sales
                                                  est. $400M in 2018
           CURRENT
             USE                              •   E-coli derived:    Native asparaginase: e.g., Kidrolase (Kyowa Hakko)
                                                                     Recombinant asparaginase: Spectrila (medac)
                                                                     Pegylated asparaginase: Oncaspar (Servier)
                                              •   Erwinia derived:   Erwinaze (Jazz Pharmaceuticals)

  Limitations                                 •   Important side effects (e.g., allergies, coagulation disorders, pancreatic and hepatic
                                                  toxicities) limit therapeutic window to essentially pediatric ALL
                                              •   Beyond ALL, some use in AML and lymphoma; no known use in solid tumors

1. Lukey et al., Drug Discovery Today, 2017                                      9
CORPORATE PRESENTATION - FEBRUARY 2020 - Erytech
Eryaspase (GRASPA®), Enabling Broader Use of Asparaginase

            A novel circulating ‘bioreactor’ to degrade asparagine (and glutamine)

                                                           Y Y
 Active transporters in membrane
 of red cell pump circulating

                                                          Y
                                                                      Prolonged activity

                                                              Y
 asparagine and glutamine into

                                                               Y
 the red cell…                                                   Y    Reduced toxicity
                                                                  Y
          Asparaginase                                           Y    Potential to provide
          Asparagine and glutamine                                    asparaginase to patients
                                       …where the encapsulated        that are unable to
          Degradation products       L-asparaginase hydrolyzes the    tolerate non-
          Antibody
                                       asparagine and glutamine       encapsulated products
      Y

                                                   10
Positive Results in ALL Confirmed Proof of Concept

•      ERYTECH started development in fragile ALL patients, confirming the concept of prolonged activity and
       reduced toxicity in different clinical trials, including a Phase 2/3 trial in Relapsed/Refractory ALL:

        Key results of Phase 2/3 trial in R/R ALL                                          Eryaspase (N=26)      L-ASP (N=28)

        % of patients with ≥ 1 hypersensitivity reaction during induction**                      0%                   46%

        Mean duration of asparaginase activity above 100 U/L during induction (days)**          18.9                   8.5

        Complete Remission rate (CR)*                                                           65%                   36%

•       Overall Survival (OS)                                                                          HR = 0.72

     ** Statistically significant (p
Pancreatic Cancer, Large Unmet Medical Need

 •      Pancreatic cancer is one of the leading
        causes of cancer death in the world, with an                                                                                                                                        Lung and bronchus
                                                                                                                                                     160
        increasing incidence1,2

                                                                                                        Projected cancer deaths in the US (1000’s)
 •      In 2018, approximately 185,000 people were                                                                                                   140

        newly diagnosed with pancreatic cancer in                                                                                                     80
        Europe and the United States1                                                                                                                                                               Pancreas
                                                                                                                                                     60           Colon and rectum
 •      Overall prognosis for pancreatic cancer is                                                                                                                                                      Liver

        poor, with a 5-year survival rate of
Altered Metabolic Pathways in PAC, a Role for Asparaginase?

 •    Pancreatic cancer (PAC) is characterized by extensive reprogramming of cellular metabolism leading to
      increased asparagine and glutamine requirements. Deprivation of glutamine and asparagine results in loss of
      cancer cell viability1

 •    In vitro studies demonstrated promising anti-cancer effects for asparaginase against human pancreatic tumor
      cell lines2-3

 •    Attempts at evaluating asparaginase in solid tumor indications in the clinic have been unsuccessful due to
      toxicity4-7

 •    In a Phase 1 trial in metastatic pancreatic cancer, eryaspase demonstrated an acceptable safety profile8-9

 •    The tolerability of eryaspase and the potential role of metabolic dysregulation in this disease provided
      rationale for further clinical evaluation

1. Kawanda Int J Clin Oncol 2017; 2. Cui, Cancer Res 2007; 3. Dufour, Pancreas 2012;
4. Lessner Cancer Treat Rep 1980; 5. Hays Molec Clin Oncol 2013; 6. Agrawal Cancer 2003;
7. Borad Cancer Investigation 2015; 8. Bachet Pancreas 2015; 9. ClinicalTrials.gov: NCT01523808   13
Phase 2b Trial in 2L Pancreatic Cancer Launched in 2014

