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January 2025 Boosting Survival Through Innovative Immune Modulation
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MaaT Pharma 2 Disclaimer This document has been prepared by MaaT Pharma (the "Company") and is for information and background purposes only. While the information contained herein has been prepared in good faith, neither the Company, nor its shareholders, directors, officers, agents, employees, or advisors give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the fairness, accuracy, reliability or completeness of the information in this document, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers, including financial information (all such information being referred to as “Information”), and liability therefor is expressly disclaimed. Accordingly, neither the Company nor any of its shareholders, directors, officers, agents, employees, affiliates, representatives or advisers take any responsibility for, or will accept any liability whether direct or indirect express or implied, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising from this document. The information and opinions contained in this document are provided as of the date of this document only and may be updated, supplemented, revised, verified or amended, and thus such information may be subject to significant changes. The Company is not under any obligation to update the information or opinions contained herein which are subject to change without prior notice. The information contained in this document has not been subject to independent verification and are qualified in their entirety by the business, financial and other information that the Company is required to publish in accordance with the rules, regulations and practices applicable to companies listed on the regulated market of Euronext in Paris, including in particular the risk factors and other information in the Company’s Document d’enregistrement (Registration Document) registered by the French Autorité des marches financiers (Financial Markets Authority) (the “AMF”) on October 1st, 2021 under no. I.21-0057 and its supplement on October 14, 2021 under no. I.21-0061 and in any other periodic report, which are available free of charge on the websites of the Company (https://www.maatpharma.com/) and the AMF (www.amf-france.org). 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Any prospective investors must make their own investigation and assessments and consult with their own advisers concerning any evaluation of the Company and its prospects, and this document, or any part of it, may not form the basis of or be relied on in connection with any investment decision. This document contains certain forward-looking statements. These statements are not guarantees of the Company's future performance. These forward-looking statements relate to the Company's future prospects, developments and marketing strategy and are based on analyses of earnings forecasts and estimates of amounts not yet determinable. Forward-looking statements are subject to a variety of risks and uncertainties as they relate to future events and are dependent on circumstances that may or may not materialize in the future. Forward- looking statements cannot, under any circumstance, be construed as a guarantee of the Company's future performance and the Company’s actual financial position, results and cash flow, as well as the trends in the sector in which the Company operates, may differ materially from those proposed or reflected in the forward-looking statements contained in this document. Even if the Company’s financial position, results, cash-flows and developments in the sector in which the Company operates were to conform to the forward-looking statements contained in this document, such results or developments cannot be construed as a reliable indication of the Company's future results or developments. The Company does not undertake any obligation to update or to confirm projections or estimates made by analysts or to make public any correction to any prospective information in order to reflect an event or circumstance that may occur after the date of this document. All persons accessing this document are deemed to agree to all the limitations and restrictions set out above. January 2025
