Ocean Biomediacal, Inc. · OTC:OCEA
Ocean Biomediacal — Aesther Healthcare Acquisition — SPAC Merger (November 2022)
36 slides from Ocean Biomediacal's SPAC merger presentation, Nov 1, 2022
Slide 1: Ocean Biomedical Company Overview
OCEAN BIOMEDICAL Sts Ss Ocean Biomediéal Company Overview: October 2022 2 & is Empowering Great Science. Accelerating Translation. Changing Medicine.
Slide 2: Disclaimer
This presentation, prepared by Ocean Biomedical, Inc. (“Ocean” or the “Company”), is solely for informational purposes and is strictly confidential. The forwarding of such information to third parties is prohibited unless Ocean Biomedical has granted express permission to do so. This presentation co
Slide 3: Aesther Healthcare Acquisition Corp.
it Aesther Healthcare Acqu' Corp. Aesther Healthcare is a serial special purpose acquisition company (SPAC) formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses Public/private marke
Slide 4: Key Transaction Highlights and Illustrative Sources & Uses
Key Transaction Highlights Illustrative Sources & Uses + Aesther Healthcare Acquisition Corp. (“AEHA”) has agreed to acquire Ocean | out Biomedical, Inc. (“OCEA”) at a purchase price of approximately $240M AEHA Cash in Trust? $21,420,000 * The proposed transaction structure includes access to backst
Slide 5: Innovative business model bridges the bench-to-bedside gap
Innovative business model bridges the ‘bench-to-bedside’ gap by accelerating the commercialization of innovative assets contained within research universities and medical centers Initial core portfolio in oncology, fibrosis, and infectious disease, all based on new target discoveries enabling first-
Slide 6: Management Team
OCEAN Elizabeth Ng . CEO, Director BiIOMARIN Proven biotechnology strategic leader aioetecti Devices, Marin Pharmaceutical, 9 MERCK Merck & Co, Gilead Sciences, Strategic Decisions Group @g GILEAD MBA Stanford, BS Massachusetts Institute of Technology i Dr. Jack A. Elias oe Penn Co-Founder, Chair of
Slide 7: Board of Directors
OCEAN Deputy Chairman and Senior Independent Director of Spire Healthcare and Gulf Keystone Petroleum, Executive career at 5.6. Warburg & Co, Morgan Stanley, Dresdner Kleinwort, TI Group ple, Terra Firma Capital Partners B. Sc. University of Warwick President R&D and CMO, Intercept; past President,
Slide 8: Ocean structure: parent company and subsidiaries
OCEAN Fibrosis Competitive Advantages* Oncology Sub Co. * Novel biological targets with strong and broad patent positions * Targets are ‘master- = ‘ia Sub Co. switches’ of disease and Parent Operating Company thus likely to work for * Sub co. oversight Infectious broader patient * Operational effici
Slide 9: Bridging the gap between research and patients
IND Enablement Clinical Development FDA Approval Commercial Launch 26,000/year invention disclosures* Patients with unmet medical needs $71B/year research expenditures* Pharma companies with dry pipelines Few cross the gap and reach the market * Driven by the goal of getting drugs to patients; Worki
Slide 10: Access to innovations and optimized commercialization pathways
Access to innovations Optimized from research O C E A N commercialization universities and medical . pathways... Parent Operating Company (to be publicly listed - NASDAQ:OCEA) centers... Portfolio oversight and operational efficiency for enhanced candidate development * Internal development all the
Slide 11: Ocean Differentiation
OCEAN Typical Options for Institutions/ Researchers License to pharma f Y LD Launch oF? a startup ws Incubate / Accelerate — Pharma prefers later-stage assets — Economic upside is limited — Upside only if ultimate product is based on licensed IP (It often is not) — Requires a dedicated team — Raisin
Slide 12: Main programs in oncology, fibrosis and infectious diseases
