Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies

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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
Innovating Women’s Reproductive
Health and Pregnancy Therapeutics

                November 2018
          NASDAQ:OBSV | SIX:OBSN
Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
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, 2017, as filed
with the Securities and Exchange Commission on March 9, 2018 and our other filings it makes with the Securities and Exchange
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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
A B O U T O B S E VA
                                                                        Strategic Focus
                                                                          (Women ages 15 - 49)

                                                                          Uterine Fibroids
     ObsEva is a clinical stage
     biopharmaceutical company                                             Endometriosis
     dedicated exclusively to
     women’s health.
                                                                           Infertility - ART
     We are passionately focused on
     addressing serious, quality-of-life
     impacting conditions and                                                Preterm Labor
     reproductive challenges faced by
     women around the world.                                                  Preeclampsia

Ticker: OBSV (NASDAQ), OBSN (SIX) Headquarters: Geneva, Switzerland U.S. office: Boston MA, Employees: 45
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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
LEADERSHIP

Ernest Loumaye, MD, PhD         Tim Adams           Jean-Pierre Gotteland, PhD     Elke Bestel, MD           Ben T.G. Tan, MSc

    Co-founder &          Chief Financial Officer     Chief Scientific Officer   Chief Medical Officer        Vice President,
Chief Executive Officer                                                                                      Commercial & BD

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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
C O M PA N Y H I G H L I G H T S
• Three NCE’s focused on Women’s Health/Fertility Addressing Major Unmet Need

• Compounds with 1st/best in class potential addressing significant markets
    Nolasiban for IVF in Phase 3
    Linzagolix (OBE2109) for endometriosis & uterine fibroids in Phase 3
    OBE022 for PTL in Phase 2

• Own worldwide rights for all (ex Linzagolix in Asia)
    IP protection for all up to late 2030’s
    Retaining commercial rights

• Value creating events in 2019
                        Finalize US trial design and begin US IVF development program            2019
    Nolasiban          Prepare commercial operations in EU & US                                 2019
                        Primary endpoint pregnancy results from EU IMPLANT4 in IVF             Q4 2019
                        Planned EU MAA submission for IVF                                      Q4 2019
                        Phase 3 US & EU endometriosis Start                                    Q1 2019
    Linzagolix
                        6 Month US & EU Phase 3 PRIMROSE 1 and 2 Results in uterine fibroids   H2 2019

                        Interim efficacy from Phase 2a PROLONG in PTL                          Q1 2019
    OBE022
                        Complete PROLONG follow-up and move to Phase 2b                        H2 2019

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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
ROBUST PIPELINE
PRODUCT CANDIDATE                  PRECLINICAL                 PHASE 1   PHASE 2   PHASE 3      STATUS & NEXT           COMMERCIAL
                                                                                                  MILESTONE               RIGHTS

                                     IVF: IMPLANT2 EU                                 ***    Primary endpoint data
                                                                                             Phase 3 IMPLANT 4
         NOLASIBAN                                                                           & EU MAA filing Q4 2019
              Oral oxytocin         IVF: IMPLANT4 EU                                                                     Worldwide
        receptor antagonist                                                  **
                                                                                             US IMPLANT 3 Phase 3
                                   IVF: IMPLANT3 US                                          Initiation 2019

                                                                                             Phase 2b EDEWEISS
                                                                                             Complete

                                    Endometriosis: EDELWEISS                  **             FDA EOP2 Meeting Q4
       LINZAGOLIX*                                                                           2018 & initiate Phase 3
          (OBE2109)                                                                          Q1 2019                     Worldwide
       Oral GnRH receptor                                                                    US/EU Phase 3                ex-Asia
               antagonist                                                                    PRIMROSE 1 & 2
                                                                                             Enrolling
                                   Uterine Fibroids: PRIMROSE 1 & 2
                                                                                             6 month Primary Endpoint
                                                                                             Data H2 2019
                                                                                             EU Phase 2a PROLONG
                 OBE022
       Oral PGF2α receptor        Preterm Labor: PROLONG                                                                 Worldwide
                                                                                             Interim Efficacy
               antagonist                                                                    Q1 2019

* Kissei developing for Asia
** Week 12 primary and secondary endpoints met in June 2018
*** Week 10 pregnancy, primary endpoint met in February 2018
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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
NOLASIBAN (OBE001)
Improving In Vitro Fertilization Outcomes
Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
NOLASIBAN (OBE001)
                 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 I V F O U T C O M E S

