<SEC-DOCUMENT>0001171843-22-003632.txt : 20220512
<SEC-HEADER>0001171843-22-003632.hdr.sgml : 20220512
<ACCEPTANCE-DATETIME>20220512160558
ACCESSION NUMBER:		0001171843-22-003632
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220512
FILED AS OF DATE:		20220512
DATE AS OF CHANGE:		20220512

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MOLECULAR PARTNERS AG
		CENTRAL INDEX KEY:			0001745114
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40488
		FILM NUMBER:		22917743

	BUSINESS ADDRESS:	
		STREET 1:		WAGISTRASSE 14
		CITY:			Z?RICH-SCHLIEREN
		STATE:			V8
		ZIP:			8952
		BUSINESS PHONE:		41 44 755 77 00

	MAIL ADDRESS:	
		STREET 1:		WAGISTRASSE 14
		CITY:			Z?RICH-SCHLIEREN
		STATE:			V8
		ZIP:			8952
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<TYPE>6-K
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<FILENAME>f6k_051222.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<html><head><title></title></head><body style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><div align="center"><div style="margin-top: 3pt; margin-bottom: 12pt;"><div style="font-size: 1pt; border-top: Black 2.5pt solid; border-bottom: Black 1.1pt solid; width: 100%;">&#160;</div></div><p style="font-size: 14pt;" align="center"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong></p><p style="font-size: 14pt; text-transform: uppercase;" align="center"><strong>Form 6-K</strong></p><p style="text-align: center;"><strong></strong></p><p style="text-align: center;"><strong>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</strong></p><p style="text-align: center;"><strong></strong><strong>For the month of May 2022</strong></p><p style="text-align: center;">Commission File Number: <strong>001-40488</strong></p><p style="text-align: center;"><font style="font-size: 12pt;"><strong>Molecular Partners AG</strong></font><br />(Translation of registrant's name into English)</p><p style="text-align: center;"><strong>Wagistrasse 14<br />8952 Zurich-Schlieren<br />Switzerland</strong><br />(Address of principal executive office)</p></div><p>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.<br />Form 20-F [&#160;X ] &#160;&#160;&#160;&#160;&#160;Form 40-F [&#160;&#160; ]</p><p>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <u>&#160;&#160;&#160;&#160;&#160; &#160;</u></p><p>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <u>&#160;&#160;&#160;&#160;&#160; &#160;</u></p><hr style="page-break-after: always;" noshade="noshade" /><p>
 <p align="center"><strong>EXPLANATORY NOTE</strong></p>   <p>Molecular Partners AG (the "Company") is filing this Form 6-K to furnish (i) a press release the Company issued on May 12, 2022 and (ii) condensed consolidated interim financial statements (unaudited) as of, and for the three months ended, March 31, 2022, which are furnished herewith as Exhibit 99.1 and 99.2, respectively.</p> </p><p /><p>
 <hr noshade="noshade" style="page-break-after: always;" />   <p align="center"><font style="font-size:10pt;"><strong>EXHIBIT INDEX</strong></font></p>   <p align="center" style="text-align: center;"><font style="font-size:10pt;">&#160;</font></p>  <table style="border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><strong><u>Exhibit&#160;No.</u></strong></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td style="vertical-align: bottom ; "><font style="font-size:10pt;"><strong><u>Description</u></strong></font></td></tr><tr><td class="hugin">&#160;</td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td></tr><tr><td class="hugin"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">99.1</a></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;"><a href="exh_991.htm" rel="nofollow">Press Release dated May 12, 2022</a> </font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td></tr><tr><td class="hugin"><font style="font-size:10pt;"><a href="exh_992.htm" rel="nofollow">99.2</a></font></td><td class="hugin"><font style="font-size:10pt;">&#160;</font></td><td class="hugin"><font style="font-size:10pt;"><a href="exh_992.htm" rel="nofollow">Condensed consolidated interim financial statements (unaudited)</a> </font></td></tr></table></p><hr style="page-break-after: always;" noshade="noshade" /><p style="text-align: center;"><strong>SIGNATURES</strong></p><p>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><table style="font-family: Times New Roman; font-size: 10pt;" border="0" width="100%" cellspacing="0" cellpadding="0"><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td style="text-decoration: underline;" align="center" width="47%"><strong>&#160;&#160;&#160;&#160;Molecular Partners AG&#160;&#160;&#160;&#160;</strong></td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">(Registrant)</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">&#160;</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%"></td></tr><tr valign="top"><td width="47%">Date: May 12, 2022</td><td width="6%">&#160;</td><td style="text-decoration: underline;" align="center" width="47%">&#160;&#160;&#160;&#160;/s/ PATRICK AMSTUTZ&#160;&#160;&#160;&#160;</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">Patrick Amstutz</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%">Chief Executive Officer</td></tr><tr valign="top"><td width="47%">&#160;</td><td width="6%">&#160;</td><td align="center" width="47%"></td></tr></table></body></html>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exh_991.htm
<DESCRIPTION>PRESS RELEASE
<TEXT>
<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" ><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" ></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Interim Management Statement Q1 2022 of Molecular Partners: Cash Runway into 2026 and Portfolio Progress Highlight Strategic Momentum</strong></font></p><p style="text-align: center;"><strong></strong></p><p>
