Treating the root cause

of autoimmune disease TM

Corporate Presentation
December 2022
Executive Summary
Disease modifying, multi-target therapeutics for oral treatment of chronic inflammatory disease

• Clinical stage company developing oral, disease-modifying therapeutics for the

treatment of chronic inflammatory disease

• First-in-class immunomodulator in Phase 1b for oral treatment of psoriasis

• Promising Phase 1a results demonstrated superior efficacy and safety, as well as
durability of effect

• Phase 1b: Formula optimization in 30 psoriasis subjects is underway, readout in Q1 2023

• Phase 2: Determine PASI & IGA scores in 60 subjects for 6-month treatment; design
reviewed by FDA

• Patented drugs that act on multiple therapeutic pathways, including NF-kβ and
cytokine signaling, multi-channel cascades affecting gene expression, and Treg
differentiation

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PASI: Psoriasis Area and Severity Index; IGA: Investigator's Global Assessment
Leadership Team
Experienced team with over 40 drugs developed, ten prior exits, and over $600M in prior raises

Ira C. Spector, PhD, MBA James Kirwin, MBA

CEO, Co-Founder COO, Head of Clinical Operations

Mark Feitelson, PhD Shawn P. O’Brien

CSO, Co-Founder Chairman

Alla Arzumanyan, PhD Rob Dickey, IV

CDO, Co-Founder CFO

King Lee, PhD

VP, Regulatory Affairs

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Advisory Team
Scientific and business advisors with deep expertise in psoriasis and other disease markets
Scientific Advisors Business Advisors
Sylvia Hsu, MD Professor and Chair, Dermatology, Temple University Craig Kenesky, JD, PhD IP Counsel, Wilson Sonsini Goodrich
& Rosati
Senior Consultant at Princeton Dermatology Corporate Counsel, DLA-Piper
Andrew Gilbert, JD
Daniel Sauder, MD Associates, Prior Chair, Dept. Dermatology at John
Hopkins and University of Toronto
Jordan Warshafsky, MBA Business/HR Advisor, Ashton Tweed
Director, Professor of Dermatology and
Epidemiology, Vice Chair of Clinical Research,
Joel Gelfand, MD, MSCE Medical Director of Clinical Studies Unit in the Angela Lynch, PhD Scientific Advisor, Toxicology
Department of Dermatology, UPenn
Raxit Mehta, M.C.E Formulation Advisor
Chris Gallen, MD, PhD CEO, WEX Pharmaceuticals

Joseph Camardo, MD
Satdarshan Monga, MD
CMO, ADC Therapeutics; Chair, Board of MaliHealth Kate Hermans, MBA Commercialization Planning
Member of Scientific Advisory Committee at DNDi
Director, Vice Chair, and Chief, Pittsburgh Liver Sri Sriadibhatla, PhD Ben Franklin Technology Partners,
Research Center, Division of Experimental Pathology, Board Observer
University of Pittsburgh

Todd Abrams, PhD Director, New Ventures and

Brent Korba, PhD Professor, Georgetown University Medical Center
Business Development, Temple
University, Board Observer
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DNDi: Drugs for Neglected Diseases initiative
SFA Therapeutics Pipeline
Pipeline in autoimmune diseases, liver diseases and oncology
Preclinical Phase 1 Phase 2 Phase 3

Autoimmune Diseases (Psoriasis)

FDA path to a Phase 2 Clinical Trial

Oncology (HCC)
FDA Orphan Drug Designation for HCC
NASH (fibrosis)
Phase 1b: IND filed for upcoming clinical trial in NASH

Oncology (CLL & AML Relapse)

CAR-T adjuvant

Other Autoimmune-related Indications

AML: Acute Myeloid Leukemia; CLL: Chronic Lymphocytic Leukemia; HCC: Hepatocellular Carcinoma; NASH: Nonalcoholic Steatohepatitis 5
Limitations of Current Autoimmune Therapies
Marketed autoimmune therapies are limited by single / dual target approach and safety

Mono / Dual Current therapies are mono or dual targeted, while autoimmune
Targeted diseases (including psoriasis) involve multiple targets

Treats No disease-modifying drugs in the market; available options

Symptoms treat symptoms, SFA-002 has potential to treat disease

Safety Most current therapies for autoimmune diseases (including

Concerns psoriasis) are associated with serious side effects

Current systemic therapies are expensive and not always

High Cost affordable, while SFA-002 has low cost

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Overview of Lead Program: SFA-002
Potential first-in-class oral therapy with compelling preliminary clinical results in a Phase 1a

Oral Pill
small molecule with proprietary formulation

Immunomodulator
that returns the immune system to normal
by affecting multiple psoriasis targets

Disease-Modifying
targets the root cause of autoimmune disease
and has the potential to treat multiple
autoimmune diseases

