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2026 J.P. MORGAN HEALTHCARE CONFERENCE GENERATIVE AI DRUGCREATION
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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. 1MARKET 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. 2TRADEMARK USAGEThis 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 3 COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 2 GENERATIVE AI DRUG CREATION
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Industrializing Drug Discovery INCREASING ‘SHOTS-ON GOAL’ WITH FASTER AND CAPITAL EFFICIENT DISCOVERY $10-15mil (Absci) $50-100mil (Large Pharma) 24 Months (Absci) 5-6 years (Large Pharma)CAPITAL INVESTMENTDISCOVERY TIMELINE DELIVERING 3 CLINICAL-STAGE PROGRAMS TO DATE 1 2 3 ABS-201 FOR ANDROGENETIC ALOPECIA ABS-201 FOR ENDOMETRIOSIS ABS-101 FOR IBD Category re-defining opportunity for AGA in Ph1/2a trials Disease modifying opportunity for Endometriosis in Ph1 trials Demonstrated improved half-life and tissue penetration vs 1st gen TL1a molecules and ready for partnering COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 3 FROM CODE TO CLINIC INDUSTRIALIZED AI x WET-LAB ENGINE 6-week Lab in the loop cycles DATA TO TRAIN WET LAB TO VALIDATEAI TO CREATE
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RAISING THE BAR ON DE NOVO DESIGN Absci is the first validated platform to de novo design full length antibodies against ‘zero-prior’ epitopes with atomic accuracy COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 4 SCAN QR CODE TO DOWNLOAD THE MANUSCRIPT FROM CODE TO CLINIC
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UNMET MEDICAL NEED / PATIENT VALUE Strategy to leverage our de novo design platform on category creation opportunities that: STEP FUNCTION LEAP IN PATIENT BENEFIT oAddresses large unmet medical need with significant commercial opportunity oProvides step-function improvement to standard of careoTackles ‘first-in-class’ or ‘disease modifying’ biology INCREMENTAL BENEFITS COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 5 FROM CODE TO CLINIC
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ABS-201 has the potential to unlock a wholly new category of therapy inhair “re-growth”Significant clinical and commercial unmet need in androgenetic alopecia1.Strong scientific rationale, with validated target, de-risked Mode of Action, and pharmacology2.3.COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 6 ABS-201 Straightforward development path with objective endpoints
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7 ABS-201 | AGA PRLR inhibition for androgenetic alopecia is an innovative alternative to current treatment optionsPROPOSED DIRECT IMPACT OF ABS-201 ON HAIR CYCLE STAGES TelogenResting PhaseHair falls out Catagen↑↑ Apoptosis & Regression2-4 weeks AnagenActive Growth+ New Hair »»»PRLR ABS-201»» Anagen↑↑ Active Growth& New Hair2-6 years Catagen Apoptosis +Regression Telogen Resting PhaseHair falls out »»»PRLR oShift the balance in hair cycle stage towards anagen phase1,2 with:•Active and new hair growth•Prevention of telogen effluviumoPromote a long-lasting effect after treatment cessationoBlock cessation of pigmentation, which may lead to the restoration of hair pigmentation2 ABS-201 HAS THE POTENTIAL TO: COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED
