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Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside NASDAQ: CAPR Corporate & Investor Presentation June 2021

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Page 1: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to BedsideNASDAQ: CAPR

Corporate & Investor Presentation June 2021

Page 2: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Forward-Looking Statements

2

Statements in this presentation regarding the efficacy, safety, and intended utilization of Capricor'sproduct candidates; the initiation, conduct, size, timing and results of discovery efforts and clinical trials;the pace of enrollment of clinical trials; plans regarding regulatory filings, future research and clinicaltrials; regulatory developments involving products, including the ability to obtain regulatory approvals orotherwise bring products to market; plans regarding current and future collaborative activities and theownership of commercial rights; scope, duration, validity and enforceability of intellectual property rights;future royalty streams, revenue projections; expectations with respect to the expected use of proceedsfrom the recently completed offerings and the anticipated effects of the offerings, and any otherstatements about Capricor's management team's future expectations, beliefs, goals, plans or prospectsconstitute forward-looking statements within the meaning of the Private Securities Litigation Reform Actof 1995. Any statements that are not statements of historical fact (including statements containing thewords "believes," "plans," "could," "anticipates," "expects," "estimates," "should," "target," "will," "would"and similar expressions) should also be considered to be forward-looking statements. There are anumber of important factors that could cause actual results or events to differ materially from thoseindicated by such forward-looking statements. More information about these and other risks that mayimpact Capricor's business is set forth in Capricor's Annual Report on Form 10-K for the year endedDecember 31, 2020 as filed with the Securities and Exchange Commission on March 15, 2021 and in ourQuarterly Report on Form 10-Q for the quarter ended March 31, 2021 as filed with the Securities andExchange Commission on May 14, 2021. All forward-looking statements in this press release are basedon information available to Capricor as of the date hereof, and Capricor assumes no obligation to updatethese forward-looking statements.

CAP-1002 is an Investigational New Drug and is not approved for any indications. None of Capricor’s exosome-based candidates have been approved for clinical investigation.

Page 3: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Corporate Summary

3

NASDAQCAPR

Cash (3/31/21) 1

$41.9 million

Common shares1

22.9 million

Non-Dilutive Capital$45 million

External Collaborators US Army

US Department of DefenseStephen Gould, Ph.D.

Cedars-Sinai Medical Center

• Cell and exosome-based platform therapeutics company

• Two products with novel approaches to neuromuscular, infectious, inflammatory and cardiovascular diseases

• Late-stage clinical development in DMD and rapidly progressing program in COVID-19

• Expanding engineered exosome platform delivering RNA

• Over 100 publications from multiple institutions worldwide on both platforms with extensive in-vivo and clinical data

• Efficient use of capital including non-dilutive sources

• Experienced management team

1As reported in Form 10Q filed on May 14, 2021

Cell TherapyCardiosphere-derived cells (CAP-1002)

Exosomes PlatformEngineered Exosomes & CDC-Exosomes

Page 4: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Capricor’s Product Pipeline

4

CandidateTarget

IndicationsDevelopment Phase

StatusDiscovery Preclinical Phase I Phase II Phase III

CAP-1002(allogeneic CDCs)

Duchenne Muscular Dystrophy

Positive Phase II reported

CAP-1002(allogeneic CDCs) COVID-19 Actively recruiting

Exosome mRNA Vaccine

(Tripartite mRNA design)SARS-CoV-2 Planning IND filing

Engineered Exosomes(RNA delivery) Evaluating Platform

CDC-Exosomes(allogeneic CDC-XOs)

Duchenne Muscular Dystrophy

IND submitted

ASTEX-Exosomes(engineered fibroblast-

derived XOs)Evaluating Platform

Exosome VLP (Display Technology) Evaluating Platform

Capricor's exosomes technology has not yet been approved for clinical investigation.

