<SEC-DOCUMENT>0001144204-17-059704.txt : 20171116
<SEC-HEADER>0001144204-17-059704.hdr.sgml : 20171116
<ACCEPTANCE-DATETIME>20171116160306
ACCESSION NUMBER:		0001144204-17-059704
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171116
FILED AS OF DATE:		20171116
DATE AS OF CHANGE:		20171116

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Bioblast Pharma Ltd.
		CENTRAL INDEX KEY:			0001596812
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36578
		FILM NUMBER:		171208045

	BUSINESS ADDRESS:	
		STREET 1:		37 DEREH MENACHEM BEGIN ST.
		STREET 2:		15TH FLOOR
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6522042
		BUSINESS PHONE:		972 (0) 3 7326616

	MAIL ADDRESS:	
		STREET 1:		37 DEREH MENACHEM BEGIN ST.
		STREET 2:		15TH FLOOR
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			6522042

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BIO BLAST PHARMA LTD.
		DATE OF NAME CHANGE:	20140113
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tv479745_6k.htm
<DESCRIPTION>6-K
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 6-K</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Report of Foreign Private Issuer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Rule 13a-16 or 15d-16</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">under the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of: November 2017 (Report
No. 2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission file number: 001-36578</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>BIOBLAST PHARMA LTD.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Translation of registrant's name into English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">37 Dereh Menechem Begin St., 15<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Tel Aviv 6522042 Israel</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address of principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form
20-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp;</FONT><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulations S-T Rule 101(b)(1):_____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulations S-T Rule 101(b)(7):_____</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>CONTENTS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Attached hereto as Exhibit 99.1 and incorporated
by reference herein is the Registrant&rsquo;s Notice of Meeting, Proxy Statement and Proxy Card for the Annual and Extraordinary
General Meeting of Shareholders to be held on Thursday, December 21, 2017 (the &ldquo;<U>Meeting</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Only shareholders of record who hold Ordinary
Shares, nominal value NIS 0.05, of the Registrant at the close of trading on the Nasdaq Capital Market on November 21, 2017, will
be entitled to notice of and to vote at the Meeting and any postponements or adjournments thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notice of Meeting and Proxy Statement
attached to this Form 6-K of the Registrant are incorporated by reference into the registration statement on Form F-3 (File No.
333-206032) and the registration statements on Form S-8 (File No. 333-203114 and 333-210459) of the Registrant, filed with the
Securities and Exchange Commission, to be a part thereof from the date on which this report is submitted, to the extent not superseded
by documents or reports subsequently filed or furnished.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></P>
                           <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>No.</B></FONT></P></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 89%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notice of Meeting, Proxy Statement and Proxy Card for the Annual and Extraordinary General Meeting of Shareholders to be held on Thursday, December 21, 2017.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SIGNATURES</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BioBlast Pharma Ltd.</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant)</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 30%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Fredric Price</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Fredric Price</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Chairman</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: November 16, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tv479745_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 88px; width: 266px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BIOBLAST PHARMA LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL AND EXTRAORDINARY GENERAL
MEETING OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notice is hereby given that an Annual and
Extraordinary General Meeting of the Shareholders of Bioblast Pharma Ltd. (&ldquo;<B>Company</B>&rdquo;) will be held on December
21, 2017, at 10:00 am Israel Time, at the offices of the Company&rsquo;s Israeli counsel (Zysman, Aharoni, Gayer &amp; Co.) at
&ldquo;<FONT STYLE="background-color: white">Beit Zion&rdquo;, 41-45 Rothschild Blvd., 8<SUP>th</SUP> Fl., Tel Aviv 65784</FONT>,
Israel (the &ldquo;<B>Meeting</B>&rdquo;), for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">To present the financial statements of the Company for the fiscal year ended December 31, 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">To re-appoint Kost, Forer, Gabbay &amp; Kasierer (a member of Ernst &amp; Young Global) as the
Company&rsquo;s independent registered public accounting firm until the next Annual Meeting and to authorize the Company&rsquo;s
Board of Directors to determine its compensation for the fiscal year ending December 31, 2017.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">To re-elect the following Company&rsquo;s currently serving directors: Mr. Fredric Price, Dr. Dalia
Megiddo, Mr. Michael Burshtine, Mr. Tom Dubin, Mr. Ran Nussbaum and Dr. Marlene Haffner.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">To elect Mr. Robert Freidman as a Director and determine his Remuneration Terms.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">5.</TD><TD STYLE="text-align: justify">To approve the transfer of the options from Mr. Ran
Nussbaum to the Pontifax Group.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">To approve the engagement with Dr. Dalia Megiddo.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Record Date and Right to Vote</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Subject to the provisions of Israeli law
