Tectonic Therapeutic, Inc. · NASDAQ:TECX
Tectonic Therapeutic — Investor Presentation (August 2026)
56 slides from Tectonic Therapeutic's investor presentation, Aug 6, 2026
Slide 1: Innovating GPCR-Targeted Therapies to Reach Large Untapped Market Opportunities
Innovating GPCR-Targeted Therapies to Reach Large Untapped Market Opportunities AUGUST 2026
Slide 2: Disclaimer
2 DISCLAIMER Statements contained in this presentation regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "anticipates," "believes," "expects," "intends," “plans,” “pot
Slide 3: Tectonic Tx: GPCR-Targeted Therapies for High-Value Opportunities
3 Tectonic Tx: GPCR-Targeted Therapies for High-Value Opportunities Clinical-Stage TECX focused on discovery & development of GPCR-target biologics with significant unmet need Biotech • Founded in 2019 by Tim Springer and Andrew Kruse Tenured Team Executive team with numerous accomplishments, result
Slide 4: This Accomplished Team Has Delivered for Patients and Investors
4 This Accomplished Team Has Delivered for Patients and Investors Alise Daniel Peter Anthony Marcella Marc Reicin, M.D. Lochner McNamara, Ph.D. Muslin, M.D. Ruddy, M.D. Schwabish, Ph.D. CEO, Director CFO CSO CDO CMO CBO FOUNDED MULTIPLE GPCR EXPERT, SUCCESSFUL COMPANIES FORBES ”30 under 30” Timothy
Slide 5: Biologics Offer Advantages Over Small Molecules in Targeting GPCRs
5 Biologics Offer Advantages Over Small Molecules in Targeting GPCRs, Hold Potential to Transform Therapeutic Landscape Of the approved drugs that target GPCRs only three are antibodies >470 ~12% >18%* remain When difficult to target with small molecule, biologic captures complexity approved drugs a
Slide 6: Unique Pipeline of GPCR-Targeted Biologics
6 Unique Pipeline of GPCR-Targeted Biologics PROGRAM / INDICATION DISCOVERY IND ENABLING PHASE 1 PHASE 2 ANTICIPATED MILESTONES GROUP 2 PH-HFpEF • Ongoing APEX Phase 2 trial in PH- Potential Best-in-Class TX45 HFpEF expect topline results early TX45 (RXFP1 Agonist) Q1’27 GROUP 3 PH-ILD New Relaxin I
Slide 7: TX45: Long-acting relaxin to address large, unmet need in Group 2 PH
7 TX45: Long-acting relaxin to address large, unmet need in Group 2 PH RXFP1 agonist with differentiated profile
Slide 8: TX45: Potential Best-in-class Treatment for Group 2 PH-HFpEF
8 TX45: Potential Best-in-class Treatment for Group 2 PH-HFpEF • Group 2 PH-HFpEF has no approved therapy High unmet need • >1M+ patients in US* and high 5-year mortality • Pulmonary and systemic vasodilator; improves cardiac relaxation during diastole Mechanism appears ideal to • Reversal of fibros
Slide 9: TX45 Initial Indication: Group 2 Pulmonary Hypertension (PH)
9 TX45 Initial Indication: Group 2 Pulmonary Hypertension (PH) Pulmonary hypertension consists of 5 distinct diseases, or groups • Idiopathic, hereditary or drug-induced Group 1 • Connective tissue disease-associated PAH • Congenital heart disease-associated Group 2 PH is chronic, progressive and th
