Standard Biotools Inc. · NASDAQ:LAB
Standard Biotools — Merger or Acquisition (June 2026)
32 slides from Standard Biotools's merger presentation, June 2026
Slide 1: Transaction and Company Overview
Transaction and Company Overview June 2026
Slide 2: Disclaimer
Disclaimer This presentation, which has been prepared by Treeline Biosciences, Inc. (“Treeline”), is for informational purposes only, and shall not form the basis for or be relied on in connection with any investment decision with respect to Treeline, Standard BioTools Inc. (“Standard BioTools”), or
Slide 3: Disclaimer (cont.)
Disclaimer (cont.) Additional Information and Where to Find It This communication may be deemed to be solicitation material in respect of the proposed transaction involving Standard BioTools and Treeline. In connection with the proposed transaction and required stockholder approval, Standard BioTool
Slide 4: Transaction Summary/Highlights
Transaction Summary/Highlights The acquisition of Treeline was structured as a stock-for-stock reverse merger transaction whereby all of Structure Treeline’s outstanding equity interests will be exchanged for shares of Standard BioTools common stock. Following the consummation of the transaction, th
Slide 5: Estimated Capitalization Following Close of Transaction
Estimated Capitalization Following Close of Transaction Shares on an as-converted / Expected ownership of the as-exercised basis (in millions) combined company Standard Fully diluted shares outstanding 415.9 BioTools 15.5% Shares of common stock 513.2 (including shares underlying equity grants) Tree
Slide 6: Treeline Biosciences
Treeline Biosciences Founders Overview • Labs in Watertown, MA, San Diego, CA, and Basel, Switzerland Josh Bilenker , MD CEO and Co -Founder • $1.2B raised from syndicate of leading life science investors Loxo Oncology @ Lilly • Target-centric pipeline – working in oncology, neurology, and Loxo CEO
Slide 7: Target Selection: Our Four Criteria
Target Selection: Our Four Criteria Disease dependency Therapeutic index Path to druggability Patient need & commercial potential Are we sure the target drives Can we expect a wide gap Can we make a medicine that If successful, will the medicine the disease? between the beneficial dose profoundly al
Slide 8: Diverse Modalities Expand Addressable Target Universe
Diverse Modalities Expand Addressable Target Universe Protein Degraders San Diego Small Molecule Targeted Inhibitors Therapy ADCs Watertown Watertown San Diego Basel 8
Slide 9: Treeline's Programs
Treeline’s Programs Program (target) Modality Associated Diseases Program Stage Upcoming Anticipated Milestones Initiate combination expansions in 2026 TLN-121 (BCL6) Oral degrader B-cell lymphomas, T-cell lymphomas Phase 1 Interim data in 2027 TLN-372 (Pan-KRAS) Inhibitor Lung, pancreas, colon, oth
Slide 10: TLN-121 BCL6 Degrader
TLN-121 BCL6 Degrader ® Treeline
Slide 11: Lymphoma Landscape and Unmet Need
Lymphoma Landscape and Unmet Need Diffuse large B -cell lymphoma Follicular lymphoma Peripheral T -cell lymphoma (DLBCL) (FL) (PTCL) • Most common aggressive lymphoma; • Most common Indolent lymphoma; ~15,000 • Rare, aggressive non-Hodgkin lymphoma (NHL) >25,000 annual US diagnoses annual US diagnos
Slide 12: BCL6 is a Critical Driver of Lymphoma Biology
BCL6 is a Critical Driver of Lymphoma Biology • BCL6 enables B-cells to: • Rapidly proliferate, • Hypermutate, and • Avoid T-cell interactions • Many lymphomas, particularly DLBCL, FL and PTCL, maintain high BCL6 expression • Loss of BCL6 drives B-cell differentiation or apoptosis • First lineage tr
Slide 13: TLN-121 Program Overview
TLN -121 Program Overview TLN-121 is an oral, selective and potent BCL6 degrader >20x therapeutic margins observed in GLP toxicology First patients dosed in Q3’25 Extensive Treeline translational data suggest BCL6 degrader is synergistic in combination with lymphoma SoC therapies 13
Slide 14: TLN-121 Was Designed for Selectivity
TLN -121 Was Designed for Selectivity OCI-LY1 OCI-Ly1 6hTLN-121 + 100 nM 99643 (6h) • Treeline pursued a selective BCL6 degradation BCL6 profile for TLN-121 10 -log(P-value) • Unbiased proteomics analysis of ~7,000 proteins indicates selective degradation of BCL6 5 • Selectivity should enhance combi
Slide 15: TLN-121 Demonstrated Single Agent Activity in Preclinical DLBCL Models
TLN -121 Demonstrated Single Agent Activity in Preclinical DLBCL Models WSU-DLCL2 (DLBCL CDX) 3000 • Extensive preclinical evaluation in 50+ Observation Tumor Volume (mm3) CDX/PDX models of lymphoma, including 2500 single-agent and 10+ combination regimens 2000 • Single agent TLN-121 regressed many
Slide 16: TLN-121 Phase 1 Study in R/R Lymphomas
TLN -121 Phase 1 Study in R/R Lymphomas Dose Escalation: Monotherapy and Dose Expansion: Monotherapy and Combination with TLN-254 in Relapsed or Combinations in R/R Lymphomas Refractory (R/R) DLBCL, FL and PTCL Subject to change based on emerging data Monotherapy: TLN-121 TLN-121 disease-specific co