                          Nolasiban AT-A-GLANCE                                   Nolasiban INDICATIONS

                        • Oxytocin Receptor Antagonist                           In Vitro Fertilization (IVF)

                        • Licensed from Merck Serono                             • Market size: >2.01M ART/IVF cycles/year globally
                                                                                   (~230K in US in 2015, ~680K in Europe in 2013 and
                        • IP Protection to late 30’s                               ~400K in Japan in 2015)

                                                                                 • ART cycle cost: $10-20K+ in the US, € 4-10K in the
                                                                                   EU and $3-6K in Japan

                                                                                 • Estimated global sales of fertility drugs > $ 2.5B

                                                                      NOLASIBAN

                                   Well-characterized profile; Phase 2 clinical trial completed; EU Phase 3 completed
                     >650 subjects                Orally active -      tmax at 2h; t1/2= 12h;            Single oral 900mg
                      exposed                       Well tolerated        High bioavailability               optimal dose
* Source: IQVIA’s MIDAS Data Tool , 2018.

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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
I N F E R T I L I T Y: A G L O B A L P U B L I C H E A LT H I S S U E , B U T
       I V F I S C O S T LY A N D N O T E F F I C I E N T E N O U G H
      • Infertility – a health & societal issue
            9% of women 20-44 affected globally
            Ageing population problematic
      • Too few healthy babies                                                                                    Japan: ~1.6 million
                                                                                                                  women aged 20-44
           Despite good quality embryos & using best practice                                                    (9% of 18 million)
            transfer techniques, IVF success rate not optimal
      • IVF comes with a significant cost
           Couples often self fund                                        U.S.: ~7.7 million
                                                                           women aged 15-44
                                                                                                                             Japan: ~1.6 million
                                                                                                                             women aged 20-44
           Payers see an unacceptably                                     (12.1% of 64mn)                                   (9% of 18 million)
                                                                           (CDC 2015)
            high multiple pregnancy rate                                                        Europe: ~7.2 million
           Society pays a higher cost                                                          women aged 20-44
                                                                                                (9% of 80 million)
            per healthy baby
* WHO infertility website, April 2018.
http://www.who.int/reproductivehealth/topics/infertility/perspective/en/

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Innovating Women's Reproductive Health and Pregnancy Therapeutics - November 2018 - Jefferies
NOLASIBAN: MECHANISM OF ACTION
I N C R E A S I N G C L I N I C A L P R E G N A N C Y A N D L I V E B I R T H R AT E

                            Nolasiban

                                                      Functional Oxytocin receptors
                                                      are expressed in human non-
                                                      pregnant uterus on:
                                                         • Myometrium smooth muscle cells
                                                         • Uterus arteries smooth muscle cells
                                                         • Endometrium glandular epithelial cells

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NOLASIBAN: IMPLANT2 PHASE 3 CLINICAL
         T R I A L P R O TO C O L
         Main Study                                                                                   Follow-Up
     •   Age Range: 18-36                                        Primary Analysis
     •   Fresh D3 and D5 SET
     •   Max 1 prior failed IVF                                      10 week
     •   P4 ≤ 4.7 nmol/L on day of                                                                 1 month
         hCG                                                      pregnancy rate
     •   Vaginal progesterone for
         luteal support                         900 mg, n=380                          Not preg.             FU

                                      D3 or
SCREENING           IVF/ICSI
                                     D5 SET*
                                                                                            7–8 months                   6 months

                                                Placebo, n=380                         Preg.          Preg. FU           Neonatal FU

                                         Randomize                                                               Live Birth

                                                       Target enrollment of 760 patients
*SET = Single Embryo Transfer                    41 fertility centers in 9 European countries

                                                                                                                  11
NOLASIBAN: IMPLANT2
F O R T H E T R E AT M E N T O F I N F E R T I L I T Y

 IMPLANT 2:
     • EU phase 3, randomized, double blind, clinical trial assessing Nolasiban compared to placebo for
       improving the rate of pregnancy in patients undergoing IVF or ICSI due to low fertility

     Initial data released in February 2018
     • Met primary endpoint of increase in 10 week on-going pregnancy rate