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MaaT Pharma 3 Management Team January 2025 Sian Crouzet Chief of Staff Carole Schwintner, PhD Chief Technology Officer Eric Soyer Chief Financial Officer Gianfranco Pittari, MD, PhD Chief Medical Officer Hervé Affagard Co-Founder & CEO Jonathan Chriqui, PharmD Chief Business Officer
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Company Overview
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MaaT Pharma 5 MaaT013 in aGvHD: Primary Endpoint of Phase 3 Study Achieved Registration in Europe Spearheading Microbiome Therapies in Oncology January 2025 Now available: Phase 3 Data in aGvHD from the ARES study Multi-assets platform focused on oncology Company anticipates MAA submission in Europe, in mid-2025, earlier than initially planned Primary endpoint: unprecedented, GI-ORR* of 62% in patients having previously received steroids and ruxolitinib High response rate leading to prolonged survival, highlighting MaaT013’s potential to overcome the short-term mortality of third-line GI-aGvHD Funding opportunities Potential 750m€ yearly peak sales Hemato-Onco franchise for partnering: 250m€ for MaaT013 in GvHD and 500m€ for MaaT033 in allo-HSCT. Cash position of 27m€ as of September 30, 2024. Cash runway extends into Q2/2025 Exploring several options to strengthen financing for future developments, including non-dilutive and dilutive sources Full ecosystem donor-derived and co-culture platforms driving candidate development with 2 clinical and 1 preclinical assets gutPrint® AI, linked to co-culture platform, poised to deliver, potentially, clinically-ready candidates by 2026 Largest European cGMP production facilities for Microbiome Ecosystem Therapies TM
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MaaT Pharma Malard, F. et al. Pooled allogeneic faecal microbiota MaaT013 for steroid-resistant gastrointestinal acute graft-versus-host disease: a single-arm, multicentre phase 2 trial. eClinicalMedicine 62, 102111 (2023). Correcting Dysbiosis: a New Pillar in Oncology • Loss of microbial diversity • Increase in pathogens • Reduction of microbial metabolites • Associated with multiple conditions • Chemotherapy and antibiotics are a major trigger of dysbiosis • Damage of the gut ecosystem disrupts immune homeostasis and barrier integrity • Vulnerability to inferior clinical outcomes Dysbiosis and disease Microbiome alterations in Oncology Microbiotherapy Restores Gut Microbiota Diversity and Production of Functional Metabolites 6January 2025
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MaaT Pharma Oncology-Focused Platform Fueling a Deep Pipeline of Drug Candidates 7January 2025 Driving near-term value with the donor-derived MET-N platform Progressing next-generation co-cultured scalable MET-C platform Leading capabilities in full ecosystem microbiome drug production MaaT013 MaaT033 MaaT034 MaaT03X Capacity: ~11,000 treatable patients per year MET-N / MET-COriginal microbial ecosystem Master bank Working Bank Unlimited Co-Culture Scaling MET-C product Multistep co-culture cGMP proprietary process Pooled microbiota → Maximized richness → Standardized (450 OTU ± 3%) MaaT013 MaaT033 PROPRIETARY POOLING APPROACH Native Ecosystem Co-cultured Ecosystem In-house Production MET-N / MET-C A Premier Portfolio of Full Native and Co-cultured Microbiome Ecosystem TherapiesTM Produced Internally at the Largest European Production Facility Designed for Easy Scalability to Meet Demand
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MaaT Pharma A Strong Pipeline With Multiple Value Inflection Milestones and a Close-to-Market Asset EU MAA Submission Mid 2025 Upcoming milestone Results Q1.25 Safety Interim H1.25 Full data in Q1 2025 8January 2025 FPI in H1.25 Status Targeting FIH 2026 Fully recruited Program Indication Preclinical Phase 1 Phase 2 Phase 3 MaaT013 MaaT033 IST* - PICASSO PHOEBUS IASO EAP ongoing: 154 pts treated IST** - IMMUNOLIFE Market potential 1L : 10k patients2 2L : 5K patients2,3 2,3 11k patients2 MaaT034 PrClin ARES MAA Ongoing Primary endpoint met Ongoing Ongoing Primary endpoint met
