Arovella Therapeutics Limited · ASX:ALA
Arovella Therapeutics — Euroz Hartleys 2026 Healthcare Forum
69 slides from Arovella Therapeutics's conference presentation, Feb 5, 2026
Slide 1: Euroz Hartleys 2026 Healthcare Forum Presentation (ASX Release)
ASX: ALA Arovella Therapeutics Limited ACN 090 987 250 ASX Release 5 February 2026 EUROZ HARTLEYS 2026 HEALTHCARE FORUM PRESENTATION Highlights: • Arovella presents at the Euroz Hartleys 2026 Healthcare Forum • Arovella conducting non-deal roadshow in Perth, Sydney and Melbourne MELBOURNE, AUSTRALIA
Slide 2: Notes to Editors: About Arovella Therapeutics
ASX: ALA Arovella Therapeutics Limited ACN 090 987 250 NOTES TO EDITORS: About Arovella Therapeutics Ltd Arovella Therapeutics Ltd (ASX: ALA) is a biotechnology company focused on developing its invariant natural killer T (iNKT) cell therapy platform from Imperial College London to treat blood cance
Slide 3: Investor Presentation - Euroz Hartleys 2026 Healthcare Forum
ASX:ALA For personal use only Investor Presentation Euroz Hartleys 2026 Healthcare Forum
Slide 4: Disclaimer
Disclaimer 1. The information in this presentation does not constitute personal investment advice. 4. Whilst this presentation is based on information from sources which are considered The presentation is not intended to be comprehensive or provide all information reliable, no representation or warr
Slide 5: Arovella's Investment Highlights
Arovella’s Investment Highlights U.S. FDA IND Accepted Off-the-Shelf iNKT for ALA-1011 Cell Platform For personal use only U.S. FDA IND secured for ALA- Developing off-the-shelf iNKT 101, and anticipate commencing cell therapies to target blood phase 1 clinical trials in FY 2026 cancers and solid tu
Slide 6: IND accepted by U.S. Food and Drug Administration (FDA)
IND accepted by U.S. Food and Drug Administration (FDA) ALA is progressing towards its phase 1 study for ALA-101 Provides regulatory validation of ALA-101’s For personal use only preclinical package, manufacturing process, Key operational and clinical development plan and regulatory ALA-101 (CAR19-i
Slide 7: Arovella's path to patient
Arovella’s path to patient TECHNOLOGY PRE-CLINICAL LENTIVIRUS MANUFACTURING PHASE 1 CLINICAL PHASE 2 CLINICAL PRODUCT FDA IND ACQUISITION CONFIRMATION MANUFACTURING PLATFORM TRIAL1 TRIAL For personal use only CD19 CAR-iNKT Lymphoma FY 2026 ALA-101 CLDN18.2 CAR-iNKT Gastric cancer and pancreatic canc
Slide 8: Recent cell therapy transactions
Recent cell therapy transactions1 Upfront Milestones Total deal Date Type of deal Acquirer/Licensee Target/Licensor Cell Type Stage (US$M) (US$M) value (US$M) Oct-25 Acquisition In vivo CAR Preclinical2 $1,500 $0 $1,500 Aug-25 Acquisition In vivo CAR Phase 1 $350 $0 $350 For personal use only Jun-25
Slide 9: A differentiated position
A differentiated position T cell and NK cell sectors are competitive For personal use only T cell iNKT cell NK cell Companies with T cell, NK cell, or iNKT cell therapy programs. ASX:ALA Source: Company analysis based on public information 7
Slide 10: About CAR-T cells
For personal use only About CAR-T cells 8
Slide 11: How original CAR-T cell therapies work
How original CAR-T cell therapies work CAR-T cell therapy is personalised medicine T cells = immune cell For personal use only T cells are a common type of immune cell that fight infections and can help fight cancer. T cells from patient ‘reprogrammed’ To generate autologous CAR-T cells, T cells are
Slide 12: Current CAR-T technology challenges and ALA's solution
Current CAR-T technology challenges ALA’s solution: One CAR-T product only treats the patient who supplied the T cells One CAR-iNKT batch from Manufacturing & supply a healthy donor treats multiple For personal use only T cell chain costs are high patients T cell Each manufacturing T cells can be co
Slide 13: Introducing invariant Natural Killer T (iNKT) cells
Introducing invariant Natural Killer T (iNKT) cells Bridging the innate and adaptive immune system For personal use only Innate Immunity Adaptive Immunity ASX:ALA 11
Slide 14: iNKT cells represent a next-generation cell therapy
