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Investor Presentaiton

Research framework provides confidence in new programs: novel CNS penetrant TYK2 inhibitor for Multiple Sclerosis (MS) Transformational potential First-in-class, oral, CNS penetrant TYK2 inhibitor with direct anti-inflammatory effects in the CNS to treat neuroinflammatory neurodegenerative disorders. Causal human biology Mechanism is supported by human genetics (P1104A loss-of- function variant), human pathology, clinical fluid biomarkers. Microglia Astrocytes Lymphocytes Mean clinical score Matching modality to mechanism ▲ Wild Type ■Heterozygous ▼ Homozygous BMS TYK2i-CNS Phenocopies P1104A LoF in EAE No EAE control P1104A LOF TYK2 Variant Protects in EAE Model of MS 4.01 3.5 EAE vehicle control 3.0 EAE CNS-TYK2i #1 2.5 2.0 1.5 1.0 0.5 INS vs. PO tr. started on day -3 score of 0.0 0 2 4 6 8 10 12 14 16 Days after Immunisation @ 2 4 6 8 10 12 14 16 18 20 22 Days after Immunisation adapted from Dendrou, 2016 Mean Clinical Score (SEM) EAE CNS-TYK2i #2 phenocopies P1104A pSTAT3 pSTAT3, an indicator of TYK2 activation, is increased in key inflammatory cells of the brain in multiple sclerosis#. Path to clinical proof-of-concept Achieve CNS drug exposure to inhibit CNS TYK2 by at least 70% consistent with pre-clinical data in the EAE mouse model (above) and quantitative systems pharmacology modeling of SOTYKTU in psoriasis and SLE. Sci Transl Med 2016 Nov; 8(363): 363ra149 Ill Bristol Myers Squibb™ # Lu et al, J Neuropathol Exp Neurol 72:1135 (2013); Dendrou et al:Sci Transl Med 2016 Nov 2;8(363):363ra149. doi: 10.1126/scitranslmed.aag1974 Not for Product Promotional Use 20 20
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