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MaaT Pharma Resolution of aGvHD Improved survival in Allo-HSCT Enhanced response to ICI • Immune modulation • Mucus production and tight junction strengthening • Colonocyte survival and improved metabolic functions • Prevention of aGvHD severity • Curbing of pathogenic bacteria growth and invasion • Boosting anti-tumor immunosurveillance • Dendritic cell maturation to improve Ag presentation • T cell activation and accumulation in the tumor micro-environment • Enhanced cytotoxicity of CD8+ T cells Leveraging Microbiome Modulation in Oncology: Mechanisms for Enhanced Survival Outcomes in Multiple Settings Smith PM et al, Science 2013; Sun M et al, Nat Commun 2018; Gaudier E et al, AJPGLP 2004; Furusawa Y et al, Nature 2013; Arpaia N et al, Nature 2013; Mathewson ND, Nat Immunol 2016 Jenq RR et al, Biol Blood Marrow Transplant 2005; Taur Y, Blood J Am Soc Hematol 2014 M. Vetizou et al, Science 2015; Spencer et al, Science 2021; Mager et al., Science 2020 9January 2025 Control of inflammation and restoration of gut integrity Reduction of transplant-related complications Optimization of anti-tumor immunity Restoration of microbiota diversity and production of functional metabolites Dysbiosis
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MaaT013 in aGvHD
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MaaT Pharma 11 Understanding and Addressing Acute Graft-versus-Host Disease (aGvHD) Skin GvHD Liver GvHDGI GvHD In aGvHD, donor immune cells recognize the recipient’s tissues as foreign leading to an immune-mediated attack Common clinical manifestations typically involve the gastrointestinal tract, the skin and the liver Skin: Rash, itchingJaundice, liver dysfunction/failureSevere diarrhea, abdominal pain ~11,600 85% → A significant complication following allogeneic hematopoietic stem cell transplantation (Allo-HSCT) → May occur in 50% of patients undergoing Allo-HSCT, presence detected typically within the first 100 days post-transplant → Mortality is primarily linked to the involvement of the gastrointestinal tract January 2025 MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA
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MaaT Pharma aGvHD Refractory to Steroids and ruxolitinib (3rd line of treatment): A Substantial Unmet Medical Need Requiring Innovative Solutions 12 Treatment Paradigm Corticosteroids are the 1st line of treatment, but approximately 50% of patients do not achieve a sustained response ruxolitinib is approved as 2nd line of treatment for steroid-refractory aGvHD (FDA, 2019 & EMA, 2022) Lack of effective therapy in 3rd line No drug approved Off-label options have shown limited benefit, notably in OS improvement → GvHD is characterized by intestinal dysbiosis which is associated with higher mortality in hemato-oncology2 → In the Early Access Program (EAP), MaaT013 showed efficacy in aGvHD patients who failed 1 to 6 lines of systemic treatment3 30% of aGvHD patients eligible for subsequent or alternative treatment Around 3,000 per year EU/US Dismal outcome with a median survival of 28 days and 15% OS at 1 year1 January 2025 ODD EMA/FDA MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA
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MaaT Pharma 13 ARES: a Pivotal Phase 3 Trial Exploring MaaT013 in Third-Line aGvHD Following Steroid and ruxolitinib Failure → Refractory to 1L corticosteroids → Refractory or intolerant to 2L ruxolitinib → → → Milestones: Topline results announced January 8th 2025 I OS expected by end of 2025 I Regulatory submission expected mid-2025 Marketing authorization anticipated in H2 2026 Inclusion criteria Market potential: ~250 m€ No Competitor in 3L Oct. 23 DSMB main conclusions: →Good safety profile →ORR higher than pre-defined protocol 66 Patients with SR/RR -GI-aGvHD D1 Overall Survival Primary efficacy evaluation GI-aGvHD ORR (CR+VGPR+PR) D28 M6 M12 Screening (D-14 to D-1) Treatment Period D1, 5, 10 Primary follow-up Long-term follow-up EOT MaaT013 administration 4th dose if relapse after response January 2025 MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA
