WE SUPPORT FROM SCIENCE TO STOCK EXCHANGE

CORPORATE FINANCE & BUSINESS DEVELOPMENT IN HEALTHCARE

2 SENIOR ASSOCIATES = 4 LOW COST OFFERS INCLUDING 4 HIGH VALUE ADDED SERVICES

( executive corporate & business development, PE fundraising, IPO & IR , corporate PR, healthcare intelligence database)

SUPPORTING CBO+CFO FUNCTIONSFOR BIOTECH & PHARMA START-UP

WE SUPPORT FROM SCIENCE TO STOCK EXCHANGE

BRING CASH + REDUCE COSTS + BUILD VALUEfor biotech / pharma / medtech / CRO / Private Equity

OUR DEDICATED SUPPORTS TO HEALTHCARE SMEs COVERING CBO & CFO FUNCTIONS

• BRING CASH : through R&D partnering + M&S + Business Development & Licensing deals + through financing deals ( from seed capital to IPO, M&A & follow-on financing)

• REDUCE COSTS : reduce your payroll thanks to our low cost fees : get CBO & CFO-level supports from 2 full-time & dedicated senior associates for the full cost of a young graduate .

• BUILD VALUE : by leveraging our assets :BIOTECHNEWS® = corporate & PR news services covering the life sciences market targeting our large contact database (39K healthcare dealmakers, +3000 investment bankers, +2900 biotech VC, +6000 BA , family offices & investors, +3500 tech journalists)BIOFOCUS® = +20Go data analysis & market intelligence databases focused on healthcare marketBIOPHARMACAPITAL® = fundraising & Investor Relation support for biotech & pharma SMEsTRACK RECORD = +100 deals since 99 : BD & licensing, IPOs, Financing, M&A and +32 missions since 2006NETWORK = +6000 investors and +39 000 dealmakers in our contact database, +55 000 through linkedinBACKGROUND = 2 senior associates , pharma PhD+ MS, 10 years in private equity + 10 years in biotech BD


4 DEDICATED OFFERS FOR BIOTECH START-UPActing as outsourced integrated CBO+CFO or Executive sherpa for C-level managers

OFFER 1: FULL TIME & FULLY DEDICATED CBO+CFO : monthly fees of 12 000 € before VAT = the full cost of a fixed term employee contract under pharma legal labor agreement with an annual gross salary of 45K€.

OFFER 2 : PART TIME & SHARED CBO+CFO : for up to 2 non-competitive clients maximum in parallel : monthly fees of 8 000 € = the full cost of a fixed term employee contract with an annual gross salary of 35K€

OFFER 3 : PART TIME & SHARED CBO+CFO : for up to 4 clients max in parallel : monthly fees of 6 000 €

OFFER 4: FUNDRAISER : monthly retainer of 5 000 € completed by a success fees as follows :5% on the first tranche up to 2 millions, including a minimum of € 60,000 before tax supplemented by4% on the tranche over 2 millions supplemented by3% on the tranche over 3 millions supplemented by2% on the tranche over 4 millions. «success fees is calculated after deduction of the 60 000 € retainer »

Offer 1 & 2 = without any additional fees, Tim Muller can join the executive board in order to secure the current and next financing round.Minimum duration : 12 months in order to be aligned with main client milestones, then renewable. Price ishigher with shorter duration.


Tim MULLER snapshot resume : Pharma PhD, MS finance, MS management

10 years as private equity investor & 10 years as business developer both in healthcare, with IPO andM&A track record : After a first R&D experience on radiopharmaceuticals at AREVA R&D (CEA/IPSN) in 1993, Tim