and the Company&rsquo;s Articles of Association (&ldquo;<B>Articles</B>&rdquo;), only shareholders of record as of the close of
trading on the Nasdaq Capital Market on November 21, 2017 (&ldquo;<B>Record Date</B>&rdquo;) are entitled to attend and vote at
the Meeting and any adjournments or postponements thereof. They are also entitled to notice of the Meeting and to vote at the Meeting
if they held ordinary shares of the Company par value NIS 0.05 per share (&ldquo;<B>Ordinary Shares</B>&rdquo;) through a bank,
broker or other nominee which was one of the Company&rsquo;s shareholders of record at the close of business on the Record Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="background-color: white">A
shareholder whose Ordinary Shares are registered in his, her, or its favor with a member of a stock exchange and are included in
the Ordinary Shares which are registered in the register of shareholders of the Company under the name of such member of a stock
exchange, shall be required to prove ownership of such Ordinary Shares as of the Record Date by providing the Company, before the
time appointed for holding the Meeting, with proof of ownership, issued by a member of a stock exchange, or a copy of the shareholder&rsquo;s
Identification Card, passport, or Incorporation Certificate, if such shareholder is registered in the register of shareholders
of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U STYLE="text-decoration: none">&nbsp;</U></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U STYLE="text-decoration: none"></U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U STYLE="text-decoration: none">&nbsp;</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Legal Quorum</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the Articles, no business may be
transacted at any shareholders meeting unless a quorum is present when the meeting begins.&nbsp;The quorum required for a meeting
is the presence, in person or by proxy or by a voting deed, of at least two shareholders, holding in the aggregate at least one
third of the issued and outstanding Ordinary Shares as of the Record Date (&ldquo;<B>Quorum</B>&rdquo;).&nbsp;If within an hour
from the time appointed for holding a meeting a Quorum is not present, the meeting shall be dissolved and it shall stand adjourned
to the same day in the next week (or the business day following such day, if such day is not a business day) at the same time and
place and two shareholders then present at such adjourned meeting, in person or by proxy or by a voting deed, shall constitute
a Quorum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Abstentions are counted in determining
if a Quorum is present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Proxy</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">You can vote your shares by attending the
Meeting or by completing and signing a proxy card. Attached is the proxy card for the Meeting that is being solicited by our Board
of Directors. If you are voting by proxy, please follow the instructions on the proxy card. We encourage all shareholders to vote
by proxy, even if attending the Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We are mailing copies of this invitation
and the proxy card to our shareholders of record as of the Record Date, and we will solicit proxies primarily by mail and e-mail.
The original solicitation of proxies by mail and e-mail may be further supplemented by solicitation by telephone, mail, e-mail
and other means by certain of our officers, directors and employees (who will not receive additional compensation for these services).
We will bear the cost of external solicitors and of the solicitation of the proxy cards, including postage, printing and handling,
and will reimburse the reasonable expenses of brokerage firms and others for forwarding material to beneficial owners of our Ordinary
Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We will not be able to count a proxy card
unless we receive it, accompanied by a copy of (a) the shareholder&rsquo;s Identification Card, passport, or Incorporation Certificate
(if applicable), with respect to a shareholder who is registered in the register of shareholders of the Company, and (b) with proof
of ownership, as specified above, with respect to a shareholder whose shares are registered under the name of a member of a stock
exchange. We will not be able to count a proxy card unless we receive it at the offices of our Israeli legal counsel, Zysman, Aharoni,
Gayer &amp; Co. at &ldquo;<FONT STYLE="background-color: white">Beit Zion&rdquo;, 41-45 Rothschild Blvd., 8<SUP>th</SUP> Fl., Tel
Aviv 65784</FONT>, Israel, by December 21, 2017 at 6:00 am Israel time, (together with the foregoing proof of ownership). If mailing
your proxy card in the enclosed envelope, it must be received by our transfer agent, Vstock Transfer, LLC, at 18 Lafayette Place,
Woodmere, NY 11598 in the enclosed envelope, by 3:00 pm Eastern time on December 20, 2017 (an earlier deadline may apply for shares
held in street name, as may be indicated in the instructions provided to you with your proxy card).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you sign and return the enclosed proxy
card, your shares will be voted as abstained of all of the proposed resolutions, whether or not you specifically indicate a &ldquo;ABSTAIN&rdquo;
vote, unless you specifically vote in favor or vote against a specific resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The vote with respect to Item No. 6 of
the Meeting&rsquo;s agenda will not be counted without indication of non-existence of personal interest. See Items 5.a, in the
proxy card attached hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On all matters considered at the Meeting,
abstentions will be treated as neither a vote &ldquo;FOR&rdquo; nor &ldquo;AGAINST&rdquo; the matter, although they will be counted
in determining if a Quorum is present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I><U>Disclosure Regarding Compensation
</U></I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New regulations under the Israeli Companies
Law require that the Company provides its shareholders with certain information about the compensation granted to the Company&rsquo;s