iNKT cells represent a next-generation cell therapy Properties make them ideal for use in cell therapy Strong safety profile For personal use only Invariant receptor recognizes the same molecule (CD1d) in all people Innate Don’t cause graft versus host disease (GvHD)1 Immunity Front line of the
Slide 15: ALA-101 (CAR19-iNKT cells)
For personal use only ALA-101 (CAR19-iNKT cells) A next generation off-the-shelf cell therapy for CD19 expressing cancers 13
Slide 16: ALA-101 is highly effective at killing cancer cells
ALA-101 is highly effective at killing cancer cells In preclinical studies, ALA-101 has superior activity over standard CAR-T therapies ALA-101 significantly increases PBS T iNKT CAR19-T ALA-101 For personal use only survival in mice versus treatment Ventral with CAR19-T cells 3 Days Tumour cells
Slide 17: Clinic-ready manufacturing process developed
Clinic-ready manufacturing process developed Semi-automated process suitable for large-scale and late-phase clinical development TECHNOLOGY PRE-CLINICAL LENTIVIRUS MANUFACTURING PHASE 1 CLINICAL PHASE 2 CLINICAL FDA IND For personal use only ACQUISITION CONFIRMATION MANUFACTURING PLATFORM TRIAL TRIA
Slide 18: Taking ALA-101 into first-in-human trials
Taking ALA-101 into first-in-human trials ALA is progressing towards its ALA-101-001 phase 1 study First patient dosed with ALA-101 For personal use only First patient successfully enrolled into the study ALA-101 (CD19 CAR-iNKT) First patient screened for participation in the study Complete clinical
Slide 19: ALA-101-001: study design
ALA-101-001: study design Part 1 Part 2 Dose escalation Dose expansion For personal use only 4 dose levels Dose levels selected from Part 1 13-21 participants expected* ~22 additional participants expected* CD19+ lymphoma CD19+ lymphoma and leukaemia ALA-101 (CD19 CAR-iNKT) DL4 500M CAR-
Slide 20: iNKT cells to target solid tumours
iNKT cells to target solid tumours For personal use only Arovella is implementing its strategy to target and kill solid tumours – 90% of newly diagnosed cancer cases1 1. https://www.cancer.gov/types/common-cancers 18
Slide 21: iNKT cells are well placed to tackle solid tumours
iNKT cells are well placed to tackle solid tumours iNKT cells have features that may make them useful for treating solid tumours For personal use only Naturally target cancer Infiltrate tumours and have markers and are prognostic NKG2DL shown promising clinical data for survival CD1d in human solid
Slide 22: Arovella's strategies to combat solid tumours
Arovella’s strategies to combat solid tumours Arovella is using three approaches to expand the iNKT cell platform into solid tumours For personal use only License novel Armour Create unique cancer targets iNKT cells partnerships Identify and license Enhance the Create partnerships to new targets tha
Slide 23: ALA-105 (CLDN18.2 CAR-iNKT)
For personal use only ALA-105 (CLDN18.2 CAR-iNKT) A clinically validated target that is expressed in several solid tumour types 21
Slide 24: Introducing Claudin 18.2 (CLDN18.2)
Introducing Claudin 18.2 (CLDN18.2) A promising solid tumour target For personal use only Validated target with first monoclonal antibody ALA-105 (CLDN18.2 CAR-iNKT) approved in Japan and the U.S. CLDN18.2 overexpression has been in 2024 identified in several Gastric cancer types of cancers market a
Slide 25: Arovella's CLDN18.2-targeting CAR is highly active
Arovella’s CLDN18.2-targeting CAR is highly active The CLDN18.2 CAR derived from SPX-101 mediates potent cytotoxicity in T cells For personal use only The activity of Arovella’s newly created CLDN18.2 CAR was tested in T cells for the ALA-105 (CLDN18.2 CAR-iNKT) ability to kill pancreatic cancer c
Slide 26: Taking ALA-105 to IND filing
Taking ALA-105 to IND filing ALA is progressing nonclinical development of ALA-105 File IND with the FDA For personal use only Complete IND-enabling studies ALA-105 (CLDN18.2 CAR-iNKT) Complete Process Development to manufacture ALA-105 Manufacture GMP CLDN18.2 CAR lentivirus Test CLDN18.2 CAR-iNKT
Slide 27: Arovella's expanding pipeline
Arovella’s expanding pipeline For personal use only ALA-101 ALA-105 Upcoming Commence phase 1 clinical trial Generate preclinical data for the Milestones for patients with CD19-positive CLDN18.2 CAR in iNKT cells with lymphoma and leukaemia the addition of IL-12-TM armour ASX:ALA 25