     Additional data released in October 2018
     • Significant improvement in live birth rate vs. placebo
     • ASRM data showed lower miscarriage rate

                                                                                      12
I M P L A N T 2 : P R I M A RY E F F I C A C Y E N D P O I N T
P O O L E D D AY 3 A N D D AY 5 S E T

                        Pooled D3 and D5
                                        Nolasiban
                           Placebo                   Increase      p
                                         900 mg
                    n        390            388
       Ongoing
       pregnancy rate       28.5%          35.6%      7.1%       0.031
       at 10 weeks

       • Absolute 7.1% increase compared to placebo with > 5% considered
         clinically meaningful
       • Relative 25% increase compared to placebo

                                                                       13
N O L A S I B A N : I M P L A N T 2 : S E C O N D A RY E F F I C A C Y
  ENDPOINT
  S U B G R O U P E F F I C A C Y A N A LY S E S : I N D I V I D U A L D 3 A N D D 5 S E T

                                           D3                                     D5
                                   Nolasiban                              Nolasiban
                         Placebo                Delta    p      Placebo                 Delta    p
                                    900 mg                                 900 mg

                     N    194        194                         196        194
Ongoing pregnancy
                         22.2%      25.3%       3.1%    0.477   34.7%      45.9%       11.2%    0.034
rate at 10 weeks
Live birth rate          22.7%      24.7%       2.5%    0.552   33.2%      44.8%       11.6%    0.025

             • Live Birth Rate increased by a relative 33% after SET at day 5

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NOLASIBAN: PREGNANCY OUTCOMES AND SAFETY
I N I V F PAT I E N T S
C U M U L AT I V E D ATA F R O M 2 P L A C E B O - C O N T R O L L E D R A N D O M I Z E D
TRIALS
                                                        Nolasiban           Placebo
                                                         (n=570)            (n=455)
  Positive pregnancy test (Day 14 post-OPU)            274 (48.1%)         188 (41.3%)

  Pregnancy loss (≤ week 10)                           61 (22.3%*)         53 (28.2%*)

  Ectopic pregnancy                                     3 (1.1%*)           5 (2.7%*)

  Ongoing pregnancy at week 10 post-ET                 213 (37.4%)         130 (28.6%)

  Pregnancy loss (week 10 to 24)                        6 (2.8%**)         3 (2.3%**)

  Fetus/neonate with Serious Adverse Event             15 (7.0%**)         9 (6.9%**)

  Congenital malformations                             11 (5.2%**)         7 (5.4%**)
  * % of positive pregnancy test at 14 days post-OPU
  ** % of ongoing pregnancy at week 10
                                                                               15
N O L A S I B A N E N A B L E S U S TO D E L I V E R M O R E
    B A B I E S AT L O W E R C O S T
• Nolasiban can deliver 1/3 more babies
   Day 5 SET increases LBR by 11.6%,
    a 33% relative increase
   No evidence of tolerability or safety issues
   Reduced miscarriage rate, no increase in congenital malformation                     Japan: ~1.6 illion
                                                                                         women aged 20-44
• Potential to lower cost of obtaining a baby                                            (9% of 18 million)

   Targeting more babies delivered at same total IVF costs
   No incremental cost due to side effects
   Estimated IVF cycle cost reduction $4-20 K depending on country

• Potential to lower healthcare costs
   Reduce use of DET (Double Embryo Transfer)
   Lower incidence of multiple pregnancies
   Avoids mother/infant costs related to delivery and neonatal care
   Avoids long term costs related to development and chronic health of twins, triplets, or more
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N O L A S I B A N : M A R K E T S T R AT E G Y
LEAN COMMERCIAL INFRASTRUCTURE FOCUSED ON SMALL
NUMBER OF ART CLINICS IN THE U.S. AND EU

UNITED STATES

   • ~500 ART Clinics in the U.S.
   • Clusters

EUROPE

   • ~906 ART Clinics in EU 5

                                                 17
LINZAGOLIX (OBE2109)
Potential Best in Class Oral GnRH antagonist
Indications: Endometriosis and Uterine Fibroids
ENDOMETRIOSIS AND UTERINE FIBROIDS
R E D U C I N G E S T R O G E N A L L E V I AT E S S Y M P T O M S

