Enlivex Ltd. · NASDAQ:ENLV
Enlivex — Investor Presentation (June 2026)
35 slides from Enlivex's investor presentation, June 2026
Slide 1: The Quality Longevity Company Powered by a Prediction Markets Treasury
The Quality Longevity Company Powered by a Prediction Markets Treasury
Slide 2: Forward-looking statements
Forward-looking statements These slides and the accompanying oral presentation contain forward- looking statements and information. Forward-looking statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels or activ
Slide 3: Enlivex: The World's First Healthspan-Wealthspan Company
Enlivex: The World's First Healthspan-Wealthspan Company Clinical Program Treasury Strategy Quality Longevity Through Potential Medical Prediction Markets Treasury Breakthroughs ● Advanced Clinical-stage Allocetra ● Largest institutional holder of RAIN, the governance immunotherapy currently targeti
Slide 4: Treasury Portfolio Update
Treasury Portfolio Update As of June 14, 2026 • The market value of the Company's digital asset treasury was approximately $1 billion • Treasury-related derivative instrument (option to acquire RAIN) In-the-money value: $2.6 Billion** The updated unaudited mark-to-market treasury metrics are publicl
Slide 5: Enlivex Clinical Development
ENLIVEX CLINICAL DEVELOPMENT June 2026 Nasdaq: ENLV | 05
Slide 6: Macrophage Modulation for the Treatment of Inflammatory Diseases
MACROPHAGE MODULATION FOR THE TREATMENT OF INFLAMMATORY DISEASES Enlivex is a clinical stage pharmaceutical company developing Allocetra , a universal, off-the-shelf cell therapy designed to reprogram macrophages into their homeostatic state, for treatment of inflammatory diseases About ON Allocetra
Slide 7: Cellular First Responders: Macrophages and Their Critical Role in Inflammation
CELLULAR FIRST RESPONDERS: MACROPHAGES AND THEIR CRITICAL ROLE IN INFLAMMATION Macrophages orchestrate Macrophages, which are found in abundance throughout the body, are inflammation and its resolution. immune cells that reside in or infiltrate human tissue. Main functions: Role in inflammation: Ini
Slide 8: Promoting Balance: Apoptotic Cells Facilitate Macrophage Homeostasis
PROMOTING BALANCE: APOPTOTIC CELLS FACILITATE MACROPHAGE HOMEOSTASIS How apoptotic cells Prof. Dror Mevorach Influence macrophages Scientific Founder TA PtdSer Apoptotic Cells Induce NF-kB and M Inflammasome Negative Signaling Enlivex's Allocetra mechanism Amir Grau, Adi Tabib, Inna Grau, Inna Reine
Slide 9: Allocetra: An off-the-shelf cell therapy designed to restore macrophage homeostasis
AllocetraTM: An off-the-shelf cell therapy designed to restore macrophage homeostasis Process: PtdSer Eat Me Apoptotic Cell Allogeneic TM Collec t cells from healthy donors Proprietary apoptotic c ell modification process Cells express 'eat m e' signal Cells are froz en Off the shelf, cost effective
Slide 10: Allocetra: Current Pipeline: Building Momentum
ALLOCETRATM: CURRENT PIPELINE: BUILDING MOMENTUM Indication Study # Administration Pre-clinical Phase I/II Phase II Phase III Moderate to severe ENX-CL-05-001 Local knee Randomized/controlle d, Enrolling Patients knee osteoarthritis injection 149 patients, enrollment completed NCT06233474 Temporoman
Slide 11: Allocetra for the Treatment of Osteoarthritis
TM ALLOCETRA FOR THE TREATMENT OF OSTEOARTHRITIS Nasdaq: ENLV | 11
Slide 12: Osteoarthritis: A Growing Market with Significant Potential
OSTEOARTHRITIS: A GROWING MARKET WITH SIGNIFICANT POTENTIAL Disease Overview Market Standard of Care Lifestyle Changes Physiotherapy Pain Medication Disease Manifestation: Cartilage Surgery damage, abnormal bone remodeling and inflammation of the synovium. Nasdaq: ENLV | 12
Slide 13: Knee Osteoarthritis: Increased risk of mortality and reduced quality of longevity
