Bioinvent International Ab · OMXSTO:BINV
Bioinvent International Ab — Investor Presentation (March 2026)
56 slides from Bioinvent International Ab's investor presentation, March 2026
Slide 1: Unleashing Immunity To Fight Cancer
Unleashing Immunity To Fight Cancer March 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: Key Highlights
Key Highlights Two promising antibodies with clinical proof of concept, targeting significant high-value markets in 1 Ovarian cancer, NSCLC, CTCL, Uveal Melanoma BI-1808 a novel, first in class anti-TNFR2 mAb with demonstrated single agent activity and 2 durable responses in Ovarian cancer. A new po
Slide 4: Strong Proprietary Clinical Pipeline with Multiple Value Drivers in 2026
BioInvent has a Strong Proprietary Clinical Pipeline with Multiple Value Drivers in 2026 BI-1808 (TNFR2) Study Arm Phase 1 Phase 2a Phase 2b Next data 2L Ovarian cancer + pembrolizumab1 H2 2026 2L Ovarian cancer + pembrolizumab1 + paclitaxel CTCL single agent Mid-2026 CTCL + pembrolizumab1 Mid-2026
Slide 5: ANTI-TNFR2
ANTI-TNFR2 BI-1808 in Ovarian Cancer BI-1808 in T-cell Lymphoma 5
Slide 6: BI-1808's Differentiated Mechanism of Action
TNFR2 BI-1808 BI-1808’s Differentiated Mechanism of Action Mechanism of Action • Binds to TNFR2 • Depletes immunosuppression • Activates myeloid cells • Expand antitumor CD8+ T cells • Reprogrammes macrophages positive mAb Characteristics • Human recombinant IgG1 antibody • Blocks TNF-a binding to T
Slide 7: BI-1808 a Potential Blockbuster in Ovarian Cancer and CTCL
TNFR2 BI-1808 BI-1808 a Potential Blockbuster in Ovarian Cancer and CTCL • Targets resistant, non-responding, poorly T cell-infiltrated “cold” tumors • Single agent activity observed in several tumor types • Compelling early efficacy in historically IO-resistant cancer $ multi billion • A potential
Slide 8: BI-1808 in Ovarian Cancer
BI-1808 in Ovarian Cancer ‘SBiolnvent | 8
Slide 9: BI-1808: Promising Efficacy in Ovarian Cancer (OC)
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) 21 of 40 8 (OC) in EU & UK 2026-02-18 (doublet) Pembro 200 mg Q3W ORR exploratory BI-1808
Slide 10: BI-1808 Phase 2a Combo Data Shows Promising Efficacy 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? Additional Phase 2a data in ovarian cancer H2 2026E OC: Ovarian Cancer 10
Slide 11: Compelling Rationale for BI-1808 Triplet in Ovarian Cancer
TNFR2 BI-1808 Compelling Rationale for BI-1808 Triplet in Ovarian Cancer I. anti-PD-1 (pembrolizumab) + paclitaxel has curative potential in Ovarian Cancer • BI-1808 + pembro have synergistic activity (II) Flattened curve (curative potential) • BI-1808 + paclitaxel have additive activity (III, IV) T
Slide 12: BI-1808 Will Likely Improve the Newly Approved SoC Pembro + Paclitaxel
BI-1808 Will Likely Improve the Newly Approved SoC Pembro + Paclitaxel BI-1808 + Pembro + Paclitaxel • BI-1808 + pembro has 3X the ORR as compared to Pembro (PD-1)+Paclitaxel pembro alone ADCs in Phase 2/3 • BI-1808 synergizes with paclitaxel Elahere (FRa ADC) • Pembro + paclitaxel Relacorilant (GC)
Slide 13: BI-1808: A New Immunologic Foothold in Ovarian Cancer
TNFR2 BI-1808 BI-1808: A New Immunologic Foothold in Ovarian Cancer The Solid Tumor Opportunity Why BI-1808 Matters • Recurrent ovarian cancer remains highly resistant • A Different mechanism that addresses poorly all treatments T cell-infiltrated “cold” tumors • Anti-PD-1 show limited activity (low
Slide 14: 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 15: BI-1808 in CTCL
