Investor & Analyst Event

ESMO 2017 Presentation

September 2017

Disclaimer

The statements made in this presentation may include forward-looking statements regarding

the future operations of ERYTECH Pharma S.A., including estimates of target market

opportunity, timing of planned clinical trials and results from those trials, regulatory strategy

and timing of planned regulatory submissions, manufacturing capabilities and strategy for

expansion of the ERYCAPS platform. Although we believe that the expectations contained in

this presentation are reasonable, these forward-looking statements are only estimations

based upon the information available to ERYTECH Pharma S.A. as of the date of this

presentation. Except as required by law, we expressly disclaim any responsibility to publicly

update or revise our forward-looking statements, whether as a result of new information,

future events or otherwise. Thus, the forward-looking statements herein involve known and

unknown risks and uncertainties and other important factors such that actual future

operations, opportunities or financial performance may differ materially from these forward-

looking statements. Undue reliance should not be placed on forward looking statements,

which speak only as of the date hereof. All forward-looking statements contained herein are

qualified in their entirety by the foregoing cautionary statement.

2

Agenda

6:30 – 6:40 PM Welcome & Corporate Overview

Gil Beyen, Chairman & CEO

6:40 – 6:55 PM Eryaspase for Pancreatic Cancer

Iman El-Hariry, MD, PhD, CMO

6:55 – 7:20 PM Full Phase 2b Trial Results of eryaspase in Second-Line Metastatic Pancreatic Cancer

Prof. Pascal Hammel, MD, PhD, Principal Investigator

7:20 – 7:25 PM Financial & Operational Update

Eric Soyer, CFO & COO

7:25 – 7:30 PM Next Steps & Milestones

Gil Beyen, Chairman & CEO

7:30 – 8:00 PM Q&A

3

Corporate Overview

Gil Beyen, Chairman & CEO

4

ERYTECH, leveraging red blood cells to improve cancer therapies

Innovative and versatile ERYCAPS technology platform, encapsulating drugs in red blood cells

1

Targeting indications with high unmet medical need, focusing on cancer metabolism

2

Lead product candidate eryaspase (GRASPA®) in late-stage development3

Expansive opportunities in oncology and beyond5

Positive Phase 2b data in pancreatic cancer (PDAC)4

5

ERYCAPS, an innovative and versatile technology platform

Entrapment of drug substance inside donor-derived red blood cellsusing hypotonic/hypertonic stress

Resealing

(hypertonic stress)

Controlled lysis

(hypotonic stress)

Proprietary ‘osmoticfragility’ process ensuresrequired amount of drugin each RBC batch

Molecules from 1 to 500 kDalton (peptides, enzymes, antigens, ...)

Protected by 13 patent families

Industrialized in commercial scale GMP manufacturing facility

6

Broad clinical pipeline building on ERYCAPS platform

Mode of

action

Product

Candidate/

PROGRAM

Drug

substanceIndication Discovery

Pre-

clinicalPhase 1 Phase 2

Phase 3/

Pivotal

EMA/FDA

review

Commercial

Rights

Cancer

metabolism

Tumor

starvation

eryaspase

(GRASPA®(1))Asparaginase

Pancreatic

cancer

ALLEurope

Israel

US and RoWAML

Solid

tumors

ery-

methionase

Methionine-

γ-lyase

Solid

tumors

eryminaseArginine

deiminase

Solid

tumors

Enzyme

therapiesERYZYME

Therapeutic

enzymes

Metabolic

diseases

Immuno-

therapyERYMMUNE

Tumor

antigensTBD

(1) Brand name for eryaspase in Europe and Israel7

Arrow indicates most advanced study within an indication or program; more detail is provided in subsequent slides

Eryaspase for Pancreatic Cancer

Iman El-Hariry, MD, PhD, CMO

8

Pancreatic cancer, a high unmet medical need

0

20

40

60

80

100

120

140

160

180

2010 2020 2030

Cancer mortality rates in the US

Breast Colon Liver

Lung Pancreas Prostate

Pro

ject

ed c

ance

r d

eath

s (T

ho

usa

nd

s)