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MaaT Pharma 14 ARES patients: Baseline Characteristics MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA 91% are Grade III-IV | 100% are ruxolitinib refactory Patients characteristics at baseline All patients receiving MaaT013 (n=66) Median age, years (range) 55.5 (24; 76) Gender n (%) Male: 35 (53%) Female: 31 (47%) Steroid status n (%) Steroid-refractory: 57 (86%) Steroid-dependent: 9 (14%) Ruxolitinib status n (%) ruxolitinib refractory: 66 (100%) ruxolitinib intolerant: 0 aGvHD grading (MAGIC*) Grade I: 0 Grade II: 6 (9%) Grade III: 38 (58%) Grade IV: 22 (33%) Patients with severe aGvHD *MAGIC : Mount Sinai Acute GVHD International Consortium January 2025
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MaaT Pharma 15 ARES: Strong Response to MaaT013 in aGvHD following Steroid and ruxolitinib Failure MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA • 62% GI-ORR with high CR and VGPR rates • 64% ORR desmonstrating a global systemic response 0 20 40 60 80D28 Response rate (%) CR VGPR PR GI-ORR ORR 62% 64% 38% 36% 20% 18% 9%5% 95% CI (49%, 74%) 95% CI (51%, 75%) Topline Results 36% 18%20% PR VGPR CR January 2025
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MaaT Pharma 16 ARES: Unprecedented Probability of Survival Compared to Historical Data with Best Available Therapy (BA T) MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA Time (days) Probability of Survival (%) MaaT013 demonstrates response-driven prolonged survival, far exceeding expected outcomes in third- line aGvHD, with 54% probability of survival at 1 year compared to 15% survival in historical control ARES patients Historic 3L (Abedin et al. 2021) 54% 15% 59% 20% Overall Survival, ARES vs BAT Probability of Survival by D28 Response Probability of Survival (%) Time (days) D28 GI-responders All patients D28 GI-non responders January 2025
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MaaT Pharma Early Access Program: meeting critical needs in GvHD today and shaping the future 1 2 3 4 Supply chain & Manufacturing Increased Adoption • MaaT013 shipped to 10 countries • 2 distribution centers: Horsham (USA) & Bordeaux (France) • Unmet medical need: no approved or efficacious treatment in 3L and beyond • Patients with dismal prognosis Clinical Value Market Access Preparation • Informed health economics modeling • Preparation of narrative for payers • Precise understanding of Cost of Goods • Initiate early revenues (FR/social security): Q3/2024= 2.3 m€ (YTD) Number of patients • Generate real world evidence • Stakeholder engagement & advocacy support (10 countries and NCAs or ECs) • First patient treated in the US: Dec. 2024 Supplying The Increasing International Demand In Different Indications • 95% in GvHD (any line), including 7 % for 2L aGvHD patients AND 79% for 3L aGvHD patients and beyond • 5% outside the GvHD field suggesting a larger adoption 154 cumulative GvHD patients treated as of July 2024 • Safety = Favorable B/R ratio • Efficacy (All lines) = GI-ORR at D28: 51%; 1Y OS: 47% • Efficacy (3L) = GI-ORR at D28: 59%; 1Y OS: 49% confirming the ARES Phase 3 data (GI-ORR D28: 62%, 1y OS: 54%) -> Product positioning in 3L Patients First 0 20 40 60 80 100 120 2019 2020 2021 2022 2023 2024 +75 MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA 17January 2025 Communicated Phase 3 topline results (62%) in Refractory aGvHD confirm EAP signals (59%)
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MaaT Pharma 18 Clear Regulatory Path for MaaT013 in Third Line Refractory aGvHD in Eligibility of MaaT013 for the centralized procedure confirmed by EMA (Medicinal product status) and rapporteurs and co-rapporteurs appointed Target filing of the EMA Marketing Authorization Application for MaaT013 mid-2025 (6mths in advance vs previous plan) Submission based on validated primary endpoint (28 days GI-ORR) complemented with data on 1y-OS Target H2 2026 for European marketing authorization, commence commercialization end of 2026 Open IND: Ongoing dialogue with the FDA to expedite MaaT013 clinical development plan Dedicated and optimized study for the US leveraging ARES Phase 3 results Continue to support the ongoing Expanded Access Program to allow US patients early access to MaaT013 Targeting potential launch of U.S. Phase 3 study in 2025, subject to appropriate funding MaaT013 • aGvHD → Salvage → Quick actionODD EMA/FDA January 2025 In Europe In the U.S.
