Disclaimer IPO Presentation,., Presentation,. Presentation..,,,,, E..,.,,.

PanGen Biotech Inc. INVESTOR RELATIONS 2015

Disclaimer IPO Presentation,., Presentation,. Presentation..,,,,, E..,.,,.

Pangen BIOTECH INVESTOR RELATIONS 2015 Prologue Chapter 01. Chapter 02., Chapter 03., Chapter 04., Chapter 05. Investment Highlight Appendix CONTENTS

Prologue 01. CORPORATE IDENTITY 02. 01

01. CORPORATE IDENTITY, // GMP EPO, Factor VIII, G-CSF,, 3 - CCM - - / 5

02. GMP / / PanGen CHO-TECH 6

Chapter 01 01. 02. 03. 04.

01., Purdue University 1992~ 52 83%, COO 6.5 3.5 University of Chicago 1989~, 11.5 4, 10.5 2.5 52 56%, 9.5 2.5, 5.5 8

02., EPO, Factor, G-CSF PanGen CHO-TECH TM, Scale-up GMP 9

03. EPO, Factor, G-CSF Upfront / EMA 3 EPO halal / ASEAN GMP 28 10

04. 1 3 EPO, 3 4Q, 2016 2 EPO EPO, CCM Factor Factor 2015.5 4Q, 2018,, Northland IND G-CSF 2015.2 4Q, 2019 Lenograstim G-CSF, * FSH,, IFN-β, 11

Chapter 02, 01. 02. 03. 04.

01. GMP 1~3 Upfront 1~2% CHO 33 CHO 5 3~5 Upfront 5L,, CMO 3~6 GMP / 5~200 L ; 50~ 1000 L 5~15 13

02. 33 55 PanGen Biotech Korea PanGen has developed novel mammalian cell expression system that can efficiently produce proteins from CHO cells Frost & Sullivan, 2014 PIC/S 1 cgmp 17 9 CMO 1 PIC/S Pharmaceutical Inspection Convention PIC & Pharmaceutical Inspection Co-operation Scheme PIC Scheme 14

03., USA ITALY UAE CHINA TPI/IVY ZZ Biotech IBI Vitane NewSummit Northland Tide MEXICO KOREA Cryopharma Landsteiner 13 Sophia Von Meiding IQFA VENEZUELA MALAYSIA Quimbiotech InnoBiologics 15

04. CMO / 50 GMP 1.9 1.6 40 2.8 1.3 2.7 1.5 2.8 1.5 1.8 1.4 8.3 16.7 30 20.3 9.8 16.7 20 3.8 7.7 7.7 13.3 11.1 22.5 20.9 10 2010 2011 2012 2013 2014 2015E 0 16

Chapter 03, 01. 02. 03. EPO 04., 3 05. 06.

01. 3, Stand-alone ad hoc basis Biosimilar product Originator product Stand-alone ad hoc basis Stand-alone Stand-alone Stand-alone Stand-alone 18

02. CAGR 4.8% CAGR 17.3% 239.6 189.6 1,858 1,540 1,614 1,692 1,773 92.0 140.4 52.8 22.6 27.5 2013 2014E 2015E 2016E 2017E 2013 2014E 2016E 2018E 2020E 2022E 2024E, Visiongain Report 2014 Biosimilars and Follow-On Biologics 2014-2024. Visiongain, 2014 19

03. EPO EPO EPO Erythropoietin EPO - - - 2 Epoetin alfa 1 3 EPO 52 Eprex,, Stand alone Binocrit isomer Binocrit Eprex 1 Sandoz 2007 Binocrit 20

04., 3 Manufacturing 200 L CMC 확보 임상 3 상 EPO NDA 2016 3 NDA GMP 실사, GMP NPCB 2016 3 2016 3 21

05. EPO EPO CAGR 16.4% 10.8 246 9.4 801 6.5 7.4 285 2014 5.1 5.4 2,147 380 435 2013 2014E 2015E 2016E 2017E 2018E Visiongain, 2014 IMS 22

06. EPO 2017 ~ 2019,, ASEAN,, CCM Halal EPO 201.9 310.7 18.5,,,, EPO 2016E 2017E 2018E 23

Chapter 04, 01. Factor 02. 03. G-CSF 04.

