Modalis Therapeutics : Business Plans and Matters Related to High Growth Potential

English translation for reference purposes only

FY2021

Business Plans and

Matters Related to High Growth Potential

In case of any discrepancy, the Japanese version shall prevail

（TSE4883）

Modalis therapeutics Corporation

November 15 , 2021

Copyright and proprietary to Modalis

Disclaimer

This document has been prepared by Modalis Therapeutics corporation and Modalis Therapeutics Inc. (the "Companies") solely for information purpose only. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Companies in Japan, the United States or any other jurisdictions. The information contained herein is based on current economic, regulatory, market trends and other conditions. The Companies make no representation or guarantee with respect to the credibility, accuracy or completeness of the information herein. The information contained herein may change without prior notice. You may not publish or use this document and the contents thereof for any other purpose without a prior written consent of the Companies. Furthermore, the information on future business results are forward-looking statements. Forward-looking statements include but not limited to expressions such as "believe", "expect", "plan", "strategic", "expect", "anticipate", "predict" and "possibility", as well as other similar expressions to explain future business activities, achievements, events and future conditions. Forward-looking statements are predictions about the future that reflect management's judgment based on currently available information. As such, these forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Therefore, you may not rely entirely on forward-looking statements. The Companies do not assume any obligation to change or correct any forward- looking statements in light of new information, future events or other findings.

This document and its contents are confidential and are being provided to you solely for your information and may not be retransmitted. This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. In giving this presentation, the Companies do not undertake any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent.

Information on companies other than the Companies and information provided from third parties are based on public information or sources. The Companies have not independently verified the accuracy and appropriateness of such data and indicators used herein, nor assume any responsibility for the accuracy and appropriateness of such data and indicators presented in this document.

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Table of contents

1. Corporate Overview
2. Gene Therapy, Gene Editing
3. CRISPR-GNDM® and its advantages
4. MDL-101for MDC1A MDL-104 for Tau
   MDL-206 for Angelman Syndrome
5. Growth Strategy
6. Risk Information

3	Copyright and proprietary to Modalis

1. Corporate Overview

4	Copyright and proprietary to Modalis

1. Corporate Overview︓Corporate Overview

Corporate Overview(As of end Sep 2021)

Modalis Therapeutics is a biotech company to develop CRISPR-based gene therapies

Name	Modalis Therapeutics Corporation
(Ticker symbol: 4883)
Foundation	Jan 2016
President CEO	Haru Morita
	3-11-5Nihonbashi-Honcho, Nihonbashi-
HQs	Lifescience-Bldg.2 7F Chuo-ku, Tokyo 103-0023
	Japan
US subsidiary	Modalis Therapeutics Inc.
	(51 Moulton st. Cambridge MA)
Business	Drug Development
Common
2,738,185 thousand yen
stock
Outstanding
28,861,700 common stock
share
Number of
24 (including 8 PhD) (4 in Japan, 20 in US)
employee

Date	History
Jan 2016	Founded in Tokyo as EdiGENE Corporation
Apr 2016	Established 100% owned US subsidiary EdiGENE Inc. (Now	Modalis
Therapeutics Inc.)
Apr 2017	Entered into research collaboration with Astellas Pharma Inc.
Dec 2017	Series A round from FUJIFILM Corporation and 8 other companies
through third-party allotment
Dec 2017	Expanded research collaboration with Astellas
Jan 2019	HQs moved to new facility
Mar 2019	Established license agreement on a genetic disorder with	Astellas
Pharma Inc.
Mar 2019	Cambridge Lab moved to the new facility
Aug 2019	Company name changed to Modalis Therapeutics
Sep 2019	Established 2nd license agreement on a genetic disorder with Astellas
Pharma Inc.
Nov 2019	Entered into research collaboration with Eisai Inc.
Apr 2020	Entered into a license agreement with Editas Medicine, Inc to obtain
access to foundational CRISPR IP.
Aug 2020	Listing on Mothers, Tokyo Stock Exchange (Ticker symbol: 4883)

5	Copyright and proprietary to Modalis