Insilico Medicine Cayman Topco · HKEX:3696
Insilico Medicine Cayman Topco — H1 2026 Earnings Presentation
63 slides from Insilico Medicine Cayman Topco's earnings presentation, August 2026
Slide 1: 2026 Interim Earnings Call
2026 2026 Interim Interim Earnings Earnings Call Call Aug Aug2026 2026 1
Slide 2: Disclaimer
Disclaimer THIS DOCUMENT OR THE INFORMATION CONTAINED HEREIN IS NOT INTENDED TO AND DOES NOT CONSTITUTE ANY OFFER OR INVITATION, SOLICITATION, COMMITMENT OR ADVERTISEMENT OF ANY OFFER FOR SUBSCRIPTION, PURHCASE OR SALE OF ANY SECURITIES, NOR SHALL ANY PART OF THIS DOCUMENT FORM THE BASIS OF OR BE RE
Slide 3: Today's Agenda
Today’s Agenda 1 2026H1 Highlights 2 Next-Gen Strategy 3 AI Platform 4 Asset Pipeline 5 Business Growth 6 Financial Results 33
Slide 4: 2026H1 Financial & Business Highlights
SECTION 1 2026H1 Financial & Business Highlights
Slide 5: Financial Highlights – 2026H1 Revenue ~4x YoY, Turns Profitable
Financial Highlights – 2026H1 Revenue ~4x YoY, Turns Profitable Adjusted Profit Revenue Gross Margin Net Profit (non-IFRS) $106.3M 90% $35.5M $51.2M （in million USD） 106.3 （in million USD） 35.5 （in million USD） 51.2 Profitable Profitable + 287% 27.5 02 2025H1 2026H1 5 H 1 84 % 2 2025H1 2026H1 20 (19
Slide 6: Business Development – New Collaborations and Sustained Milestone Execution
Business Development – New Collaborations and Sustained Milestone Execution Accumulated Total Contract Value – approximately US$11B Announced Newly Signed Total Contract Value in 2026* – approximately US$7.3B New New Partnerships Hygtia Therapeutics Partnerships Achieved Hygtia Therapeutics Achieved
Slide 7: Pipeline Momentum – New PCC Nomination Fueled Growth & Steady Clinical Progresses
Pipeline Momentum – New PCC Nomination Fueled Growth & Steady Clinical Progresses 33 Total PCC 9 PCC Announced • Undisclosed (Nav1.8) • ISM0676 (GIPR) • ISM6166 (Pan-KRAS) • ISM6200 (NR3C1) • ISM9528 (Target Z) • ISM9077 (Target Y) Nomination • ISM5059 (NLRP3) • ISM0387 (PRMT5) • ISM0900 (Lp(a)) in
Slide 8: Pharma.AI – AI Platform Innovation and New AI Tools Launched
Pharma.AI – AI Platform Innovation and New AI Tools Launched 2026 YTD major transformative advancements PandaOmics Chemistry42 • Launched Science MMAI Gym in Jan 2026 • PandaClaw: conversational AI agent with • Chemistry42+: AI-driven scientific orchestrator • Key achievement: LFM2-2.6B-MMAI, a 9 sp
Slide 9: Next-Gen Strategy
“ o> Lf? 2 SECTION 2 Next-Gen Strategy
Slide 10: Advancing a Rich and Novel Pipeline
Advancing a Rich and Novel Pipeline Therapeutic Pipeline Rich pipeline containing internal 33 20+ 20+ and partnered programs PCC Internal programs Partnered programs NOVELTY Target Novelty Molecule Novelty 6 First-in-class All molecules are 27 Best-in-class highly novel PROGRAM PCC to IND-enabling P
Slide 11: Asset Generation with Pharmaceutical Superintelligence (PSI)
Asset Generation with Pharmaceutical Superintelligence (PSI) PSI generates new assets and programs across three value-creation pathways Internal Discovery • High-novelty targets: Aging Research → Programs → Pipeline-in-a-Program • High-novelty targets in therapeutic areas with significant market pot
Slide 12: How Do We Build a Trillion Dollar Company?