Cell Therapy Exosome Platform

Page 5: Capricor Therapeutics, Inc. Developing Transformative

Exosome Platform Overview

Page 6: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

RNA Therapeutics are a New Class of Medicines

Broad Market Opportunities

Rapid Innovation Possible

Barrier to Success: Effective Delivery Systems of Nucleic Acids

Capital Efficiency for Development

Proof of Concept Established in Vaccines

6

Page 7: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosomes Are a Natural Drug Delivery System

• ~100 nanometer vesicles

• Made by nearly all cells

• Abundant in blood and all biofluids

• Transfers signals and molecules to other cells

• Decades of transfusion and transplantation medicine demonstrates safety

• Can be used to deliver RNAs and other drugs

Kidney International (2010) 78, 838–848

7

Extracellular vesicles - term for cell-derived vesicles, including exosomes

Page 8: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

From Discovery to Platform Development

8

Publications covering our

technology have been published by

us or our collaborators in multiple peer-

reviewed journals

Page 9: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Capricor’s Potential Solutions to Complex Problems

1. Gene therapy using viral delivery (AAV)‒ Immune response

2. Delivery of RNAs ‒ Uptake to render biologic

relevance ‒ Therapeutic development slow

3. Synthetic nanoparticles are untargeted delivery vehicles

9

Exosomes:

‒ nature’s delivery vehicle

‒ low immunogenicity

‒ can deliver contents to the cell without integration

‒ can be targeted (tropism)

‒ can be lyophilized for ease of handling

Problems Possible Solutions

Page 10: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosomes Platform GoalsBuilding a New Class of Therapeutics

Goals

OncologyVaccines & targeted delivery therapeutics

Infectious Diseases Vaccines

Inflammatory & Vascular Biologics

Monogenic Diseases RNA therapeutics

Drive research throughcollaborations

Expand and exploit platform and IP through partnerships

Scale and partner

Cell

Exosomes Nucleic Acids

10

Page 11: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosome Platform Potential Vaccines and Therapeutics

Modalities

01 02 03 04Vaccines Therapeutics

Biologics Therapeutics RNA Delivery

TherapeuticsSmall Molecule Targeting

Targets

Infectious Diseases

(SARS-CoV-2)

Monogenic Diseases & Oncology

Inflammatory & Vascular Disorders

Evaluating

Exosomes: Platform for RNA & Drug

Delivery

11

Page 12: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosomes Target Cargo Directly to the Cell

12

‒ Exosomes serve as a natural signalingsystem

‒ CD-9, CD-81 and CD-63 are surfacemarkers of exosomes and can serve astargeting molecules for effective deliveryto cells and confirmation of exosomeloading

Page 13: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

‒ Other mRNA vaccines in development are targeting the spike “S” protein solely

‒ Capricor’s exosome platform vaccine addresses multiple proteins

Coronavirus Structure Unique Protein Visualization

13

Page 14: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosome mRNA Vaccine

Exosome-based mRNA vaccine can have the following potential benefits:‒ Delivering payload directly to cytoplasm‒ Superior targeting may permit lower doses‒ Exosome based mRNA vaccine will have multiple proteins for better immune

response ‒ Exosomes address the delivery problem by targeting cells of interest

14

4. Inject mRNA/exosome formulation (IM)

Page 15: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside 15

Key findings:• Development of safe, non-toxic exosome

formulation capable of delivering functionalmRNA in vitro and in vivo

• Drives cell and antibody immunity tonucleocapsid protein (SARS-CoV-2)

• Drives cell and antibody immunity to spikeprotein (SARS-CoV-2)

• Confirms multiplexed mRNA approach• Unique antigen design

Exosome-mRNA vaccine demonstrates

long lasting cellular immunity

Results from bioRxiv, Gould 2021

Exosome-mRNA Vaccine Preclinical Results

Page 16: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside 16

Exosome-mRNA Vaccine Preclinical Results

Exosome-mRNA vaccine demonstrates long lasting humoral

immunity

Results from bioRxiv, Gould 2021

Page 17: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosome Platform Potential Vaccines and Therapeutics