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8 ABS 201 | AGA Terminal hair count ”Thick Hairs” in prior bald areas oHair regrowth observed for both male and female animals (>100 hairs/cm2 increase in bald area at week 28 of treatment*) # Thick Hairs Time (w) 200 100 0 250 150 50 300 4812162024 ASSESSMENT AREA = R1 TREATMENTPOST-TREATMENT12 WEEKSBASELINE28 WEEKS6 MONTHS2 YEARS4 YEARS FEMALEMALE Top head view of Stumptailed Macaque’s showing phenotypic change over time oHair density & thickness improved with short treatment duration in primate model of androgenetic alopeciaoHair growth remains and improves several years post cessation 40mg/kg s.c. Q2W for 28 weeks Study commissioned by Absci CIO Andreas Busch while at Bayer. Disclosure from competitor COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED*WO 2019/011719 A1
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COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 9 ABS-201 | AGA ABS-201 in human ex vivo culture study supports MOA in human scalp follicles ABS-201 significantly prolongs anagen/inhibits catagen and stimulates hair matrix proliferation AnagenEarly CatagenMid CatagenlgG CtrlABS-201lgG +PRLABS-201 +PRL 80 40 0 100 60 20 Frontotemporal Hairline RegionScalp Punch Scalp Skin oFrontotemporal male scalp skin is the most androgenetic alopecia affected skin regionoOrgan culture is the most relevant human preclinical hair research tool ex vivo MODEL SYSTEM: Microscopic hair cycle staging % of HFs in each haircycle stage
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COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 10 ABS-201 | AGA Additional ABS-201 ex vivo study found:oProlonging anagen phase and blocking catagen, thereby inhibiting telogen effluviumoProtecting and promoting hair follicle stem cells and and restoring CD34+ progenitor cellsoStimulating key hair growth factors (IGF1, FGF7)oDecreasing catagen driver TGFβ-2oIncreasing hair shaft and hair shaft keratin productionIGF-1/ FGF7 PRLRABS-201 CD34+ cellProliferative hair matrix keratinocyteProlactin Stem Cell Protection & Maintenance (↑K15+ Stem Cells) ↑ FGF7 and IGF1 Expression Proliferation of Hair Matrix Keratinocytes
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Phase 1/2a trial designed to provide readouts on safety, tolerability, and PoC in AGADesign Elements:oDouble-Blind, Placebo-controlled, FIH oMulti-site study in AustraliaoDose range ensures predicted >90% ROPopulation:oUp to 227 male & female healthy participants oSAD; n= 32 healthy volunteersoMAD; n= 147 AGA subjects (Norwood Scale IIIv-V)oOptional AGA cohorts in SAD/MAD; n= 48o3:1 randomizationEndpoints:oPrimary: Safety & TolerabilityoSecondary:•PK/PD•Efficacy readouts include target area hair count, width, and darkness (pigmentation) COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 11 ABS-201 | AGA Single Ascending DoseCohort 1150mg IV n=8Cohort 2450mg IVn=8Cohort 3900mg IVn=8Cohort 41800mg IVn=8 Cohort 1300mg SC n=49Cohort 2600mg SCn=49Cohort 31200mg SC n=49 Multiple Ascending Dose (26 weeks) oFirst cohort fully enrolled and dosed - Enrollment of remaining cohorts ongoingoDec 2025: Initiated o1H 2026: PK and interim safety expected oMAD design enabling PoC for AGAo2Q 2026: Expected initiationo2H 2026: Expected 13-week interim PoC readoutoEarly 2027: Expected 26-week topline PoC readout
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COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 12 ABS-201 | AGA ABS-201 TPP aims to offer a new treatment category in AGA based on efficacy and convenience 01020304050607080Efficacy (terminal hairs/cm2)Topical Minoxidil Oral MinoxidilFinasteridePRP Transplant + oral/topical Potential ABS-201 TPP * Based on 2-3 injections during first 6 months for >2 years of hair growthEfficacy at 24w for Vertex terminal hair count in male subjects: Oral Minoxidil (5mg/day): Panchaprateep 2020 (10.1007/s13555-020-00448-x) and Penha 2024 (doi:10.1001/jamadermatol.2024.0284); PRP: Dervishi2019 (10.1111/jocd.13113); Finasteride and Topical Minoxidil: : Gupta 2022 (doi:10.1001/jamadermatol.2021.5743 ), Transplant: based on KOL interviews. Convenience and ComfortBetterWorse
