AbCellera Biologics Inc. · NASDAQ:ABCL
AbCellera Biologics — AbCellera — Investor Presentation (May 2026)
36 slides from AbCellera Biologics's investor presentation, May 2026
Slide 1: AbCellera Corporate Overview
AbCellera Corporate Overview COPYRIGHT © ABCELLERA May 2026
Slide 2: Disclaimer
DISCLAIMER This presentation contains forward-looking statements, including statements made These statements involve risks, uncertainties and other factors that may cause pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act actual results, levels of activity, perfor
Slide 3: We are a clinical-stage biotech company
We are a clinical-stage Programs 20+ 2 2 biotech company We are advancing an internal Internal Molecules in Molecules pipeline of programs. program IND-enabling in the clinic1 starts activities focused on developing Platform ~$1B 300K+sq ft novel antibody Corporate Overview We have built a fully int
Slide 4: Platform built through 10+ years of drug discovery partnerships
100+ 12 Our platform was built partner-led programs molecules from partner-led through 10+ years of supported programs are understood to be progressing in the clinic* drug discovery AbbVie partnerships. Corporate Overview Since 2014, we have partnered with some of the industry’s most innovative phar
Slide 5: Use our competitive advantage in antibody drug creation to build a pipeline
STRATEGY Use our competitive Discovery for GPCR and ion channel targets advantage in antibody drug creation to build Corporate Overview Novel modalities, including multispecifics and ADCs a pipeline of differentiated assets. Indication agnostic COPYRIGHT © ABCELLERA 5
Slide 6: Internal Pipeline
INTERNAL PIPELINE Two programs in the clinic, two programs in IND-enabling activities, and 20+ programs in discovery. MOLECULE TARGET THERAPEUTIC AREA STAGE Discovery IND-Enabling Phase 1 Phase 2 Phase 3 ABCL635 Corporate Overview NK3R Endocrinology & Women’s Health ABCL575 OX40L Immunology & Inflamm
Slide 7: 2026 Priorities
2026 PRIORITIES Advance pipeline to key data readouts for ABCL635 and ABCL575, and set up for additional three INDs in 2027. Corporate Overview ABCL635 Phase 2 clinical trial ABCL688 progressing through topline readout in Q3 2026 IND-enabling activities Nominate at least 1 additional development can
Slide 8: Two readouts in 2026 and potential catalysts in 2027
Two readouts in 2026 & potential for multiple catalysts in 2027 2026 2027 Q1 Q2 Q3 Q4 Potential Catalysts in 2027 Readout ABCL635 Phase 1/2 Late stage development of ABCL635 in Menopausal VMS menopausal VMS ABCL635 Initiation of Phase 2 studies of ABCL635 in Corporate Overview VMS in Oncology oncolo
Slide 9: Internal Programs
9 COPYRIGHT © ABCELLERA Corporate Overview Internal Programs
Slide 10: ABCL635
COPYRIGHT © ABCELLERA 10 Corporate Overview ABCL635 Internal Programs
Slide 11: ABCL635: first-in-class antibody for non-hormonal VMS treatment
INTERNAL PIPELINE ABCL635 is a potential first-in-class antibody for the non-hormonal treatment of vasomotor symptoms (hot flashes) Target Target Type Neurokinin 3 receptor (NK3R) G protein-coupled receptor (GPCR) Corporate Overview Indication Moderate-to-severe vasomotor symptoms (VMS) associated wit
Slide 12: ABCL635 could address a large unmet need in VMS
INTERNAL PIPELINE ABCL635 could help to address a large unmet need for the treatment of VMS associated with menopause Clinical Need Market Opportunity Investment Thesis 4+ years 1M+ women Reduce VMS Corporate Overview is the median duration for vasomotor could benefit from safe and effective non-horm
Slide 13: ABCL635 Science: Reproductive State
ABCL635 Science NK3R antagonists are effective, non-hormonal options for VMS. Reproductive State Corporate Overview COPYRIGHT © ABCELLERA 13
Slide 14: ABCL635 Science: Menopause
ABCL635 Science NK3R antagonists are effective, non-hormonal options for VMS. Menopause Corporate Overview COPYRIGHT © ABCELLERA 14
Slide 15: ABCL635 Science: Treatment
ABCL635 Science NK3R antagonists are effective, non-hormonal options for VMS. Treatment Corporate Overview COPYRIGHT © ABCELLERA 15 Proposed mechanism of action for ABCL635 based on AbCellera nonclinical data and published literature.
