Rock

Creek Pharmaceu5cals, Inc.

January 2016

Forward Looking Statements

Certain statements contained in this presentation constitute forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements include, but are not limited to statements identified by words
such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions.
The statements in this release are based upon the current beliefs and expectations of our company's management and are
subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking
statements. Numerous factors could cause or contribute to such differences, including, but not limited to, failure to
obtain sufficient capital resources to fund our development program and operations, results of clinical trials and/or other
studies, the challenges inherent in new product development initiatives, including the continued development and
approval of anti-inflammatory drug candidates, the effect of any competitive products, our ability to license and protect
our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business,
changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our
products or practices, pending litigation matters, as well as other risks discussed from time to time in our filings with the
Securities and Exchange Commission, including, without limitation, our annual report on Form 10-K for the fiscal year
ended December 31, 2014 filed on March 12, 2015. We undertake no duty to update any forward-looking statement or
any information contained in this presentation or in other public disclosures at any time.

Overview

Rock Creek Pharmaceu:cals:

An emerging d rug
company focused on the
d
evelopment

discovery, development and commercializa8on of new
drugs, formula8ons and compounds that provide therapies
for chronic and acute inammatory diseases

Investment Highlights
Focused on discovery, development and commercializa:on of prescrip:on pharmaceu:cals
which exploit the recently discovered cholinergic an:-inammatory system with dis:nct
mechanism of ac:on compared to NSAIDs, steroids and biologics
Topical safety and ecacy clinical trial an:cipated to begin 1H 2016 for Psoriasis
Several near-term milestones expected

PlaRorm development opportunity with mul:ple disease applicability

Large mul: $ billion market opportunity
An:-inammatory eects of lead drug molecule observed in numerous pre-clinical and clinical
studies published in peer reviewed scien:c journals since 2011
Extensive in-human experience from pharmaceu:cal trials and nutraceu:cal clinical studies and
product sales
Completed M.H.R.A. (UK/EU) approved Oral Phase I clinical trial with posi:ve results
Supported by broad intellectual property porRolio and proprietary/scien:c know-how
Experienced business and scien:c team with direct access to signicant development
resources
4

Lead Compound: Anatabine Citrate

Small molecule
Exhibits an:-inammatory pharmacological
characteris:cs via Cholinergic Receptor Binding
Crosses blood brain barrier
Excellent bioavailability
Well tolerated as dietary supplement by several
hundred thousand users

Poten5al Therapeu5c Indica5ons
Dermatology
Psoriasis, Ectopic Derma::s
Arthri:c Condi:ons Osteoarthri:s
Inammatory Bowel Ulcera:ve Coli:s
Auto-Immune
Thyroidi:s
CNS

Alzheimers, Mul:ple Sclerosis

 PlaRorm Relevant Data

Anatabine

Inamma5on

2013
2013

2013

Autoimmune Diseases

2014
2012

Alzheimers Disease

2015

2014
2011
6

Intellectual Property
Six Issued US/Foreign Anatabine-related patents

03/01/14

Novel Compound: Anatabine Citrate

US Patent #: 8,557,999 Issue Date: 10/15/2013
Method of Anatabine large-scale synthesis
Six pending US and foreign patents pending for use of Anatabine,
and salts thereof, its isomers and deriva:ves for inammatory
condi:ons:
Thyroidi:s, arthri:s, Alzheimers disease, mul:ple sclerosis,
psoriasis, etc.
Ongoing Intellectual Property Genera:on Ini:a:ves
7

RCPs Lead Compound Mimics Acetylcholine

Cholinergic Anti-Inflammatory System

Terminal branch of vagus

brain
vagus nerve
lung

Acetylcholine

7 nAChR

heart
liver

stomach
spleen
kidney
small/large
bowel

Macrophages
8

8
WBC image: blausen.com sta. Blausen gallery 2014. Wikiversity Journal of Medicine. DOI:10.15347/wjm/2014.010. ISSN 20018762

