Marine Technology Summit November 16, 2010

1. Marine Technology SummitNovember 16, 2010 Nereus Pharmaceuticals Discovering and Developing New Medicines from Marine Microbes Ken Lloyd, Ph.D. Chief Scientific Officer 1

2. Marine Technology SummitNovember 16, 2010 Marine Microbiology: Paths to Success • Natural Product • Mother Nature best chemist • Derivative of Natural Product • Analogue Chemistry • Precursor Manipulation • Gene Strategies • Marizomib (NPI-0052) • Better characteristics than >60 analogs • Late Phase 1 • Multiple Myeloma • Lymphomas • Plinabulin (NPI-2358) • Better profile than >200 analogs • Late Phase 2 • Non small cell lung cancer • Other solid tumors 2

3. Marizomib: Second Generation Proteasome Inhibitor with Best-in-Class Properties Marizomib (NPI-0052) Key Points • Unique structure as compared to synthetic competitors • Potent, broad spectrum proteasome inhibitor • Highly selective for proteasome activities as compared to other proteases • Marizomib has commercially relevant benefits secondary to unique structure • Superior safety profile • Superior efficacy (Velcade resistant tumors) • Potential for oral, sc, or sublingual • Significant market opportunity in validated indications with considerable upside in other large market indications H H O H H O N O O H C H 3 • 5 chiral centers • 17-step chemical synthesis • 1-step fermentation C l

4. Marizomib: Clinical Summation • Excellent clinical safety profile with high levels of proteasome inhibition • Excellent pharmacodynamic results translating from bench to clinic • Proof of mechanism milestone achieved • Anti-tumor activity seen in clinical trials

5. Cutaneous Marginal Zone Lymphoma Patient Treated with Marizomib Weekly at 0.7 mg/m2 Baseline Cycle 4 Day 22 • Prior Treatments (2006-2009): • Hyper-CVAD • ASCT (Bu-MEL) • XRT (TSEB & IF) • Rituximab • Complete Response – Biopsy Confirmed • Continued Complete Response - • Cycle 4 through Cycle 15

6. Plinabulin: A Novel, Potent and Highly Selective VDA with First-in-Class Potential Plinabulin; NPI-2358 Themes • On track to be the next major advance in the treatment of multiple cancers after success of angiogenesis inhibitors • Major improvements over: • Anti-angiogenesis agents • Anti-microtubule cytotoxic agents • Unique safety and efficacy profiles, synergy and utility in unmet need populations • Novel plinabulin structure likely responsible for advantages • Significantly improved safety profile • Potent and selective vascular disruption + direct apoptotic effect to improve efficacy • one of >250 analogues of the natural product • Potency >40 fold natural product • Straightforward synthesis

7. Plinabulin: Clinical Summation • Excellent clinical safety profile vs other VDAs and other approved oncology drugs • CNS/Neurological • Cardiac • Decreases docetaxel induced neutropenia • Major adverse effect of docetaxel, a major chemotherapeutic in the treatment of NSCLC • Exceptional pharmacodynamic results (decrease in tumor blood flow) • Single agent clinical benefit rate of 30% in solid tumors • Durable; up to 2 years • Impressive early signal in 2nd line NSCLC study

8. Marine Technology SummitNovember 16, 2010 Other low-hanging fruit for drug discovery from marine microbiology • Antiinfectives • Major antibiotic discovery effort ongoing at SIO/UCSD • Antifungals • Antivirals • Metabolic diseases, cardiovascular diseases

9. Thank you!