Slide 28: Investment highlights
Investment highlights ALA-101 (CAR19-iNKT) ALA-105 (CLDN18.2 CAR-iNKT) For personal use only • Clinic ready, following U.S. FDA • Promising data generated for acceptance of the IND, validating Arovella’s CAR targeting CLDN18.2 preclinical and manufacturing data • The CAR will be incorporated into iN
Slide 29: Financial overview
Financial overview Financial Snapshot ALA Price and Volume - 12 Months1 ASX CODE ALA For personal use only Market capitalisation1 $104.58 million 40,000,000 Shares on issue 1,202.1 million $0.18 52-week low / high $0.068 / $0.1950 30,000,000 Cash Balance (31 Dec, 2025) $19.4 million $0.12 Major Shar
Slide 30: Thank You
ASX:ALA For personal use only Thank You Dr. Michael Baker CEO & Managing Director Email: investor@arovella.com Mobile: +61 403 468 187
Slide 31: Cell therapy deal references
Cell therapy deal references 1. https://news.bms.com/news/corporate-financial/2025/Bristol-Myers-Squibb-Strengthens-and-Diversifies-Cell-Therapy-Portfolio-with-Acquisition-of-Orbital- Therapeutics/default.aspx 2. https://interiusbio.com/press-release/kite-to-acquire-interius-biotherapeutics-to-advan
Slide 32: Non-deal roadshow – February 2026
ASX:ALA For personal use only Investor Presentation Non-deal roadshow – February 2026
Slide 33: Disclaimer
Disclaimer 1. The information in this presentation does not constitute personal investment advice. 4. Whilst this presentation is based on information from sources which are considered The presentation is not intended to be comprehensive or provide all information reliable, no representation or warr
Slide 34: Arovella's Investment Highlights
Arovella’s Investment Highlights U.S. FDA IND Accepted Off-the-Shelf iNKT for ALA-1011 Cell Platform For personal use only U.S. FDA IND secured for ALA- Developing off-the-shelf iNKT 101, and anticipate commencing cell therapies to target blood phase 1 clinical trials in FY 2026 cancers and solid tu
Slide 35: IND accepted by U.S. Food and Drug Administration (FDA)
IND accepted by U.S. Food and Drug Administration (FDA) ALA is progressing towards its phase 1 study for ALA-101 Provides regulatory validation of ALA-101’s For personal use only preclinical package, manufacturing process, Key operational and clinical development plan and regulatory ALA-101 (CAR19-i
Slide 36: Arovella's path to patient
Arovella’s path to patient TECHNOLOGY PRE-CLINICAL LENTIVIRUS MANUFACTURING PHASE 1 CLINICAL PHASE 2 CLINICAL PRODUCT FDA IND ACQUISITION CONFIRMATION MANUFACTURING PLATFORM TRIAL1 TRIAL For personal use only CD19 CAR-iNKT Lymphoma FY 2026 ALA-101 CLDN18.2 CAR-iNKT Gastric cancer and pancreatic canc
Slide 37: Recent cell therapy transactions
Recent cell therapy transactions1 Upfront Milestones Total deal Date Type of deal Acquirer/Licensee Target/Licensor Cell Type Stage (US$M) (US$M) value (US$M) Oct-25 Acquisition In vivo CAR Preclinical2 $1,500 $0 $1,500 Aug-25 Acquisition In vivo CAR Phase 1 $350 $0 $350 For personal use only Jun-25
Slide 38: A differentiated position
A differentiated position T cell and NK cell sectors are competitive For personal use only T cell iNKT cell NK cell Companies with T cell, NK cell, or iNKT cell therapy programs. ASX:ALA Source: Company analysis based on public information 7
Slide 39: About CAR-T cells
For personal use only About CAR-T cells 8
Slide 40: How original CAR-T cell therapies work
How original CAR-T cell therapies work CAR-T cell therapy is personalised medicine T cells = immune cell For personal use only T cells are a common type of immune cell that fight infections and can help fight cancer. T cells from patient ‘reprogrammed’ To generate autologous CAR-T cells, T cells are
Slide 41: Cell Therapy has revolutionised blood cancer treatment
Cell Therapy has revolutionised blood cancer treatment CAR-T cells have demonstrated their curative potential in blood cancers For personal use only Cure Product Approval Year 2024 Revenue CAR-T cells have demonstrated ability to 2017 US$1570m3 cure haematological cancers 2017 US$442m4 Strong 2021 U
Slide 42: Current CAR-T technology challenges and ALA's solution