 <p align="left">ZURICH-SCHLIEREN, Switzerland and CONCORD, Mass., May  12, 2022  (GLOBE NEWSWIRE) -- <strong>&#160;Ad hoc announcement pursuant to Art. 53 LR:</strong>&#160;<u>Molecular Partners AG</u> (SIX: MOLN; NASDAQ: MOLN), a clinical-stage biotech company developing a new class of custom-built protein drugs known as DARPin&#160;therapeutics, today announced its interim management statement for the quarter ending March 31, 2022.</p>  <p align="justify">&#8220;Following a significant capital inflow in January, resulting from Novartis exercising its right to in-license global rights to ensovibep, we are leveraging our strong cash position to follow our strategy; to prioritize candidates where DARPins have an innate advantage over other approaches. Programs like ensovibep, the breakthrough design of MP0533 and our new research in radioligand therapies, showcase the success of our evolved strategy, which emphasizes highly differentiated molecules that can rapidly demonstrate clear activity and benefit for patients,&#8221; said Patrick Amstutz, Molecular Partners&#8217; CEO. &#8220;We continue to support Novartis on next steps for ensovibep&#8217;s global strategy as we advance our internal portfolio, building on the strong clinical performance our DARPins candidates have continually demonstrated.&#8220;</p>  <p align="justify"><strong>Research &amp; development highlights:</strong></p>  <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;"><strong>Ensovibep COVID-19 antiviral program: Positive Phase 2 results, Option exercised by Novartis</strong> <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;">Part A of the EMPATHY global clinical trial met its primary endpoint with a statistically significant reduction in viral load over eight days in the ensovibep arms compared to placebo</li><li style="text-align:justify;">Secondary EMPATHY endpoint of hospitalization and/or emergency room (ER) visits related to COVID-19, or death showed an overall 78% reduction in relative risk of events across all ensovibep arms compared to placebo</li><li style="text-align:justify;">In April, the results of the EMPATHY Part A study were presented as a late breaker at the 2022 European Congress of Clinical Microbiology and Infectious Diseases (ECCMID)</li><li style="text-align:justify;">Novartis exercised the option to license all rights to ensovibep, triggering a CHF 150 million payment to Molecular Partners</li><li style="text-align:justify;">Novartis requested Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for ensovibep. As previously reported by Novartis, the EUA remains under review, and the FDA has indicated that Phase 3 data will be required prior to authorization. Novartis is currently engaged in developing a Phase 3 protocol for alignment with the FDA&#8217;s recommendations<br ></li></ul> </li><li style="text-align:justify;"><strong>MP0310 (FAP x 4-1BB)</strong> <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;">Amgen returned global rights for MP0310 following a strategic pipeline review. The ongoing Phase 1 study is expected to continue as planned, with data expected later in 2022 that will inform further business development activity</li></ul> </li></ul>  <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;"><strong>MP0317 (FAP x CD40):</strong> <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;">The Phase 1 open-label dose escalation study, initiated in Q4 2021, continues in patients with solid tumors known to express FAP. Initial data from this study is expected in the second half of 2022</li><li style="text-align:justify;">In March 2022, preclinical data were published in the research journal <em>Cancer Immunology Researc</em><em>h</em><sup><em>1</em></sup> supporting MP0317&#8217;s potential to deliver tumor-localized immune activation while avoiding systemic toxicity seen with other CD40-targeting agents<br ></li></ul> </li><li style="text-align:justify;"><strong>MP0533 (CD33 x CD70 x CD123 x CD3)</strong><br > <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;">Following continued promising preclinical data supporting the unique design and mechanism of this candidate, a lead molecule was selected and named MP0533. It is expected to enter clinical development in 2022</li><li style="text-align:justify;">New <em>in vivo</em> data from the MP0533 program will be presented at the European Hematology Association Congress (EHA2022) which will be held in Vienna, Austria from June 9 to 12<br ></li></ul> </li></ul>  <p align="justify"><strong>Q1 2022 operational and financial highlights:</strong></p>  <ul type="disc"><li style="margin-bottom:3pt; text-align:justify;">Strong financial position with CHF&#160;296.2&#160;million in cash (including short term deposits) as of March&#160;31, 2022</li><li style="text-align:justify;">Revenue of CHF&#160;172.8&#160;million primarily due to payment received from Novartis upon exercise of option to in-license global rights to ensovibep</li><li style="text-align:justify;">Net cash from operating activities of CHF&#160;163.6&#160;million in Q1 2022</li><li style="text-align:justify;">Operating profit of CHF&#160;152.6&#160;million and net profit of CHF&#160;153.1&#160;million in Q1 2022</li><li style="text-align:justify;">Company expected to be funded into 2026, excluding any potential payments from R&amp;D partnerships</li><li style="margin-bottom:3pt; text-align:justify;">The Q1 2022 Financial Statements are available on the company's <u>website</u></li></ul>  <p align="justify"><strong>Ensovibep for COVID-19: In partnership with Novartis</strong></p>  <p align="justify">Ensovibep is a first-in-class, multi-specific pan-variant DARPin therapeutic candidate, designed to bind three different epitopes on the receptor-binding domain (RBD) of the SARS-CoV-2 spike protein simultaneously.