Modalities

01 02 03 04Vaccines Therapeutics

Biologics Therapeutics RNA Delivery

TherapeuticsSmall Molecule Targeting

Targets

Infectious Diseases

(SARS-CoV-2)

Monogenic Diseases & Oncology

Inflammatory & Vascular Disorders

Evaluating

Exosomes: Platform for RNA & Drug

Delivery

17

Page 18: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

ExosomesLess Toxic than Lipid Nanoparticles

Results from bioRxiv, Gould 2021

18

Page 19: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Exosomes More Efficient mRNA Delivery

Control Exo-mRNA Antares2

Results from bioRxiv, Gould 2021

A real-time view of mRNA delivery, protein expression and enzymatic activity

19

Page 20: Capricor Therapeutics, Inc. Developing Transformative

CAP-1002Cell Therapy Overview

Page 21: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Capricor’s CAP-1002 TechnologyCAP-1002 is a biologic consisting of allogeneic cardiosphere-derived cells (CDCs)

• Manufactured from donated heart muscle

• Does not act by “stemness” - the cells do not engraft into host tissue

• MOA: cells secrete exosomes:‒ Contain miRNAs, non-coding RNAs and proteins

‒ Internalized by target cells

‒ Stimulate diverse and lasting changes in cellular behavior

‒ 3 known miRNAs drive CAP-1002 potency

• CAP-1002 has been investigated in multiple independent clinical trials and approximately 200 human subjects to date

21

Page 22: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Mechanism of Action:Defined in “Stem Cell Reports”

OxidativeStress

Fibrosis

Inflammation

Cellular Energy

Muscle CellGeneration

phospho-Akt Nrf2 (cytoplasmic) Nrf2 (nuclear)

HO-1

catalase SOD-2

GCLC cat. sub.

phospho-IkB p65 (nuclear)MCP1

CD68+ macrophages

CD3+ T cells

collagen I

collagen III

mitochondrial DNA copy number

level of respiratory chain subunits

RESTORED mitochondrial ultrastructureNORMALIZED deficient respiratory capacity

of isolated mitochondria

Ki67+ cardiomyocytes

Aurora B cardiomyocytes

NF-kB

*CDCs have been the subject of >100 peer-reviewed papers since 2007.Aminzadeh et al. Stem Cell Reports. 2018.

22

Page 23: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Immunomodulatory Effects of CAP-1002

CDCs: Cardiosphere-derived cells

Macrophages

Effector T-cells

Proinflammatory Cytokines

IFN-γ, TNFα, IL-1β, IL-6, IL-8, CXCL10, CCL2, CCL3, CCL5

Systemic Inflammation

Multiorgan dysfunction

1. Cardiac inflammation2. Lung inflammation3. Cardiomyocyte death4. Cardiac dysfunction5. Skeletal muscle injury6. Tissue Fibrosis

1. Cardiomyogenesis2. Cardiomyocyte survival3. Anti-inflammatory4. Immunomodulatory5. Angiogenic6. Anti-fibrotic

CDCs: Mechanism of Action

1. Enhanced cell debris2. Decreased TNFα, IL-1β,

CCL5 production3. Increased levels of IL-10 by

macrophages

CDCs: Pro-inflammatory cellular targets

1. Myocardial ischemia (CADUCEUS, Phase I/II ALLSTAR, DYNAMIC Phase IIa)

2. Myocarditis3. Muscular dystrophy (HOPE-Duchenne, HOPE-2)4. Heart failure with preserved ejection fraction (REGRESS,

Phase I)5. Senescence 6. Non-ischemic dilated cardiomyopathy 7. Pulmonary arterial hypertension (ALPHA, Phase I)

CDCs: Efficacy (Pre-clinical and Clinical)

