Slide 1: Pioneering mRNA Cell Therapy for Autoimmunity
® THERAPEUTICS Pioneering mRNA Cell Therapy for Autoimmunity August 2024 C A R T E S I A N T H E R A P E U T I C S Exhibit 99.2
Slide 2: Forward-Looking Statements Disclosures
Forward-Looking Statements Disclosures For the purposes of this notice, the “presentation” that follows shall mean and include the slides that follow, the oral presentation of the slides by members of management of Cartesian Therapeutics, Inc. (the “Company”) or any person on their behalf, any quest
Slide 3: Clinical-stage company pioneering mRNA cell therapies for autoimmunity
3 Clinical-stage company pioneering mRNA cell therapies designed to expand the reach of cell therapy to autoimmunity • Pipeline of mRNA cell therapies designed to be dosed more reliably and safely in an outpatient setting without lymphodepletion • Descartes-08: Potential first-in-class mRNA CAR T-ce
Slide 4: Experienced management team to lead the mRNA cell therapy company of the future
Experienced management team to lead the mRNA cell therapy company of the future Matthew Bartholomae General Counsel Metin Kurtoglu, MD, PhD CTO Milos Miljkovic, MD CMO Blaine Davis CFO Chris Jewell, PhD CSO Carsten Brunn, PhD President and CEO MANAGEMENT Emily English, PhD SVP, Head of Manufacturing
Slide 5: Cartesian's mRNA approach designed to expand the reach of potent cell therapy to autoimmunity
• mRNA cell therapy does not require lymphodepleting chemotherapy • No associated cytopenia, secondary malignancies, or other chemotherapy toxicities • Reduced burden on patients, caregivers, and healthcare system • Convenient dosing schedule Cartesian’s mRNA approach is designed to expand the reach
Slide 6: Wholly-owned pipeline targets autoimmune disease
Wholly-owned pipeline targets autoimmune disease * IND for pediatric basket trial expected by year-end 2024, includes juvenile SLE, juvenile MG and other conditions ** Phase 1 dose escalation trial in myeloma underway, first patient dosing expected by year-end Asset Indications Discovery/Preclinical
Slide 7: Descartes-08 is believed to be the first mRNA CAR-T in clinical development for autoimmune disease
® THERAPEUTICS 7 Descartes-08 is believed to be the first mRNA CAR-T in clinical development for autoimmune disease Engineered by transfection of autologous CD8+ T cells with mRNA encoding anti-BCMA CAR Typical lot processed for infusion within ~3 weeks Granted U.S. FDA orphan and RMAT designations
Slide 8: Myasthenia gravis is a rare, progressive autoimmune disease with significant unmet need
Current treatments require chronic or frequent administration and have limited durability >120,000 Patients in the U.S. and EU Significant unmet need remains Characterized by debilitating fatigue and muscle weakness Limbs Respiratory Ocular Facial Myasthenia gravis is a rare, progressive autoimmune
Slide 9: Descartes-08 in MG Phase 2b Topline Results
® THERAPEUTICS Met primary endpoint • 71% response rate at Month 3 for Descartes-08 patients vs. 25% for placebo (p<0.05) Deep, durable responses observed in patients treated with Descartes-08 Safety profile continues to support outpatient administration Data support advancement to Phase 3 9 Descart
Slide 10: Phase 2b trial design in myasthenia gravis
Day -70 Day -60 Day -50 Day -40 Day -30 Day -20 Day -10 Phase 2b trial: double-blind, placebo-controlled clinical trial of Descartes- 08 in patients with myasthenia gravis Leukapheresis & Cell Processing Days -59 to -10 Randomization WK1 6 8 12 Blinded Dosing Six weekly doses of Descartes-08 or plac
Slide 11: Statistically significant improvements in Descartes-08 patients at Month 3