01. Factor Factor Factor Factor VIII 8 A-type 5,000 1 - A 8-3 B Factor 1 Factor VIII Stand-alone 2, B 1 Pfizer Xyntha /Refactor, -F 2 Factor VIII 25

02. Factor Factor Factor 156 57.6 61.9 CAGR 5.6% 66.8 69.8 74.5 75.5 162 224 258 2014 2,710 1,023 2013 2014E 2015E 2016E 2017E 2018E 416 470 Datamonitor Healthcare, 2014 IMS, Factor 2018 ~ 2019 CCM 4~5, 2016 4 26

03. G-CSF G-CSF G-CSF G-CSF - -, - lenograstim lenograstim filgrastim 27

04. G-CSF G-CSF G-CSF 40 CAGR 29.3% 8.2 9.9 11.5 50 171 2014 415 3.2 4.4 5.6 1,053 2013 2014E 2015E 2016E 2017E 2018E 377 Visiongain, 2014 IMS, G-CSF 2019 1, 3, ASEAN,, CCM 28

Chapter 05 Investment Highlight 01. 02. GMP 03. 04. 05. VISION

01. PanGen CHO-TECH TM 200 90 50~60 5 VEGF mg/l 6 5 Ⅰ 3-2013 - 100 2014 4 - Frost & Sullivan 3 2 Ⅰ 5 2014-2015 1 0 Ⅰ 1 2 1 2 3 40 55 ZZ Biotech 2 - - + - 3 30

02. GMP 50 ~ 1,000L GMP GMP PIC/S GMP Factor CMO EPO Factor, 31

03. CCM 8.97% Chemical Company of Malaysia Berhad CCM EPO 18 ASEAN EPO CJ 1.62% CJ CJ HealthCare Northland 1.62% Beijing Northland Biotech Co., LTD Northland Factor 32

04. 212 700 104 Factor -20 2014-27 2015E -14 2016E 2017E 2018E 391 EPO 245 59 2011 2012 2013 2014 2015 2016 2017 2018 2019 2016.4Q EPO 2018.4Q Factor 33

05. VISION T PanGen CHO-TECH TM PanGen P IPO S 34

Appendix 01. IPO PLAN 02. 03. 04. 05.

01. IPO PLAN 2,000,000 0.67% 32.27% 500 15,500 ~ 17,700 310 ~ 354 1,533 ~ 1,750 2015 11 19 ~ 20 2015 11 26 ~ 27 2015 12 1 2015 12 8 22.23% 8,994,682 12.33% 20.29% 12.21% 60.23% Chemical Company of Malaysia Berhad CJ Beijing Northland Biotech 09-9 4 / 2,902,440 806,450 145,988 145,984 1,210,838 614,542 1,108,440 60,000 2,000,000 8,994,682 32.27% 8.97% 1.62% 1.62% 13.46% 6.83% 12.33% 0.67% 22.23% 100.0% 12 - - - - 1-3 - 36

02. CEO Profile PanGen Biotech Inc., 2010 1 34.7 Purdue Univ 1998 Baylor College of Medicine 2002 National Univ. of Singapore EPO, Factor, G-CSF 1992~ 2010~ 306, 3 204 GMP 306, 2 4 52 1976~1987, 1987~2000 2000~2015 2015~ www.pangen.com 2010~ 37

03. Key Achievements since 1999 2014 ~ 1999 ~ 2011 1999.12 PanGen Biotech Inc. 2006.03 2010.01 2010.02 717 2010.03 2 2010.04 2010.08 GMP 2011 2 2011.02 2011.03, 2011.05 2011.11, 2012 ~ 2013 2012.06 EPO 1 IND 2012.06 CCM 3 EPO 2012.09 EPO 1 3 IND 2012.12 EPO 3 2013.06 3 5 2013.07 3 2013.07 G-CSF, 2 4.75 2013.09 2013.11 NPCB PIC/S cgmp 2014.01 EPO 2014.04, 2014.07 100 2015.02 G-CSF 2015 05 Factor 2015.06, 2015.08 2015.12 38

04. No. / 2003.11 1 Expression vector using for animal cell 2006.07 2008.06 2008.09 2009.10 2011.03 CHO M/SAR CHO M/SAR CHO 2011.11 2 MAR Expression vector for animal cell containing nuclear MAR matrix attachment region of interferon beta 2005.11 2007.08 CHO M/SAR 2014.04 2015.06 CHO 2013.11 M/SAR 3 Expression vector for animal cells 2013.11 2013.09 M/SAR CHO 2013.09 CHO 2013.09 2015.10 39

05. 2015. 1H 2014 2013 2015. 1H 2014 2013 2,224 4,029 893 12,895 12,844 10,595 15,119 16,873 11,488 5,490 5,554 5,616 3,044 3,107 4,558 8,534 8,661 10,174 1,469 1,443 1,128 11,064 10,515 2,641 2,084 2,159 1,290-8,032 5,905 3,745 6,585 8,212 1,314 1,682 3,400 3,212 1,540 3,400 2,738 142 0 474 1,255 2,020 994 1,113 2,020 520 30 126 109 360 1,117 1,193 1,443 3,012 1,604 683-892 -237 2,126 2,120 1,367 K-IFRS, 2015. 40

304, 3 204 I Tel 031-733-9165 I Fax 031-733-9167 I www.pangen.com