five most highly compensated officers during or with respect to the year ended December 31, 2016. Such information can be found
under Item 6.B. of the Company&rsquo;s Annual Report on Form 20-F for the year ended December 31, 2016 filed with the Securities
and Exchange Commission on February 24, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 146.35pt; text-align: justify; text-indent: 33.65pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 146.35pt; text-align: justify; text-indent: 33.65pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 65%; padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 35%; padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By order of the Board of Directors,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/ Mr. Fredric Price</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0; text-align: justify; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Mr. Fredric Price</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Chairman of the Board of Directors</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 146.35pt; text-align: justify; text-indent: 33.65pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 2.35pt 0pt 146.35pt; text-align: justify; text-indent: 33.65pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">November 16, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><IMG SRC="image_001.jpg" ALT="" STYLE="height: 88px; width: 266px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BIOBLAST PHARMA LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TEL-AVIV, ISRAEL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>_____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL AND EXTRAORDINARY GENERAL MEETING
OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SHAREHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">This Proxy Statement
is furnished to the holders of ordinary shares, NIS 0.05 nominal value per share (&ldquo;<B>Ordinary Shares</B>&rdquo;), of Bioblast
Pharma Ltd. (&ldquo;<B>Company</B>&rdquo;) in connection with the solicitation by the Company&rsquo;s board of directors (&ldquo;<B>Board
of Directors</B>&rdquo;) of proxies for use at the Annual and Extraordinary General Meeting of the Shareholders, or at any adjournment
thereof, pursuant to the accompanying Notice of Annual and Extraordinary General Meeting of Shareholders. The meeting will be held
on December 21, 2017, at 10:00 am Israel Time, at the offices of the Company&rsquo;s Israeli counsel (Zysman, Aharoni, Gayer &amp;
Co.) at &ldquo;Beit Zion&rdquo;, 41-45 Rothschild Blvd., 8th Fl., Tel Aviv 65784, Israel (&ldquo;<B>Meeting</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SOLICITATION OF PROXIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.15pt 0pt 0; text-align: justify">The agenda for the Meeting
is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 14.15pt 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">To present the financial statements of the Company for the fiscal year ended December 31, 2016.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">2.</TD><TD STYLE="text-align: justify">To re-appoint Kost, Forer, Gabbay &amp; Kasierer (a member of Ernst &amp; Young Global) as the
Company&rsquo;s independent registered public accounting firm until the next Annual Meeting and to authorize the Company&rsquo;s
Board of Directors to determine its compensation for the fiscal year ending December 31, 2017.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">To re-elect the following Company&rsquo;s currently serving directors: Mr. Fredric Price, Dr. Dalia
Megiddo, Mr. Michael Burshtine, Mr. Tom Dubin, Mr. Ran Nussbaum and Dr. Marlene Haffner.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">To elect Mr. Robert Freidman as a Director and determine his Remuneration Terms.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">5.</TD><TD STYLE="text-align: justify">To approve the transfer of the options from Mr. Ran Nussbaum to the Pontifax Group.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">6.</TD><TD STYLE="text-align: justify">To approve the engagement with Dr. Dalia Megiddo.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ITEM 1 &ndash; TO PRESENT THE FINANCIAL
STATEMENTS OF THE COMPANY FOR THE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FISCAL YEAR ENDED DECEMBER 31, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">The Company&rsquo;s financial
information for the year ended December 31, 2016 is available on the Company&rsquo;s website at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="color: Blue"><U>https://ir.bioblastpharma.com/node/7106/html</U></FONT><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">At the Meeting, the Company
will review the audited financial statements for the year ended December 31, 2016 and will answer appropriate questions relating
thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>No vote will be required regarding this
item.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ITEM 2 &ndash; RE-APPOINTMENT OF THE COMPANY&rsquo;S
INDEPENDENT REGISTERED</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PUBLIC ACCOUNTING FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
Audit Committee and Board of Directors recommend that the Company&rsquo;s shareholders re-appoint Kost, Forer, Gabbay &amp; Kasierer,
a member of Ernst &amp; Young Global, as the Company&rsquo;s independent registered public accounting firm until the next Annual
Meeting and to authorize the Board of Directors to determine its compensation for the fiscal year ending December 31, 2017. It
is proposed that the following resolution be adopted at the Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>RESOLVED</B>,
to re-appoint Kost Forer Gabbay &amp; Kasierer (a member of Ernst &amp; Young Global) as the Company&rsquo;s independent registered
public accounting firm until the next Annual Meeting and to authorize the Board of Directors to determine its compensation for
the fiscal year ending December 31, 2017.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The affirmative vote
of a majority of the shares voting on the matter is required to approve this resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>The Company&rsquo;s
Board of Directors unanimously recommends that you vote &ldquo;FOR&rdquo; the proposal included in this Item.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ITEM 3 &ndash; RE-ELECTION OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