KNEE OSTEOARTHRITIS: Increased risk of mortality and reduced quality of longevity The most comprehensive and recent meta-analysis (2024), covering over one million participants, found that knee OA patients had a 21% higher risk of all-cause mortality compared to those without knee OA 1. Knee OA incr
Slide 14: Knee Osteoarthritis (KOA) Market
KNEE OSTEOARTHRITIS (KOA) MARKET 1 ● High prevalence & burden: Prevalence of Osteoarthritis increases with age o 32M Americans today; projected 78M by 2040 o One of the most disabling diseases globally Prevalence (%) ● Unmet medical need: o No approved disease-modifying treatments o Current options:
Slide 15: Macrophages Are an Emerging New Target for Osteoarthritis Treatment
MACROPHAGES ARE AN EMERGING NEW TARGET FOR OSTEOARTHRITIS TREATMENT The role of innate immunity Imbalance of M1/M2 macrophages is in osteoarthritis: when our first line linked to severity level of knee of defense goes on the offensive. osteoarthritis. Eric W. Orlowsky and Baolong Liu, Maoquan Zhang,
Slide 16: Results from the Completed ENX-CL-05-001 Phase IIa
RESULTS FROM THE COMPLETED ENX-CL-05-001 – PHASE IIa IN PATIENTS WITH SYMPTOMATIC MODERATE TO SEVERE KNEE OA Nasdaq: ENLV | 16
Slide 17: ENX-CL-05-001: Phase I/IIa
ENX-CL-05-001: PHASE I/lla 2-stage trial design - randomized, double-blind, placebo-controlled, multi-country study Phase I: Dose escalation & safety Patient Criteria 15 patients ● Patients with symptomatic moderate to Independent safety committee→ no negative safety signal, highest dose selected fo
Slide 18: ENX-CL-05-001 Phase IIa Study Designed A Priori to Identify Correlation of Treatment Effect
ENX-CL-05-001 – PHASE IIa STUDY DESIGNED A PRIORI TO IDENTIFY CORRELATION OF TREATMENT EFFECT AND BASELINE FACTORS Heterogeneous patient population included OA leading experts forewarned indiscriminately us prior to study design Inflamm ation Purpose was to assess safety, efficacy, and potentially f
Slide 19: ENX-CL-05-001 Phase IIa Objectives Met
ENX-CL-05-001 – PHASE IIa OBJECTIVES MET: (a) FAVORABLE SAFETY PROFILE & POSITIVE EFFECT, (b) HIGH RESPONDERS WERE IDENTIFIED (REPRESENTING 50% OF THE KOA MARKET) ● We had clear success in isolating the key molecular disease for which our drug works well ● This finding directly illustrates that our
Slide 20: ENX-CL-05-001 Knee-Osteoarthritis Phase IIa Results - 3 & 6-Month Topline Data
ENX-CL-05-001 KNEE-OSTEOARTHRITIS PHASE IIa RESULTS - 3 & 6-MONTH TOPLINE DATA ANALYSIS Nasdaq: ENLV | 20
Slide 21: Competitive Comparison of Standardized Effect Sizes
COMPETITIVE COMPARISON OF STANDARDIZED EFFECT SIZES Standardized Effect Size Efficacy Endpoint mITT ≥60 ≥65 NRS Pain Change from Baseline (scale 0-10) 3 Months -0.22 -0.41 -0.76 6 Months -0.08 -0.30 -0.80 WOMAC Pain Change from Baseline (randomized 0-100) 3 Months -0.20 -0.53 -1.05 6 Months -0.05 -0
Slide 22: Pain NRS Weekly Change Over Time
PAIN NRS WEEKLY Age ≥60 (n=72) CHANGE OVER TIME NRS Pain Change Substantial and durable weekly pain NRS reduction compared to placebo, with increased effect Age ≥63 (n=55) trending with age. NRS Pain Change Age ≥65 (n=45) NRS Pain Change Placebo TM Allocetra Week (# of Patients) Nasdaq: ENLV | 22
Slide 23: Responder Rates (OMERACT-OARSI Criteria) – WOMAC Pain
RESPONDER RATES (OMERACT-OARSI CRITERIA) – WOMAC PAIN High responder rates compared to Age threshold 3m 6m placebo, with increasing percentages ≥ 60 Placebo 50% 58% trending with age Allocetra 71% 65% % better than placebo 41% 12% Trending with age p-value 0.0773 0.5604 ≥ 63 Placebo 37% 44% Allocetr
Slide 24: Allocetra Effect in Primary OA: WOMAC Pain Change, 3 Months
