Slide 1: Generative AI Drug Creation: ABS-201 KOL Seminar
GENERATIVE AI DRUG CREATION ABS-201 KOL SEMINAR ABSCI CORPORATION 2025 ALL RIGHTS RESERVED
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements Certain statements in this presentation that are not historical facts are considered forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including state
Slide 3: Primate model hair regrowth with competitor PRLR antibody
TOP HEAD VIEW OF STUMPTAILED MACAQUE’S TERMINAL HAIR COUNT ”THICK SHOWING PHENOTYPIC CHANGE OVER TIME HAIRS” IN BALD AREAS Treatment Post-treatment Baseline 12 weeks 28 weeks 6 months 2 years 4 years Male Female 40mg/kg s.c. Q2W for 28 weeks Disclosure from competitor Hair density & thickness improv
Slide 4: ABS-201 shows superior efficacy vs 5% topical minoxidil in 21d hair regrowth model
ABS-201 | AGA ABS-201 shows superior efficacy vs 5% topical minoxidil in 21d hair regrowth model Untreated (n=11) *** *** Isotype (n=11) *** Minoxidil 5% (n=11) * ABS-201 30mg/kg (n=11) Error bars= SEM ABS-201 60mg/kg (n=10) Administration: mAbs i.p. biweekly; Minoxidil topical daily ABS-201 vs mino
Slide 5: Human scalp hair follicles are both a target and a source of prolactin
PRLR AND HAIR GROWTH MODULATION Human scalp hair follicles are both a target and a source of prolactin PRL AND PRLR EXPRESSION PROLACTIN-DRIVES MALE HAIR FOLLICLE IN HUMAN SCALP HAIR FOLLICLES REGRESSION IN HUMAN EX VIVO CULTURE Anagen VI Anagen VI Catagen III ORS ORS IRS IRS HS IRS IRS HS Arrows de
Slide 6: PRLR inhibition as an innovative alternative to current treatment options
PRLR inhibition as an innovative alternative to current treatment options PROPOSED DIRECT IMPACT OF ABS-201 ABS-201 HAS THE POTENTIAL TO: ON HAIR CYCLE STAGES Catagen Catagen ↑↑ Apoptosis & Regression Apoptosis & Regression Shift the balance in hair cycle stage 2-4 weeks 2-4 weeks towards anagen pha
Slide 7: Human ex vivo scalp hair follicle organ culture assay
Human ex vivo scalp hair follicle organ culture – an assay to determine hair growth modulation Catagen 100% Anagen VI % of Catagen HFs reduced % of Anagen HFs increased = Hair growth stimulator Increased = Promises to block hair shaft telogen effluvium production 6 days ↑ IGF-1, FGF-7, % of Catagen
Slide 8: Preclinical update on ABS-201 in human ex vivo culture
Preclinical update on ABS-201 in human ex vivo culture Day 1 Day 3 Day 6 IgG Ctrl ABS-201 IgG Ctrl +PRL ABS-201 +PRL Model System Significance: Does ABS-201 in the presence/absence of exogenous PRL: Frontotemporal male scalp skin is the most Prolong anagen/inhibit catagen? androgenetic alopecia affe
Slide 9: ABS-201 inhibits PRL-induced activation of PRLR signaling
ABS-201 significantly prevents the activation of the PRLR signaling pathway T89:;'A<=AN2P20>+?F?S0>@+?F?S0 A;((BACaACb;A:8(: PRL !!!! !!!! S N2P20>+?F?S0> @+?F?S0 c<(dAAbea";A<=ACb;AfA<= R A;((BACaACb;A:8(: g!"#ABC'(AhALi 4 JAK - 2 JAK - 2 - P STAT SRC P L pSTAT5 P13K . P !"#ABC'( FG+I-.L !"#A FG+I-
Slide 10: ABS-201 significantly prolongs anagen stage
ABS-201 significantly prolongs anagen stage Translational readout as in clinical setting – Phototrichogram analyses ABS-201 significantly inhibits the Day 6 - Hair shaft production 789DA:;8<CA=D>?@AC9>B Day 6 - Macroscopic Hair 9124F-2F:.2(H1.4(2526M(-718./8 reduction of hair shaft production & a8HA
Slide 11: ABS-201 prolongs anagen, inhibits catagen and stimulates hair matrix proliferation
ABS-201 significantly prolongs anagen/inhibits catagen and stimulates hair matrix proliferation 9.24F-2F:.2(31.4(2526M(-718./8 &!! %! '(F*(H,-(./(M123 31.4(2526M(-718M $! #! SA78A9'7(:8;'<C:=;A>;((? SATUA9:T:CTC;<A<=EE> :@ACA;AA<:'AB<C':C ;?AC@=A@9;'AA9C';B "! ! CTEaA<@9?"=ATUASAEcdeP0 <=EE> ! a7(EA
Slide 12: ABS-201 may replenish the follicle epithelial stem cell pool
ABS-201 may replenish the HF’s epithelial stem cell pool and prevent their exhaustion BACKGROUND: The capacity of Keratin 15+ hair follicle stem cells to produce CD34+ progenitors is reduced in AGA and may contribute to HF miniaturization SA78A9LR0B:;<:;=A>0A?=((;A@AACB=ACa("= RAS7A8L908:I;<0 =>((?A