Articles of Association provide that other than external directors (who are elected and serve in office in accordance with the
provisions of the Israeli Companies Law), the directors in the Company shall be elected at an Annual Meeting and shall serve in
their office until the next Annual Meeting, or until they cease to serve in their office in accordance with the provisions of the
Articles of Association or applicable law, whichever is the earlier.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As required by the
Israeli Companies Law, all director candidates have declared in writing that they possess the requisite skills and expertise, as
well as sufficient time, to perform their duties as a director of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Biographical information
about each of the candidates is provided below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-size: 8pt"><SUP>1</SUP>
The contents of the Company&rsquo;s website do not form a part of, and are not incorporated by reference into, this proxy statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The candidates for election are: Mr. Fredric
Price, Dr. Dalia Megiddo, Mr. Michael Burshtine, Mr. Ran Nussbaum and Dr. Marlene Haffner. Biographical information about each
of the candidates is provided below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Fredric Price&nbsp;</I>has
been our Chief Executive Officer since July 2016, and has served as Executive Chairman of our Board of Directors since April 2014,
having served as our Chairman of the Board of Directors from April 2012 until April 2014. Since 2013, Mr. Price has served as a
member of the Advisory Board of FDNA Inc. From 2013 until 2014, he was Executive Chairman of the Board of Directors and from 2008
to 2013 Chairman of the Board of Directors and Chief Executive Officer of Chiasma, Inc. From 2004 to 2008, Mr. Price was Chairman
of the Board of Directors of Omrix Biopharmaceuticals, Inc., from 2006 to 2012 a member of the Board of Directors of Enobia Pharma
Corp., from 2007 to 2010 a member of the Board of Directors of Pharmasset Inc., from 2007 to 2011 Executive Chairman of the Board
of Directors of Peptimmune, Inc., from 2004 to 2005 Executive Chairman of the Board of Directors of Zymenex A/S, from 2000 to 2004
Chairman of the Board of Directors and Chief Executive Officer of BioMarin Pharmaceutical Inc., and from 1994 to 2000 Chief Executive
Officer and a member of the Board of Directors of Applied Microbiology Inc. As Chairman and/or Chief Executive Officer, he has
raised more than $700 million in a variety of securities transactions, led a total of 22 M&amp;A and licensing transactions, built
FDA approved facilities and had drugs approved in the United States as well as in international markets. His earlier experience
includes having been Vice President of Finance and administration and Chief Financial Officer of Regeneron Pharmaceuticals, Inc.,
the founder of the strategy consulting firm RxFDP, and Vice President of Pfizer, Inc. with both line and staff responsibilities.
Mr. Price is a co-inventor of 17 issued U.S. patents. He received a B.A. from Dartmouth College and an M.B.A. from the Wharton
School of the University of Pennsylvania.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dr. Dalia Megiddo&nbsp;</I>has
been a director since our inception. From our inception until February 2015, Dr. Megiddo was our Chief Executive Officer, from
January 2015 to November 2015, she was our Chief Development Officer and from November 2015 to December 2016, she was a special
advisor to our Chief Executive Officer. Dr. Megiddo co-founded Alcobra Ltd. (NASDAQ: ADHD), a company primarily focused on the
development and commercialization of a drug to treat Attention Deficit Hyperactivity Disorder in February 2008, and became a Director
at that time. She is an entrepreneur and a medical doctor in family medicine. Since 2000, she has been a manager of InnoMed Ventures
LP, an Israeli venture capital fund focused on life sciences. From 2006 to 2010, she was also a manager of 7 Health Ventures Ltd.,
an Israeli venture capital fund. She is also the founder of a number of life science companies. Dr. Megiddo received her M.D. degree
from Hebrew University Hadassah Medical School and holds a specialist degree in Family Medicine, and also holds an M.B.A. from
the Kellogg-Recanati School of Business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Michael Burshtine</I>&nbsp;has
been a director since October 30, 2014. Mr. Burshtine is currently serving as co-Chief Executive Officer at Adhestick Innovations
Ltd., a chemical company specializing in the development, manufacturing and marketing of adhesion polymers formulations. Mr. Burshtine
served as the president and Chief Executive Officer of Flight Medical Innovations Ltd., a med-tech company specializing in the
development, manufacturing and marketing of portable ventilators, between 2009 and May 2014. Prior to that, between 2007 and 2009,
he served as President and Chief Executive Officer of Recoly N.V., a bio-med company engaged in the research, development and commercialization
of drug enhancement technologies. From 2004 to 2007, he served as the Chief Financial Officer of Omrix Biopharmaceuticals Inc.,
a public biotechnology company that develops, manufactures and commercializes plasma derivative products. Mr. Burshtine has been
a certified CPA since 1994 and was a senior partner at Kesselman &amp; Kesselman PricewaterhouseCoopers (PwC) auditing firm, until
2004. He holds an M.B.A. and a B.A. in economics and accounting, both from Tel Aviv University. Mr. Burshtine serves on our Audit
Committee and our Compensation Committee<I>.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Thomas I.H. Dubin&nbsp;</I>has
been a director since September 2015. Mr. Dubin is an attorney and has over twenty years of senior leadership experience in the
pharmaceutical and biotechnology industries. From January 2014 through November 2014, Mr. Dubin served as an advisor to the Chief
Executive Officer of Infinity Pharmaceuticals Inc. (NASDAQ: INFI). From 2008 through 2013, he was Senior Vice President and Chief
Legal Officer, and from 2001 through 2008 he was Vice President and General Counsel,&nbsp;of Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN).