BI-1808 in CTCL ‘SBiolnvent | 15
Slide 16: BI-1808 Phase 2a Monotherapy Shows Promising Efficacy in CTCL and PTCL
TNFR2 BI-1808 BI-1808 Phase 2a Monotherapy Shows Promising Efficacy in CTCL and PTCL Phase 2a Design Phase / Design Population N Dosing Sites Key Endpoints Data Cut-off Ph 2a single arm Safety Advanced CTCL/PTCL 15 of 40 1000 mg Q3W 10 2025-10-06 (monotherapy) ORR exploratory ASH 2025 poster 46% ORR
Slide 17: BI-1808 Phase 2a Monotherapy in CTCL and PTCL (cont'd)
TNFR2 BI-1808 Phase 2a Monotherapy Shows Promising Efficacy in CTCL and PTCL BI-1808 (cont’d) PR PR WHAT’S NEXT? Phase 2a data in CTCL (additional mono and first combo) mid-2026E 17
Slide 18: BI-1808 Efficacy and Safety Best-in-Class Compared to Other CTCL Therapies
TNFR2 BI-1808 Efficacy and Safety is Best-in-Class Compared to Other Systemic BI-1808 Therapies for CTCL Black-Box warning Patients Size of bubble No. of pts 9 Investigational drugs Grey bubble Approved treatments Colored bubble 186 Approved for a sub-population ^ Public sources 18
Slide 19: BI-1808 Potential Path to Approval – US
TNFR2 BI-1808 Potential Path to Approval – US BI-1808 Breakthrough Designation Potential Timelines for OC* Agreed Pivotal Design EOP Meeting Fast Track Designation Dose Optimization in combo with ✓ Phase 2, Part A monotherapy (n=20) Phase 2, Part B pembro and paclitaxel Combo with Pembro (n= 40) (n
Slide 20: ANTI-FcγRIIB
ANTI-FcγRIIB BI-1206 in Non-Hodgkin’s Lymphoma (NHL) BI-1206 in Solid Tumors 20
Slide 21: BI-1206 in NHL
BI-1206 in NHL ‘YBiolnvent | 2
Slide 22: Paired with Rituximab, BI-1206 can Compete in a Highly Competitive FL Market
FcyRIIB Paired with Entrenched Rituximab, BI-1206 can Compete in a Highly BI-1206 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 23: BI-1206 SC + Rituximab Doublet in Follicular Lymphoma
FcyRIIB BI-1206 BI-1206 SC + Rituximab (Doublet) is Well Tolerated with Promising Efficacy in Follicular Lymphoma Phase 1 Design Phase / Design Population N Dosing Sites Key Endpoints Data Cut-off Ph 1 R/R FL 22 FL (out 30 NHL) Escalating doses IV 12 EU. 3 BR, 2 US Safety 2025-10-28 Dose escalation
Slide 24: BI-1206 SC + Rituximab Doublet in Follicular Lymphoma (cont'd)
FcyRIIB BI-1206 BI-1206 SC + Rituximab (Doublet) is Well Tolerated with Promising Efficacy in Follicular Lymphoma (cont’d) PR 24
Slide 25: BI-1206 + Rituximab + Acalabrutinib Triplet: Best Response
FcyRIIB BI-1206 BI-1206 + Rituximab + Acalabrutinib* (Triplet): Best Response (FL, MZL, MCL) Phase 2a Design Phase / Design Population N Dosing Sites Key Endpoints Data Cut-off Phase 2a BI-1206 150 mg or 225 Safety R/R NHL 20 of 30 8 BR, 9 EU, 1 US 2026-02-12 single arm (triplet) mg SC ORR explorato
Slide 26: BI-1206 Triplet: Best Response (cont'd)
FcyRIIB BI-1206 BI-1206 + Rituximab + Acalabrutinib* (Triplet): Best Response (FL, MZL, MCL) (cont’d) PR * Supplied by AstraZeneca 26
Slide 27: 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 28: BI-1206 Positioning in Follicular Lymphoma
FcyRIIB BI-1206 BI-1206 Positioning in Follicular Lymphoma • In FL, repeated exposure to Rituximab leads to resistance via FcγRIIB-mediated internalization; BI-1206 blocks this escape route, potentially "resensitizing" the tumor to CD20 therapy even in heavily pre-treated patients. • While BTK inhib
Slide 29: BI-1206 in Solid Tumors
BI-1206 in Solid Tumors: Non-Small Cell Lung Cancer Uveal Melanoma 29
Slide 30: Promising Efficacy Signals in Phase 1b BI-1206 + Pembrolizumab