Slide 13: ABS-201 inhibits PRL induced CD34 expression
ABS-201 inhibits PRL induced CD34 expression B89RA:;<D:==>?@A>@ACA:A<D?;>BC(AaO+ IgG Ctrl ABS-201 !!! !! L4- E?(cAdAC@":A?eAB89RA!O L4. CD34 CD34 f!"#ABCD(AgALh .47 IgG Ctrl + PRL ABS-201 + PRL .4S .4R .4- .4. !"#ABCD( FG+I-.L !"#A FG+I-.L CD34 CD34 0A1OP 0A1OP ABS-201 significantly inhibits the dec
Slide 14: ABS-201 promotes production of IGF1 and FGF7
ABS-201 promotes the intrafollicular production of key hair growth factors - IGF1 & FGF7 !#7LA89:'8;;<=>A<>AC?8A?@<'AA@C'<9 8#89A:;<':==>?@A>@ACA:ABO+ !#SLA789'7::;<=A;=AC>7A?O+ L4R !! !! !! ! !!!! !!!! S<(@AA>B="7A<CA!#SILA!O L4SR L4- 7=(BAC?@>"8A=aA!#7ILA!2 8?(CAaAE@":A?cA8#89A!O L4R. L4. a!"#ABC'
Slide 15: ABS-201 prevents PRL induced K85 reduction
ABS-201 prevents PRL induced K85 reduction Day 6 – Hair shaft production Day 6 – K85 expression IgG Ctrl ABS-201 a8HARAIA789DA:;8<CA=D>?@AC9>B in Anagen VI HFs S7RA8V:'8;;<=>A<>AF>?"8>A@!AAB; S. !!! ! L4R !!!! !! B=(CAaE?>"8A=cAS7RA!2 <D>CAaLAC>AaRAE9BAcCd 789DA:;8<CA=D>?@AC9>B R. d!"#ABC'(AeALf L4K
Slide 16: Summary of ex-vivo human scalp skin data
Summary of ex-vivo human scalp skin data ABS-201 prolongs anagen phase, thereby inhibiting telogen effluvium ABS-201 promotes hair follicle stem cells and likely their capacity to produce progenitor cells, thereby potentially antagonizing hair follicle miniaturization ABS-201 supports these desired
Slide 17: Prolactin / prolactin receptor signalling
PROLACTIN / PROLACTIN RECEPTOR SIGNALLING Local Prolactin PRL Systemic Prolactin PROLACTIN ABS-201 PROMOTES HAIR GROWTH JAK - 2 JAK - 2 INDUCED CATAGEN P STAT SRC P Stem Cell Protection Premature Catagen & Maintenance Induction (↑K15+ Stem Cells) pSTAT5 P13K P Stem cell Apoptosis ↑ FGF7 and IGF1 Str
Slide 18: ABS-201 mechanism promotes hair growth
ABS-201 mechanism promotes hair growth by: Local Prolactin • Prolongs Anagen: Blocks catagen, increases IGF1 & FGF7, promotes hair matrix Systemic Prolactin keratinocyte proliferation • Protects & Expands Stem Cell PROLACTIN ABS-201 PROMOTES HAIR GROWTH INDUCED CATAGEN Niche: Inhibits K15+ apoptosis
Slide 19: Accelerated Phase 1/2a Trial designed to deliver safety, tolerability, and PoC in AGA
Accelerated Phase 1/2a Trial designed to deliver safety, tolerability, and PoC in AGA Design Elements: Single Ascending Dose • Double-Blind, Placebo-Controlled Ph1/2a First-in- Initiated in Dec 2025 Human Study Cohort 1 Cohort 2 Cohort 3 Cohort 4 • Multi-site study in Australia 150mg IV 450mg IV 900
Slide 20: ~80 million Americans live with AGA
~80 million Americans live with AGA • Poor existing treatment options • No FDA-approved treatments that address underlying disease MALE ANDROGENETIC FEMALE ANDROGENETIC ALOPECIA ALOPECIA • Significant underserved • ~50M men in the U.S. • ~30M women in U.S. population actively searching • Only 2 FDA
Slide 21: Existing treatment categories have limitations and do not address the root cause of AGA
Existing treatment categories have limitations, liabilities, and do not address the root cause of AGA DAILY ORALS OR TOPICALS FOR LIFE SURGERY + ORALS/TOPICALS FOR LIFE Limited Efficacy / High Burden Better Efficacy but Invasive + Highest Burden Topical Minoxidil, Oral Hair Transplant Minoxidil, or
Slide 22: Patients and clinicians are seeking better treatments
Patients + Clinicians are seeking better treatments that can address the root cause of AGA Significant hair re-growth efficacy Durable efficacy Safe with minimal side effects Convenient administration frequency Invasive Surgical + Daily orals and topicals Daily Topical/Oral COPYRIGHT© 2025 ABSCI COR
Slide 23: ABS-201 Target Product Profile
ABS-201 Target Product Profile aims to offer a new category of hair regrowth therapy that directly addresses patient need Significant hair regrowth efficacy: > oral minoxidil Durable hair regrowth: multi-year efficacy Safe with minimal side effects Convenient and minimally invasive: 2-3 subcutaneous
Slide 24: ABS-201 TPP targets pathways implicated in the root cause of AGA