Slide 10: Initial Focus on Group 2 PH due to Heart Failure with Preserved EF
10 Initial Focus on Group 2 PH due to Heart Failure with Preserved EF (PH-HFpEF), Enriched for CpcPH Patients Clinical program designed to enable evaluation of efficacy in overall population and CpcPH IpcPH (Isolated, post capillary PH) Heart Increased Left Ventricle Filling Pressures HFpEF Normal
Slide 11: Hemodynamic and Anti-fibrotic Properties of Relaxin Demonstrated by its Role in Pregnancy
11 Hemodynamic and Anti-fibrotic Properties of Relaxin Demonstrated by its Role in Pregnancy Pharmacology Facilitates Gestation AGONIST PULMONARY AND Natural ligand of SYSTEMIC VASODILATOR RXFP1 receptor Increases cardiac output to accommodate the Relaxin-2 increased demand from No RXFP1 internaliza
Slide 12: Relaxin Addresses Multiple Organ System Pathologies in PH-HFpEF
12 Relaxin Addresses Multiple Organ System Pathologies in PH-HFpEF Phase 1b data was anticipated to capture the acute impact of vasodilation and LV relaxation Vasodilation RV / LV* Pulmonary & Systemic Afterload NO Endothelin-1 LV Relaxin Improved LV Diastolic agonist Relaxation Function
Slide 13: TX45 Group 2 PH Development Program Overview
13 TX45 Group 2 PH Development Program Overview 2024 2025 2026 Phase 1a Healthy Toplined Sept ’24 Safety, tolerability, PK/PD Volunteers Safety, PK, PD (Renal Blood Flow) Group 2 PH Phase 1b with HFpEF RHC study to establish hemodynamic proof of concept Group 2 PH - Part A (PH-HFpEF); Part B (PH-HFr
Slide 14: Phase 1a Clinical Study
14 Phase 1a Clinical Study Benefits of the Study Design Robust Design of TX45 SAD Study • Exposure-response model developed with over 200 data points • Overcomes impact of outlier values on mean values based on 6 patients per dose cohort • Enables more robust dataset with which to choose doses for P
Slide 15: Robust Human-Exposure Model Allows for Phase 2 Dose Selection
15 Robust Human-Exposure Model Allows for Phase 2 Dose Selection Phase 2 Dose Selection TX45-RPF Emax model • Used preclinical models to extrapolate human dose: – Rat renal blood flow model (PD marker), rat PH MCT* model (dose for maximal efficacy), and differences in rat vs. human potency – The tro
Slide 16: TX45 Group 2 PH Development Program Overview
16 TX45 Group 2 PH Development Program Overview 2024 2025 2026 Phase 1a Healthy Safety, tolerability, PK/PD Volunteers Group 2 PH Interim Toplined Jan ‘25 (Part A) Phase 1b with HFpEF PCWP, PVR in CpcPH, explored TPR + RHC study to establish hemodynamic additional HD endpoints proof of concept Group
Slide 17: Phase 1b Clinical Trial Design: A Single Dose, Open-Label, Acute Hemodynamic Trial
17 Phase 1b Clinical Trial Design: A Single Dose, Open-Label, Acute Hemodynamic Trial in PH-HFpEF (Part A, n=19) and in PH-HFrEF (Part B, n=14) TX45 IV Dose PH-HFpEF PH-HFrEF 0.3 mg/kg n=3 n=1 1 mg/kg n=7 n=1 3 mg/kg n=9 n = 12 Days 2, 15, 29: ECHO Days 8, 43: Safety Screening Right Heart Catheter (
Slide 18: Key Hemodynamic Measures