® THERAPEUTICS 11 Mean decrease from Baseline in the prespecified primary efficacy population (n=26) • p<0.05 by Mann-Whitney U test at Month 3 in MGC and MG-ADL LRP4+, low-density lipoprotein receptor-related protein 4 Statistically significant improvements observed in Descartes-08 patients at Mont
Slide 12: Deep and durable responses in Descartes-08 responders through Month 6
® THERAPEUTICS 12Mean decrease from Baseline in MGC Responders (participants who achieved a ≥5-point reduction in MGC at Month 3, n=10. Month 4 n=5, Month 6 n=3. Deep and durable responses observed in Descartes-08 responders through Month 6 • Results consistent with Phase 2a open-label trial finding
Slide 13: Safety results support outpatient administration
® THERAPEUTICS Observed safety results support outpatient administration and in line with Phase 2a observations 13 Descartes-08 (n=19) Placebo (n=17) Grade 1 Grade 2 Grade 3 Grade 1 Grade 2 Grade 3 Headache 6 (32%) 4 (21%) 2 (12%) 3 (18%) Chills 7 (37%) 4 (21%) 1 (6%) Nausea 2 (11%) 5 (26%) 2 (12%)
Slide 14: Phase 2a update: retreatment led to sustained clinically meaningful responses
® THERAPEUTICS Phase 2a update: Descartes-08 retreatment led to sustained clinically meaningful responses Manuscript submitted for peer review; pre-print available at medRxiv.org Pa tie nt 1 Pa tie nt 2 14 • Retreated patients experienced rapid improvement in clinical scores and maintained minimal s
Slide 15: Planned next steps for Descartes-08 in MG
Planned next steps for Descartes-08 in MG 15 EoP2 meeting with FDA expected by year-end Initiate Phase 3 clinical trial RMAT designation to support efficient development plan in collaboration with FDA
Slide 16: Exploring potential of Descartes-08 in Systemic Lupus Erythematosus
Exploring potential of Descartes-08 in Systemic Lupus Erythematosus (SLE) 16 • Open-label trial in up to 30 adults with moderate to severe multi-refractory SLE and no CNS involvement • Designed to assess safety, tolerability, and manufacturing feasibility of Descartes-08 in patients with SLE • Secon
Slide 17: Leveraging proof-of-concept of Descartes-08 in MG to expand autoimmune pipeline
SLE • Open-label Phase 2 trial • First patient dosed Potential New Indications • Pediatric autoimmune diseases • Neurological and rheumatological autoimmune diseases MG • EoP2 FDA meeting expected by end of 2024 • Potential initiation of Phase 3 trial following FDA meeting Leveraging clinical proof-
Slide 18: Descartes-15, a next generation anti-BCMA mRNA CAR-T with >10x potency in preclinical studies
Descartes-15, a next generation anti-BCMA mRNA CAR-T with >10x potency observed in preclinical studies Potent killing (single target exposure) Persistent killing (multiple exposures) (1:2) (1:8) (1:32) 0 50 100 % S pe ci fic K ill in g DC-15 DC-08 Vehicle EP escartes-08 escartes-15 Control (1:2) (1:
Slide 19: Wholly-owned, in-house manufacturing: 27,000 sq. ft. cGMP facility
Wholly-owned, in-house manufacturing: 27,000 sq. ft. state-of-the-art cGMP facility Ownership of quality control and production timelines Flexibility to quickly adapt to changes in processes or needs Potential cost efficiency Clinical and commercial manufacturing scale capabilities support maturing
Slide 20: Maturing pipeline offers potential for multiple catalysts
Maturing pipeline offers potential for multiple catalysts 20 Descartes-08 in MG Descartes-08 in SLE Descartes-08 Pediatric Basket Trial EoP2 meeting with FDA expected by end of 2024; potential initiation of Phase 3 trial to follow Phase 2 open-label trial ongoing, with first patient dosed in 1H 2024
