Corporate Overviewwww.centurionbiopharma.com

2020Non-Confidential

Targeted Cancer Therapies

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Centurion Biopharma Highlights

Centurion is a private, preclinical-stage oncology-focused biotechnology company pioneering the development of ultra-high potency cytotoxins with a diagnostic for patients with advanced solid malignancies.

Centurion’s LADRTM technology was developed by our preclinical laboratory personnel who were early innovators in developing acid sensitive linkers attached to cytotoxins.

Our 4 preclinical product candidates LADR-7, LADR-8, LADR-9, and LADR-10 were developed by us exclusively, as well as our diagnostic ACDx (Albumin Companion Diagnostic).

Centurion retains worldwide development and commercialization rights to all of its preclinical product candidates.

Our plans are to initiate IND enabling studies and the clinical Phase 1-2 trial(s) with our diagnostic ACDx.

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Centurion’s Technology Platform

LADRTM (linker activated drug release) maximizes full potential to target and kill cancer cells while minimizing toxicity

Concentrates ultra high potency drugs inside the tumor, maximizing cancer cell kill and minimizing toxicity

Cancers are identified by the transport of our companion diagnostic (ACDx)bound to circulating albumin which accumulates in the tumor

LADRTM has demonstrated preclinical anti-tumor activity across solid tumor types (e.g. breast, NSCLC, ovarian, melanoma, head & neck, and others)

ACDx and LADRTM drugs will reduce the time to complete clinical trials because our companion diagnostic will allow us to enrich the population most likely to respond to the therapy

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LADRTM Target Product Profile

Highly Toxic Agents That Can Be Safely Administered Each Toxic Agent Formulated With a Linker That Will

Result in Selective Binding to Albumin In vivo Demonstrated Coupling to Albumin After Intravenous

Administration Stable in Circulation (pH 7.4 at Normal Body

Temperature or Febrile State) Decouple and Release Toxic Agent at Acidic pH and

Normal Body Temperature or Febrile State Companion Diagnostic (ACDx) Developed With the

Therapeutic

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Role of Albumin in Targeting Solid Tumors

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Albumin: Targeting Delivery Vehicle

Human Serum Albumin (HSA) Major source of essential amino acids (“fuel″) for cancer cells Localizes at tumor through the Enhanced Permeability and

Retention Effect (EPR) effect and macropinocytosis Serves as a transport molecule for metabolites, hormones, and

nutrients Long half-life (20 days)

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Albumin Accumulates in Tumors

Accumulation in tumor tissue due to the EPR effect (enhanced permeability and retention)

i.v. injection ofradiolabeled albumin

• Tumor mass: ca. 6 % of bodyweight

• ~23 % of theinjected dose accumulatedin the tumorof the hind leg (72 h)

W-256Sarcoma

Sinn, H., et al. Int J Rad Appl Instrum B (1990) 17:819

Kratz, Journal of Controlled Release (2008) 132:171

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LADRTM: Enhanced Permeability and Retention of Albumin

100‒500 nm

EPR = Enhanced Permeability and Retention

EPR

Eff

ect

albumin

Normal Tissue

Tumor Tissue

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LADR™ Albumin Binding Drug Conjugates

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Linker Activated Drug Release (LADRTM) Platform

2. Cleavable Linker• Novel linker keeps the

highly potent drug payload inactive until the conjugate reaches the tumor

• The linker is then cleaved which releases the payload

3. Targeting• Ensures rapid and

selective binding to circulating serum albumin

• Serum albumin transports the LADR™ drug to the tumor

1. Ultra High Potency Drug Payload

• Payloads are 10-1,000 times more potent than standard anti-cancer agents

• Similar to those used for ADCs (auristatins, maytansinoids)

Target albumin with ultra high potency drug to the tumor, minimize systemic toxicology

1 2 3

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LADR™ Mechanism of Action

Drug-linker conjugateis infused Tumor cells

Albumin transports drug to the tumor and

surrounding microenvironment

Linker breaks in the acidic (low pH) environment and releases the drug payload

Rapid and specific binding to circulating albumin as the target

1

2

3

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CytotoxicAgent Linker

CytotoxicAgent Linker

Albumin

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Natural Toxin Tubulin Binders

• ADCETRIS is an antibody-drug conjugate with anti-CD30 linked to an auristatin analogue (monomethyl auristatin E)

• KADCYLA is is an antibody-drug conjugate with anti-HER2 linked to a maytansinoid analogue (DM1)