18 Key Hemodynamic Measures Goal: Treatment for PH due to heart failure needs to both increase LV function and improve pulmonary vascular and right ventricular component of the disease Hemodynamic Definition Significance PCWP • Measure of left atrial pressure • Key marker of left ventricular (LV) fu
Slide 19: Phase 1b Part A & B: Baseline Characteristics and Concomitant Medications
19 Phase 1b Part A & B: Baseline Characteristics and Concomitant Medications Consistent with Target Population; Enriched for CpcPH Baseline Characteristics PH-HFpEF PH-HFrEF Key Concomitant PH-HFpEF PH-HFrEF (Part A) (Part B) Medications (Part A) (Part B) LVEF (%); [mean (SD)]* 49.0 (7.2) 34.1 (6.6)
Slide 20: Phase 1b Part A & B: Baseline Hemodynamics Consistent with Group 2 PH
20 Phase 1b Part A & B: Baseline Hemodynamics Consistent with Group 2 PH Generally Accepted PH-HFpEF (Part A) Baseline PH-HFrEF (Part B) Baseline Parameter Normal Ranges Mean (SD) Mean (SD) (At Rest) Pulmonary Capillary Wedge 4-12 17.2 (3.6) 21.1 (5.2) Pressure (mm Hg) Pulmonary Vascular Resistance
Slide 21: TX45 Was Well-Tolerated After Single Dose in Patients in Part A & B
21 TX45 Was Well-Tolerated After Single Dose in Patients in Part A & B • No serious or severe adverse events, discontinuations, infusion related reactions or drug related adverse events • Transient asymptomatic drop of sBP (5-11 mm Hg) on day 1 • No signs or symptoms of congestion PH-HFpEF (Part A)
Slide 22: PH-HFpEF (Part A): TX45 Improved Left Heart Function and Pulmonary Hemodynamics
22 PH-HFpEF (Part A): TX45 Improved Left Heart Function and Pulmonary Hemodynamics in PH-HFpEF Patients CFB* Average % CFB* Hemodynamic Endpoints Mean [95% CI] Mean [95% CI] Key Hemodynamic Endpoints (n = 19) PCWP in all participants -3.2 [-4.3 to -2.1] mm Hg -19.0% [-26.1% to -11.9%] PVR in Cpc
Slide 23: PH-HFrEF (Part B): TX45 Improved Left Heart Function and Pulmonary Hemodynamics
23 PH-HFrEF (Part B): TX45 Improved Left Heart Function and Pulmonary Hemodynamics in PH-HFrEF Patients CFB* % CFB* Hemodynamic Endpoints Mean [95% CI] Mean [95% CI] Key Hemodynamic Endpoints (n = 14) PCWP in all participants -6.4 [-8.6 to -4.2] mm Hg -29.2% [-36.0% to -22.4%] PVR in CpcPH (PVR
Slide 24: PH-HFpEF (Part A): Echo Results Demonstrated Sustained Improvement
24 PH-HFpEF (Part A): Echo Results Demonstrated Sustained Improvement in Markers of LV and RV Function, and Pulmonary Hemodynamics Data Presented as Mean ± SD for All Subjects (n=19 overall) LVEF (n=19) TAPSE/SPAP (n=16) RVFAC (n=18) CFB Mean [95% CI] +3.4 [+1.2, +5.6] +0.06 [+0.01, +0.11] +6.7 [+3.
Slide 25: PH-HFrEF (Part B): Echo Results Demonstrated Sustained Improvement
25 PH-HFrEF (Part B): Echo Results Demonstrated Sustained Improvement in Markers of LV and RV Function, and Pulmonary Hemodynamics Data Presented as Mean ± SD for All Subjects (n = 14 overall) LVEF (n=14) TAPSE/SPAP (n=14) RVFAC (n=14) CFB Mean [95% CI] +6.2 [+2.7 to +9.7] +0.10 [+0.03 to +0.17] +5.