               Patients (N=141)                                                                                                                     Co-primary endpoints
                                                                                               Eryaspase + 03

                                                                      Randomize 2 to 1
     •      ≥18 years                                                                         chemotherapy                              PFS and OS in ASNS 0/1
     •      Stage III or IV                                                                  (gemcitabine or                            subpopulation
     •      One prior systemic                                                                 mFOLFOX) option
                                                                                                                                                Key secondary endpoints
            chemotherapy in
            advanced setting                                                                                                            •      PFS and OS (all comers)
                                                                                          Chemotherapy alone                            •      Objective response rate
     •      Measurable disease                                                              (gemcitabine or
                                                                                                                                        •      Disease control rate
     •      ECOG PS 0 or 1                                                                    mFOLFOX)
                                                                                                                                        •      Safety and tolerability
                                                                                         Stratified by chemotherapy                     •      Quality of life

                                         Trial in collaboration with the GERCOR in 16 clinical sites in France

Reference: ClinicalTrials.gov: NCT02195180
ECOG: Eastern Cooperative Oncology Group, PS: performance status, FOLFOX: 5FU, leucovorin and oxaliplatin; GERCOR: Multidisciplinary Group in Oncology
ASNS 0/1 subpopulation: patients with no/low asparagine synthetase expressing tumors
                                                                                                        14
Clear Overall Survival (OS) Benefit1

                                                                                                                                   Eryaspase Phase 2b Trial
                  40%                                                                                                                       I T T P O P U L AT I O N

                  reduction in risk of                                           100
                                                                                                                                                  Eryaspase +
                  death                                                          90                                                              chemotherapy            Chemotherapy
                                                                                 80                                                                  (n=95)                 (n=46)
                  (HR 0.60; P=0.008)

                                                      Survival probability (%)
                                                                                 70                                      Events,
                                                                                                                         Events nn(%)
                                                                                                                                   (%)             82 (86.3)
                                                                                                                                                      79 (83%)             42 (91.3)
                                                                                                                                                                              40 (87%)
                                                                                  60                                     Median   OS, CI)
                                                                                                                         OS HR (95%                        0.60 (0.40, 0.88)
                                                                                                                         P-value
                                                                                                                         months                       6.0        0.008 4.4
  For reference: Onyvide Phase 3: HR 0.67                                         50
                                                                                                                         (95% CI)                  (4.8–6.6)         (3.0–5.0)
                                                                                  40                                     Median OS (mo)                  6.0               4.4
                                                                                                                         P
                                                                                                                         OSvalue
                                                                                                                             rate at 1yr               15.8%           0.008
                                                                                                                                                                          6.5%
                                                                                  30
                                                                                                                          OS rate at 18m                   8.4%                      0%
                                                                                  20
                                                                                  10
                                                                                   0
                                                                                       0    2         4   6    8    10   12 14     16 18     20 22     24 26        28    30    32     34    36
                                                      No. at risk
                                                                                                                                       Months
                                                      E +CT                            95   83    67      45   29   24   15   11   8    8    4     4   4      1      1    1      1      0
                                                       CT                              46   35    22      15   8    6    3    0

                                                                                                                                        I T T P O P U L AT I O N
                                                                                                                                                           HR, Hazard Ratio; OS, Overall Survival

1. Hammel et al., European Journal of Cancer, 2019;                                              15
Overall Survival Benefit Consistent Across Subgroups1
   Eryaspase Phase 2b Trial                             All patients (E+CT n=95, CT n=46)       0.60 (0.40, 0.87)
            ITT POPULATION
                           ASNS category                 ASNS 0/1+ (E+CT n=66, CT n=32)         0.63 (0.39, 1.01)
                                                        ASNS 2+/3+ (E+CT n=29, CT n=14)         0.52 (0.26, 1.03)

                           Gender                             Male (E+CT n=53, CT n=30)         0.47 (0.29, 0.77)
                                                            Female (E+CT n=42, CT n=16)         0.95 (0.51, 1.79)

                           Time from randomization
Similar Progression-Free Survival Benefit1

                   44%                                                                                                                 Eryaspase Phase 2b Trial
                                                                                                                                               ITT POPULATION
                   reduction in the

