Slide 1: ABCL635 Phase 2 Clinical Update
ABCL635 PHASE 2 CLINICAL UPDATE COPYRIGHT © ABCELLERA AUGUST 10, 2026
Slide 2: Disclaimer
DISCLAIMER ABCL635 Phase 2 Clinical Update Q3 2026 This document contains forward-looking statements, including statements made These statements involve risks, uncertainties and other factors that may cause pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act actual
Slide 3: Speakers
SPEAKERS ABCL635 Phase 2 Clinical Update Q3 2026 Carl Hansen, PhD Sarah Noonberg, MD, PhD Kelsey Mills, MD Chief Executive Officer Chief Medical Officer Clinical Associate Professor of Obstetrics & Gynecology, University of British Columbia COPYRIGHT © ABCELLERA 3
Slide 4: Phase 2 data suggest ABCL635 potential best-in-class non-hormonal VMS treatment
Phase 2 data at week 4 suggest ABCL635 has the potential to be a best-in-class non-hormonal treatment for moderate-to-severe vasomotor ABCL635 Phase 2 Clinical Update Q3 2026 symptoms (VMS) Markedly improved Data supports an Dosing convenience efficacy data improved safety with long-acting compared to
Slide 5: ABCL635 has the potential to address a large unmet need in VMS
ABCL635 has the potential to address a large unmet need in VMS due to menopause and cancer treatment ABCL635 Phase 2 Clinical Update Q3 2026 VMS Due to Menopause VMS Due to Cancer Treatment 1M+ women Many patients experience could benefit from safe and effective VMS during cancer treatment non-hormon
Slide 6: Dr. Kelsey Mills
Education & Specialized Training • H BSc, Mount Allison University • MD, University of Toronto • Obstetrics and Gynecology Fellowship, University of Toronto • MSc HSEd, McMaster University • Complex Menopause Fellowship, University of Toronto • Menopause Certified Practitioner (The Menopause Society
Slide 7: Phase 2 Study Trial Design
ABCL635 Phase 2 is a randomized, double-blind, placebo-controlled, multicenter trial in postmenopausal women Phase 2 Study Trial Design N ~ 80 planned ABCL635 Phase 2 Clinical Update Q3 2026 Participants 92 postmenopausal women with moderate-to-severe VMS N=46 per cohort Comparable to Phase 3 entry
Slide 8: Demographic and baseline characteristics were well balanced
Demographic and baseline characteristics were well balanced ABCL635 (600 mg) Placebo Phase 2 Population Once Monthly, SC (N=46) Once Monthly, SC (N=46) Asian 1 (2.2) 1 (2.2) Race, n (%) Black 2 (4.3) 3 (6.5) ABCL635 Phase 2 Clinical Update Q3 2026 ● Baseline characteristics, White 43 (93.5) 42 (91.3
Slide 9: ABCL635 reduced the frequency of moderate and severe VMS
ABCL635 reduced the frequency of moderate and severe VMS starting at week 1 through week 4 Frequency of Moderate and Severe VMS ABCL635 Phase 2 Clinical Update Q3 2026 ● Mean placebo-adjusted Primary MMRM analysis Sensitivity MMRM analysis treatment difference of 2.6 at week 1 ● Mean placebo-adjuste
Slide 10: ABCL635 reduced the severity score of moderate and severe VMS
ABCL635 reduced the severity score of moderate and severe VMS starting at week 1 through week 4 Severity Score of Moderate and Severe VMS ● Mean placebo-adjusted ABCL635 Phase 2 Clinical Update Q3 2026 Primary MMRM analysis Sensitivity MMRM analysis treatment difference of 0.3 at week 1 ● Mean place
Slide 11: ABCL635 reduced the severity score of moderate and severe VMS
ABCL635 reduced the severity score of moderate and severe VMS starting at week 1 through week 4 ABCL635 Phase 2 Clinical Update Q3 2026 ● Mean ABCL635 severity at week 4 = 1.0 (mild) ● Mean placebo severity at week 4 = 2.1 (moderate) COPYRIGHT © ABCELLERA SE: Standard Error; VMSM-S: moderate and sev
Slide 12: Participants fared better than placebo across all threshold values
ABCL635 participants fared better than placebo across all threshold values Cumulative Distribution at Week 4 of VMS Moderate-to-Severe Frequency and Severity Scores VMS Frequency VMS Severity ABCL635 Phase 2 Clinical Update Q3 2026 % Reduction from ABCL635 (N=46) Placebo (N=46) % Reduction from ABCL
Slide 13: ABCL635 significantly improved sleep
ABCL635 significantly improved sleep starting at week 1 through week 4 PROMIS-SD-SF-8b Total T-Score Change from Baseline ABCL635 Phase 2 Clinical Update Q3 2026 ● Significant treatment difference of -5.5 at week 4 ● Improvements observed across all 8 aspects of sleep disturbance including: ○ Trouble
Slide 14: Patient Global Impression of Change at Week 4
84% of ABCL635 patients rated symptoms as “Much Better” or “Moderately Better” vs. 27% of placebo patients Patient Global Impression of Change (PGI-C) at Week 4 ABCL635 Phase 2 Clinical Update Q3 2026 ● Significant differences observed as early as week 1 ● Benefits persisted throughout 4 weeks COPYRIG
Slide 15: ABCL635 demonstrates a favorable tolerability profile
ABCL635 demonstrates a favorable tolerability profile Adverse Events (AEs) reported in at least two patients in either group regardless of relationship during first 4-weeks of treatment ABCL635 (600 mg) Placebo ● No SAEs or severe (Grade 3+) AE Preferred Term Once Monthly, SC (N=46) Once Monthly, SC (
Slide 16: No liver safety signal observed to date
No liver safety signal observed to date Mean liver function tests (ALT, AST, bilirubin) remained stable Alanine aminotransferase (ALT) Aspartate aminotransferase (AST) Bilirubin ABCL635 Phase 2 Clinical Update Q3 2026 COPYRIGHT © ABCELLERA Data are shown as mean ± SEM. The mean upper limit of normal
Slide 17: Phase 2 efficacy data compared to approved small molecule NK3R antagonists
ABCL635 Phase 2 efficacy data are markedly improved compared to approved small molecule NK3R antagonists at week 4 VMS Moderate-to-Severe Frequency and Severity Placebo-Adjusted at Week 4 ABCL635 Phase 2 Clinical Update Q3 2026 Frequency Severity ABCL635 SC 600 mg ABCL635 SC 600 mg Fezolinetant 45 m
Slide 18: Phase 2 data indicate best-in-class potential and support late-stage development
ABCL635 Phase 2 data indicate best-in-class potential and supports advancing to late-stage development EFFICACY ENDPOINT QUALITY OF LIFE ENDPOINT SAFETY ENDPOINT ABCL635 Phase 2 Clinical Update Q3 2026 Significant reduction in both Significant improvement Favorable tolerability VMS frequency and sever
Slide 19: Thank You
COPYRIGHT © ABCELLERA 19 THANK YOU