Slide 26: Summary and Implications: TX45 Improves Cardiac and Pulmonary Hemodynamics
26 Summary and Implications: TX45 Improves Cardiac and Pulmonary Hemodynamics in both PH-HFrEF and PH-HFpEF Patients Well-Tolerated: • TX45 was well-tolerated in both patient populations Hemodynamic • TX45 administration associated with hemodynamic improvements in PCWP, CO, PVR, TPR, Improvements an
Slide 27: APEX Phase 2 Efficacy Clinical Trial Design for TX45
27 APEX Phase 2 Efficacy Clinical Trial Design for TX45 Clinical trial in subjects with PH-HFpEF enriched for subjects with CpcPH subgroup • Global multicenter, double-blind, randomized, placebo-controlled proof-of-concept clinical trial to evaluate the efficacy of TX45 Double-blind Sub Q 24 Week Tr
Slide 28: Pharma Has Interest In The Relaxin MoA and Group 2 PH Patients
Pharma Has Interest In The Relaxin MoA and Group 2 PH Patients 28 Tectonic has potential best-in-class Relaxin molecule Half Life Patient Company Format Formulation Dosing* Primary Endpoint Est. Results in NHV Population Fc-Relaxin Group 2 PH / Ph 2 – Early ∆PVR (in PVR>3 Fusion Sub Q 14-20 days Q4
Slide 29: TX45 PH-ILD Program
29 TX45 PH-ILD Program Potential differentiated treatment of Pulmonary Hypertension associated with Interstitial Lung Disease (PH-ILD)
Slide 30: TX45: Overview and Rationale in PH-ILD (WHO Group 3 PH)
30 TX45: Overview and Rationale in PH-ILD (WHO Group 3 PH) TX45 Phase 2 PH-ILD Trial Open for Screening • PH-ILD is a subgroup of Group 3 Pulmonary Hypertension (PH) • PH leads to worsening of both exercise capacity and oxygenation with exertion PH-ILD Overview • Diagnosed by right heart catheteriza
Slide 31: Strong Rationale for TX45 in PH-ILD
31 Strong Rationale for TX45 in PH-ILD -Pulmonary Vasodilation, Anti-inflammatory and Anti-Fibrotic Effects of Relaxin: -Potential for Increased Exercise Capacity and Disease Modification CHARACTERISTICS OF PH-ILD ANTICIPATED RELAXIN EFFECTS Pulmonary vascular constriction due to underlying Pulmonar
Slide 32: TX45 Demonstrates Clinical Hemodynamic Changes and Preclinical Effects on Histopathology
32 TX45 Demonstrates Clinical Hemodynamic Changes and Preclinical Effects on Histopathology Important for PH-ILD TX45 improves abnormal hemodynamics in PH- HFpEF patients also seen in PH-ILD patients RV Collagen Deposition Serum TIMP-1 Levels Fibronectin Expression (Lung) Arterial Muscularization in
Slide 33: Why Have Inhaled Therapies Succeeded in PH-ILD And Systemic Compounds Failed?
33 Why Have Inhaled Therapies Succeeded in PH-ILD And Systemic Pulmonary Vasodilatory Compounds Have Failed? • Success of inhaled treprostinil treatments: Targeted pulmonary hemodynamic effects while avoiding prostacyclin-specific systemic side effects – Clinical trials in focused population of conf
Slide 34: TX45 Phase 2 PH-ILD Study: Overview of Design and Rationale
34 TX45 Phase 2 PH-ILD Study: Overview of Design and Rationale TX45 Open Label, Repeat Dose, Rationale for Approach 16 Week, Phase 2 Trial • Size: • Potential improvement in efficacy endpoints • Up to 25 patients with PH-ILD over 16 weeks in open-label trial should • Baseline right heart catheteriza
Slide 35: TX45: A Differentiated Therapy for PH-ILD
35 TX45: A Differentiated Therapy for PH-ILD Offering Potential Efficacy, Safety and Convenience Company Format Administration Dosing MOA Clinical Stage Primary Endpoint Fc-Relaxin Fusion Phase 2 open for ∆PVR at Week 16 Sub-Q 4 Weeks Relaxin (TX45) screening Inhaled Tyvaso 4x Daily (Treprostinil) (
Slide 36: Summary: Rationale for TX45 in PH-ILD