Current CAR-T technology challenges ALA’s solution: One CAR-T product only treats the patient who supplied the T cells One CAR-iNKT batch from Manufacturing & supply a healthy donor treats multiple For personal use only T cell chain costs are high patients T cell Each manufacturing T cells can be co
Slide 43: Introducing invariant Natural Killer T (iNKT) cells
Introducing invariant Natural Killer T (iNKT) cells Bridging the innate and adaptive immune system For personal use only Innate Immunity Adaptive Immunity ASX:ALA 12
Slide 44: iNKT cells represent a next-generation cell therapy
iNKT cells represent a next-generation cell therapy Properties make them ideal for use in cell therapy Strong safety profile For personal use only Invariant receptor recognizes the same molecule (CD1d) in all people Innate Don’t cause graft versus host disease (GvHD)1 Immunity Front line of the
Slide 45: CAR-iNKT cells have multiple ways to kill cancer cells
CAR-iNKT cells have multiple ways to kill cancer cells Also recruit ‘good’ immune cells and block ‘bad’ immune cells Multiple ways to kill cancer cells For personal use only ENGINEERED TARGETING Via the CAR: Specific target depending on tumour type NATURAL TARGETING Via the NKG2D pathway: NKG2D liga
Slide 46: ALA-101 (CAR19-iNKT cells)
For personal use only ALA-101 (CAR19-iNKT cells) A next generation off-the-shelf cell therapy for CD19 expressing cancers 15
Slide 47: ALA-101: enhanced tumour killing in vivo
ALA-101: enhanced tumour killing in vivo ALA-101 rapidly eradicates tumour cells in mice Tumour cells expressing CD19 and PBS T iNKT CAR19-T ALA-101 For personal use only CD1d were intravenously delivered into mice Mice were treated with: Ventral ALA-101 (CAR19-iNKT) PBS (saline) Day 0 Unmod
Slide 48: ALA-101: next generation cell therapy
ALA-101: next generation cell therapy ALA-101 significantly increased survival in mice versus treatment with CAR19-T cells Tumour cells positive for CD19 and CD1d were For personal use only intravenously delivered into mice Mice were treated with: P <0.01 PBS (saline) ALA-101 (CAR19-iNKT) Un
Slide 49: ALA-101: spontaneous secondary remission
ALA-101: spontaneous secondary remission ALA-101 activity may persist to eradicate tumour cells following relapse For personal use only Four mice treated with ALA-101 had Ventral the cancer return to the brain In all four mice, the cancer was ALA-101 (CAR19-iNKT) eliminated a second time with no
Slide 50: Clinic-ready manufacturing process developed
Clinic-ready manufacturing process developed Semi-automated process suitable for large-scale and late-phase clinical development TECHNOLOGY PRE-CLINICAL LENTIVIRUS MANUFACTURING PHASE 1 CLINICAL PHASE 2 CLINICAL FDA IND For personal use only ACQUISITION CONFIRMATION MANUFACTURING PLATFORM TRIAL TRIA
Slide 51: Taking ALA-101 into first-in-human trials
Taking ALA-101 into first-in-human trials ALA is progressing towards its ALA-101-001 phase 1 study First patient dosed with ALA-101 For personal use only First patient successfully enrolled into the study ALA-101 (CD19 CAR-iNKT) First patient screened for participation in the study Complete clinical
Slide 52: ALA-101-001: study design
ALA-101-001: study design Part 1 Part 2 Dose escalation Dose expansion For personal use only 4 dose levels Dose levels selected from Part 1 13-21 participants expected* ~22 additional participants expected* CD19+ lymphoma CD19+ lymphoma and leukaemia ALA-101 (CD19 CAR-iNKT) DL4 500M CAR-
Slide 53: iNKT cells to target solid tumours
iNKT cells to target solid tumours For personal use only Arovella is implementing its strategy to target and kill solid tumours – 90% of newly diagnosed cancer cases1 1. https://www.cancer.gov/types/common-cancers 22
Slide 54: iNKT cells are well placed to tackle solid tumours
iNKT cells are well placed to tackle solid tumours iNKT cells have features that may make them useful for treating solid tumours For personal use only Naturally target cancer Infiltrate tumours and have markers and are prognostic NKG2DL shown promising clinical data for survival CD1d in human solid
Slide 55: Arovella's strategies to combat solid tumours