worked as a R&D pharmacochemist for the pharmaceutical industry (SERVIER) during 5 years on diabetes mellitus & CNS.In 99, Tim joined the private equity industry (CDC enterprises & Sofimac Partners) investing in 17 healthcare companies(8 were acquired by industrials & 5 IPOs) from his 600 deal flow proactively sourced & screened. In 2006, Tim foundedSCIENTEX, a healthcare dedicated advisory & transition management firm focused on business & corporatedevelopment, M&A (buy & sell side), while he was advising wealthy individuals on VIX trading & working with primary &secondary private equity funds. Since 2008, Tim led the business development activities of several biotech & pharma ashead of M&A for Pharma Omnium, VP Bus Dev of Cytune Pharma & of Tetrahedron and head of BD for the CRO Kymos.Tim joined CROSSJECT in 2012 during its restart in order to transform its ZENEO based medtech business modelpresenting a 2M€ valuation into an Euronext listed specialty pharma (IPO in feb 14 valued 65M€). After the successfulcompletion of a 472M$ ww R&D partnering deal on ZENEO epinephrin; Tim, acting as CBO & member of the executiveboard, led & drove the $6M refinancing closed in june 2013 while managing M&A opportunities. Tim initiated & engagedthe IPO process, successfully oversubscribed 4,4 x in feb 2014 & negotiated 2 out-licensing deals for ZENEO MTX coveringChina valuated 360M€ including 25% royalties & covering Indian regions including royalties between 20% to 40%. ForCROSSJECT, Tim was fully dedicated, full time, home based & commuting with 40% of ww travel and negotiated 8 termsheets. During 2016, Tim performed +300 commercial meetings on a ww basis and met 250 investors. Complementary,thanks to its broad healthcare database, SCIENTEX was also mandated to screen the 907 injectable drugs in order todouble CROSSJECT’s R&D portfolio : 200 injectables were ZENEO compatibles and 5 products have been selected andhighlighted by SCIENTEX supporting the 6,7M euros grant from BPI/PIAVE. Globally, Tim has been involved in +100corporate & business transactions, on sell & buy side, including 5 IPOs, 9 M&A, 8 out-licensing deals, 29 commercialdeals, 28 financing deals with a worldwide coverage. Tim was board member for 26 companies since 1999.


COST COMPETITIVITY of SCIENTEX fees versus FTE

What is the real full cost of an employee **?

Make your own calculations by changing numbers in blue cases. ** validated with leading Contract Sales Organizations

What is the full cost of your employee ?

Salary taxes in the French system (in % of the gross annual salary)

LEGAL RISK ALLOWANCE FOR FIXED-TERM CONTRACT 10%

ANNUAL PAID LEAVE & PUBLIC HOLIDAYS & SICK LEAVE WORK21,6%

LEGAL SALARY TAXES ON GROSS SALARY : 48%-62% 48%

SOFT CHARGES (Car, mobile & PC, restaurant tickets) in € 9160

DESK RENT for 15m2 2700

RECRUITMENT COST 15%

LEGAL 13th month's salary (pharma working agreement) 8,3%

IMPUT YOUR GROSS SALARY BUDGET HERE in blue case in euros : 45 000

FULL ANNUAL SALARY COST ALL CHARGES & TAXES INCLUDED 112 705

As a conclusion, for a company, the full annual cost of an employee with an annual gross salary of 45 000 euros

is in fact, including all taxes and charges , paid leave, risk allowance and recruitment costs closed to € 112 705

GROSS ANNUAL SALARY FULL COST FACTOR

60 000 146 000 2,43

80 000 190 000 2,38

100 000 235 000 2,35

A typical day of a manager in Paris SCIENTEX : a typical home office day

From wake up to office From wake up to office: 1h, school is 5 minutes by walk

7h00-9h30 A working day

a working day 8h20-19h00

9h30-12h30 + 14h00-18h30 lunch

lunch 30 minutes

12h30-14h00 Office = home and children come back to school in 5 minutes

Back to home+ children 0h

18h30-19h30 1 coffee break in a day = 10 minutes

2 coffee breaks in a day = 15 minutes closed & holidays : 18 days per year so 243 days worked

closed & holidays : 45 days per year so 211 days worked total of hours effectively worked = 2430h/year

total of hours effectively worked = 1529h/year so SCIENTEX is + 59%

example : 45 000 euros is the

average gross annual salary of a

young graduate first job engineer

15% with human ressources in house, 25 % with

recruitment agency and up to 35% with head hunters

BASED ON 9 WEEKS (45 days) OF HOLIDAYS PER YEAR + 17

DAYS OF SICK LEAVE WORK AVERAGE IN FR = 250 OPEN

BUSINESS DAYS

COST OF CAR SERVICE: 300 euros per month (LLD)

