Innovating Women's Reproductive Health and Pregnancy Therapeutics - September 2019
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DISCLAIMER Matters discussed in this presentation may constitute forward-looking statements. The forward-looking statements contained in this presentation reflect our views as of the date of this presentation about future events and are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause our actual results, performance, or achievements to differ significantly from those expressed or implied in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, performance, or achievements. Some of the key factors that could cause actual results to differ from our expectations include our plans to develop and potentially commercialize our product candidates; our planned clinical trials and preclinical studies for our product candidates; the timing of and our ability to obtain and maintain regulatory approvals for our product candidates; the extent of clinical trials potentially required for our product candidates; the clinical utility and market acceptance of our product candidates; our commercialization, marketing and manufacturing capabilities and strategy; our intellectual property position; and our ability to identify and in-license additional product candidates. For further information regarding these risks, uncertainties and other factors that could cause our actual results to differ from our expectations, you should read our Annual Report on Form 20-F for the year ended December 31, 2018, as filed with the Securities and Exchange Commission on March 5, 2019 and our other filings we make with the Securities and Exchange Commission from time to time. We expressly disclaim any obligation to update or revise the information herein, including the forward-looking statements, except as required by law. Please also note that this presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities. This presentation concerns products that are under clinical investigation and which have not yet been approved for marketing by the U.S. Food and Drug Administration. It is currently limited by federal law to investigational use, and no representation is made as to its safety or effectiveness for the purposes for which it is being investigated. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of such products. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we operate are necessarily subject to a high degree of uncertainty and risk. ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 2
O B S E VA I S A C L I N I C A L S TA G E B I O P H A R M A C O M PA N Y D E D I C AT E D TO W O M E N ’ S H E A LT H Strategic Focus We are passionately focused to innovate for (Women ages 15 - 49) addressing serious, quality-of-life impacting conditions and reproductive challenges Infertility – ART faced by women around the world. Our lead candidate Nolasiban has the Uterine Fibroids potential to be the first-in-class to increase rate of live birth following Embryo Transfer (IVF) Endometriosis Our second product candidate Linzagolix has the potential to be best-in-class in treating endometriosis and uterine fibroids Preterm Labor Other Women’s Tickers: OBSV (NASDAQ) - OBSN (SIX) Health Needs Headquarters: Geneva, Switzerland U.S. office: Boston, MA Employees: 53 ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 3
O B S E VA – A U N I Q U E I N V E S T M E N T O P P O R T U N I T Y • Multibillion USD opportunity Deliver more IVF babies 3 Product candidates in 4 large indications NOLASIBAN at lower cost Wholly-owned exclusive WW rights* IP ≥ mid-2030 for all 3 product candidates Effective without • Major catalysts in 2019 LINZAGOLIX hormone replacement therapy Nolasiban IMPLANT 4 IVF Ph3 readout and MAA filing Linzagolix PRIMROSE Fibroid Ph3 readout OBE022 PROLONG PTL Ph2a readout OBE022 Potential to save newborn lives • NOLASIBAN – Expected first launch in EU (1Q 2021) * Except for linzagolix Asia rights own by KISSEI ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 4
