Cartesian Therapeutics, Inc. · NASDAQ:RNAC
Cartesian Therapeutics — Investor Presentation (September 2026)
33 slides from Cartesian Therapeutics's investor presentation, September 2026
Slide 1: Pioneering mRNA Cell Therapy for Autoimmunity
Pioneering mRNA Cell Therapy for Autoimmunity September 2026
Slide 2: Forward-looking statements
Forward-looking statements Disclosures For the purposes of this notice, the “presentation” that follows shall mean and include the slides that follow, the oral presentation of the slides by members of management of Cartesian Therapeutics, Inc. (the “Company”) or any person on their behalf, any quest
Slide 3: Executive summary
Executive summary Cartesian’s lead asset, Descartes-08, delivers deep and durable responses in MG through 12 months following a single course of therapy—administered outpatient without lymphodepletion—positioning it to transform the current treatment landscape. The Phase 3 AURORA trial positions Des
Slide 4: Late-stage clinical company pioneering mRNA cell therapy
Late-stage clinical RECENT AND PLANNED ACTIVITY company pioneering mRNA cell therapy DESCARTES-08 specifically designed to • Phase 3 AURORA trial data expected in 1Q27; positions Descartes-08 to potentially access $1B+1 market opportunity in MG expand the reach of cell • Phase 2 TRITON trial in myos
Slide 5: Cartesian's mRNA approach is designed to expand the reach of potent cell therapy products
Cartesian’s mRNA approach is designed to expand the reach of potent cell therapy products to address autoimmunity No Lymphodepletion Administered Outpatient No associated cytopenia, secondary Convenient dosing schedule malignancies, or other chemotherapy toxicities Delivered at Therapeutic Levels Tr
Slide 6: Wholly-owned pipeline targets autoimmune disease
Wholly-owned pipeline targets autoimmune disease Asset Indications Discovery/Preclinical Phase 1 Phase 2 Phase 3 Myasthenia Gravis Myositis Descartes-08 (Dermatomyositis & Autologous mRNA CAR-T Antisynthetase Syndrome) Juvenile Dermatomyositis 6 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 7: Descartes-08 is an mRNA CAR T-cell therapy in clinical development for autoimmune disease
Descartes-08 is an mRNA CAR T-cell therapy in clinical development for autoimmune disease Engineered by transfection of autologous CD8+ T cells with mRNA encoding anti-BCMA CAR Typical lot processed for infusion within as little as ~3 weeks Granted U.S. FDA orphan and RMAT designations for generaliz
Slide 8: Descartes-08 in Myasthenia Gravis
Descartes-08 in Myasthenia Gravis 8 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 9: Myasthenia gravis is a rare, progressive autoimmune disease with significant unmet need
Myasthenia gravis is a rare, progressive autoimmune disease with significant unmet need Significant Unmet Need Remains 106,000+ • Highly heterogenous disease biology makes a standardized treatment approach ineffective2 Patients in the U.S.1 • Limited durability from current therapies Characterized b
Slide 10: AURORA: Randomized double-blind, placebo-controlled Phase 3 trial of Descartes-08 in AChR Ab+ gMG
AURORA: Randomized double-blind, placebo-controlled Phase 3 trial of Descartes-08 in AChR Ab+ gMG with data expected in 1Q27 INCLUSION CRITERIA • AChR Ab+ Masked Dosing • MGFA Class II-IV Six weekly doses • MG-ADL ≥6 of Descartes-08 Primary Endpoint or placebo Assessment • On stable doses of immunos
Slide 11: Deepening responses observed in participants treated with Descartes-08
Deepening responses observed in participants treated with Descartes-08 Primary Efficacy Dataset • Average MG-ADL reduction of 5.5 (±1.1) points at Month 4, maintained through Month 12 (4.8±1.4) • Average QMG reduction of 4.8 (±1.7) points at Month 4, Clinically meaningful decrease deepened through M
Slide 12: Deep responses observed in participants with no prior exposure to complement or FcRn inhibitors
Deep responses observed in participants with no prior exposure to complement or FcRn inhibitors Primary Efficacy Dataset (No Prior Biologics) • Average MG-ADL reduction of 6.6 (±1.5) points at Month 4, maintained through Month 12 (7.1±1.9) • Average QMG reduction of 6.0 (±2.3) points at Month 4, Cli
Slide 13: Safety profile supports outpatient administration with no AEs reported after Month 3
Safety profile supports outpatient administration with no AEs reported after Month 3 through final follow-up Descartes-08 (n=20) Placebo (n=16) Grade 1 Grade 2 Grade 3 Grade 1 Grade 2 Grade 3 • Most commonly observed AEs through Headache 7 (35%) 4 (20%) 2 (13%) 3 (19%) Month 3 include: headache, chi
Slide 14: Retreatment of Descartes-08 highlights deep and durable responses
Retreatment of Descartes-08 highlights deep and durable responses in patients with MG with no new safety signals observed Initial Treatment Retreatment 5 5 Six once- Six once- Mean Change from Baseline MG-ADL Score Mean Change from Baseline MG-ADL Score weekly weekly DC-08 DC-08 infusions infusions
Slide 15: Current gMG market lacks disease modifying treatments, potential $1B+ opportunity
Current gMG market lacks disease modifying treatments creating the potential to access a $1B+ market opportunity for Descartes-08 in the US DESCARTES-08 OBSERVATIONS Estimated US Patient Population: 106,0001 Significant reduction in MG-ADL of 7.1 at Month 124 with a single course of therapy AChR+: ~
Slide 16: Descartes-08 is optimally designed for autoimmune diseases