</p>  <p>Part A of the EMPATHY clinical trial &#8211; a randomized, placebo-controlled study which enrolled 407 symptomatic patients infected with SARS-CoV-2 &#8211; met its primary endpoint with a statistically significant reduction in viral load over eight days in the ensovibep arms compared to placebo. The secondary endpoint of hospitalization and/or emergency room (ER) visits related to COVID-19, or death showed an overall 78% reduction in relative risk of events across all ensovibep arms compared to placebo.</p>  <p align="justify">Pursuant to the Option and Equity Rights Agreement executed in October 2020 with Novartis and following positive Phase 2 (Part A) results, Novartis exercised its option for ensovibep in January 2022, triggering a milestone payment of CHF 150 million to Molecular Partners. Novartis is now responsible for further development, manufacturing, distribution and commercialization activities.</p>  <p align="justify">Novartis requested Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for ensovibep. As previously reported by Novartis, the application of the EUA remains under review and additional clinical data will be required to be authorized. While the current Omicron wave of SARS-Cov-2, and the lower incidence of hospitalization associated with it, has made clinical trials challenging to execute in this evolving environment, Novartis is continuing to supply additional documentation and data to the FDA in regards to the EUA review. The FDA has indicated that additional Phase 3 clinical data will be required to support EUA; Novartis is currently engaged in developing a Phase 3 study protocol in alignment with the FDA&#8217;s recommendations.</p>  <p align="justify">If approved or authorized by relevant regulatory authorities, ensovibep would be the first approved multi-specific antiviral candidate for the treatment of COVID-19 and the first DARPin therapy approved or authorized by a regulatory agency. Based on the strong clinical performance of ensovibep, the Company is assessing further viral disease areas where DARPins can offer advantages over existing antivirals or where no effective treatments exist.</p>  <p align="justify"><strong>Oncology: Phase 1 trial of MP0317; Phase 1 trial of MP0310; Progress of AML candidate MP0533; Development of a DARPin-based radioligand program</strong><br >The ongoing Phase 1 trial of MP0317 is expected to enroll up to 30 patients across six dosing cohorts and up to 15 patients are then expected to be enrolled in a dose expansion cohort. In addition to evaluating monotherapy dynamics, the study plans to gather a wide variety of biomarker data to support the establishment of combination therapies with MP0317 in specific indications. MP0317 targets both the fibroblast activation protein (FAP) and the immunostimulatory protein CD40. MP0317 is designed to enable tumor-localized immune activation and fewer side effects compared to other CD40-targeting agents.</p>  <p align="justify">MP0310 is also designed to deliver tumor-localized immune activation and activates the immunostimulatory 4-1BB protein. A Phase 1 study of this candidate as a treatment for solid tumors is ongoing, with a full dataset expected later in 2022. Following Amgen&#8217;s strategic pipeline review and return of global rights to MP0310, the Phase 1 dataset will inform further business development activity.</p>  <p align="justify">MP0533, Molecular Partners&#8217; novel acute myeloid leukemia (AML) candidate, is a DARPin designed to engage CD3 on T-cells while binding up to three tumor-associated antigens (CD33, CD70 and CD123) on AML cells. Preclinical studies have shown the binding strength of MP0533 increasing significantly with the number of tumor-associated antigens present. This &#8216;avidity-dependent&#8217; mechanism, enabled by the DARPin platform, leads to preferential targeting of AML cells which, unlike healthy cells, generally express two or more of these antigens. Once bound, the AML cells are marked for termination by nearby T-cells activated by MP0533. Clinical development is expected to begin in 2022.</p>  <p align="justify">Molecular Partners is also collaborating with Novartis to develop, manufacture and commercialize DARPin-conjugated radioligand therapies (DARPin-RLTs). The collaboration combines DARPins' unique properties, including small size and very high affinity and specificity, with the RLT capabilities and expertise of Novartis. DARPin-RLTs have the potential to deliver molecule-targeted radiation deeply into the tumor thereby harnessing the power of radioactive atoms for tumor-killing. Under the terms of the agreement, Molecular Partners will collaborate with Novartis to discover DARPin-RLTs that target specific tumor-associated antigens. Both parties will collaborate on the discovery and optimization of the therapeutic candidates for further development.</p>  <p align="justify"><strong>Balance sheet: Strong cash and equity positions as of March 2022</strong></p>  <ul type="disc"><li style="margin-bottom:6pt; text-align:justify;">Ongoing strong financial position with CHF&#160;296.2&#160;million in cash and short-term deposits as of March&#160;31, 2022</li><li style="margin-bottom:6pt; text-align:justify;">Net cash inflow from operating activities of CHF&#160;163.6&#160;million in the first three months of 2022</li></ul>  <p align="justify"><strong>Financial outlook 2022</strong></p>  <p align="justify">For the full year 2022, at constant exchange rates, the Company expects total expenses of CHF&#160;75 - 85 million, of which approximately CHF 9 million will be non-cash effective costs for share-based payments, IFRS pension accounting and depreciation. This cash flow guidance does not include any potential receipts from R&amp;D partnerships.</p>  <p align="justify">With CHF&#160;296.2&#160;million in cash and short-term time deposits and no debt as of March&#160;31, 2022, the Company expects to be funded into 2026, excluding any potential receipts from R&amp;D partners.