FcyRIIB Promising Efficacy Signals in Phase 1b BI-1206 + Pembrolizumab* BI-1206 Combination Phase 1b and 2a Design Phase / Design Population N Dosing Sites Key Endpoints Data Cut-off Melanoma Escalating doses 3 EU Safety, Ph 1b 13 (40) 2025-06-10 (as part of solid tumors) BI-1206 150-300 mg 4 US ORR
Slide 31: 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, Rumania, Spain, Sw
Slide 32: 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 33: 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 33
Slide 34: Positioning of BI-1206 in Non-Small Cell Lung Cancer
FcyRIIB BI-1206 Positioning of BI-1206 in Non-Small Cell Lung Cancer • BI-1206 blocks FcγRIIB (CD32b), a receptor on myeloid cells that actively removes anti-PD-1 antibodies off T-cells, internalizing and degrading them. By blocking FcγRIIB, BI-1206 prevents the removal of pembrolizumab from the T-c
Slide 35: Only Two Treatments Approved for Metastatic Uveal Melanoma
Only Two Treatments with Limited Efficacy are Approved for Metastatic Uveal Melanoma CD3-gp100 fusion protein Liver directed Anti-PD-1 + Anti-CTLA-4 • > 50% of patients are not eligible for tebentafusp • Immunotherapies and chemotherapy, while used off label, are not effective • Clinical-stage drugs
Slide 36: Competitive Landscape for Metastatic Uveal Melanoma
Competitive Landscape for Metastatic Uveal Melanoma BI-1206 + pembro opportunity Grey bubble: Non-approved Colored bubble: Approved Bubble size: No. of pts in reference trial 36
Slide 37: Positioning of BI-1206 in Uveal Melanoma
FcyRIIB BI-1206 Positioning of BI-1206 in Uveal Melanoma • Metastatic uveal melanoma is historically resistant to single agent anti-PD-1 therapy (ORR <5%). BI-1206 blocks FcγRIIB, a receptor that pulls pembrolizumab away from T-cells and internalizes it for degradation, theoretically restoring PD-1
Slide 38: Key Catalysts
Key Catalysts 2026-2027 38
Slide 39: Expected Key Clinical Milestones 2026-2027
Expected Key Clinical Milestones 2026-2027 TNFR2 platform 2026 2027 First Ph 2a data with Complete Ph 2a data BI-1808 pembro + additional dose optimization, Potential start of in TCL pivotal study mono mono BI-1808 Ph 2a data with First Ph 2a data triplet in solid tumors pembro +pembro+paclitaxel Fc
Slide 40: www.bioinvent.com
* Biolnvent bringing antibodies to life
Slide 41: Appendix
Appendix 41
Slide 42: BioInvent Management Team
42 │ BioInvent Management Team Martin Welschof, Ph.D. Stefan Ericsson Andres McAllister, M.D., Ph.D. Björn Frendéus, Ph.D. Chief Executive Officer Chief Financial Officer Chief Medical Officer Chief Scientific Officer 8 28 9 25 Ashley Robinson Ingunn Munch Lindvig, Ph.D. Kristoffer Rudenholm Hansson
Slide 43: BI-1808 Single Agent Case Study: Complete Response in Ovarian Cancer
TNFR2 BI-1808 BI-1808 Single Agent Case Study: Complete Response in Ovarian Cancer Baseline 2 months 63-year-old patient with ovarian cancer, Stage IIIA at diagnosis, entered the study with PD. Four previous lines of treatment: • Paclitaxel/carboplatin • Carboplatin/doxorubicin • Olaparib • Bevacizu
Slide 44: BI-1808 Single Agent Case Study: Robust PR in a Patient with GIST
TNFR2 BI-1808 BI-1808 Single Agent Case Study: Robust PR in a Patient with GIST* Baseline Follow-up 13 months 55-year-old male patient with GIST, who presented with clinical PD for more than 6 months with multiple metastatic lesions. 12 previous lines of therapy. The partial response continues to im
Slide 45: BI-1808 Has Shown Single Agent Activity in a Patient with NSCLC