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A Multi-Asset Platform Focused on Oncology
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MaaT Pharma Based on expected duration of recruitment, OS primary endpoint expected in 2027 Ongoing Phase 2b PHOEBUS Safety Interim analysis on 60 patients in Q1 2025 ~ 11k patients per year 20 Phoebus: MaaT033 Phase 2b RCT Potential Adjunctive Treatment for Patients Receiving Allo-HSCT January 2025 MaaT033 • Allo-HSCT → Ambulatory → Adjunctive → Multicenter Randomized Control Trial → 56 sites / 6 countries → Primary endpoint 1y-OS → Results : Q4-2027 → Dec 24: 80 patients (LPI target date: mid-26) Pre Allo-HSCT treatment phase 387 patients Follow-Up Post Allo-HSCT treatment phase Allo-HSCT Overall Survival 15 – 21 days Neutrophil recovery Visit 1 D-21 Visit 2 D-7 D-0 Visit 3 D+21 Visit 6 M+3 Visit 10 M+12 MaaT033 Placebo MaaT033 Placebo 3 Mths1 week No treatment Largest Microbiome RCT trial in oncology
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MaaT Pharma 21 Unlocking the Potential of Checkpoint Inhibitors: How Full-Ecosystem Gut Microbiome Overcomes Primary Resistance January 2025 21 Urgent need for new ICI combination therapies to boost response rates and survival Primary Resistance Rate to ICIs Lung Cancer (NSCLC) 35 - 40 % Skin Cancer (Melanoma) Up to 65 % Immune Checkpoint Inhibitors (ICI) significantly improve outcomes in solid tumor patients Leveraging full ecosystem microbiome could be a game-changer in immuno-oncology 2021: FMT from ICI-responders could overcome resistance to ICI in non-responders with metastatic melanoma Non-responders -> Responders (Davar et al, 2021) 6/15 Non-responders -> Responders (Baruch et al, 2021) 3/10 2023: Microbiotherapy from healthy donors boosts response to aPD1+aCTLA4 in ICI-naive metastatic melanoma patients 15/20 ICI-naïve Responders (ORR=75 %, Routy,. 2024) …/35 PICASSO studying MaaT013: 1st multicenter RCT 70 pts rand 1:1 MaaT013 • IO - Melanoma → ICI → Combo
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MaaT Pharma Phase 2a PICASSO trial, fully recruited Investigator Sponsored Trial (Assistance Publique - Hôpitaux de Paris) in collaboration with Institut Gustave Roussy → Data expected Q1.25 (positive DSMBs) 22 MaaT013 Evaluated in Phase 2 Randomized, Multicenter Clinical Trial in Melanoma Key study endpoints after 23 weeks of treatment: MaaT013 safety profile and best-overall response rate vs placebo as add-on treatment to Ipilimumab + Nivolumab Selection & Inclusion Randomization70 patients Final Follow-up Final full blind visit Visit 1 D0 Visit W51 Blind Period Visit W27 Open-Label Period Safety, ORR, PFS • Starting unblinding patients with progression • Open-label administration of MaaT013 for placebo-treated patients with progression OS, PFSRandomization MaaT013 + Ipilimumab & Nivolumab Placebo + Ipilimumab & Nivolumab PICASSO RCT design January 2025 MaaT013 • IO - Melanoma → ICI → Combo
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MaaT Pharma 23 MaaT033: Targeting Amyotrophic Lateral Sclerosis Progression Rationale for Exploratory Utilization of MaaT033 in ALS → Microbiota-Gut-Brain axis is a multifactorial MoA which has the potential to become the new standard to treat neurodegenerative diseases, including ALS → Strong support from medical community & patients → A capital efficient way of testing neurodegenerative field in the most severe indication with high medical need with potential for expansion Amyotrophic Lateral Sclerosis (ALS) → Could affect up to 60,000 patients in US & EU by 20401 → Paralysis and death 3 to 5 years after diagnostic 2 → Currently no curative treatment and few symptomatic treatments Study Screening V1 Regimen Treatment period V7 M3 V6 M2V2 Follow-up period Bowel preparatio n period V3 M0 Stool samplingClinical examination Blood sampling Throughout the trial January 2025 MaaT033 • ALS → Ambulatory → Pilot, open-label, Phase 1b study in France, N=15 (NCT05889572) → Key study endpoints safety and tolerability of MaaT033 (Primary) | gut microbiota composition evolution | marker showing potential impact on disease progression → Primary endpoint met; full data readout expected in Q1 2025 • MaaT033 found to be safe and well tolerated • DSMB supports proceeding to Phase 2 • Successful engraftment characterized by the increasing MaaT033 species overtime (Data published in a poster at MNDA, 35th International symposium on ALS/MND) MaaT033 specific Study visits Species (%) 40 20 V4 D10 V5 M1
