Percheron Therapeutics Limited · ASX:PER
Percheron Therapeutics — Shareholder Meeting (October 2025)
25 slides from Percheron Therapeutics's shareholder meeting presentation, Oct 22, 2025
Slide 1: ASX Announcement: AGM Presentation
ASX Announcement AGM PRESENTATION Melbourne, Australia – 22 October 2025: In advance of this morning’s Annual General Meeting of shareholders to be held at 10:00am, and in accordance with ASX Listing Rule 3.13.3, Percheron Therapeutics Limited (ASX: PER or ‘the Company’) is pleased to provide a copy
Slide 2: A Year of Change
For personal use only A Year of Change Presentation to 2025 Annual General Meeting Dr James Garner CEO & Managing Director Sydney, NSW 22 October 2025 www.PercheronTx.com ASX: PER | US OTC: PERCF
Slide 3: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe-harbor provisions such as the Private Securities Litigation Reform Act of 1995. These statements do not relate strictly to historical or current facts and may be accompanied by words such
Slide 4: Year in Review
2 For personal use only Year in Review
Slide 5: Percheron has been working hard in CY2025 to rebuild the company
Percheron has been working hard in CY2025 to rebuild the company; we are now in a strong position to move into CY2026 June 2025 License of HMBD-002 from Hummingbird Bioscience • Provides Percheron with a world-class, phase II-ready, immuno-oncology asset on favourable economic terms For personal u
Slide 6: Companies with strong underpinnings do rebound from adversity (1/3)
Companies with strong underpinnings do rebound from adversity (1/3) Negative PIII Trial of Cabozantinib in Metastatic Castration-Resistant Prostate Cancer (mCRPC) For personal use only NASDAQ: EXEL 1 Year 3 Years 10 20 Drawdown 9 (peak to trough) Update on COMET-1 trial ↓ 84% 8 15 7 Time to Recovery
Slide 7: Companies with strong underpinnings do rebound from adversity (2/3)
Companies with strong underpinnings do rebound from adversity (2/3) FDA Complete Response Letter (≈Rejection) for Kalydeco® (ivacaftor) in Additional Population For personal use only NASDAQ: VRTX 1 Year 3 Years 160 180 Drawdown (peak to trough) 160 ↓ 47% 140 FDA declines to approve Kalydeco Time to
Slide 8: Companies with strong underpinnings do rebound from adversity (3/3)
Companies with strong underpinnings do rebound from adversity (3/3) FDA Withdrawl of Tysabri® (natalizumab) Following Several Cases of PML For personal use only NASDAQ: BIIB 1 Year 3 Years 80 90 Drawdown (peak to trough) FDA withdrawal of 80 70 Tysabri (natalizumab) ↓ 49% 70 Time to Recovery 60 (rec
Slide 9: Percheron is competitively valued in comparison to peer ASX-listed companies
Percheron is competitively valued in comparison to peer ASX-listed companies Indicative List of ASX-Listed Oncology Companies For personal use only Company Ticker Number of Highest Stage of Cash at Market Cap at Programs Development 30 June 25 30 June 25 IMM 4 Phase III $67.4M $350.5M RAC 1 Phase II
Slide 10: A New Focus for Percheron
For personal use only A New Focus for Percheron 8
Slide 11: Percheron's primary mission is now the development of new therapies for cancer
Percheron’s primary mission is now the development of new therapies for cancer, the most pressing healthcare challenge of the 21st century Approximately 1 in 2 Australians will Cancer is the most common cause of Despite enormous progress, 3 in 10 For personal use only receive a cancer diagnosis duri
Slide 12: Oncology is the largest therapeutic area in global drug development
Oncology is the largest therapeutic area in global drug development Approximately 1 in 3 new drugs approved Oncology is forecast to account for approximately two-thirds For personal use only in the last 20 years was an oncology drug of global growth in pharmaceutical spending 1,005 new medicines Glo
Slide 13: Oncology is a highly attractive therapeutic area for small-cap drug development companies
Oncology is a highly attractive therapeutic area for small-cap drug development companies Pivotal trials in oncology typically Oncology products generally have a Oncology drugs are more likely to For personal use only require fewer patients, especially if faster path to market than other receive FDA