How Do We Build a Trillion Dollar Company? Bet on Longevity Maximum Market Therapeutics (next GLP-1) Potential Drug Drugs to be taken for the entire lifespan Novel non-addictive, non-opioid, for disease prevention and management highly-potent pain drugs (Target Z) Pipeline-in-a-Drug (TNIK, QPCTL, TE
Slide 13: AI Drug Discovery Today
AI Drug Discovery Today Technology Shift Industry Ecosystem Shift Massive transition Anthropic, OpenAI, SpaceX, from proprietary tools Google, Tencent are actively to foundation models pushing into AI drug discovery and harness-enabled with models and harnesses orchestration What is changing Who is
Slide 14: 2026-2027 Objective: Transition to the New Platform Business Model
2026-2027 Objective: Transition to the New Platform Business Model Industry-, category- Insilico and Partner Model Licensing and task-specific SOTA MMAI-Models and Collaborations benchmarks • Identify the key drug discovery • Develop proprietary models • License the best performing and development s
Slide 15: Business Opportunity: Eliminate the Pinocchio Deals via Model Benchmarking
Business Opportunity: Eliminate the ”Pinocchio Deals” via Model Benchmarking Current Problem Insilico Solution Pharma companies with AI budgets Establish structural trust and deliver often partner with AIDD companies on maximum value to pharma customers: specific models (e.g. virtual cell or • Devel
Slide 16: A Portfolio of Task-Specific Benchmarks Creates the Standards Moat
A Portfolio of Task-Specific Benchmarks Creates the Standards Moat Each benchmark should connect a real R&D decision to a measurable task, a model-development program, and a deployable capability. CHEMISTRY 3D + BIOLOGICS BIOLOGY + CLINICAL LONGEVITY URSA / retrosynthesis 3D-Fit TID-Pro / target ID
Slide 17: Pharma.AI Platform: Towards Longevity Singularity
Pharma.AI Platform: Towards Longevity Singularity The Pharma.AI platform splits into three complementary tracks that converge toward a Longevity Singularity Pharmaceutical Superintelligence (PSI) Frontier Task-specific benchmarks → SOTA expert models → Skills & Agents → Licensing & deployment Agenti
Slide 18: Two Customer Classes, Multiple Deployment Routes
Two Customer Classes, Multiple Deployment Routes The same validated capability can be licensed directly to pharma or distributed through frontier AI ecosystems—without surrendering the benchmark and domain-data moat. PHARMA & AI & TECHNOLOGY DEPLOYMENT BIOTECH COMPANIES METHODS What they buy What th
Slide 19: The New AI Strategy: Own the Evaluation-to-Deployment Flywheel
The New AI Strategy: Own the Evaluation-to-Deployment Flywheel Build the benchmarks that market lacks, use them to create and validate SOTA expert models, then distribute those capabilities as governed products. 1 2 3 4 BENCHMARKS SOTA MODELS SKILLS + AGENTS LICENSE + DEPLOY VALUE Define high-value
Slide 20: AI Platform
SECTION 3 AI Platform
Slide 21: World's Leading Generative AI-powered Drug Discovery and Development Platform
World’s Leading Generative AI-powered Drug Discovery and Development Platform with End-to-end Capabilities Pharma.AI Classic PSI Frontier Longevity AI Pharmaceutical Superintelligence Frontier Biology42 Chemistry42 PandaOmics Generative Chemistry Science MMAI Gym Precious1GPT Discover and Prioritize
Slide 22: From Validated Tools to a Foundation Model-Compatible Agentic Layer
