Slide 1: Definitive Transaction Agreement between Skye Bioscience and Redx Pharma
14 August, 2026 Definitive Transaction Agreement between Skye Bioscience and Redx Pharma NASDAQ: SKYE Redx: Private UK Company
Slide 2: Disclaimer: Forward-Looking Statements
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 2 Disclaimer Forward-Looking Statements "Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995 This presentation and the accompanying slides and oral co
Slide 3: Disclaimer: No Offer or Solicitation
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 3 Disclaimer No Offer or Solicitation This communication is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or t
Slide 4: Speakers and Agenda
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 4 Speakers and Agenda Agenda • Introduction • Strategic Rationale & Key Transaction Terms • Redx Overview • Lead program – RXC008 • Timetable & Next Steps Punit Dhillon CEO Lisa An
Slide 5: A Merger That Creates Value for Skye Shareholders
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 5 A Merger That Creates Value for Skye Shareholders • The combined company will be led by Lisa Anson as CEO, and the current Redx management team. • The combined company is expecte
Slide 6: Pro Forma Capitalization Table
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 6 Pro Forma Capitalization Table Shares Outstanding / Issued Implied Valuation (in millions) Ownership in Pro Forma Company1 Skye Shares outstanding (including shares underlying op
Slide 7: A Disciplined Capital Decision – Value Preserved for Shareholders
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 7 A Disciplined Capital Decision – Value Preserved for Shareholders Phase 2a: CBeyond data • Nimacimab well tolerated; safety profile in line with placebo • No increase in GI or ne
Slide 8: Redx Leadership Team will Transition to Lead Fibrx Therapeutics
Redx Leadership Team with Extensive Industry Experience will Transition to Lead Fibrx Therapeutics Skye I Redx I Definitive Transaction I August 2026 Dr Caroline Phillips Experienced scientific leader >25 years experience in drug discovery and early clinical development CSO Lisa Anson Experienced an
Slide 9: Novel Anti-Fibrotic Assets in High Unmet Need Indications
Novel Anti-Fibrotic Assets in High Unmet Need Indications with Significant Commercial Potential Skye I Redx I Definitive Transaction I August 2026 9DDR: Discoidin Domain Receptor; ROCK: Rho-associated coiled-coil protein kinase; IBD: Inflammatory bowel disease; MASH: Metabolic dysfunction- associate
Slide 10: Disease Modifying Anti-fibrotic Therapy Could Address Unmet Need in Fibrostenotic Crohn's Disease
Skye I Redx I Definitive Transaction I August 2026 10 Health economic burden creates strong pricing power Disease Modifying Anti-fibrotic Therapy has the Potential to Address Major Unmet Need in Fibrostenotic Crohn's Disease (1) Clarivate, Crohn’s disease landscape & forecast (2) Chan et al, 2018 (3
Slide 11: RXC008: Phase 2 Ready with Open IND and FDA Fast Track Designation
RXC008: Phase 2 Ready with Open IND and FDA Fast Track Designation Granted Skye I Redx I Definitive Transaction I August 2026 11 Preclinical – Observed full reversal of fibrosis • Pan-ROCK inhibitors show efficacy, including full reversal of fibrosis in in vivo models Phase 1 – Favourable safety/tis
Slide 12: ROCK Pathway is Clinically Validated and Sits Downstream of Pro-Fibrotic Pathways
ROCK Pathway is Clinically Validated and Sits Nodally Downstream of Multiple Pro-Fibrotic Pathways Skye I Redx I Definitive Transaction I August 2026 12 Targeting ROCK has a pleiotropic effect as it sits downstream of multiple other key profibrotic signaling pathways including TGF-ß ROCK pathway act
Slide 13: GI-Restricted Mechanism of RXC008 Removes Limitations of Systemic pan-ROCK Inhibition
Plasma Exposure GI-Restricted Mechanism of RXC008 Removes the Limitations of Systemic pan-ROCK Inhibition Skye I Redx I Definitive Transaction I August 2026 13 RXC008 RXC008 designed to be GI-restricted via three mechanisms Mouse Adoptive T Cell Transfer Crohn's Model RXC008 is GI restricted in mous
Slide 14: RXC008 Robust Preclinical Package Shows Anti-fibrotic Effects
RXC008 is effective in combination with anti-TNF RXC008 Has a Robust Preclinical Package That Shows Promising Anti-fibrotic Effects in Multiple Translatable Models Therapeutic dosing of a pan- ROCK inhibitor in 12-week DSS model Source: Data generated by University of Ghent on behalf of Redx. Data g
Slide 15: Phase 1 Complete - Data Reported at ECCO and DDW 2025
Phase 1 Complete - Data Reported at ECCO and DDW 2025 Skye I Redx I Definitive Transaction I August 2026 30mg 100mg 300mg 600mg 1000mg 100mg 300mg 10 mg Part A: Single Ascending Dose (SAD) 6 cohorts n=6 Part B: Multiple Ascending Dose (MAD) - 14 days, n=23 30mg • Once daily oral dosing • Safety and
Slide 16: RXC008 Tissue Exposure Achieved Clinically with Virtually No Systemic Exposure
Skye I Redx I Definitive Transaction I August 2026 16 RXC008 Tissue Exposure Achieved Clinically at Predicted Efficacious Concentrations with Virtually No Systemic Exposure Mouse efficacious tissue range Healthy Volunteer GI Tissue Concentration (2-6 hours post-dose) Phase 1 healthy volunteer data c
Slide 17: RXC008 Phase 2 Preparations Underway, Enrollment Expected Q4 2026
Skye I Redx I Definitive Transaction I August 2026 17 RXC008 Phase 2 Preparations Underway with Enrollment Expected to Commence in Q4 2026 2027 2028 20292026 RXC008 Phase 2 Study First Patient First Dose Preliminary PK/PD analysis: (first 45 patients) IND Open FDA FTD Topline Data Full Data Set Phas
Slide 18: Closing Summary: Differentiated pipeline focused on novel anti-fibrotic assets
Differentiated pipeline focused on novel anti-fibrotic assets Lead program RXC008 is a potential first-in-class pan- ROCK inhibitor targeting a large indication with no currently approved therapies Skye I Redx I Definitive Transaction I August 2026 18 Substantial commercial potential with limited co
Slide 19: Transaction Timetable and Next Steps
© 2 0 2 6 S ky e B io sc ie nc e , In c. S k y e I R e d x I D e fi n it iv e T ra n s a c ti o n I A u g u s t 2 0 2 6 19 Transaction Timetable and Next Steps Transaction unanimously approved by both boards of directors and is expected to close in Q4 2026 • Subject to customary closing conditions a
Slide 20: Thank You
THANK YOU 11250 El Camino Real, Suite 100 San Diego, CA 92130 ir@skyebioscience.com Please learn more or contact us at: +1 (858) 410-0266 Spotlight