23

Published https://link.springer.com/content/pdf/10.1007/s00395-020-0795-1.pdf

Page 24: Capricor Therapeutics, Inc. Developing Transformative

CAP-1002Duchenne MuscularDystrophy Program

24

Page 25: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

DMD: Lack of Dystrophin Predisposes Muscle to Damage

• Dystrophin is a structural protein located within the muscle fiber membrane

• Acts both as a cushion and a kind of glue

• Without dystrophin, muscles are unable to function properly, suffer progressive damage and eventually die

• Much of the muscle injury that occurs in dystrophin-deficiency is attributable to secondary damage caused by inflammation

Whole Muscle Tissue

Muscle-FiberMembrane

Dystrophin

25

Page 26: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Trajectory of CDCs in DMD (Preclinical Data)

• Hypothesis: CDCs to treat cardiomyopathy• Left ventricular ejection fraction markedly improved vs. control

– P<0.05 at all timepoints through 12 weeks of follow-up*

• Hypothesis: CDCs to improve exercise capacity• Exercise performance approximately doubled vs. control

– P<0.005 at all timepoints through 12 weeks of follow-up*

• Hypothesis: CDCs to improve skeletal muscle function• Twitch force, tetanic force, and fibrosis in soleus (slow-twitch)

and extensor digitorum longus (fast-twitch) muscles significantly improved vs. control

– P<0.05; muscles isolated at three weeks post-treatment*

*Aminzadeh et al. Stem Cell Reports. 2018.

• Hypothesis: CDCs to treat diaphragm muscle• Fibrosis in the diaphragm markedly declined vs. control

– P<0.0001; muscles isolated at 3- and 12 months post-treatment

26

Page 27: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Capricor’s Addressable DMD Population

CAPRICOR’sTargeted Patient

Population

27

Page 28: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Competitive Landscape for DMD

We believe CAP-1002 may be used synergistically with other therapeutics aimed to treat DMD

Exon Skipping

Gene therapy

NF-kB

Steroids

Options Challenges CAP-1002 Benefits

Exon Skipping – treats a small portion of the DMD

population

Gene therapy – potential safety risks

NF-kB inhibition may not be enough

Steroids have adverse side-effects

Immunomodulatory

Anti-fibrotic

Pro-regenerative

Cellular Energy

28

Page 29: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Primary Efficacy Endpoint

PUL v.2.0:• 3-point response scale - more robust and reproducible than v1.2• Compensatory strategies allowed to achieve tasks (not allowed in v1.2)• v2.0: better able to detect change at 12 months at all levels of ability*

*Mayhew et al, 2019; Pane et al, 2018.

Performance of the Upper Limb (PUL: v1.2) to Assess Skeletal Muscle

29

Page 30: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Capricor’s Regulatory Designations - DMD

Similar to breakthrough therapy designation:• RMAT provides benefits that include more frequent meetings with FDA to discuss the

development plan for the product candidate

• Eligibility for rolling review and priority review

Products may also be eligible for accelerated approval • On the basis of a surrogate or intermediate endpoint reasonably likely to predict long-term

clinical benefit

• Reliance upon data obtained from a meaningful number of sites

GOAL OF FDA’S RMAT DESIGNATION To facilitate efficient development and expedite review of a drug

Rare Pediatric Disease Designation

OrphanDrug Designation

RMAT Designation

30

Page 31: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

HOPE-Duchenne Focused on Older DMD Patients

• Phase I/II study: 25 patients, randomized and open-label

• One-time, multi-vessel, intracoronary delivery of cells

• HOPE population were all on stable corticosteroids

• Very limited options for this patient population

https://n.neurology.org/content/92/8/e866. Study funded with the support of CIRMhttps://clinicaltrials.gov/ct2/show/NCT02485938.