From Validated Tools to a Foundation Model-Compatible Agentic Layer Experimentally validated Pharma.AI engines are wrapped so foundation models can call, compose and orchestrate them as MCPs, Skills and Agents Validated Pharma.AI Tools MCPs Skills Agents Validated tool functions from Reusable, packa
Slide 23: Pharma.AI MCPs, Skills and Agents for Drug Discovery & Development
Pharma.AI MCPs, Skills and Agents for Drug Discovery & Development Claude Code Compatible straightaway with user’s IDE (Cursor, Claude Code, Workflow VSCode, etc.) Ask Codex in Slack, Cursor or Claude INTEGRATION Process 200+ tools Cursor MCP Deliver results & plots at your fingertips Slack MS Offic
Slide 24: Science MMAI Gym: Boosting Biological and Chemical Intelligence
Science MMAI Gym: Boosting Biological and Chemical Intelligence of Frontier Foundation Models Foundation Model Training Routine 6 Scientific Domains Chemistry, Biology, Clinical, Any Causal Baseline Foundation Science Benchmarks Performance Aging/Longevity, Materials Science, Models Agriculture 500M
Slide 25: Expanding AI Benchmarking: MMAI Gym Leaderboards and Benchmark-as-a-Service
Expanding AI Benchmarking: MMAI Gym Leaderboards and Benchmark-as-a-Service for Drug Discovery & Development Unified evaluation spanning scientific reasoning, the full drug-discovery pipeline, and specialized domains, powered by proprietary frameworks like TargetBench, LongevityBench, ClinBench, and
Slide 26: Frontier SOTA Models for Pharma
Frontier SOTA Models for Pharma LFM2-2.6B-InsilicoMMAI-Chem-SSRS LFM2-24B-InsilicoMMAI-Chem-MT Insilico’s foundation model-specialist in retrosynthesis Insilico’s foundation model-specialist in multiple drug design tasks LFM2-2.6B-InsilicoMMAI-Chem-SSRS is a LFM2-24B-InsilicoMMAI-Chem-MT is a chemis
Slide 27: Science MMAI Gym Business Flow
Science MMAI Gym Business Flow INSILICO SOLUTION POTENTIAL CUSTOMERS MMAI GYM END USERS OUTPUT Foundation Models MMAI GYM • Models post-trained in Pharmaceutical MMAI Gym Companies • Benchmarking reports Biotech LFM2-2.6B Startups Liquid Foundation Model etc. Research Commercialize Organizations EXI
Slide 28: Asset Pipeline
SECTION 4 Asset Pipeline
Slide 29: Asset Pipeline Discovered from Our Generative AI Platform
33 Asset Pipeline Discovered from Our Generative AI Platform with Multiple Assets Most Advanced Globally Development Therapeutic Pipeline Strategy Stage of Development Target Target- Lead IND- Program Target Indication Identification to-hit Hit-to-lead Optimization enabling Phase 1 Phase 2 Phase 3 P
Slide 30: Rentosertib: Most Clinically Advanced AIDD Candidate Globally
Rentosertib: ISM001- 055 (TNIK Inhibitor) is the Most Clinically Advanced AIDD Candidate Globally TGF-β Stimuli LRP Wnt Frizzled I II TNFR family CELL MEMBRANE ✓ Potent ATP competitive TNIK inhibitor ✓ Binds to TNIK with a high affinity, KD=4.32 nM RENTOSERTIB ✓ Inhibits TNIK and other fibrogenic ki
Slide 31: ISM001-055 Out-performs Other Investigational Agents in Cross Trial Data Comparison
ISM001- 055 (TNIK Inhibitor) Out-performs Other Investigational Agents in Cross Trial Data Comparison Phase II 12 Weeks Data Phase II 24 Weeks Data Phase II 26 Weeks Data Phase III 52 Weeks Data Mean FVC change Nerandomilast Pirfenidone Nintedanib Treprostinil(2) from baseline (ml) TNIK(1) Yifenidon
Slide 32: Phase III Trial GENESIS-IPF-3 Positioned to Confirm Rentosertib's Efficacy
Phase III Trial GENESIS-IPF-3 Positioned to Confirm Rentosertib’s Efficacy and Safety for IPF Patients 52 Weeks Key inclusion • Age ≥40 y n=192 Rentosertib 60 mg po QD • IPF diagnosis Primary endpoint R 3:2 Change from baseline in • FEV1/FVC >0.7 Forced Vital Capacity (FVC) n=128 Placebo po (mL) ove