SEASONED LEADERSHIP TEAM Ernest Loumaye, Tim Adams Jean-Pierre Gotteland, PhD Wim Souverijns Beth Garner MD, PhD, OB/GYN Chief Financial Officer Chief Scientific Officer Chief Commercial Officer Chief Medical Officer CEO and Co-founder ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 5
O B S E VA P I P E L I N E PRODUCT PRECLINICAL PHASE 1 PHASE 2 PHASE 3 NEXT MILESTONES COMMERCIAL CANDIDATE RIGHTS IVF – Ph3 IMPLANT 2 EU * Primary endpoint data IMPLANT 4 Q4 2019 NOLASIBAN IVF – Ph3 IMPLANT 4 EU ** Exclusive Oral oxytocin EU MAA filing planned Worldwide receptor antagonist IVF – Ph3 IMPLANT 3 US ** late 2019 U.S. IMPLANT 3 Initiation Q4 2019/Q1 2020 IVF – Ph3 IMPLANT 5 CHINA Endometriosis – Ph2b EDELWEISS *** LT follow-up completed 1H:19 Endometriosis – Ph3 EDELWEISS 2 US *** LINZAGOLIX Initiated Phase 3 Q2 2019 Exclusive (OBE2109) Endometriosis – Ph3 EDELWEISS 3 EU & US Worldwide Oral GnRH (ex-Asia) receptor antagonist Uterine Fibroids – Ph3 PRIMROSE 1 US 24W Primary Endpoint Data Q4 2019-H1 2020 Uterine Fibroids – Ph3 PRIMROSE 2 EU & US NDA targeted end of 2020 OBE022 EU Phase 2a PROLONG Exclusive Oral PGF2α Preterm Labor – Ph2a PROLONG Interim Efficacy Q4 2019 Worldwide receptor antagonist * Week 10 ongoing pregnancy primary endpoint met – Live Birth Rate secondary endpoint met ** Second Phase 3 study (EU/Canada/Russia) initiated *** Primary and secondary endpoints met ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 6
N O L A S I B A N ( O B E 0 0 1 ) – F I R S T- I N - C L A S S O R A L O X Y T O C I N R E C E P T O R A N TA G O N I S T T O I M P R O V E E M B RY O T R A N S F E R O U T C O M E ( I V F ) NOLASIBAN Well-characterized profile; Positive Phase 3 EU trial results At a Glance Dosing Profile Target Markets • Oxytocin Receptor • Single oral 900mg dose +/- 4 • >2.0M ART/IVF cycles/year Antagonist hours prior to embryo globally transfer • MOA uterine contractions/ • >800K cycles in Europe and blood flow, endometrium • tmax at 2-4h; t1/2= 12h China receptivity • High bioavailability • ~260K cycles in US in 2016 • Exclusive worldwide license from Merck Serono • >650 subjects exposed – well • ART cycle cost: $10-20K+ in tolerated the US, € 4-10K in the • IP Protection to ≥ 2035 - 2036 EU/China ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 8
I N F E R T I L I T Y I S A G L O B A L P U B L I C H E A LT H I S S U E 1 Infertility – a health & societal issue 9% of women 20-44 affected globally China: ~22.7 million Ageing population problematic women aged 20–44 Europe: ~7.2 million 2 Too few healthy babies women aged 20–44 Despite good quality embryos & using best practice transfer techniques, Japan: ~1.6 million IVF success rate not optimal U.S.: ~4.8 million women aged 20–44 women aged 20–44 3 IVF comes with a significant cost Patients often self-fund Payers see an unacceptably high multiple pregnancy rate Society pays a higher cost per healthy baby 1WHO infertility website, April 2018. – http://www.who.int/reproductivehealth/topics/infertility/perspective/en/ ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 9
M U LT I P L E E M B RY O T R A N S F E R S S I G N I F I C A N T LY I N C R E A S E M U LT I P L E B I R T H S Four or more 0.7% Live Multiple No. ET birth % birth % Single ET 50.2% 2.0% Multiple ET 58.0% 43.8% One 45.8% • >50% of day 5 transfers with 2 or more embryos Three • Relative 15% higher live birth rate 4.6% • Relative 2000% higher multiple birth rate Two 48.9% Source: US CDC 2016 ART National Summary Report ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 10
NOLASIBAN: PHASE 3 TRIAL IN IVF IMPLANT 2 Main study Follow Up 2 weeks Primary Analysis Ongoing 900mg nolasiban pregnancy n=194 D3 ET Not pregnant 10 weeks 9 weeks Placebo n=194 Screening – IVF 900mg nolasiban n=194 Neonatal Infant D5 ET Pregnant W6 W10 FU FU Placebo n=196 28 days 6 months • Age 18–36 y Randomize Birth • Fresh D3 or D5 SET • Max 1 failed previous IVF • P4 ≤ 4.7 nmol on day hCG • Vaginal P4 for luteal support 778 Patients enrolled – Trial conducted in 41 fertility centers in 9 European countries ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 11
