Cellbxhealth Plc · LSE:CLBX
Cellbxhealth — FY2025 Earnings Presentation
29 slides from Cellbxhealth's earnings presentation, June 2026
Slide 1: Enabling precision medicine with a simple blood test
CelLBxHealth plc (AIM: CLBX) Enabling precision medicine with a simple blood test Results for the year ended 31 December 2025 June 2026 © CelLBxHealth plc 2026
Slide 2: Forward-looking statements & disclaimer
Forward-looking statements & disclaimer This presentation has been prepared by CelLBxHealth plc (the "Company") solely for information purposes. It does not constitute or form part of, and should not be construed as, an offer to sell or issue, or a solicitation of any offer to purchase, subscribe fo
Slide 3: Investment highlights – why CelLBxHealth, why now
Investment highlights – why CelLBxHealth, why now Differentiated where ctDNA falls World leading live-cell platform Three commercial pillars short Parsortix® is the first system for Live cells enable functional, Instruments & consumables, pharma capturing live circulating tumour cells morphologic an
Slide 4: CelLBxHealth – delivering against a new strategy
CelLBxHealth – delivering against a new strategy Consolidated Focused team Capabilities Facilities Footprint Isolation and analysis of cancer cells Combined lab space of >6,000 sq. ft New leadership team delivering from blood (CTCs) ISO 13485 certified against revised strategy 50% reduction to singl
Slide 5: Opportunity - Driving the next generation of precision cancer diagnostics
Opportunity - Driving the next generation of precision cancer diagnostics Market Opportunity • $0.5bn CTC market, projected to reach $1.0bn by 2031 (CAGR 10.4%) Clinical Need Now • Independent expert consensus confirms clinical relevance of CTCs and identifies the Parsortix platform as leading next-
Slide 6: Cancer testing paradigm today leaves biological blind spots
Cancer testing paradigm today leaves biological blind spots Tissue is invasive and restrictive 11 Why this matters Tumours evolve under treatment pressure, but biopsies cannot be repeated at the cadence clinicians need — and many lesions are inaccessible. "You cannot understand a living tumour from
Slide 7: Parsortix — live CTC capture from a simple blood draw
Parsortix — live CTC capture from a simple blood draw Downstream analyses · IHC / IF · DNA-seq · RNA-seq · Single-cell · Functional studies · PDX models 1. Blood draw 2. Parsortix processing 3. Live CTCs captured · AI imaging Standard venous sample — no Marker-independent capture by Intact cells & C
Slide 8: Independent expert consensus confirms importance of CTCs
Independent expert consensus confirms importance of CTCs • Expert consensus predicts integration of CTC testing into routine clinical practice within five years • CTCs provide distinct and impactful information that is not captured by circulating tumour DNA (ctDNA) • 40% of the expert panel identifi
Slide 9: Platform validated by the field — and by the data
Platform validated by the field — and by the data 63 Active sites 250,000+ samples processed to date with 102 Parsortix platforms Platform • ISO 13485:2016 120+ peer-reviewed publications across 24 cancer types excellence • • 27 patents with coverage to 2034 SOC 2 Type 2 certification Selected valid
Slide 10: Application pipeline across the cancer-care continuum
Application pipeline across the cancer-care continuum Application Indication Stage Channel Value CTC enumeration & genomic Revenue + Clinical mBC Validation studies LDT + Pharma profiling evidence generation Breast, prostate, Data towards CTC-based MRD Research LDT lung Reimbursement Top-10 pharma D
Slide 11: CTCs do what ctDNA cannot
CTCs do what ctDNA cannot ctDNA (cfDNA) Parsortix CTC No tissue available Tissue-free testing sacrifices sensitivity Tumour-specific insight from blood alone Low-TMB / low-shedder cancers High false-negative rate Captures even rare cells CTC clusters (metastatic driver) Invisible Captured intact, cl
Slide 12: $1 billion CTC market opportunity by 2031
$1 billion CTC market opportunity by 2031 Three commercial pillars, one platform • Instruments and cassettes • Reagents • Pharma services Source: ReportPrime | Global CTC Liquid Biopsy Market 2025–2031 © CelLBxHealth plc 2026 12
Slide 13: Anchor partnerships de-risking 2026-2027
Anchor partnerships de-risking 2026-2027 Top-10 global pharma — MSA Large US private healthcare provider AstraZeneca Master Services Agreement signed covering biomarker AdventHealth purchased the Parsortix platform and now deploying across development work across their oncology pipeline. Projects wi
Slide 14: NHS lung cancer programme