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SFA-002’s MOA Overview in Psoriasis
SFA-002 affects multiple cellular signaling pathways that are critical in the pathogenesis of psoriasis

Mechanisms of Action

- Acts on multiple therapeutic

pathways
- Inhibits several pro-
inflammatory cytokines (IL-17,
IL-23, TNF-α, and IFN-y)
- Inhibits HDAC to increase Treg
differentiation (thus up-
regulates anti-inflammatory
IL-10)

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Signalling Pathways are Well-Understood
SFA Technology modulates multiple cellular signaling pathways involved in autoimmune diseases

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SFA-002’s Compelling Preliminary Clinical Results
Phase 1a data in psoriasis patients strongly validates SFA’s novel oral and multi-targeted approach

Superior Efficacy Excellent Safety Durability of Effect

Clinically significant efficacy No adverse events in all 6 Durable response achieved in

compared to current SOC with Psoriasis patients treated in 2 patients who remain
PASI 90 score the Phase 1a trial off treatment

PASI: Psoriasis Area and Severity Index 10

SFA-002 Significantly Reduces Psoriasis Lesions
Durable response achieved in severe psoriasis patient
Patient 1 with severe
psoriasis for >25 years
Before SFA-002 ✓ Clinically significant
Treatment reduction of psoriasis
lesions
• PASI 90

✓ No adverse events

✓ Durable response
Off Treatment
>1 Year • Patient remains off
treatment for >1 year
with no return of
symptoms
PASI: Psoriasis Area and Severity Index 11
Compelling Clinical Results in Difficult to Treat Areas
Durable response achieved in patient with hand and scalp psoriasis

Patient 6 with moderate psoriasis,

hand and scalp
Before SFA-002
Treatment ✓ Clinically significant reduction
of psoriasis lesions
• PASI 95

✓ No adverse events

✓ Durable response
SFA-002 Treatment
• Patient remains off
at 6 Months
treatment for >1.5 years with
no return of symptoms

PASI: Psoriasis Area and Severity Index 12

Phase 1a Proof of Activity Data
Preliminary data demonstrate significant clearance and no adverse events in all 6 patients
Subject Characteristics Psoriasis Conditions Study Data
Race / Concomitant Years of Treatment PASI Adverse
Subject Age Sex Co-Morbidities Type Severity
Country Medications Disease Duration Score Events

Caucasian/ LosapPlus1 pill daily >5 years

1 79 F Unknown Plaque Psoriasis Severe 25 90 None
Ukraine (started in 2016) (ongoing)

Caucasian/
2 48 M None Alcohol Plaque Psoriasis Severe 15 28 days 80 None
Ukraine
Hypertension,
Caucasian Losap for
3 72 M Stage 3 (8 yrs); Plaque Psoriasis Mild 15 31 days 80 None
Ukraine hypertension
Asthma (12 yrs)

Caucasian/ Insulin Resistance Birth control pills,

4 25 F Plaque Psoriasis Mild 7 16 days 95 None
USA (unknown duration) Metformin

None for >3 months

before, during and >2 Plaque &
Caucasian/ Type 2 Diabetes
5 56 M months after Seborrhea Severe 36 45 days 85 None
UAE (unknown duration)
investigational Psoriasis
treatment
Caucasian/ Plaque Ongoing
6 26 F None None Moderate 1 95 None
USA Psoriasis photo at 6 months

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Phase 1b Clinical Trial Design
Two combinations will be evaluated for safety and efficacy in 30 subjects

Cohort 1: 15 subjects on Combination 1 from Phase 1a

Cohort 2: 15 subjects on Combination 2 with potential for faster onset and higher efficacy
Cytokine levels will be measured as efficacy markers
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SFA-002 Competitive Positioning
SFA-002 is well-positioned to become a first-in-class oral immunomodulatory therapy for psoriasis

Injectable
PASI 75
Oral
Brands / Assets

Stelara
PASI 90-100
BAT2206
AK101
Humira
Biosimilars Remicade
Enbrel
DMB-3116 Cosentyx Skyrizi
ABP-654 SCT-630 Siliq Tremfaya
FYB-202 Taltz
SB-17 Biosimilars: Otezla; Deucravaci- AUR-101; IBI-112 ABY-035
CT-P43 ABP-501 608* Orismilast* tinib (BMS); cedirogant- Mirikizu- AK-111
AVT-04 301s BCD-085 Hemay-005 NDI-034858 (ABBV-157) Ilumya Cimzia CF-101 Jaktinib KBL-697 SCD-044 mab SHR-1314 Bimzelx SFA-002

