Transcode Therapeutics, Inc. · NASDAQ:RNAZ

Transcode Therapeutics — Investor Presentation (October 2025)

35 slides from Transcode Therapeutics's investor presentation, Oct 8, 2025

  1. Slide 1: Unique Metastatic Cancer and Vaccine Immuno-Oncology Treatment Company to Redefine Cancer Care

    E UNIQUE METASTATIC CANCER AND VACCINE IMMUNO - ONCOLOGY TREATMENT COMPANY TO REDEFINE CANCER CARE NASDAQ: RNAZ Exhibit 99.2

  2. Slide 2: Mission

    We are pioneering complementary approaches that redefine the boundaries of oncology innovation — from RNA - targeted therapeutics that precisely reach tumors to vaccine immunotherapies that mobilize the immune system to recognize and destroy cancer cells. 2 Mission Company

  3. Slide 3: Forward Looking Statement

    Forward Looking Statement Company 3 Before you invest in the securities of TransCode Therapeutics, Inc. (“ TransCode ” or the “Company”), you should read TransCode’s filings with the U.S. Securities and Exchange Commission (“SEC”) for more complete information about the Company. You can obtain these

  4. Slide 4: Important Additional Information and Where to Find It

    Important Additional Information and Where to Find It Company 4 The Company, its directors and certain of its executive officers are deemed to be participants in the solicitation of proxies fr om the Company’s stockholders in connection with the Company’s expected special meeting seeking stockholder

  5. Slide 5: Background

    Background Company 5 Developed TTX - MC138, a targeted therapeutic to microRNA - 10b. Currently Phase 2 ready TTX - MC138 Acquired Seviprotimut - L - a novel polyvalent shed antigens vaccine for the adjuvant treatment of melanoma. Currently Phase 3 ready Seviprotimut - L Developed and optimized TTX,

  6. Slide 6: Experienced Management and Board of Directors

    Experienced Management and Board of Directors 6 Tom Fitzgerald, MBA CFO; Director 30+ years experience in investment banking and managing emerging growth companies, turnarounds and Fortune 500 companies Zdravka Medarova , PhD Founder and CSO Internationally recognized geneticist and non - coding RNA

  7. Slide 7: Leading Advisors with Oncology and RNA Expertise

    Leading Advisors with Oncology and RNA Expertise 7 Keith Flaherty, MD Professor of Medicine & Director of Clinical Research Mass General Cancer Center Lubo Nechev , PhD Chief CMC Officer Alnylam Pharmaceuticals Dejan Juric , MD Director, Termeer Center for Targeted Therapies Massachusetts General Ho

  8. Slide 8: Critical Need for Effective Therapies Targeting Advanced Cancer

    Critical Need for Effective Therapies Targeting Advanced Cancer Problem 8 >90% of Cancer Deaths Due to Advanced Disease Advanced Cancer Reduces 5 - year Survival Key Challenge to Treatment Dissemination to distant sites, immune evasion, resistance Global Market by 2032* $120 - 250B *Source: 2019 Ame

  9. Slide 9: Pipeline Multiple Modalities

    Pipeline Multiple Modalities 9

  10. Slide 10: Tunable Drug Design Engine TTX

    Tunable Drug Design Engine TTX 10 Payload diversity S ize Smart release linkers Enhanced targeting Nanometers Microns Non - cleavable pH sensitive Tissue - specific Time - sensitive Polymers Biomolecules (e.g. glucose) mAbs Peptides Tunable Platform Customizable to desired size, payload and pharmaco

  11. Slide 11: TTX-MC138 Lead Candidate

    TTX - MC138 Lead Candidate 1 1 TTX - MC138 L ead Therapeutic Candidate: AntagomiR targeting microRNA - 10b

  12. Slide 12: microRNA-10b: A Driver of Metastasis

    microRNA - 10b: A Driver of Metastasis Target Clinical evidence demonstrated in >300 peer - reviewed publications over the last ten years • Biomarker of metastasis, higher cancer risk and poor survival outcomes • Linked to metastatic progression in multiple cancer indications including breast, color

  13. Slide 13: TTX-MC138 Lead Candidate

    TTX - MC138 Lead Candidate 1 3 Type: Nucleic acid - based therapeutic designed to bind to a specific microRNA and block its function Target: microRNA - 10b, a master regulator of metastatic cancer Mechanism : inhibiting microRNA - 10b blocks multiple cancer pathways Indication : advanced solid tumor

