Nykode Therapeutics Asa · OSL:NYKD
Nykode Therapeutics Asa — DNB Nordic Healthcare Conference 2025
35 slides from Nykode Therapeutics Asa's conference presentation, Nov 25, 2025
Slide 1: DNB Nordic Healthcare Conference
DNB Nordic Healthcare Conference November 25, 2025
Slide 2: Forward-looking statement
Forward-looking statement This announcement and any materials distributed in connection with this presentation may contain certain forward- looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the company’s current expectations and assumpt
Slide 3: Focused strategy to deliver significant clinical and commercial impact
Focused strategy to deliver significant clinical and commercial impact Abi-suva (VB10.16): addressing markets with blockbuster potential • High conviction from 3 trials across indications showing strong and durable clinical response correlated with antigen specific immune responses • Phase 2 RCT in
Slide 4: Engaging Antigen Presenting Cells to direct precise immune responses
Engaging Antigen Presenting Cells to direct precise immune responses APC’s and their importance How does Nykode use APCs • Antigen Precenting Cells process and • Proprietary APC-targeting technology present antigens to T-cells to develop differentiated assets tailor- made for oncology and autoimmune
Slide 5: Abi-suva in HPV16+ cancers
Abi-suva in HPV16+ cancers Nykode Therapeutics | DNB Conference | Non-Confidential
Slide 6: Advancing into the future of 1L R/M HNSCC treatment with abi-suva
Advancing into the future of 1L R/M HNSCC treatment with abi-suva Forecasted HPV16+ HNSCC Incidences Unmet need sales* HNSCC has the highest number Current SOC has 19% ORR and 12.3 HPV16+ HNSCC shows a significant ~105,000 in HPV+ driven of incidences mOS, leaving room for significant estimated grow
Slide 7: Meaningful clinical effect in 2L+ cervical cancer
Meaningful clinical effect in 2L+ cervical cancer C-02 trial Overall response rate (ORR) indicates a strong Significant increase in overall response rate clinical effect with abi-suva + atezolizumab (ORR) compared to CPI monotherapy Overall response in PD-L1+ (n = 24) ORR compared to CPI monotherapy
Slide 8: Strong overall survival in 2L+ cervical cancer
Strong overall survival in 2L+ cervical cancer Overall survival of 24.7 mos in PD-L1+ patients Overall survival is longer than CPI monotherapy treated with abi-suva + atezolizumab for 12 historic controls months mOS compared to SOC 24,7 ~109% 13,9 10,6 11,0 24,7 13,9 10,6 11,0 Abi-suva + Atezo Pembr
Slide 9: Initiating Abili-T, randomized controlled trial enrolling up to 100 1L HNSCC patients
Initiating Abili-T, randomized controlled trial enrolling up to 100 1L HNSCC patients Key inclusion Treatment Endpoints criterion ORR • HPV16+ r/m HNSCC Abipapogene suvaplasmid + pembrolizumab DOR RMDOR • PD-L1+ DCR R • Measurable disease PFS (1:1) • ECOG PS 0-1 OS • GRIm 0-1 TEAEs Pembrolizumab Imm
Slide 10: Abili-T Achievements so far
Abili-T Achievements so far Achieved since announcement of trial (August 2025). ✓ Protocol for Abili-T trial submitted to UK regulatory authorities in November, with relevant EMA submissions expected in December ✓ Agreed the supply of Pembrolizumab for the Abili-T trial Nykode Therapeutics | DNB Con
Slide 11: Abili-T designed to provide Proof of Concept for Abi-suva
First data from C-03 1H2026 Abili-T designed to provide Proof of Concept for Abi-suva with potential spill-over Well positioned in the field of HPV+ validation across HPV16 1L R/M HNSCC segment and for Nykode technology platform including RCT with ~100 patients with INT meaningful interim readout wi
Slide 12: VB10.NEO Individualized NeoAntigen Therapy
VB10.NEO Individualized NeoAntigen Therapy Nykode Therapeutics | DNB Conference | Non-Confidential
Slide 13: VB10.NEO is well positioned to leverage peer readouts
