Corporate PresentationSeptember 2013

Safe Harbor StatementDuring the course of this presentation we will make statements that constitute forward-looking statements. These statements may include operating expense projections, the initiation, timing and results of pending or future clinical trials, the actions or potential action of the FDA, the status and timing of ongoing research, corporate partnering activities and other factors affecting Adherex Technologies’ financial condition or operations. Such forward looking statements are not guarantees of future performance and involve risk, uncertainties and other factors that may cause actual results, performance or achievements to vary materially from those expressed or implied in such statements. These and other risk factors are listed from time to time in reports filed with the SEDAR and the Securities and Exchange Commission, including but not limited to, reports on Forms 10-Q and 10-K. Adherex does not intend to update any forward looking information to reflect actual results or changes in the factors affecting forward-looking information.

Company OverviewBiopharmaceutical company dedicated to the discovery and development of novel cancer therapeutics Two late stage oncology clinical products: Sodium Thiosulfate (STS) and Eniluracil (EU)

STS: pending favorable data will file for NDAEU: pending partnering discussions advance to Phase III

US based management teamHeadquarters in Research Triangle Park, NCTicker: ADHXF – USA, AHX – TorontoMarket Cap: $10 MM; 25.1 MM shares outstanding$1.0 MM in cash at 6/30/13, no debtLarge insider ownership with aligned shareholder incentives

Management and Board of DirectorsRosty Raykov – Chairman and CEO

Bear Stearns, Tiedemann Group, John Levin & Co., Alchem and DCML Co.

Chris Rallis – Director

30 years of business development, legal and operating experience at Wellcome and Triangle Pharmaceuticals. Currently, executive in residence with Pappas Ventures.

Steve Skolsky – Director

30 years of operating experience, including Head of Glaxo Welllcome’s Division of HIV/Oncology, Chief Executive at Trimeris and Sequoia Pharmaceuticals. Currently, Global Head of Clinical and Data Operations at Quintiles.

STS Investment HighlightsSTS is a chemo-protectant agent being developed exclusively in children to prevent hearing loss caused by cisplatin

Received Orphan Drug Designation in 2004 with 7.5 years exclusivity upon approval

Phase III trial conducted by Children’s Oncology Group is fully enrolled with data on 135 patients expected in October 2013

Phase III trial conducted by SIOPEL6 in children with liver cancer 80/102 patients enrolled

Clinical trial costs covered by government grants

Adherex has exclusive rights to data from both studies

Potential for Rare Pediatric Disease Voucher: upon approval of STS

6 month priority review to any other new NDA or BLA application

Voucher can be transferred or sold with no restrictions

Intellectual property: Use-patent as chemo-protectant in-licensed from OHSU

Issued European and Japanese patents expire 2021, US pending prosecution

Platinum Hearing Loss is Frequent, Severe and Irreversible

Platinum drugs are widely used anti cancer agents in pediatric oncology

Produce profound, irreversible, cumulative hearing loss

Destroy the cochlear hair cells of inner ear

Effect can be seen after as little as the second or third dose

Hearing loss (ototoxicity) is a dose-limiting side effect

Up to 2,000 children receive platinum based chemotherapy every year in the US: 40-90% develop irreversible ototoxicity *

Loss of high frequency hearing sensitivity - loss of high frequency consonants (s/f/th/p/k/h/t)

Background noise compounds disability in critical settings - distance hearing and hearing in the classroom

Infants and young children at critical stage of development lack speech language development and literacy

Older children and adolescents lack social-emotional development and educational achievement

*Neuwelt and Brock. J Clin Oncol 2010;28:1630-1632

Ototoxicity in Children Treated with Cisplatin and/or Carboplatin61% bilateral hearing loss (ASHA criteria) at the end of treatment41% required hearing aids that only partially restore hearing22% of patients had dose reductions due to ototoxicity N=67 age 8 m -20 years

*Gilmer-Knight et al., Journal of Clinical Oncology

MedulloblastomaOsteosarcoma Neuroblastoma PNET Germ cell0

10

20

30

40

50

60

70

80

90

100

Oto

toxic

ity

(%)

88

75

67

50

11

Hearing Loss Diagnosed

Detectable hearing loss generally begins after about two or three cycles of cisplatin, and may continue to occur for months (or longer) after use is discontinued

Switch therapiesDose Modify

Hearing Loss

Detected orCommunica

ted by Patient

Continue Course

Current Approach to Platinum Induced

Hearing Loss

Leads to more severe hearing loss

Less effective dosing/treatment, potentially shortening survival

Pt Cl

NH3

NH3

Antitumor Effect

Ototoxicity Effect

Pt Cl

Cl

NH3

NH3

Protein

Cl

STS

Pt Cl

Cl

NH3

NH3

Protein

Requires both Cl unbound to crosslink DNA

Binding to plasma proteins occurs within first hour which inactivates one binding site

Free cDDP (unbound) short t1/2 :1.5 hr

Requires one Cl unbound to affect cochlear hair cells

Binding to plasma proteins occurs within first hour which inactivates one binding site

STS will bind second site preventing ototoxicity

Target and Proposed STS Mechanism

STS Protects Against Cisplatin Ototoxicity in the Rat

Change from baseline hearing threshold. Effect of STS (8 g/m2 IV) 4 hrs, 8 hrs, or 12 hrs after administration of cisplatin (6 mg/kg IA)

Delayed administration of STS after platinum agents in animals reduces ototoxicity

*Dickey DT et al. J Pharmacol Exp Therapeut 2005;314:1052-1058

Cisplatin and STS animal PKsCisplatin clearance is complete by 6 hrs with or without STS, when STS levels are at or higher than clinically achievable levels

Cisplatin Pharmacokineticsnu/nu mice administered 4 mg/kg CDDP i.p.

