Virax Biolabs Group Limited · NASDAQ:VRAX
Virax Biolabs — Investor Presentation (September 2026)
20 slides from Virax Biolabs's investor presentation, September 2026
Slide 1: Investor Presentation Q3 2026
Investor Presentation Q3 2026 NASDAQ : VRAX
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward-looking statements. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events
Slide 3: Virax Biolabs: Building a new category of immune diagnostics
Virax Biolabs: Building a new category of immune diagnostics Large unmet need Differentiated biology Defined pathways Capital discipline Post-Acute Infection UK clinical and IVD Syndromes (“PAIS”), such as Functional T cell immune Strengthened balance sheet development provides the Long COVID, lack
Slide 4: PAIS conditions: A large, under-served diagnostic category
PAIS conditions: A large, under-served diagnostic category The clinical gap Long Expert estimates suggest an economic burden exceeding Millions of patients are affected by post- acute infection syndromes including Long COVID $25B in the U.S. alone.(1-3) Covid (also referred to as PASC in U.S. resear
Slide 5: ViraxImmune: Functional immune profiling designed for PAIS
ViraxImmune : Functional immune profiling designed for PAIS Designed to measure cellular immune dysfunction patterns rather than rely on symptoms alone. 1 2 3 4 5 Blood PBMC Antigen Cytokine Immune sample isolation stimulation readout profile Whole blood Peripheral blood Cells stimulated FluoroSpot
Slide 6: ViraxImmune: Potential clinical and economic utility
ViraxImmune : Potential clinical and economic utility Target immune profile detected Target immune profile not detected Not detected: The defined T cell dysfunction profile being Detected: The defined T cell dysfunction profile being evaluated in PAIS is not detected. evaluated in PAIS is detect
Slide 7: ViraxImmune: Clinical Evidence Strategy Supporting Market Entry
ViraxImmune : Clinical Evidence Strategy Supporting Market Entry Current UK evidence foundation Potential U.S. clinical Focused on establishing the clinical evidence required for evidence programme UK IVD and U.S. LDT implementation. Intended to generate U.S. clinical evidence that may inform LDT im
Slide 8: ViraxImmune: Planned U.S. market entry via CLIA LDT pathway
ViraxImmune : Planned U.S. market entry via CLIA LDT pathway Capital-efficient operating pathway Sample collection PAIS is the lead indication, with additional indications advanced selectively as clinical evidence matures. UK clinical and IVD development is expected to PBMC processing provide a
Slide 9: ViraxImmune: U.S. coding and reimbursement pathway
ViraxImmune : U.S. coding and reimbursement pathway Illustrative coding pathway Illustrative reimbursement sensitivity Base-case modelling uses an illustrative $812 allowable; Enable initial billing while clinical, actual net collections will vary by payer, contract, CPT 86849 / appropriate operatio
Slide 10: ViraxImmune: Illustrative U.S. adoption scenarios
ViraxImmune : Illustrative U.S. adoption scenarios Illustrative scenarios show the potential scale of test volumes at different stages of specialist adoption if ViraxImmune is successfully validated and commercialized. Current PAIS burden Annual PAIS cases ~21M ~2.5M estimated U.S. adults estimated
Slide 11: Focused diagnostics development with selective commercial execution
Focused diagnostics development with selective commercial execution ViraxImmune remains the principal value platform, supported by capital-light commercial optionality through ImmuneSelect. ViraxImmune ImmuneSelect Principal value platform Separate RUO commercial channel Separate research-use-only
Slide 12: ViraxImmune: Near-term value inflection pathway
ViraxImmune : Near-term value inflection pathway Completed Near-term catalysts Commercial pathway ✓ FDA feedback received → Clinical-performance → Transfer the test into a analysis / readout CLIA laboratory ✓ ISO-certified quality and → Finalise and lock the test → Demonstrate reproducible developme
Slide 13: Virax Biolabs: Financial position and capital discipline
Virax Biolabs: Financial position and capital discipline Strengthened balance sheet Audited cash on March 31, 2026 $6.4M Focused capital allocation Total assets on March 31, 2026 $8.3M ViraxImmune UK IVD validation pathway Shareholders’ equity on March 31, 2026 $7.3M U.S. CLIA LDT readiness and
Slide 14: From immune signal to clinical decision
ViraxImmune : From immune signal to clinical decision ViraxImmune is being developed to identify a defined T cell dysfunction profile and support better-informed clinical decisions within a large, costly and often prolonged diagnostic pathway. Focused execution toward clinical validation, a capital-
Slide 15: www.viraxbiolabs.com
virax Y biolabs www.viraxbiolabs.com
Slide 16: Appendix 1A: Disease burden and diagnostic gap (slide 4)
Appendix 1A: Disease burden and diagnostic gap (slide 4) PAIS burden and diagnostic gap 1. Bartsch SM, et al. The Current and Future Burden of Long COVID in the United States (U.S.). J Infect Dis. 2025;231(6):1581 –1590. doi:10.1093/infdis/jiaf030. https://academic.oup.com/jid/article/231/6/1581/797
Slide 17: Appendix 1B: Supplemental diagnostic-cost context (slide 6)
Appendix 1B: Supplemental diagnostic-cost context (slide 6) Supplemental diagnostic pathway cost context International Citizens Insurance. “How Much Does Healthcare Cost in the US?“ 2024. https://www.internationalinsurance.com/countries/usa/healthcare-costs/ Ideal Care Insurance. “Medical Consul
Slide 18: Appendix 1C: Coding and reimbursement framework (slide 9)
Appendix 1C: Coding and reimbursement framework (slide 9) Clinical-utility, coding and reimbursement context Eckey M, et al. Patient-reported treatment outcomes in ME/CFS and long COVID. PNAS. 2025;122(28):e2426874122. doi:10.1073/pnas.2426874122. https://www.pnas.org/doi/10.1073/pnas.2426874122
Slide 19: Appendix 1D: PAIS epidemiology and modelling assumptions (slide 10)
Appendix 1D: PAIS epidemiology and modelling assumptions (slide 10) Total PAIS burden and annual cases estimated using data from Centers for Disease Control and Prevention. “Preliminary Estimates of COVID-19 Burden.” February 2026. https://www.cdc.gov/covid/php/surveillance/burden-estimates.html
Slide 20: Appendix 1E: Corporate and clinical programme disclosures (slides 7-13)
Appendix 1E: Corporate and clinical programme disclosures (slides 7-13) Clinical / regulatory programme disclosures Commercial / financial disclosures Strategic priorities and near-term milestones — Apr. 14, 2026: Shareholder update after FY2026 Annual Report and Fosun agreement — Jul. 16, 2026:
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