GENERATIVE AI ABSCI CORPORATION 2025 ALL RIGHTS RESERVED DRUG CREATION 2025 J.P. MORGAN HEALTHCARE CONFERENCE
2C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Disclaimers Forward-Looking Statements Certain statements in this presentation that are not historical facts are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements containing the words “will,” “may,” “anticipates,” “plans,” “believes,” “forecast,” “estimates,” “expects,” “predicts,” “advancing,” “aim,” and “intends,” or similar expressions. We intend these forward-looking statements, including statements regarding our strategy, our expectations regarding the clinical, therapeutic and market potential of product candidates discovered and developed through our platform; the potential advantages of our technology and the assets in our internal pipeline; our ability to achieve catalysts in our preclinical and clinical development programs, such as the initiation of IND-enabling studies and Phase 1 clinical development and the receipt of clinical data; the anticipated timing of such events; the expected evolution of our portfolio over time; guidance regarding cash, cash equivalents and our projected cash runway, our future operations, internal research and technological development activities, estimated speed and cost advantages of leveraging our AI drug creation platform; our expectations regarding the status and progress of our existing partnerships and our plans for potential new partnerships; our expected operational efficiencies, research and technology development collaboration efforts, growth plans, prospects, plans and objectives of management, to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Securities Exchange Act, and we make this statement for purposes of complying with those safe harbor provisions. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies, and prospects, which are based on the information currently available to us and on assumptions we have made. We can give no assurance that the plans, intentions, expectations, or strategies will be attained or achieved, and, furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control, including, without limitation, risks and uncertainties relating to the development of our technology as well as the assets in our internal pipeline, our ability to secure milestone payments and royalties, and our ability to effectively conduct research, drug discovery and development activities with respect to our internal programs and to collaborate with our partners or potential partners with respect to their research, drug discovery and development activities; along with those risks set forth in our most recent periodic report filed with the U.S. Securities and Exchange Commission, as well as discussions of potential risks, uncertainties, and other important factors in our subsequent filings with the U.S. Securities and Exchange Commission. Except as required by law, we assume no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. Market and Statistical Information This 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®, Bionic SoluPro® 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.
3C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Absci is a data-first generative AI Drug Creation™ company P A R T N E R S H I P S Strategic Collaboration with AMD committing $20M equity investment in Absci Achieved 2024 partnership guidance with 4 new partners announced: MSKCC, Twist Bioscience, Invetx & Owkin P L A T F O R M Launched latest de novo antibody design models unlocking previously undruggable targets ie: HIV “Caldera” Successful execution in partnerships including with: AstraZeneca, Almirall, and Caltech P I P E L I N E ABS-101: “Best-in-class” potential anti-TL1A antibody entering clinic 1H 2025 ABS-201: nomination of drug candidate for androgenic alopecia addressing significant clinical and commercial opportunity ABS-301 & ABS-501: lead and candidate ID on novel and differentiated programs designed using AI
4C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . LEADING AI MODELS Leading de novo AI model for antibody design with proof- points in internal and partnered programs DATA ADVANTAGE Proprietary ultra-high throughput data generation in 77,000+ ft2 lab Amassing high quality data at scale since 2020 ‘MULTILINGUAL’ EXPERTISE World-Class Cross-disciplinary discovery and AI team >10 Drugs Approved under current leadership COMPUTE AT SCALE Compute at scale enabled by partnerships with AMD, NVIDIA & Oracle Ingredients for Success Absci’s leadership in AI de novo antibody design