Prior to Alexion, from 1992&nbsp;to 2000, Mr. Dubin served in senior positions at ChiRex, Inc. (NASDAQ:CHRX)&nbsp;and at Warner-Lambert
Company (NYSE:WLA) prior to its sale to Pfizer, Inc. Mr. Dubin began his career as an attorney with Cravath, Swaine &amp; Moore
LLP in New York City. He is a Trustee of the American Jewish World Service, and a Member of Launchpad Venture Group. Mr. Dubin
received his J.D. from New York University School of Law, and his B.A. from Amherst College, cum laude.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Ran Nussbaum&nbsp;</I>has
been a director since July 1, 2013. Mr. Nussbaum is a co-founder, and since 2004, has served as a managing partner of the Pontifax
Group Ltd., a venture capital firm. Mr. Nussbaum currently serves as a director of several companies, including, Kite Pharma Inc.
(NASDAQ: KITE) (since July 2013), Eloxx Pharmaceuticals, Ltd. (since September 2013), UroGen Pharma Ltd. (since April 2013), Quiet
Therapeutics Ltd. (since September 2010), Ocon Medical Ltd. (since May 2013), Nutrina Ltd. (since December 2014), N.T.B Pharma
Ltd. (since November 2015) and NovellusDx Ltd. (since December 2015). In addition, Mr. Nussbaum previously served as a director
of CollPlant Holdings Ltd. (TASE: CLPT) (from May 2010 until August 2014.), Protab Ltd. (from December 2010 until August 2014),
Fusimab Ltd. (from July 2010 until December 2014), c-Cam Biotherapeutics Ltd. (from April 2012 until July 2015) and Insuline Medical
Ltd. (TASE: INSL) (from December 2013 until January 2015).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><I>Dr. Marlene Haffner&nbsp;</I>has
been a director since July 1, 2013. From 1986 until 2007, Dr. Haffner served as the Director of the Office of Orphan Products Development
(OOPD) of the FDA. As OOPD Director she was responsible for the leadership and management of the FDA orphan products development
program, the first Orphan Products program in the world. After leaving the FDA, and from 2007 until 2009, she served as Executive
Director, Global Regulatory Policy and Intelligence at Amgen, Inc., and since 2009 has held the position of Chief Executive Officer
at Orphan Solutions and Haffner Associates, LLC, services companies for the orphan drug industry. In addition to her consulting
activities, Dr. Haffner is Adjunct Professor, Department of Preventive Medicine and Biometrics and Clinical Professor at the Department
of Medicine of the F. Edward H&eacute;bert School of Medicine, Uniformed Services University of the Health Sciences in Bethesda,
Maryland. For 36 years she served in the United States Public Health Service beginning her career with the Indian Health Service
in Gallup, New Mexico prior to moving to the FDA. &nbsp;Dr.&nbsp; Haffner received her M.D. from the George Washington University
School of Medicine where she then interned in Internal Medicine. She received further training in internal medicine, dermatology
and hematology at the Presbyterian Hospital, New York and at the Albert Einstein College of Medicine, New York. She received an
M.P.H. from the Johns Hopkins University Bloomberg School of Public Health. During her public health career, she rose to the rank
of Rear Admiral in the United States Public Health Service.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">It is therefore proposed that the following
resolution be adopted at the Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&ldquo;RESOLVED</B>,
to re-elect each of Mr. Fredric Price, Dr. Dalia Megiddo, Mr. Michael Burshtine, Mr. Tom Dubin, Mr. Ran Nussbaum and Dr. Marlene
Haffner to serve as directors of the Company until the next Annual Meeting, or until he ceases to serve in their office in accordance
with the provisions of the Company&rsquo;s Articles of Association or any law, whichever is the earlier.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The affirmative vote
of a majority of the shares voting on the matter is required to approve such resolution where <B>the election of each director
candidate shall be voted separately</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The Company&rsquo;s Board of Directors
unanimously recommends that you vote &ldquo;FOR&rdquo; the proposal included in this Item.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">ITEM 4 &ndash; ELECTION OF MR.