                                                      Progression-free survival probability (%)
                                                                                                  100                                                   I T +T P O P U L A T I O N
                                                                                                                                                Eryaspase
                   risk of                                                                                                                     chemotherapy       Chemotherapy
                                                                                                  90
                   progression                                                                                                                     (n=95)             (n=46)
                                                                                                  80
                   (HR, 0.56; P=0.005)                                                                                      Events n (%)
                                                                                                                             Events, n              70
                                                                                                                                                     70(74%)               36 (78%)
                                                                                                                                                                               36
                                                                                                  70                         (%)HR (95% CI)        (73.7)0.56 (0.37, 0.84)
                                                                                                                                                                       (78.3)
                                                                                                                            OS
                                                                                                   60                       P-value
                                                                                                                             Median PFS,                           0.005
                                                                                                   50                        monthsPFS
                                                                                                                            Median                  2.08.6                   1.6
                                                                                                                                                                             6.9
                                                                                                   40
                                                                                                                             (95% CI)
                                                                                                                            (weeks)              (1.8–3.4)                 (1.4–1.8)

                                                                                                   30
                                                                                                                            P value                                         0.006

                                                                                                   20
                                                                                                   10
                                                                                                    0
                                                                                                        0    2         4      6            8       10        12              14        16
                                                                                                                                      Months
                                                      No. at risk

                                                      E +CT                                             95   36        18     12         6         4           3              0
                                                       CT                                               46   9         6      1            1       1           0

1. Hammel et al., European Journal of Cancer, 2019;                                                               17
                                                                                                                  17                                                                        17
Improved Response Rates and Fewer New Lesions1

                 new lesions
                                                                                                  Eryaspase Phase 2b Trial
                                                                                                           ITT POPULATION
                                                                 PD                         50
                                                                                            45      47,4                       Eryaspase +
                                                                                                                               chemotherapy
                                                                                            40
                                                                                                                               Chemotherapy
                                                                 SD
                                                                                            35
                                                                                            30

                                                                              Patients, %
                                                      ** ** CR   OR
                                                                                            25
                                                                                                             23,9
                                                                                            20
                                                                                                    SD
                      new lesions                                                           15
                                                                 PD                                          SD
                                                                                            10                             11,6
                                                                                            5       OR                               6,5
                                                                                                             OR
                                                                                            0
                                                                 SD                              Disease control rate   Overall response rate

                                                                           PD = Progressive disease
                                                                 OR        SD = Stable disease
                                                                           PR = Partial response
                                                                           CR= Complete response
                                                                           OR = Overall response (PR +CR)
1. Hammel et al., European Journal of Cancer, 2019;                   18   DCR = Disease control rate (OR+SD)                                   18
No Additional Toxicity Over Chemotherapy Alone

                                                 All grade adverse events (%)
                                   0   10   20       30      40       50           60           70
                                                                                                       Eryaspase
                                                                                                          80
                                                                                                                 Phase 2b Trial
                                                                                                                       ITT POPULATION
                      Asthenia
                     Nausea
                     Anemia
                    Vomiting
            Thrombocytopenia
              Abdominal pain
                    Diarrhea
           Decreased appetite
                      Pyrexia
                  Constipation
                  Neutropenia
                                                                             TREATMENT EMERGENT EVENTS
                GGT increased                                               REGARDLESS OF RELATIONSHIP TO
   Physical health deterioration                                                    STUDY DRUG
         Antibody test positive                                                       86%
             Weight decreased
             Peripheral edema                                               77%
         Upper abdominal pain
                    Stomatitis
                ALT increased
                 Hypokalemia
         Neuropathy peripheral                                                                                 50%
                      Fatigue                                                                    45%
                    Back pain
                        Cough
         Mucosal inflammation
                      Alopecia
                 Hyperthermia
                 Lymphopenia
                                                                                                                          Chemotherapy
                Hyperglycemia
                 AST increase
                      Anxiety
                                                                                                                          Eryaspase +
             Hypoalbuminemia
                                                                           Patients
                                                                               > Gradewith
                                                                                       3/4 ≥1        Patients
                                                                                                         >=1 SAEwith
                                                                                                                          chemotherapy
                    Insomnia
                                                                           Grade 3 or 4 AE             ≥1 SAE

                                                                      19
Trybeca-1, Phase 3 trial in 2L Pancreatic Cancer Launched in 2018

                                                                                        Pascal Hammel                               Manuel Hidalgo
                                                                                  Co-PI, Hôpital Beaujon, Paris, France   Co-PI, Weil Cornell Medicine, New York, U.S.

