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GENERATIVE AI ABSCI CORPORATION 2025 ALL RIGHTS RESERVED DRUGCREATIONJEFFERIES HEALTHCARE CONFERENCE 2025
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2COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. DisclaimersForward-Looking Statements Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Such statements include, but are not limited to, statements regarding any or all of the following: (i)Absci’s preclinical studies, clinical trials, as well as partnered and internally developed programs, including, without limitation, manufacturing capabilities, status of such studies and trials and expectations regarding data, safety and efficacy generally;(ii) data included in the above-described oral presentation, as well as the ability to use data from ongoing and planned clinical trials for the design and initiation of further clinical trials; (iii)Absci’sstrategy, goals, anticipated financial performance and the sufficiency of its cash resources; (iv) regulatory submissions and authorizations, including timelines for and expectations regarding any anticipated regulatory agency decisions; (v) the expected benefits of its collaborations with partners; and (vi) the therapeutic value, development, and commercial potential of antibody therapies, as well as other technologies. Risks that contribute to the uncertain nature of the forward-looking statements include, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” inAbsci Corporation’smost recent annual report on Form 10-K and in any other subsequent filings made byAbsci Corporation with the U.S. Securities and Exchange Commission. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. We disclaim any obligation or undertaking to update or revise any forward-looking statements contained in this press release, other than to the extent required by law. Market and Statistical InformationThis presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other industry data. These data involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the data generated by independent parties and cannot guarantee their accuracy or completeness. Trademark usage This presentation/document/webpage contains references to our trademarks and service marks and to those belonging to third parties. Absci®, ®, SoluPro®, BionicSoluPro®and SoluPure® are Absci registered trademarks with the U.S. Patent and Trademark Office. We also use various other trademarks, service marks and trade names in our business, including the Absci AI logo mark ( ), the Unlimit with us mark ( ), Denovium, Integrated Drug Creation, HiPrBind,and IgDesign. All other trademarks, service marks or trade names referred to in this presentation/document/webpage are the property of their respective owners. Solely for convenience, the trademarks and trade names in this presentation/document/webpage may be referred to with or without the trademark symbols, but references which omit the symbols should not be construed as any indicator that their respective owners will not assert, to the fullest extent under applicable law, their rights thereto.
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3NON-CONFIDENTIALCOPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Generative AI Drug Creation™ INNOVATIVE PIPELINE WITHNEAR-TERM CATALYSTS A PROVEN AI × BIO PLATFORM LEADING AI MODELS•De novo design unlocking previously undruggable biology•Validated across multiple internal + partnered programs PURPOSE BUILT TEAM•10+ approved drugs by our scientists •AI talent from OpenAI, Google, Tesla, NVIDIAINTEGRATED DATA FLYWHEEL•77k ft² automated labs•Hundreds of millions of sequence–function datapoints since 2020 ABS-201 IN ANDROGENETIC ALOPECIA•Accelerated Ph1/2a trial on track to initiate December 2025, with interim efficacy readout 2H2026ABS-201 IN ENDOMETRIOSIS•Indication expansion into endometriosis with anticipated Ph2 initiation in 4Q2026 with PoC readout as early as 2H2027
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5COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Leading AI models to create novel & differentiated therapeutics Purpose-built to create novel & differentiated antibody-based therapeuticsADDRESS COMPLEX AND PREVIOUSLY “HARD TO DRUG” TARGETSBind specific extracellular domainsTarget distinct conformationsAddress difficult target classes e.g. GPCRs, ion channels INTRODUCE PRECISE CONTROL OVER ANTIBODY DESIGN TO ENHANCE TPPsDesign conditionally-active biologicsEnhance potency & MOAEngineer selectivity, minimizing off-target toxicityPromote agonism or antagonism
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6COPYRIGHT© 2024 ABSCI CORPORATION.ALL RIGHTS RESERVED. ~140Employees 77,000+Square Feet $150M+ Trademarks, service marks or trade names referred to herein are the intellectual property of their respective owners.Use of this IP does not imply affiliation, endorsement or sponsorship of any kind ABSCI AT A GLANCE “Multi-lingual” AI + Drug Discovery expertise AI team from leading institutions and tech companies: Biologics drug discovery expertise from : Absci’s Talent and Infrastructure for Better Biologics Faster $150M+ cash, cash equivalents, and marketable securities as of September 30, 2025; supporting runway into 1H28 State-of-the-art drug creation and wet lab space in Vancouver WA, Absci AI Research (AAIR) lab in NYC, and the Innovation Centre in Zug Switzerland
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7COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. AI Drug Creation™ Data & compute 25+ PARTNERED PROGRAMS TO DATE SCALING COMPUTE 5 NAMED INTERNAL PROGRAMSADDITIONAL PROGRAMS IN EARLY DEVELOPMENT IMPROVING MODELSINCREASING EFFICIENCIESTrademarks, service marks or trade names referred to herein are the intellectual property of their respective owners.Use of this IP does not imply affiliation, endorsement or sponsorship of any kind Track Record of Industry-Leading PartnershipsPARTNERSHIPS
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8COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Advancing and expanding our pipeline of novel & differentiated assets designed using AIAI PIPELINE IBD Androgenetic Alopecia Immuno-oncology Early Discovery Programs Target IDLead IDCandidate IDIND-EnablingPhase 1 Oncology IND*Therapeutic area DCLead *or equivalent ex-US filing EndometriosisABS- 101 ABS- 201 ABS- 301 ABS- 501 TL1A PRLR PRLR Undisclosed Target HER2 Ph 1/2a trial initiating Dec 2025Ph 2 trial anticipated to initiate Q4 2026
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9COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. ABS-201 has the potential to unlock a wholly new category of therapy in hair “re-growth” Significant unmet clinical need for androgenetic alopeciaLarge market: approximately 80 million patients in U.S.; highly motivated patient population SIGNIFICANT CLINICAL AND COMMERCIAL UNMET NEED Objective end-pointsAbility to combine Ph1 and Ph2 for potential early Proof of Concept Low competition, potentially first to U.S. market EFFICIENT DEVELOPMENT PATH Strong target validation (efficacy & safety) for treatment of androgenetic alopeciaMode of action de-risked by HMI-115 Ph2 study resultsSupportive pharmacological profile of ABS-201 STRONG SCIENTIFIC RATIONALE COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED.