Arovella’s strategies to combat solid tumours Arovella is using three approaches to expand the iNKT cell platform into solid tumours For personal use only License novel Armour Create unique cancer targets iNKT cells partnerships Identify and license Enhance the Create partnerships to new targets tha
Slide 56: ALA-105 (CLDN18.2 CAR-iNKT)
For personal use only ALA-105 (CLDN18.2 CAR-iNKT) A clinically validated target that is expressed in several solid tumour types 25
Slide 57: Introducing Claudin 18.2 (CLDN18.2)
Introducing Claudin 18.2 (CLDN18.2) A promising solid tumour target For personal use only Validated target with first monoclonal antibody ALA-105 (CLDN18.2 CAR-iNKT) approved in Japan and the U.S. CLDN18.2 overexpression has been in 2024 identified in several Gastric cancer types of cancers market a
Slide 58: Arovella's CLDN18.2-targeting CAR is highly active
Arovella’s CLDN18.2-targeting CAR is highly active The CLDN18.2 CAR derived from SPX-101 mediates potent cytotoxicity in T cells For personal use only The activity of Arovella’s newly created CLDN18.2 CAR was tested in T cells for the ALA-105 (CLDN18.2 CAR-iNKT) ability to kill pancreatic cancer c
Slide 59: Taking ALA-105 to IND filing
Taking ALA-105 to IND filing ALA is progressing nonclinical development of ALA-105 File IND with the FDA For personal use only Complete IND-enabling studies ALA-105 (CLDN18.2 CAR-iNKT) Complete Process Development to manufacture ALA-105 Manufacture GMP CLDN18.2 CAR lentivirus Test CLDN18.2 CAR-iNKT
Slide 60: IL-12-TM (Solid Tumors): Armouring CAR-iNKT cells
For personal use only IL-12-TM (Solid Tumors) “Armouring” CAR-iNKT cells
Slide 61: Armouring CAR-iNKT cells with IL-12-TM
ARMOURING “Armouring” CAR-iNKT cells IL-12-TM (cytokine technology) enhances CAR-iNKT cell activity in solid tumours For personal use only iNKT cells IL-12-TM IL-12-TM IL-12-TM (Armouring for Solid Tumours) Expand more 10x more Superior IL-12-TM is a modified and survive for circulating antitumour v
Slide 62: Key benefits of IL-12-TM for CAR-iNKT cells
Key benefits of IL-12-TM for CAR-iNKT cells IL-12-TM enhances antitumor activity of CAR-iNKT cells Tumour cells positive for GD2 and were For personal use only intravenously delivered into mice before treatment with CAR-iNKT cells IL-12-TM (Armouring for Solid Tumours) Mice were treated with:
Slide 63: Arovella's expanding pipeline
Arovella’s expanding pipeline For personal use only ALA-101 ALA-105 Upcoming Commence phase 1 clinical trial Generate preclinical data for the Milestones for patients with CD19-positive CLDN18.2 CAR in iNKT cells with lymphoma and leukaemia the addition of IL-12-TM armour ASX:ALA 32
Slide 64: Investment highlights
Investment highlights ALA-101 (CAR19-iNKT) ALA-105 (CLDN18.2 CAR-iNKT) For personal use only • Clinic ready, following U.S. FDA • Promising data generated for acceptance of the IND, validating Arovella’s CAR targeting CLDN18.2 preclinical and manufacturing data • The CAR will be incorporated into iN
Slide 65: Strong Leadership Team
Strong Leadership Team SENIOR MANAGEMENT TEAM For personal use only Dr Michael Baker Dr Nicole van der Weerden Dr Robson Dossa Dr Michelle Ferguson Jacqueline Cumming CEO & MANAGING DIRECTOR CHIEF OPERATING OFFICER VP MANUFACTURING & QUALITY SENIOR DIRECTOR RESEARCH & SENIOR DIRECTOR CLINICAL DEVELO
Slide 66: Financial overview
Financial overview Financial Snapshot ALA Price and Volume - 12 Months1 ASX CODE ALA For personal use only Market capitalisation1 $104.58 million 40,000,000 Shares on issue 1,202.1 million $0.18 52-week low / high $0.068 / $0.1950 30,000,000 Cash Balance (31 Dec, 2025) $19.4 million $0.12 Major Shar
Slide 67: Notes
For personal use only ASX:ALA Notes 36
Slide 68: Thank You
ASX:ALA For personal use only Thank You Dr. Michael Baker CEO & Managing Director Email: investor@arovella.com Mobile: +61 403 468 187
Slide 69: Cell therapy deal references
Cell therapy deal references 1. https://news.bms.com/news/corporate-financial/2025/Bristol-Myers-Squibb-Strengthens-and-Diversifies-Cell-Therapy-Portfolio-with-Acquisition-of-Orbital- Therapeutics/default.aspx 2. https://interiusbio.com/press-release/kite-to-acquire-interius-biotherapeutics-to-advan
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