5C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Since 2020 Absci has been amassing high-quality data at scale for AI model training and validation D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale DATA TO TRAIN Proprietary High throughput screening assays generate high- quality data for generative AI model training WET LAB TO VALIDATE 77,000 Sqft+ lab to validate AI-generated designs AI TO CREATE Advanced generative AI models create antibodies and next-gen biologics through de novo design and AI Lead Optimization 6 WEEK ‘LAB IN A LOOP’ CYCLES CONTINUOUSLY IMPROVE AI MODELS
6C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Leadership in AI de novo design of antibody-based therapeutics EVQLSEVGA . . . de novo antibody design model creates epitope-specific binders given a target structure Designed in framework of choice or multiple frameworks INPUT EMBEDDING STRUCTURE PREDICTION (DIFFUSION) . . . ARCPSIWKFPDEEGACQPC . . . Antigen Structure/Sequence (Epitope) PROTEIN LANGUAGE MODELS Co-optimization enables improvement of antibody attributes while maintaining developability Precise engineering of molecule pharmacology AI LEAD OPTIMIZATIONDE NOVO ANTIBODY DESIGN D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale
7C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Leading AI models to create novel & differentiated therapeutics “Smart” biologics Enhanced Potency & MOA Engineer selectivity, minimizing off target toxicity Agonism vs. Antagonism Bind Specific extracellular domains Target Specific conformations Address difficult target classes e.g. GPCRs ADDRESS COMPLEX AND PREVIOUSLY “HARD TO DRUG” TARGETS INTRODUCE PRECISE CONTROL OVER ANTIBODY DESIGN D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale
8C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Platform Case Studies AI LEAD OPTIMIZATIONDE NOVO ANTIBODY DESIGN Goal: create universally neutralizing HIV antibody by binding conserved epitope within “caldera” region of HIV gp120 Absci’s de novo design platform can successfully address difficult to drug target epitopes Goal: Co-optimize antibodies for pH sensitive binding to increase efficacy and reduce Absci’s lead optimization platform enables molecules with differentiated pharmacology AI LEAD OPTIMIZATION FOR PH SENSITIVITY WHICH MAY REDUCE TOXICITY AND/OR IMPROVE EFFICACY OF THERAPEUTIC mAbs VIEW THE FULL CASE STUDY DE NOVO ANTIBODY DESIGN PROGRAM IN COLLABORATION WITH CALTECH FUNDED BY THE GATES FOUNDATION VIEW THE FULL CASE STUDY D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale Model searches a massive space of ~1019, identifying functional and developable antibodies in one step.
9C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . de novo Model v1 Absci was the first to design and validate novel antibodies using zero-shot generative AI in BioRxiv preprint de novo Model v2 Demonstrated de novo design model’s broad applicability to multiple therapeutic antigens in Neurips publication de novo Model v3 Successfully designed high affinity binders to an epitope without known binder in Large Pharma partnership de novo Model v4 and continued development Successfully de novo designed against previously “undruggable” target in HIV “Caldera” program in collaboration with Caltech D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale 2022 2023 2024 2025 Since publishing the first work in AI de novo antibody design, Absci has continued to rapidly progress and lead the field
10C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Strategic Collaboration to Accelerate the Future of AI Drug Discovery x
11C O P Y R I G H T © 2 0 2 4 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D .