            Patients (N ≈ 500)                                                                     Chemotherapy                                               Primary endpoint
                                                                                              (gemcitabine+nabpaclitaxel
                                                                                                                 03

                                                                  Randomize 1:1
     •      ≥18 years                                                                                                                                • Overall Survival
                                                                                                     or FOLFIRI)
     •      Stage III or IV PAC                                                                   plus eryaspase
                                                                                                                                                         Key secondary endpoints
     •      One prior systemic                                                                                             option

            chemotherapy in                                                                     Chemotherapy alone                                   •    Progression-free survival
            advanced setting                                                                  (gemcitabine+nabpaclitaxel                             •    Objective response rate
     •      Measurable disease                                                                       or FOLFIRI)                                     •    Disease control rate
     •      ECOG PS 0 or 1                                                                                                                           •    Safety and tolerability
                                                                Stratification by ECOG PS, chemotherapy regimen
                                                                                                                                                     •    Quality of life
                                                                  and time since diagnosis of advanced disease
                    Trial expected to run in approximately 100 clinical sites in 11 European countries and the U.S.

Reference: ClinicalTrials.gov: NCT03665441
ECOG, Eastern Cooperative Oncology Group; PS, performance status
FOLFIRI, 5FU/leucovorin/irinotecan; the irinotecan can be Onivyde (nanoliposomal irinotecan or NALIRI)         20
Trybeca-1 on Track for Complete Enrollment in 3Q20

• More than 50% of projected patients enrolled (since Dec 2019)
• Trial enrolling patients since September 2018 in Europe
    • Clinical trial authorizations in 11 European countries
    • 50+ clinical sites activated
• Trial opened for enrollment in the United States in October 2019
    • First sites activated; approximately 20 U.S. sites targeted
• Safety data of first 150 patients reviewed by independent data monitoring committee in October 2019:
    • No safety issues identified
    • Recommendation to continue trial as planned
• Trial on track for full enrollment in Q3 2020
• Interim analysis (for superiority) expected in Q3 2020
    • Based on comparison of OS when 2/3 of events will have occurred
    • Two outcomes possible: continue as planned or stop for superiority (no futility analysis planned)

                                                         21
Broadening Scope to Other Solid Tumor Indications

Phase 2 proof of concept trial ongoing in Triple-Negative Breast Cancer (TNBC)
• Randomized Phase 2 proof-of-concept trial in Europe
• Approximately 64 patients with newly diagnosed metastatic disease
• Chemotherapy (gemcitabine/carboplatin) +/- eryaspase
• Primary endpoint: objective response rate
• Clinical trial authorizations obtained in all four participating countries            PI: Ahmed Awada
                                                                                     Head of the Medical Oncology
• Close to 20 sites activated; patient enrollment ongoing                            Clinic at Jules Bordet Cancer
                                                                                      Institute Brussels, Belgium
• Results expected in 2021

Broadening of indication scope to first line (1L) pancreatic cancer in preparation
• Investigator sponsored Phase 1 trial (IST) of eryaspase in combination with FOLFIRINOX in the United States

                                                            22
Industrialized and Scalable Manufacturing

Own cGMP production in Europe and US, scaled
for clinical and early-commercial manufacturing

• Europe: Lyon (France)
  • 12 cleanrooms
  • Producing GMP batches for clinical trials

• United States: Princeton, NJ
  • 16 cleanrooms, 4 equipped
  • Ready to manufacture cGMP batches for clinical
    trials

                                                     23
Preclinical Programs
                                                                                                                    Gastric adenocarcinoma
                                                                                                             Tumor regression in gastric cancer model

Erymethionase, methionine-gamma-lyase encapsulated in RBC                                             1800                                               ****

                                                                     Mean tumor volume (mm 3 + SEM)
                                                                                                      1600              Erymethionase + PN

• Promising preclinical data in gastric cancer and glioblastoma                                       1400
                                                                                                      1200

  suggest potential as a new treatment approach against cancers                                       1000
                                                                                                      800                               **
                                                                                                                                             ***

  that rely on methionine metabolism                                                                  600
                                                                                                      400