ROBERT FREIDMAN AS A DIRECTOR AND</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">DETERMINE HIS REMUNERATION TERMS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The company&rsquo;s
Articles of association provide that, generally, the directors in the Company shall be elected at an Annual Meeting and shall serve
in their office until the next Annual Meeting, or until they cease to serve in their office in accordance with the provisions of
the Articles of Association or any law, whichever is earlier. Also, directors may be appointed by the Board of Directors and such
director&rsquo;s term shall expire upon the next annual shareholders meeting, unless elected in such meeting. Our Board of Directors
appointed Mr. Robert Freidman as a director on October 13, 2016 after he declared in writing that he possesses the requisite skills
and expertise, as well as sufficient time, to perform his duties as a Director in the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our Board of Directors
determined that Mr. Robert Freidman is an independent director in accordance with NASDAQ Stock Market Rule 5605(a)(2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to shareholders&rsquo;
approval of Mr. Freidman election, he will be entitled to compensation, in connection with his office as a director, retroactively
as of his date of commencement serving as a director, of the following: (i) an annual base compensation of US$ 30,000; (ii) issuance
of options to purchase up to 30,000 of the Company&rsquo;s Ordinary Shares. Such options are issued at an exercise price equal
to the last known closing price of the Ordinary Shares of the Company on the Nasdaq Capital Market as of October 13, 2016 (the
day of the appointment by the Board of Directors), and the vesting schedule and other terms thereof will be as set forth in the
Company&rsquo;s 2013 Incentive Option Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Board of Directors
and Compensation Committee of the Company determined that the proposed compensation terms of Mr. Freidman are consistent with the
Company&rsquo;s compensation policy (the &ldquo;<B>Policy</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Biographical information about the candidate
is provided below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Robert Friedman&nbsp;</I>has been a
member of our Board od Directors since October 2016. Mr. Friedman has had a long career in life sciences management consulting
that began with The Wilkerson Group in 1987 and has included IBM Corporation, Easton Associates, LLC, where he was a co-founder,
and Navigant Consulting, Inc.&nbsp; He has advised companies both large and small in biotechnology, pharmaceuticals, medical devices
and diagnostics.&nbsp; Mr. Friedman&rsquo;s areas of expertise include corporate and product strategy development and execution,
pre-commercial planning, and due diligence.&nbsp; In addition to his experience as a consultant, Mr. Friedman spent five years
as an equity analyst for several investment banks including Lehman Brothers, Paine Webber and Hanover Securities, where he covered
universes of both large- and small-cap biotech companies.&nbsp;Mr. Friedman began his career as an Associate at Steinberg &amp;
Lyman, a venture capital fund dedicated to creating new biopharmaceutical firms.&nbsp; There, he was instrumental in founding Genetic
Therapy, Inc., the first gene therapy company, which was sold to Novartis.&nbsp; Mr. Friedman holds an MBA in Marketing and Finance
from the Johnson Graduate School of Management, Cornell University, and a BA in Biology from Yeshiva University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is therefore proposed that the following
resolution be adopted at the Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>RESOLVED</B>,
to elect Mr. Robert Freidman to serve as a director of the Company, until the next Annual Meeting, or until he ceases to serve
in his office in accordance with the provisions of the Company&rsquo;s Articles of Association or any law, whichever is the earlier,
and to approve his remuneration terms in connection with his office as a director, as provided for in this proxy statement.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The affirmative vote
of a majority of the shares voting on the matter is required to approve this resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The Company&rsquo;s Board of Directors
unanimously recommends that you vote &ldquo;FOR&rdquo; the proposal included in this Item</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">ITEM 5 &ndash; APPROVAL OF THE
TRANSFER OF THE OPTIONS FROM MR. RAN</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">NUSSBAUM TO THE PONTIFAX GROUP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At the annual meeting
of shareholders of the Company, which took place on August 9, 2016, it was approved to grant options to the members of the Board
of Directors, including Mr. Ran Nussbaum.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the terms of
the grant, Mr. Nusbaum may not assign the options, and Mr. Nussbaum has requested that the Company grant him a waiver to assign
the options he was granted to Pontifax Group, a group of venture funds who are shareholders of the Company and in which he serves
as a managing partner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">It is therefore proposed that the following
resolution be adopted at the Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>RESOLVED,
</B>to grant a waiver on the transfer of options to purchase shares of the Company from Mr. Ran Nussbaum to the Pontifax Group<B>.</B>&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The affirmative vote
of a majority of the shares voting on the matter is required to approve this resolution.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The Company&rsquo;s Board of Directors
unanimously recommends that you vote &ldquo;FOR&rdquo; the proposal included in this Item</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">ITEM 6 &ndash; APPROVAL OF THE
ENGAGEMENT WITH DR. DALIA MEGIDDO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">Dr.
