Ernexa Therapeutics Inc. · NASDAQ:ERNA
Ernexa Therapeutics — Investor Presentation (December 2025)
31 slides from Ernexa Therapeutics's investor presentation, Dec 11, 2025
Slide 1: Ernexa Therapeutics: Modulating the Immune System Through Synthetic iMSC Therapies
ErneXa Therapeutics* Breaking Through Defenses, Delivering Hope Ernexa Therapeutics: Modulating the Immune System Through Synthetic Induced-Mesenchymal Stem Cell (iMSC) Therapies December 2025 ernexatx.com Nasdaq: ERNA
Slide 2: Safe Harbor Statement
Safe Harbor Statement ErneXa This presentation (this “Presentation”) and any oral statements made in connection with this Presentation are for informational purposes only and do not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any equity, debt or ot
Slide 3: Introduction & Company Overview
E: rneka Therapeutics* Breaking ThroughiDefensesDelgennalrtees Introduction & Company Overview
Slide 4: Providing Hope: Our Mission
Providing Hope Our Mission Transform the treatment of cancer and autoimmune disease by developing scalable, affordable, off-the-shelf cell therapies that restore hope. We envision a future where cell therapies powered by synthetic iMSCs can offer new options for patients with limited treatment paths
Slide 5: A Publicly Traded, Preclinical-Stage Company Developing Synthetic iMSC Therapies
Ernexa Therapeutics: A Publicly Traded, Preclinical-Stage Company Developing Synthetic iMSC Therapies For Oncology Indication Ea i ‘ ERNA-101 i: i = H ee + ERNA-201 is an allogeneic anti- inflammatory fusion cytokine (IL-7.1L-15)- |” ‘ ; me inflammatory cytokine IL-10 secreting secreting iMSC We + C
Slide 6: Pipeline Driving Next-Generation iMSC Therapies Across Cancer and Autoimmune Disease
/ Pipeline Driving Next-Generation iMSC Therapies Emext Across Cancer and Autoimmune Disease mexa Advancing Towards First-in-Human (FIH) Study With Lead Program ERNA-101 by 2H-2026 f Therapeutic _ Therapeutic a Upcoming ding a differentiated icing a a Laer iated Nes Indication Gauthier) Preclinical
Slide 7: Mesenchymal Stromal Cells (MSCs): The Body's Natural Repair Cells
Mesenchymal Stromal Cells (MSCs): E xe The Body’s Natural Repair Cells and Regulators of Immunity es? MSCs are multipotent, immune-modulating cells that traffic to inflamed/tumor tissue and can be engineered or loaded to deliver therapy ' Tumor-homing vehicle: MSCs localize to tumors and can carry t
Slide 8: Induced iMSCs: Overcoming the Limitations of Naturally Occurring MSCs
Induced iMSCs (iMSC): Overcoming the Limitations of Naturally Occurring MSCs Therapeutic Limitations of Naturally Occurring MSCs MSC Heterogeneity and Inconsistent Therapeutic Outcomes Limited Proliferative Capacity, and Early Senescence in Culture Poor In Vivo Persistence/Premature Clearance via Ho
Slide 9: Genetically-Engineered Synthetic iMSC Therapy
Induced iMSCs (iMSC): ot Genetically-Engineered “Synthetic” iMSC Therapy Ernexa ‘Synthetic RNA molecules* encoding Sy S Sy RNA-mediated reprogramming leaves reprogramming factors are vod no genomic “footprint transfected into these cells ==) — @ — —— Non-pluripotent cells These cells were culturedin
Slide 10: Next-Generation MSC Therapeutics Overcome the Limitations of Natural MSCs
Our Next-Generation MSC Therapeutics Overcome the Limitations “8 of Naturally Occurring MSCs & Add More Features to It Ermexa Next Generation Synthetic MSCs itologous | Allogeneic | 2020) | om) : ‘Commercially Available MSC Therapies ( Au BM-derived | Uc-derived | MSC Therapy | MSCs Therapy! Degener
Slide 11: ERNA-101: IL-7_IL-15 Secreting iMSC for Allogeneic Therapy