E F F I C A C Y R E S U LT S : P R I M A RY A N A LY S I S POOLED D3/D5 50% p=0.031 p=0.025 7.1% absolute 40% Placebo n=390 35.6% increase or 25% 34.8% Nolasiban 900mg, n=388 relative increase in 30% 28.5% 27.7% LBR versus placebo for pooled D3 and 20% D5 SET data 10% 0 Ongoing pregnancy Live birth rate (%) rate at 10 weeks (%) ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 12
E F F I C A C Y R E S U LT S F O R D 5 E T: 3 5 % R E L AT I V E I N C R E A S E IN LBR FOR NOLASIBAN VS. PLACEBO D3 SET D5 SET Placebo n=194 Nolasiban n=194 Placebo n=196 Nolasiban n=194 p=0.034 p=0.025 50% 50% 45.9% 44.8% 40% 40% 34.7% 33.2% p=0.477 p=0.552 30% 30% 25.3% 24.7% 22.7% 22.2% 20% 20% 10% 10% 0 0 Ongoing pregnancy Live birth rate (%) Ongoing pregnancy Live birth rate (%) rate at 10 weeks (%) rate at 10 weeks (%) ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 13
I M P L A N T 2 S A F E T Y F O L L O W- U P R E S U LT S Pregnancy and Live Birth • Lower miscarriage rate • No increase in ectopic pregnancy • No increase in congenital malformations 28 day Neonatal Follow-up • No difference in ICU admissions • No difference in reported neonatal morbidity 6 month Infant follow-up • No treatment related SAE’s identified • ASQ-3 scores similar to placebo ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 14
IMPLANT 4 EU STUDY DESIGN READOUT 4Q:19 Main study Follow Up 2 weeks Primary analysis 10 week 900mg Not Pregnant pregnancy rate 9 weeks n = 410 Screening D5 Set Placebo Preg. Infant n = 410 Pregnant W6 W10 FU FU 28 days 6 & 12 months Randomize Sample Size Study Endpoint Total (per arm) Placebo Active Power 820 (410) Ongoing pregnancy 34.7% 45.9% 90% ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 15
2019 NOLASIBAN DEVELOPMENT PLAN IMPLANT4 Trial initiated Q4:18 – MAA filing 4Q:19 800 patients, 40 centers in Europe, Russia, Canada Day 5, Fresh SET Primary endpoint 10 week ongoing pregnancy Planning U.S. Ph3 program start EOP2 FDA meeting completed Q2:19 Submitting updated IND/protocol, trial start Q4:19/Q1:20 Getting started in China Opening IND Assessing development and commercial strategic options Proprietary & Confidential Materials of ObsEva S.A. 16
Key hypotheses on mode of action of OT antagonism in IVF: supported by literature and nolasiban study conducted in 45 HV undergoing hormonal preparation mimicking the conditions of frozen thawed embryo transfer1 Reduced uterine NOLASIBAN contractions2,1 Oxytocin • Uterine contraction frequency reduced over 24 hour Oxytocin measurement period Receptor NOLASIBAN OTR Antagonist Increased endometrium blood flow3,1 • Improved perfusion (flow and vascularity) in the endometrium, Functional oxytocin receptors but not uterus, showing targeted activity favorable for embryo are expressed in human implantation non-pregnant uterus on: • Myometrium smooth muscle cells • Uterus arteries smooth muscle cells Increased endometrium receptivity4,1 • In vitro changes consistent with improved receptivity4 and in vivo • Endometrium glandular epithelial cells changes in gene expression potentially relevant for uterine receptivity1 1 Study 18-OBE001-004: data on file; 45 healthy women underwent hormonal preparation mimicking the conditions of a frozen thawed embryo transfer and treated at 900 or 1800 mg nolasiban or placebo. Effects on uterine contractions, perfusion, and endometrial genomics in addition to safety and pharmacokinetics were assessed. 2 Lan Reprod Biomed Online. 2012 Sep;25(3):254-60; 3 Kalmantis et al., Arch Gynecol Obstet 2012; 285:265-270; 4 Sztachelska et al., RBMO, 2019 ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 17
A L E A N O P E R AT I O N TO C O M M E R C I A L I Z E N O L A S I B A N E F F E C T I V E LY 1 Highly concentrated 2 Sophisticated B2B market 3 No competition ART Centers (#) 105 134 354 231 82 ~ 500 100 FTEs can drive a blockbuster business ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 18