</p>  <p align="justify"><strong>Financial Calendar</strong></p>  <p align="justify">25 August 2022 - Publication of Half-year Results 2022 (unaudited)</p>  <p align="justify">27 October 2022 - Interim Management Statement Q3 2022</p>  <p align="justify"><strong>About DARPin therapeutics</strong></p>  <p align="justify">DARPin therapeutics are a new class of custom-built protein therapeutics based on natural binding proteins that open a new dimension of multi-functionality and multi-target specificity in drug design. A single DARPin candidate can engage more than five targets, and its flexible architecture and small size offer benefits over conventional monoclonal antibodies or other currently available protein therapeutics. DARPin therapeutics have been clinically validated through to registration via the development of abicipar, Molecular Partners&#8217; most advanced DARPin drug candidate. The DARPin platform is a fast and cost-effective drug discovery engine, producing drug candidates with optimized properties for development and very high production yields.</p>  <p align="justify"><strong>About Molecular Partners AG&#160;</strong></p>  <p align="justify">Molecular Partners AG is a clinical-stage biotech company developing DARPin&#160;therapeutics, a new class of custom-built protein drugs designed to address challenges current modalities cannot. The Company has formed partnerships with leading pharmaceutical companies to advance DARPin&#160;therapeutics in the areas of ophthalmology, oncology, and infectious disease, and has compounds in various stages of clinical and preclinical development across multiple therapeutic areas.&#160;<u>www.molecularpartners.com</u>; Find us on Twitter -&#160;<u>@MolecularPrtnrs</u></p>  <p align="justify"><strong>Cautionary Note Regarding Forward-Looking Statements </strong></p>  <p align="justify">Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, implied and express statements regarding the clinical development of Molecular Partners&#8217; current or future product candidates, expectations regarding timing for reporting data from ongoing clinical trials or the initiation of future clinical trials, the potential therapeutic and clinical benefits of Molecular Partners&#8217; product candidates, the selection and development of future antiviral or other programs, and Molecular Partners&#8217; expected expenses and cash utilization for 2022 and its expectation that its current cash resources will be sufficient to fund its operations and capital expenditure requirements into 2026. These statements may be identified by words such as &#8220;believe&#8221;, &#8220;expect&#8221;, &#8220;may&#8221;, &#8220;plan&#8221;, &#8220;potential&#8221;, &#8220;will&#8221;, &#8220;would&#8221; and similar expressions, and are based on Molecular Partners AG&#8217;s current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. Some of the key factors that could cause actual results to differ from Molecular Partners&#8217; expectations include its plans to develop and potentially commercialize its product candidates; Molecular Partners&#8217; reliance on third party partners and collaborators over which it may not always have full control; Molecular Partners&#8217; ongoing and planned clinical trials and preclinical studies for its product candidates, including the timing of such trials and studies; the risk that the results of preclinical studies and clinical trials may not be predictive of future results in connection with future clinical trials; the timing of and Molecular Partners&#8217; ability to obtain and maintain regulatory approvals for its product candidates; the extent of clinical trials potentially required for Molecular Partners&#8217; product candidates; the clinical utility and ability to achieve market acceptance of Molecular Partners&#8217; product candidates; the potential impact of the COVID-19 pandemic on Molecular Partners&#8217; preclinical studies, clinical trials or operations, or the operations of third parties on which it relies; Molecular Partners&#8217; plans and development of any new indications for its product candidates; Molecular Partners&#8217; commercialization, marketing and manufacturing capabilities and strategy; Molecular Partners&#8217; intellectual property position; Molecular Partners&#8217; ability to identify and in-license additional product candidates; and other risks and uncertainties that are described in the Risk Factors section of Molecular Partners&#8217; Annual Report on Form 20-F for the fiscal year ended December 31, 2021 filed with Securities and Exchange Commission (SEC) on March 15, 2022 and other filings Molecular Partners makes with the SEC. These documents are available on the Investors page of Molecular Partners&#8217; website at <u>http://www.molecularpartners.com</u>. Any forward-looking statements speak only as of the date of this press release and are based on information available to Molecular Partners as of the date of this release, and Molecular Partners assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.</p>  <p><sup>1</sup>&#160;Rigamonti, N. et al. (2022), A multispecific anti-CD40 DARPin construct induces tumor-selective CD40 activation and tumor regression. Cancer Immunology Research</p> </p><p>For further details, please contact:<br ><br >Seth Lewis<br >seth.lewis@molecularpartners.com<br >Tel: +1 781 420 2361<br ><br >Shai Biran, Ph.D.<br >shai.biran@molecularpartners.com<br >Tel: +1 978 254 6286<br ><br >Thomas Schneckenburger, European IR & Media<br >thomas.schneckenburger@molecularpartners.com<br >Tel: +41 79 407 9952</p></body></html>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exh_992.htm
<DESCRIPTION>EXHIBIT 99.2
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<p style="margin: 0">Exhibit 99.2</p>

<p style="margin: 0">&#160;</p>