STS Pharmacokineticsnu/nu mice administered 3.5 g/kg STS i.p.

STS Level

1 min 15 min

Mouse # 1 222.0 mg/dL 941.0 mg/dL

Mouse # 2 180.0 mg/dL 5.85 mg/dL

Mouse # 3 133.5 mg/dL n/a

Mouse # 4 145.8 mg/dL 1131.0 mg/dL

Mouse # 5 not detectable

1246.0 mg/dL

Mouse # 6 177.1 mg/dL 975.0 mg/dL*Gregory Reaman et al

Time-Dependent Tumor Protection of STS after Administration of Cisplatin in Nude Mice STS allows for anti-tumor activity when given properly

*Harned TM et al. Clin Cancer Res 2008;14:533-540

COG ACCL0431: Randomized Study of STS for Prevention of Cisplatin-induced Hearing Loss

Newly diagnosed children with hepatoblastoma, germ cell tumor, osteosarcoma, neuroblastoma, and medulloblastoma

Study Chair: David Freyer, DO, MS

135 randomized patients fully enrolled and study completed in 1Q 2012

Futility analysis conducted and reviewed by COG DSMC August 2011 with recommendation at the time to continue study

Expect data in October 2013

COG ACCL0431: Randomized Study of STS for Prevention of Cisplatin-induced Hearing Loss

Audiology done with each cycle of therapy

80% power to detect 22.5% vs 45% change in hearing

80% power to rule out >12% difference in 3 yr EFS

Secondary objectives measurement of nephrotoxicity and neurotoxicity

Note: Patient must first be enrolled on the COG

hearing assessment study, ACCL05C1

Diagnosis

Planned treatment program includes 200 mg/m2 cisplatin

(administered according to the disease-specific regimen)

Study entry onto ACCL0431

Randomization

Sodium thiosulfate given intravenously over 15 minutes starting 6 hours after completion of each cisplatin infusion

(STS Arm)

No sodium thiosulfate treatment given

(Observation Arm)

Protocol therapy ends when patient completes planned treatment regimen

containing cisplatin

Newly diagnosed germ cell tumor, hepatoblastoma,

medulloblastoma, neuroblastoma, or

osteocarcoma

SIOPEL 6: Efficacy of STS in Reducing Ototoxicity in Patients Receiving Cisplatin for Standard Risk Hepatoblastoma

Newly diagnosed children with standard risk hepatoblastoma

Study Chair: Peppy Brock, MD

80 randomized patients fully enrolled out of 102

Interim evaluations of efficacy of the chemotherapy carried out and reviewed by IDMC after 20, 40, 60 and 80 patients are evaluable for response

Early stopping will be considered in case of concerns on efficacy of chemotherapy in either treatment arm

The first two interim safety analysis after 20 and 40 patients were conducted with IDMC recommending study to continue

Two interim and one final efficacy analyses planned for early stopping in case of a greater than expected difference between treatment arms in terms of hearing loss

SIOPEL 6: Efficacy of STS in Reducing Ototoxicity in Patients Receiving Cisplatin for Standard Risk Hepatoblastoma

Diagnostic biopsy

Tumour storage

Radiological staging

RRR if required

Registration to remote data entry site via web

80% power to detect 60% vs 35% hearing loss

Two interim and one final efficacy analyses planned for early stopping in case of a greater than expected difference between treatment arms in terms of hearing loss

RANDOMISATION

DELAYED SURGERY

cDDP 80 mg/m2 4 Cycles

cDDP 80 mg/m2 STS: 10-20 gm/m2 depending on age/weight4 Cycles

cDDP2 Cycles

cDDP + STS 2 Cycles

STS: Development TimelineEvent Timing

FDA Type C Clinical Development Meeting Mar 2011

Presented to Pediatric ODAC ODAC recognized challenge of demonstrating STS does not reduce efficacy of cisplatin and agreed adult study would not be appropriate

Nov 2011

COG ACCL0431 Clinical Data Oct 2013

SIOPEL 6 Interim Efficacy Analysis H1 2014

FDA Type C Clinical Meeting – Agree Data Acceptable for NDA H1 2014

FDA Pre NDA Meeting mid 2014

NDA Submission 1Q 2015

STS Market OpportunityPediatric Market Opportunity

12,000 children develop cancer in the US every year

2,000 children will receive platinum-based chemotherapy, 3x ROW

Pricing to be determined based on available therapies in the market

Competitive Position

Significance of injury increases value of STS

Limited competition – hearing aids and cochlear implants do not prevent hearing loss

Hearing aids cost $2000 to $6000 each

Cochlear implants cost up to $75,000 each

Third party market research shows strong adoption characteristics*

Physician approval very high

Payors feedback positive*Campbell Alliance and Panel Intelligence market research, analysis and surveys

SummarySTS has Two Potential Near Term Value Drivers

Positive data from COG Phase III trial will support filing of NDA

Upon approval of NDA, receipt of Rare Pediatric Disease Voucher

Attractive Commercial Market Opportiunity

2,000 patients in the US (3x ROW), limited competition

Third party market research shows potential for strong adoption

Eniluracil is active and well tolerated

Indications where 5-FU is administered potentially in excess of $1 BLN market

Seek partnership for further development of Eniluracil