• Reduction in cardiac scar at 6 and 12 months measured by MRI

• Improvement in cardiac function (systolic wall thickening) at 6 and 12 months

• Improvements shown in PUL (mid + distal)

– Best improvement shown within the first 3 months

• Study published in February 2019 in Journal of Neurology

RESULTS

31

Page 32: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

HOPE-Duchenne: Phase I/II Results Reduced Cardiac Scar and Improved PUL

R.G. Victor et al., AHA LBCT 2017; M. Taylor et al., submitted

*p-values are based on absolute change from baseline

Scar

32

Page 33: Capricor Therapeutics, Inc. Developing Transformative

HOPE-2 Phase II Clinical Study

33

Page 34: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

HOPE-2 Clinical Trial• Design: Phase II, randomized, double-blind, placebo-controlled trial

in participants with DMD and reduced skeletal muscle function

• Objective: Evaluate safety and efficacy of CAP-1002

• Dosing Regimen: 150M cells delivered intravenously every 3 months

• Sites: 9 sites (USA)

• Data: ITT population - 20 subjects

• Demographics

‒ Mean age: 14.3 years

‒ All patients were on corticosteroids

‒ ~ 80% of patients were non-ambulant

https://www.clinicaltrials.gov/ct2/show/study/NCT03406780.

34

Page 35: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

PUL 1.2 (mid)

MONTH 12/ET

-8

-6

-4

-2

0 CAP-1002PLACEBO

p=0.0818

Mea

n C

hang

e fro

m B

asel

ine

+/- S

EM

PUL 1.2 (mid)

MONTH 12/ET

CAP-1002

PLACEBO-15

-10

-5

0

5

Mea

n C

hang

e fro

m B

asel

ine

+/- S

EM

p=0.0974(t test; two-tailed)

35

improvement

Clinically Meaningful Changes in Mid-Level PUL 1.2 Similar changes shown in HOPE-Duchenne

Δ2.8 point difference in CAP-1002 vs. placebo at 12-months-Clinical meaningfulness assessed as 1 point change-

Topline data: Comparisons treated vs. placebo using mixed model repeated measures ANOVA with covariates at baseline, 3 months, 6 months, 9 months and 12 months P-values are nominal values unadjusted for multiple testing

Topline Data

Page 36: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

PUL 2.0 (full)

MONTH 12/ET

-5

-4

-3

-2

-1

0 CAP-1002PLACEBO

p=0.0532

Mea

n C

hang

e fro

m B

asel

ine

+/- S

EM

PUL 2.0 (full)

MONTH 12/ET

CAP-1002

PLACEBO-8

-6

-4

-2

0

2

4

p=0.0201(t test; two-tailed)

Mea

n C

hang

e fro

m B

asel

ine

+/- S

EM

Clinically Meaningful Changes Observed in PUL 2.0(Shoulder + Mid + Distal)

Topline data: Comparisons treated vs. placebo using mixed model repeated measures ANOVA with covariates at baseline, 3 months, 6 months, 9 months and 12 months P-values are nominal values unadjusted for multiple testing

36

improvement

Δ2.4 points in CAP-1002 vs. placebo at 12-months-Clinical meaningfulness assessed as 1 point change-

Topline Data

Page 37: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside 37

LV EF (%)