E: rneka Therapeutics* Breaking ThroughiDefensesDelgennalrtees ERNA-101: Pro-Inflammatory Fusion Cytokines (IL-7_IL-15) Secreting iMSC for Allogeneic Therapy
Slide 12: ERNA-101: Pro-Inflammatory Fusion Cytokines Secreting iMSC
ERNA-101: Pro-Inflammatory Fusion Cytokines (IL-7_IL-15) Secreting iMSC for Allogeneic Therapy ErneXa Demonstrated Promising Preclinical Results With 58.2% Survival Advantage Advancing Towards Phase 1 Study in Platinum-Resistant Ovarian Cancer (PROC) in 2H-2026 + 9 4 G Mechanism of Action Target Ind
Slide 13: A Significant Opportunity in Platinum-Resistant Ovarian Cancer
A Significant Opportunity in Platinum-Resistant Ovarian Cancer (PROC) PROC is a subset of recurrent ovarian cancer, defined by disease progression within six months after completing platinum-based chemotherapy Ovarian Cancer: Incidence: 20,890 (2025)' Prevalence: 243,572 (2022)' Incidence of PROC: P
Slide 14: Mechanism of Action of ERNA-101: Trojan Horse for Cancer
Mechanism of Action of ERNA-101: Leveraging the Intrinsic Tumor- o Homing Ability of MSCs to Create a Trojan Horse for Cancer Ermexa Solid Tumor + ERNA-101 consists of iMSCs engineered to secrete a novel immune- I ‘ enhancing fusion of the cytokines IL-7 and IL-15 (IL-7_IL-15) Y- ERNA-101 ¢ = + ERNA
Slide 15: iMSC Infiltration into the Tumor Micro-Environment
Was Observed in yet Tumor Micro-Environment (TME) ErneXa + Ovarian tumor-bearing mice were treated with PBS (no treatment control), iMSC-GFP (control iMSCs) or ERNA- 101 (IL7_IL15-iMSCs). Tumors were stained for human CD73 antibody to detect infiltration of iMSCs into the TME + Significant infiltrat
Slide 16: Infiltration of ERNA-101 in TME Resulted in Cytokine Accumulation
Infiltration of ERNA-101 in TME Resulted in - vt Into the TME ErneXa GFP-iMSC ERNA-101 * The migration of ERNA-101 to TME resulted in significant accumulation of the human IL7_IL15 fusion cytokine in the TME + No IL7_IL15 “fusikine” was identified in the TME of PBS and negative control iMSC- GFP tre
Slide 17: ERNA-101 Treatment Increases CD4 and CD8 T Cell Infiltration into the TME
ERNA-101 Treatment Leads to Significant Increase in CD4 and CD8 T Cell Infiltration into the TME PBS GFP-iMSC ERNA-101 EmeXa Visiopharm analysis of the CD4 and CD8 stained tumor tissues showed significant increase in both CD4 and CD8 T cell accumulation into the tumor following ERNA-101 2 . ry 2 8 t
Slide 18: ERNA-101 Treatment in Syngeneic Ovarian Cancer Model
ERNA-101 Treatment in Syngeneic Ovarian Cancer Model Ermexa Control GFP-iMSC ERNA 101 5x10? ~~ PBS @ 4x10°. 3 - GFP-iIMSC © 3x10°) + ERNA-101 3 & 210°. er @ 1*10° 0 —_ Day23 Day52_— Day 7 Days since tumor cell injection The spot in the Control group on Day 71 represents an animal from the group whic
Slide 19: ERNA-101 Injected Mice Have Prolonged (58.2%) Survival Advantage
ERNA-101 Injected Mice With Ovarian Cancer Have Prolonged (58.2%) Survival Advantage as Compared to Control Treatments Emexa Survival curve showing enhanced survival in ERNA-101 (FUS) treated mice bearing ID8 ovarian tumor representing advanced stage of the disease. The median survival of ERNA-101 w
Slide 20: Planned First-In-Human Phase 1 Study of ERNA-101 + Pembrolizumab and Bevacizumab
Planned First-In-Human Phase 1 Open Label, Single Arm “ Study of ERNA-101 + Pembrolizumab and Bevacizumab Ermexa ERNA-101 (IP) Monotherapy Dose-Escalation - Q3W ] 1 | | 1 2 3 4 5 6 7 8 9 10 1 12 Scan Scan Scan Biopsy Biopsy Biopsy Cycle 1 Cycle 2 Cycle 3 Cycle 4 Cycle 5 — Cycle 17 1 2 3 4 5 6 7 8 9
Slide 21: ERNA-201: IL-10 Secreting iMSC for Allogeneic Therapy
