Perseus Proteomics, Inc. · TSE:4882
Perseus Proteomics — H1 FY2026/3 Earnings Presentation
39 slides from Perseus Proteomics's earnings presentation, Nov 18, 2025
Slide 1: FY2026/3 1st Half Business Results
FY2026/3 1st Half Business Results November 18, 2025 Perseus Proteomics Inc. (Securities code: 4882)
Slide 2: Table of Contents
Table of Contents 01 About Perseus Proteomics 02 Business Overview 03 FY2026 Q2 Financial Summary 04 Measures to Accelerate Business Activities 05 Future Business Developments 2
Slide 3: 01 About Perseus Proteomics
01 About Perseus Proteomics 3
Slide 4: Company Overview
Company Overview We contribute to global healthcare with cutting-edge antibody technology Company name Perseus Proteomics Inc. (PPMX) ----- Our Business Model ----- Established February 2001 Upfront payment Business ⚫ Antibody (Ab) drug discovery R&D of Ab Milestone income ⚫ Ab research support Drug
Slide 5: 02 Business Overview
02 Business Overview 5
Slide 6: FY2026 Plans and Q2 Progress
FY2026 Plans and Q2 Progress Plans Progress Out-licensing Activities: • Ongoing out-licensing activities leveraging 1 PPMX-T003 / PPMX-T002 domestic and international networks • Four cases have been enrolled Clinical Development: • Based on investigator’s decision, trial period ２ Physician-initiated
Slide 7: FY2026 Q2 Highlights
FY2026 Q2 Highlights ① Signed joint research agreement with Aska Pharmaceutical to create new antibody therapeutics ② Selected for A-STEP Industry-Academia Joint Stage II (Full-scale Phase) ③ Joined AMED "New Modality Consortium" 7
Slide 8: Signed Joint Research Agreement with Aska Pharmaceutical to Create New Antibody Therapeutics
① Signed Joint Research Agreement with Aska Pharmaceutical to Create New Antibody Therapeutics Specialty Pharma Antibody Discovery Venture Joint Research Agreement × -Strengths- -Strengths- Extensive experience and track record in Research and development of novel internal medicine, obstetrics and t
Slide 9: Selected for A-STEP Industry-Academia Joint Stage II
② Selected for A-STEP Industry-Academia Joint Stage II Topic: Construction of a platform for creating fully natural IgG- type bispecific antibody therapeutics Osaka Metropolitan About A-STEP Academia-Industry Joint Research Stage II University Purpose: To validate the feasibility of practical applic
Slide 10: Selected for A-STEP Industry-Academia Joint Stage II
② Selected for A-STEP Industry-Academia Joint Stage II Topic: Construction of a platform for creating fully natural IgG- type bispecific antibody therapeutics Challenges Bispecific antibodies (BsAb) are next-generation therapeutics with functions cancer cell T cell unattainable by conventional antib
Slide 11: Joined AMED "New Modality Consortium"
③ Joined AMED "New Modality Consortium" About the "New Modality Consortium" Impact on Our Business • Enables efficient, early access to promising seeds at universities, etc. • By matching our proprietary technology with new seeds, increases opportunities to expand our pipeline • The cost required fo
Slide 12: Status of Development Pipeline
Status of Development Pipeline ＊ RI:90Y ** RI:225Ac 1) Aggressive NK-cell leukemia 2) Radioisotope-labeled antibody 3) Antibody Drug Conjugate 12
Slide 13: Status of Drug Discovery Pipeline
Status of Drug Discovery Pipeline Not disclosed 1) Multi-specific antibodies 2) Antibody Drug Conjugates 3) IgG antibodies ※ Some information not disclosed 13
Slide 14: PPMX-T003: Progress in Polycythemia Vera Area
PPMX-T003: Progress in Polycythemia Vera Area Status of out-licensing activities Iron uptake protein Iron transport protein (TfR1: red) (Transferrin: green) ⚫ Continuing out-licensing activities using domestic and international networks Latest status ⚫ Preparation of clinical trial paper for （PDB ID
Slide 15: PPMX-T003: Phase I/II (Investigator-Initiated Clinical Trial) for ANKL