RCPs Lead Compound Mimics Acetylcholine

Acetylcholine binding on
alpha 7 nico5nic receptor

Anatabine binding on
alpha 7 nico5nic receptor

Novel Mechanism of Ac:on

Anatabine

GSK3

JAK

IKK

STAT3
P65
NFkB

P-STAT3

P65
NFkB

Inammatory
Proteins

Inammatory
Proteins

Daniel Paris, David Beaulieu-Abdelahad, Ghania Ait-Ghezala Venkat Mathura , Megha Verma, Alex E Roher, Jon Reed Fiona Crawford Michael
Mullan (2015) Anatabine Attenuates Tau Phosphorylation and Oligomerization in P301S Tau Transgenic Mice; Brain Disorders & Therapy
,

1,

10

Preclinical Model of Mul:ple Sclerosis

Experimental Autoimmune Encephalomyeli5s (EAE) Model
Mice injected at 0 hr and 48 hrs with 300 g of Pertussis toxin
Day 1, 10 Week-old C57Bl6/J Female mice immunized with 300 g of murine
MOG35-55 (myelin oligodendrocyte glycoprotein)
Mice randomized into 2 groups:
o Placebo group (n=15) receiving regular drinking water
o Anatabine group (n=15) receiving 20 mg/kg of Anatabine diluted in drinking
water
Mice evaluated for clinical signs daily (0= no clinical sign; 1= tail paresis; 2= paresis
of one hind limb; 3= paresis of two hind limbs; 4= moribund; 5= death)

* Paris D, Beaulieu-Abdelahad D, Mullan M, Ait-Ghezala G, Mathura V, et al. (2013) Ameliora:on of Experimental Autoimmune
Encephalomyeli:s by Anatabine. PLoS ONE 8(1): e55392. doi:10.1371/journal.pone.0055392

11
11

Incidence of Hind Limb

Paresis

Preclinical Model of Mul:ple Sclerosis

87.5
70.
52.5
Placebo (n=15)
Anatabine (n=15)

35.
17.5
0.
0 2 4 6 8 10 12 14 16 18
Day After MOG Vaccination

* Paris D, Beaulieu-Abdelahad D, Mullan M, Ait-Ghezala G, Mathura V, et al. (2013) Ameliora:on of Experimental Autoimmune
Encephalomyeli:s by Anatabine. PLoS ONE 8(1): e55392. doi:10.1371/journal.pone.0055392

12

Preclinical Model of Mul:ple Sclerosis

Reduced nerve damage in
Anatabine treated EAE mouse
spinal cord

* Paris D, Beaulieu-Abdelahad D, Mullan M, Ait-Ghezala G, Mathura V, et al. (2013) Ameliora:on of Experimental Autoimmune
Encephalomyeli:s by Anatabine. PLoS ONE 8(1): e55392. doi:10.1371/journal.pone.0055392

13

Preclinical Model of Mul:ple Sclerosis

Normaliza5on of Inammatory Spleen Cytokines in EAE mice by Anatabine

Anatabine

* Paris D, Beaulieu-Abdelahad D, Mullan M, Ait-Ghezala G, Mathura V, et al. (2013) Ameliora:on of Experimental Autoimmune
Encephalomyeli:s by Anatabine. PLoS ONE 8(1): e55392. doi:10.1371/journal.pone.0055392

14

Autoimmune Thyroidi:s: Human Study

Anatabine Citrate in Human Thyroid Health
Double-blind, randomized, placebo-controlled,
parallel group study
o 9-24 mg/d Anatabine Citrate or placebo, each
containing vitamins A and D3
o Orally 3x daily for 3 months
o 165 pa:ents randomized (146 completed ecacy
evalua:on 70 anatabine & 76 placebo)
o ~50% of pa:ents were taking levothyroxine