12C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Why We Chose AMD: Key Advantages of AMD MI300X Chips D ata A dvantage Leading A I M odels D rug D iscovery Expertise C om pute A t Scale Unmatched Training Resolution • Why it matters: Model large protein complexes without cropping, preserving biological context for superior predictions and model accuracy (validated using Boltz-1) • How: Powered by AMD’s industry-leading high-memory capacity. Accelerated Throughput • Why it matters: Significantly scales in silico antibody design and evaluation, reducing R&D timelines and costs. • Proof points: • Ability to design library of 12,000+ de novo antibodies in under 1 week using Absci’s IgDesign model • Parallelized inference on 1,400 sequences at once for rapid antibody optimization. • How: Batch processing capabilities powered by AMD’s high- memory capacity deliver unmatched speed and efficiency. PDB:8RRV structure prediction time: 15 minutes Nb9657 FKBP RyR1 PDB:8RRV = Ryanodine Receptor isoform 1 (RyR1) in complex with FKBP and Nb9657 1Wohlwend et al. 2024, bioRxiv 2Shanehsazzadeh et al. 2024, bioRxiv 3https://github.com/AbSciBio/igdesign Example of complex ion channel which typically needs to be cropped, or apply low-memory architectures to resolve without MI300X GPUs
13C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . AI Drug Creation™ Partnerships Data & compute collaborations 25+ PARTNERED PROGRAMS SCALING COMPUTE 4 NAMED INTERNAL PROGRAMS ADDITIONAL PROGRAMS IN EARLY DEVELOPMENT IMPROVING MODELS INCREASING EFFICIENCIES 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 Partnership Ecosystem
14C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . ”Multilingual” team with expertise in AI and drug creation Sean McClain Founder, CEO & Director Andreas Busch, PHD Chief Innovation Officer Zach Jonasson, PHD Chief Financial Officer & Chief Business Officer Amaro Taylor-Weiner, PHD SVP, Chief AI Officer Karin Wierinck Chief People Officer Christian Stegmann, PHD SVP, Drug Creation Christine Lemke, DVM SVP, Portfolio & Growth Strategy Shelby Walker, JD Chief Legal Officer Karen Mcginnis, CPA Former Chief Accounting Officer, Illumina Amrit Nagpal Managing Director, Redmile Group Joseph Sirosh, PHD Former CTO, Compass VP, Amazon & Microsoft Dan Rabinovitsj VP Hardware Engineering, Meta Frans Van Houten Chairman of the Board Former CEO, Royal Phillips Sir Mene Pangalos, PHD Former EVP R&D AstraZeneca Sean McClain Founder, CEO & Board Director Ian McInnes, PHD Vice Principal and Head of College University of Glasgow Hubert Truebel, MD, PHD, MBA Chief Medical Officer AiCuris 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 Sir Mene Pangalos, PHD Co-Chair SAB Former EVP R&D AstraZeneca Andreas Busch, PHD Co-Chair SAB Chief Innovation Officer L E A D E R S H I P T E A M B O A R D O F D I R E C T O R S S C I E N T I F I C A D V I S O R Y B O A R D E X P E R T I S E & B A C K G R O U N D F R O M Penelope Chief Morale Officer O U R P E O P L ED ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale 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
15C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . INFL. Bowel Disease / TL1A Androgenic Alopecia / PRLR Immuno-oncology / Undisclosed 3 New Early Discovery Programs Target Lead ID Candidate ID IND-Enabling ABS-101 ABS-201 ABS-301 Phase 1 Oncology / HER2 ABS-501 IND* Therapeutic area/target DC Advancing and expanding our pipeline of novel & differentiated assets designed using AI Lead *or equivalent ex-US filing Potential “best-in-class” Potential “first-in-class” A B S - 1 0 1 FiH in 1H25 and Ph1 Interim data readout 2H25. New preclinical data support potentially superior immunogenicity profile. KEY HIGHLIGHTS A B S - 2 0 1 Category defining PRLR antibody for androgenic alopecia. IND- enabling activities initiated, with potential to be first in U.S market. A B S - 3 0 1 Potential first-in-class asset with target validation and initial preclinical efficacy readouts in 1H25. A B S - 5 0 1 Candidate ID phase for novel HER2 program designed using de novo AI D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale A I P I P E L I N E
16C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Latest NHP data confirm compelling profile and target engagement Confirmatory target engagement N o n - H u m a n P r i ma t e s ( N H P ) s i n gl e d o s e P K / P D s t u d y h i g h l i g h t s : Significant improved target engagement vs. competitor molecules at comparative dosing regimen Dose dependency of target engagement including ceiling effect T A R G E T E N G A G E M E N T O V E R T I M E P R O F I L E ( T O T A L s T L 1 A A F T E R S I N G L E D O S E ) A B S - 1 0 1 T L 1 A
17C O P Y R I G H T © 2 0 2 4 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . ABS-201 has the potential to unlock a wholly new category of therapy in hair “re-growth” Significant unmet clinical need for androgenic alopecia Large market: 80-90M patients in U.S., which is a highly motivated patient population CLINICAL AND COMMERCIAL UNMET NEED Straightforward clinical development path with option for early Proof of Concept Low competition, potentially first to U.S. market DEVELOPMENT PATH Highly validated target (efficacy & safety) for treatment of androgenic alopecia Supportive pharmacological profile of ABS-201 SCIENTIFIC RATIONALE D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale 5