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10COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. PRLR inhibition as a safe innovative alternative to current treatment optionsABS-201 | AGA Proposed direct impact of ABS-201 on Hair Cycle StagesABS-201 has the potential to: Catagen↑↑ Apoptosis & Regression2-4 weeks TelogenResting PhaseHair falls out3-5 months PRLR AnagenActive Growth& New Hair2-6 years ABS-201 Anagen↑↑ Active Growth& New Hair2-6 yearsTelogenResting PhaseHair falls out3-5 months PRLR CatagenApoptosis & Regression2-4 weeks Shift the balance in hair cycle stage towards anagen phase1,2 with:•active and new hair growth•prevention of telogen effluvium Block cessation of pigmentation, which may lead to the restoration of hair pigmentation2 Promote a long-lasting effect after treatment cessation 1 doi: 10.1016/S0002-9440(10)64295-22 doi: 10.2353/ajpath.2006.050468
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11COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Treatment with an anti-PRLRmAb promotes and sustains long-term hair growth in NHPTOP HEAD VIEW OF STUMPTAILED MACAQUE’S SHOWINGPHENOTYPIC CHANGE OVER TIME 40mg/kg s.c. Q2W for 28 weeksDisclosure from competitor Hair density & thickness improved with short treatment duration in primate model of androgenetic alopecia Hair growth remains several years post cessation Hair regrowth observed for both male and female animals MaleFemale Baseline12 weeks28 weeks6 months2 years4 yearsPost-treatmentTreatment Translational Model validates PRLR TargetABS-201 | AGA
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12COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. ABS-201 shows superior efficacy vs 5% topical minoxidil in 21d hair regrowth model Administration: mAbs i.p. biweekly; Minoxidil topical daily Untreated (n=11) Isotype (n=11) Minoxidil 5% (n=11) ABS-201 30mg/kg (n=11) ABS-201 60mg/kg (n=10) ABS-201 vs minoxidil/untreated/isotype**p<0.05; ***p<0.0001- 2way ANOVA Error bars= SEM ****** *** * ABS-201 | AGA
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13COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. PRLR inhibition anticipated to be safe & well tolerated as supported by human geneticsABS-201 | AGA I.II.III. NV = NonvariantND = Not determined I. II. III. I. II. III.IV. Kobayashi, 2018 NEJM Moriwaki, 2021 JCEM Newey & Phil , 2013 NEJM Compound heterozygous PRLR loss-of-function Dominant negative PRL loss-of-function Dominant negative PRLR loss-of-function Reduced/loss of PRL or PRLR signaling:Postpartum agalactia Otherwise in good health:No apparent impact on fertilityNo report on erectile dysfunction in male Normal breast development and menses in females Normal serum electrolytes and hormone levels (except elevated PRL in PRLR mutation carrier)No reported abnormalities of other hypothalamic-pituitary axes
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14COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Accelerated development with Ph1/2a trial initiation expected in December 2025 AI DESIGN CMC & PRECLINICAL 2H 2026INTERIM POCREADOUT EXPECTED DEC 2025 FIHPHASE 1/2a TRIAL INITIATION •Up to 227 heathy volunteers with and without AGA•4-6 SAD IV dose groups in HVs•3-4 subcutaneous MAD groups in healthy AGA volunteers•MAD powered to demonstrate human POC ABS-201 | AGA •Safety & Tolerability•Hair regrowth efficacy-Target Area Hair Count-Target Area Hair Width-Target Area Hair Darkness
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15COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Expanded development of ABS-201 in Endometriosis COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. ADDRESSES LONG-STANDING UNMET MEDICAL NEED •Current therapies are palliative with poor tolerability•No disease-modifying options available •Affects ~190M women globally; only ~10% receive treatment today•Disease-modifying therapy has the potential to increase diagnosis and treatment rates•Peak sales potential >$4.5B with adjacent indication upside LARGE, UNTAPPED MARKET OFFERS SIGNIFICANT UPSIDE POTENTIAL •PRLR biology well supported by internal and external data•Positive read-out from HMI-115 validates mechanism•Phase 2 PoC study could start as early as Q4 2026 with interim efficacy readout anticipated 2H 2027 STRONG BIOLOGICAL AND CLINICAL RATIONALE
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16COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. PRLR antagonism is a novel and differentiated MoA in EndometriosisABS-201 | ENDOMETRIOSIS PRL and PRLR play a dual role in endometrial lesion development and pain response Sources: PMID 37169264 •Endometriotic lesions produce prolactin under estrogen/progesterone control.•Excess prolactin promotes lesion growth and sensitizes pain-sensing nerves, contributing to chronic pelvic and menstrual pain.•Prolactin signaling is independent of sex-hormone pathways, offering a differentiated, non-hormonal treatment modality vs current therapies.