Primary Outcome: Safety and Tolerability

Secondary Outcome: An:-thyroid auto-an:bodies,
thyroid structure, and thyroid func:on

Hashimoto's thyroiditis cytology

showing lymphocytes and Hurthle
cell metaplasia

5 visits over 12 weeks

15
Lowell R. Schmeltz et al. Anatabine Supplementa:on Decreases Thyroglobulin An:bodies in Pa:ents With Chronic Lymphocy:c
Autoimmune (Hashimotos) Thyroidi:s: A Randomized Controlled Clinical Trial. J Clin Endocrinol Metab, January 2014, 99(1):E137E142

Autoimmune Thyroidi:s: Human Study

An5-thyroglobulin An5bodies in Anatabine Citrate Treated
Thyroidi5s Pa5ents were Reduced

16
Lowell R. Schmeltz et al. Anatabine Supplementa:on Decreases Thyroglobulin An:bodies in Pa:ents With Chronic Lymphocy:c
Autoimmune (Hashimotos) Thyroidi:s: A Randomized Controlled Clinical Trial. J Clin Endocrinol Metab, January 2014, 99(1):E137E142

Successful UK Phase I Results

Objective: Evaluate safety, tolerability and pharmacokinetic (PK) profiles of
different formulations of Companys lead compound in healthy volunteers
- Part One: Six different oral formulations (dose/time release,
evaluation of PK ranges): Well tolerated with no serious adverse
events or safety issues leading to study withdrawal
- Part Two: Examination of food effect on PK profiles with single
doses: Well tolerated and no safety concerns
- Part Three: Randomized, double blind, placebo-controlled seven day
oral study: Safe and well tolerated with no safety concerns or serious
adverse events
No clinically significant changes in any safety assessments (lab tests, vital
signs, ECGs) throughout Phase I Trial
Company poised to conduct proof-of-concept, safety and efficacy trial for
mild-to-moderate psoriasis
Systemic Safety and Tolerability Conrmed
Proceeding Forward with Clinical Development

03/01/14

17

17

Why Psoriasis?
Establish Proof of Concept
Lead compound targets biology of Psoriasis (kera:nocyte hyper-
prolifera:on and inamma:on)
Well absorbed in skin, allowing direct targe:ng of psoria:c
lesions
Can easily observe changes in molecular drivers in real :me
with biopsy
Current topical treatments (steroids specically) have limi:ng
local and systemic side eects
Large unmet need, especially in mild-to-moderate disease

18

Psoriasis Pathogenesis

19

Topical Formula:ons: Psoriasis Mouse Model

Control

TPA

TPA+
Anatabine Topical

20

Topical Formulations: Psoriasis Mouse Model

P-p65NFkB Immuno-Staining

21

Topical Formula:ons: Psoriasis Mouse Model

P-STAT3 Immuno-Staining

P-STAT3 Immuno-Staining

22

 Skin TNF Reduc:on: Topical Formula:ons

23

Upcoming An:cipated Milestones*

Phase I Trial

Phase IB Trial 1st Half 2016

Proof of Concept

Safety, PK, PD studies

Dose/Formula5on

Mild-Moderate Psoriasis

Food Eect
7 Day, Double Blind Placebo Controlled

Topical
Conducted ex-US

2017

Q1-15

Q2-15

Q3-15

Q4-15

Q1-16

Q2-16

Q3-16

Q4-16

15

CTA Approved Preclinical Dermatological Development

* Subject to adequate funding

Phase II Trial
(Psoriasis)

24

Financials
THIRD QUARTER 2015 RESULTS

Q3 2015

Q3 2014

Net Loss

-$2,800,000

-$10,000,000

General, and Administra5ve Expenses

(Decrease of $2.1 million or 48.8% yoy)

$2,200,000

$4,300,000

GENERAL AND ADMINISTRATION EXPENSES

NINE MONTHS ENDING SEPT 2015
(REDUCED BY APPROXIMATELY 70.5%)