• Further preclinical data show potential synergistic effect of
                                                                                                      200
                                                                                                        0

  methionine restriction with immune checkpoint inhibitors and
                                                                                                             0   10   20    30     40          50   60          70   80
                                                                                                                       Days post-tum or im plantation

  asparaginase                                                                                                                   Vehicle

                                                                                                                                 Erymethionase 80 U/kg

ERYZYME, encapsulating enzymes used in certain enzyme
therapies to treat rare metabolic diseases
• E.g. Arginase-1-deficiency: preclinical data showing sustained
  lowering of arginine levels with arginine deiminase encapsulated
  in RBC in arginase deficient mice

                                                        24
Strategic Collaboration with SQZ Biotechnologies

             • ERYTECH granted SQZ Biotechnologies, a Cambridge (MA) based cell therapy
               company, an exclusive worldwide license to develop antigen-specific immune
               modulating therapies employing red blood cell-based technology.

             • SQZ to develop RBC-derived therapeutics to induce antigen-specific immune
               modulation by combining SQZ’s Cell Squeeze® cell engineering platform with
               ERYTECH’s IP and knowhow related to RBC-based therapeutics

             • ERYTECH is eligible to receive:
                 • Upfront and potential milestone payments up to $57 million for the first product
                   successfully developed by SQZ under agreement
                 • Royalties on sales, and potential commercial milestone payments up to $50
                   million for each additional approved product or approved indication

                                             25
Q3 2019 Financial Results

• Net loss of €43.3 million at                                               09-2019        09-2018
                                     (Cumulative figures in '000€)                                        Var° in K€   Var° in %
  end of Q3 2019 (9 months),                                               (9 months)     (9 months)

  up €13.6 million yoy               Revenues
                                     Other income                                3 881           2 666         1 216         46%
                                     Total operating income                      3 881           2 666         1 216         46%

                                     Total Research and development            (36 977)       (25 726)      (11 251)         44%
• Cash position of €81.9             General and administrative                (13 743)       (10 566)       (3 177)         30%
                                     Total operating expenses                  (50 720)       (36 292)      (14 427)         40%
  ($89.2) million as of              Total operating loss                      (46 839)       (33 627)      (13 212)         39%
  September 30, 2019                 Financial income                             3 975          3 994          (19)
                                     Financial expenses                           (392)            (15)        (377)
                                     Financial income (loss)                      3 582          3 979         (396)         -10%
                                     Income tax                                       1             (1)            2        -150%
                                     Net loss                                  (43 256)       (29 649)      (13 606)          46%

•   Cash variation of €52.4 million in the first nine months of 2019

•   Cash runway confirmed into 2021

                                                                      26
Key Milestones Anticipated over Next 12 Months

ü Start of GMP production at Princeton facility

ü Safety review by IDMC of first 150 patients in TRYbeCA-1

q Interim results of Phase 2 IST in 2L acute lymphoblastic leukemia (ALL)

q Interim (superiority) analysis in TRYbeCA-1

q Initiation of Phase 1 IST with eryaspase in 1L pancreatic cancer

                                                       27
Shareholder Base

                                                                                Retail
                                                                               20-25%
                                                Institutional EU/RoW
                                                        30-35%

                                                                               Institutional US
                                                                                   40-45%

Source: Euroclear Identifiable Bearer Securities (‘TPI’), June 28, 2019
                                                                          28
Leadership Team

 Jérôme Bailly                                      Gil Beyen                        Jean-Sébastien (JS) Cleiftie
 VP Pharmaceuticals Operations & Qualified Person   Chief Executive Officer          Chief Business Officer
Board of Directors

Jean-Paul Kress   Sven Andréasson              Philippe Archinard     Gil Beyen
Chairman          Independent Director         Independent Director   Chief Executive Officer & Director

                   Luc Dochez                  Martine George         Hilde Windels
                   Independent Director        Independent Director   Independent Director

                                          30
ERYTECH Pharma SA                         ERYTECH Pharma Inc
60 Avenue Rockefeller                        1 Main Street
    69008 Lyon                            Cambridge, MA 02142
       France                                     USA

                        www.erytech.com
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