Slide 33: Garutadustat: Potential First-in-Class Gut-Restricted HIF-PHD Inhibitor for IBD
Garutadustat: Potential First-in-Class Gut-Restricted HIF-PHD Inhibitor for IBD Gut-restricted prolyl hydroxylase (PHD) inhibitor garutadustat stabilizes HIF-1α protein and drives intestinal barrier protection Garutadustat ✓ Orally gut-restricted exposure • High colon/plasma ratio • High distributio
Slide 34: Phase IIa BETHESDA Study of Garutadustat
Phase IIa BETHESDA Study of Garutadustat: Barrier Enhancement Therapy for Healing Enteric Structural Defects & Anomalies • Garutadustat is a potential first-in-class gut-restricted HIF-PHD inhibitor for IBD • Completed Phase 1 trial in Australia (N=76) and China (N=48) • Phase IIa trial in China st
Slide 35: ISM8969 Brain-Penetrant NLRP3 Inhibitor Broad Therapeutic Potential
ISM8969 (Brain-Penetrant NLRP3 Inhibitor ) has Broad Therapeutic Potential Against Neurologic, Metabolic, Cardiovascular and Ocular Diseases Step 1: Priming Step 2: Activation PAMPS, DAMPS NLRP3i TNFR IL1R Toll-like Receptor NLRP3 ✓ NLRP3 inflammasomes are activated by various internal and external
Slide 36: ISM6331: Potential Best-in-Class Pan-TEAD Inhibitor
ISM6331: Potential Best-in-Class Pan-TEAD Inhibitor Targeting the Hippo Pathway and Drug Resistance in Solid Tumors ISM6331: Emerging Global Phase 1 Monotherapy Data Broad TEAD Transcriptional Optimized Favorable Rapid & Deep Inhibition PK Profile Safety Profile Efficacy ✓ Favorable T1/2 ~21h ✓ Six
Slide 37: ISM6331: Phase 1/2 First-in-Human Study
ISM6331: Phase 1/2 First-in-Human Study Phase 1: Dose Escalation (Current) Phase 2a: Randomized Dose Optimization • Advanced or metastatic mesothelioma or other solid tumors • Advanced or metastatic mesothelioma regardless of Hippo regardless of Hippo pathway dysregulation pathway dysregulation QD/2
Slide 38: ISM3412: Potential Best-in-Class MAT2A Inhibitor Targeting MTAP-/- Tumors
ISM3412: Potential Best-in-Class MAT2A Inhibitor Targeting MATP-/- Tumors ISM3412: Highly Selective, Potent MAT2A Inhibitor • CNS Penetration: high brain penetration with robust intracranial preclinical efficacy. • Phase 1 Safety: well-tolerated in ongoing study across 5 cohorts • Clinical Proof of
Slide 39: ISM3412: Phase I First-in-Human Study in MTAP-Deleted Tumors
ISM3412: Phase I First-in-Human Study in MTAP-Deleted Tumors • Patient Population: locally advanced/metastatic MTAP-/- solid tumors • Dosing Schedule: QD in 28-day cycles Key Endpoints Monotherapy Dose Escalation Primary Endpoints: Safety, Tolerability, RP2D. 60 mg 75 mg Secondary Endpoints: PK, pre
Slide 40: ISM0387 and ISM6166 Demonstrate Strong Single-Agent Activity and Combination Potential
ISM0387 and ISM6166 Demonstrate Strong Single-Agent Activity and Combination Potential ISM6166 ISM0387 PRMT5i & KRASi Combination An Orally Available A Potent Brain-Penetrant Drove Deep and Complete Pan-KRAS (ON/OFF) Inhibitor MTA-Cooperative PRMT5 Inhibitor Tumor Regression • Target KRAS alteration
Slide 41: Comprehensive Oncology Portfolio with Extensive Combination Opportunities
Insilico Medicine’s Comprehensive Oncology Portfolio with Extensive Combination Opportunities KRAS-Centered Combination Therapy Strategy Synergistic effect CBLBi (ISM3830) and RASi (RMC6326) PRMT5 + KRAS KRAS + TEAD CT26 mKras G12C Syngeneic Model Deepen Response & Block Adaptive Escape & Colon Canc
Slide 42: Overview of the Pain Market