18C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Significant underserved patient population looking for therapeutic innovation FEMALE ANDROGENIC ALOPECIA ~30M women in U.S. Only 1 FDA approved therapy for women ~50M men in the U.S. Only 2 FDA approved therapies 80 - 90 MILLION AMERICANS LIVE WITH ANDROGENIC ALOPECIA MALE ANDROGENIC ALPOPECIA Growing patient population with limited therapeutic options and side-effect concerns Last FDA approved therapy for androgenic alopecia was in the 1990s Patients and clinicians need better treatment options for “hair re-growth” Hair re-growth, not just slowing of hair loss Safe and minimal side effects Durable effect Convenient administration frequency FDA approved D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale A B S - 2 0 1
19C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Prolactin Receptor inhibition is an innovative alternative to current treatment options Proposed impact of ABS-201 on Hair Cycle Stages ABS-201 has the potential to: Catagen ↑↑ Apoptosis & Regression Telogen Resting Phase Hair falls out PRLR Anagen Active Growth & New Hair ABS-201 Anagen ↑↑ Active Growth & New Hair 2-6 years Telogen Resting Phase Hair falls out PRLR Catagen Apoptosis & Regression Shift the balance in hair cycle stage towards anagen phase1,2 with: • active and new hair growth • prevention of telogen effluvium Restore hair pigmentation2 Promote a long-lasting effect after treatment cessation 1 doi: 10.1016/S0002-9440(10)64295-2 2 doi: 10.2353/ajpath.2006.050468 Prevent prolactin mediated telogen effluvium1,2 A B S - 2 0 1D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale
20C O P Y R I G H T © 2 0 2 4 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . Treatment with an anti-PRLR mAb promotes and sustains long-term hair growth in NHP TOP HEAD VIEW OF STUMPTAILED MACAQUE’S SHOWING PHENOTYPIC CHANGE OVER TIME 40mg/kg s.c. Q2W for 28 weeks Disclosure from competitor Hair density & thickness improved with short treatment duration in primate model of androgenic alopecia Hair growth remains several years post cessation Hair regrowth observed for both male and female animals M al e Fe m al e Baseline 12 weeks 28 weeks 6 months 2 years 4 years Post-treatmentTreatment Translational Model validates PRLR Target D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale
21C O P Y R I G H T © 2 0 2 4 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . 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 D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale Error bars= SEM *** *** *** * A B S - 2 0 1
22C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . ABS-201 represents a significant untapped new market opportunity Consumers across income levels invest in aesthetic treatments, driving steady demand. STRONG WILLINGNESS TO SELF-PAY ACROSS DEMOGRAPHICS UNLOCKS WHOLLY NEW CATEGORY OF THERAPY Lack of innovation and effective treatments in the hair loss space Hair is long considered the last frontier of medical aesthetics market Potential 2-3X larger depending on clinical profile and additional indications such as hair re-pigmentation $14B+ MARKET WITH SIGNIFICANT UPSIDE POTENTIAL Source: BCG D ata A dvantage Leading A I M odels “M ultilingual” Expertise C om pute A t Scale
23C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . 1H 2025 2H 20251H 2025 Leading AI platform driving numerous near-term value inflection points ABS-101 Ph 1 double-blind, placebo-controlled Clinical Trial initiation ABS-101 Phase 1 Interim Data Readout ABS-201 IND-enabling activities initiated 4Q 2024 ABS-301 Immuno-oncology Development Candidate 2025 Partnerships: • New partnerships including Large Pharma • Milestones on current partnerships • Potential internal asset transaction 1H 2026 ABS-101 Ph1b/2a Clinical Trial Initiation ABS-201 Ph1 Trial Initiation with opportunity for rapid PoC C A T A L Y S T S
24C O P Y R I G H T © 2 0 2 5 A B S C I C O R P O R A T I O N . A L L R I G H T S R E S E R V E D . B E S T I N C L A S S G E N E R A T I V E A I P L A T F O R M H I G H - V A L U E A S S E T P O R T F O L I O W I N - W I N P A R T N E R S H I P S
