Bioinvent International Ab · OMXSTO:BINV
Bioinvent International Ab — Investor Presentation (May 2026)
43 slides from Bioinvent International Ab's investor presentation, May 27, 2026
Slide 1: A New Cornerstone in Immunomodulation
A NEW CORNERSTONE IN IMMUNOMODULATION May 2026
Slide 2: Disclaimer
Disclaimer This presentation is not a prospectus or other offer document and has not been approved by any regulatory authority in any jurisdiction. The information contained in this presentation has been prepared solely for information purposes. It is not intended for potential investors and does no
Slide 3: Developing the New Standard of Care for Recurring Ovarian Cancer
BioInvent is Developing the New Standard of Care for Recurring Ovarian Cancer - $1.5 billion in estimated peak sales 3
Slide 4: Next-generation IO Therapies Addressing Remaining Unmet Needs in Cancer Treatment
We are Developing Next-generation IO Therapies Designed to Address One of the Biggest Remaining Unmet Needs in Cancer Treatment What the opportunity is Why BioInvent Why we are well-positioned Checkpoint inhibitors created a major BI-1808 and BI-1206 target immune Proprietary human-first platform wi
Slide 5: The IO Market Continues to Grow as Licensing Activity Accelerates
The Immuno-Oncology (IO) Market Continues to Grow as Licensing Activity Accelerates Key insights The immuno-oncology market is a …but there is a few bottlenecks2 $168bn opportunity… +14% CAGR $168bn CAGR Immunosuppressive tumor $64bn #12 # $14bn Other1 26% microenvironment Checkpoint Modulators mark
Slide 6: The Coming IO Patent Cliff Creates a Strategic Opening
The Coming IO Patent Cliff Creates a Strategic Opening What this Key IO therapies facing loss of exclusivity means Earliest expected LOE / biosimilar entry Drug (brand) Company Target 2025 sales US EU Notes ~$56bn in annual sales PD-1 $31.6bn 2028 ~2031 Numerous exposed to biosimilar (earliest) (ear
Slide 7: BioInvent Could Help Unlock the Full Potential of Immuno-Oncology
BioInvent Could Help Unlock the Full Potential of Immuno-Oncology (IO) Checkpoint inhibitors: transformative, but response rates remain inadequate The Challenge Impact on patients today How BioInvent is different ➔ Too few patients respond ➔ Many patients still do not ➔ Increase response rates No re
Slide 8: First-in-class Clinical Assets Advancing Across Multiple Indications
BioInvent has First-in-class Clinical Assets Advancing Across Multiple Indications Compound/Indication Phase 1 Phase 2a Phase 2b Milestone TNFR2 Ovarian cancer Ongoing ➔ Phase 2a data at ASCO Pembrolizumab1 Phase 2a initiation end Ovarian cancer ➔ Planned 2026 / data expected Pembrolizumab1 + Paclit
Slide 9: Phase 1/2 Responses Demonstrate Strong Anti-tumor Activity
BioInvent Phase 1/2 Responses Demonstrate Strong Anti-tumor Activity 200+ patients have so far been included in BI-1808 and BI-1206 clinical trials • ~ 50 patients with CRs and PRs combined Complete Response Tumor disappears (CR) Partial Response Tumor shrinks (PR) ▪ Strong signal of drug efficacy W
Slide 10: Pembrolizumab Response Rates in Ovarian Cancer vs BI-1808 Combination
Despite Global Dominance in Oncology, Pembrolizumab has Demonstrated Underwhelming Response Rates in Ovarian Cancer BioInvent’s BI-1808 + pembrolizumab are outperforming pembro alone (Phase 2a data) PROC response rates BI-1808 adds 3X ORR BI-1808 + Pembro 24% 56% Pembro 8% monotherapy (KEYNOTE-100)
Slide 11: BI-1808 in Ovarian Cancer – Reactivates Immune System by Targeting Tregs
BI-1808 in Ovarian Cancer – Reactivates Immune System by Targeting Tregs Transitioning the microenvironment from tumor friendly to tumor hostile Targets TNFR2 on Tregs, reducing tumor-driven immune suppression BI-1808 “STOP! Don’t BI-1808 targets attack the BI-1808 TNFR2 on Tregs, CD8+ T-CELLS Tumor
Slide 12: Potential for Significant Revenue Growth Through Label Expansions
BI-1808 and BI-1206 Have the Potential for Significant Revenue Growth Through Label Expansions Estimates Label expansion… sales from 2014-2027E ($bn) Most cancer treatments Demonstrated that label expansion can drive substantial revenue growth over time target tumor-expressed antigens and are restri
Slide 13: A Pragmatic Development Strategy With Billion-Dollar Potential
A Pragmatic Development Strategy With Billion-Dollar Potential BI-1808 market potential in multiple cancer types • Pursue Fast to market indication in CTCL (plan for BTD and accelerated approval) • Develop triplet regimen with BI- 1808+pembrolizumab+paclitaxel in PROC • Future development options in
Slide 14: BI-1808 as the Next Standard of Care in Ovarian Cancer
BioInvent’s BI-1808 as the Next Standard of Care in Ovarian Cancer If BI-1808 Target Product Profile in PROC is met, the peak sales is estimated at ~$1.5 billion (base-case) CURRENT NEXT FORECAST • Standard of care (SoC) • BI-1808 on top of Region Peak Sales Peak Year in ovarian cancer the current S
Slide 15: What Successful Oncology Assets are Worth
What Successful Oncology Assets are Worth and Why it Maps Comparable IO assets command multi billion-dollar deal values Milestones $22.0bn Future payments tied to development, BI-1206 BI-1808 approval and sales (TNFR2) targets (FcyRIIB) $5.5bn Upfront Cash paid at signing of the agreement $6.1bn $5.
