June 2016

CORPORATE PRESENTATION

JUNE 7, 2016 2

This document has been prepared by ADOCIA (the "Company") and is provided for information purposes only.

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contained in any forward-looking statements include the uncertainties relating to research and development, results of clinical trials, success of the Company’s collaboration agreements and decisions by

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Disclaimer INTRO

JUNE 7, 2016 3

Management Team ADOCIA

Gérard Soula PhD, MBA

Olivier Soula PhD, MBA

Valérie Danaguezian Rémi Soula PhD, MBA

Steve Daly

President & CEO

Co-founder

Deputy General Manager,

R&D Director

Co-founder

Chief Financial Officer Director of BD & IP

Co-founder

US General Manager

JUNE 7, 2016 4

Corporate Fact Sheet ADOCIA

Founded in 2005 by Gérard, Olivier & Rémi Soula

Focused on Diabetes treatments

Specializes in the development of innovative formulations of already-approved therapeutic proteins

Established expertise in insulin formulation

120 employees – 44PhDs

Portfolio based on BioChaperone proprietary platform

4 programs in clinical development

1 partnered with Eli Lilly

$22Bn3 global insulin

market

€400M market cap

(June 1, 2016)

415M1 people with

diabetes

25M2 insulin users

€62.4M cash position

1 International Diabetes Federation, Diabetes Atlas 2015 ; 2 Novo Nordisk estimates, 2016 ; 3 Adocia’s estimates, based on major player’s annual reports 2015

Preclinical Phase I/II Phase III

BC Lispro U100

BC Lispro U200

HinsBet U100

HinsBet U500

BC Combo

BioChaperone® Insulins – Diabetes

BioChaperone® PDGF-BB – Diabetic Foot Ulcer

BioChaperone® Glucagon – Diabetes & other indications

A portfolio of “super-biologics” focused on diabetes ADOCIA

~$5.7 bn

~$0.8 bn

~$4.7 bn

~$0.4 bn

Market Opportunity

5

Next Catalyst

$570M deal - $60M received $270M development milestones

remaining

Phase 2a expected results Q3 16

2 Phase 2a expected results Q1 17

1st in man Q1 17

Phase 3 expected results Q3 16 (India)

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Adocia’s innovation could fill gaps in the diabetes portfolios of major players

ADOCIA

BC Glucagon

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Exclusive worldwide license for BioChaperone Lispro U100 & more concentrated formulations (U200)

$570M deal + tiered royalties on sales

Lilly responsible for future development, manufacturing, and commercialization

Lilly reimburses Adocia for certain R&D expenses

Since December 2014:

4 successful Phase 1b clinical studies (meal test, repeated admin T1D, repeated admin T2D, PK/PD in Japanese patients)

1 successful Pilot bioequivalence study (BC Lispro U200 vs. BC Lispro U100)

Triggered $10M payment from Lilly 1 ongoing Phase 1b clinical study (pump study in T1D)

Validating partnership with Eli Lilly ADOCIA

$570M deal

$270M development

MS

$240M sales MS

$10M U200

milestone $50M upfront

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BioChaperone unlocks the potential of proteins ADOCIA

BioChaperone Protein Complex

BioChaperone Lispro Faster diffusion & action

BioChaperone Combo Solubilisation of insulin glargine

at neutral pH

BioChaperone PDGF Protection against proteases

BioChaperone Glucagon Stabilisation at neutral pH

Library of more than 400 BioChaperone molecules

Strong IP protection (molecules, complexes,

formulations) with 30 patent families

Potential for medical and economic advantages

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Insulin treatment is a staple for both types of diabetes DIABETES

25M Insulin users

70% T2D

Basal + Prandial insulin

Basal insulin 1st

Intensification using

Prandial insulin

or

30%

T1D

JUNE 7, 2016 10

Insulin treatments aim to mimic different components of the healthy insulin secretion profile

INSULIN

Insulin secretion Insulin therapies action profiles

$7 B

$11 B

$5 B

BIOCHAPERONE LISPRO ULTRA RAPID INSULIN

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Ultra-rapid insulins benefit various patient populations BC LISPRO

BIOCHAPERONE LISPRO

BC Lispro U100

BC Lispro U200

Dosing at or after mealtime

Tighter glycemic control

Ultra-rapid benefits with a reduced

injection volume

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Faster insulin action of BC Lispro translates into significantly improved glycemic control

BC LISPRO

U100

Liquid meal

0.2 U/kg insulin

AUC0-1h: +52%* AUC0-2h:

