BiomX : Corporate Presentation

Company Introduction

Safe Harbor Statement

This presentation contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: "target," "believe," "expect," "will," "may," "anticipate," "estimate," "would," "positioned," "future," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on BiomX management's current beliefs, expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. You should review additional disclosures we make in our filings with the Securities and Exchange Commission (the "SEC"), which are available on the SEC's website at www.sec.gov.

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Mission Statement

We develop precision medicines using both natural and engineered phage cocktails targeting harmful bacteria in chronic diseases and conditions such as acne, Inflammatory Bowel Disease, liver disease and cancer.

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Unique Position as Leader in Phage Technology

Technology

Pipeline

Exclusive access to novel targets

Partnerships

Leading life science and strategic investors

• Phage discovery platform
• Proprietary synthetic biology capabilities
• Cutting-edgedata science
• In-housemanufacturing of customized phage cocktails
• Initial 4 programs: acne, IBD, PSC (a liver disease), colorectal cancer
• Phase I data in acne expected in Q1 2020
• Phase I data in IBD expected in H2 2020
• Phase I/II data in PSC expected in 2021
• Proprietary targets in IBD and PSC
• Target discovery and validation platform steered by cutting-edge research of scientific founders
• Acne collaboration with leading global cosmetic company
• Biomarker discovery in IBD for key Janssen (J&J) IBD drug
• On Oct. 2019 publicly listed (NYSE:PHGE) through a merger with $60 million at closing

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Credentialed Leadership Team

Management Team

Jonathan Solomon I CEO and Board Member

Assaf Oron I CBO

ChondroSite

Sailaja Puttagunta, MD I CMO

Merav Bassan, PhD I CDO

Scientific Founders

Prof. Rotem Sorek

Prof. Eran Elinav

Prof. Timothy K. Lu

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Credentialed Leadership Team

Board of Directors

Russell Greig, PhD

Rob Woodman, PhD

Erez Chimovits

Jonas Grossman

Gbola Amusa, MD

Yaron Breski

Lynne Sullivan

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Growing Evidence of Role of Harmful Bacteria in Acne and Chronic Diseases

PSC

Klebsiella pneumoniae strains induce leaky gut and initiate liver inflammation and fibrosis

Nakamoto et al. (2019),

Nature Microbiology

Colorectal cancer

Reducing Fusobacterium load

results in reduced cancer cell proliferation and tumor growth

Bullman et al. (2017),

Cell

Acne

Propionibacterium acnes is associated with acne vulgaris

Fitz-Gibbon et al. (2013),

J Invest Dermatology

IBD

Klebsiella pneumoniae strains cause aberrant activation and stimulation of the immune system

Atarashi et al. (2017),

Science

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Phage: Nature's Precision Targeting Vector

Phage bind only to specific	Phage have an amplifying lifecycle
bacterial strains

1 Locate

2 Inject

3 Infect

4 Multiply

5 Assemble

6 Eradicate

7 Seek

Source: Kortright et al. (2019), Cell Host & Microbe

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Innovative Phage Technology Platform

Phage Hunting

• Sample sourcing
• Automated sample processing
• SynBio prophage extraction

Customized

Phage Cocktail

Cocktail Optimization

Phage Engineering

(SynBio)

• Applied selectively when required
• Includes : Host range expansion,
  lysogenic to lytic conversion, payload incorporation

• Multi-dimensionaloptimization in vitro and in vivo for characteristics such as: host range, resistance and biofilm degradation

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Proprietary Synthetic Biology Capabilities

Expanding phage host range

against multiple targets

Phage C

Phage A Phage B

Phage synthetic

engineering KP2

KP2 KP7

2 different

bacterial targets7

KP

Source: Internal experiments

Switching phage mode of action

from lysogenic to lytic

Lysogenic to lytic

Repressor deletion

LysogenicLytic

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Pipeline

Phage discovery	Preclinical	Phase I	Phase II
Product Candidates
Acne • BX0011		• Phase I results expected 1Q20
	• Phase II results expected 2H20
IBD • BX002		• Pre-IND meeting held 2H19
	•	Phase I results expected 2H20
PSC • BX003		• Pre-IND meeting expected 2H20
	•	Phase I/II results expected 2H21

Colorectal cancer

Biomarker discovery	Validation	Development

Diagnostics

IBD (responder/ non-responder)

Partners

Global cosmetics company

(1) BX001 is intended to be developed and commercialized as a cosmetic

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Acne • BX001 Natural Phage Cocktail Attributes

• Active against 96% of tested P. acnes clinical strains (in- vitro)