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MaaT Pharma Indication-specific drug candidatesDonor-independent ecosystem candidate HIT Products LEAD Products (MaaT03X) → Activity in in vitro models Candidate Products (MaaT034) → Activity in 2 different mouse models → Product characterization → Safety and Dose assessment 24 In silico In vitro In vivo Clinic Upcoming Milestones for MaaT034 → Manufacturing of Clinical batches expected in H2.2025 → FIH expected in 2026 MET-C Product Generation is Driven by MaaTPharma’s Proprietary Predictive AI, Eubiotic Score and in vitro and in vivo Validation Processes January 2025 MaaT034 MaaT034 MET-C • ICI and more → Synthetic → Tailored
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Hemato- oncology Franchise Driving Value
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MaaT Pharma Addressable market in 3L Estimated Annual Revenues Potential peak sales of €250m+ worldwide with potential upside from 2L positioning (+1,400 patients) 26 MaaT013 Addressable Market and Revenues 65% Market penetration ~3,000 patients 3L GI-SR-RR/I-aGvHD 3L GI-SR-RR/I-aGvHD (~2,000 patients) MaaT013 • aGvHD → Salvage → Quick action Total Worldwide ~€380m+ Total Worldwide ~€250m+ January 2025 ~€160m ~€220m ~€100m ~€150m • Ruxolitinib : ~70% MS in the US within 2 years of approval • Addressable population concentrated in transplant centers
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MaaT Pharma Unique Franchise Opportunity A very meaningful market opportunity 27 Realizing value through partnership: Aligning innovation with unmet medical needs in hematology January 2025 A Total market of ~€750 m+ Unique immunosuppressant-sparing, microbiome-based approach Well defined target population for both products, Prescribers focused on limited number of centers, many of them already using MaaT013 Proven effi cacy and safety with potential to expand to other dysbiosis-linked hematological malignancies (e.g., CAR-T) Multiple value catalysts over the next few months 1PYS EU5, US; 2 Per year Significant potential to leverage partner’s expertise in hematology, rare diseases, or hospital commercial operations.
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End-to-End In-house cGMP Manufacturing Capabilities
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MaaT Pharma A dedicated 1,600m2 site (+17,000 sq ft), expandable, to support demands until 2034 for MET-N clinical and future commercial production, R&D, and clinical batches of MET- C products (MaaT034 & MaaT3X family) ~11,000 treatable patients per year 9,000 MaaT013 1,300,000 MaaT033 Up to 300,000MaaT03X Europe’s Largest Specialized cGMP Manufacturing Facility for Microbiome Ecosystem Therapies Leading microbiome therapies fully integrated manufacturing and development platform: streamlined product development, scaleup and GMP process. 01 Currently used at 10% capacity Scalable up to commercial capacity 04 29 Option to expand manufacturing facilities to double capabilities. 02 Partnership with November 2024 All MET → cGMP → Scalable 03 Campaign #1 Campaign #2 Campaign #3 Consistent yield (<10% variation) Manufacturing yield based on FDA/EMA authorized processes
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Newsflow & Funding Opportunities
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MaaT Pharma 31 January 2025 MaaT013 GvHD | MA application EMA Mid 25 MaaT013 GvHD | Ares Ph3 28 days GI-ORR results Jan 25 MaaT033 HSCT | Phoebus Ph2b DSMB Q1 25 MaaT013 GvHD | MA approval EMA H2 26 MaaT033 HSCT | Phoebus Ph2b OS results H2 27 MaaT034 IO | 1st clinical batch produced H2 25 MaaT013 GvHD | Apollo Ph3 FPI Q4 25 MaaT013 GvHD | Apollo Ph3 results H2 27 MaaT013 GvHD | Ares Ph3 OS results H2 25 MaaT013 Melanoma | IST Picasso Ph2a re s ult s Q1 25 MaaT033 NSCLC | IST Immunolife Ph2a FPI Mid 25 MaaT033 NSCLC | IST Immunolife Ph2a interim analysis reviewed by IDMC Q4 26 MaaT034 IO | FIH Solid tumor 26 Legend : Key milestone ; Achieved US market ; EU market ; Maat013 (pooled enema) ; Maat033 (pooled capsule) ; Maat034 (co-cultivated capsule) MaaT033 HSCT | Phoebus Ph2b LP IQ2 26 MaaT033 HSCT | Phoebus Ph2b DSMB Q3 25 Immuno - Oncology Hemato - Oncology Several Major Near-Term Value Inflection Milestones 2025 2026 2027
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MaaT Pharma 32 Opportunities to fund the Company's development January 2025 Cash position of €27m as of September 30,2024 Current cash runway into Q2 2025 Exploring several opportunities to fund the Company's developments over the next coming years, including dilutive and non-dilutive options
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Thank you