ALLOCETRA EFFECT IN PRIMARY OA: CLINICALLY MEANINGFUL, STATISTICALLY SIGNIFICANT, TRENDING WITH AGE (REDUCTION IN PAIN) WOMAC pain change 3 months, Primary OA population Age ≥ 60 (54% of patients) Age ≥ 63 (40% of patients) Age ≥ 65 (33% of patients) WOMAC pain change, 3 months TM TM AllocetraTM Pla
Slide 25: Allocetra Effect in Primary OA: WOMAC Pain Change, 6 Months
ALLOCETRA EFFECT IN PRIMARY OA: CLINICALLY MEANINGFUL, STATISTICALLY SIGNIFICANT, TRENDING WITH AGE (REDUCTION IN PAIN) WOMAC pain change 6 months, Primary OA population Age ≥ 60 (52% of patients) Age ≥ 63 (39% of patients) Age ≥ 65 (31% of patients) WOMAC pain change, 6 months TM TM AllocetraTM Pla
Slide 26: Allocetra Effect in Primary OA: WOMAC Total Change, 3 Months
ALLOCETRA EFFECT IN PRIMARY OA: CLINICALLY MEANINGFUL, STATISTICALLY SIGNIFICANT, TRENDING WITH AGE (REDUCTION IN PAIN & STIFFNESS, AND INCREASE IN FUNCTION) WOMAC total change 3 months, Primary OA population Age ≥ 60 (54% of patients) Age ≥ 63 (40% of patients) Age ≥ 65 (33% of patients) WOMAC pain
Slide 27: Allocetra Effect in Primary OA: WOMAC Total Change, 6 Months
ALLOCETRA EFFECT IN PRIMARY OA: CLINICALLY MEANINGFUL, STATISTICALLY SIGNIFICANT, TRENDING WITH AGE (REDUCTION IN PAIN & STIFFNESS, AND INCREASE IN FUNCTION) WOMAC total change 3 months, Primary OA population Age ≥ 60 (((52% of patients) Age ≥ 63 (39% of patients) Age ≥ 65 (31% of patients) WOMAC pa
Slide 28: Clinically Meaningful, Statistically Significant Positive Effect Correlated with Age Threshold
CLINICALLY MEANINGFUL, STATISTICALLY SIGNIFICANT POSITIVE EFFECT, HIGHLY CORRELATED WITH PRIMARY OA AGE THRESHOLD The positive effect of AllocetraTM on pain & function is substantial, with at least 6-month durability. Change from baseline - 3 months Change from baseline - 6 months Allocetra Placebo
Slide 29: ENX-CL-05-001 Summary
ENX-CL-05-001 Summary: Durable clinically meaningful, statistically significant positive effect, highly correlated with primary OA age threshold The positive effect of AllocetraTM on pain & function is substantial, with at least 6-month durability. Results are normalized to 0-100 scale 29
Slide 30: Safety Profile: Allocetra Demonstrated a Favorable Safety Profile
TM SAFETY PROFILE: ALLOCETRA DEMONSTRATED A FAVORABLE SAFETY PROFILE, NO RELATED SERIOUS ADVERSE EVENTS WERE REPORTED ● As observed also in earlier clinical data in severe OA subjects, some patients injected with Allocetra experienced local responses following injection (84% of patients treated with
Slide 31: ENX-CL-05-002, a Phase IIb in primary age-related KOA patients
ENX-CL-05-002, a PHASE IIb in primary age-related KOA patients Randomized, double-blind, placebo-controlled, multi-country study First Patient dosed in US Phase IIb: Randomized, double-blind, placebo-controlled AllocetraTM (1 or 2 doses) vs. Placebo , 3 injections in total, each injection 2 weeks fr
Slide 32: The Quality Longevity Opportunity
The Quality Longevity Opportunity Management team with a track record of creating shareholder value and getting drug products through marketing approvals globally in multi-billion dollar market segments. Cost-effective, novel therapeutic modality with strong IP protection. Targeted at high and low g
Slide 33: Extensive IP Protection
EXTENSIVE IP PROTECTION Australia Canada China Expected 11 22 France protection up to 2043 USA Germany Patents Patents Israel Japan United Kingdom Nasdaq: ENLV | 33
Slide 34: Enlivex Quality Longevity Team
Enlivex Quality Longevity Team Shai Novik Oren Hershkovitz, Ph.D. Prof. Dror Mevorach, M.D. Executive Chairman Chief Executive Officer Co-Founder & Scientific Adviser Shai Novik is Co-Founder and Executive Dr. Oren Hershkovitz, CEO of Enlivex sin ce 2019, is a Prof. Dror Mevorach, co-founder of Enli
Slide 35: Thank You
ScEnlivex &§ | i | THANK YOU