Slide 14: Oncology is also a very appealing commercial prospect
Oncology is also a very appealing commercial prospect, and a key area of focus for most large pharma companies Oncology Products Often Command High Pricing Oncology Drugs Typically Continue to Expand Their Market For personal use only After an Initial Approval Annual Pricing in US for New Oncology D
Slide 15: Our new asset re-casts us as an immuno-oncology company
Our new asset re-casts us as an immuno-oncology company, one of the most exciting areas at the forefront of cancer drug development Ordinarily, the immune system is our first line of To become established, the cancer cell must Immuno-oncology therapies stimulate the defence against newly-formed canc
Slide 16: Immune checkpoint inhibitors have been one of the fastest growing classes of medicine
Immune checkpoint inhibitors have been one of the fastest growing classes of medicine in the immuno-oncology field, with more than US$ 40 billion in annual sales Immuno-oncology therapies target the interaction between tumours and the Immuno-oncology has grown to a For personal use only immune syste
Slide 17: HMBD-002 preclinical monotherapy activity and potential to enhance checkpoint inhibitors
Although HMBD-002 has shown compelling monotherapy activity in preclinical tumour models, its potential to enhance existing checkpoint inhibitors is particularly encouraging Monotherapy administration yields up to 80% tumour growth inhibition, Combination with PD-1 inhibition For personal use only d
Slide 18: Well-positioned to commence phase II human trials in CY2026
PRELIMINARY The substantial body of work already done with HMBD-002 leaves us well-positioned to commence phase II human trials in CY2026 Preclinical Development Clinical Development For personal use only Preclinical IND-Enabling NDA-Enabling Phase I Phase II Phase III Validation Toxicology To
Slide 19: Working Towards Success in 2026
For personal use only Working Towards Success in 2026 17
Slide 20: The phase II trial is designed to achieve five strategic objectives
The phase II trial for HMBD-002 is designed to achieve five strategic objectives For personal use only Minimise time, cost, and risk to clinical proof-of-concept, while generating maximally valuable data 1 2 3 4 5 Provide multiple shots on goal Maintain operational flexibility Generate frequent read
Slide 21: The phase II study will evaluate multiple tumour types through independent arms
PRELIMINARY The phase II study will evaluate multiple tumour types through independent arms in a single study, a well-established approach that provides efficiency and flexibility For personal use only 1 Arm 1 Each arm resembles a standalone study in a specific patient population Arm 2 Arm 3 Arm 4 2
Slide 22: Each arm will potentially have two stages
PRELIMINARY Each arm will potentially have two stages, allowing for an early read-out of activity before investing in confirmatory data Arm 1 For personal use only Arm 2 Arm 3 Arm 4 3 Decision to ‘graduate’ from exploratory to confirmatory stage is Arm 4 under company’s control and may take many inp
Slide 23: Four arms have been identified as high priority targets
PRELIMINARY Four arms have been identified as high priority targets, with the potential for others to be added in future For personal use only Triple-Negative EGFR-Mutant HER2-Negative Endometrial Breast Cancer Non-Small Cell Lung Cancer Oesophageal Adenocarcinoma Cancer (TNBC) (NSCLC) ~36,000 patie
Slide 24: The plan provides the potential for significant news flow from CY2026 onwards
INDICATIVE PRELIMINARY The plan provides the potential for significant news flow from CY2026 onwards 2026 2027 2028 Indicative Cost Estimates For personal use only Design and set-up Approximate Cost per Patient Enrol patients to open-label Graduate one or more initial arms of study; selection ~US$ 1
Slide 25: For personal use only
For personal use only info@PercheronTx.com www.PercheronTx.com
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