  14. Slide 14: TTX-MC138: Designed to Inhibit miR-10b and Eliminate Metastasis

    TTX - MC138: Designed to Inhibit miR - 10b and Eliminate Metastasis MOA Cancer Res 75, 4407 - 4415 (2015); Sci Rep 7, 45060 (2017) TTX - MC138 microRNA - 10b TTX - MC138 binds to miR - 10b target inside tumor cells causing its inhibition TTX - MC138 Metastatic Lesion Inhibition of miR - 10b has been

  15. Slide 15: TTX-MC138 - Evidence Of Durable Regressions (Murine Models)

    TTX - MC138 - Evidence Of Durable Regressions (Murine Models) Lead Candidate 15 In mice treated with TTX - MC138 100% (Stage II/III) and 65% (Stage IV) animals regressed disease completely without recurrence for the rest of their natural lives

  16. Slide 16: TTX-MC138 Clinical Development Plan: Metastatic Disease

    TTX - MC138 Clinical Development Plan: Metastatic Disease Lead Candidate 16 Phase 1a (All Comers)** Dose Escalation Near Completion Phase 2a ( Micrometastatic Disease) *** Dose Expansion Phase 2 (First Indication TBD ) Phase 0 Microdose* 2027 2026 2025 2024 2023 * Radiolabeled ** Advanced Solid Tumo

  17. Slide 17: Radiolabeled TTX-MC138 Phase 0

    Radiolabeled TTX - MC138 Phase 0 Purpose & Results Phase 0 17 Delivery PK Target Engagement Safety & Tolerability Successful Delivery to Metastatic Lesions - PET - MRI imaging confirmed accumulation in metastatic tumors Pharmacokinetic Consistency - Drug circulation and tissue distribution similar t

  18. Slide 18: TTX-MC138 Accumulation in Metastatic Lesions Confirmed

    TTX - MC138 Accumulation in Metastatic Lesions Confirmed Phase 0 18 FDG PET - MRI TTX - MC138 PET - MRI Phase 0 microdosing study with radiolabeled TTX - MC138 Stage IV, metastatic breast cancer. Metastatic sites: bone, liver, lungs PET/MRI at 2, 3, 6 and 24 hours post - dosing shows TTX - MC138 acc

  19. Slide 19: TTX-MC138 Clinical Development Plan for Metastatic Cancers

    TTX - MC138 Clinical Development Plan for Metastatic Cancers 19 Phase 1a Phase 2a Phase 2 (Escalating Dose Levels) Indications: Advanced solid tumors Design: Bayesian Optimal Interval (BOIN) Endpoints: Safety & PK Status: 16 enrolled and treated Results: Enrollment complete Preliminary results pendi

  20. Slide 20: Seviprotimut-L Lead Candidate

    Seviprotimut - L Lead Candidate 20 Seviprotimut - L L ead Therapeutic Candidate: Cancer Vaccine

  21. Slide 21: Seviprotimut-L Lead Candidate

    Seviprotimut - L Lead Candidate 21 Seviprotimut - L is a novel polyvalent shed antigens vaccine for the adjuvant treatment of Stage IIB and IIC melanoma patients 60 years and younger • FDA “Orphan Drug” status • Successful completion of adaptive Phase 3 clinical trial “MAVIS” • FDA “Fast Track” desi

  22. Slide 22: Seviprotimut-L Lead Candidate

    Seviprotimut - L Lead Candidate 22 Seviprotimut - L is an allogeneic, polyvalent, partially purified shed melanoma antigens vaccine (alum adjuvanted) derived from three proprietary human melanoma cell lines Melanoma cells are grown in bioreactors and cellular and melanoma - associated proteins (e .

  23. Slide 23: Seviprotimut-L - Mechanism of Action

    Seviprotimut - L - Mechanism of Action Lead Candidate 23 Melanoma - associated antigens (MAAs) found in seviprotimut - L are taken up by antigen - presenting cells (e . g . , dendritic cells) which then activate the production of antigen - specific cytotoxic T - lymphocytes (CTLs) as well as develop

  24. Slide 24: Seviprotimut-L: Clinical Trial Design

    Seviprotimut - L: Clinical Trial Design Phase 3 24 40µg seviprotimut N=33 Randomization 1:1:1 Lead in to… 100µg seviprotimut N=33 Placebo N=33 Part A: Safety, Bioactivity and Dose Selection Part B (B1 & B2) : Safety and Efficacy (RFS, OS) Randomization 2:1 40µg seviprotimut N B1=347 N B2=800 Placebo