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17COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. PRLR antagonism reduces pain and lesion formation through a female mechanismProlactin regulates pain responses in female mice via nociceptor-specific mechanismPRLR antagonism decreases lesion formation, indicating potential disease modification beyond symptom control ABS-201 | ENDOMETRIOSIS Sources: Patil et al. iScience 2019Otto et al. Pharmacol Res Perspect. 2022 Pain incision (Inc) model for heat sensitivity •Heat hypersensitivity is significant reversed via PRLR-inhibtion (ΔPRL)•Differentiated, non-hormonal pathway with disease-modifying potential Prolactin Antagonist Antibody Prolactin Antagonist Antibody Paw Withdrawal Latency (secs)
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18COPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. ABS-201 relieves pain and inflammation in a homologous transplant mouse model of endometriosis ABS-201 | ENDOMETRIOSIS ABS-201 and anti-GnRH treatment increase distance traveled relative to placebo over time as surrogate for pain reduction ! "! #!! #"! $!! %%C$ %'E)*+,-.LM1+2+345S !!!! !!!! !!!! T89:;M9E; ! "! #!! #"! $!! %C'E F*+,-./MN234.5.ST89 !!!! !!!! !!!! %:;<=3;+= Pain-readout: Statistical analysis using one-way ANOVA. N=12/arm. * p= 0.03, ** p= 0.006. Bars ± SD.Biomarker:Statistical analysis using one-way ANOVA - Graphs represent pooled observations from two different plates from the same experiment.**** = P <0.0001 Bars ± SD. ABS-201 and anti-GnRH treatment significantly reduces the inflammatory cytokines in the peritoneal fluid —which have been shown to be elevated in endometriosis patients#. 2 72 322 372 422 472 522 572 '"Fkuvcpeg"vtcxgnngf"cv"Yggm"9 *eqorctgf"vq"dcugnkpg+ Vtgcvogpv '"Fkuvcpeg !"#AB&B'()BG+I-./0I-G !"#AB&B'1G2BG+I-./0I-G 34R&S7A #-82
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19COPYRIGHT© 2024 ABSCI CORPORATION.ALL RIGHTS RESERVED. ABS-201 offers a novel treatment option for Endometriosis patients•Non–sex-steroid hormonal MOA •Potential for improved AE profile, longer duration of treatment over GnRH therapies •Potential for Best-in-class anti-PRLR given enhanced developability and expected half-life•Potential for dual action on pain pathway and lesion proliferation Potential to generate >$4.5B at peak sales Potentialfor disease-modification therapy toincrease diagnosis and thereby expand the market ABS-201 offers a differentiated profile with potential for blockbuster peak salesABS-201 | ENDOMETRIOSIS Treated EM patients: 1.4 - 2.4M 1L ContraceptionNSAIDsProgestins 2LGnRH anti/agonistsABS-201GnRH + add-back ABS-201 Total Addressable EM Pts: 7.8 - 9M 3LAromatase Inhibitors Laparoscopy +/- Hyster.ABS-201 Current Treatment Paradigm (US)
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20NON-CONFIDENTIALCOPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED. Leading AI platform driving numerous near-term value inflection pointsABS-101Phase 1 Interim Data reported Advancing partnering and out-licensing opportunitiesPARTNERSHIPSAnticipate signing one or more partnerships, including with a Large Pharma in 2025 or 2026ABS-201 in AGAAccelerated Ph1/2a Study Initiation December 2025Interim PoC Readout – anticipated 2H 2026ABS-201 in ENDOIndication expansion into Endometriosis Ph2 POC anticipated to initiate 4Q2026 with PoC readout as early as 2H2027
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Better biologics for patients, faster 21NON-CONFIDENTIALCOPYRIGHT© 2025 ABSCI CORPORATION.ALL RIGHTS RESERVED.