1. 1 Dr Neil Murray BioInfect 2013 26 th November 2013

2. Not just a problem in anti-infectives: Pharma Research and Development −Downsizing and reorganisation being driven by patent expiry, big company inefficiency and poor returns −Increasingly looking outside to Biotech and Universities Biotech Research and Development −Tends to be high-risk, single shot model −Dependent on venture risk capital University Research and Development −Stalled by lack of translational research funding −Entrepreneurial skills gaps 2

3. 3 Building a new R&D Model: −Providing a sustainable source of early stage small molecule therapeutics for subsequent development by partners Driven by Science, Expertise and Capacity: −Utilising extensive in-house medicinal chemistry, in vitro biology and DMPK capability −Collaborating across industry, academia and healthcare Maximise use of non-dilutive finance to supplement investor funds: −Achieve sustainability through industry partnering using innovative deal structures

4. 4 Biotech Expertise Biotech Expertise Academic Expertise Academic Expertise Clinical Expertise Clinical Expertise Sustainable Early Pipeline of attractive assets for Partners

5. 5