Pancreas

• Est. 150,000 new cases diagnosed in Europe and the US annually

• Aggressive cancer, with five-year survival of less than 5%

• 4th leading cause of cancer death in both the US and Europe

• Fast growing, expected to be the 2nd

most morbid cancer in the US by 2030

• Affects mainly older people with median age at diagnosis of 70 years

• Limited treatment options available

Lung

Colon

Breast

Liver

Prostate

Number of Cancer Deaths in the US (1)

Fast growingHigh unmet medical need

(1) Source: Rahib, Smith (2014), Siegel (2017) 9

Reprogramming cancer metabolism, an emerging hallmark of cancer

10

• The oldest area of research, almost a century ago

• Altered metabolic features of tumors lead to acquisition of malignant properties and/or tumor promotion and progression

• Many cancers exhibit increased demand for specific amino acids, and become dependent on an exogenous supply or upregulated de novo synthesis of these amino acids(1)

Source: DeBerardinis & Chandel, Science Advances, 2016

(1) Lukey ea., 2017, Targeting amino acid metabolism for cancer therapy

Altered metabolic pathways in PDAC, a role for L-asparaginase?

• KRAS mutations, present in over 90% of pancreatic cancers, result in the dysregulation of metabolic pathways, including glutamine and asparagine.1

• L-asparaginase has been shown to have growth inhibitory effects in pancreatic cell lines and in xenograft models.3–6

• Excessive toxicity of other L-asparaginase formulations has been observed in early clinical studies in various solid tumors (pancreatic, ovarian) and multiple myeloma.7–10

11

ASNS

ASNase

AsnProliferationGln + Asp Asn + Glu

Gln

ATP

NH3EIF2AK4

EIF2A

Protein Synthesis

Cancer Cell

ATF4

?necrosis

apoptosis

RED ANSase Sensitivity

BLUE ASNase Resistance

NARSQARS

DDIT3

CASP3

GSH

GLS

GLUL

ROSα-KG

TCA

lactate

pyruvate

Rationale for Therapy with L-Asparaginase in PDAC12

1. Almoguera C, et al. Cell. 1988 May 20;53(4):549-54.

2. Cui H, et al. Cancer Res. 2007 Apr 1;67(7):3345-55.

3. Dufour E, et al. Pancreas. 2012 Aug;41(6):940-8.

4. Yunis, AA, et al. Int J Cancer. 1977 Jan;19(1):128-35.

5. Wu MC, et al. Int J Cancer. 1978 Dec;22(6):728-33.

6. Sapra P, et al, 2006 AACR Annual Meeting, Abstract 160.

7. Lessner HE, et al. Cancer Treat Rep. 1980 64 (12), 1359-1361.

8. Hays JL, et al. Mol Clin Oncol. 2013 May;1(3):565-569.

9. Agrawal NR, et al. Cancer. 2003 Jul 1;98(1):94-9.

10. Bachet et al. Pancreas. 2015 Oct;44(7):1141-7.

11. Bertrand Y, et al. 2015 ASCO Annual Meeting, Abstract 7004.

12. Lorenzi P, et al. 2016 ASH Annual Meeting, Abstract 1266.

Eryaspase (GRASPA®), enabling broader use of asparaginase

The circulating asparagine is actively pumped into the RBC…

Y

Asparagine

Asparaginase

Antibody

…where the encapsulated asparaginase hydrolyses it to aspartate and ammonia

Prolonged activity and reduced toxicity thanks to encapsulation of the asparaginase inside the RBC:

a novel ‘bioreactor to degrade asparagine

Longer activity

Less toxicity

Opens possibility to provide asparaginase to patients that are unable to tolerate non-encapsulated products

12

Aspartate

Eryaspase, a targeted therapy of metabolic pathways in PDAC

13

• A Phase 1 study with eryaspase demonstrated a favorable safety profile(3)