Slide 21: Strong Financial Position Expected to Support Pipeline Through Key Milestones
® THERAPEUTICS Strong Financial Position Expected to Support Pipeline Through Key Milestones *Includes settlement of 3.6 million common stock from July 2024 PIPE financing. **Further includes approximately 166.3 thousand shares of Series A Non-Voting Convertible Preferred Stock and approximately 2.9
Slide 22: Pipeline designed to expand the reach of cell therapy to autoimmunity
® THERAPEUTICS P I O N E E R I N G m R N A C E L L T H E R A P I E S Pipeline designed to expand the reach of cell therapy to autoimmunity M A T U R I N G P I P E L I N E W I T H E X P E C T E D N E A R - T E R M C A T A L Y S T S Clinically differentiated platform with EoP2 meeting for Descartes-08
Slide 23: Pioneering mRNA Cell Therapy for Autoimmunity
® THERAPEUTICS Pioneering mRNA Cell Therapy for Autoimmunity C A R T E S I A N T H E R A P E U T I C S
Slide 24: Appendix
® THERAPEUTICS Appendix
Slide 25: Descartes-08 designed for dual action targeting two key BCMA+ cell populations
Descartes-08 is designed for dual action, precisely targeting two key BCMA+ cell populations involved in a spectrum of autoimmune diseases 25 Several autoimmune disease segments involve pathogenic contributions from both PCs/plasmablasts and pDCs, including rheumatology, nephrology, neurology, and o
Slide 26: Phase 2b: patients in the pre-specified primary efficacy dataset
Phase 2b: 14 patients received Descartes-08 and 12 patients received placebo in the pre-specified primary efficacy dataset 27 Academic medical centers 9 Community clinics 1 Early drop-out 26 Primary efficacy dataset 14 Randomized to Descartes-08 12 Randomized to placebo 5 Randomized to Descartes-08
Slide 27: Phase 2b baseline characteristics: highly symptomatic patient population
Phase 2b baseline characteristics: highly symptomatic patient population with severe disease 1 For AChR, MuSK, and LRP4 antibodies 27 Mean age, years (SD) Female Male Weight Mean weight, kg (SD) White, non-Hispanic Other II III IV Anti-AChR antibody Anti-LRP4 antibody Seronegative1 QMG MG-ADL MGC MG
Slide 28: Phase 2b prior and ongoing treatments: heavily pre-treated population
Phase 2b prior and ongoing treatments: heavily pre-treated patient population * Significant imbalance (p<0.05) 28 Descartes-08 Placebo Total Pyridostigmine 9 (64%) 8 (67%) 17 (65%) Prednisone 8 (57%) 6 (50%) 14 (54%) Other immunosuppressants 8 (57%) 9 (75%) 17 (65%) Complement inhibitor 3 (21%) 5 (4
Slide 29: Descartes-08: Durable depletion of autoantibodies consistent with clinical responses
® THERAPEUTICS 29 Descartes-08: Durable depletion of autoantibodies consistent with observed clinical responses and MoA • Three participants from Phase 2a study with detectable AChR antibody levels at baseline experienced autoantibody reductions by Month 6 • Reductions deepened further by Month 9, a
Slide 30: BCMA-targeting CAR-T may enable precision reset of autoantibody-producing PCs
® THERAPEUTICS Clinical analyses of antigen-depletion therapies show BCMA-targeting with CAR-T may enable precision reset of autoantibody- producing PCs 30Bodansky et al., doi: 10.1101/2023.12.19.23300188 Rituximab (CD20+ cell depletion) Anti-CD19 CAR-T (CD19+ cell depletion) Anti-BCMA CAR-T (BCMA+
Slide 31: Cartesian differentiation versus integrating-vector CAR-T therapies
Cartesian differentiation: Approved CAR-T therapies and other trials in the autoimmune space face fundamental hurdles created by integrating vectors 31 Conventional CAR-T (integrating viral vectors) targeting CD19 • Creates significant burden for patients in three areas • hospital admission • lympho