Our main programs in oncology, fibrosis, and infectious diseases are all nearing IND application, are licensed from Brown University and RI Hospital, and have been developed through past and on-going grants totaling $123.9M. Oncology Chi3L1 (Chitinase-3-Like 1) Innovation: New master-switch biologic
Slide 13: Pipeline by franchise and candidate
Estimated Patient IND Filing, Population Target Franchise Candidate Drug Type Biological Targets | Indication 0cx-253 mAb hist NscLc 223 ‘460K US 595K EUS Bispecific Chi3l1+PD-1 NscLe He2s Oncology 0cx-410 pa 0cx-909 Pispecine chi3la+CTLA-4 GBM 28K US HY24 mAb | ver 160k US H2'23 ia B OCF-203 Small
Slide 14: Core operating team and external capabilities
Core operating team skilled at selecting assets and driving them through development + External capabilities & capacity to accelerate development of multiple programs > Drug Development Advisors Execution Advisory Services CROs / CMOs Jackie Ernst Dr. Jeff Tepper Dr. Ji Hal . brug Development Pretni
Slide 15: Asset selection and portfolio management process
Science Scientific Rationale / Model Predictability: * Does it make scientific sense? Unmet Need: * Will it profoundly benefit patients? Cross-functional Opportunity Assessment Committee (OAC) Dice | | Structured screening and portfolio management process and tools Pre Evaluation Business case Conti
Slide 16: Comparators with programs
Comparators With Programs Ocean Biomedical Portfolio in Similar Fields —_ Oncology - NSCLC and GBM Kinnate Biopharma (focused on specific kinase gene mutations) Plus: additional bispecific mAbs with immune checkpoint Jan 2021 IPO — pre-clinical inhibitors & extension to other cancers 10/04/22 Market
Slide 17: Valuations of peer group companies
$2,850 Valuations of peer group companies at closing on Tuesday 10/04/2022 (in millions)* $1,060 $943 $832 $755 $535 $534 $436 $396 §3g2 $336 $325 = g 257 & 2 ca * $228 3 g 8 FS 2 £ $130 $128 ga41 ge0 a ee $65 a a “a a = Qocean NIR gaan @rmatent Aarceux DICE GB romensoKINNATE Dentada @ immincering A
Slide 18: Comparable transactions
Transaction Roche — Intermune, 2014* IPF Biogen — Stromedix, 2012 Samumed — United, 2018 Roche — Promedior, 2019 Transaction Lilly — Loxo, 2019 Celgene — Avila, 2012 Oncology (Kinase Inhibitors) Lilly — AurKa, 2018 Roche — Ignyta, 20173 OCEAN Valuation at Transaction Clinical Stage (at Transaction)
Slide 19: Our valuation is attractive compared to peer group
Our valuation is extremely attractive compared to our peer group — especially considering that Ocean is the parent company of 3 biotech companies (oncology, fibrosis, infectious diseases). Ocean Biomedical does not have legacy preferred shareholders who often over-inflate valuations. Ocean’s multi-a
Slide 20: Comparable example approach vs Ocean business model
Comparable Example Approach? Ocean Business Model Differentiation * Founded 2015 _ nN * Focused primarily on single-gene rare diseases bri d g e b io + “Creates a bridge from remarkable advancements in genetic science to a , patients with unmet needs” * More broadly diversified portfolio * Decentral
Slide 21: New programs from existing and new relationships
New programs from existing and new * Additional indications, diseases, and therapeutic areas relationships with * Selective process with stringent criteria that allows identification of valuable assets / researchers / programs institutions Current programs | allow for indication and therapeutic area
Slide 22: Non-small cell lung cancer and glioblastoma
Non-small cell lung cancer (NSCLC) Leading cause of cancer death and second most diagnosed cancer in the US Affects approximately 460,000 people in the U.S. Accounts for about 85% of new lung cancers Early Diagnosis is essential as 40-50% of patients are diagnosed with Stage IV disease NSCLC continu
Slide 23: Ocean's Innovation: Chi3L1