• The randomized Phase 2b was launched in 2014 as a proof-of-concept study, the first Phase 2 study with an L-asparaginase based product in a solid tumorindication

• Hypothesis: expression of asparagine synthetase (ASNS) is a predictive factor for L-asparaginase sensitivity in PDAC.2

(1) Dufour e.a., 2012(2) Rahib & Smith, 2014`(3) Bachet e.a., 2015

Prof. Pascal Hammel, MD, PhD

• Pr Pascal Hammel is the head of the Digestive Oncology unit at Beaujon hospital (Clichy), Paris VII University, Denis Diderot

• Expert in digestive oncology, especially in the field of pancreatic diseases, particularly pancreatic tumours, preneoplastic lesions and genetic counselling

• Published 300+ articles in digestive oncology

• PI/investigator of several international clinical trials, such as LAP07 (Gemcitabine with or without chemoradiotherapy and with or without erlotinib)

• Active member of several groups (FFCD, GERCOR, PRODIGE, EPC, UEGW) and member of the U.S. Task Force for pancreatic cancer.

14

Full Results of Phase 2b Study of Eryaspase in Second-Line Metastatic Pancreatic Cancer

Prof. Pascal Hammel, MD, PhD

Principal Investigator

15

Study design

16

Gemcitabine or FOLFOX

(N=46)

Gemcitabine or FOLFOX

+ eryaspase(N = 95)

• Metastatic pancreatic adenocarcinoma

• Second line, previously treated with gemcitabine based chemotherapy or FOLFIRINOX

• Performance status 0 and 1

• N=141 (70% ASNS 0/1, 30% ASNS 2/3)

RA

ND

OM

IZE

2:1

Follo

w u

p

6 cycles of 4 weeks

• Study performed with the GERCOR: 16 centers in France

• Co-primary endpoints: • Overall survival (OS) and progression free survival (PFS) in ASNS 0/1 patients

• Positive if Hazard Ratio (HR) <0.85 for either PFS or OS, providing none is >1.0, independent of statistical significance

• Key secondary endpoints:• PFS and OS in key treatment populations: all patients, ASNS 0/1, ASNS 2/3

• Objective response rate (ORR)

• Safety, QoL

Balanced baseline characteristics and patient disposition

17

Status

Chemotherapy

plus eryaspase

N=95

Chemotherapy

alone

N=46

Gender: Male - Female 56% - 44% 65% - 35%

Mean age at randomization 63 yrs 63 yrs

ECOG Performance Status (PS): 0 - 1 31% - 69% 26% - 74%

Main sites of metastasis:

Liver

Lung

Peritoneal

80%

24%

23%

80%

17%

22%

ASNS scoring intensity: 0/1 - 2/3 70% - 30% 70% - 30%

Chemotherapy regimen: Gemcitabine – FOLFOX 88% - 12% 89% - 11%

Prior best overall response:

Objective response (ORR)

Stable disease (SD)

Progressive disease (PD)

30%

38%

31%

13%

50%

37%

Eryaspase prolongs overall survival (ITT)

18

Time (Weeks)

Chemotherapyplus eryaspase

N = 95

ChemotherapyaloneN =46

Events n (%)Censored n (%)

79 (83%)16 (17%)

40 (87%)6 (13%)

OS HR (95% CI)P-value

0.60 (0.40,0.88)0.009

Median OS (weeks) 26.1 19.0

OS rate at 24 weeksOS rate at 52 week

56.2%14.8%

36.6%3.0%

19E + CT: Eryaspase Arm; CT : Chemotherapy Alone Arm

Overall survival benefit – consistent across subgroups

Eryaspase prolonged PFS and improved DCR (ITT)

20

Perc

ent

Change

-100

-80

-60

-40

-20

0

20

40

60

80

100

120

140

160

Patient (Ordered)

0 5 10 15 20 25 30 35 40 45

Figure 14.2.1.1.1.3: Change from Baseline in Sum of Longest Diameter (Independent Radiological Assessment)

Best Response (RECIST 1.1): Tumor % change from Baseline

Treatment = Chemotherapy Alone

() Best response was progressive disease due to new lesions. Percent change from baseline for these subjects was designated as 150%.

