Slide 1: Developing therapies for Alzheimer's & pain
September 17, 2026 Developing therapies for Alzheimer’s & pain
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements regarding the Company’s intentions, assessments, or expectations in respect of the Company’s future results, financial position, liquidity, development, prospects, expected growth, strategies and possibilities as well as the market wit
Slide 3: Agenda
Agenda • AlzeCure in brief & business model • Two transformative transactions in 2026 − Lilly and QuantumCell • Painless – our wholly owned pain platform • Strategy & value drivers going forward • Q&A
Slide 4: AlzeCure Pharma in brief
AlzeCure Pharma in brief
Slide 5: AlzeCure Pharma – In brief
Introduction AlzeCure Pharma – In brief • Working in Alzheimer’s Disease & Pain – high unmet medical need & multi-billion sales potential • Founded in 2016 – spin-out from AstraZeneca – sponsored by Alzheimerfonden • Based in Stockholm at Novum Science Park, Karolinska Institute, Sweden • Three proj
Slide 6: Our Business Model
Introduction Our Business Model A Research & Development company From discovery to early clinical phase development, leading to out-licensing and/or partnering Upfront Milestone Royalties on payments payments sold products Validated through two out-licensing agreements 6 – Lilly and QuantumCell
Slide 7: A pipeline of Small-Molecule Programs
Introduction A pipeline of Small-Molecule Programs Two platforms out-licensed in 2026 – Painless remains wholly owned Research Preclinical Phase I Phase II Phase III Platform Candidate Target Indication phase phase Alzheimer’s Disease, Positive allosteric TBI - Traumatic brain Positive read-out Neur
Slide 8: Lilly & QuantumCell – Providing validation
Lilly & QuantumCell – Providing validation
Slide 9: Two Alzheimer's platforms - 1st-in-class properties & potential game-changers
Two Alzheimer’s platforms - 1st-in-class properties & potential game-changers MEETING NEEDS OF AD PATIENTS – ADRESSING SHORT TERM NEEDS WITH LONG-TERM BENEFITS Preventive Disease-modifying therapy Symptomatic & pot. Disease-modifying therapy Alzstatin® NeuroRestore® Gamma-secretase modulator Trk-PAM
Slide 10: Two transformative transactions in 2026
Out-licensing transactions – Alzstatin ACD680 and NeuroRestore® ACD856 Two transformative transactions in 2026 - Combined Deal Value > USD 3.2bn, excluding royalties Alzstatin, incl. ACD680 NeuroRestore, incl. ACD856 Partner Eli Lilly and Company QuantumCell ApS Type of deal Out-licensing & Collabor
Slide 11: Out-licensing & Collaboration Agreement with Lilly
Alzstatin – ACD680, a gamma-secretase modulator Out-licensing & Collaboration Agreement with Lilly – Alzheimer’s program Alzstatin ACD680 >USD 1Bn USD 10M total deal value, excl. royalties upfront payment • Global rights to Alzstatin platform incl. ACD680 out-licensed to Eli Lilly and Company – anno
Slide 12: The Alzheimer's brain and its destruction
Alzstatin – ACD680, a gamma-secretase modulator The Alzheimer’s brain and its destruction Toxic protein formations – Aβ42 amyloid pathology & plaque – are harming and destroying the brain. The formation process is called the Amyloid Cascade Toxic protein formations, built up of Aβ-42, are harming an
Slide 13: The Amyloid Cascade - Aβ-42 to diminish
Alzstatin – ACD680, a gamma-secretase modulator The Amyloid Cascade - Generates toxic & damaging fragments, including plaques, destroying neurons & brain structures AlzeCure’s GSM* Alzstatin® reduces Aβ -42 to diminish the build-up of toxic fragments & plaque Toxic protein formations, built up of Aβ
Slide 14: GSM induces plaque regression – New data
Alzstatin – ACD680, a gamma-secretase modulator GSM induces plaque regression – New data Two-photon-study preclinical study in APP/PS1 mice Vehicle AZ4126 Day 0 Day 28 Day 0 Day28 28-day GSM treatment: • Reduces amyloid plaque growth • Decreases new plaque appearance Birth Growth Unchanged Regressio
Slide 15: Out-licensing & Collaboration agreement with QuantumCell
NeuroRestore® – positive allosteric modulator of Trk-receptors Out-licensing & Collaboration agreement with QuantumCell – Alzheimer’s program NeuroRestore >USD 2.2Bn USD 12M total deal value, excl. royalties total upfront payment • Global rights to NeuroRestore, including lead candidate ACD856, out-
Slide 16: QuantumCell – a strong, long-term partner
NeuroRestore® – out-licensed to QuantumCell, July 2026 QuantumCell – a strong, long-term partner Danish tech-enabled biotech backed by leading Nordic life science investors • Founded in the summer of 2025 – applies quantum technology to drug development for central nervous system Ownership disorders
Slide 17: The importance of BDNF & NGF signaling in Alzheimer's
