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ANGEL-MS Top line results Extension study of CHANGE-MS for temelimab (GNbAC1) in RRMS patients GeNeuro SA, March 2019 Disclaimer This presentation has been prepared by GeNeuro solely for use in the context of a general information meeting. All


  1. ANGEL-MS Top line results Extension study of CHANGE-MS for temelimab (GNbAC1) in RRMS patients GeNeuro SA, March 2019

  2. Disclaimer This presentation has been prepared by GeNeuro solely for use in the context of a general information meeting. All persons accessing this document must agree to the restrictions and limitations set out below. This material is given in conjunction with an oral presentation and should not be taken out of context. This presentation has been prepared for information and background purposes only and the information contained herein (unless otherwise indicated) has been prepared by GeNeuro S.A. (the “Company”) . It includes only summary information and does not purport to contain comprehensive or complete information about the Company and is qualified in its entirety by the business, financial and other information that the Company is required to publish in accordance with the rules, regulations and practices applicable to companies listed on Euronext Paris. No reliance may be placed for any purposes whatsoever on the information or opinions contained in this document or on its accuracy or completeness. This presentation includes “forward -looking statements. ” Any assumptions, views or opinions (including statements, projections, forecasts or other forward-looking statements) contained in this presentation represent the assumptions, views or opinions of the Company as of the date indicated and are subject to change without notice. All information not separately sourced is from internal Company data and estimates. Any data relating to past performance contained herein is no indication as to future performance. The information in this presentation is not intended to predict actual results, and no assurances are given with respect thereto. By their nature, such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as of the date of this presentation. Investors are urged to consider these factors carefully in evaluating the forward-looking statements in this presentation and not to place undue reliance on such statements. The information contained in this presentation has not been independently verified and no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained herein and no reliance should be placed on it. None of the Company or any of its affiliates, advisers, connected persons or any other person accept any liability for any loss howsoever arising (in negligence or otherwise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. Any securities mentioned herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) or under the securities laws of any state or other jurisdiction of the United States and may not be offered, sold, resold or delivered, directly or indirectly, in or into the United States absent registration under the Securities Act or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The distribution of this presentation may be restricted by law in certain jurisdictions, and persons into whose possession these materials come should inform themselves about, and observe, any such restrictions. No public offering of securities is being made in the United States or any other jurisdiction. 2 March 2019

  3. From the outset of disease, Multiple Sclerosis is marked by neuroinflammation and axonal loss/brain atrophy RRMS SPMS Frequent inflammation, Continuing inflammation, persistent Infrequent inflammation, chronic demyelination, axonal transection demyelination axonal degeneration gliosis plasticity and remyelination Brain volume Time since onset of disease Inflammation Inflammation mediated by adaptive immunity (B and T lymphocytes) Axonal loss Neuronal damage mediated by innate immunity (activated microglia) and accelerated by hampered remyelination (oligodendrocyte precursor cells) 3 March 2019 Adapted from Compston et al., The Lancet 2002

  4. Temelimab neutralizes pHERV-W Env, known to act on key cells associated with MS disease progression pHERV-W Env • induces an agressive phenotype (M1) in TLR4 + microglial cells • activates microglia to associate themselves with myelinated axons TLR4 + ( ) • decreases microglial expression of regenerative factors Microglia fuels microglial-dependent neurodegeneration in MS pHERV-W Env pHERV-W Env • induces release of cytokines & activates NO synthase • reduces myelin protein expression • significantly reduces OPC differentiation capacity drives OPC mediated remyelination failure TLR4 + ( ) 4 Oligodendrocyte Precursor Cell (OPCs) Sources: Kremer et al., Ann Neurol 2013; Antony et al., Nat NeuroSci 2004; Madeira et al, JNeuroImmunol 2016; Rolland et al., J Immunol 2006; Kremer et al. presentation at the 2018 Charcot Conference

  5. The ANGEL-MS results confirm and further support the neuroprotective effects of temelimab in MS • Confirmed reduction over time of brain atrophy rates • Cerebral Cortex • Thalamus • Confirmed protection of myelin integrity as measured by Magnetization Transfer Ratio (MTR), compatible with remyelination • Increase in MTR signal in the Cortex • Strong reduction in MTR signal loss in Normal Appearing White Matter • First encouraging signals of neuroprotection translating into clinical benefits • Remarkably well tolerated 5 March 2019

