1. Sachs Annual Biotech in Europe Forum
Developing of Antibody-Drug Conjugates (ADCs)
targeting the collagen receptor uPARAP in cancer
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds
Niels Behrendt
Christoffer Nielsen
Lars H. Engelholm
Henrik Stage

2. Glioblastoma Multiforme
ADC targeted delivery of toxins to the cancer
No cancer brain tissue
stained
Glioblastoma Multiforme
brain tissue
uPARAP
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds

3. The ADCendo strategy uPARAP internalizing 1 role 2 6 uPARAP 4 3 5
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds 5
Adapted from Senter (2012) Nat. Biotechnol.

4. Published  It works – in vitro and in vivo
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds

5. Published  It works – in vivo
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds

6. uPARAP has important role in several cancers with unmet medical needs
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds
Glioblastoma
Sarcomas
Leukemia

7. By founders and Novo Seeds / Finsen Lab
Financing the Next Steps  Scale up, Tox and Phase 1 IP
Series 0
By founders and Novo Seeds / Finsen Lab
Series A
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds
Series B

8. Founders – Senior Scientists & Biotech Entrepreneur
CEO: Henrik Stage More than 25 years of executive experience in biotech and finance. Served as CFO and CEO of Santaris Pharma A/S, Denmark, a company sold to Hoffmann-La Roche in 2014 for 450m USD. Leading up to the sale to Roche Henrik led the preparation of Santaris for an IPO at NASDAQ in USA. Transformed Santaris from a “technology platform company” to a “clinical stage company” with a pipeline of 6 drugs. Raised +150m USD in dilutive funds from venture capital investors and +150m USD in non-dilutive funds from pharma partners. Partner in Ventac Partners. MSc. from Copenhagen Business School. Scientific founders and inventors Niels Behrendt D.Sc, Section head, Cancer Invasion Section, Finsen Laboratory Expertise in cell surface receptors, proteolysis, ECM biology and cancer invasion Discovered and cloned uPARAP/Endo180 (Behrendt et al. J.Biol.Chem. 2000). Lars H. Engelholm PhD, Group leader and head of Histology Core Facility, Finsen Laboratory Expertise in receptor biology, antibody technology, molecular biology and immunohistochemistry Created the uPARAP/Endo180 gene-deficient mouse and determined the biological function of the receptor (Engelholm et al. J.Cell Biol. 2003). Christoffer Nielsen PhD, postdoc, Finsen Laboratory Specific expertise in ADC technology Developed, created and characterized the ADCs used in this project (Nielsen et al. Oncotarget 2017)
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug -Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds

9. SUND – University of Copenhagen
Slide 1 – ADCendo at Sachs
Thank you to Sachs and to Novo Seeds for inviting us for this presentation of ADCendo; a company founded 2 months ago by Niels (who is here today), Lars, Christoffer and me. I’m Henrik Stage – the CEO of the company
Slide2 – Glioblastoma case
The reason that we are here today is that we hope to be able to make a difference for patients that suffers from some very serious cancer diseases – one of them is the very serious brain cancer - Glioblastoma.
On this slide you see healthy and glioblastoma cancer tissue. The cancer tissue is colered based on the presence of the protein uPARAP.
Our ambition is to use this very clear and obvious presence of uPARAP to make a drug that can kill the cancer cells but not touch the healthy tissue.
The bullet is an ADC
With an antibody targeting uPARAP
A linker that can release the drug when it is internalized and
a toxin that can kill the cell
Slide 3 – ADCendo Strategy - Cartoon
This cartoon shows that the ADC is being internalized, released and is killing the cancer cells
Import to note that the uPARAP target is having a natural role as “internalizer” hence increasing the numbers of internalizations of the drug - Several other ADC’s only targets receptors present that does not internalize
Slide 4 – Published – It works in vitro
Gets into the cells
Create apoptosis – or cell death – BUT only in the cancer tissue – the healthy tissue is still alive
Slide 5 – Published - It works in vivo
Mice gets 3 doses of our ADC
The mice cancer volume increases for the non treated and decrease for treated animals
10 out of 10 of treated mice survive and all non treated dies
Slide 6 - uPARAP has important role in several cancers with substantial unmet medical needs
Glioblastoma
Sarcomas
Out of 53 osteosarcoma cores:
29 cores: major part score positive
10 cores: 20%<X<70% positive
8 cores: <10% positive
2 cores negative
Leukemia
Slide 7 - Financing the Next Steps  Scale up, Tox and Phase 1
Scale up
Tox
Phase 1
Slide 8 – Founders
Henrik Stage
Niels Behrendt
Lars Engelholm
Christoffer Nielsen
Slide 9 – Thanks
Copenhagen University Hospital
Finsen Laboratories
BRIC
Novo Seeds
Niels Behrendt
Christoffer Nielsen
Lars H. Engelholm
Henrik Stage