PEG-TNF-⍺
TNF-⍺
IL-12, IL-23

PDE-4

IL-17A, IL-23, TNF-

IL-17A

IL-23A

IL-17F, IL-17A
TYK2

A3AR agonist

S1P1a

IL-23A

IL-17A
JAK 1/2

Lactobacillus
RORγt

gasseri

⍺, IFN-γ
SFA-002 is the only oral immunomodulatory therapy with the potential to achieve PASI 90–100
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SFA-002’s Strong Multi-Target Engagement
SFA-002 demonstrated significant response in human ex vivo skin psoriasis model
TNF-α IL-23
• SFA-002 demonstrated
better responses compared
to Otezla

• SFA-002 showed inhibition

across all 6 tested cytokines,
whereas Otezla inhibited 3
IFN-γ IL-17A IL-22 cytokines and was ineffective
for TNF-α, IL-21, and IL-23

• Surprisingly, Otezla
significantly upregulated
TNF-α in comparison to
untreated control

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SFA-002’s Strong Improvement in Murine Psoriasis Model
SFA-002 significantly decreased psoriasis severity in the murine IMQ-psoriasis model

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SFA-002 Downregulated TNF-α in the LPS Murine Model
SFA-002 rapidly reduced plasma TNF-α within 26 hours in the LPS animal model of inflammation

Plasma TNF-α

• SFA-002 showed significant and rapid

downregulation of TNF-α within 26 hours following
treatment

• Biologics can take up to 6 months to show clinical

effects in patients, and Otezla can take up to a year

• SFA-002 has the potential to be a fast-acting drug

Plasma TNF-α measured by commercially available ELISA. Data are mean (+/ -) SEM and analyzed by one-way
ANOVA with fisher’s uncorrected LSD test (*P<0.05, ***P<0.001, Compared to VEH/LPS group, n=8/group) 18
Intellectual Property and CMC
Robust patent portfolio including composition of matter and methods of use

IND authorized in 2020 following strong in vivo and in vitro data

Drug manufacturer under contract and analytical methods developed

Phase 1b is underway and Phase 2 protocol has been reviewed by FDA

Global patent strategy includes 10 issued and 38 pending patents in 12

countries

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Key Investors and Collaborators
Industry validating investors and academic partnerships

Investors Academic Partnerships

ASYMMETRY

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SFA-002 Development Plan and Use of Proceeds
SFA is seeking a $25 M raise to accelerate the clinical development of SFA-002

2021 2022 2023 2024 Budget Estimates

Phase 1B Studies1 Funded

Phase 2 Study2 $3 M

Two-Species Tox Study $1 M

Formulation Optimization $1 M

Manufacturing / Analytic Methods $1 M

Bioequivalence & Dose-Ranging $1 M

Commercial Development Program $1 M

Other Costs (i.e., IP protection, milestone payments, reserves, Phase 3 estimate) $17 M

1 Phase 1B Studies: 30 subjects to optimize formulation, 2 cohorts of 15 subjects

2 Phase 2 Study: 75 subjects over 6 months, designed to determine PASI & IGA scores, validate efficacy 21
Investment Opportunity
Treating the Root Cause of Autoimmune DiseaseTM
Differentiated First-in-class Strong Corporate
Multi-Targeting Platform Therapeutic Potential Positioning

SFA Platform designed to SFA002 program has Industry-leading team

overcome key unmet needs exhibited differentiated with robust IP portfolio
by treating the root cause efficacy and safety, as well and strong fundraising
of autoimmune disease as durability of effect in history
Psoriasis patients

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Appendix
SFA-001 Delays Onset and Progression of Liver Cancer
HBxTg Transgenic Mice Treated with SFA001 Showed Delayed Onset and Progression of HCC

In mice bred with the gene for liver cancer, 50% of the treated
mice developed no tumors, the other 50% treated mice had
fewer and smaller tumors

Untreated Mouse Livers

SFA001 + - Reduction
No of total tumors 14 31 55%
No of mice 12 9 66%
No of tumors/
1.2 3.4 66.5
mouse
Ave. tumor
0.31 0.66 53%
diameter

Treated Mouse Livers

HBx transgenic mice (HBxTg) progressively develop hepatitis
and steatosis (4-6 mo), dysplasia/microscopic HCC (8-10 mo),
and multinodular macroscopic HCC (11-12mo)

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SFA-001 Reduces Tumor Growth and Cancer Cell Viability
SFA-001 Blocks Human Xenograft Liver Cancer Growth and Reduced Viability of Cancer Cells
SFA001 Treated Mouse Control Mouse
A B • Immunocompromised nude mice
were subcutaneously injected with
human liver cancer cells (Huh7X)

• SFA-001-treated (with low and high

doses) mice (A) had slower tumor
growth compared to controls (B)

Percent cell viability

Tumor volume*102MM3

• SFA-001 reduced viability of cancer

cell lines (Huh7X and Hep3BX) but
not viability of primary human
hepatocytes
Weeks of treatment SFA001 concentration

SFA-001 Received FDA Orphan Drug Designation for HCC

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