Oncopeptides Ab · OMXSTO:ONCO
Oncopeptides Ab — Shareholder Meeting (May 2026)
60 slides from Oncopeptides Ab's shareholder meeting presentation, May 2026
Slide 1: Årsstämma 2026
Årsstämma 2026 Sofia Heigis, vd 1
Slide 2: About Oncopeptides
About Oncopeptides A Swedish biotech specializing in difficult-to-treat cancers through a commercialized therapy, Pepaxti, and an innovative pipeline. In the early stages of a strategic expansion driven by European commercialization, global partnerships and next-generation innovations. 2000 FOUNDED
Slide 3: Our potential
Our potential Financial potential € Pipeline Rest of World Pepaxti partnerships Transformative in Europe Licensing potential Commercial upside base Now Future A global biotech with a marketed product, expanding indications, and a proprietary platform unlocking future therapies 3
Slide 4: Where we are right now
Where we are right now Q1 2025 Q1 2026 +91% FY 2024 FY 2025 +125% 13.3m 25.4m 31.6m 71.1m 4 All figures in SEK.
Slide 5: Why invest in Oncopeptides?
Why invest in Oncopeptides? Growth SEK ≈1.5B European Pipeline potential in momentum in market potential $8B+ Glioblastoma Europe with fully approved global market product Strategic expansion Pipeline assets in through multiple potential partnerships indications 5
Slide 6: Recent announcements strengthening our investment case
Recent announcements strengthening our investment case 91 % growth in Q1 YoY Application to enter third line would, following approval and patient access, significantly increase addressable market for Pepaxti Growth SEK ≈1.5B European Pipeline potential in momentum inSeveral partnership market poten
Slide 7: Pepaxti in Europe
Pepaxti in Europe © oncopeptides
Slide 8: PDCs enhance alkylation through enzymatic enrichment and dual targeting
PDCs enhance alkylation through enzymatic enrichment and dual targeting of both nuclear and mitochondrial DNA 1 2 Melflufen enters cells freely due to Peptidases and esterases are its lipophilicity, without the need of enzymes overexpressed in tumor transporter proteins. cells and important in prote
Slide 9: European sales trajectory
European sales trajectory 30 80 70 25 60 20 50 Quarterly Full year 15 40 30 10 20 5 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2023 2024 2025 2026 Full year Quarter over quarter Revenue, European sales, million SEK 9
Slide 10: European sales
European sales Q1 2023 Q1 2024 Q1 2025 Q1 2026 ≈800 patients* treated since EMA Inclusion in updated EHA/EMN Positive clinical experience triggers approval in 2022 guidelines, in our wanted position RWD publication to support peer-to- with 1B recommendation, is driving peer recommendations awareness
Slide 11: Independent data from real-world studies of melflufen
Independent data from real-world studies of melflufen These studies confirm the findings from our clinical program – melflufen is effective and has a manageable safety profile, with adverse events primarily being hematological. USA 1 Spain 5 • 12 patients • 19 patients • Median 5.5 prior lines of th
Slide 12: European commercialization
European commercialization Phase I – completed ≈55% Phase II – completed Market exclusivity Phase II – pending until 2037 ≈35% Phase III ≈10% Phase IV % of market potential per phase out of SEK ≈1.5 billion estimated annual market potential. 12
Slide 13: Oncopeptides intends to expand Pepaxti into third line therapy
Oncopeptides intends to expand Pepaxti into third line therapy Newly diagnosed Early relapse Late relapse Advanced disease Multiple Myeloma burden Tumor 2nd relapse Symptomatic Multiple Myeloma Current 1st relapse Rapid Initial therapy acceleration Pepaxti +/- Autologous of disease Indication Stem C
Slide 14: Multiple Myeloma treatment course – a marathon, not a sprint
Multiple Myeloma treatment course – a marathon, not a sprint Newly diagnosed Early relapse Late relapse Advanced disease Multiple Myeloma burden Tumor Symptomatic Multiple Myeloma Potential 1st relapse Initial therapy Pepaxti +/- Autologous Indication Stem Cell Therapy Maintenance 1st line 2nd line
Slide 15: Broadening the therapeutic reach
Broadening the therapeutic reach • Current indication • Future potential indication • 4th Line+ treatment • 3rd line+ treatment • Adult patients with RRMM who have • Adult patients with RRMM who have received at least 3 prior lines of therapies received at least 2 prior lines of therapies • Refracto
Slide 16: Multiple Myeloma treatment landscape
Multiple Myeloma treatment landscape 4th line and 1st line 2nd line 3rd line beyond Anti CD38 Proteasome monoclonal inhibitors Conventional Rechallenge antibodies therapy Immunomodula tors (IMIDs) Bispecific CAR T ADC*** Immuno- antibodies therapy Bispecific antibodies** PDC Nuclear export Nuclear e