         Endometriosis                                       Uterine Fibroids

  Symptoms: pelvic pain and infertility              Symptoms: heavy menstrual bleeding,
                                                     pelvic pressure/pain, and dysmenorrhea
                                                                                 19
UNMET MEDICAL NEED IN ENDOMETRIOSIS &
UTERINE FIBROIDS THERAPY

LARGE U.S. MARKET SIZE                                                                      EXISTING TREATMENTS

Endometriosis
  • 2.5 million women diagnosed and
                                                                                            Oral Contraceptives/NSAID’s/Opioids
    treated annually
                                                                                                • Limited symptom reduction
  • Seeking to unlock another 2.5 million
    undiagnosed due to non-specific                                                         LUPRON® Injections (GnRH agonist)
    symptoms and invasive laparoscopy                                                           •   Not ideal for younger, chronic population
                                                                                                •   Associated with initial symptom flares
                                                                                                •   Full estrogen suppression
Uterine Fibroids                                                                                •   ABT* mandatory > 6 months
  • 4 million women diagnosed and                                                           Surgical Interventions
    treated annually                                                                            • Avoid hysterectomy to preserve fertility & integrity
  • Approximately 200,000 surgeries                                                             • High rate of reconcurrence after conservative surgery
    (Hysterectomy) annually

  * Low dose Add Back Therapy (ABT) = estradiol/norethindrone acetate - tablet 1.0 mg/ 0.5 mg

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LINZAGOLIX
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 T O R A N TA G O N I S T

Linzagolix AT-A-GLANCE                                    Linzagolix INDICATIONS

• GnRH oral receptor antagonist                            Uterine Fibroids
                                                              • Symptoms: heavy menstrual
• OBE2109 (KLH-2109)
                                                                bleeding and abdominal pain
• Licensed from Kissei (WW rights, excludes                   • Primary goal is to reduce/eliminate
  Asia)                                                         bleeding
• IP protection to late 2030’s                             Endometriosis
• > 1600 female subjects exposed to date                      • Symptoms: pain and infertility
                                                              • Primary goal is to alleviate pain

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B E N E F I T S O F G n R H A N TA G O N I S T S V S A G O N I S T S
                                                  Allows for
                                                 partial or full
                                                   estrogen
• Competitively                                  suppression
                                                  based on
  preventing endogenous        Immediate             need
  GnRH from binding and           action
  activating its pituitary    No initial flare                        Rapid
                                                                   Reversibility
  receptor                    & worsening
                              of symptoms
• Contrasting with GnRH                          More suitable
  agonists, inducing                              for chronic
  neither downregulation,                           therapy
  nor desensitization of
  the receptors                Oral dosing
                                enhances                           Consistent
                                 patient                             PK/PD
                               compliance

                                                                        22

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LINZAGOLIX (OBE2109) PHASE 2B CLINICAL TRIAL
( E D E LW E I S S ) I N E N D O M E T R I O S I S PAT I E N T S
                                         Primary endpoint:
                                          VRS pain score                                        Key secondary
                                          responder rate                                       endpoint: BMD**
                                                June 2018                                      September 2018
                  12 weeks
                   Placebo                                                      12 weeks
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

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L I N Z A G O L I X : P H A S E 2 B E D E LW E I S S T R I A L
F O R T H E T R E AT M E N T O F E N D O M E T R I O S I S

 E D E LW E I S S :
     •   Phase 2b, randomized, double blind, placebo controlled clinical trial designed to evaluate the safety
         and efficacy of multiple doses of Linzagolix

     12 week data was released in June 2018
          •   Met primary endpoint of increased response rates on 0-3 VRS pain scale

     24-week data was released in September 2018
          •   Pain response rates continued to increase, minimal BMD decline from baseline as expected

     75mg w/o ABT and 200mg with ABT are the Doses Targeted For Phase 3 Development

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L I N Z A G O L I X : E D E LW E I S S P R I M A RY E N D P O I N T
O V E R A L L P E LV I C PA I N R E S P O N D E R A N A LY S I S AT W 1 2 / W 2 4
% of subjects with ≥ 30% reduction of Mean Overall Pelvic Pain Score (0-3 VRS)
  Baseline Change                      Placebo/
                        Placebo                   50 mg FD       75 mg FD       75 mg TD     100 mg FD      200 mg FD
   VRS score for                      100 mg FD
                         (N=53)                    (N=49)         (N=56)         (N=58)        (N=51)         (N=56)
    Overall Pain                        (N=53)
Week 24 (n)                 -            36           40            48                  45       39             44