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Tubulin Forms Microtubules

https://www.cherrybiotech.com/scientific-note/microtubule-dynamics-and-mapshttps://en.wikipedia.org/w/index.php?title=File:Kinetochore.jpg

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Toxins Inhibit Tubulin Polymerization

Pes et al., Journal of Controlled Release 296 (2019) 296:81

Auristatin E – White sticksAuristatin E-Keto – Salmon sticks

α1 tubulin chain – Tan surfaceβ2 tubulin chain – Blue surface

Venghateri et al., PLoS ONE (2013) 8:e75182

Vinblastine – Pink sticksAnsamitocin – Brown sticksMaytansine – Blue sticks

AuristatinsPeptide Binding Site

MaytansinoidsVinca Binding Site

α tubulin chain – White/tan surfaceβ tubulin chain – Cyan surface

Molecular Docking to Tubulin

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LADR™ Efficacious in Large Tumor Models

0

100

200

300

400

500

600

700

800

0 10 20 30 40 50 60

Med

ian

Ab

solu

te T

um

or

Vo

lum

e (m

m3)

Days after randomization

LXFA 737 (NSCLC) Tumor volume ∼ 330 mm3

n = 8

Poster LADR 9 and 10

Auristatin LADR™(LADR-7 and LADR-8)

Maytansinoid LADR™(LADR-9 and LADR-10)

Pes et al., Journal of Controlled Release (2019) 296:81

A2780 (Ovarian)Tumor volume ~ 350 mm3

n = 8

Comparator ~ 1/8 LADRTM doseComparator ~ 1/10 LADRTM dose

†

*

Dose administration

Premature deathTumor burdenPremature deathEuthanized due to skin toxicology

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Auristatin and Maytansinoid LADR™s Are Efficacious in Different Xenograft Tumor Models

Pes et al., Journal of Controlled Release (2019) 296:81 and Supplemental Material; Poster LADR 9 and 10

Breast

Head and Neck

Melanoma

NSCLC (lung)

Ovarian

Renal

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LADRTM Proof of Concept

Aldoxorubicin

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First Generation Aldoxorubicin Results Doxorubicin: approved life-time dose 550 mg/m2 due to

cardiomyopathy

Aldoxorubicin cumulative doxorubicin equivalent dose at the time of the primary efficacy analysis was up to 7,800 mg/m2 with no dose limiting cardiac adverse events

Aldoxorubicin in Global Phase 3 – Investigator Choice relapsed or refractory to >1 regimen of prior non-adjuvant chemotherapy, metastatic, locally advanced, or unresectable soft tissue sarcomas did not meet primary endpoint (PFS). US, Canada, & Australia (72% of the patients with soft tissue

sarcoma) statistically significant [p=0.0276, Hazard ratio (95% Confidence Interval) = 0.71 (0.53, 0.97)]

Europe and Latin America: Not significant

Aldoxorubicin was licensed to ImmunityBio

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Aldoxorubicin: LADRTM Prototype

Safety Aldoxorubicin can be administrated at 10-fold or higher dosage

compared with doxorubicin LADRTM can be administrated at ~6- to 10-fold higher dosage

compared with auristatin E or maytansine (xenograft data)

Efficacy Aldoxorubicin is efficacious in clinical trials. If aldoxorubicin

was only carried to the tumor by albumin and never released, then no efficacy would have been observed in clinical trials.

LADRTM is efficacious in animal models and superior to the payload given alone

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ACDx

Albumin Companion Diagnostic

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Test Advantages

Increases The Likelihood For Efficacy (Enriched Population)

Shortens The Timeline For Development

Combined With a Therapeutic –Targeted Therapy (Precision Medicine)

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111InN

NO

O

N

HO

O

O

O

OHO

O O NH

O

N

O

O

ACDx Agent 111In-C4-DTPA

111In-C4-DTPA111In is aγ-emittingradionuclide

• Fast binding to cysteine-34 of albumin• High radiolabeling efficiency with 111indium as

the radionuclide• High stability of the imaging diagnostic

Albumin-bindingmaleimide group

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Preclinical SPECT/CT Imaging With 111In-C4-DTPAEstablish methodology in human tumor xenograft models

Study outline: Bilateral implantation TV ~100‒300 mm3 (left and

right flank) 4 mice

~40 min

~2 min

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SPECT/CT Identifies ACDx-Labeled Albumin in Tumor-Bearing Nude Mice

Representative 3D SPECT/CT image after 72 h

Distinct accumulation of albumin in the s.c.

