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Decoding life. Discovering cures. INVESTOR OVERVIEW January 2026, NASDAQ: LNAI
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Disclaimer and Forward-Looking Statements This presentation has been prepared by Lunai Bioworks, Inc. (“Lunai” or the “Company”) for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding Lunai’s scientific approach, platform capabilities, product candidates, development timelines, clinical outcomes, regulatory pathways, commercial potential, and future business plans. Forward-looking statements are based on current expectations and assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include but are not limited to: scientific and technical challenges; variability in biological and clinical outcomes; risks inherent in drug discovery and development; regulatory approval processes; reliance on third parties; intellectual property protection; competitive dynamics; and general market and economic conditions. Additional risks are described in Lunai’s filings with the Securities and Exchange Commission (SEC), including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this presentation, and Lunai undertakes no obligation to update or revise any forward-looking statements as a result of new information, future events, or otherwise, except as required by law. Scientific, preclinical, and translational data presented herein are preliminary in nature and may not be predictive of clinical outcomes. No assurances can be given that any product candidates or programs discussed will successfully advance through development, receive regulatory approval, or achieve commercial success.
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LUNAI BIOWORKS IS A NEXT-GENERATION DRUG DISCOVERY COMPANY BUILT TO REDUCE CLINICAL RISK BY REVERSE-ENGINEERING DISEASE BIOLOGY • After more than $42.5 billion invested*, there are still no therapies that reverse Alzheimer’s or Parkinson’s disease. Why? Because these conditions are defined by shared symptoms—but they are not single diseases. They are collections of biologically distinct subtypes. At Lunai Bioworks, our mission is to identify and treat those subtypes by applying AI to uncover patient groups driven by the same underlying biology—enabling truly effective, precision therapies. • We then validate potential therapeutics in living systems, producing de-risked drug candidates. • The result: faster programs, lower failure rates, and major cost savings for pharmaceutical partners. • We are focused on CNS diseases, (Alzheimer’s, Parkinsons, and Epilepsy), cancer and Biodefense. • *Source: Cummings, J., et al. "The costs of developing treatments for Alzheimer’s disease: A retrospective exploration," Alzheimer's & Dementia (2022).
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4 The $170B patent cliff driving urgent deal-making Scale and urgency of the crisis $170B+ Revenue at Risk Annual pharmaceutical revenue facing generic competition by 2030, representing 15-20% of total industry revenue for affected companies. 70 Blockbuster Drugs Number of blockbuster products (each generating $1B-$10B+ annually) losing patent protection during this window. 90%+ Price Compression Typical revenue decline post-loss of exclusivity as generic competition drives dramatic price erosion within 12-24 months. Why this creates unprecedented urgency Internal R&D Cannot Keep Pace Traditional drug development timelines of 10-15 years are too slow to offset near-term revenue loss. Development Costs Continue Rising Cost per approved drug now ranges from $2.5B to $5B, with success rates declining. Board-Level Pressure Intensifying Boards are demanding CEOs present comprehensive LOE mitigation strategies by Q1 2026..
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The market imperative The biopharma industry is deploying massive capital into external innovation to address a looming ($170B) patent cliff. The strategic focus has shifted to de- risking biology before clinical investment Lunai bioworks Bridges the gap Pharma’s current AI investments are fragmented into point solutions, either focused on computational biology or chemical design. There is a critical unmet need for a platform that bridges human data with relevant validation. Lunai Unifies Biology, AI, and In Vivo Proof into One Discovery Engine
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Lunai is unique in the precision medicine and drug discovery space IN VITRO VALIDATIONIN VIVO VALIDATION We have a unique platform for data standardization and integration and are the only tech bio company that couples sophisticated AI predictions with scalable validation in living organisms. Experiments are efficiently driven through AI and validated at low costs and with fast timelines. AI -DRIVEN
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Dimension Lunai – Augusta Platform Recursion Insilico Medicine Discovery Starting Point Disease-first: clinical-grade patient biology Molecule / phenotype-first Target / molecule-first Disease Understanding Explicit deconstruction into biological subtypes Implicit correlations Target-centric Biology Strategy Reverse-engineer pathways → proteins → genes Pattern recognition Target prediction Toxicity Handling Clinical-grade toxicity intelligence applied early Later-stage Later-stage Validation Model Closed-loop, in vivo CRISPR zebrafish + machine vision Predominantly in vitro Primarily computational Human Translation Risk Actively eliminated early High High Capital Efficiency Failure removed upstream Downstream failures Downstream failures
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LUNAI’S PLATFORM IS DISRUPTIVE AND POSITIONED FOR PARTNERING Lunai’s Augusta platform inverts the traditional AI drug discovery paradigm. Instead of starting with molecules and searching for signals, Augusta reverse - Engineers’ disease biology from clinical- grade patient data , deconstructing complex diseases into biologically coherent subtypes and only then designing precision- matched therapies —validated early in living systems. This shift fundamentally reduces failure risk, time, and capital intensity , addressing the core reason AI- discovered drugs still fail in the clinic: misunderstood biology .