<p style="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; color: #163E66">Condensed consolidated interim financial statements
(unaudited)</p>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">3,474</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">142,019</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">4,551</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="color: black; text-align: center">5.9</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">4,523</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">6,739</td><td style="color: black; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; text-align: right">16,913</td><td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; text-align: right">18,514</td><td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: center">&#160;</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">4,550</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">7,389</td><td style="color: black; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: center">&#160;</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">6,754</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="color: black; text-align: center">5.3</td><td style="color: black">&#160;</td>
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    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">28,312</td><td style="color: black; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="color: black; text-align: left">Lease liability</td><td>&#160;</td>
    <td style="text-align: center">&#160;</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">1,191</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; text-align: right">30,432</td><td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: center; padding-bottom: 1pt">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; text-align: right">47,345</td><td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; text-align: right">311,842</td><td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; color: black; text-align: right">172,668</td><td style="border-bottom: Black 1pt solid; color: black; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>See accompanying notes, which form an integral part of these unaudited
condensed consolidated interim financial statements. </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>See accompanying notes, which form an integral part of these unaudited
condensed consolidated interim financial statements.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i></i></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">(171</td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(91</td><td style="text-align: left">)</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(32</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(69</td><td style="text-align: left">)</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">50</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(93,561</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(296</td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(70</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>See accompanying notes, which form an integral part of these unaudited
condensed consolidated interim financial statements.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i></i></p>

<!-- Field: Page; Sequence: 3 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i></i></p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>Condensed consolidated interim statement of changes in equity</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><sup>(1)</sup> See note 5.6</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>See accompanying notes, which form an integral part of these unaudited
condensed consolidated interim financial statements.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i></i></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #496F96"><font style="font-size: 12pt">Explanatory notes to
the condensed consolidated interim financial statements</font></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #496F96">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">1.&#160;&#160;&#160;&#160;&#160;&#160;&#160;General Information</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Molecular Partners AG (&quot;Company'&quot;) and its subsidiary (collectively
&quot;Molecular Partners&quot; or, &quot;Group&quot;) is a clinical stage biopharmaceutical company focusing on the discovery, development
and commercialization of DARPins, a novel class of therapeutic proteins. DARPins combine the specificity and selectivity of monoclonal
antibodies with many properties of small molecules, enabling new therapeutic approaches. The Company was founded on November 22, 2004,
and is domiciled at Wagistrasse 14, 8952 Schlieren, Canton of Zurich, Switzerland. It is subject to the provisions of the articles of
association and to article 620 et seq. of the Swiss Code of Obligations, which describe the legal requirements for limited companies (&ldquo;Aktiengesellschaften&rdquo;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Molecular Partners Inc. is a wholly owned subsidiary of Molecular Partners
AG. Molecular Partners Inc. was incorporated in the United States in the State of Delaware on October 8, 2018. Molecular Partners Inc.
is based in Cambridge, Massachusetts.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The unaudited condensed consolidated interim financial statements for
the three months ended March&#160;31, 2022 were approved for issuance by the Audit and Finance Committee on May 10, 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company&rsquo;s shares are listed on the SIX Swiss Exchange (Ticker:
MOLN) since November 5, 2014 and on the Nasdaq Global Select Market (Ticker: MOLN) since June 16, 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">2.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Basis of Preparation</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">These unaudited condensed consolidated interim financial statements