NINE MONTHS SEPT NINE

MONTHS SEPT
2015
2014

$7,200,000

$24,400,000

$6.5 million: Restructuring Cost Savings

Oce Consolida5on
Reduced Headcount
Lower Rent Expense
Lower Opera5ng Expenses
$8.7 million: Decrease in non-cash charges
$2.1 million: Decrease in legal expenses

G&A Expenses Reduced by 70% Over Last 12 Months

25

Capitaliza:on
As of
September 30, 2015
($000s)
Cash and cash equivalents

$146

Long-term debt

$350

Common shares outstanding

11,243,723

Warrants outstanding (Exercise price of $.66/share)

1,233,375

Legacy warrants outstanding (Wtd. avg. exercise price of

$23.23/share)

1,127,599

Legacy op:ons outstanding: (Wtd. avg. exercise price of

$54.97/share)
Fully diluted shares outstanding

883,400
14,488,097
26

$20mn Senior Conver:ble Notes

Transac:on Closed 10/15/2015
Payable in 20 monthly installments accruing 8% (per annum interest)
Conver:ble into Company common stock at $1.12 a share
(or at a discount to market price, if lower, at :me of conversion)
General corporate purposes and ongoing clinical development
Funds dispersed from control account within certain :me
periods and milestone achievement
- $1mn on closing of transac:on: (Received 10/15/2015)
- $1mn on posi:ve Phase I results: (Received 10/15/2015)
- $500k on SEC registra:on ling: (Received 11/13/2015)
- $2mn (30 trading days azer eec:ve SEC registra:on)
- $1mn monthly disbursement in exchange for stock

(60 trading days azer eec:ve SEC registra:on)
27

Experienced
Management Team

Michael
Mullan, MBBS (MD), PhD - Chairman, President & Chief Execu:ve Ocer

Recognized authority on Alzheimer's disease and related disorders - "Top 100 Cited Alzheimer Inves:gators"
Former CEO of The Roskamp Ins:tute, a non-prot research organiza:on, funded by mul:ple agencies, including NIH, DOD and the VA
Inventor on mul:ple drug and other patents
Authored and co-authored over 200 papers on causes and treatments for Central Nervous System disorders including role of inamma:on
Taken drug from preclinical to phase III clinical trials
Trained as a physician. Medical degree and PhD in molecular gene:cs, from London University

William McMahon - Chief Financial Ocer

Signicant experience as a Chief Financial Ocer in early stage development and pre-revenue companies;
Chief Financial Ocer for private and public companies during 35+ years career including turnaround situa:ons such as Serenge: Eyewear, Inc. and

Global Payment Technologies, Inc. & Neptune Minerals, Inc., a leader in deep ocean mineral explora:on

Senior nancial posi:on in a na:onal bou:que consul:ng rm, Buccino & Associates, Inc.
Signicant experience with companies in transi:on and able to manage as a change agent in nancial and opera:onal situa:ons

Theodore Jenkins - Corporate Strategy and Development

Wide network of rela:onships within the ins:tu:onal and corporate healthcare banking investment community with knowledge and insights across

the spectrum of biotech and pharmaceu:cal industry disciplines

Experienced ins:tu:onal capital markets professional : 18 years: Alex Brown & Sons, Salomon Brothers, Credit Suisse, FBR and Oppenheimer
US Naval Ocer: Fizeen years, ac:ve duty & reserves (Lieutenant Commander)
MS Business Administra:on, Carey School, The Johns Hopkins University

Richard A. Milam VP, Director of QA, Manufacturing and New Product Development

Coordinates and manages drug product development, QA/QC, manufacturing processes, analy:c methods, regulatory CMC

New Technologies Manager, Senior R&D Process and Project Engineer, Brown and Williamson
Nuclear Project Engineer, Department of Naval Reactors; Civilian Contractor (Joint US Navy DOE Program)
Bachelor of Science, Mechanical Engineering Auburn University