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Consumer Research Validates Market Potential of ABS-201Significant Unmet Need:Driven by psycho-social impacts (loss of confidence, self-esteem) from AGAStrong Commercial Demand:Nearly all men and roughly 90% of women are inclined to ask their doctors about ABS-201 High Value Proposition:Significant share of respondents willing to pay a premiumfor the ABS-201 TPPDisruptive Potential:Over 1/3 of respondents would select ABS-201 before their current treatment, suggesting ABS-201 can effectively compete as first-line therapy 610 Participants:306 Men | 304 Women COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 13 ABS-201 | AGA *ALL PARTICIPANTS EXPERIENCING HAIR LOSS REPORT NEGATIVE PSYCHOLOGICAL IMPACT80%MEN81%WOMEN WOULD TRY ABS-201 FIRST (FIRST LINE)37%MEN36%WOMEN EXTREMELY OR VERY LIKELY TO ASK HCP ABOUT ABS-201 UP TO97%MENWOMENUP TO88%
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5-9M Pts Treated/YearAssuming 2-3 Year Durability Patient Funnel >$25BESTIMATED U.S. TAM >$40BPOTENTIAL GLOBAL TAM Total AGA pts in the US50M male, 30M female Income ≥$75K (US Census)Pts 17-69 yo Concerned / motivated about hair loss Strong interest in TPP Strongest interest in TPP withpremium price-to-performance COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 14 HAIR REGROWTH THERAPY 80M~39M~26M~22 – 24M~15 – 18M
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Developmentof ABS-201 in EndometriosisAddresses Long-standing Unmet Medical Need and Poor standard of care1. Large, untapped market offers significant upside potential 2.Strong Biological And Clinical Rationale: Including POC for PRLR mechanism in humans 3.COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 15 ABS 201 | ENDOMETRIOSIS
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oEndometriotic lesions produce prolactin under estrogen/progesterone control.oExcess prolactin promotes lesion growth and sensitizes pain-sensing nerves, contributing to chronic pelvic pain.oProlactin signaling is independent of sex-hormone pathways, offering a differentiated, non-hormonal treatment modality vs current therapies. COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 16 ABS-201 | ENDOMETRIOSIS PRLR antagonism is a novel and differentiated MoA in EndometriosisPRL and PRLR play a dual role in endometrial lesion development and pain response Stromal cellImmune cellAdipocyte PRL12Endometrial lesionLocal PRL PRLR-LPRLR-S Sensory neuron PAINPituitary PRL3 5 4 Sources: PMID 37169264
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PRLR antagonism reduces lesion formation and pain in endometriosis mouse model 17 ABS-201 | ENDOMETRIOSIS COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED * 12345 0 ** * Disease Score ControlGraft+ danazol+ faslodex+ cetrorelixProlactin Antagonist Antibody Prolactin inhibition decreases endometrial lesion formation in female mouse interna Relative UterineWeight (%)0.00.20.40.60.81.01.21.4* ControlGraft+ danazol+ faslodex+ cetrorelixProlactin Antagonist Antibody ** Sources: Patil et al. iScience 2019Otto et al. Pharmacol Res Perspect. 2022 % Distance travelled at Week 7 (compared to baseline) lgG1 – w/o transplantlgG1 – with transplantABS-201GnRh oABS-201 and GnRh modulator increase distance traveled relative to placebo over time as surrogate for pain reduction *p < .05 ** p<0.01; *** p<0.001