 ≥ 30% reduction (%)        -           63.9         52.5          70.8             66.7        66.7           77.3

Week 12

 ≥ 30% reduction (%)      34.5            -          49.4                   61.5                56.4           56.3

 95% CI                22.38, 49.09       -       34.92, 63.90           51.76, 70.38        41.59, 70.17   42.28, 69.42

 Odds Ratio                 -             -           1.85                   3.03                2.45           2.45

 95% CI                     -             -       0.791, 4.317           1.469, 6.239        1.049, 5.741   1.069, 5.593

 p-value
                            -             -          0.155                  0.003               0.039          0.034
 vs. Placebo

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L I N Z A G O L I X : E D E LW E I S S S E C O N D A RY E N D P O I N T
N M P P R E S P O N D E R A N A LY S I S
% of subjects with ≥ 30% reduction of Mean NMPP score (0-3 VRS)
   Change from                         Placebo/
                        Placebo                 50 mg FD       75 mg FD      75 mg TD    100 mg FD       200 mg FD
     Baseline                         100 mg FD
                         (N=53)                  (N=49)         (N=56)        (N=58)       (N=51)          (N=56)
VRS score for NMPP                      (N=53)

Week 24 (n)                 -            35         45            48              24         55             44

 ≥ 30% reduction (%)        -           60.0       50.0          72.9             64.4      64.1            72.7

Week 12

 ≥ 30% reduction (%)      37.1            -        46.2                   58.5              61.5            47.7

 95% CI                24.58, 51.67       -    32.13, 60.97        48.72, 67.58          46.51, 74.54 34.20, 61.50

 Odds Ratio                 -             -        1.46                   2.38               2.70           1.54

 95% CI                     -             -     0.628, 3.383           1.170, 4.859      1.156, 6.318 0.682, 3.496

 p-value
                            -             -        0.380                  0.017             0.022          0.297
 vs. placebo

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L I N Z A G O L I X : E D E LW E I S S A D D I T I O N A L O U T C O M E S
7 5 M G T O 2 0 0 M G S I G N I F I C A N T LY A N D C O N S I S T E N T LY I M P R O V E D
A S S O C I AT E D S Y M P T O M S
Efficacy
Other patient symptoms (VRS):
 • Dyschezia
 • Dyspareunia (statistical significance at the 200mg dose)

Patient Well Being assessed by the following:
 • Endometriosis Health Profile-30 score;
 • Patient Global Impression of Change scale (PGIC);
 • Patient Global Impression of Severity (PGIS);
 • Activity impairment score; and
 • Modified Biberoglu & Behrman score

 Tolerability

                     Placebo         Linzagolix          Linzagolix           Linzagolix       Linzagolix
                       (N=55)        50 mg; (N=49)   75 mg FD/TD; (N=114)   100 mg; (N=52)   200 mg; (N=57)

   HOT FLUSH       6 (10.9)          7 (14.3)          22 (19.3)            14 (26.9)        24 (42.1)

                                                                                             27
L I N Z A G O L I X : E D E LW E I S S C H A N G E I N B O N E M I N E R A L
  DENSITY (BMD)
  MEAN % CHANGE FROM BASELINE TO MONTH 6
                Lumbar Spine                   To t a l H i p          Femoral Neck
  1

0.5

  0

-0.5
                                                                                           Plc
 -1
                                                                                           Plc/ 100 mg2
-1.5                                                                                       50 mg
       -1.6% lower bound CI for 75mg                                                       75 mg FD
 -2
                                                                                           75 mg TD
                                        -2.2% Cutoff requiring   ABT
-2.5                                                                                       100 mg
                                                                                           200 mg
 -3

       -3.6% lower bound CI for 200mg
                                                                                      28
LINZAGOLIX, GIVING WOMEN WITH ENDOMETRIOSIS THEIR
 LIVES BACK
 A L L E V I AT I N G S Y M P T O M S W H I L E M I N I M I Z I N G F U T U R E H E A LT H R I S K S

• Effective at reducing pain
   Effective at reducing menstrual & non-menstrual pain
   Effective at reducing pain during intercourse (dyspareunia) and during defecation (dyschezia)