• Active against antibiotic-resistant strains (in-vitro)
• Self-amplifying:50-100 phage per bacteria killed
• Penetrates biofilm (in contrast to antibiotic erythromycin)
• Highly specific: Does not affect other skin microbiome bacteria
• Proprietary gel formulation

BX001

A topical gel containing natural phage against P. acnes to modulate skin microbiome

Sources: Internal experiments;

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Acne • BX001 Preclinical Results

BX001 eradicates P. acnes (in-vitro)

Phage cocktails penetrate biofilm (in-vitro)

	1.2
	1	Untreated
Density	0.8	acne strain
0.6
Optical
0.4			BX001
	0.2
	0
	0	30	60	90	120	150
				Hours

Source: Internal experiments

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Acne • BX001 Preclinical Results

Release of active phage from BX001 gel		Release of active phage from BX001 gel on P. Acnes - artificially
on P. acnes bacterial lawn eradicated P. acnes		infected human skin

P. acnes lawn

Bacterial reduction on P. acnes-colonized human skin

after BX001 gel application

10000.00

*

*

2

1000.00

cfu/cm

100.00

10.00

1.00

Single application Repeat application

Single application Repeat application

Black:

Where gel with BX001 was applied

Placebo

Formulated

BX001

Red:

Area of phage activity (eradicated P. acnes)

*P<0.05

Source: Internal experiments

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Acne • BX001 Clinical Trial Design

Phase I - ongoing*

Phase II - planned

4-week study (placebo-controlled)

• Objectives
• • Safety
• Exploratory endpoints
• • Reduction of P. acnes (efficacy)
  • Skin microbiome evaluation
  • Lesion numbers (efficacy, trend)
• 75 patients total over 3 cohorts
• • 2 doses + 1 placebo (vehicle)
  • 25 patients per cohort

12-week study (placebo-controlled)

• Objectives
• • Safety and efficacy
• Endpoints
• • Reduction of P. acnes (efficacy)
  • Skin microbiome evaluation
  • IGA and lesion numbers (efficacy)
• 100 patients total over 2 cohorts
• • 1 dose + 1 placebo (vehicle)
  • 50 patients per cohort

Phase I

Phase II

2Q19

3Q19

4Q19

1Q20

2Q20

3Q20

4Q20

*An additional smaller single blinded, single application, placebo-controlled clinical trial to evaluate alternative methods of topical application is being conducted and expected to be completed in 1Q2020.

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IBD • Targeting Harmful Pro-inflammatory Klebsiella

Strains

Pro-inflammatoryKlebsiella strains

affect IBD pathology

Klebsiella

strains	Disease state

Inflammatory induction is seen in GF mice*

GF + 7 other mix		GF + target strain
				TH1
IFN-g		IFN-g

GF - Germ Free

Higher abundance of Klebsiella strains in IBD patients

Induce

inflammation

Abundance of Klebsiella strains

% relative

CD - Crohn's disease

UC - Ulcerative colitis

Activity of bacterial target confirmed by BiomX

Source: Atarashi et al. (2017), Science

• TH1 - A lineage of CD4+ effector T cell secreting IFNg and TNF. In IBD, TH1 cells accumulate in the intestinal tract of IBD patients and are directly associated with disease

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PSC • Klebsiella Identified as Novel Pathobiont*

		Th17** is induced in livers of GF mice		KP isolated from
			mice's lymph nodes
		inoculated with fecal samples from
			colonized with
		PSC patients
Discovery approach			patient samples

		GF mice
		Analysis of
Fecal	samples from	Humanized
PSC patients	microbiota mice	immune response

Healthy	PSC patients	Colitis patients	Klebsiella pneumoniae
			plays a gating role
			SPF - Specific-pathogen-free
			HC - Healthy Controls
			PSC/UC - PSC and ulcerative colitis

Klebsiella pneumoniae (KP) is a specific gut pathobiont of PSC that is an intestinal barrier disrupter and is pro-inflammatory ("leaky gut")

Source: Nakamoto et al. (2019), Nature Microbiology

• Pathobiont - potentially pathological organism that under normal conditions lives as a non-harming symbiont **TH17 - A lineage of CD4+ effector T cell secreting IL17A+, promoting inflammation and fibrosis within the liver

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PSC • Bacterial Pathogens Contribute to Orphan

Liver Disease

PSC (primary sclerosing cholangitis)

Stricture of bile ducts impedes bile flow to intestines and gradually leads to cirrhosis of liver and liver failure

• ~30,000 US patients
• 10-15years until liver transplant is required
• No existing therapy to avoid eventual liver transplant

• Evidence that manipulation of microbiome impacts the disease
• Abnormal high abundance of bacteria found in bile fluid of patients
• Most PSC patients suffer from ulcerative colitis