Per

cent

Chan

ge

-100

-80

-60

-40

-20

0

20

40

60

80

100

120

140

160

Patient (Ordered)

0 5 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85 90

Figure 14.2.1.1.1.3: Change from Baseline in Sum of Longest Diameter (Independent Radiological Assessment)

Best Response (RECIST 1.1): Tumor % change from Baseline

Treatment = Eryaspase + Chemotherapy

() Best response was progressive disease due to new lesions. Percent change from baseline for these subjects was designated as 150%.

eryaspase

plus chemotherapy

chemotherapy

alone alone

* patient with complete remission () new lesions

*

new lesions

new lesions

Chemotherapy

plus eryaspase

N=95

Chemotherapy

alone

N=46

PFS HR (95% CI)

P-value

0.59 (0.40, 0.89)

0.011

Median PFS

(weeks)8.6 7.0

PFS rate at 24 wks 16.9% 5.8%

Response rate

(ORR)11.6% 6.5%

Disease control

rate (ORR+SD)47.4% 23.9%

Similar toxicity profile across treatment arms

21

0% 25% 50% 75% 100%

Patients with ≥1 adverse event

Asthenia

Nausea

Thrombocytopenia

Anemia

Vomiting

Neutropenia

Diarrhea

Decreased appetite

Pyrexia

Stomatitis

Irregular antibody positive

Fatigue

Mucosal inflammation

GGT increased

Peripheral neuropathy

ALT increased

Weight loss

Peripheral edema

Constipation

Eryaspase + Chemotherapy (N=93) Chemotherapy Alone (N=44)

Key Treatment-Emergent Related Adverse Events (AE)

Total eventsChemotherapy plus

eryaspase (N=95)

Chemotherapy

alone (N=46)

Patients with >1 Grade 3 or 4 AE 77% 86%

Patients with > 1 SAE 45% 50%

Study conclusions

• Co-primary endpoints met

• Significantly prolonged OS and PFS in the entire population, and improved DCR

• Sensitivity analyses confirmed that results were robust and consistent across subgroups

• Similar safety profile in two treatment arms

• Biomarker work in progress to further decipher the effect of eryaspase, in particular the impact on metabolic pathways

• These data support the sponsor’s proposal to conduct a confirmatory study of eryaspase in pancreatic adenocarcinoma

22

Financial & Operational Update

Eric Soyer, CFO & COO

23

Preparing the company for the next stage

• In April 2017, we successfully completed a private placement resulting in gross proceeds €70.5 million from U.S. and European investors

• The net proceeds of approximately €65.2 million will be utilized to:

• Finance the preparatory steps for the launch of potential Phase 3 studies, notably for the pancreatic cancer indication

• Assess the clinical development opportunities for eryaspase for the treatment of other solid tumor indications, in addition to our ongoing preclinical and clinical programs

• Further strengthen the financial position for our continued development

• Cash balance of €88.5 million at end Q2 2017

• Expanding manufacturing capacity in U.S. and Europe, and strengthening the teams across all functions

24

Next Steps & Key Milestones

Gil Beyen, Chairman & CEO

25

Key milestones

Reporting of full Phase 2b pancreatic cancer data

Meeting with US and EU agencies on pancreatic cancer development plan

Resubmission of EU marketing authorization application in R/R ALL

Meeting with FDA on ALL further development plan

Results from EU Phase 2b AML study

Launch of potential Phase 3 study in pancreatic cancer

Launch of potential Phase 3 study in 1st line adult ALL

Launch of potential erymethionase Phase 1 study

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✔

Q&A

27

www.erytech.com

investors@erytech.com

ERYTECH Pharma SA60 Avenue Rockefeller

69008 LyonFrance

ERYTECH Pharma Inc1 Main Street

Cambridge, MA 01242USA