K E Y TA K E AWAY S Concentrated market allows us to 1 In our reach go to market ourselves Nolasiban can impact the physical, mental, and 2 Offsetting the pain of IVF financial pain of IVF 3 Strong value proposition High economic value of nolasiban Peak sales potential ranging from $0.5B to nearly 4 Significant opportunity $2B depending on share & price assumptions ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 19
LINZAGOLIX (OBE2109) Endometriosis and Uterine Fibroids: Effective without hormone replacement therapy
L I N Z A G O L I X , A P O T E N T I A L B E S T- I N - C L A S S , O R A L , G n R H R E C E P TO R A N TA G O N I S T LINZAGOLIX Validated MOA, Ph3 Trials ongoing targeting large populations At a Glance Dosing Profile Target Markets • Oral GnRH receptor • 15h t1/2 for once daily dosing • Uterine Fibroids for heavy antagonist menstrual bleeding • High bioavailability, low ~ 4 million women diagnosed • Licensed from Kissei (WW volume of distribution and treated rights, excludesAsia) • No interaction with food, ~ 200,000 surgeries/year • IP protection to ≥ 2036 CYP3A, OATP1 • Endometriosis for menstrual and non menstrual pelvic pain • > 1,850 female subjects exposed ~ 2.5 million women diagnosed and treated ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 21
O U R A I M – P R O V I D I N G T H E M O S T S I M P L E , C O N V E N I E N T, E F F E C T I V E A N D S A F E S T, L O N G T E R M T R E AT M E N T Week 24 Modeled E2 Data (whiskers represent 10%/90% percentile) 1 Linzagolix 75mg 1 Preferred first line option 2 Linzagolix 200mg + estradiol If needed, higher dose + norethindrone acetate* 2 option with ABT available Linzagolix Daily Dose (mg) for 24 Weeks * Add Back Therapy (ABT) ActivellaTM ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 22
P H A S E 2 B E D E LW E I S S C L I N I C A L T R I A L E N D O M E T R I O S I S PAT I E N T S Primary endpoint: Secondary VRS pain score endpoint: responder rate BMD** June 2018 September 2018 12 weeks Placebo 12 weeks Follow-up results 1H 2019 8–14 weeks 50 mg daily 50 mg daily 24 weeks LEAD-IN 75 mg daily 75 mg daily FOLLOW-UP 100 mg daily 100 mg daily 200 mg daily 200 mg daily Optional extension 75 mg daily* * Titrated dose 50–100 mg 6 m + 6m f-up * Titration after 12 weeks based on E2 serum level at weeks 4 and 8 Enrollment 328 patients • 50 sites in US (n=177) • 14 sites in EU (n= 151) **BMD: Bone Mineral Density ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 23
E D E LW E I S S P R I M A RY A N D S E C O N D A RY E N D P O I N T S * = p value
LINZAGOLIX PHASE 3 ENDOMETRIOSIS TRIALS E D E LW E I S S 2 A N D 3 + E X T E N S I O N S T U D I E S Initiated 1H:19 6 months extension study 6 months treatment 75 mg daily 11±5 weeks Placebo 200 mg daily + ABT 6 months Lead-in 75 mg daily 75 mg daily Follow-up 200 mg daily + ABT 200 mg daily + ABT 6 months Follow-up Co-Primary endpoint: DYS/ NMPP responder analysis ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 25
PRIMROSE 1 & 2: P H A S E 3 C L I N I C A L T R I A L S F O R T H E T R E AT M E N T O F U T E R I N E F I B R O I D S : C O N T R O L L I N G H E AV Y M E N S T R U A L B L E E D I N G Primary endpoint: Responder-HMB Reduction 8–14 weeks 24 weeks Q4:19/H1:20 28 weeks PRIMROSE 1 24 weeks Placebo + placebo add-back 100% US sites n = 100 Placebo + placebo add-back 200mg + add-back n = 100 100mg + placebo add-back 100mg + placebo add-back 24w follow-up n = 100 Screening 100 mg + add-back 100 mg + add-back n = 100 200 mg + placebo add-back 200 mg + add-back n = 100 200 mg + add-back 200 mg + add-back PRIMROSE 2 70% Europe 30% US sites n = 100 Placebo + placebo add-back 200mg + add-back n = 100 100mg + placebo add-back 100mg + placebo add-back 24w follow-up n = 100 Screening 100 mg + add-back 100 mg + add-back n = 100 200 mg + placebo add-back 200 mg + add-back n = 100 200 mg + add-back 200 mg + add-back • IND granted in April 2017 • Currently recruiting • Aiming at supporting the registration of two regimens of administration ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 26