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Biology is complex. The problem isn’t lack of investment; it’s lack of biological resolution. Despite trillions invested, most therapies for complex diseases manage symptoms rather than cure disease, because they assume a single biology where none exists. Lunai identifies biologically distinct sub-diseases and connects each to the therapies most likely to work. TARGET ID HIT SCREENING LEAD ID LEAD OP PRECLINICAL CLINICAL TRIALS >90% of clinical trials fail, most due to lack of efficacy
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The Augusta Platform – AI meets phenomics PHENOGRAPH COMPUTER VISION CLINICAL INSIGHTS MOA MINER AUGUSTA Quantifying biology in a living organism (in vivo) to validate AI predictions and identify novel therapeutics. Hundreds of proprietary models used to map Phenotypes from the clinic to the experimental lab. ML models for predictions of Mechanism of Action (MOA), describing how newly-identified compounds work. Patented AI process to group patients based on phenotype, identify biomarkers, and prioritize therapeutic targets. CONTINGENT AI the patented core technology that deploys machine learning through automated pre-processing pipelines of thousands of models
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Phenograph The Phenograph enables quick translation between human clinical and model system phenotypes. It applies our patented ContingentAI process to fill in the whitespace of known gene-phenotype associations using machine learning. 77% Of data is proprietary and AI-derived 329 Gene-disease prioritization prediction models 253K Graph nodes (Genes, phenotypes, drugs) 11.3M Graph edges (Associations)
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Computer vision Speed to validation Zebrafish offer whole organism vertebrate biology, where genetic predictions are rapidly validated in vivo on our automated high- throughput platform. Combined with our proprietary Computer Vision software, speed to target validation and Hit ID can be achieved in weeks. OUTPUTS • Morphological features Vascular or edema changes • Cardiac feature extraction Heart rate, ejection fraction • Behavioral features Seizure-like movement, velocity, activity
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PHENOGRAPH COMPUTER VISION CLINICAL INSIGHTS MOA MINER AUGUSTA CONTINGENT AI the patented core technology that deploys machine learning through automated pre-processing pipelines of thousands of models The Augusta Platform - Validation
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AUGUSTA PATENT PROTECTION • Our core IP addresses a fundamental challenge in drug discovery – data from siloed, disparate datasets can have inherent bias that confounds AI. • We created a unique process for data processing and integration that allows generation of robust AI/ML models from real world datasets. We were issued a US patent for this method in 2022. • Our second awarded patent (June 2025) secures our proprietary approach to harmonizing diverse data sources into a unified framework and is specific to drug discovery applications. Patent No Filing Date Status Description Next steps 18/058,732 11/23/2022 Awarded METHODS, SYSTEMS, AND FRAMEWORKS FOR DEBIASING DATA IN DRUG DISCOVERY PREDICTIONS Notice of Allowance issued. 16/528,497 7/31/2019 ISSUED METHODS, SYSTEMS, AND FRAMEWORKS FOR DATA ANALYTICS USING MACHINE LEARNING 3.5 Maintenance Fee due 7/5/25 – US Patent No. 11,379,757
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Alzheimer's/Mental health3 U.S. 60 million patients Worldwide >1 billion patients Annual drug sales $24B Parkinson’s Disease1 U.S. 1.1 million patients Worldwide >10 million patients Annual drug sales $7-7.5B Sources: (graphic) https://www.snsinsider.com/reports/central-nervous-system-treatment-market-3100 1. https://www.precedenceresearch.com/parkinsons-disease-therapeutics-market 2. https://www.precedenceresearch.com/epilepsy-drug-market 3. https://www.who.int/news/item/02-09-2025-over-a-billion-people-living-with-mental-health-conditions-services-require-urgent-scale-up Epilepsy2 U.S. 3.5 million patients Worldwide 50 million patients Annual drug sales $10-11B Lunai’s broad CNS pipeline addresses a massive unmet need— neurological disorders affecting roughly 26% of Americans
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Lunai identified 3 sub-type specific biomarkers in Parkinson’ Disease