MONTH 12/ET

-3

-2

-1

0

1 CAP-1002PLACEBO

p=0.0042

Mea

n C

hang

e fro

m B

asel

ine

+/- S

EM

improvement

LV ES Volume, Indexed, ml/m2

MONTH 12/ET

-4

-2

0

2

4CAP-1002PLACEBO

p=0.0122

Mea

n C

hang

e fro

m B

asel

ine

+/- S

EM

Has been used as a surrogate endpoint for approval in adult heart

failure

LV ED Volume, Indexed, ml/m2

MONTH 12/ET

-15

-10

-5

0

5 CAP-1002PLACEBO

p=0.0699M

ean

Cha

nge

from

Bas

elin

e +/

- SEM

improvement

improvement

Month 12-2

-1

0

1

2

3

4

Creatine Kinase MB/Total Creatine Kinase (%)Change From Baseline

Visit

% C

K-M

B

CAP-1002Placebo

✱✱✱

p=0.006

improvement

Enzyme associated with breakdown

of cardiac muscle cells

Cardiac Improvements ObservedEjection Fraction %, CK-MB, LV-ESV and LV-EDV

Topline data: Comparisons treated vs. placebo using mixed model repeated measures ANOVA with covariates at baseline, 3 months, 6 months, 9 months and 12 months P-values are nominal values unadjusted for multiple testing

Topline Data

Page 38: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

HOPE-2 Safety Results

38

• A total of 69 infusions (CAP-1002 or placebo) were performed in HOPE-2• Generally safe and well tolerated throughout the study• With the exception of hypersensitivity reactions, no safety

signals were identified

Page 39: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Conclusions and Future DirectionsConclusions:‒ First placebo-controlled trial

showing upper limb functional improvements in non-ambulant DMD patients

‒ Directionally consistent improvements in strength, respiratory and cardiac endpoints

‒ First ever study in DMD that correlates cardiac functional stabilization with reduction of a biomarker of myocardial cell damage

‒ Consistent results shown pre-clinically, Phase I/II and Phase II

Moving Forward:‒ FDA continues to encourage us to

conduct a Phase III study; we continue to discuss next steps and pathway to approval

‒ Engaged Lonza (global CMO) for scale-up of manufacturing of CAP-1002

‒ HOPE-2 Open label extension trial underway

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Page 40: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

World-Class DMD Advisory BoardCraig McDonald, M.D. (National PI) University of California at Davis (USA)

Michelle Eagle, Ph.D., M.Sc., MCSP Atom International Ltd (UK)

Richard Finkel, M.D. Nemours Children's Hospital (USA)

Pat Furlong Parent Project Muscular Dystrophy (USA)

Kan Hor, M.D. Nationwide Children's Hospital (USA)

John Jefferies, M.D. Cincinnati Children's Hospital Medical Center (USA)

Oscar Henry Mayer, M.D. Children's Hospital of Philadelphia (USA)

Eugenio Mercuri, M.D., Ph.D. Catholic University of the Sacred Heart (Italy)

Francesco Muntoni, M.D. University College London (UK)

Thomas Voit, M.D. University College London (UK)

Lee Sweeney, Ph.D. University of Florida (USA)

Michael Taylor, M.D., Ph.D. Cincinnati Children's Hospital Medical Center (USA)

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Page 41: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

CAP-1002Cell Therapy Overview for

COVID-19

Page 42: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

CAP-1002 Targets Severe Cases of COVID-19

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Page 43: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

CAP-1002: COVID-19 Program Compassionate Use Data

43

Six critical COVID-19 patients with ARDS Published in Basic Research in Cardiology* ‒ Treated at Cedars-Sinai Medical Center in Los Angeles, CA‒ Received intravenous infusions of 150 million cells of CAP-1002

Results:‒ Within 1-4 days following infusion

‒ 4 of 5 patients no longer required ventilator supportImproved biomarkers: ‒ Ferritin, absolute lymphocyte count and CRP

No adverse events related to the administration of CAP-1002 were observed

*Published https://link.springer.com/content/pdf/10.1007/s00395-020-0795-1.pdf

Page 44: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

CAP-1002: COVID-19 Program Phase II Trial Underway

44

‒ INSPIRE: Phase II, randomized, double-blind, placebo-controlled trial ‒ Aim: to treat up to 60 patients in the US‒ Study enrolling patients who have a confirmed diagnosis of SARS-CoV-2 and require

supplemental oxygen‒ Trial actively recruiting subjects – topline data expected by Q3 2021

Page 45: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Targeted Milestones in 2021