“ A B T O R N O A B T, T H AT I S T H E Q U E S T I O N ” D I F F E R E N T I AT I N G B Y N O A B T * Gynecologist survey in US shows high preference 1 of no ABT as first line therapy Preferred dosing is to start low and go higher as 2 needed Trend toward patients preferring avoidance of 3 hormone therapy vs. endogenous estrogen management 4 ABT comes with HRT black box warning* * Activella US FDA Label: cardiovascular disorders, breast cancer, endometrial cancer, and probable dementia ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 27
L I N Z A G O L I X S T R AT E G Y A N D D I F F E R E N T I AT I O N : O B S E VA I S T H E O N LY C O M PA N Y D E V E L O P I N G A S I M P L E & S A F E N O A B T R E G I M E N F O R B O T H I N D I C AT I O N S Administration • Once a day – no food interaction – no DDI • Applicable to low dose and high dose Partial E2 suppression – no need for ABT • Preferred option – only one active drug • In development for both endometriosis and uterine fibroids • Responder rate approximating 50% regarded as highly clinically meaningful Full E2 suppression – need for ABT • Second line – Combination of 3 active drugs • In development for both endometriosis and uterine fibroids ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 28
OBE022 Preterm Labor: Potential to save newborn lives
O B E 0 2 2 , F I R S T- I N - C L A S S O R A L A N D S E L E C T I V E P G F 2 Α R E C E P T O R A N TA G O N I S T F O R PRETERM LABOR (PTL) OBE022 Well-characterized MOA, Strong pre-clinical/Phase 1 safety At a Glance Dosing Profile Target Markets • Prostaglandin F2α (FP) • Targeting myometrium • Preterm labor (GA 24-34 receptor antagonist contractions, cervix dilation, weeks) incidence membrane rupture, • US ~ 500K • Licensed from Merck Serono inflammatory processes • EU ~ 500K • Composition of matter • Asia ~ 6.9M1 • Current treatments limited protection through 2037 with efficacy & restrictive safety • Economic burden for PTE premature infants in the US • Goal to delay labor by 2-7 ~$26B ($16.9B in infant days to treat fetus for organ medical care) protection 1 WHO ‘Born Too Soon: The Global Action Report on Preterm Birth’ (2012) ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 30
OBE022 P R O L O N G P H 2 A S T U D Y ( PA R T S A A N D B ) Preliminary safety Final Part A Main study end End of Infant FU & PK analysis Main analysis Part A Dosing for 7d Maternal + neonatal FU 24-month Infant FU Up to 8 patients Open-label: Atosiban + OBE022 Final Part B Main analysis Part B Dosing for 7d Maternal + neonatal FU 24-month Infant FU up to 60 patients + up to 60 patients • Double-blind: Atosiban + OBE022 vs Atosiban + PLACEBO • Part A completed • Part B began Q4:18 ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 31
2019 FINANCIAL OUTLOOK June 30 2019 Cash $98.5 million Projected 2019 Cash Use $105-110 million Expected Cash Runway Q4:20 with $75 million credit facility 2019 Investment Includes as many as 6 Phase 3 trials enrolling Phase 3 data readouts for linzagolix and nolasiban Getting started with nolasiban in U.S. and China Phase 2 decision for OBE022 Pre-commercial nolasiban in EU ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 32
O B S E VA – A U N I Q U E I N V E S T M E N T O P P O R T U N I T Y • Multibillion USD opportunity Deliver more IVF babies 3 Product candidates in 4 large indications NOLASIBAN at lower cost Wholly-owned exclusive WW rights* IP ≥ mid-2030 for all 3 product candidates Effective without • Major catalysts in 2019 LINZAGOLIX hormone replacement therapy Nolasiban IMPLANT 4 IVF Ph3 readout and MAA filing Linzagolix PRIMROSE Fibroid Ph3 readout OBE022 PROLONG PTL Ph2a readout OBE022 Potential to save newborn lives • NOLASIBAN – Expected first launch in EU (1Q 2021) * Except for linzagolix Asia rights own by KISSEI ©2019 OBSEVA S.A. CONFIDENTIAL AND NOT FOR DISTRIBUTION. COPYING OF THIS MATERIAL BY ANY MEANS WITHOUT OBSEVA’S PRIOR WRITTEN CONSENT IS PROHIBITED. 33
THANK YOU September 2019 NASDAQ:OBSV | SIX:OBSN
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