PPMX-T003: Phase I/II (Investigator-Initiated Clinical Trial) for ANKL Dose escalation/de-escalation schedule (Medium dose group) Clinical trial overview ⚫ Study design : Open-label, non-comparative, dose-escalation ⚫ Target : Aggressive NK-cell leukemia (ANKL) - Ultra-rare disease - No effective tr
Slide 16: PPMX-T003: Phase I/II (Investigator-Initiated Clinical Trial) for ANKL
PPMX-T003: Phase I/II (Investigator-Initiated Clinical Trial) for ANKL Hokkaido Tohoku Latest status University University Hospital Kyoto Hospital University ⚫ Four cases have been enrolled Tokyo Hospital ⚫ Trial period to be extended by one year, until Okayama Metropolitan University Komagome March
Slide 17: PPMX-T002: Progress Status
PPMX-T002: Progress Status Experimental results in mice Antibody structure (mm3) Antibody 抗体 Radioisotope 放射性同位体 PPMX-T002 (90Y) 90Y ⇒ 225Ac Tumor size PPMX-T002 (225Ac) (day) Days after PPMX-T002 administration Status of out-licensing activities To further enhance antitumor effects, the radioisotop
Slide 18: PPMX-T004: Progress Status
PPMX-T004: Progress Status Results of comparisons between different DAR* values of Antibody structure PPMX-T004b (DAR2, DAR4, DAR8) and competitor efficacy n Small molecule Antibody Linker anticancer drug Latest Status ⚫ PPMX-T004b-PGAP-1 is an antibody-drug conjugate (ADC) targeting CDH3, which is
Slide 19: 03 FY2026 Q2 Financial Summary
03 FY2026 Q2 Financial Summary 19
Slide 20: FY2026 Q2 Results
FY2026 Q2 Results : ⚫ Income Statement (Unit: million yen) FY2025/3 FY2026/3 First half First half Sales 59 60 Antibody research support Antibody/reagent sales Gross profit 55 57 SG & A 469 457 R&D expenses 304 310 Other PPMX-T003 ANKL clinical trial 164 146 PPMX-T004 nonclinical study expenses Oper
Slide 21: FY2026 Q2 Financial Position
FY2026 Q2 Financial Position ⚫ Balance Sheet (Unit: million yen) Assets Liabilities 2025/3/31 2025/9/30 2025/3/31 2025/9/30 Cash & deposits 1,667 1,385 Current liabilities 124 97 Total current assets 1,775 1,447 Non-current liabilities 261 311 Non-current assets 42 14 Total liabilities 386 408 Total
Slide 22: Measures to Accelerate Business Activities
Measures to Accelerate 04 Business Activities 22
Slide 23: Three New Measures to Accelerate Business Activities
Three New Measures to Accelerate Business Activities Vast antibody collection tagged with ID-Tags PPMX Library 2 (PPMX Digital Library) Efficient antibody design through integration of experiments and AI AI Hybrid Drug Discovery Rapid acquisition of diverse antibodies Single B-cell platform technolo
Slide 24: PPMX Antibody Library 2 (PPMX Digital Library)
PPMX Antibody Library 2 (PPMX Digital Library) Features: Difference from PPMX Antibody Library 1 Image Sequence analysis method PPMX Antibody Library 1 Analysis count → Hundreds of clones H chain L chain Established technology Able to obtain excellent antibodies so far PPMX Antibody Library 2* Analy
Slide 25: AI Hybrid Drug Discovery
AI Hybrid Drug Discovery Hybridoma method Phage display method single B cell screening method immunity single-cell isolation phage antibody preparation antigen-antibody PBMC, reaction infection with E. coli spleen- derived cells B cells myeloma cells Elution, washing Mouse rabbit human ab ab ab hybr
Slide 26: AI Hybrid Drug Discovery
AI Hybrid Drug Discovery Drug Discovery Process Candidate antibody Target Creation of new antibodies identification Design Antibody discovery Improvement of antibody specificity Structure prediction Generation Antibody optimization AI Performance prediction Test Test Nonclinical Improvement of physi
Slide 27: 05 Future Business Development
05 Future Business Development 27
Slide 28: Future Business Development
Future Business Development By combining the latest AI drug discovery technology with our core competence—cutting-edge antibody acquisition technology—we promote, strengthen, and support each business in a multi-faceted way AI Hybrid Drug Discovery Antibody acquisition technology Hybridoma method Si
