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June 2020

Pioneering the Next Generation ofRedirected T Cell Engaging Therapeutics in Immuno-Oncology

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Agenda

• The Landscape: Breakthroughs in Cancer Immunotherapy

• Corporate Overview: Leader in T Cell Engaging Therapy in Solid Tumors

• The Opportunity: T Cell Engaging Therapy in Solid Tumors – Game Changing

• The Maverick Solution: COBRA™ Therapeutic Platform

• COBRATM Platform Validation: Lead Candidate MVC-101

• Path to Treating Patients: Clinical Development Strategy

• Single Focus on Developing T Cell Engaging Therapies: COBRA™ Pipeline

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IL-2 approved for metastatic

renal cell carcinoma

PROLEUKIN® (aldesleukin)

Breakthroughs in Cancer Immunotherapy Development

20182015

First CAR-T Cell Therapy approved for ALL

KYMRIAH® (tisagenlecleucel)

James Allison, PhD & TasukuHonjo, MD, PhD win Nobel Peace

Prize for Checkpoint Inhibitors

2014

First Check Point Inhibitors (Anti-PD-1) approved for

advanced melanomaKEYTRUDA® (pembrolizumab),

OPDIVO® (nivolumab)

ALL = acute lymphoblastic leukemia

First Bispecific T Cell Engager approved for Precursor B cell ALL

BLINCYTO® (blinatumomab) CD19 x CD3

First Oncolytic Virus approved for melanoma

IMLYGIC® (T-VEC)

FDA

FDA

FDA

First autologous cellular immunotherapy approved

for prostate cancerPROVENGE® (sipuleucel-T)

1992

2010

2011

2017

First Checkpoint Inhibitor (Anti-CTLA-4) approved

for metastatic melanomaYERVOY® (ipilimumab)

First report of efficacy & safety of CAR-T cell

Therapy or a Bispecific T Cell Engager

in solid tumors

FDA

FDA

FDA

FDA= accelerated approval www.drugs.com/approvalhistory

www.nobelprize.org/prizes/medicine/2018/press-release

CAR-T Cell Therapy approved for B cell lymphoma

YESCARTA® (axicabtagene ciloleucel)

FDA

202X

FDA

mavericktx.com

CORPORATE OVERVIEW

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Maverick Therapeutics Introduction

• Immuno-Oncology company launched in 2017

• Our Mission: Become the Leader in T Cell Engaging Therapy in Solid Tumors

COBRA™: A novel conditionally active T cell engager designed to safely target solid tumors with highly

specific and potent activity

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Partnerships

Focus

Strategic Validation

$125M of Committed Funding

Validation of approach, scientific platform and programs by key industry leaders

Develop proprietary, best-in-class, T cell-engaging antibody therapeutics

5 year drug development project based on the promise

of early-stage research

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Leadership Team

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COBRA™ Platform Pipeline

ExpectedQ1 2021

ExpectedH2 2021

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I/O Landscape: Enormous Unmet Need in Solid Tumors

Hematological Cancers Solid Tumor Cancers

Cancer Types Lymphoma, leukemia, myelomaBreast, lung, prostate, colorectal, melanoma, uterine & ovarian, kidney & renal, head & neck, pancreas, others

Therapies

• Bispecific T cell engagers- Blincyto® (blinatumomab)

• CAR-T - Kymriah® (tisagenlecleucel)- Yescarta® (axicabtagene

ciloleucel)

• Checkpoint Inhibitors - Opdivo® (nivolumab)- Keytruda® (pembrolizumab)- Yervoy® (ipilimumab)

Average Overall Response Rates

40 – 93%** 0.5 – 24%**

# of new cases* 174,000 = ~10% of all cancers 1,561,000 = ~90% of all cancers

* American Cancer Society, 2019** Based on efficacy data in prescribing information for each therapy listed

There are 900% as many solid tumor cancers as there are hematological cancers

mavericktx.com

T Cell Therapy in Solid Tumors = Game Changing Opportunity

THE OPPORTUNITY

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The Promise of T Cell Engagers