36 Summary: Rationale for TX45 to Bring a Differentiated Treatment Approach to Address Unmet Needs in PH-ILD Relevant Expand Disease Burden Preclinical / Phase 2 TX45 Potential Clinical Data PH-ILD is a Preclinical PH TX45 offers a Phase 2 study open disease with high data and clinical potential sys
Slide 37: TX2100: APJ Antagonist
37 TX2100: APJ Antagonist Potential first-in-class and indication opportunity for Hereditary Hemorrhagic Telangiectasia (HHT), the 2nd most common genetic bleeding disorder
Slide 38: TX2100 for Hereditary Hemorrhagic Telangiectasia (HHT)
38 TX2100 for Hereditary Hemorrhagic Telangiectasia (HHT) • HHT is a genetic disorder of dysregulated angiogenesis leading to recurrent bleeding, Blockbuster anemia, arteriovenous malformations (AVMs) and reduced life expectancy with no Potential approved therapies Orphan Indication • Estimated ~75K
Slide 39: HHT: Multisystem Hereditary Bleeding Disorder
39 HHT: Multisystem Hereditary Bleeding Disorder with Numerous Morbid and Potentially Fatal Manifestations Second most common inherited bleeding disorder • Caused by mutations in the BMP9/ALK1 pathway • High degree of phenotypic variability (15-20% severe) AVMs • Increased mortality risk Telangiecta
Slide 40: Anti-Angiogenic Therapies are Effective, but On-Target Toxicities Limit Long-Term Use
40 Anti-Angiogenic Therapies are Effective in Translational Models and in the Clinic, but On-Target Toxicities Limit Long-Term Use Response to drug in mouse Anti-VEGF improves hemoglobin Limited Tolerability of Currently models predict clinical efficacy in severe HHT anemia4 Used Anti-Angiogenic Dru
Slide 41: APJ Antagonist: A More Selective & Tolerable Anti-Angiogenic Agent
41 APJ Antagonist: A More Selective & Tolerable Anti-Angiogenic Agent VEGFR antagonism: APJ antagonism: Proven efficacy but poor Potential for durable efficacy long-term safety without VEGFR toxicity VEGFR and AKT signaling broadly APJ is endothelial cell enriched Selectivity required across adult t
Slide 42: TX2100 is a Highly Potent and Selective Human APJ Antagonist
42 TX2100 is a Highly Potent and Selective Human APJ Antagonist Low-nanomolar potency at human APJ with >1,000-fold selectivity vs. related GPCRs TX2100 TX2100 blocks cAMP signaling with nanomolar potency VHH-Fc fusion • Highly specific, limits off-target toxicities • Long half-life, less frequent d
Slide 43: APJ Antagonism Shows Robust and Durable Preclinical Activity in Two HHT Models
43 APJ Antagonism1 Shows Robust and Durable Preclinical Activity in Two Complementary HHT Models Preclinical result of APJ antagonism Neonatal anti-BMP9/10 • Reduced AVMs Translational model of HHT generated by injection of • Increased hemoglobin anti-BMP9/10 antibodies into • Improved bleeding neon
Slide 44: TX1351 Delivers Robust Disease-Modifying Phenotype in the Anti-BMP9/10 Model
44 TX13511 Delivers Robust Disease-Modifying Phenotype in the Anti-BMP9/10 Model Decreases AVM formation Increases hemoglobin Reduces bleeding (retinal) No Disease Isotype TX1351 No Disease Isotype TX1351 No Disease Isotype TX1351 Ctrl Mice Ctrl Ab Anti-APJ Ctrl Mice Ctrl Ab Anti-APJ Ctrl Mice Ctrl
Slide 45: Anti-VEGFA, AKT Inhibition Provide Less Robust Disease Modification
45 Anti-VEGFA, AKT Inhibition Provide Less Robust Disease Modification in the Anti-BMP9/10 Model AVM formation Hemoglobin Anti-VEGFA Both mechanisms decrease AVM formation Neither improved hemoglobin levels AKT inhibitor No Disease IgG ctrl VEGFA AKT Data represent mean ± SEM; each dot = pups/group.