tumors

Kidneys are visible as the organs of elimination

Model: LXFL529 (NSCLC)

3D Spect/CT image

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ACDx and LADRTM

Summary

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ACDx & LADRTM Target Solid Tumors

ACDx (diagnostic) Identifies Tumor Candidates That Accumulate Albumin Targeted Solid Tumor Characteristics (EPR Effect) Increased vascularity Abnormal local lymphatic system High albumin concentration Acidic local tissue and intracellular environment LADRTM Exploits These Solid Tumor Characteristics Injected LADRTM drug links itself to albumin to form a Trojan horse

that hides the drug toxicity while in circulation Albumin-LADRTM drug complex is brought to the cancer through the

vascular system and the abnormal local lymphatic system traps it in the tumor

The acidic tumor environment releases the drug from the LADRTMlinker

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ACDx and LADRTM Advantages

Applicable to treat a broad array of solid tumors Targets cancer cells based on tumor pathophysiology Does not target a specific cell receptor or antigen

Higher doses of toxic drugs can be administered safely using LADRTM platform to achieve efficacy Therapeutic Target: Cancer cells

Benefit: Protects normal cells from the toxic payload

Compared to ADCs, a larger number of patients are candidates for this therapy because the presence of a specific antigen is not required

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Centurion BioPharma Pipeline ACDx and four ultra high potency LADR™ drugs were selected for development Non-GMP batches made and next step is technology transfer to make GMP material IND enabling studies can be initiated for 4 lead candidates. An IND submission is

targeted for 2021 and starting of our Phase 1-2 clinical trial in the first half of 2022. Long term patent protection (2035-2038) for LADR™ technology, drug candidates,

and diagnostic

LADR™ Albumin Binding Drug Conjugates

Preclinical Phase 1 Phase 2

Auristatin ProgramLADR-7LADR-8

Maytansinoid ProgramLADR-9LADR-10

Companion Diagnostic –ACDx identifies patients across solid tumors which have the potential to respond

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Management

Gail L. Brown, M.D., M.B.A., Chief Medical OfficerIn 2014, Dr. Brown founded The Brown Group, LLC providing services in clinical research, regulatory affairs, DMC and financial services to biotechnology companies. She has advised the following companies: Tularik, Abgenics, Cell Genesys, Onyx Pharmaceuticals, Versicor and Gilead Sciences.

Dr. Brown served as chief medical officer at Telik, Inc., and ARMO BioSciences. She served as Senior Medical Director at AbbVie and worked on the Venetoclax hematological malignancies programs. She has 25 years experience in early stage clinical drug development and launched international registrational trials in solid tumors and hematologic malignancies.

Dr. Brown served on the faculty at Harvard Medical School Department of Medicine, Division of Hematology and Oncology. She holds an M.D. degree from the University of Rochester School of Medicine and an M.B.A. degree from St. Mary's College of California.

John Y. Caloz, Chief Financial OfficerMr. Caloz served as Chief Financial Officer of Occulogix, Inc, a NASDAQ listed medical therapy company and Chief Financial Officer of IRIS International Inc., a Chatsworth, CA based medical device manufacturer. He also served as Chief Financial Officer of San Francisco-based Synarc, Inc., a medical imaging company, and SVP, Finance and Chief Financial Officer of Phoenix International Life Sciences Inc., a CRO. Mr. Caloz, a Canadian citizen, is a licensed Chartered Accountant in Canada and a graduate of York University, in Toronto, Canada.

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Development and Regulatory OutsourcingHurley Consulting Associates Ltd.Since 1987 Hurley Consulting Associates Ltd. has been providing drug development consulting and services including CMC, nonclinical and clinical program support, technical writing, QA/QC functions, and submission preparation for FDA and other regulatory authorities. The company acts as the U.S. agent and authorized representative for regulated products for the entire IND through NDA process and post-approval regulatory matters including regulatory strategy, Health Authority negotiations, and application approvals. Hurley Consulting has prepared or contributed to over 60 applications and prepared over 50 FDA Meeting Requests, Briefing Books, and participated in the meetings.

Hurley Consulting has worked with the company in oncology since 2015. The Hurley Consulting pharmacology, toxicology, CMC, and regulatory staff performed a detailed assessment of the work performed at Centurion BioPharma in 2017 – 2020 for the LADRTMProgram.