have been prepared in accordance with IAS 34 Interim Financial Reporting and should be read in conjunction with the Group's last annual
consolidated financial statements as at and for the year ended December 31, 2021. They do not include all the information required for
a complete set of consolidated financial statements prepared in accordance with IFRS as issued by the IASB. However, selected explanatory
notes are included to explain events and transactions that are significant to gain an understanding of the changes in the Group's financial
position and performance since the last annual consolidated financial statements as at and for the year ended December 31, 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The accounting policies set forth in the notes to those annual consolidated
financial statements have been consistently applied to all periods presented, except as per below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The condensed consolidated interim financial statements are presented
in thousands of Swiss Francs (TCHF), unless stated otherwise.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Group is monitoring the situation surrounding the COVID-19 pandemic
and its potential impact on patients, the team, the partners and the business. During the three months period ended March&#160;31, 2022
as well as of the reporting date there were no major disruptions to the operations. The Group continues to comply with all local and federal
instructions as it relates to the safety of our employees, patients and citizens.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The business is not subject to any seasonality. Revenues largely depend
on the underlying alliance contracts and the achievement of agreed milestones, while expenses are largely affected by the phase of the
respective projects, particularly with regard to external research and development expenditures.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Due to rounding, the numbers presented in the financial statements
might not precisely equal the accompanying notes.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;New or Revised IFRS Standards
and Interpretations</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A number of new or amended standards became applicable for annual periods
beginning on or after January 1, 2022. These standards did not have any significant impact on the Group&rsquo;s accounting policies and
did not require any retrospective adjustments.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Critical Accounting estimates
and judgment</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The condensed consolidated interim financial statements have been prepared
under the historical cost convention. In preparing these condensed consolidated interim financial statements management made judgments,
estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income
and expenses. Actual results may differ from these estimates.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The area involving a higher degree of judgment or complexity, and where
assumptions and estimates are significant to the consolidated financial statements is revenue recognition.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other explanatory notes</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.1&#160;&#160;&#160;&#160;&#160;Revenue</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On January 7, 2022, Novartis informed the Group of its intention to
exercise the option under the October 2020 Option and equity rights agreement . This was followed by the signing of a License agreement
between the two parties on January 17, 2022. This License agreement resulted in the Group becoming eligible to receive CHF&#160;150&#160;million
for the option exercise payment and in addition the Group was allowed to charge Novartis CHF&#160;13.1&#160;million for items related
to the commercial supply of ensovibep and drug substance secured by the Group. Both amounts were recognized as revenue during the three
months ended March 31, 2022. At the signing of the License agreement, the Group also assigned the Reservation agreement with the FOPH
(from August 2020 and as amended in December 2021) to Novartis. This assignment allowed the Group to also recognize into revenue, the
reservation fee of CHF&#160;7&#160;million received from the FOPH in August 2020.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On December 14, 2021, the Group announced entering into a License and
collaboration agreement with Novartis to develop DARPin-conjugated radioligand therapeutic candidates for oncology. The Group is able
to recharge Novartis its employee related expenses associated with the research activities. During the three months ended March&#160;31,
2022 the Group recognized as revenue an amount of TUSD 257 ( TCHF 240) in relation to this recharge. As part of the same agreement the
Group received in January 2022 the upfront fee of USD 20 million (CHF 18.6 million). Revenue related to the upfront payment is recognized
over time in line with the progress made over the duration of the contractually agreed three year research plan. Progress towards completion
of the research plan is based on the input method and is measured by employee hours worked on the related research activities as specified
in the agreement relative to the total estimated hours to be incurred. During the three months ended March&#160;31, 2022, the Group recognized
into revenue an amount of TCHF 1,657 related to this upfront payment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">During the three months ended March&#160;31, 2022, the Group increased
its estimate of the total future costs required to satisfy the performance obligation under the Amgen collaboration. This change in estimate