  6. ANGEL-MS, an extension study to CHANGE-MS assessing safety & efficacy of temelimab in RRMS patients • 219 patients from CHANGE-MS entered ANGEL-MS (94,8% of completers) • All patients remained on active therapy, blinded to dose / original randomization group, but set-up time led to some dose interruptions between the trials • > 80% missed ≥ 1 dose, • ≈ 50% missed ≥ 2 doses and • ≈ 20% missed ≥ 3 doses • Early termination was a result of Servier’s decision to opt -out • Analysis approach: • As per SAP, original randomization groups: 18mg/kg, 12mg/kg, 6mg/kg and Control Group defined as originally randomized to placebo, and re-randomized to active treatment after 6 months in CHANGE-MS • Sensitivity analysis performed by dose groups (irrespective of time treated) and by exposure (separating quartiles by total exposure to temelimab, irrespective of body weight) • No correction was performed for multiple testing 6 March 2019

  7. Flow of patients from CHANGE-MS into ANGEL-MS 154 patients completed 96 weeks of treatment ANGEL-MS ANGEL-MS CHANGE-MS CHANGE-MS Week 48 Baseline Baseline Week 24 LAST OBSERVATION 48 WEEK MRI AS CHANGE-MS N=219 N=263 N=247 CARRIED FORWARD END OF STUDY Week 48 17 41 18 mg/kg 62 58 67 11 35 60 46 12 mg/kg 65 60 55 6 mg/kg 65 19 36 22 19 18 mg/kg 4 15 Control Group 66 22 7 15 12 mg/kg 24 week 22 Placebo Period 7 12 6 mg/kg 21 19 7 CHANGE-MS CHANGE-MS ANGEL-MS PRIMARY W48 RESULTS DATA ANALYSIS

  8. Sensitivity analyses were performed by Dose Group and by Exposure Analysis by Dose-Groups Analysis by total Exposure • Allocating placebo patients into their • Distributing the patients by quartiles respective active treatment arms depending on the total amount of temelimab received during the study • Does not account for variation in the • Does not account for differences in duration of the treatment (initial placebo period of 6 months) body weight (temelimab dosed as a function of body weight) • Results presented in 3 groups • Results presented in 4 groups • All 18mg/kg • Group 1 – Minimum exposure • All 12mg/kg • Group 2 • All 6mg/kg • Group 3 • Group 4 – Maximum exposure 8 March 2019

  9. MRI Measures 9 March 2019

  10. Modest effect of temelimab on inflammatory markers Number of T2 lesions 18 12 6 Control P-value mg/kg mg/kg mg/kg Group Median number of new 5.0 5.0 6.0 6.0 0.31* or newly enlarged T2 lesions from ANGEL- MS Baseline Volume of T2 lesions 18 12 6 Control P-value mg/kg mg/kg mg/kg Group Median % increase of 8.1% 8.7% 13.7% 11.8% 0.28** T2 lesion volume from ANGEL-MS Baseline *Non parametric analysis SAS Proc NPAR1WAY, excluding Control group from analysis **Regression analysis SAS Proc GLM, excluding Control group from analysis 10 March 2019

  11. Continued reduction of Cortex atrophy Original CHANGE-MS Groups Group Median % Relative reduction at reduction week 48 in of atrophy ANGEL Control -1.29 42% 6mg/kg -1.27 41% 18mg/kg -0.75 Dose effect* p=0.058 Weeks CHANGE-MS ANGEL-MS 11 * Dose-effect analyzed by linear regression, SAS analysis proc GLM March 2019

  12. Continued reduction of Cortex atrophy Sensitivity analysis by Dose and by Exposure BY DOSE BY EXPOSURE Dose effect* p=0.31 Dose effect* p=0.06 Group Median % reduction at Relative reduction Group Median % reduction at Relative reduction week 48 in ANGEL of atrophy week 48 in ANGEL of atrophy 6 mg/kg -1.3 G1 MIN -1.6 18mg/kg -0.9 31% G4 MAX -0.7 31% * Dose-effect analyzed by linear regression, SAS analysis proc GLM

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