Slide 17: Execution timeline and milestones
Execution timeline and milestones May-July 2026 H2 2026 H1 2027 2027 Type II Variation Initial Regulatory Feedback European Commission Market Access & Price Submission to EMA expected Final Decision negotiations 17
Slide 18: Bringing hope to patients
Bringing hope to patients If approved and price negotiations are successful, this indication expansion represents a significant milestone for Oncopeptides, the patients we serve, and our shareholders. Third line approval and market access Financial impact Increases total European sales potential 2x
Slide 19: Rest of World partnerships
Rest of World partnerships 19
Slide 20: Pepaxti commercialization and partnership landscape
Pepaxti commercialization and partnership landscape Oncopeptides’ expansion Reimbursed strategy can be summarized Available via partner as: grow geographically, Market access pending partner smartly, and Regulatory process ongoing by partner innovate purposefully Partnership discussion ongoing 20
Slide 21: Pipeline
»~ ~ > ‘‘ Pipeline © oncopeptides
Slide 22: Pipeline assets
Pipeline assets PDC: A global, multi-indication opportunity building onto our existing innovation OPD5 – Global opportunity with potential for additional indications OPDC3 – Designed for enhanced selectivity, global opportunity with potential in solid tumors SPiKE: A platform with exciting potential
Slide 23: Our PDC Platform: validated science, limitless potential
Our PDC Platform: validated science, limitless potential Validated Overcoming Real-world Growth beyond scientific treatment proof-of-concept myeloma breakthrough resistance With over SEK We are deploying Our proprietary Our platform is 25.6 million in this same technology is a engineered to Q1-26 sa
Slide 24: Glioblastoma
»~ ~ > ‘‘ Glioblastoma © oncopeptides
Slide 25: Glioblastoma
Glioblastoma A brain tumor with high unmet need and growing market potential Most aggressive brain cancer – grows fast, invariably relapses, and has no cure. Rare but severe – affects about 3-4 people per 100,000 each year, usually above the age of 60. Glioblastoma Poor survival – even with treatmen
Slide 26: The barrier
The barrier © oncopeptides
Slide 27: The challenge
The challenge No major therapeutic breakthrough since TMZ approval in 2005 Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of Limited anti-tumor activity GAP pharmacological from plasm
Slide 28: Current standard of care: temozolomide (TMZ)
Current standard of care: temozolomide (TMZ) Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of Limited anti-tumor activity GAP pharmacological from plasma (CNS therapeutic effect from
Slide 29: Our answer
Our answer 29
Slide 30: Why Glioblastoma?
Why Glioblastoma? An external finding in 2020, published in 2022, was followed by a grant to the GlioPep Project in 2023 Prof L Uhrbom, Institution for Immunology, Genetics and Pathology reached out Grant from Swedish innovation agency Vinnova to the GlioPep project with a research consortium incl.
Slide 31: Viability in treated glioblastoma cell cultures
Viability in 29 treated glioblastoma cell cultures FGFR inhibitors WNT/ catenin inhibitors NOTCH inhibitors EGFR inhibitors PDGFR inhibitors Topo inhibitors Alkylators DNA methyltransferase DNA/RNA synth. inhib. Histone deacetylase inhib. TGF inhibitor Melflufen is one of the most efficacious drug
Slide 32: Potential of PDCs
Potential of PDCs Critical BBB passage confirmed • OPD5 has shown promising preclinical data with good activity at pharmacological concentrations • OPD5 has shown an efficient blood-brain barrier penetration and strong tumor reduction in preclinical models 32
Slide 33: Mitochondrial function critical
Mitochondrial function critical 33
Slide 34: Alkylating PDCs (Pepaxti, OPD5, OPDC3)
Alkylating PDCs (Pepaxti, OPD5, OPDC3) Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of Limited anti-tumor activity GAP pharmacological from plasma (CNS therapeutic effect from immun
Slide 35: In summary
In summary The Barrier: Our answer: Most drugs fail The PDC platform is because they can't designed to cross cross the Blood- the BBB (in vivo Brain Barrier (BBB). data/lipophilicity). Once inside, pre-clincial data strongly suggests that PDCs can overcome resistance through its’ dual Mode of Action
Slide 36: The Glioblastoma Window of Opportunity: a high reward leap
The Glioblastoma "Window of Opportunity”: a high reward leap Solving the #1 A smarter way to Low cost, Company challenge test massive impact transformation The "blood-brain Launching a For a relatively Our glioblastoma barrier" prevents focused study of low investment, program drives most drugs from