Insulin exposure Post-Prandial Glucose

Trial in 38 subjects with type 1 diabetes (NCT#02213146) ; *CI-95% for LSM ratio

-61%*

JUNE 7, 2016 14

Ultra-rapid concentrated BC Lispro U200 displays bioequivalent profile

BC LISPRO

U200

BC Lispro U200 met FDA-defined criteria for

bioequivalence

Both U100 & U200 dossiers could be filed

simultaneously

$10M milestone payment from Lilly (Dec. 2015)

BC Lispro U200 could be the 1st ultra-rapid

prandial concentrated insulin

Serum Insulin

Trial in 26 healthy volunteers (NCT#02529293)

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Ongoing pre-Phase 3 program, in partnership with Lilly, aims to document BC Lispro U100 performance in different diabetic populations:

Repeated administration in T1D – successfully completed (March 14, 2016)

Repeated administration in T2D – successfully completed (April 27, 2016)

Study in Japanese healthy subjects – successfully completed (May 31, 2016)

Insulin pump therapy in T1D – Results expected Q3 2016

Lilly has announced potential phase 3 initiation of ultra-rapid insulin in 2016

BC Lispro clinical program BC LISPRO

HINSBET: A BETTER HUMAN INSULIN COST-EFFECTIVE RAPID ACTING INSULIN

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HinsBet: A cost-effective prandial treatment option for everyone, everywhere

HINSBET

HinsBet U100

HinsBet U500

HINSBET

Dosing closer to mealtime

Lower injection volumes with closer to mealtime dosing

Cost-effectiveness of human insulin

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HinsBet could be a cost-effective alternative to prandial insulin analogs

HINSBET

Ongoing Meal Test Study

36 people with T1D

Results expected Q3 16

Early Glucose Infusion Rate (U100)

Trial in 36 subjects with type 1 diabetes (NCT#02213146).

BIOCHAPERONE COMBO AN IMPROVED ALTERNATIVE TO PREMIX

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BC Combo: A true combination of two gold standard insulins - Glargine as basal and Lispro as prandial

BC COMBO

Lispro Humalog®

Glargine Lantus®

BioChaperone Combo

6 10 14 18 22 2 6 6 10 14 18 22 2 6

6 10 14 18 22 2 6 6 10 14 18 22 2 6

Once-a-day

Twice-a-day

6 10 14 18 22 2 6

vs. Premix insulin

Twice-a-day

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BC Combo: Achieving strong basal and prandial control in a simple two-in-one option

BC COMBO

BIOCHAPERONE COMBO

Simple regimen with better PPG

and FPG than premix

Similar control with fewer

injections than basal +1

Less risk of hypoglycemia as a QD or BID

regimen

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BC Combo: Better post-meal glucose control compared to Humalog® Mix75/25TM in type 1 diabetes

BC COMBO

T1DM

Post-Prandial Blood Glucose in T1D4 (meal test)

Glucose Infusion Rate in T1D (clamp)1

AUC0-2h: +58%2

AUC12-30h: +57%3

1Trial in 20 people with T1D (NCT#01981031); 2 p=10-3;3 p=0,025 4Trial in 28 people with T1D (NCT#02514954); 5 p=3.10-3;6 p=8.10-3

BGmin: +30%6

Individualized doses

Delta AUC0-2h : -24%5

Faster

Longer

JUNE 7, 2016 23

BC Combo confirmed its excellent profile in people with type 2 diabetes

BC COMBO

T2DM

1Trial in 24 people with T2D (NCT#02514850); 2 p=10-4;3 p=0,0105 ; 4 p= 0. 5227 ; 5 p= 0.6747 ; 0.8 U/kg (0.2 prandial+0.6 basal)

AUC0-2h: +XX%2

AUC24-30h: +XX%3

Same AUC0-2h4

Glucose infusion rate Glucose infusion rate

AUC 0-2h: +65%1

JUNE 7, 2016 24

Two studies will be launched Q3 16. Results expected Q1 2017

Confirm improved post-prandial glucose control in people with T2D: Meal Test study vs. Premix and Basal Insulin

Demonstrate full-day coverage at steady-state in people with T2D

Simplified development plan relying on existing data for glargine and lispro

Preparation of meetings: pre-IND (FDA) & scientific advice (EMA) to validate the development plan

Adocia intends to consolidate BC Combo’s promising product profile to prepare for Phase 3

BC COMBO

BIOCHAPERONE PDGF A CONVENIENT SPRAY FOR DFU

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>50% Rate of

reoccurrence at 3 years2

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Diabetic foot ulcer: A devastating disease BC PDGF-BB

15% of diabetic patients will develop a DFU1

1M amputations

each year1

Chronic hyperglycemia leads to neuropathy and ischemia, which both contribute to the risk of diabetic foot ulcer

Standard of care is established, but unsatisfactory

Debridement, off-loading, infection management, moisturizing

Further therapeutic interventions remain questionable

Regranex (PDGF-BB) was the only approved biologic product in US & Europe, but with a limited uptake

