Currently, Flexion has three sustained-release drug candidates in development for the treatment of osteoarthritis (OA) by intra-articular injection. Osteoarthritis is a disease of epidemic and growing proportions, affecting more than 27 million adults in the US alone.¹ Yet, today's standard treatment options have limitations in achieving optimal therapeutic outcomes for patients.

Flexion's approach leverages novel pharmacology with unique mechanisms of action in inflammatory and analgesic pathways, targeted to specific receptors and designed to provide unique therapeutic benefits. In order to maximize the benefit in OA treatment, Flexion's platform combines:

• novel OA compounds that act directly at the site of inflammation, with the potential to provide improved and more continual pain relief, while minimizing systemic exposure and associated side effects
• sustained-release formulation for durable therapeutic effect, with consistent pain relief throughout the treatment period

Phase 2 studies of Flexion compounds are underway in OA with defining clinical data expected in the near future. With a critical mass of high quality drug candidates, Flexion is advancing its product portfolio to result in first-in-class and best-in-class drugs, providing important new options for physicians and patients.