MOBILE COST with ww mobile internet : 40 euros / month

RESTAURANT TICKETS : 5 euros per business days

MOBILE PC & SOFTWARE : 500+500 euros per year

HEALTH & RETIREMENT INSURANCE : 2000+800 €/year

1 m2 = 15 euros per month

4 SERVICES COVERING CORPORATE AFFAIRS :private equity financing, IPO & follow-on, M&A, IR, BusDev & Licensing, R&D partnering

1. SCIENTEX : consultancy & transition and executive management firm, focused on corporate finance and business development in healthcare; holding of billing, thus avoiding high costs, heaviness, sick leaves, holidays and constraints of the french pharma labor agreement

2. BIOPHARMAcapital : contact database with + 6000 contacts inside public & private equity, familly office and business angels, +2900 biotech VC ww.

3. BIOfocus : healthcare database (+20Go), built from main leading market intelligence providers and investment banks.

4. BIOTECHnews : corporate and PR news push services dedicated to the life sciences market and targeting 39 000 healthcare dealmakers (pharmaceutical, biotech, investment banks)

Leverage the track record of the 2 associates : Working with the 2 SCIENTEX'associates will cost you the same full cost of a young graduatefixed term contract (average gross salary 45K€/y FTE) so around 10K€/month VAT excluded on afull time basis : 1 associate focused in front office commuting and facing clients & investorswhile the second associate is supporting in back office

Supporting CBO & CFO functions for biotech & pharma

TRACK RECORD of Scientex’s associates since 1999 :

+100 deals = sell & buy side, including 5 IPOs (4 as investor, 1 as executive board member),9 M&A, 8 out-licensing, 29 commercial , 28 financing+32 missions during the last 10 years generating +2,5M€ of net fees for SCIENTEX.26 board member position since 1999+600 BP sourced & screened as VC & venture partner, 17 private equity investments in lifesciencesHuge network : +6000 investors (public & private & family offices), +1200 wealthyindividuals & +39 000 biopharma dealmakers, 2900 biotech VC ww, +3500 tech journalists,+55 000 followers & contacts through linkedinHealthcare database >20Go, built from leading market intelligence providers & investmentbanksBackground of the 2 associates : MBA & pharma PhD background with 20 years insideEuropean private equity funds, biotech and mid-size pharmaceutical industry.

SCIENTEX CLIENTS SINCE 2006 : +30 missions

CROSSJECT case study : 19 months to transfom a private start-up medtech into an Euronext listed specialty pharma

The 2 associates of SCIENTEX recently realized a dual track mission for Crossject, stronglysupporting its tech founding CEO by covering CFO&CBO functions from 2012 to 2018.

SCIENTEX joined CROSSJECT mid 2012 (9 FTE) during its restart in order to transform its devicebased private start-up medtech business model presenting a 2M€ valuation into an Euronextlisted specialty pharma (IPO in feb 14 valued €65M & €17M raised). After the successfulcompletion of a 472M$ ww out-licensing deal on ZENEO epinephrine in Q1-2013; Tim, as ChiefBusiness Officer & member of the executive board, led & drove the €5M refinancing closed inmay 2013 while managing M&A opportunities. Tim initiated & engaged the IPO process,successfully oversubscribed 4,4 x in feb 2014 & negotiated 2 out-licensing deals for ZENEO MTXcovering China valuated 360M€ including 25% royalties & covering Indian regions includingroyalties between 20% to 40%. For CROSSJECT, during 6 years, 70 FTE in 2018, Tim was fullydedicated and full time, home based & commuting with 40% of ww travel while driving businessdevelopment & licensing (+1000 face to face meetings in 6 years, 8 term sheets sourced,negotiated, signed & several deals fully negotiated). During 2016, Tim performed around 300commercial meetings on a ww basis and met 250 investors. Complementary, thanks to its broadhealthcare database, SCIENTEX has also been mandated to screen the 907 injectable drugs inorder to double CROSSJECT’s R&D portfolio : 200 injectables were ZENEO compatibles and 5products have been selected after beeing strongly recommended and highlighted by SCIENTEXsupporting the €6,7M grant from BPI/PIAVE.

CROSSJECT case study : How we revived its business development activities ?