Margaret E. Hurley, M.D., FRAPS, President and CEOMargaret E. Hurley, M.D., a recognized expert in drug development, founded Hurley Consulting in 1987. As President and Chief Executive Officer, she is responsible for the general management of the company known for its analytical thinking.

Dr. Hurley was Director, Cardiovascular Drug Development at Ciba-Geigy (now Novartis) from 1983 to 1987. Before entering the pharmaceutical industry, Dr. Hurley was the Medical Director of the Hemodialysis Unit at Bellevue Hospital Center, New York and a member of the faculty at New York University Medical Center. She was a National Kidney Foundation Fellow and did her internalmedicine and nephrology training at NYU. Dr. Hurley holds a medical degree from The Medical College of Pennsylvania in Philadelphia, Pennsylvania, and a bachelor’s degree in chemistry from Fordham University. In 2010 Dr. Hurley became a Fellow of the Regulatory Affairs Professional Society in recognition of her professional achievements.

Charles G. Garlisi, Ph.D.Charles Garlisi, Ph.D., joined Hurley Consulting in 2016 as Vice President, Scientific Affairs. He has over twenty-five years’ pharmaceutical industry experience in multiple therapeutic areas (immunology, allergy, inflammation, and infectious diseases). His project experience includes target identification to clinical development and through marketing application. At Hurley Consulting Dr. Garlisi has been responsible for nonclinical programs in several therapeutic areas including oncology and diagnostics.

Dr. Garlisi was a Director of In Vitro Pharmacology at Merck Research Laboratories. He holds a doctoral degree in biochemistry from The Pennsylvania State University and a bachelor’s degree in biology from St. Francis College, Brooklyn, NY. He has authored or co-authored over 50 journal articles, and has presented at many professional conferences.

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Board of Directors

Louis J. Ignarro, Ph.D, Chairman of the Board Dr. Ignarro received the Nobel Prize for Medicine in 1998 and is the co-founder of Centurion BioPharma Corporation. He served as the Jerome J. Belzer, M.D. Professor Emeritus in the Department of Molecular and Medical Pharmacology at the UCLA School of Medicine. Dr. Ignarro had been at the UCLA School of Medicine since 1985 as a professor, acting chairman and assistant dean.

Steven A. Kriegsman, Executive ChairmanMr. Kriegsman has been Centurion BioPharma Corporation's Executive Chairman and a director since its formation. He is the co-founder of Centurion. Mr. Kriegsman was formerly a Certified Public Accountant with KPMG in New York City. In February 2006, Mr. Kriegsman received the Corporate Philanthropist of the Year Award from the Greater Los Angeles Chapter of the ALS Association and in October 2006, he received the Lou Gehrig Memorial Corporate Award from the Muscular Dystrophy Association.

Joel K. Caldwell, Chairman Audit CommitteeMr. Caldwell is an expert in Corporate Finance, Internal Audits, Executive Compensation, Long Term Finance, Employee Benefits and Sarbanes-Oxley Internal Controls Compliance. He previously worked for the international CPA firm Arthur Andersen & Co. Mr. Caldwell is a Certified Public Accountant.

Richard J. Kogan, Senior Advisor to the Board Mr. Kogan was formerly Chairman and CEO of Schering-Plough Corporation and Chairman of the International Pharmaceutical Manufacturers Association. He also served as a Board Member of Colgate-Palmolive Company, The Bank of New York, and as Chairman of the Board of Saint Barnabas Medical Center.

Corporate Overview�www.centurionbiopharma.comCenturion Biopharma HighlightsCenturion’s Technology PlatformLADRTM Target Product ProfileSlide Number 5Albumin: Targeting Delivery VehicleAlbumin Accumulates in TumorsLADRTM: Enhanced Permeability and Retention of AlbuminSlide Number 9Linker Activated Drug Release (LADRTM) PlatformLADR™ Mechanism of ActionNatural Toxin Tubulin BindersTubulin Forms MicrotubulesToxins Inhibit Tubulin PolymerizationSlide Number 15Slide Number 16Slide Number 17First Generation �Aldoxorubicin ResultsAldoxorubicin: LADRTM PrototypeSlide Number 20Test AdvantagesACDx Agent 111In-C4-DTPA Preclinical SPECT/CT Imaging With 111In-C4-DTPA SPECT/CT Identifies ACDx-Labeled Albumin in Tumor-Bearing Nude Mice Slide Number 25ACDx & LADRTM Target Solid TumorsACDx and LADRTM AdvantagesCenturion BioPharma PipelineManagementDevelopment and Regulatory OutsourcingBoard of Directors