TNFR2 BI-1808 BI-1808 has Shown Single Agent Activity in a Patient with NSCLC Antitumor activity correlates with CD8+ T-cell activation • f g h Sum lesion 1-3 Pre-dose Week 5 lesion 1 Pre-dose lesion 2 Week 5 120 lesion 3 60 CD8+ T cells / T reg ratio 100 pre-dose cell density (cells/mm2) 50 6 tumor
Slide 46: Responses in Heavily Pre-treated PTCL or CTCL Patients on BI-1808
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 46
Slide 47: BI-1206 with Pembrolizumab: Responses in Uveal Melanoma
FcyRIIB Co-administration of BI-1206 with Pembrolizumab Promising Responses BI-1206 Observed in Uveal Melanoma, who Previously Failed Anti-PD-1 Therapy Baseline End of treatment 2 years Case study: PR 69 YO female with uveal melanoma. No response to prior immunotherapy or chemotherapy. Multiples lin
Slide 48: BI-1206 with Pembrolizumab: Responses in Melanoma
FcyRIIB Co-administration of BI-1206 with Pembrolizumab Promising Responses BI-1206 Observed in Melanoma, who Previously Failed Anti-PD-1 Therapy Baseline Scan at 16 months Case study: CR 77 YO male melanoma patient, stage IV. Deep Partial Response at first scan at 2 months, evolving to CR at 10 mon
Slide 49: BI-1206 Vision From First Approval to Expansion
FcyRIIB BI-1206 BI-1206 Vision From First Approval to Expansion • First-in-class anti-FcγRIIB antibody reversing a key $ multi billion mechanism of resistance • Meaningful and durable responses in heavily pre-treated NHL • Transformational enhancer of antibody-based immunotherapy Other solid tumors
Slide 50: 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 51: What Do We Need to Achieve in PD-L1 high 1st Line NSCLC?
What Do We Need to Achieve in PD-L1 high 1st Line NSCLC ? Therapy Regimen Stage ORR Median Median OS Status/Notes Class PFS PD-1 MAb Pembrolizumab Approved 45% 10.3 mo 30.0 mo Gold Standard. The benchmark to beat. SOC PD-1 MAb Cemiplimab Approved 46% 8.2 mo 26.1 mo Validated alternative PD-1 monothe
Slide 52: Uveal Melanoma is a Rare Cancer with Particularly Poor Prognosis
Uveal Melanoma is a Rare Cancer with Particularly Poor Prognosis • A rare and aggressive cancer that develops from melanocytes in the uvea of the eye. It's the most common primary eye cancer in adults. • High risk of metastasis to other parts of the body, particularly the liver, which occurs in abou
Slide 53: Approved and Investigational Therapies for Metastatic Uveal Melanoma
Approved and Investigational Therapies for Metastatic Uveal Melanoma Therapy Target Status Patients ORR CR PFS OS Toxicities & Notes HLA-A*02:01+ Tebentafusp (Kimmtrak) CD3 –gp100 Approved 9% <1% 3.3 mo 21.7 mo CRS, Rash (83%), Pyrexia (~50% of pts) Safe but ineffective as Pembrolizumab (Keytruda) P
Slide 54: 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 55: Proprietary F.I.R.S.T platform is the engine discovering novel cancer treatments
In brief Building a Pipeline: Our State-of-the-Art Antibody Technology Proprietary F.I.R.S.T Tumor platform is the engine BioInvent’s discovering novel Function FUNCTION FIRST DRUG cancer treatments Target DISCOVERY We discover the function - and the efficacy– first • Novel IO targets (e.g. , TNFR2
Slide 56: BI-1808 in CTCL Benchmark References
BI-1808 in CTCL Benchmark References • Stadler R, et al. Phase II trial of atezolizumab (Anti-PD-L1) in the treatment of relapsed/refractory IIB/IVB mycosis fungoides/Sézary syndrome patients after previous systemic treatment. Eur J Cancer. 2025; 205: 1-9. • Olsen EA, Kim YH, Kuzel TM, et al. Phase
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