• T cell engagers significantly enhance immune response to tumors relative to antibody dependent cellular cytotoxicity (ADCC)

blinatumomab

rituximab100,000 fold

Dreier, et al. Int. J. Cancer, 2002Sp

ecifi

c Cyt

otox

icity

[%]

Antibody Concentration [ng/ml]

• T cell engagers are a class of bispecific antibodies (bsAbs) used for cancer treatment

• They are a fusion between tumor-targeting and T cell engaging recombinant antibody fragments

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B-cell counts of 20 patients treated with

blinatumomab

Klinger, et al. Blood, 2012

T cell engagers designed to treat B cell malignancies are tolerated, even though they transiently deplete normal B cells in patients

The Challenge of T Cell Engagers Beyond Hematological Cancers

T cell engagers bind cell surface targets regardless of whether expressed on the tumor or on healthy tissues

Healthy Tissue Tumor Tissue

T cell

For solid tumor targets, damage to healthy tissues by T cell engagers can result in significant toxicity & limits patient response by lowering the dose that can be safely administered

T cell engagers are more sensitive than IHC. Targets thought to be expressed uniquely on tumor, but not on healthy tissue, often still elicit a T cell response due to low-level expression

mavericktx.com

COBRA™: A Novel Conditionally Active Bispecific Antibody

THE MAVERICK SOLUTION

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Protease Activity Is Upregulated in Tumorsbut Not in Healthy Tissues

Protease Activity is Highly Regulatedin Healthy Tissue

1. Transcription

2. TranslationSecretionLocalization

Zymogen Active Protease

4. Inhibition

Protease + Inhibitor Complex

3. Activation

Increased Protease Activity in the Tumor Microenvironment

Adapted from Winer, et al. Mol Cancer Ther 2018

The COBRA™ platform takes advantage of the tumor’s unique proteolytic microenvironment for T cell activation

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COBRA™ = Conditional Bispecific Redirected ActivationαEGFR sdAb inactive VLαCD3 VH αEGFR sdAb inactive VHαCD3 VL αHSA sdAb

Protease Cleavable Linker8 a.a. 8 a.a.

COBRA™ Construct Design and Predicted Folding

Inactivated VH & VL domains pair with αCD3 VH & VL domains

min2.5 5 7.5 10 12.5 15 17.5 20 22.5

mAU

0

100

200

300

400

500

600

700

DAD1 A, Sig=280,2 Ref=off (JK180703 SEC lot 803 2018-07-03 11-14-55\005-P1-A5-Pro186 lot PL-0803.D)

14.

698

17.

004

15.

741

Monomer = 97.5%

Analytical Size Exclusion Chromatography

Predicted COBRA™ Folding

EGFR/MMP9 = MVC-101 = Maverick COBRA™ Program 1

Protein A and Preparative SEC purification

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MVC-101 Active Dimer

αCD3 agonist (dimer of αCD3 VH and VL )

Binds EGFRBinds CD3

MVC-101 Cleavage Products

αCD3 VH and VL

inactive VH and VL

Binds EGFRImpaired CD3 binding Binds serum albumin

+

MVC-101

Cleaved MVC-101 Dimerizes to Form the Active Molecule

Binds EGFRImpaired CD3 bindingBinds serum albumin

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COBRAs Are Predictive From Pre-Clinical to Clinical by Design

sdAb(monovalent EGFR binding)

MVC-101(bivalent EGFR binding)

Active MVC-101(tetravalent EGFR binding)

αEGFR KD (nM)

αEGFRKD (nM)

αCD3 KD (nM)

αHSAKD (nM)

αEGFRKD (nM)

αCD3 KD (nM)

Human 2.7 0.12 nb 11.3 <0.01 1.7

Cyno 6.3 0.14 nb 10.8 <0.01 2.4

Mouse nb* nb nb 106.3 nb nb*nb = no binding

• Binding kinetics to EGFR, serum albumin and CD3ε were assessed via the Octet system