VB10.NEO is well positioned to leverage peer readouts Achievements for VB10.NEO Future Path • The concept of Individualized Neoantigen Clinical trials in heavily pre-treated 2 Therapy (INT) is entering defining period patients showing strong immune responses. • With 10 ongoing peer Ph2 and Ph3 clini
Slide 14: VB10.NEO delivers on all key success factors for an ideal INT candidate
VB10.NEO delivers on all key success factors for an ideal INT candidate Key success factors for an Individualized Neoantigen Therapy: Clinical Antigen selection Supply chain Costs experience Nykode has a Nykode’s DNA based Nykode’s two NeoSELECT – robust and proven therapy has both clinical trials*
Slide 15: pDNA offers significantly less complex production process for individualized NeoAntigen therapy
pDNA offers significantly less complex production process for individualized NeoAntigen therapy pDNA High potential for fast turn-around-time and lower COGS compared to mRNA Fermentation DNA Fill Product QA and Purification release mRNA Fermentation DNA In vitro Downstream mRNA QA LNP Fill Product F
Slide 16: VB10.NEO is well positioned in the field of individualized neoantigen therapies
Peer readouts within next 15 months can create a strong conviction for INTs VB10.NEO is well positioned VB10.NEO meets requirement for in the field of individualized ideal INT technology neoantigen therapies. Continuing to strengthen this position with key activities focused on further optimizing ro
Slide 17: Antigen-Specific Immune Tolerance
Antigen-Specific Immune Tolerance Nykode Therapeutics | DNB Conference | Non-Confidential
Slide 18: Autoimmune deal, M&A and VC funding market is showing significant traction in 2025
Autoimmune deal, M&A and VC funding market is showing significant traction in 2025 Nykode Therapeutics | DNB Conference | Non-Confidential
Slide 19: A new way of thinking about autoimmune disease treatment
A new way of thinking about autoimmune disease treatment The Problem The Future Current treatment focus on symptom management -- do not address the underlying root cause of disease . Unsolved Side effects frequently impairing the quality of life of patients Antigen-Specific Immune Tolerance is a new
Slide 20: Key factors for a successful ASIT platform
Key factors for a successful ASIT platform An ASIT platform should have following key factors to succeed: Immune MultiAg Efficacy Durability Manufacture & regulation Capability Delivery Regulate all major AI competencies for Long durable Therapeutic efficacy autoreactive multi-antigen drug Convenien
Slide 21: The journey to become best-in-class ASIT platform
The journey to become best-in- class ASIT platform Using EAE models Nykode Therapeutics | DNB Conference | Non-Confidential
Slide 22: Does our technology outperform the antigen only?
Does our technology outperform the antigen only? EFFECT OF NYKODE VACCINES IN EAE MODELS Targeted Vaccine 1 Paralysis ✱✱ Weight 5 Targeted 60 ✱✱ 23 vaccine 1 EAE score (0-8) AUC (5-20) 4 MOG(27-63) 22 Weight (g) MOG PBS 40 21 3 (27-63) 20 2 20 19 Daily clinical scores 18 1 0 17 0 day 0 day 20 S 3) e
Slide 23: Does the targeting unit contribute meaningfully to the efficacy?
Does the targeting unit contribute meaningfully to the efficacy? EAE MODEL – EARLY THERAPEUTIC DELIVERY 30 µg 10 µg 3 µg APC 4 Targeted Non-targeted 4 5 PBS 4 EAE score (0-8) EAE score (0-8) EAE score (0-8) 3 3 3 2 2 2 1 1 1 0 0 0 6 8 10 12 14 16 8* 20 22 24 26 28 6 8 10 12 14 16 8* 20 22 24 26 28 M
Slide 24: Can the technology induce reduction of effector T cells and increase inhibitory T cells?
Can the technology induce reduction of effector T cells and increase inhibitory T cells? REDUCING EFFECTOR T CELLS AND INCREASING IMMUNE INHIBITION Day 12 post EAE induction: MOG MOG-recall Splenocytes (27-63) ✱✱✱ Th1.17 cells IFN-γ Lag3 Targeted 5 Targeted 30 vaccine 1 ✱✱✱✱ Vaccine 1 ✱ 1×10 5 ✱ EAE
Slide 25: Can the technology increase regulatory T cells?