Slide 29: https://www.ppmx.com/en/ This presentation material is prepared only to provide information for reference on investment,
[Inquiry] Email: ir@ppmx.com https://www.ppmx.com/en/ This presentation material is prepared only to provide information for reference on investment, not to promote investment. The final decision on investment shall be made on your own. This presentation material includes forecast or estimates for t
Slide 30: PPMX-T003: Position & superiority among competitive PV drugs
1 PPMX-T003: Position & superiority among competitive PV drugs PV characteristics: : 60~ or thrombosis in the past : under 60, no history of increase in RBC ⇒ blood viscosity↑ ⇒ thrombosis (certain level of SEs are tolerable) thrombosis High risk Low risk Inhibits hematopoiesis Decrease in internal
Slide 31: PPMX-T003 market: Recent out-licensing deals for PV treatment drugs
1 PPMX-T003 market: Recent out-licensing deals for PV treatment drugs (booming market) Time Jan. 2023*1 Jan. 2024*2 Mar. 2025*3 Item MWTX-003/DISC-3405 PTG-300 Sapablursen Licensee/ Acquiree Mabwell Therapeutics（CN） Protagonist Therapeutics (US) Ionis Pharmaceuticals (US) Licenser/ Acquirer Disc Med
Slide 32: Future targets are highly difficult antigens - Speed is key in identifying Abs
Future targets are highly difficult antigens - Speed is key in identifying Abs Screening Ab library at laboratory Conventional New • Search for Ab to bind To be assessed: 100-200 clones antigen Usual • Increase candidates Generated Abs : 10-20 clones • Select the best Candidates: a few clones antige
Slide 33: Expand applications through advancing Ab library
PPMX Ab Library 2 H chain Ｈchain L chain DNA sequence L chain Insert barcode sequence (ID-Tag) corresponding to L chain between H chain and L chain PPMX Ab Library 2 (New) 100 times more variety than competitors Deepen within the same concept as PPMX Ab Library 1 ID-tagged library Analyze all sequen
Slide 34: Technology frames to obtain Abs targeting highly difficult antigens
Technology frames to obtain Abs targeting highly difficult antigens 1 Unique PPMX Ab Library 2 with high diversity (with ID) 2 Remove Non-Specific Binding Impurities by ICOS Othe rs method （Remove noises chemically） 3 Analyze Ab sequences of all experiments results utilizing 1 （Remove noises digital
Slide 35: Future Business Expansion
Future Business Expansion Through our core competence—cutting-edge antibody acquisition technologies—we provide multifaceted support and reinforcement to each of our businesses. Ab acquisition technologies R&D of Ab Single B cell Antibody Drugs screening method acquisition against highly Hybridoma m
Slide 36: Appendix
Appendix 36
Slide 37: High safety Ab drug
Antibody drugs ⚫ Remove alien objects inside body ⚫ Innate immune system High safety ⚫ Act on specific antigens (targets) only Antibody ⇒ ideal molecule targeting drug with few adverse effects Antigen A Ab drug Medical drug consisting of Antibody A antibody designed to act Cancer cell Normal cell on
Slide 38: Focus of Ab drug discovery competition
Focus of Ab drug discovery competition To the top of Ab biotech ventures utilizing superiority in technology Clinical Out- Select theme Obtain best Ab development licensing Needs ⚫ Collect as many as Abs Most important for business progress Market superiority ⚫ Select the best Ab efficiently Centre
Slide 39: Cover the methods to create Ab drugs and pursue cutting-edge technology
Cover the methods to create Ab drugs and pursue cutting-edge technology 1 Recovered patients 2 Animal immune 3 Phage display method Disease essence and clues Exquisite for gene manipulating Combine sequence info of NGS for medical drugs drug discovery analysis and actual data Recovered Screening bas
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