Slide 16: Backed by Leading Global Biotech Investors
Backed by Leading Global Biotech Investors for the Next Phase of Growth Why this matters Top investors About the investor Selected successful investments Ownership Deep due diligence Leading US biotech investor Top-class biotech investors with deep domain expertise 15.2% and active ownership COVID-1
Slide 17: Key Expected Milestones 2026-2027
Key Expected Milestones 2026-2027 2026 2027 Ovarian cancer TNFR2 Additional Phase 2a First Phase 2a data triplet + Keytruda data with Keytruda +Paclitaxel CTCL First Phase 2a data with Complete Phase 2a Keytruda + additional data dose optimization, Potential start of pivotal study BI-1808 monotherap
Slide 18: Why invest in BioInvent now?
Why invest in BioInvent now? 1.1 Improving the Effectiveness of the World’s Leading Cancer Therapies 2.2 Two Clinical Assets Developed from Proprietary Human-First Platforms 3. 3 Strong Anti-Tumor Activity Combined with Favorable Safety 4. 4 Multiple Strategic Licensing and Partnering Opportunities
Slide 19: BioInvent Phase 2 programs BI-1808 and BI-1206
BioInvent Phase 2 programs BI-1808 and BI-1206 19
Slide 20: Anti-TNFR2
ANTI-TNFR2 BI-1808 in Ovarian Cancer BI-1808 in T-cell Lymphoma 20
Slide 21: BI-1808 in Ovarian Cancer
BI-1808 in Ovarian Cancer ‘SBiolnvent | 21
Slide 22: Treatment Paradigm Shaped by Platinum Sensitivity and Biomarker Status
The Treatment Paradigm is Shaped by Platinum Sensitivity and Biomarker Status; With Few Recent Approvals in PROC Platinum Sensitive (PSOC) ≥6 months Platinum resistant (PROC) <6 months 1st Relapse 1L 2L 3L 4L+ mPFS ~5.5-8m mPFS ~4.4m Surgery Platinum doublet +/- Beva Paclitaxel, PLD, or topotecan +/
Slide 23: BI-1808: Promising Efficacy in Ovarian Cancer
TNFR2 BI-1808 BI-1808: Promising Efficacy in Ovarian Cancer (OC) Phase 2a Design Phase / Design Population N Dosing Sites Key Endpoints Data Cut-off Ph2a single arm BI-1808 1000 mg Q3W Safety OC (all subtypes) 25 of 40 8 (OC) in EU & UK 2026-04-20 (doublet) Pembro 200 mg Q3W ORR exploratory BI-1808
Slide 24: BI-1808 Phase 2a Combo Data in Ovarian Cancer (cont'd)
TNFR2 BI-1808 Phase 2a Combo Data Shows Promising Efficacy in Ovarian Cancer BI-1808 (cont’d) Data cut-off 2026-02-18 WHAT’S NEXT? Poster at ASCO 2026, May 30 OC: Ovarian Cancer 24
Slide 25: BI-1808 Clinical Trial Design Phase 1/2A (KEYNOTE-D20)
BI-1808 Clinical Trial Design Phase 1/2A (KEYNOTE-D20) Phase 1 Phase 2a All Cancer Types Tissue-specific Cohorts Dose Escalation Signal Seeking Dose Optimization mTPI2 design n=12 subjects per cohort n=10/20 subjects per cohort Randomization between 1000 mg and 250/500 mg BI-1808 1000 mg 6 additiona
Slide 26: Positioning BI-1808 in Recurring Ovarian Cancer
TNFR2 BI-1808 Positioning BI-1808 in Recurring Ovarian Cancer • First-in-class BI-1808 depletes immunosuppressive Tregs and reprograms macrophages to expand and activate CD8+ effector T cells, converting the tumor microenvironment from “cold" to “hot." • Pembrolizumab + paclitaxel achieved 53% ORR,
Slide 27: BI-1808 in CTCL
BI-1808 in CTCL ‘SBiolnvent | 27
Slide 28: Impressive Responses in Heavily Pre-treated PTCL or CTCL Patients
Impressive Responses Were Observed in Heavily Pre-treated Patients with PTCL or CTCL Treated with BI-1808 Monotherapy Case Studies PTCL Patient CTCL Patient (stage IV, 6 prior lines of treatment) (stage IIb MF, 5 prior lines of treatment) Baseline Week 9 Baseline Week 21 28
Slide 29: BI-1808 Shows Promising Efficacy in CTCL and PTCL
TNFR2 BI-1808 BI-1808 Shows Promising Efficacy in CTCL and PTCL EHA 2026 abstract Phase 2a monotherapy and combination data (cut-off Feb 2026) • 40% objective response rate (ORR) as single agent in heavily pre-treated patients with advanced cutaneous T-Cell lymphoma (CTCL), 92% DCR in 15 evaluable C
Slide 30: Anti-FcγRIIB
ANTI-FcγRIIB BI-1206 in Non-Hodgkin’s Lymphoma (NHL) BI-1206 in Solid Tumors 30