Can the technology increase regulatory T cells? ADOPTIVE TRANSFER OF MOG-SPECIFIC CD4+ T CELLS Proliferation Foxp3+ Treg cells Day 4 (after 1x injection) Day 7 % Foxp3+ of CD4+Thy1.2+ cells % Ki67+ of CD4+Thy1.2+ cells ✱✱✱✱ 100 PBS MOG 100 (27-63) ✱ Targeted 80 vaccine 1 Targeted 75 Vaccine 1 60 50
Slide 26: Can different targeting units be used?
Can different targeting units be used? EAE MODEL – EARLY THERAPEUTIC DELIVERY Target 1 Target 1 Target 2 APC Paralysis ✱✱✱ 5 Targeted 1 ✱✱ MOG MOG Targeted 2 50 (27-63) (27-63) 4 PBS Target 2 Targeted Targeted EAE score 40 vaccine 1 vaccine 2 AUC (5-20) 3 30 2 20 Daily clinical scores (5-28) 1 10 da
Slide 27: Can the technology induce a long lasting effect even when administered after disease onset?
Can the technology induce a long lasting effect even when administered after disease onset? EAE MODEL – LATER THERAPEUTIC TREATMENT Target 2 MOG Targeted (27-63) 4 vaccine 2 Targeted PBS ✱✱ vaccine 2 EAE score (0-8) 200 3 160 AUC (5-35) 2 120 Daily clinical scores (5-60) 80 Score >/= 1 1 & 3 days la
Slide 28: Is the targeting unit contributing to the long durability?
Is the targeting unit contributing to the long durability? Target 1 EAE MODEL – LATE THERAPEUTIC DELIVERY Tol APC Target 2 5 ✱✱✱✱ 80 ✱✱ 4 EAE score (0-8) Targeted vaccine 2 MOG MOG 60 Early treatment, day 7 & 10 3 AUC (11-24) (27-63) (27-63) Targeted vaccine 2 Late treatment, day 11 & 14 Targeted No
Slide 29: Does the technology impact immune cells in the disease relevant organs?
Does the technology impact immune cells in the disease relevant organs? EAE MODEL – LATE THERAPEUTIC DELIVERY Target 2 CD45+CD11b+ cells ✱✱✱✱ Targeted vaccine 2 ✱✱✱✱ ✱ Early treatment, day 7 & 10 5×10 5 100 mg of spinal cord MOG Targeted vaccine 2 Cell number per (27-63) 4×10 5 Late treatment, day 1
Slide 30: Can the technology also reduce the auto-antibody levels?
Can the technology also reduce the auto-antibody levels? EAE MODEL – EARLY THERAPEUTIC DELIVERY Targeted vaccine 2 3.5 3.0 Non-targeted vaccine PBS anti-MOG (35-55) IgG ✱ EAE score (0-8) 2.5 1000 MOG-specific IgG (µg/mL) 2.0 MOG MOG 1.5 800 (27-63) (27-63) 1.0 Targeted Non-targeted 0.5 600 vaccine 2
Slide 31: Can the technology be delivered through patient friendly routes?
Can the technology be delivered through patient friendly routes? EAE model – LATE THERAPEUTIC DELIVERY PBS Targeted vaccine, i.v. Targeted vaccine, s.c. MOG 5 (27-63) Targeted vaccine 4 EAE score (0-8) 3 Day 28: Daily clinical scores ****p<0.0001 ***p<0.001 2 day 0 day 28 1 EAE induction Termination
Slide 32: Invest in developing the Best-in-Class Antigen-Specific Immune Tolerance Platform
Invest in developing the Best-in-Class Antigen-Specific Immune Tolerance Platform Unmet medical need Competitive Strength Strategic approach • Current treatments rely on broad • Promising data in preclinical models • Increase investments to create a immunosuppression, offering show long-lasting effi
Slide 33: Outlook
Outlook Nykode Therapeutics | DNB Conference | Non-Confidential
Slide 34: Well-positioned to execute strategy and meet inflection points
Well-positioned to execute strategy and meet inflection points Cash runway Next 6-12 months Next 12-24 months Cash runway into 2028-2029* C-03 interim efficacy data (1H 26) Abili-T first interim analysis (2027) Cash runway exceeding Key peer readouts on INT Continued key peer readouts on significant
Slide 35: Unlocking the future of medicine
UNLOCKING THE FUTURE OF MEDICINE Contact: Alexandra Deschner Head of Investor Relations IR@nykode.com Nykode Therapeutics | DNB Conference | Non-Confidential
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