Descartes-08 is optimally designed for autoimmune diseases Key Characteristics for a Differentiated Therapy Designed for Patient Adoption in MG Durability of Response Descartes-08 delivers deep and durable responses through 12 months after a single course of therapy Single Course of Therapy Unlike c
Slide 17: Descartes-08 Expansion into Myositis
Descartes-08 Expansion into Myositis 17 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 18: Expansion into myositis provides new opportunity in an area with significant unmet need
Expansion into myositis provides new opportunity in an area with significant unmet need and compelling market 80,000+ Residual Unmet Needs in Myositis4-5 Treatment options have limited efficacy in Patients in the U.S.1 broader organ involvement and refractory patients Characterized by debilitating B
Slide 19: Mechanistic alignment underscores a potential multi-billion-dollar opportunity in myositis
Strong mechanistic alignment with existing clinical data in MG and SLE underscores a potential multi-billion-dollar opportunity in myositis for Descartes-08 Estimated US Patient Population: 80,0001 3L+ Treatment ~60%2 Descartes-08 Treated Population opportunity Refractory 40% represented by 60% Pati
Slide 20: Myositis seamless clinical trial design with data expected in 1H27
Myositis seamless clinical trial design provides potential opportunity for single pivotal trial with data expected in 1H27 INCLUSION CRITERIA PRIMARY OBJECTIVE Adults with moderate to severe multi-refractory Assess safety and efficacy of Descartes-08 dermatomyositis and antisynthetase syndrome compa
Slide 21: Phase 1/2 trial of Descartes-08 in children and young adults with autoimmune diseases initiated
Phase 1/2 trial of Descartes-08 in children and young adults with autoimmune diseases initiated with data expected in 1H27 Anticipated Pediatric Basket Trial Timeline DC-08’s observed safety profile combined with significant unmet • Rare Pediatric Disease Designation for DC-08 in need in pediatric a
Slide 22: In Vivo Expansion
In Vivo Expansion 22 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 23: Strategic licensing agreement with WestGene Biopharma accelerates in vivo CAR-T development
Strategic licensing agreement with WestGene Biopharma accelerates in vivo CAR-T development in autoimmune diseases EARLY PROOF OF CONCEPT ESTABLISHED FOR WESTGENE’S IN VIVO APPROACH WestGene’s LNP platform combined with Cartesian’s mRNA payload from Descartes-08 integrates two independently, clinica
Slide 24: Manufacturing
Manufacturing 24 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 25: Wholly-owned, in-house, US-based manufacturing
FUTURE GROWTH Wholly-owned, Clinical and commercial manufacturing in-house, US-based scale capabilities support maturing manufacturing pipeline and future growth QUICK TO ADAPT Continuous process optimization creates opportunity for progressive margin expansion WHOLLY-OWNED Ownership of quality cont
Slide 26: Financial position: $149.3M cash
~80 FULL TIME FINANCIAL POSITION: $149.3M EMPLOYEES In cash, cash equivalents Based in Gaithersburg, MD Current Cash and and restricted cash and Frederick, MD Cash Equivalents Expected to Support Pipeline Through Key 30.0M 39.1M Milestones Basic shares outstanding Fully diluted shares outstanding* A
Slide 27: Our team | Management
Our team | Management Carsten Brunn, PhD Blaine Davis Emily English, PhD PRESIDENT AND CEO CHIEF FINANCIAL OFFICER CHIEF OPERATIONS OFFICER Peter Traber Matthew Bartholomae HEAD OF R&D GENERAL COUNSEL, SECRETARY 27 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 28: Executive summary
Executive summary Cartesian’s lead asset, Descartes-08, delivers deep and durable responses in MG through 12 months following a single course of therapy—administered outpatient without lymphodepletion—positioning it to transform the current treatment landscape. The Phase 3 AURORA trial positions Des
Slide 29: Appendix
Appendix 29 PIONEERING mRNA CELL THERAPY FOR AUTOIMMUNITY
Slide 30: Descartes-08 is designed for dual action, targeting two key BCMA+ cell populations
Descartes-08 is designed for dual action, precisely targeting two key BCMA+ cell populations involved in a spectrum of autoimmune diseases • Descartes-08 is designed to target BCMA, a surface antigen expressed on plasma cells/plasmablasts and plasmacytoid dendritic cells PLASMA CELLS (PCs) AND PLASM
Slide 31: Meaningful reductions in MG-ADL sustained through Month 12 in AChR+ gMG
Meaningful reductions in MG-ADL at Month 3 were sustained through Month 12 with Descartes-08 in AChR+ gMG Visit D1 D29 D57 D85 D113 M6 M9 M12 2.5 There was a significant and clinically meaningful 0.0 reduction in mean [SD] MG-ADL score MG-ADL score at Month 3 for Clinically meaningful the Descartes-
Slide 32: Descartes-08 focuses the T-cell repertoire and selectively alters the autoreactome
Descartes-08 focuses the T-cell repertoire and selectively alters the autoreactome, showing clear biological activity Descartes-08 focuses the T-cell repertoire in a Descartes-08 selectively alters the self-reactive branch of the manner that correlates with clinical effect antibody repertoire (i.e.,
Slide 33: Baseline characteristics: Patients in open-label Phase 2 SLE trial
Baseline characteristics: Patients in open-label Phase 2 SLE trial SLE Baseline Participant Sex Age Duration SLEDAI- Prior Rx Ongoing Rx (years) 2K Patient A F 44 19 8 MMF MMF, HCQ Prednisone 2.5mg, HCQ, Patient B F 42 23 12 - MMF Prednisone 20mg, HCQ, Prednisone 2.5mg, MTX, Patient C F 54 15 8 Lefl
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