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17 CarPARTERNSHIP Assisted Supernus in stratifying Epilepsy patient sub-types that will respond to the drug, SPN-817 Quantified effect of small molecule drug to reduce seizure phenotype in genetic models and predict patient responses PHENOTYPE RESCUE BY DRUG Results & Impact: • SPN-817 reversed seizures in 2 genetic models • Partner used zebrafish data for FDA submission • Phase 2 trial in DRE is being launched using patient stratification strategy informed by genetic models PREDICTED GENES ZEBRAFISH GENETIC MODELS - LOCOMOTION - SEIZURE - MORPHOLOG Y 0 0.01 0.02 0.03 0.04 0.05 0.06 0.07 Control SCN2A (scn1lab) CDKL5 SCN8aa KCNQ2 PCDH19 STXBP1b Activity (% change) Baseline Locomotion PTZ PTZ+Drug Seizure Assay Gene A Gene B Gene C Gene D Gene E
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Deerfield is an investment management firm and their 3DC group is an internal R&D organization that progresses novel therapeutic targets with a goal of out-licensing therapeutic assets to pharma companies at the preclinical or clinical stage. 5-year partnership to form joint ventures to advance new therapeutics. 50:50 ownership structure. Each JV will be funded by Deerfield with an initial pre-money valuation of $4M and up to $40M in funding. TARGET ID TARGET PRIORITIZATION LEAD ID LEAD OP PRECLINICAL CLINICAL TRIALS Deerfield partnership to discover and develop novel therapeutics
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BioSymetrics (a subsidiary of Lunai Bioworks) received a fast-tracked Phase I/II STTR grant in August 2025 to identify novel therapeutics for Alcohol Use Disorder (AUD) using its AI-based zebrafish platform. This $1.85M grant, shared with Brigham and Women’s Hospital (Harvard Medical School) allows us to scale our efforts in a world class animal and microscopy facility. NIH STTR grant allows for increased experimental capacity
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20 Revenue Model: De-Risked CNS Assets for Pharma Partnership & Licensing Lunai is uniquely positioned to address pharma’s neuroscience patent cliff by delivering de-risked CNS assets with clean IP, validated biology, and precision medicine alignment. Our platform generates the exact criteria pharma uses to evaluate partnerships and acquisitions—mechanistic clarity, biomarker-defined patients, and early clinical confidence—during this critical revenue replacement cycle. Why Pharma Partners with Lunai in CNS Clinical and Biomarker Clarity Our programs demonstrate clear clinical signals and biomarker readouts, substantially reducing technical risk versus earlier-stage discovery assets. This clinical validation is precisely what pharma needs to justify large acquisitions to boards and investors. Differentiated Mechanism of Action Clear mechanistic understanding and differentiation from failed approaches gives pharma confidence in our distinct profile versus prior development failures. Novel mechanisms command premium valuations and reduce competitive concerns. Precision Medicine Alignment Our patient stratification and biomarker-driven development approach aligns with pharma's strategic shift toward precision neuroscience. This is where the industry is heading, making our capabilities increasingly valuable over time.
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21 What We Sell: Partner-Ready CNS Discovery Outputs Delivering partner-ready biology, biomarkers, and assets from real-world and clinical data. Patient Subtyping & Disease Stratification Identify hidden patient sub-groups that drive progression, heterogeneity, or treatment response. • Used in Parkinson’s Disease to define 9 clinically meaningful clusters tied to motor decline, cognitive impairment, and symptom trajectories. • Applied in COVID-ARDS with Northwell Health, enabling real-time prioritization of lab tests 4 hours prior to clinical onset. Biomarker Discovery & Trial Ready endpoints Uncover biomarkers linked to disease milestones, severity, or therapeutic response. • Supported multiple high-impact publications (COVID biomarkers, ARDS phenotyping, post-COVID anosmia). • Enables smarter trial design, inclusion criteria, and responder identification. In Vivo–Validated Small-Molecule Assets Using our in vivo, NIH-supported platform, we both predict and validate toxicity and efficacy effects in a living system • Identify optimal indication for small molecules • Computationally down-select compounds based on predicted toxicities • Develop novel chemical assets Representative Impact ARDS Trial Enablement: AI models stratified patients, improving clinical prediction and trial feasibility. Parkinson’s Disease: ML predicted subgroup membership with high accuracy for >1,000 patients. Epilepsy: From target prioritization to novel chemotypes of interest with efficacy in mouse in under 3 months.