Dalia Megiddo has been providing services relating to the Company&rsquo;s intellectual property and relevant patent filings, where
she was reporting to the Chief Executive Officer of the Company (the &ldquo;<B>Services</B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Dr. Megiddo, a member of the Board of Directors,
has not received any remuneration for the Services, and the parties agreed that a one time payment of $50,000 plus VAT is appropriate
and reasonable under the circumstances, and that receiving the Services from another service provider, at a similar professional
level would likely cost the Company more than $50,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board of Directors and the Compensation
Committee <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">concluded that the terms of compensation
of Dr. Megiddo exceed the limitations set forth under the Policy. However, after taking into consideration Dr. Megiddo&rsquo;s
experience and deep knowledge of the Company&rsquo;s patents and other intellectual property rights that it is in the best interest
of the Company to have received the Services from Dr. Megiddo and continue to receive them as appropriate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It is proposed that the following resolution be adopted at the
Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="background-color: white">&ldquo;<B>RESOLVED</B>,
to approve the engagement with Dr. Megiddo under the terms set above, and one-time payment of $50,000 plus VAT for such Services,
which amount exceeds the limitation set forth in the Policy, as such engagement is necessary under the circumstances, is beneficial
to the Company compared to the alternatives and as a whole is in the Company&rsquo;s best interest.&rdquo; </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since the <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">terms
of compensation </FONT>of <FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">Dr. Megiddo</FONT>
exceed the limitations in the Policy, the affirmative vote of a majority of the shares voting on the matter is required to approve
this resolution, providing either (i) included in such majority is at least a majority of the shares of shareholders who are non-controlling
shareholders and do not have a personal interest in the said resolution (excluding for such purpose any abstentions disinterested
majority); or (ii) the total number of shares of shareholders specified in clause (i) who voted against this resolution does not
exceed two percent (2%) of the voting rights in the Company<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>2</SUP></FONT>.<FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The Company&rsquo;s Board of Directors
unanimously recommends that you vote &ldquo;FOR&rdquo; the proposal included in this Item.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0"><FONT STYLE="font-size: 8pt"><SUP>2
</SUP>In connection with your vote, you are asked to indicate on the enclosed proxy card whether you are a controlling shareholder
or have a personal interest in the resolutions (excluding a personal interest that is not related to a relationship with a controlling
shareholder). Under the Companies Law, in general, a person will be deemed to be a controlling shareholder if the person has the
power to direct the activities of the company, other than by reason of being a director or other office holder of the company.
A person holding 25% of the Company&rsquo;s share capital is deemed to be a controlling shareholder. Also, you are deemed to have
a personal interest if any member of your immediate family or their spouse has a personal interest in the adoption of the proposal.
In addition, you are deemed to have a personal interest if a company, other than Bioblast Pharma Ltd. that is affiliated with
you has a personal interest in the adoption of the proposal. Such company is a company in which you or a member of your immediate
family serves as a director or chief executive officer, has the right to appoint a director or the chief executive officer, or
owns 5% or more of the outstanding shares. However, you are not deemed to have a personal interest in the adoption of the proposal
if your interest in such proposal arises solely from your ownership of the Company&rsquo;s shares, or to a matter that is not
related to a relationship with a controlling shareholder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BIOBLAST PHARMA LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THIS PROXY IS SOLICITED ON BEHALF OF THE
BOARD OF DIRECTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The undersigned hereby
appoints Mr. Fredric Price, Executive Chairman of the Board of Directors and Chief Executive Officer and Mr. Oren Elmaliah, and
each of them, as agents and proxies of the undersigned, with full power of substitution to each of them, to represent and to vote
on behalf of the undersigned all the Ordinary Shares of Bioblast Pharma Ltd.&nbsp;(the &ldquo;<B>Company</B>&rdquo;) which the
undersigned is entitled to vote at the Annual and Extraordinary General Meeting of Shareholders (the &ldquo;<B>Annual and Extraordinary
General Meeting</B>&rdquo;) to be held at the offices of the Company&rsquo;s Israeli counsels (Zysman, Aharoni, Gayer &amp; Co.)