ABS-201 is designed to target pathways implicated in the root cause of AGA and has the potential to deliver a TPP with significant and durable efficacy ABS-201 TPP Prior genetic research, animal studies, and human biopsy experiments support the safety and significant, durable efficacy of ABS-201 Stu
Slide 25: TPP aims to offer durability and convenience
ABS-201 TPP aims to offer potential game changing durability and convenience TOTAL DOSES YEAR 1 YEAR 2 YEAR 3 3 YEARS ABS-201 3* Assuming a durability of 3 years based on preliminary in vivo data Minoxidil, Topical ….. ….. ….. 2,190 Minoxidil, Oral ….. ….. ….. 1,095 Finasteride, Oral ….. ….. ….. 1.0
Slide 26: TPP aims to offer a new treatment category based on efficacy and convenience
ABS-201 TPP aims to offer a new treatment category based on efficacy and convenience 80 70 Transplant + oral/topical Efficacy (terminal hairs/cm2) 60 Potential 50 ABS-201 TPP 40 30 PRP Finasteride Oral Minoxidil 20 10 Topical Minoxidil 0 Worse Convenience and Comfort Better * Based on 2-3 injections
Slide 27: Market Research Study
Market Research Study Participants: MEN WOMEN • N=610 participants • US adults, 25-59 years old • Income ≥$75K and some disposable income N=306 Total N=304 Total • Experiencing and bothered by hair loss or thinning hair N=149 aged 25-39 N=136 aged 25-39 N=157 aged 40-59 N=168 aged 40-59 Objectives:
Slide 28: Hair loss has significant psychological impacts
MARKET RESEARCH STUDY Hair loss has significant psychological impacts HOW HAIR LOSS MAKES YOU FEEL: MEN 80% of men WOMEN 81% of women report negative psychological impacts report negative psychological impacts Less confident 38% Less confident 44% Look less attractive 33% Look less attractive 34% Lo
Slide 29: Significant interest in ABS-201 TPP
MARKET RESEARCH STUDY Significant interest in ABS-201 TPP LIKELIHOOD TO ASK A HEALTHCARE PROFESSIONAL ABOUT ABS-201: MEN WOMEN 87% 90% 92% 97% 69% 76% 89% 88% 28% 22% 12% 10% 7% 3% 11% 13% 2% 1% 1% 0% 3% 2% 0% 0% Total Men OTC Rx Oral In-Office Total Women OTC Rx Oral In-Office (n=306) Minoxidil (n=
Slide 30: Use of standard of care treatments associated with stronger interest in ABS-201
MARKET RESEARCH STUDY Use of standard of care treatments associated with even stronger interest in ABS-201 LIKELIHOOD TO ASK A HEALTHCARE PROFESSIONAL ABOUT ABS-201: MEN WOMEN 87% 90% 92% 97% 69% 76% 89% 88% 28% 22% 12% 10% 7% 3% 11% 13% 2% 1% 1% 0% 3% 2% 0% 0% Total Men OTC Rx Oral In-Office Total
Slide 31: ABS-201 has potential to become first line therapy
MARKET RESEARCH STUDY ABS-201 has potential to become first line therapy for a significant percentage of AGA consumers % OF THOSE USING ANOTHER PRODUCT WHO SAY THEY WOULD HAVE TRIED ABS-201 FIRST IF AVAILABLE: MEN 37% would try ABS-201 first WOMEN 36% would try ABS-201 first 38% 29% 36% 35% of OTC (
Slide 32: Takeaways
MARKET RESEARCH STUDY Takeaways Significant unmet need driven by psycho-social impacts from AGA Overall high interest in ABS-201 TPP, potential to become first line therapy for a significant share of male and female AGA consumers Significant share of men and women respondents willing to pay a premiu
Slide 33: > $25B estimated U.S. TAM
Patient Funnel > $25 B Total AGA pts in the US 50M male, 30M female 80M estimated U.S. TAM Income ≥$75K (US Census) Pts 17-69 yo ~39M Concerned / motivated about hair loss > $40 B ~26M potential global TAM Strong interest in TPP ~22 – 24M Strongest interest in TPP 5-9 M pts treated/year with premium
Slide 34: Go-to-market channels in place
Go-to-market channels in place: 80% of consumers already seek hair treatments from our target market channels 80% of consumers seek hair treatments from: Potential FDA Approval in Dermatologists, Med Spas, and Plastic Surgeons 2029 - 2030 59% Dermatologist 33% Hormone Specialist Market ~30K Location
Slide 35: Strategy to capture and expand ABS-201 TAM
Strategy to capture and expand ABS-201 TAM Create viral awareness Massive motivated patient population with high interest in the ABS-201 TPP Leverage GLP-1 Practitioner market channels in place strategy + market Create viral awareness and direct infrastructure patient engagement Direct Patient Drive