Slide 17: Single-Agent Responses Observed Across DLBCL, FL and PTCL
Single -Agent Responses Observed Across DLBCL, FL and PTCL By Lugano criteria • Patients were heavily pre-treated, with prior lines of therapy ranging from 2 to 8 • Of the patients with DLBCL and FL, 50% of patients had received a prior T-cell/immune-cell engager and 33% of patients had received pri
Slide 18: Preliminary Safety Profile
Preliminary Safety Profile • N=34 patients in safety data set • No DLTs • Majority of TEAEs and TRAEs were Grade 1 • TRAEs occurring in ≥20% or greater of participants were arthralgia and nausea • Asymptomatic Grade 3 QTc prolongation (heart rhythm abnormality) reported in three patients with impair
Slide 19: TLN-372 Pan-KRAS Inhibitor
TLN-372 Pan-KRAS Inhibitor ® Treeline
Slide 20: KRAS is One of the Most Commonly Mutated Oncogenes
KRAS is One of the Most Commonly Mutated Oncogenes Estimated newly diagnosed patients per year in the US Other Solid Colorectal Pancreatic Lung Endometrial Tumors* Total G12D 18,500 21,300 4,500 5,300 1,700 51,300 G12V 12,500 16,300 5,400 4,100 1,000 39,300 G12C 4,100 700 12,500 1,100 300 18,700 G12
Slide 21: TLN-372 Program Overview
TLN -372 Program Overview TLN-372 is a potent and orally bioavailable pan-KRAS inhibitor KRAS is an unforgiving target that requires deep inhibition Novel scaffold was required for improved ADME/PK and target coverage Pan-RAS inhibitors, while active, have dose-limiting skin and other toxicities, du
Slide 22: Treeline In-House Chemistry & Computational Team Discovered Novel Chemical Scaffold
Treeline In -House Chemistry & Computational Team Discovered Novel Chemical Scaffold ~30 new chemical cores Solving for potency, solubility, permeability, clearance Enabled by substantial expertise in computer modelling Extensive parallel medicinal chemistry effort ~1,500 compounds synthesized Lead
Slide 23: TLN-372 Demonstrates Single Agent Activity in Preclinical Models
TLN -372 Demonstrates Single Agent Activity in Preclinical Models Anti-Tumor Activity in NCI-H727 CDX • Extensive preclinical evaluation in 40+ 2000 Vehicle (BIDx21 PO) CDX/PDX models across PDAC, TLN-372 (10mg/kg, BIDx21, PO) TLN-372 (30 mg/kg, BIDx21, PO) Tumor Volume (mm3) NSCLC, CRC and other so
Slide 24: TLN-372 Phase 1 Study
TLN -372 Phase 1 Study Dose Escalation: Monotherapy Dose Expansion: Monotherapy and Combinations in KRAS G12X (excluding G12R), G13X, Subject to prioritization based on emerging data from escalation and WT-amp Solid Tumors TLN-372 monotherapy DL5+ NSCLC, pancreatic, and other solid tumors DL4 TLN-37
Slide 25: Preliminary PK and Safety Summary
Preliminary PK and Safety Summary • As of May 2026, TLN-372 has been dosed at four dose levels • No DLTs observed • Free-drug exposures are consistent with exposures predicted by preclinical modeling DLT = dose limiting toxicities 25
Slide 26: TLN-254 EZH2 Inhibitor
TLN-254 EZH2 Inhibitor ® Treeline
Slide 27: TLN-254 Program Overview
TLN -254 Program Overview TLN-254 is a selective and orally bioavailable EZH2 inhibitor Treeline acquired ex-China rights from Jiangsu Hengrui Pharmaceuticals in 2023 Studied in over 400 clinical trial patients and conditionally approved in R/R PTCL in China Preliminary safety and efficacy from Tree
Slide 28: TLN-254 Monotherapy Phase 2
TLN -254 Monotherapy Phase 1 Sites in US and Canada TLN-254 Dose level 1 Cohort 1 (N=40) Randomization 1:1 PTCL (after ≥1 systemic treatment) TLN-254 Dose level 2 Cohort 2 (N=10) TLN-254 Dose level 2 CTCL (after ≥2 prior systemic treatments) Primary endpoint: Investigator ORR (Lugano Criteria for PT
Slide 29: Interim Efficacy From Treeline Phase 1 in R/R PTCL Patients
Interim Efficacy From Treeline Phase 1 in R/R PTCL Patients By Lugano criteria • Patients were heavily pre-treated, with prior lines of therapy ranging from 1 to 6 • N=21 response-evaluable PTCL patients received TLN-254 monotherapy TLN-254 Monotherapy in PTCL N=21 ORR 13 (62%) CMR 7 (33%) PMR 6 (29
Slide 30: Preliminary Safety From Treeline Phase 1 Trial of TLN-254
Preliminary Safety From Treeline Phase 1 Trial of TLN -254 • N=37 patients in safety data set • Majority of TEAEs and TRAEs were Grade 1 or 2 • TRAEs occurring in ≥20% or greater of participants were hematologic toxicity and dysgeusia • Grade ≥3 TRAEs were reported in 16% of patients • One secondary
Slide 31: Looking Forward
Looking Forward Clinical Programs Additional Preclinical Programs TLN -121 (BCL6 degrader) TLN -499 (BCL -XL degrader) Initiate combination expansion cohorts in 2026 Trial initiation expected in 2026 Interim data expected in 2027 TLN -372 (Pan -KRAS inhibitor) Lead optimization Interim data expected
Slide 32: Treeline
®) Treeline
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