affects the allocation of revenue over time and has no impact on the total amount recognized or to be recognized into revenue under the
agreement with Amgen. For the three months ended March&#160;31, 2022, the Group reported revenue of TCHF 804 under this collaboration
(March&#160;31, 2021: TCHF 815). Please also refer to note 5.12 for post balance sheet date events.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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">Revenues in the table below are attributable to individual countries
and are based on the location of the Group&rsquo;s collaboration partners.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td>Revenues by country</td><td>&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">in TCHF, for the three months ended March 31</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">2022</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="border-bottom: Black 1pt solid; text-align: left; padding-bottom: 1pt">Revenues USA</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Total revenues</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">172,778</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 1pt solid; color: black; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: right">2021</td>
    <td style="border-bottom: Black 1pt solid; color: black; text-align: right">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="color: black; text-align: left">FOPH, Switzerland</td><td style="color: black">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="border-bottom: Black 1pt solid; color: black; text-align: left; padding-bottom: 1pt">Amgen Inc., USA</td><td style="border-bottom: Black 1pt solid; color: black; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="color: black; text-align: left">Total revenues</td><td style="color: black">&#160;</td>
    <td style="color: black; text-align: left">&#160;</td><td style="color: black; text-align: right">172,778</td><td style="color: black; text-align: left">&#160;</td><td style="color: black">&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.2&#160;&#160;&#160;&#160;&#160;Other income</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the first quarter of 2021 the Group entered into an agreement with
Novartis to facilitate manufacturing of MP0420 drug supply at a third party supplier. The related agency services during the three months
ended March&#160;31, 2022 amounted to TCHF 5 (three months ended March&#160;31, 2021: TCHF 162) and are presented as other income in the
condensed consolidated interim statement of comprehensive income.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.3&#160;&#160;&#160;&#160;&#160;Contract liability</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The table below presents the movement in the Group's contract liabilities
during the three months ended March&#160;31, 2022:</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">in CHF thousands</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">Contract liability at December 31, 2021</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">Contract liability at March 31, 2022</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 55%">Amgen</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(1,657</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">7,000</td><td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(7,000</td><td style="border-bottom: Black 1pt solid; text-align: left">)</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td>Total</td><td>&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">in CHF thousands</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td><td>&#160;</td>
    <td colspan="3">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">17,937</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">7,839</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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">5.4&#160;&#160;&#160;&#160;&#160;Issuances of equity securities</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March&#160;31, 2022, as a result of the exercise of employee
stock options and the vesting of Performance Share Units (&quot;PSUs&quot; ) the outstanding issued share capital of the Company increased
to CHF 3,232,569 divided into 32,325,685 fully paid registered shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.5&#160;&#160;&#160;&#160;&#160;Dividends</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Group has paid no dividends since its inception and does not anticipate
paying dividends in the foreseeable future.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.6&#160;&#160;&#160;&#160;&#160;Share-based compensation</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March&#160;31, 2022, 285,925 options were outstanding (December
31, 2021: 318,902 options) under all active option plans. As of March&#160;31, 2022, and December 31, 2021 all options had vested.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As of March&#160;31, 2022, a total of 547,339 PSUs and 95,635 RSUs
were outstanding, of which none were vested (as of December 31, 2021 a total of 547,485 PSUs and 95,635 RSUs were outstanding, of which
also none were vested). The movements in the number of share-based awards (options, RSUs and PSUs) outstanding during the three month
period ended March&#160;31, 2022, is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">Total numbers</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; white-space: nowrap; text-align: right">Weighted average exercise price (CHF)</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">The share-based compensation costs recognized during the three
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0" ></p>