• Potential improvement in how she feels
   Improvement of “well being”
   Allow couples to live more “normally”

• ABT needed only in minority of patients
   Nearly ¾ patients may achieve significant symptom relief with linzagolix 75 mg once daily, no need for
    ABT to protect BMD
   ABT boxed warning – low probability, but potentially very severe health consequences and
    contraindicated for women at risk for thrombosis
   ABT may increase bleeding/spotting
   Option for ABT with linzagolix 200 mg once daily only when necessary

                                                                                         29
LINZAGOLIX: 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
          UTERINE FIBROIDS
                                                                         Primary endpoint:
                                                                      Responder-HMB Reduction
                            8–14 weeks                                                                                                         24 weeks
                                                                              H2:19           28 weeks
16-OBE2109-008                                           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

16-OBE2109-009
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
                                                                                                                                  30
OBE022
Treating Preterm Labor
OBE022
PO TEN TIAL FIR ST- IN - C L ASS, O R AL AN D SEL EC TIVE PG F2 Α
R E C E P T O R A N TA G O N I S T F O R P R E T E R M L A B O R ( P T L )

OBE022 AT-A-GLANCE                                OBE022 INDICATION

• Prostaglandin F2α (FP) receptor antagonist       Preterm labor (GA 24-34 week)
                                                     • Incidence: USA: 500,000; EU: 500,000;
• Licensed from Merck Serono                           Asia: 6,900,000

• Composition of matter protection through           • Economic burden for premature infants:
                                                       ~$26Bin the US ($16.9B in infant medical
  2037 with PTE
                                                       care)

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B L O C K I N G P G F 2 Α R E C E P TO R H A S P O T E N T I A L TO
   T R E AT P T L W I T H I M P R O V E D S A F E T Y O V E R N S A I D S
                    Phospholipids                                                           Phospholipids
                                                       ‘Inflammation’
                 ArachidonicAcid                       Prostaglandins                    ArachidonicAcid

PGHS-1/2 = COX1/2
                              Indomethacin                Cytokines     PGHS-1/2 = COX1/2
                                                        Chemokines
                       PGH2                                                                    PGH2
                                                                                                                OBE022
            PGE2                     PGF2α                                          PGE2                     PGF2α

      EP1               EP2                                                   EP1               EP2
                                             FP                                                                 FP
      EP3               EP4                                                   EP3               EP4
    UTERUS:                                                               UTERUS:
    CONTRACT            RELAX          CONTRACT                           CONTRACT            RELAX          CONTRACT

      kidney, brain, vascular smooth muscle                                    PGF2α contracts the myometrium and
                                                  RUPTURE                     PGF2α metabolites rise in amniotic fluid
     Vasoconstriction of ductus arteriosus,                                          before and during labor
        renal and mesenteric arteries
        Platelet aggregation inhibition            CONTRACT                     PGF2α upregulates enzymes causing
                                                                               cervix dilatation and membrane rupture
                                                            DILATE
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O B E 0 2 2 : 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 concluded in Q3 18
                                        •    Part B initiated in Q4 18
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C O M PA N Y H I G H L I G H T S
• Three NCE’s focused on Women’s Health/Fertility Addressing Major Unmet Need

• Compounds with 1st/best in class potential addressing significant markets
    Nolasiban for IVF in Phase 3
    Linzagolix (OBE2109) for endometriosis & uterine fibroids in Phase 3
    OBE022 for PTL in Phase 2

• Own worldwide rights for all (ex Linzagolix in Asia)
    IP protection for all up to late 2030’s
    Retaining commercial rights

• Value creating events in 2019
                        Finalize US trial design and begin US IVF development program            2019
    Nolasiban          Prepare commercial operations in EU & US                                 2019
                        Primary endpoint pregnancy results from EU IMPLANT4 in IVF             Q4 2019
                        Planned EU MAA submission for IVF                                      Q4 2019
                        Phase 3 US & EU endometriosis Start                                    Q1 2019
    Linzagolix
                        6 Month US & EU Phase 3 PRIMROSE 1 and 2 Results in uterine fibroids   H2 2019

                        Interim efficacy from Phase 2a PROLONG in PTL                          Q1 2019
    OBE022
                        Complete PROLONG follow-up and move to Phase 2b                        H2 2019

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THANK YOU

       November 2018
  NASDAQ:OBSV | SIX:OBSN
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