Slide 37: In closing
In closing © oncopeptides
Slide 38: Our potential
Our potential Unique opportunity: Targeting the $8B+ Glioblastoma market with cost- efficient "Window of Opportunity" study as next step Pipeline Transformative Smart leverage: Using melflufen as a clinical probe allows us to validate the potential mechanism at a low cost before committing to larger
Slide 39: os O © oncopeptides
39 os O © oncopeptides
Slide 40: Thank you for listening
40 Thank you for listening © oncopeptides
Slide 41: Bringing hope through science
Bringing hope through science © oncopeptides
Slide 42: Appendix: Glioblastoma
Appendix: Glioblastoma 42
Slide 43: Glioblastoma
»~ ~ > ‘‘ Glioblastoma © oncopeptides
Slide 44: Glioblastoma
Glioblastoma A brain tumor with high unmet need and growing market potential Most aggressive brain cancer – grows fast, invariably relapses, and has no cure. Rare but severe – affects about 3-4 people per 100,000 each year, usually above the age of 60. Glioblastoma Poor survival – even with treatmen
Slide 45: The barrier
The barrier © oncopeptides
Slide 46: The challenge
The challenge No major therapeutic breakthrough since TMZ approval in 2005 Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of Limited anti-tumor activity GAP pharmacological from plasm
Slide 47: Current standard of care: temozolomide (TMZ)
Current standard of care: temozolomide (TMZ) Temozolomide is standard of care. But has no efficacy in patients with upregulated DNA repair (MGMT) 47
Slide 48: Current standard of care: temozolomide (TMZ)
Current standard of care: temozolomide (TMZ) Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of Limited anti-tumor activity GAP pharmacological from plasma (CNS therapeutic effect from
Slide 49: Our answer
Our answer 49
Slide 50: Why Glioblastoma?
Why Glioblastoma? An external finding in 2020, published in 2022, was followed by a grant to the GlioPep Project in 2023 Prof L Uhrbom, Institution for Immunology, Genetics and Pathology reached out Grant from Swedish innovation agency Vinnova to the GlioPep project with a research consortium incl.
Slide 51: Viability in treated glioblastoma cell cultures
Viability in 29 treated glioblastoma cell cultures FGFR inhibitors WNT/ catenin inhibitors NOTCH inhibitors EGFR inhibitors PDGFR inhibitors Topo inhibitors Alkylators DNA methyltransferase DNA/RNA synth. inhib. Histone deacetylase inhib. TGF inhibitor Melflufen is one of the most efficacious drug
Slide 52: Gliopep project
Gliopep project GLIOPEP project: March 2023 – March 2026 • Drug development • Glioblastoma expertise • High-throughput drug • PDOX model expertise expertise • Ex vivo mouse model screening • In vivo model • Compound development development • Patient ex vivo model development • Lead optimization • Co
Slide 53: Potential of PDCs
Potential of PDCs Critical BBB passage confirmed • OPD5 has shown promising preclinical data with good activity at pharmacological concentrations • OPD5 has shown an efficient blood-brain barrier penetration and strong tumor reduction in preclinical models 53
Slide 54: Mitochondrial function critical
Mitochondrial function critical 54
Slide 55: Alkylating PDCs (Pepaxti, OPD5, OPDC3)
Alkylating PDCs (Pepaxti, OPD5, OPDC3) Blood BARRIER Sturdy Therapy Cold Brain Tumour Resistance Tumour Barrier Most agents exhibit no CLINICAL anti-tumor activity at Limited drug distribution Reduction of Limited anti-tumor activity GAP pharmacological from plasma (CNS therapeutic effect from immun
Slide 56: In summary
In summary The Barrier: Our answer: Most drugs fail The PDC platform is because they can't designed to cross cross the Blood- the BBB (in vivo Brain Barrier (BBB). data/lipophilicity). Once inside, pre-clincial data strongly suggests that PDCs can overcome resistance through its’ dual Mode of Action
Slide 57: Next steps
© oncopeptides
Slide 58: Overall success rate for glioblastoma therapy approval is ~1–2%
The overall success rate for bringing a glioblastoma therapy to approval is ~1–2%¹, reflecting a historically poor development track record, partly due to blood–brain barrier (BBB) delivery constraints². What is the most clever approach to enter clinic with a promising candidate in an indication lik
Slide 59: Glioblastoma Window of Opportunity study a high reward leap
Glioblastoma "Window of Opportunity” study a high reward leap Solving the #1 A Smarter Way Low Cost, Company Challenge to Test Massive Impact Transformation The "blood-brain Launching a For a relatively With 125% sales barrier" prevents focused study of low investment, growth in 2025, most drugs fro
Slide 60: © oncopeptides
© oncopeptides