45

Cell Therapy (CAP-1002) Technology Plan to publish HOPE-2 final results Continue to work with FDA on next steps in pathway forward for DMD Continue to pursue partnership opportunities for DMD program Plan to complete enrollment in INSPIRE study Plan to announce top-line results from INSPIRE study

Engineered Exosomes Platform Technology Plan to publish preclinical data from exosomes technology Plan to file IND for exosome-mRNA vaccine Plan to announce pipeline expansion for engineered exosome program Continue to pursue grant funding activities Continue to pursue partnership opportunities

Page 46: Capricor Therapeutics, Inc. Developing Transformative

World-Class Facilities and Infrastructure

Capricor’s Research, Development and Manufacturing facilities are located in the Cedars-Sinai Medical Center in Los Angeles, California

Capricor has access to core research facilities

46

Page 47: Capricor Therapeutics, Inc. Developing Transformative

Capricor Therapeutics, Inc. Developing Transformative Therapies from Bench to Bedside

Senior Leadership TeamLinda Marbán, Ph.D.Chief Executive Officer, Co-founder and Director Dr. Marbán has over 25 years of experience in the

biotechnology industry Been with Capricor since 2005 and CEO since 2010. Previous experience includes Excigen, Inc. where she was

responsible for business development and operations. Dr. Marbán began her career in academic science at the

Cleveland Clinic Foundation working on the biophysicalproperties of cardiac muscle and continued to a postdoctoralfellowship at Johns Hopkins University.

Dr. Marbán earned a Ph.D. from Case Western ReserveUniversity in cardiac physiology.

Karen Krasney, J.D.Executive Vice President & General Counsel Ms. Krasney’s has over 40 years of experience in domestic

and international corporate and business law, as well aslitigation.

Ms. Krasney served as legal counsel of BiosensorsInternational Group Ltd., a multinational medical devicecompany.

Ms. Krasney received her Bachelor of Arts degree from theUniversity of California, Los Angeles and her Juris Doctoratefrom the University of Southern California.

Stephen Gould, Ph.D.Executive Consultant Dr. Gould is a Professor of Biological Chemistry at Johns Hopkins

University and an internationally recognized exosome expert whobrings an unparalleled understanding of exosome engineering toCapricor.

Dr. Gould is co-Founder and acting President of the AmericanSociety for Exosomes and Microvesicles (ASEMV).

Dr. Gould’s team was the first to reveal the mechanistic linkbetween exosome biogenesis and virus budding, the first toidentify mechanisms of exosome engineering and the first todevelop an exosome-based cancer therapeutic.

Dr. Gould has published numerous research articles and severalbook chapters, received numerous public and private researchgrants and served on an array of NIH and other grant reviewpanels.

AJ Bergmann, M.B.A.Chief Financial Officer Mr. Bergmann has worked in the finance industry for over a

decade. Mr. Bergmann joined Capricor in 2011 and coordinated the

Company’s reverse merger, uplisting to NASDAQ and publicfinancings yielding over $85 million to date.

Mr. Bergmann graduated from Providence College and has aM.B.A. from the University of Southern California’s MarshallSchool of Business.

Sudhir Borgonha, M.D., M.B.A.Vice President of Clinical Development Dr. Borgonha previously served as Director of Translational

Medicine at the Fanconi Anemia Research Fund, where he ledefforts to propel a spectrum of approaches includinggene therapy to treat cancer in rare diseases. Prior to that, hewas the Medical Director of Strand Genomics, where he oversawdevelopment of new technologies such as the liquid biopsy andcustomized cancer panels, while he oversaw clinical reporting forover 5,000 patients a year.

Dr. Borgonha was a co-founder of Angstrom Medica (Acquired byPioneer Surgical), a biomaterials science company. He is alsoa co-founder of ten3T, a remote cardiac monitoring company.

Dr. Borgonha is a graduate of St. John’s MedicalCollege, Bangalore and the Sloan School of Managementat MIT.

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