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COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 18 >$4.5B at peak salesPotential to generate ABS-201 | ENDOMETRIOSIS ABS-201 in Endometriosis offers a differentiated profile with potential for blockbuster peak salesNOVEL TREATMENT OPTION FOR ~9M PATIENTS IN THE U.S. ALONE WITH ENDOMETRIOSIS oNovel Mechanism: Non–sex-steroid (peptide) hormoneoPotential for Improved Safety Profile: Potential improved AE profile & longer use than GnRHoDual Action: Potential on both pain and lesion growth oBest-in-class Potential:Superior developability and expected half-lifeoDisease Modifying: Potential to treat causeoClinically validated: through HMI-115 Ph2 study
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Advancing and expanding our pipeline of novel & differentiated assets designed using AI *or equivalent ex-US filing CLINICAL STAGE PIPELINE READY FOR PARTNERING NEXT-GEN PIPELINE COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 19 PIPELINE THERAPEUTIC AREATARGET IDLEAD IDCANDIDATE IDIND-ENABLINGPHASE 1PHASE 2 ABS- 201Androgenetic Alopecia (PRLR)Endometriosis (PRLR)ABS- 101INFL. Bowel Disease (TL1A) Ph1 Partnering Ready ABS-501ABS-301 Early Discovery Programs Partnering ReadyPartnering Ready IND*DCLead Ph1 / 2a
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”Multilingual” team with expertise in AI and drug creation COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 20 TEAM Sean McClain Founder, CEO & Board Director Zach Jonasson, PHD Chief Financial Officer & Chief Business Officer Amir Shanehsazzadeh SVP, Chief AI Officer Shelby Walker, JD Chief Legal Officer Karin Wierinck Chief People Officer Christine Lemke SVP, Portfolio & Growth Strategy LEADERSHIP TEAM: Sean McClain Founder, CEO & Board Director Sir Mene Pangalos, PhD Former EVP R&D AstraZeneca Mary Szela CEO & President TriSalus Life Sciences Joseph Sirosh, PhD Former CVP AI Microsoft Dan Rabinovitsj VP Hardware Engineering, Meta Karen Mcginnis, CPA Former Chief Accounting Officer, Illumina Frans Van Houten Chairman of the Board Former CEO, Royal Phillips BOARD OF DIRECTORS: Andreas Busch, PHD Co-Chair SAB Chief Innovation Officer Ian McInnes, PHD Vice Principal and Head of College University of Glasgow Luis Diaz, MD Head, Division of Solid Tumor Oncology Memorial Sloan Kettering Cancer Center John Wherry, PHD Director, Institute for Immunology & Immune Health, University of Pennsylvania Victor Greiff, PHD Associate Professor University of Oslo Hubert Truebel, MD, PHD, MBA Chief Medical Officer AiCuris Sir Mene Pangalos, PHD Co-Chair SAB Former EVP R&D AstraZeneca SCIENTIFIC ADVISORY BOARD: Andreas Busch, PHD Chief Innovation Officer EXPERTISE AND BACKGROUND FROM:
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21 140EMPLOYEES Biologics drug discovery expertise from: “Multi-lingual” AI + Drug Discovery expertise AI team drawing on experience from tech leaders: 77,000SQUARE FEEToState-of-the-art wet and dry lab in Vancouver WAoAbsci AI Research (AAIR) lab in NYCoInnovation Centre in Zug Switzerland 3CLINICALSTAGE PROGRAMSIn Androgenetic Alopecia, Endometriosis, and InflammatoryBowel Disease >$143MBALANCE SHEET*RUNWAY INTO 1H 2028 10+PARTNERS, INCLUDING Absci at a GlanceOVERVIEW COPYRIGHT© 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED*As of December 31, 2025 - $143.7M Cash, Cash Equivalents and Marketable Securities(unaudited)
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Leading AI x Bio platform driving 2 Phase 2 readouts in the next 24 months COPYRIGHT © 2026 ABSCI CORPORATION | ALL RIGHTS RESERVED 22 CATALYSTS ABS-201 in AGAoAccelerated Ph1/2a Study initiated Dec 2025oSafety, Tolerability, and PK readout expected 1H 2026oInterim PoC Readout – anticipated 2H 2026 ABS-201 in ENDOoAccelerated Ph1/2a Study initiated Dec 2025oPhase 2 initiation expected in 2H2026
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Generative AIRe(Generative) Biology ABSCI CORPORATION 2026 ALL RIGHTS RESERVED 2026 J.P. MORGAN HEALTHCARE CONFERENCE