NeuroRestore® – positive allosteric modulator of Trk-receptors Background for QuantumCell’s interest in NeuroRestore The importance of BDNF & NGF signaling in Alzheimer’s • The neurotrophins Brain-Derived Neurotrophic Factor (BDNF) and Nerve Growth Factor (NGF) bind to their respective receptors, Tr
Slide 18: ACD856 – For Alzheimer's and Cognitive & Neuropsychiatric Disorders
NeuroRestore® – positive allosteric modulator of Trk-receptors ACD856 – For Alzheimer’s and Cognitive & Neuropsychiatric Disorders - Symptomatic Effects with Potential for Disease Modification Neurotrophins: NGF, BDNF, NT-3 and NT-4/5 ACD856: A pan-Trk positive Receptors: allosteric efficacy modulat
Slide 19: PainLess – targeting unmet medical needs within pain
PainLess – targeting unmet medical needs within pain
Slide 20: Painless – our wholly owned pain platform
PainLess Painless – our wholly owned pain platform Osteoarthritis & severe pain Neuropathic pain conditions > 300 million patients > 600 million patients Project: ACD137 Project: ACD440 Negative allosteric modulator of TrkA- Topical TRPV1 antagonist in clinical receptors in research phase Phase II 2
Slide 21: ACD137 – Non-Opioid Treatment of Osteoarthritis & Severe Pain
ACD137 - Negative allosteric modulator of TrkA-receptors ACD137 – Non-Opioid Treatment of Osteoarthritis & Severe Pain Attractive E.g., osteoarthritis in patients who have experienced insufficient pain relief from 1st line target population standard of care or unacceptable side effects Clinical Mech
Slide 22: ACD137 positions AlzeCure in next-generation TrkA pain therapies
ACD137 - Negative allosteric modulator of TrkA-receptors ACD137 positions AlzeCure in next-generation TrkA pain therapies Compound Company TrkA (nM) TrkB (nM) TrkA vs TrkB Status Indication OA1 & ACD137 AlzeCure 0.87 26 400 30,300 Preclin other pain conditions Cmpd #10 Array Bio. OA 0.038 210 5,500
Slide 23: ACD440 – Novel TRPV1 antagonist in clinical phase for neuropathic pain
ACD440 – a TRPV1 antagonist ACD440 – Novel TRPV1 antagonist in clinical phase for neuropathic pain Project overview Emanates from Big Pharma TRPV1 – Optimized for local delivery Positive clinical trial results in phase Ib & IIa • Approximately 20M USD already • The vanilloid receptor subtype 1 • Dev
Slide 24: Positive phase IIa results for First-in-Class ACD440
ACD440 – a TRPV1 antagonist Positive phase IIa results for First-in-Class ACD440 • Demonstrate Positive Proof-of-Mechanism (PoM) results in patients with chronic peripheral neuropathic pain in a placebo cross-over trial • The patients have had chronic pain for many years & were on concomitant medica
Slide 25: Strong regulatory momentum in US and EU
ACD440 – a TRPV1 antagonist Strong regulatory momentum in US and EU Granted orphan drug designation (US & EU) Erythromelalgia • FDA granted Orphan Drug Designation (ODD) for • Erythromelalgia is a rare chronic painful disorder – erythromelalgia ”Burning Feet Syndrome” existing in children & adults •
Slide 26: Strategy & Value Drivers Going Forward
Strategy & Value Drivers Going Forward
Slide 27: Continued presence in both Alzheimer's & Pain - with several value drivers
Strategy & Value Drivers Going Forward Continued presence in both Alzheimer’s & Pain - with several value drivers Collaboration on partnered Alzheimer's Painless TrkA-NAM ACD137 platforms: Alzstatin & NeuroRestore • Advance the program towards clinical development in • Continued support from AlzeCur
Slide 28: Summary & Questions
Summary & Questions
Slide 29: Key Investment Highlights in AlzeCure
AlzeCure Pharma – The Investment Case Key Investment Highlights in AlzeCure Two major out-licensing agreements signed in 2026 – strong validation of company, team and projects m Combined deal value in excess of USD 3.2bn, … plus tiered royalties on future sales Financial position strengthened by USD
Slide 30: Karolinska Institutet Novum Science Park
Karolinska Institutet Novum Science Park Hälsovägen 7, 141 57 Stockholm SWEDEN Martin.jonsson@alzecurepharma.com www.alzecurepharma.com
Slide 31: Board of Directors
Board of Directors - Complementing expertise for the continuous development of AlzeCure BOARD OF DIRECTORS EXPERIENC ES Eggert Mörling › Strong background in financing and the private equity market at Morgan Stanley, Deutsche Bank, Chairman of the Board Julius Baer, Carnegie, SEB and Svenska Handels
Slide 32: The AlzeCure Management team
The AlzeCure Management team - Extensive experience from the industrial drug development value chain MANA GE MENT TEAM EXPERIENC ES Martin Jönsson › Extensive experience in various senior management positions with >20 years of international experience CEO in the industry › Education: MBA from Lund U