Overview of the Pain Market • The projected market size for pain is ~$103 billion in 2032, with NSAIDs taking the top share • Non-opioid analgesics are in unmet need for chronic pain to avoid risk of abuse, particularly in North America • Over 20% of world population is affected by pain, especially
Slide 43: Target Z: AI-powered Target Identification for Pain
Target Z: AI-powered Target Identification for Pain Cross Reference Target Z for Pain 43
Slide 44: ISM9528: Target Validation by Knock-out and Tool Molecule
ISM9528: Target Validation by Knock-out and Tool Molecule Zi_tool Target Z knock-out Mouse incisional pain model Acetic acid induced writhing model Incisional pain model in mice PWT Writhing test with acetic acid in mice Mechanical pain threshold (g) 1.0 *** *** *** *** *** 80 Model Number of writhe
Slide 45: ISM9528: AI-enabled Compound Generation and Optimization
ISM9528: AI-enabled Compound Generation and Optimization 01 Structure input 02 Conformation model 03 Generation & selection Protein model construction Multiple Generative based on diffusion models and conformation Chemistry homology information complex model Compound/Scaffold generation Model On tar
Slide 46: In Vivo Efficacy of ISM9528 in Preclinical Pain Models
In Vivo Efficacy of ISM9528 in Preclinical Pain Models via oral or i.v routes Novel target Z inhibitor ✓ Dose-dependent analgesic effect ISM9528 demonstrated: ✓ Rapid onset and better efficacy than pregabalin and VX-548 via oral administration ✓ Long-lasting effect than morphine via intravenous admi
Slide 47: Discovery Path of First-in-Class Molecule ISM9528 for Pain
Discovery Path of First-in-Class Molecule ISM9528 for Pain • A FIC non-opioid analgesic • A favorable safety profile with Target Z inhibitor ISM9528 a MoS of >40X in rat 28-day DRF and >50X in dog 28-day DRF. Superior in vivo efficacy in • IND submission expected in Q2 2027 multiple preclinical pain
Slide 48: Massive Market Opportunity for Ophthalmology
Massive Market Opportunity for Ophthalmology • Ophthalmology remains one of the fastest-growing therapeutic areas, with the global market projected to approach $100 billion by 2035. • Chronic inflammatory and retinal diseases account for a substantial disease burden and represent large market opport
Slide 49: Target Y: AI-powered Target Identification for Ocular Diseases
Target Y: AI-powered Target Identification for Ocular Diseases Cross Reference Target Y for Ocular diseases 49
Slide 50: AI-Driven Drug Discovery of ISM9077
AI-Driven Drug Discovery of ISM9077 Structural insight Iterate Multiple internal Data-driven GENERATIVE AI + PHYSICS structure-led hypotheses design cycles TARGET-SPECIFIC ACTIVITY MODEL Predict molecular activity for rapid virtual screening Molecular data Curated activity and AI-GUIDED OCULAR DELIV
Slide 51: ISM9077: Excellent Efficacy Across Ocular Disease Models
ISM9077: Excellent Efficacy in Both Prophylactic and Therapeutic Studies Across Ocular Disease Models Mouse model (ERG) Monkey retinal GA growth Approved drugs V.S. ISM9077 B-wave Amplitude (μV) 600 9x Vehicle p=0.06 500 **** Therapeutic ISM9077 * 400 2.9x 3.2x Prophylactic ISM9077 Target Y 200 ***
Slide 52: ISM9077: A Potential First-in-Class Therapy with Oral and Eye-Drop Delivery
ISM9077: A Potential First-in-Class Therapy with Oral and Eye-Drop Delivery for Ocular and I&I Diseases Favorable DMPK profile Excellent in vivo efficacy Exceptional safety profile Good solubility and excellent Promising efficacy in several 28-day DRF: permeability. Low clearance and disease models