NHS lung cancer programme A specific UK opportunity that doubles as a global template. Lung cancer is the largest oncology mortality burden in the UK, and a Projected NHS impact category where ctDNA has limitations. CelLBxHealth's Parsortix-enabled approach is positioned to enable reflexing patients
Slide 15: Re-baselined, funded, and on a path to growth
Re-baselined, funded, and on a path to growth £4.3 m £6.6 m+ £2.1 m H1 2027 cash at 31 March 2026 annualised cost savings FY26 revenue guidance funded into Plan assumptions REVENUE (£M) • Right-sized cost base, refocused US commercial leadership • Conversion of contracted revenues + qualified pipeli
Slide 16: Capital & funding — multiple levers available
Capital & funding — multiple levers available 1 Operating cash from three pillars 2 Commercial milestones Instrument & consumable sales, pharma services revenue and Contracted milestones tied to pharma MSAs and partnership laboratory-developed test contracts. development. 3 Licensing & collaboration
Slide 17: Catalysts to FY27
Catalysts to FY27 H1 2026 H1 2027 H2 2027 MSA signed NHS lung programme data Material step-up in pharma read-out and next stage of services and consumables regulatory development revenue H1 2026 H1 2027 US clinical studies with large healthcare provider Expansion of multiple pharma AdventHealth init
Slide 18: Management team and board built for the next stage
Management team and board built for the next stage Board - NEDs Jan Groen, PhD Peter Collins Executive Chairman CEO Former CEO of MDxHealth; 25+ years' leadership 20 + years Executive leadership in Precision across European and US molecular diagnostics, Medicine from CDx, LBx, to MRD leading to 3 sc
Slide 19: Financial results for the year ended December 2025
Financial results for the year ended 31 December 2025 © CelLBxHealth plc 2026 19
Slide 20: Financial highlights
Financial highlights • Total revenue of £1.4 million (2024: £2.9 million) Revenue comprised of: o product and services revenue of £1.1 million (2024: £1.3 million) o pharma services revenue of £0.3 million (2024: £1.6 million) Gross profit margins held at 62% (2024: 62%) Operating loss of £19.2
Slide 21: Financial reset
Financial reset A lean and focused CelLBxHealth, positioned for long-term, independent growth Metric 2025 2026E 2027E Annual Cash Burn £13.1m £5.5m £2.9m Gross Margin 62% 65% 70% EBITDA (£13.0m) (£3.9m) (£2.7m) positive from late 2028 Headcount 108 c. 35 c. 35 • Operational restructuring completed,
Slide 22: Operational highlights
Operational highlights Business strategically repositioned from a research-focused organisation to a commercially driven, partner- led and capital-efficient operating model Corporate rebrand to CelLBxHealth completed to reflect the Company’s revised strategic direction New leadership and gover
Slide 23: Milestones and Outlook
Milestones and Outlook Commercial milestones – 18 months to June 2027 Product sales • Targeting contracts with four CROs and clinical labs • Two technology transfer agreements to US clinical labs • Successful bridging studies across multiple tissue-based tests Outlook Laboratory Services • Focus on
Slide 24: A focused, Leading CTC platform with a credible path to scale
INVESTMENT THESIS A focused, Leading CTC platform with a credible path to scale Real differentiation Validated at scale The leading CTC capture platform — addressing what ctDNA 63 active sites with 102 instruments, 250,000+ samples structurally cannot. processed, 120+ peer-reviewed publications — th
Slide 25: Thank you
Get in Touch CelLBxHealth plc AIM: CLBX Peter Collins, CEO p.collins@cellbxhealth.com Thank you Dr. Jan Groen, Executive Chairman j.groen@cellbxhealth.com We look forward to taking your questions. Investor enquiries CelLBxHealth is the leader in CTC — turning a routine blood draw investor@cellbxheal
Slide 26: Appendix
Appendix © CelLBxHealth plc 2026 26
Slide 27: CTC capture and harvest using the Parsortix platform
CTC capture and harvest using the Parsortix platform Biomarker-independent enrichment of CTCs based on: • Cell Size • Physical properties (deformability) Patented separation cassette and schematic Circulating tumour cell cluster of 90 CTCs 27
Slide 28: The Parsortix platform in use
The Parsortix platform in use Animation showing operation of Parsortix Patient blood flowing in Parsortix cassette cassette https://www.youtube.com/watch?v=MJNkr81k2Nw https://www.youtube.com/watch?v=6mLcVIoJ4Zk&t=6s © CelLBxHealth plc 2026 28
Slide 29: Platform well differentiated from competitors
Platform well differentiated from competitors The Parsortix platform provides marker-independent, live capture of CTCs suitable for multiple downstream analyses Marker independent Proven in many types of cancer (>10 types) Simple process Easily harvest cells for downstream an