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 3pt; width: 25%"><div style="font-size: 1pt; border-top: Black 1pt solid">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><sup></sup></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0"><sup>1</sup> Performance adjustments indicate forfeitures
due to non-market performance conditions not achieved</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0"><sup>2</sup> Forfeited due to service conditions not fulfilled</p>

<!-- Field: Page; Sequence: 8 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0" ></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">5.7&#160;&#160;&#160;&#160;&#160;Financial income
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Financial income</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">in CHF thousands, for the three months ended March 31</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Financial expense</p>

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(14</td><td style="text-align: left">)</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Exchange results primarily represent unrealized foreign exchange results
on the cash and short-term time deposit balances held in USD, EUR and in GBP, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.8&#160;&#160;&#160;&#160;&#160;Income taxes</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">The Group has in recent years reported operating losses that
resulted in a tax loss carry-forward in Switzerland of TCHF 212,218 as of December 31, 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In the current period, the Group generated taxable income primarily
as a result of the revenue generated from the exercise of the option agreement by Novartis followed by the signing of a License agreement
(note 5.1). However, income tax expense has been calculated for the period ended on March 31, 2022, based on our best estimate of the
effective income tax rate expected for the full financial year, being 0 % on March 31, 2022, given that any tax income is anticipated
to be offset by the utilization of previously unrecognized tax losses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Given its past history of operating losses and no tax profitability,
in prior periods the Group did not recognize any deferred tax assets in relation to its tax losses and other tax deductible temporary
differences.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.9&#160;&#160;&#160;&#160;&#160;Other comprehensive result</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">In order to recognize remeasurements of the net defined benefit obligation
in the period in which they arise, the Group utilizes its independent actuaries to update the calculation of the defined benefit obligation
and plan assets at each reporting date. The primary component of the remeasurement as of and for the three months period ended March&#160;31,
2022, relates to the increase in the discount rate by 90 points relative to December 31, 2021.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">5.10&#160;&#160;&#160;Earnings per
share</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Basic net result per share is calculated by dividing the net result
attributable to shareholders by the weighted average number of shares issued and outstanding during the interim periods presented, excluding
any shares held as own shares. Diluted net result per share additionally takes into account the potential conversion of all dilutive potential
ordinary shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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

<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid">for the three months ended March 31</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">2022</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="border-bottom: Black 1pt solid; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">2021</td>
    <td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 74%">Weighted average number of shares used in computing basic earnings per share</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">32,315,628</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td>Weighted average number of shares used in computing diluted earnings per share</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">29,153,173</td><td style="text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #FF0090">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At March&#160;31, 2022, the number of shares that are dilutive is 820,022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.11&#160;&#160;&#160;Related parties</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Group did not enter into any related party transactions in the
interim periods presented.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">5.12&#160;&#160;&#160;Events after the balance
sheet date</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">On April 26, 2022 the Group announced that Amgen, its collaboration
partner for MP0310 (AMG 506), has informed the Group of their decision to return the global rights of MP0310 to Molecular Partners following
a strategic pipeline review. The Group is assessing the impacts of the contractual return of these global rights, including on the balance
of our related contractual liability as reported under note 5.3.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">No other events occurred between the balance sheet date and
the date on which these condensed consolidated interim financial statements were approved by the Audit and Finance Committee that would
require adjustment to these condensed consolidated interim financial statements or disclosure under this section.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0pt">10</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="font-size: 1pt; border-top: Black 4pt solid">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0">&#160;</p>

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