E: rneka Therapeutics* Breaking ThroughiDefensesDelgennalrtees ERNA-201: Anti-Inflammatory Cytokines (IL-10) Secreting iMSC for Allogeneic Therapy
Slide 22: ERNA-201: Anti-Inflammatory Cytokine (IL-10) Secreting iMSC
ERNA-201: Anti-Inflammatory Cytokine (IL-10) “ Secreting iMSC For Allogeneic Therapy ErneXa b+ | 9 4 Mechanism of Action Target Indications Current Developmental Activities Future Milestones ERNA-201 capitalizes on MSCs _Initial focus is to develop ERNA- We are engaged in Ernexa is anticipating a pr
Slide 23: Persistent Unmet Need in Rheumatoid Arthritis Despite Therapeutic Advances
Persistent Unmet Need in Rheumatoid Arthritis (RA) Despite Therapeutic Advances Ernexa Chronic, systemic autoimmune disease characterized by persistent joint inflammation, progressive tissue destruction, and loss of Limitations of Current Therapi function Incomplete Disease Control: RA: 30-40% of pa
Slide 24: ERNA-201 Selectively Homes to Inflammation and Delivers IL-10
ERNA-201 Selectively Home to the Site of Inflammation and ot Deliver Anti-Inflammatory IL-10: Putative Mechanism of Action Ermexa Anti-Inflammatory IL-10 ISO) Impressive efficacy as systemic jpicat™4%™ recombinant IL-10 therapy ; . in prectit! + ERNA-201 consists of iMSCs engineered to secrete anti-
Slide 25: Study of ERNA-201 in Rheumatoid Arthritis Mouse Model
Study of ERNA-201 in Rheumatoid Arthritis (RA) Mouse Model EmeXa Purpose: To determine if ERNA-201 treatment can decrease the severity of the arthritic phenotype in a CIA mouse model Timeline: Paw Score: Grouping Gilleunsion and Dose 1 Dose 3 IC-10_CGR2 0.5E6 (6 dose) vs 1.056 (1 dose) ad “© Untreat
Slide 26: Corporate Overview: Business Strategy and Key Takeaways
E: rneka Therapeutics* Breaking ThroughiDefensesDelgennalrtees Corporate Overview: Business Strategy and Key Takeaways
Slide 27: Trading Snapshot
Nasdaq: ERNA - Trading Snapshot ErneXa Low Float and Daily Trading Volume Position ERNA for Potential Growth $13.5M* Market Cap ‘As of November 04, 2025 3.5M* 7.67M Avg. Volume Shares As of November 04, 2025 Outstanding AAs of August 12, 2025 ~65% Held by Insiders “Management believes that as a deve
Slide 28: Management Team
Management Team Sanjeev Luther President and CEO Dorothy Clarke Robert Pierce, MD Chief Scientific Officer a Sandra Gurrola Kanika Chawla, Ph.D General Counsel Senior Vice President, Finance Senior Vice President, Technical ERMERCK —— Qconnenstone w& NOVARTIS Johnson&Johnson ito MyersSaubtt @ ceheat
Slide 29: Upcoming Near-Term Milestones Expected to Drive Value
Upcoming Near-Term Milestones Expected to Drive 1H-2026 |! 2H-2026 Ema Complete PoP = Complete Studies Manufacturing Oo Fieetehtemen eras Process Development + |e at MD Anderson IND Submission, Pre-IND Meeting with FDA Pre-IND Meeting with ‘Complete PoP studies FDA = First-in-Human IST IND Submissio
Slide 30: Investment Summary
Investment Summary ErneXa ° imei diMiodials | ERNA-101: | + Our iMSC based therapeutic platform allogeneic synthetic + Lead program entering FIM studies in 2026 has the potential to convert for PROC immunologically ‘cold’ tumors to ‘hot, cytokine-secreting iMSC- ‘ 0 Grrcclina aCe ET supporting expan
Slide 31: We Are Driving Towards Meaningful Outcomes
We Are Driving Towards Meaningful Outcomes; “ More Time for the Moments That Matter ErneXa + Despite decades of progress, outcomes for platinum- | O P resistant ovarian cancer remain devastating + Families carry the emotional burden We aim to change what it means to live with ovarian cancer, turning
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