1Wounds Internationnal 2013, 2 Boulton JM, Diabetes Microvascular Complications Today, 2006

JUNE 7, 2016 27

BC PDGF-BB: A cost-effective first-line treatment for diabetic foot ulcer

BC PDGF-BB

Easy to use and convenient

Applied once every two days

Ready-to-use spray

Sterile without preservatives

Multi-uses for 6 weeks

Stable up to 3 mo. at 30°C / 30 mo. at 5°C

Cost effective

1/3 of PDGF dosage vs. Regranex®

Reduced cost of treatment due to reduced dosage and frequency of application

Phase I/II study (India)

Incidence of complete wound closure after 20 weeks of treatment

79%

38/48 66%

31/47

Regranex BC PDGF-BB

Trial in 192 patients with a DFU (neuropathic or neuroischemic), NCT#01098357

JUNE 7, 2016 28

BC PDGF-BB: A dual development pathway BC PDGF-BB

Positive Phase 1/2 INDIA

DFU

Ongoing Phase 3 INDIA

Phase 3 USA

Planned H1 2017

Phase 3 EUROPE

Planned H1 2017

Results Q3 16

EMA-validated short development

Seek approval INDIA + 10 countries

(Asia, S. America, Africa)

Completed

Ongoing

Planned

WHO-GMP PDGF

cGMP PDGF

Go/No Go decision

BC GLUCAGON A STABLE SOLUTION OF GLUCAGON

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Insulin and glucagon are the main antagonist hormones regulating blood glucose levels

DIABETES

Blo

od

glu

cose

co

nce

ntr

atio

n

INSULIN

HYPERGLYCEMIA

HYPOGLYCEMIA

GLUCAGON

JUNE 7, 2016 31

Stable liquid glucagon is needed to address different hypoglycemia-related indications

BC GLUCAGON

BIOCHAPERONE GLUCAGON

Stable and soluble at ph7

Ready-to-use

prefilled pen

Hypoglycemia Rescue

Dual Hormone Artificial Pancreas

Congenital hyperinsulinism

Orphan disease

Chronic

hypoglycemia

JUNE 7, 2016 32

BC Glucagon: Preliminary preclinical results and development plans

BC GLUCAGON

BC Glucagon is soluble and stable at pH 7

Preliminary preclinical data shows similar PD performance to commercial glucagon

First-in-man study expected to start H1 17

Preclinical study in 12 farm pigs. Fasted animals were injected with octreotide to inhibit endogenous glucagon production. Glucagen resonstituted ex-temporane

Change in blood glucose

Key financial elements FINANCE

Shareholders’ equity

Listed on Euronext Paris (ADOC)

6.8M shares outstanding

ADR program in the US (ADOCY)

Market Cap €400M (June 01, 2016)

Well capitalized €64.2M cash position (March 31, 2016)

€80M raised since inception

Long term debt:

€0.9M loan from BPI France (refundable in case of success)

€5.9M bank loan for purchase of Lyon headquarters building

Analysts

Bryan, Garnier & Co (Eric Le Berrigaud) Kepler Market (Arsène Guekam) Invest Securities (Martial Descoutures) Leerink (Seamus Fernandez) Jefferies (Peter Welford) Oddo (Sébatien Malafosse – Pierre Corby)

Corporate facts

Founded in 2005 by Gérard, Olivier & Rémi Soula

Headquartered in Lyon, France

US subsidiary

120 employees, 44PhDs

Financial summary

33

JUNE 7, 2016 34

INSULIN

BC LISPRO

Ongoing Phase 2a CSII results : Q3 16

Lilly has announced potential phase 3 initiation of ultra-rapid insulin in 2016

$270M in potential remaining development milestones

BC COMBO

2 new Phase 2a planned in T2D: Q1 17

HINSBET

Ongoing Phase 2a study results: Q3 16

Upcoming catalysts ADOCIA

NON-INSULIN

BC PDGF

Ongoing Indian Phase 3 results: Q3 16

BC GLUCAGON

First-in-man study planned: Q1 17

JUNE 7, 2016 35

Specialists in protein-based diabetes treatments

Low-risk business model – Biochaperone platform enhances already approved proteins to create new therapeutic options and new markets

Eli Lilly partnership provides near term milestones and revenues

Strong pipeline with multiple Phase II and Phase III trial results expected in 2016

Proven management team with successful track record

Well capitalized with €64M in cash

ADOCIA in summary SUMMARY

ADOCIA 115 avenue Lacassagne 69003 Lyon – France Tel +33 4 72 610 610 contact@adocia.com

THANK YOU FOR YOUR KIND INTEREST