Note: MVC-280 binds murine B7H3

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COBRA™ Mechanism of AcKon Video

https://www.mavericktx.com/technology/#our-scienceVideo available at:

mavericktx.com

MVC-101: MOA Validating Data

COBRA™ PLATFORM VALIDATION

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Activated MVC-101 Demonstrates Potent In Vitro Activity

HT29 Tumor CellsE:T 10:148 hours

0.0010.01 0.1 1 10

1001000

0.0

0.5

1.0

T cell Killing Assay

Concentration (pM)

Tum

or c

ells

- RL

U

MVC-NCLMVC-101MVC-101 Pre-Cleaved

200X(Non-cleavable)

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0 5 10 15 20 25 30 35 40 450

500

1000

1500

2000

SCC25

Days post initial dose0 5 10 15 20 25 30 35

0

500

1000

1500

2000

LoVo

Days post initial dose

Tum

or V

olum

e (m

m3 )

MVC-NCL - 100 µg/kgMVC-101 - 100 µg/kgMVC-101 - 20 µg/kgMVC-101 - 4 µg/kg

0 5 10 15 20 25 30 350

500

1000

1500

2000

HT29

Days post initial dose

MVC-101 Regresses Established Solid Tumors in Mice

Dosed every 3 days for 7 doses total

Cell Lines:

8,774 EGFR/cell 33,218 EGFR/cell 239,344 EGFR/cell

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0 24 48 72 96 120 144 1680.1

1

10

100

1000

10000

Time (Hours)

Pla

sma

Conc

(ng/

mL)

Pre-Cleaved MVC-101 - 100 µg/kgMVC-101 - 100 µg/kgMVC-NCL - 100 µg/kg

PK in non-tumor bearing mice

Cleaved MVC-101 Clears More Rapidly Than Intact MVC-101

MVC-101

MVC-NCL (Non-cleavable)

MVC-101Pre-Cleaved

0 5 10 15 20 25 30 350

500

1000

1500

2000

LoVo

Days post dose initiation

Tum

or V

olum

e (m

m3 )

MVC-NCL - 100 µg/kgMVC-101 - 100 µg/kgPre-Cleaved MVC-101 - 100 µg/kg

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Biol

ogic

al R

espo

nse

Leve

l

Log (exposure)

Preclinical Results Predict Increased Therapeutic WindowMVC-101 exposures at efficacious doses relative to tolerated doses predict an increased therapeutic window compared to inherently active T cell engagers

Inherently Active T Cell Engagers COBRA™ MVC-101

Log (exposure)

IncreasedTherapeutic

Window

30 - 100x

Validated by two gold standard methodologies in pre-clinical models for MVC-101 and MVC-280

Efficacious Dose

Maximum Tolerated

DoseBi

olog

ical

Res

pons

e Le

vel

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Clinical Development Strategy

PATH TO TREATING PATIENTS

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FDA’s recommended

starting dose

Biol

ogic

al R

espo

nse

Leve

l

Log (exposure)

COBRA™ Safety Mechanisms Enable Higher Star;ng Dose• Regulatory interaction reveals different philosophies

o FDA: Starting dose calculated based on safety aloneo Ex-US: Starting dose calculated based on safety and predicted efficacy

• COBRA safety features & robust pre-clinical safety package combined with an ex-US strategy allow Maverick to start at a higher dose

COBRA™ MVC-101

Ex-US recommended

startin

g dose

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• Begin US IND filing once sufficient safety data has been collected

• Run Expansion phase in Australia & US across 3-4 solid tumor indications

Phase 1: Dose Escalabon Phase 2: Dose Expansion

• Uflize ex-US Regulatory feedback to accelerate fme to potenfal signs of efficacy with higher starfng dose

Australia Australia & US

*Note: Starting dose recommendation and dose fold increases are estimates based on Regulatory feedback