at &ldquo;Beit Zion&rdquo;, 41-45 Rothschild Blvd., 8th Fl., Tel Aviv, Israel, on December 21, 2017, at 10:00 a.m. Israel time,
and at any adjournments or postponements thereof, upon the following matters, which are more fully described in the Notice of Annual
and Extraordinary General Meeting of Shareholders and Proxy Statement relating to the Annual and Extraordinary General Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This Proxy, when properly
executed, will be voted in the manner directed herein by the undersigned. If no direction is made with respect to any matter, this
Proxy will be voted as abstained for such matter, whether or not you specifically indicate a &ldquo;ABSTAIN&rdquo; vote.&nbsp;Any
and all proxies heretofore given by the undersigned are hereby revoked.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B>(Continued and
to be signed on the reverse side)</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL AND EXTRAORDINARY GENERAL MEETING
OF SHAREHOLDERS OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BIOBLAST PHARMA LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 21, 2017 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">PLEASE
SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE </FONT><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">To reappoint Kost, Forer, Gabbay &amp; Kasierer (a member of Ernst &amp; Young Global) as the Company&rsquo;s
independent registered public accounting firm until the next Annual Meeting and to authorize the Board of Directors to determine
its compensation for the fiscal year ending December 31, 2017.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 16%; padding: 0; text-indent: 0"><B>FOR</B></TD>
    <TD STYLE="width: 16%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 20%; padding: 0; text-indent: 0"><B>AGAINST</B></TD>
    <TD STYLE="width: 15%; padding: 0; text-indent: 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="width: 18%; padding: 0; text-indent: 0"><B>ABSTAIN</B></TD></TR>
</TABLE>


<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">To re-elect six (6) members to the Board of Directors to act as directors of the Company until
the next annual meeting, as follows:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">a.</TD><TD STYLE="text-align: left">To re-elect Mr. Fredric Price to serve as a director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">b.</TD><TD STYLE="text-align: left">To re-elect Dr. Dalia Megiddo to serve as a director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">c.</TD><TD STYLE="text-align: left">To re-elect Mr. Michael Burshtine to serve as a director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">d.</TD><TD STYLE="text-align: left">To re-elect Mr. Tom Dubin to serve as a director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">e.</TD><TD STYLE="text-align: left">To re-elect Mr. Ran Nussbaum to serve as a director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">f.</TD><TD STYLE="text-align: left">To re-elect Dr. Marlene Haffner to serve as a director.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 95%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">To Elect Mr. Robert Freidman as a Director of the Company and determine his Remuneration Terms.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<!-- Field: Page; Sequence: 12 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><P STYLE="margin-top: 0; margin-bottom: 0"></P>
                                                   <P STYLE="margin-top: 0; margin-bottom: 0">4.</P></TD><TD STYLE="text-align: left">To approve the transfer of the options from Mr. Ran Nussbaum to the Pontifax Group.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">5.</TD><TD STYLE="text-align: justify">To approve the engagement with Dr. Dalia Megiddo.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><B>FOR</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 16%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 20%"><B>AGAINST</B></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 15%"><FONT STYLE="font-family: Wingdings">&#168;</FONT></TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 18%"><B>ABSTAIN</B></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: left">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 35.45pt"></TD><TD STYLE="width: 18pt">a.</TD><TD STYLE="text-align: justify">The undersigned confirms that the undersigned does not have a conflict of interest (referred to
as a &ldquo;personal interest&rdquo; under the Israeli Companies Law, as described in the Proxy Statement) in the approval of proposal
5<FONT STYLE="font-size: 10pt"><SUP>3</SUP></FONT>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings"><B>&#168;</B></FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>YES</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In their discretion, the proxies are authorized
to vote upon such other matters as may properly come before the Annual and Extraordinary Meeting or any adjournment or postponement
thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Note: Please contact the Company if you
have any questions or reservations with respect to the declaration above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 13%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 20%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 14%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 20%; padding: 0; text-indent: 0; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 13%; padding: 0; text-indent: 0">, 2017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">NAME</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">SIGNATURE</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">DATE</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0; width: 20%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 13%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0; width: 20%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 14%">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0; text-indent: 0; width: 20%">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0; width: 13%">, 2017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">NAME</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">SIGNATURE</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">DATE</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Please sign exactly as your name appears
on this Proxy. When shares are held jointly, each holder should sign. When signing as executor, administrator, trustee or guardian,
please give full title as such. If the signed is a corporation, please sign full corporate name by duly authorized officer, giving
full title as such. If signer is a partnership, please sign in partnership name by authorized person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>















<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><SUP>3
</SUP></FONT><FONT STYLE="font-size: 8pt">A court ruling issued by Israeli court recently provides that a shareholder has to indicate
explicitly whether it does not have a personal interest in the approval of certain proposals or whether it is a controlling shareholder
in the Company (where a holder of 25% of the company&rsquo;s share capital is assumed to be classified as a controlling shareholder.
If you do not respond positively to this item your vote will not be counted in the required majority to approve the proposal.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt"></FONT></P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