Slide 46: TX1351 Reduces Anemia & Bleeding in the iALK1-KO Model
46 TX13511 Reduces Anemia & Bleeding in the iALK1-KO Model APJ antagonism maintains durable benefits while VEGFA antagonism effects diminish over time Hemoglobin Levels GI Bleeding WT Littermate Ctrl Isotype Ctrl Ab TX1351 anti-APJ G6.31 anti-VEGFA Anemia threshold (~10 g/dL) VEGFA blockade fails to
Slide 47: TX1351 Significantly Reduces GI Hypervascularization, Hemorrhage, and Vein Dilation
47 TX13511 Significantly Reduces GI Hypervascularization, Hemorrhage, and Vein Dilation in iALK1-KO Mice APJ antagonism provides more complete vascular rescue than VEGFA antagonism TX1351 restores vascular architecture toward normal in a severe HHT model Latex dye restricted Venous dye to arterial f
Slide 48: Preclinical Program Did Not Show TX2100 or Target-Related Safety Signals
48 Preclinical Program Did Not Show TX2100 or Target-Related Safety Signals Previously reported physiological effects of apelin1 and APJ antagonism were not • Apelin/APJ pathway has been reproduced in multiple in-house preclinical studied mostly in the context of studies agonist pharmacology • Blood
Slide 49: Phase 1a Clinical Trial Design for TX2100
49 Phase 1a Clinical Trial Design for TX2100 A Single Ascending Dose Study of TX2100 in Healthy Volunteers (n= ~48) • Single center, double-blind, placebo-controlled, first-in-human, single ascending dose study to assess the safety, tolerability, and pharmacokinetics of TX2100 in healthy volunteers
Slide 50: Overview of TX2100 Clinical Development Plans
50 Overview of TX2100 Clinical Development Plans Ongoing Phase 1a first-in-human clinical trial in healthy volunteers • Assess safety, tolerability and PK of single doses of TX2100 2027 • Phase 1a first subject randomized in Feb 2026, expect topline results by the end of Q3’26 Phase 1b clinical tria
Slide 51: TX2100: A Potential First-in-Class APJ Antagonist to Treat HHT
51 TX2100: A Potential First-in-Class APJ Antagonist to Treat HHT Validated approach • Anti-angiogenesis improves bleeding/anemia in HHT TX2100 VHH • Oncology agents can’t be used chronically Differentiated target / design • APJ is endothelial-enriched + pathology-biased • Built to capture anti-angi
Slide 52: TX2100: A Differentiated Therapy for HHT
52 TX2100: A Differentiated Therapy for HHT Company Program Administration MOA Clinical Stage APJ/apelin GPCR TX2100 Sub-Q Phase 1a initiated Q1’26 antagonist Clustering antibody DIAG723 Sub-Q Phase 1/2 initiated Q2’26 agonist restoring ALK1 VAD044 Oral Allosteric AKT inhibitor Phase 3 to initiate Q
Slide 53: Platform
53 Platform Proprietary platform enables reproducible discovery and optimization of GPCR targeted biologics
Slide 54: Solving Key Challenges in GPCR Targeted Biologics Discovery
54 Solving Key Challenges in GPCR Targeted Biologics Discovery GEODe Platform Features Challenges Designed for Success RETAIN endogenous GPCR structure to enable 1. screening against relevant form of receptor Receptor Engineering, and Purification Technology Delivers abundant receptor reagent in nat
Slide 55: Tectonic Tx: Positioned to Deliver on Value-Creating Milestones
55 Tectonic Tx: Positioned to Deliver on Value-Creating Milestones Two clinical candidates addressing untapped markets with significant market potential • TX45, a long-acting relaxin in Phase 2 supported by Phase 1b clinical trial results • TX45 has best-in-class potential for >1M+ patients with Gro
Slide 56: Thank You
56 Thank You info@tectonictx.com www.tectonictx.com LinkedIn: TectonicTx
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