Slide 31: BI-1206 in NHL
BI-1206 in NHL ‘YBiolnvent | 31
Slide 32: BI-1206 Paired with Rituximab Can Compete in Follicular Lymphoma Market
FcyRIIB BI-1206 Paired with Entrenched Rituximab, BI-1206 can Compete in a Highly Competitive FL Market Now Follicular Lymphoma (FL) Market Shifts Other MOA • Increasing bispecific options Bispecifics • Expansion of other MOAs (BTKi, CAR-T) Rituximab- based • Switch to rituximab biosimilars regimens
Slide 33: Need for More Convenient, Safer Treatments for R/R Follicular Lymphoma
Need for More Convenient, Safer Treatments for R/R Follicular Lymphoma Similar Treatments Infection Rates Adverse Events Lenalidomide-based regimens • Prolonged management of side effects 63% 50% requiring frequent clinic visits and monitoring Grade 3-4 neutropenia Bispecific T-cell engagers • 45-65
Slide 34: BI-1206 + Rituximab + Acalabrutinib Best Response
FcyRIIB BI-1206 BI-1206 + Rituximab + Acalabrutinib* Best Response (FL, MZL, MCL) Impressive Phase 2a data (20 evaluable patients) • ORR of 80%, CRR of 35% and DCR of 100% • Best clinical response: – 7 CR – 9 PR – 4 SD • In FL subgroup ORR 77% PR • The treatment has been well-tolerated with no safet
Slide 35: BI-1206 in NHL: Combination with Rituximab and Acalabrutinib
FcyRIIB BI-1206 BI-1206 in NHL: Combination with Rituximab and Acalabrutinib Potential Timelines* Type C meeting EOP2/Pre BLA Agreed Pivotal Phase 2 design BLA submission Breakthrough Therapy Designation Approval Phase 2a Signal Seeking Phase 2a follow up Pivotal Study - Phase 2 Confirmatory Study -
Slide 36: BI-1206 in Solid Tumors
BI-1206 in Solid Tumors: Non-Small Cell Lung Cancer Uveal Melanoma 36
Slide 37: BI-1206 with Pembrolizumab - Responses in Uveal Melanoma
FcyRIIB BI-1206 Co-administration of BI-1206 with Pembrolizumab - Promising Responses in Uveal Melanoma Who Previously Failed anti-PD-1 Baseline End of treatment 2 years Case study: PR 69 YO female with uveal melanoma. No response to prior immunotherapy or chemotherapy. Multiples lines of ICIs and C
Slide 38: Competitive Landscape in PD-L1 high NSCLC
Competitive Landscape in PD-L1 high NSCLC BI-1206 + pembro opportunity Grey bubble: Non-approved Colored bubble: Approved Bubble size: No. of pts in reference trial 38
Slide 39: Phase 2a Ongoing: BI-1206 + Keytruda in Treatment-Naïve Patients
FcyRIIB BI-1206 Phase 2a study Ongoing: BI-1206 + KEYTRUDA in Treatment-Naïve Patients • To evaluate safety and efficacy of BI-1206 in combination with pembrolizumab • Advanced or metastatic NSCLC and uveal melanoma • Patients will be enrolled at sites in Georgia, Germany, Poland, Romania, Spain, Sw
Slide 40: Unleashing Immunity To Fight Cancer
Unleashing Immunity To Fight Cancer www.bioinvent.com 40
Slide 41: Anti-PD-1 is Well Entrenched in 1st Line NSCLC
Anti-PD-1 is Well Entrenched in 1st Line NSCLC (TPS > 50) Pembrolizumab monotherapy is the standard of care in 1st line NSCLC (TPS > 50) Anti-PD1 Ab Anti-PD-1 + Anti-CTLA4 Anti PD-L1 Ab Chemoimmunotherapy • Treatment of choice as a • Approved for 1st line • Not the preferred choice • In combination
Slide 42: Lung Cancer Backgrounder
Lung Cancer Backgrounder • American Cancer Society • NSCLC accounts for approximately 85% of all diagnosed lung cancer cases globally. • Lung cancer is the leading cause of cancer-related death worldwide, with over 2.5 million new cases diagnosed in 2022. Metastatic NSCLC has a 5-year survival of 12
Slide 43: Only Two Treatments Approved for Metastatic Uveal Melanoma
Only Two Treatments with Limited Efficacy are Approved for Metastatic Uveal Melanoma • > 50% of patients are not eligible for CD3-gp100 fusion protein Liver directed Anti-PD-1 + Anti-CTLA-4 tebentafusp • Immunotherapies and chemotherapy, while used off label, are not effective • Clinical-stage drugs
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