  25. Slide 25: Seviprotimut-L: Clinical Trial Design

    Seviprotimut - L: Clinical Trial Design Phase 3 25 Key MAVIS Study Design Elements Study Drug • 40 µg seviprotimut (0.8 mL suspension containing 0.05 mg/mL drug substance – shed antigens – plus 20 mg/mL alum in 0.9% saline. Placebo does not include shed antigens) Study Population • Ages 18 to 80, fe

  26. Slide 26: Seviprotimut-L: MAVIS Part A Bioactivity

    Seviprotimut - L: MAVIS Part A Bioactivity Phase 3 26 0 10 20 30 40 50 ≥ 25 ≥ 20 ≥ 15 ≥ 10 ≥ 5 Percent (%) Patients Meeting or Exceeding Immune Response Criteria Immune Response Criteria (%) Baseline versus 10 weeks Difference of Percents: Experimental minus Control (exact 80% CI) -30 -20 -10 0 10 2

  27. Slide 27: Seviprotimut-L: MAVIS Part B1, Enrollment & Safety

    Seviprotimut - L: MAVIS Part B1, Enrollment & Safety Phase 3 27 Enrollment and Adverse Events Total Placebo Seviprotimut - L 347 117 230 N 96% 97% 96% AEs 11% 9% 12% Grade 3 AEs 71% 73% 70% Rx - related AEs 0.9% 0.9% 0.9% AEs leading to d/c study drug 0.3% 0% 0.4% Rx - related AEs leading to d/c stu

  28. Slide 28: Seviprotimut-L: MAVIS Part B1, Efficacy Results

    Seviprotimut - L: MAVIS Part B1, Efficacy Results Phase 3 28 Age can decrease immune competence; thus, outcomes were assessed by age (<60 and ≥60), for all randomized patients and the Stage IIB/IIC subset. RFS was longer with vaccine for all patients age <60 (N=191, HR 0.64, 95% CI [0.38, 1.08]) and

  29. Slide 29: Seviprotimut-L: MAVIS Part B1, Efficacy Results

    Seviprotimut - L : MAVIS Part B1, Efficacy Results Phase 3 29 The planned subgroup analysis of Stage IIB/IIC patients (n = 111) revealed trends to longer RFS (HR 0.65 [0.37,1.17]), and OS (HR 0.37[0.13, 1.06]) with seviprotimut - L . RFS, Stage IIB/IIC patients OS, Stage IIB/IIC patients

  30. Slide 30: Seviprotimut-L: Competitive Assessment

    Seviprotimut - L: Competitive Assessment Potential 30 Two checkpoint inhibitors have shown efficacy for the adjuvant treatment of melanoma in Stage IIB and IIC patients at risk for disease recurrence: Keytruda (Merck) and Opdivo (BMS) have both been approved Advantages of Seviprotimut - L over check

  31. Slide 31: IP Portfolio

    IP Portfolio 31 Notes Patents/Applications Expiration Technology Delivery platform for drug design engine . Covers TTX - MC138 WO2021/113829 2040 Compositions and Methods for Tunable Magnetic Nanoparticles IO candidate WO2022/147177 2041 Template Directed Immunomodulation for Cancer Therapy Notes Pa

  32. Slide 32: TransCode Company Timeline: Achievements & Milestones

    TransCode Company Timeline: Achievements & Milestones 2016 Company Formation License obtained from Massachusetts General Hospital eIND - FDA Study May Proceed with Phase 0 clinical trial with radiolabeled TTX - MC138 . IND - FDA Study May Proceed with Phase 1a with TTX - MC138 Phase 0 (radiolabeled

  33. Slide 33: The Next Months Timeline

    The Next 18 Months Timeline 33 2026 2H:2025 Phase 2a (TTX - MC138) study initiation Phase 1a (TTX - MC138) Dose Escalation Completion and data analysis Phase 2a (TTX - MC138) Dose Expansion FDA Protocol Submission and IRB Review Clinical Goals Initiate Enrollment in Phase 2a ( TTX - MC138) Dose Expa

  34. Slide 34: Publications

    Publications 34 • Yoo B, Fuchs BC and Medarova Z: New Directions in the Study and Treatment of Metastatic Cancer. Frontiers in Oncology Volume 8, Article 258, July 2018 • Yoo B, Kavishwar , A, Wang, P, Ross, A, Pantazopoulos,P Dudley, M, Moore, A, & Medarova , Z: Therapy targeted to the metastatic n

  35. Slide 35: TransCode

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