Hepatology. (2013) Dec;58(6):2045-55,UpToDate, MedScape Hepatology. (2013) Dec;58(6):2045-55,UpToDate, MedScape

Source: NEJM 2016, PSC Review, LaRusso and Lazaridis

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IBD • BX002 Cocktail Designed to Address Resistance

by Using Phage Cocktails

How a phage cocktail overcomes resistance

Phage cocktail

Bacteria target

Phage cocktails are rationally optimized to prevent resistance by targeting multiple bacterial receptors and defense mechanisms

Infection dynamics of phage cocktails (in vitro)

	Comparing various phage cocktail combinations
Density		Sub-optimal cocktails:
(no phage)	Resistant strains
Optical
	Optimized cocktails:
		No-resistant strains

Source: Internal experiments

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IBD • BX002 Cocktail Composition Drives Activity

1st-generation phage cocktail

(in-vivo)

Fecal bacterial load

		Application of phage
	1010	*
stool	108
106	Control
CFU/gr	104	1st-gen cocktail
LOD

102

100

0

2

4

6

8

10

Day from inoculation

*P < 0.01

2nd-generation phage cocktail (in-vivo) reduces bacterial load

Fecal bacterial load	Mucosa
Application of phage
Adding 2
phages with	** Control	*
new MOA
	2nd-gen
	cocktail
	Control	Phage cocktail
*P<0.05 ; **P < 0.001

Source: Internal experiments

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IBD • Planned Clinical Development - Phase 1

Study	Phase 1a/b
	▪	Primary:
		• Safety and tolerability of orally-administered BX002
	▪	Secondary:
Study objectives		• Reduction of target bacteria levels in stool
		• Evaluation of microbial composition in stool
	▪	Exploratory:
		• Local inflammatory
Population	▪	Target bacteria carriers - patients or healthy individuals
	▪ 30-45 patients across 3 cohorts
Cohorts	▪	2 dose levels + placebo (vehicle)
	▪ 10-15 patients per cohort
Treatment route,	▪	Oral route
duration	▪	4 weeks, daily administration

Patient A

Stool test

Specific qPCR	Target
bacteria
companion
diagnostic

Phage treatment BX002

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CRC • Most Colorectal Cancer (CRC) Patients

Do Not Respond to Immunotherapy

	Immune	=			Immune	=
"Cold" tumor	+ checkpoint	Effect	"Hot" tumor	+ checkpoint	Effect on
	inhibitors		on tumor		inhibitors		tumor

Sources: Vareki (2018), Journal for immunotherapy of Cancer; Galon et al. (2019), Nature Reviews/Drug Discovery

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CRC • Bacteria Residing Inside Tumors Offer a Novel

Targeted Intervention to "Uncloak" Tumors to "Hot"

Numerous observations of bacteria residing inside tumors

F. nucleatum

bacteria

Tumor

Bachrach et al. (2016), Cell Host & Microbe

Kostic et al. (2013), Cell Host & Microbe

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CRC • IV Delivery of Phage to Intra-tumor Bacteria has

been Demonstrated

Experimental outline	Results - Mice tumor qPCR analysis
+ / -	+ / -
F. nucleatum	Phage

CT26 SC

inoculation

Termination: 24h after IV administration of phage,

followed by qPCR analysis of the tumor for presence of

phage and F. nucleatum

Detection of lysogenized intra-tumorF. nucleatum demonstrates phage delivered IV reached bacteria within tumor microenvironment and integrated stably into host bacteria genome

Source: Internal experiments

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CRC • Engineered Phage Designed to Bring Immune- stimulating Payload to Bacteria in Tumors

Phage are designed to carry payload

targeting intra-tumor bacteria

Phage cocktail

Phage cocktail with a payload turns cold tumors into hot

Add payload using SynBio

Phage cocktail

	Immune	=
"Cold" tumor	+ checkpoint	Effect on
	inhibitors		tumor

"Cold" tumor

+ new gene

Phage cocktail

IV

	Immune	=
"Hot" tumor	+ checkpoint	Effect on
	inhibitors		tumor

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Key Catalysys

	1H19	2H19	1H20	2H20	1H21	2H21
Acne	Mfg.	Phase I	Phase I	Phase II	Prep large-	Prep large-
started	Results	results	scale mfg.	scale mfg.
IBD	Phage	Pre-IND	Mfg.	Phase I	Phase II	Interim
cocktail	meeting	results	starts	results
PSC	Phage	Phage	Phage	Pre-IND	Phase I/II	Interim
discovered	cocktail	cocktail	meeting	starts	results

Cash and cash equivalents as of Nov. 29th 2019: $85 million

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Thank you