Ocean’s Innovation Chitinase 3-like-1 (Chi3L1) pale eee against Chi3L1 have been These antibodies have shown promise Novel target & pathway discovery: . uit ELEEDEE in animal models as a treatment of * Dysregulated and plays a critical role in the ° Guest primary and metastatic lung cancer pathogene
Slide 24: Oncology program key points
* Novel target: chi3I1 is a master regulator of many visceral tumors regardless of genetic mutations * First-in-class: proprietary mono-specific and bispecific mAbs are first to target chi3l1 * Efficacy proof of concept: 85-95% reduction in primary and metastatic tumor burden in multiple animal mode
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Slide 26: Fibrosis affects many organs
Asthma Pulmonary arterial HTN NASH HCV/HBV IPE Hermansky-Pudlak Syndrome Lung Liver _ 'iovathieportal rw ‘Autoimmune hepatitis copD Alcoholic Liver Disease Primary sclerosing cholangitis ‘ARDS Congenital hepatic fibrosis primary biliary cirrhosis oryeye Congestive heart failure Diabetic retinopathy
Slide 27: Idiopathic pulmonary fibrosis (IPF) and HPS
Idiopathic pulmonary fibrosis (IPF) Progressive disease that results in irreversible loss of lung function with high morbidity and mortality rates ¢ IPF prevalence in the US has been reported to range from 10 to 60 cases per 100,000, while in Europe it ranges from 1.3 to 32.5 cases per 100,000 ¢ Pre
Slide 28: OCF-203 inhibits Chit1 and shows anti-fibrotic properties
OCF-203 inhibits Chitinase 1 (Chit1) and demonstrates anti-fibrotic properties in murine models Ocean’s Innovation Chitinase 1 (Chit1) OCF-203 (Small Molecule X, or SMX) Ce S ES Novel target & pathway discovery: was identified via high throughput oveluted ul Hpbi Key regulator of tissue damage and r
Slide 29: Fibrosis program key points
* Novel target: chit1 is key regulator of tissue damage and remodeling * Potential for disease-modifying activity: 85-90% reduction in collagen accumulation in 4 pulmonary fibrosis animal models ¢ Well-tolerated based on previous clinical Ph 1 studies and EPA data * Seeks to address a major unmet ne
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Slide 31: Malaria unmet need
~3 billion At risk of infection annually worldwide 200-300 million Infected annually worldwide 500,000+ Children under age 5 killed annually The Need: Massive unmet public health need with no effective prophylactic vaccine Despite the recent hype and a $1B grant from Gates, Mosquirix has serious sid
Slide 32: Malaria - Life-threatening disease
Malaria - Life-threatening disease Plasmodium falciparum life | | Caused by parasites and transmitted through the bites of infected female Anopheles mosquitoes cycle Five parasite species cause malaria in humans, the deadliest of which is Plasmodium falciparum (P. falciparum) Malaria caused by Plasm
Slide 33: PfGARP and anti-PfGARP antibodies
PfGARP is a protein expressed on the surface of erythrocytes (red blood cells) infected by early-to-late-trophozoite-stage malaria parasites Anti-PfGARP antibodies bind to the protein and activate programmed cell death Vaccinating individuals with PIGARP (to generate anti-PfGARP antibodies) or direc
Slide 34: Infectious disease program key points
* Novel targets: PfGARP and PfSEA-1 are critical for parasite survival * Proof of Concept: 100% killing of malaria parasites in in-vitro assays; >90% killing of malaria parasites in mRNA-based immunization of non-human primates * Potentially well-tolerated: targets have no homology to any human prot
Slide 35: Accessing innovations and unleashing their value
Accessing innovations, developing them into high-value, clinical assets, and unleashing their value hari = pha a product: i Sourcin 9est-of-breed academic innovations to develop first-in-class bi * Advantaged access to university & medical center inventions — maximizing their economic upside & invol
Slide 36: Thank you
Thank you
Aesther Healthcare Acquisition — SPAC Merger (November 2022) on 6ix