Dose Level A

Dose Level B

Dose Level C

Cohort Dose Dose Level D

Dose Level E

Dose Level F

Dose Level G

Dose Level H

Dose Level I

Dose Level J

Dose Level K

Dose Level L

Solid Tumor Type 3N = 16-20

Solid Tumor Type 2N = 16-20

Solid Tumor Type 1N = 16-20

FDA Ex-US

Dose Level F

Dose Level G

Dose Level H

Dose Level I

Dose Level J

Dose Level K

Dose Level L

Incr

easin

g Do

se*

Projected Ph 2 Dose

Star]ng Dose Recommenda]on*

Sub-therapeutic Dose

TherapeuGc Dose Range

Clinical Development: Speed to Proof of Concept

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EGFR Is Expressed on a Wide Range of Solid Tumors

Head and Neck Squamous Cell

Carcinoma (HNSCC)Colorectal Cancer (CRC) Non-Small Cell Lung

Cancer (NSCLC)

EGFR Expression Levels

Constitutively high in all subtypes1

High in KRAS mutant and wildtype2

High and consistent in EGFR mutant3

Line of Therapy• ≥ 3rd line• Potential 2nd line with

PD-1 entering 1st line

Currently very limited options in ≥ 3rd line KRAS mutant (50-60%) and wildtype

• Limited treatment options after EGFR-mutant TKI failures

• PD-1 not a factor

Standard of Care Objective Response Rate

Keytruda® (pembrolizumab)4

16%

Stivarga®(regorafenib)5

1%

Taxotere®(docetaxel)6

15%

1. Zimmerman M, et al. (2006), Radiat Oncol, 10.1186/1748-717X-1-112. Callisia C, et al. (2015), Journal of Gastrointestinal Oncol, 6(6):660-6673. Mascaux C, et al. (2011), Clin Cancer Res, 24:7796-8074. https://www.merck.com/product/usa/pi_circulars/k/keytruda/keytruda_pi.pdf5. http://labeling.bayerhealthcare.com/html/products/pi/Stivarga_PI.pdf6. https://www.accessdata.fda.gov/drugsatfda_docs/label/2013/020449s071lbl.pdf

• EGFR-expressing solid tumors include but are not limited to colorectal, head & neck, renal, pancreaYc, cervical and non-small cell lung cancers

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COBRA™ Pipeline

SINGLE FOCUS ON DEVELOPING T CELL ENGAGING THERAPIES

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COBRA™ Platform Pipeline

ExpectedQ1 2021

ExpectedH2 2021

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Maverick Achievements and Outlook

ü Designed a condifonally acfve, highly potent T cell engaging plajorm focused exclusively on solid tumor applicafon, called COBRA

ü Demonstrated protease mediated-linker cleavage increases COBRA directed T cell killing potency by up to 200-fold in vitro

ü Demonstrated COBRA-mediated regressions of established solid tumors in xenograk-bearing mice in mulfple in vivo models

ü Validated that COBRA acfvity is dependent on tumor microenvironment mediated COBRA acfvafon

ü Established the circulafng half-life of lead candidate MVC-101 allows for a weekly dosing regimen

ü Demonstrated built-in safety design; once proteolyfcally acfvated, MVC-101 is more rapidly cleared from the peripheral blood

ü Efficacy and exploratory safety studies validate the COBRA mechanism of acfon and establish a 30-100x increase in the therapeufc window relafve to standard inherently acfve T cell engagers

ü Established next generafon dual targefng in vitro proof of concept

ü First-in-class programs with best-in-class design

Ø Presentation of MVC-280 data at several conferences

Ø COBRA publication in high impact journal

Ø Disclosure of additional COBRA pipeline lead candidates

Ø Initiate MVC-101 Phase 1/2 Dose Escalation (Q1)

Ø Initiate MVC-280 Phase 1/2 Dose Escalation (H2)

Ø Demonstrate next generation COBRA efficacy in vivo

Achievements Outlook

2020

2021

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Thank You