Slide 53: Target Y – First-in-Class Program as Next Generation One Drug Pipeline
Target Y – First-in-Class Program as Next Generation “One Drug Pipeline” Significant dose- Ameliorated in dependent efficacy histopathology and in mice Parkinson’s vision acuity via oral disease models dosing in dry AMD model Parkinson Dry AMD Target Y In MASH mice model, Target Y inhibitor alone o
Slide 54: Business Growth
o>? _«% »p SECTION 5 Business Growth
Slide 55: Multi-Pronged Revenue Generating Business Model for Long-term Growth
Multi-Pronged Revenue Generating Business Model for Long-term Growth Drug Discovery and Software Other Discovery Related Pipeline Development Solutions to Non-pharma Sectors • 16 out-licensing or collaboration deals with total • Software solution revenue increased by 33.65% in Utilize Pharma.AI to d
Slide 56: Strong BD Momentum with Upfront and Milestones Payments
Strong BD Momentum with Upfront and Milestones Payments Continuously Realized ~$11B Total contract value + Additional Royalties Co-development Out-licensing / >$308M Revenue ~$10.6B realized by 2026/6/30 Potential revenue in Hygtia Therapeutics the future and more… ✓ XL309/ISM3091 (USP1) received $8
Slide 57: 6 Out-Licensing Deals with Top Pharma and Biotech Since 2021
6 Out-Licensing Deals with Top Pharma and Biotech Since 2021 2023 2023 2024 USP1 KAT6 KIF18A Out-licensing Out-licensing Out-licensing Upfront payment $80 million Upfront payment $12 million Upfront payment $20 million plus milestones plus milestones plus milestones Total deal value close to Total d
Slide 58: 10 R&D Collaboration with Top Pharma and Biotech Since 2021
10 R&D Collaboration with Top Pharma and Biotech Since 2021 2021 2022 2025 2026 2026 QPCTL Co-development Up to 2 + 4 Research Collaboration Research Collaboration Research Collaboration & 4 Collaboration Targets Collaboration Targets Upfront and near-term R&D Upfront of $13 million Upfront plus tar
Slide 59: Generative AI for Science: Expanded into Multiple Industries
Generative AI for Science: Expanded into Multiple Industries with Generalist AI for Chemistry and Biology Current Pharma Business Drugs in Drug Biology Chemistry Clinical Trials Discovery Platform Platform Non-Pharma Verticals CO2 Capture New Materials, Fuels, Nutraceuticals, AI Research Paper Writi
Slide 60: Financial Results
SECTION 6 Financial Results
Slide 61: Income Statement and Cash Position
Income Statement and Cash Position Six months ended June 30, 2026 2025 USD'000 USD'000 Revenue increased by US$78.8 million or 287.2% to US$106.3 million in (Unaudited) (Audited) 2026H1, primarily attributable to the increase in revenue from drug discovery and Revenue 106,303 27,456 pipeline develop
Slide 62: Net Profit Turned Positive, Supported by Strong Cash Flow
Net Profit Turned Positive, Supported by Strong Cash Flow Adjusted Profit (Non- Net Cash from (used in) Cash and Cash IFRS) Operating Activities Management Reserves （in million USD） （in million USD） （in million USD） 51.2 79.0 584.8 447.3 2024 2025 2026 1H (22.7) 2025H1 2026H1 (43.8) 2025 2026H1 (36.
Slide 63: 2026 Key Milestones Across Both AI Platform and Therapeutic Pipeline
2026 Key Milestones Across Both AI Platform and Therapeutic Pipeline 2026H1 2026H2 ✓ Rentosertib (Inhalable) IND approval ✓ ISM8969 (NLRP3) IND approval for Phase I trial in China for the treatment of IPF in China ✓ ISM6331 (TEAD) FDA Fast Track Designation ✓ ISM8969 (NLRP3) FPI of Phase I trial Dev
Insilico Medicine Cayman TopCo — H1 2026 Earnings Presentation on 6ix