28

Board of Directors
Robert Scannell,

Co-Founder and General Partner of IASO Advisors, LLC, an investment rm focused on healthcare and biotech
Founder and General Partner of Tradewinds Investment Management ($400mn in assets/20 year track record)
Juris Doctorate from Concord Law School, Los Angeles, CA, MBA From Penn State University, Chartered Financial Analyst (CFA)

Suni Chundru Samuel

Chief Execu:ve Ocer of Sierra Molecular Corpora:on

Commercialized and developed medical devices, chemistry, molecular tools, developed new product porRolios
Founded her rst medical device company, Cambridge Devices
MD from State University of New York and M.B.A. from Harvard Business School

Lee Musgrove Canaan

PorRolio manager of a private money management rm founded in 2003, Chartered Financial Analyst (CFA)
25 years of nancial and public capital markets experience and 35 years of scien:c and technical exper:se
Transi:oned from corporate nancial professional in treasury opera:ons of a Fortune 100 energy company

Scom P. Sensenbrenner

President and CEO of Enzymedica, Inc.

Execu:ve experience in marke:ng, supply chain, opera:ons and nancial management in the natural products industry
Overseen sales and marke:ng programs in public and private companies
Previously Group Director, Nutri:on Division with Perrigo, Inc. (NYSE: PRGO)

Michael Mullan, MBBS, PhD - Chairman of the Board

29

Key Dermatology Opinion Leaders

Professor Christopher Griths, MD, FMedSci

Founda:on Professor of Dermatology at the University of Manchester

Professor Griths was past President of: the Bri:sh Associa:on of Dermatologists; European
Dermatology Forum; and, Bri:sh Society for Inves:ga:ve Dermatology. He has published
over 530 peer reviewed scien:c ar:cles and is lead editor of Rooks Textbook of
Dermatology. His research includes all aspects of psoriasis, the brain-skin axis and
mechanisms and repair of skin aging.

Professor Vincent Piguet MD, PhD, FRCP
Head of Department of Dermatology & Wound Healing and Director of the Division of
Infec:on & Immunology at Cardi University, based at the Welsh Ins:tute of Dermatology,
University Hospital of Wales, Cardi.

Professor Piguet has authored over 110 publica:ons in the elds of dermatology, dendri:c
cells, HIV, gene therapy, immunology and vaccina:on in a range of highly cited peer review
journals. He is on the editorial boards of several journals, including the Journal of
Inves:ga:ve Dermatology and Bri:sh Journal of Dermatology. He is the Past-President of
the ESDR and current Execu:ve Board member and Treasurer of the European Dermatology
Forum, a not for prot organiza:on dedicated to improving the healthcare need of
dermatology pa:ents in Europe.
30

Key Takeaways
Focused on discovery, development and commercializa:on of prescrip:on pharmaceu:cals
which exploit the recently discovered cholinergic an:-inammatory system with dis:nct
mechanism of ac:on compared to NSAIDs, steroids and biologics
Topical safety and ecacy clinical trial an:cipated to begin 1H 2016 for Psoriasis
Several near-term milestones expected

PlaRorm development opportunity with mul:ple disease applicability

Large mul: $ billion market opportunity
An:-inammatory eects of lead drug molecule observed in numerous pre-clinical and clinical
studies published in peer reviewed scien:c journals since 2011
Extensive in-human experience from pharmaceu:cal trials and nutraceu:cal clinical studies and
product sales
Completed M.H.R.A. (UK/EU) approved Oral Phase I clinical trial with posi:ve results
Supported by broad intellectual property porRolio and proprietary/scien:c know-how
Experienced business and scien:c team with direct access to signicant development
resources
31

For more informa5on, please contact:

Theodore Jenkins
VP, Corporate Strategy & Development
2040 Whipield Avenue, Suite 300
Sarasota, FL 34243
(941) 251-0488