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2024 NEUROLOGY R&D: 59 DEALS, $36.5B TOTAL VALUE, $2.6B UPFRONT * LUNAI USES A PRE-CLINICAL LICENSING MODEL DESIGNED FOR SUBSTANTIAL REVENUES *Dataform: Neurologic R&D Partnerships, M&A, Ventures, and IPOs in 2024 By Mohteshim Ashraf Apr 14, 2025
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BIODEFENSE THE SAME PLATFORM THAT DE-RISKS CNS DRUG DISCOVERY CAN RAPIDLY DETECT, ANALYZE, AND COUNTER EMERGING CHEMICAL AND BIOLOGICAL THREATS The Problem Modern Threats Are Evolving Faster Than Traditional Defense R&D Lunai’s Advantage Augusta Was Built for Exactly This Problem Why It Matters High Urgency. High Budgets. Non- Dilutive Capital Chemical and biological threats are increasingly: • Novel • Synthetic • Rapidly iterated • Traditional biodefense pipelines take years, not weeks • Governments lack scalable platforms that link: • detection → biological impact → countermeasure selection • Reverse-engineers biological impact from real-world data • Maps phenotypic effects to genes, pathways, and mechanisms • Validates predictions in vivo at speed • Identifies: • Known drugs for rapid repurposing • Novel countermeasures where none exist Biodefense is not a separate platform — it is a natural extension of Augusta. Government customers prioritize: • Speed • Biological confidence • Actionable outputs Funding pathways include: • DoD / BARDA contracts • NIH / STTR grants Strategic stockpiling programs Enables: • Revenue diversification • National-security relevance
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BIODEFENSE EXECUTION AND REVENUE MODEL BIODEFENSE MONETIZES SPEED, BIOLOGY, AND CERTAINTY — THE SAME ASSETS PHARMA VALUES IN CNS. Step 1: Threat Analysis Rapid assessment of novel chemical or biological agents Predicts: Toxicity Organ systems affected Mechanism of action Step 2: Countermeasure Identification Screens: Approved drugs Off-patent generics Proprietary novel compounds Prioritizes candidates most likely to neutralize biological impact Step 3: In Vivo Validation •Confirms efficacy and toxicity in living systems •Produces biologically validated evidence required by: • DoD • BARDA • Regulatory agencies Revenue Pathways Non-Dilutive & Strategic •Government R&D contracts •Emergency response funding •Grant-supported development Commercial & Licensing •Licensed countermeasures •Use-patent strategies •Stockpiling and procurement orders Strategic Optionality •Dual-use IP applicable to: • Neurotoxicity • Organ failure • Environmental exposure
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Other Programs: Currently In Partnership Discussions Dendritic Cell Cancer Therapy (DCCT) Overview Lunai DCCT represents a next-generation dendritic cell (DC) immunotherapy platform, leveraging allogeneic CD34+ HSC-derived DCs engineered to enhance immune activation and durability. Off-the-Shelf Scalability Eliminates per-patient manufacturing delays and costs inherent in autologous platforms like DCVax Engineered Precision Optimized immune activation versus unloaded or tumor-lysate- based vaccines with unpredictable potency Solid Tumor Focus Addresses pancreatic, ovarian, and CNS indications with exceptionally high unmet medical need Enhanced Therapeutic Potency Enhanced antitumor activity, multimodal immune activation, superior to monocyte derived DCs 80-90% Tumor Reduction in preclinical pancreatic cancer models Q3 2026 First-in-Human trial initiation targeted
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26 The DCCT is a unique, scalable cell therapy for solid tumors • Patent protected, with two peer reviewed publications outlining the approach and efficacy1, 2 • Two humanized mouse models show reduction/ablation of pancreatic tumors • Pre-IND meeting with the FDA did not identify any hurdles to Phase I proposed basket trial • Currently engaged with multiple pharmaceutical partners on out-licensing 1. https://www.mdpi.com/2076-393X/13/7/749 2. https://www.mdpi.com/2076-393X/13/11/1131
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2026 REVENUE CATALYSTS Pharma Revenue Secure 6 CNS partnerships for: Parkinson’s Epilepsy Alzheimer’s Secure 1 oncology partnership Out-license our immunotherapy program for oncology Non-dilutive / government revenue Receive a government contract for biodefense Release findings on chemical weapon countermeasures Form industry / academic consortium for biodefense
