Arovella Therapeutics Limited · ASX:ALA
Arovella Therapeutics — Non-Deal Roadshow (November 2025)
40 slides from Arovella Therapeutics's roadshow presentation, Nov 18, 2025
Slide 1: ASX Release: Investor Presentation
ASX: ALA Arovella Therapeutics Limited ACN 090 987 250 ASX Release 18 November 2025 INVESTOR PRESENTATION MELBOURNE, AUSTRALIA 18 November 2025: Arovella Therapeutics Ltd (ASX: ALA), a biotechnology company focused on developing its invariant Natural Killer T (iNKT) cell therapy platform, is pleased
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 November 2025
ASX:ALA For personal use only Investor Presentation November 2025
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 Off-the-Shelf iNKT Strong Cell Platform Leadership Group For personal use only Developing off-the-shelf iNKT Leadership team and Board cell therapies to target blood have proven experience in drug cancers and solid tumour development, particularly cell cancers therap
Slide 6: 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 7: Financial overview
Financial overview Financial Snapshot ALA Price and Volume - 12 Months1 ASX CODE ALA For personal use only Market capitalisation1 $107.97 million 40,000,000 Shares on issue 1,199.7 million $0.18 52-week low / high $0.068 / $0.210 30,000,000 Cash Balance (30 Sep, 2025) $21.9 million $0.12 Major Share
Slide 8: Recent cell therapy transactions
Recent cell therapy transactions1 Upfront Milestones Total deal Date Type of deal Acquirer/Licensee Target/Licensor Cell Type Stage (US$M) (US$M) value (US$M) Oct-25 Acquisition In vivo CAR Preclinical $1,500 $0 $1,500 Aug-25 Acquisition In vivo CAR Phase 1 $350 $0 $350 For personal use only Jun-25
Slide 9: Highlights for CY 2025 to date
Highlights for CY 2025 to date… Completed $15 million placement to fully fund enrolment and report For personal use only initial safety and efficacy data for the phase 1 trial for ALA-101 Cash and cash equivalents Successfully transferred the ALA-101 manufacturing process into cGMP at 30 September,
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: 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 16: 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 14
Slide 17: 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 TRIAL TRIAL For personal use only CD19 CAR-iNKT Early Lymphoma ALA-101 2026 CLDN18.2 CAR-iNKT Gastric cancer and pancreatic
Slide 18: 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 16
Slide 19: 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 20: 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 21: 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 22: 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 FDA (IND) / PHASE 1 CLINICAL PHASE 2 CLINICAL For personal use only ACQUISITION CONFIRMATION MANUFACTURING PLATFORM TGA (C
Slide 23: 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 Ethics approval for ALA-101-001 study in Australia ALA-101 (CD19 CAR-iNKT) Complete manufacturing of clinical batches of ALA-101 File IND applicat
Slide 24: 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 Up to 22 participants CD19+ lymphoma CD19+ lymphoma and leukaemia ALA-101 (CD19 CAR-iNKT) DL4 500M CAR-iNKT cells Dose(s
Slide 25: 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 23
Slide 26: 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 27: 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 28: 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 26
Slide 29: New CARs
New CARs Add additional CARs for novel targets Arovella’s manufacturing process can be leveraged for multiple cancer types MANUFACTURING For personal use only Expand to grow billions Isolate iNKT cells of CAR-iNKT cells ALA-105 (CLDN18.2 CAR-iNKT) Collect Healthy Engineer iNKT cells to Vial and free
Slide 30: 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 US in CLDN18.2 overexpression has been 2024 identified in several Gastric cancer types of cancers market alo
Slide 31: 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 32: 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 or other suitable regulator 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 lentiv
Slide 33: IL-12-TM (Solid Tumors): Armouring CAR-iNKT cells
For personal use only IL-12-TM (Solid Tumors) “Armouring” CAR-iNKT cells
Slide 34: Armouring CAR-iNKT cells
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 35: 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 36: Arovella's expanding pipeline
Arovella’s expanding pipeline For personal use only ASX:ALA 34
Slide 37: Upcoming milestones for FY2026
Upcoming milestones for FY2026 Jul Dec Jun 2025 2025 2026 For personal use only • Complete cGMP manufacture and IND enabling studies • Commence phase 1 study and generate initial data and file an IND application with US FDA for phase 1 from patients in early dose cohorts ALA-101 • Complete preparato
Slide 38: Summary
Summary Novel allogeneic Lead product progressing to CAR-iNKT cell platform clinical trials For personal use only iNKT cells serve as an excellent platform to ALA-101, a potential treatment for CD19- develop allogeneic, or “off-the-shelf”, cell expressing blood cancers, is being therapies to treat c
Slide 39: 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 40: 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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