In term of BD&L activities, we are almost 3 times more productive in meeting withindustrials & investors● ranked 1st at BIO USA june 2016 by the organizers thanks to +77 scheduled meetings

where only 15% of the 6322 other partnering delegates reached to have +25 meetings,● ranked 5th at BIOEUROPE 2016 with 50 1to1 meetings in 2,5 days, while the 3647delegates reached to have an average of 12 meetings/delegates

Since 2016, SCIENTEX received 10 business & corporate awards :

1. APRIL 2016 : Most Efficient Healthcare start-up business boutique in Europe, by ACQUISITION INTERNATIONAL, the voice of corporate finance

2. OCTOBER 2016 for its excellence in corporate affairs support - France, by WEALTH& FINANCE international

3. JANUARY 2017 : European Life Sciences Business Boutique of the Year in Corporate LiveWire’s 2017 Innovation & Excellence Awards.

4. FEBRUARY 2017 : Most engaged & results driven Contract Business Development Organization in Europe by ACQUISITION INTERNATIONAL

5. MARCH 2017 for its excellence in international business management, by WEALTH& FINANCE international

6. MARCH 2018 : Best business development company in Europe, by ACQUISITION INTERNATIONAL, the voice of corporate finance

7. JUNE 2018: Efficient healthcare start-up business boutique of the year 2018 - FRANCE, by GLOBAL BUSINESS INSIGHT

8. APRIL 2019 : Most Efficient Healthcare start-up business boutique in Europe, by GLOBAL VENTURE AWARDS

9. September 2019 : European Business Development Boutique of the year in Healthcare, by ACQ5 Global awards

10. September 2019 : European Healthcare Business development professional of the year, by Global Corporate Livewire awards 2019

AWARDS

1. TRACK RECORD : +32 missions since 2006 & +100 various business & financing deals since1998 on both sell & buy sides from seed capital to public offerings, including 17 start-upfinanced as ex biotech VC (600 business plan screened) and M&A and BusDev & licensing &R&D partnering

2. BIOPHARMA BUSINESS RECOGNITION : 10 Business awards received to date, including"Best Business Development Company in Europe" in march 2018 : seehttp://www.scientex.eu/awards/

3. MISSION FOCUS : Biotech & pharma only focused on business development & financingactivities = private equity financing, IPO & follow-on, M&A, IR, BusDev & Licensing, R&Dpartnering

4. LOW COST FEES : Working with the 2 SCIENTEX'associate will cost you the same full cost of ayoung graduate fixed term contract (average gross salary 45K€/y FTE) so around12K€/month VAT excluded on a full time basis : 1 in front office facing clients and 1 in backoffice in order to keep momentum.

5. VERY STRONG SUPPORT = 2430 HOURS WORKED per year : SCIENTEX's support is +59%compared with the 1529h/year of a full time employee under the french pharmaceuticallegal labor agreement. As an example, we reached our maximum capacity in 2016 with 300business meeting with pharma industrials & 250 investors met on a ww basis.

TOP 10 REASONS to use Scientex associate's

http://www.scientex.eu/awards

6. HUGE NETWORK : +6000 investors & +39 000 biopharma dealmakers on a ww basis in ourcontact database, +3500 tech journalists, +55 000 followers & contacts through linkedin,audience reachable > 4 millions through 100 linkedin healthcare & investors groupsmemberships.

7. HEALTHCARE DATABASE INCLUDED : +20 Go data analysis & market intelligence databasefocused on healthcare markets including all pipeline/product forecast/epidemiology/KOLinsights/ competition analysis... on any therapeutic areas. Our database is built &downloaded from leading market intelligence providers & investment banks.

8. DEDICATED & FULL TIME : SCIENTEX' associates are working exclusively, dedicatedly & on afull time basis for one single client only with a worldwide coverage without any outsourcingto juniors.

9. 20 years BACKGROUND : SCIENTEX'associates have both Master specialized & pharma PhDbackground with a career inside european private equity funds, biotech and mid-sizepharmaceutical industry.

10. FLEXIBLE & INTENSIVE SUPPORT : Working with SCIENTEX'associates is the best way toremove huge costs & constraints & sick leaves & holidays of french labor legal agreement :only one week of holidays per year (in winter) and less than 15 sick days in 20 years.

TOP 10 REASONS to use Scientex associate's

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WE SUPPORT FROM SCIENCE TO STOCK EXCHANGE