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Gabe Musso, PhD, CSO (BioSymetrics) • Co-founder and Chief Scientific Officer of BioSymetrics (acquired by Lunai in 2025), a biotech company that executed contracts with 3 of the top 5 global pharmaceutical companies • Pioneer in applying machine learning models to predict gene and drug effects, and in using zebrafish for large scale drug screening • Named one of the ’Top 100 innovators in AI drug discovery’ • PhD in Molecular Genetics and Computational Biology from the University of Toronto, Postdoctoral fellow at Harvard Medical school and Brigham and Women’s Hospital. David Weinstein, CEO • Appointed by the board of directors as CEO in October 2024 • Former managing partner of Investment Banking at Dawson James Securities, Inc. • At Dawson James, Mr. Weinstein directly sourced over $300 million in investments for small-cap biotech and healthcare companies • Spearheaded the merger of two healthcare companies in personalized diagnostics, and assisted in up-listing to NASDAQ • Bachelor of Arts in Liberal Arts from St. John’s College and Masters in Public Management from University of Maryland The Lunai Executive Team Nathen Fuentes, CFO • Appointed as CFO in January of 2025 • Previously served as the Chief Financial Officer at Telomir pharmaceuticals, an emerging leader in age-reversal science. • Former Chief Financial Officer of Emergence Health Holdings, and Controller of Glytec • Experienced Associate at Price Waterhouse Coopers • Experience leading acquisition and organic growth initiatives within highly levered environments while maintaining investor relations, human resources, finance, accounting, and revenue cycle functions
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James McNulty • CFO for MIRALOGX, LLC, a privately held incubator which develops and licenses pharmaceutical intellectual property to private and public entities. • Currently Interim CFO for Inhibitor Therapeutics, Inc. (OTCQB: INTI), where he has served since 2022. • 26-year career as founder of three CPA firms • Served as CFO for multiple biopharmaceutical companites, including 3 years with Star Scientific, Inc. (NASDAQ: STSI) and 15 years with BioDelivery Sciences International, Inc. (NASDAQ: BDSI) • Formerly CEO of MYMD Pharmaceuticals, Inc. (NASDAQ: TNFA) from its inception in 2014 until it became public in early 2020. • CFO of MIRA Pharmaceuticals, Inc. from inception in 2020 until it became public Douglas Calder • President and a director of Vycellix, Inc and its subsidiaries and affiliates since 2015 • Member of the board of directors for Zevra Therapeutics, Inc. (NASDAQ: ZVRA); Member of the board of directors for NextGenNK; member of the board of directors of BioFlorida;, and a member of the Society for Natural Immunity since July 2018 • Various senior executive roles for biotechnology companies and research institutes including Viragen, Accentia Biopharmaceuticals, Biovest International and the Vaccine & Gene Therapy Institute of Florida • Formerly served as a registered financial portfolio manager with a focus on life science equities with the New York Stock Exchange member firms Mark Collins, PhD • 40-year career leveraging computers in drug discovery, blending biology, AI, and software • He has played key roles in biotech startups, large Pharma, and tech companies, leading several to successful exits. • Chief Scientific Officer at UndauntedBio Inc., repurposing existing drugs for acute and chronic neuropathic pain conditions. • Formerly, the VP Translational Services at Icometrix, driving the adoption of AI assisted MRI and digital health tools to help Pharma improve the translational success of CNS therapies for a range of neurodegenerative diseases, such as Multiple Sclerosis, Alzheimer’s, and Parkinson’s. • Previously at Helomics, Corp., most recently as its CTO, where he drove the commercial realization and go-to-market of AI-driven predictive models of tumor drug response
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News Releases • December 9, 2025 • Lunai Bioworks Identifies Three Parkinson's Subtypes and Prioritized Drug Targets to Accelerate Proof-of-Concept Programs and Strategic Partnerships in a $13B Market • November 25, 2025 • Lunai Bioworks Secures First Licensing LOI Following Landmark Breakthrough Showing Complete Tumor Regression in Humanized Cancer Models • November 5, 2025 • Lunai Bioworks achieves complete regression of both primary and metastatic pancreatic tumors in preclinical humanized models, marking a breakthrough in allogeneic cancer immunotherapy • October 30, 2025 • Lunai Bioworks Harnesses AI and Zebrafish Data to Advance Early Detection of Neurotoxic Compounds • October 16, 2025 • Landmark Study Identifies Prognostic Biomarkers in Duchenne Muscular Dystrophy Using Large-Scale Serum Proteomics • October 16, 2025 • Lunai Bioworks Regains Compliance with Nasdaq Minimum Bid Price Requirement • October 6, 2025 • Lunai Bioworks Launches AI-Powered Alzheimer's Disease Program, Expanding Neurodegenerative Pipeline LNAI NASDAQ Listed Shares Outstanding 23.6M Beneficial Shares Held 8.7M(38%) Sector Healthcare Industry Biotechnology Fiscal Year End June 30 Capital Market Summary
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Decoding life. Discovering cures. Gabe Musso, PhD CSO gabe@lunaibioworks.com www.lunaibioworks.com NASDAQ: LNAI