Slide 16: ABCL635 Differentiation
ABCL635 Differentiation Recently approved NK3R therapies are building the market. Fezolinetant Elinzanetant Small molecule NK3R antagonist Small molecule NK3R and NK1R antagonist Corporate Overview Stage Stage Approved by US FDA on May 12, 2023 Approved by US FDA October 24, 2025 Dosing Dosing Daily
Slide 17: ABCL635 Phase 1 study design
ABCL635 Phase 1 in healthy volunteers is a randomized, double-blind, placebo-controlled, first-in-human study Part A: Single ascending dose (SAD) Part B: Multiple ascending dose (MAD) N = 40 N = 16 Participants 40 healthy men and postmenopausal women, 40-65 year old 16 postmenopausal women with or w/
Slide 18: ABCL635 SAD demographic characteristics
ABCL635 Phase 1 SAD: Demographic Characteristics ABCL635 SAD cohorts include healthy 40-65 year Cohorts A1-A5 Total Pooled old men and postmenopausal women. SAD Safety ABCL635 Placebo Population 30 mg 100 mg 300 mg 600 mg 900 mg (N=30) (N=10) ● All ABCL635 cohorts included at (N=6) (N=6) (N=6) (N=6)
Slide 19: SAD: ABCL635 demonstrates favorable tolerability profile
Phase 1 SAD: ABCL635 demonstrates favorable tolerability profile Adverse events reported in at least two study participants regardless of relationship Adverse Event ABCL635 Total Pooled Preferred Term Cohorts A1-A5 ABCL635 placebo (N=30) n (%) (N=10) n (%) ● No serious or severe adverse Corporate Ove
Slide 20: SAD: No liver safety signal observed to date
ABCL635 Phase 1 SAD: No liver safety signal observed to date Mean liver function tests (AST, ALT, bilirubin) remained stable across all doses Aspartate aminotransferase (AST) Alanine aminotransferase (ALT) Bilirubin Mean upper limit of normal (ULN) Corporate Overview Dose COPYRIGHT © ABCELLERA Data
Slide 21: SAD/MAD: ABCL635 exhibited favorable PK profile
Phase 1 SAD/MAD: ABCL635 exhibited favorable PK profile supportive of monthly dosing Pharmacokinetics SAD MAD Corporate Overview ● Linear pharmacokinetics ● Exposure is approximately dose-proportional ● Mean terminal half-life of ~24 days supportive of monthly (Q4W) dosing COPYRIGHT © ABCELLERA Data
Slide 22: Testosterone suppression is a biomarker of NK3R antagonism
Testosterone suppression is a biomarker of NK3R antagonism in KNDy neurons NK3R blockade on KNDy neurons reduces GnRH secretion from the Testosterone* (placebo-corrected change from baseline, %) hypothalamus, causing downstream reductions in testosterone Fezolinetant, Male volunteers, 0-24 hours, Ph
Slide 23: SAD: ABCL635 demonstrates target engagement of NK3R
Phase 1 SAD: ABCL635 demonstrates target engagement of NK3R Dose-dependent and sustained testosterone suppression Testosterone (placebo-corrected change from baseline, %) Testosterone* (placebo-corrected change from baseline, %) ABCL635, Male volunteers (N=11), 0-12 weeks, Phase 1 SAD trial Fezoline
Slide 24: SAD: ABCL635 reduces stimulation of the GnRH axis
Phase 1 SAD: ABCL635 reduces stimulation of the GnRH axis Dose-dependent and sustained FSH and LH suppression Placebo-adjusted FSH suppression Placebo-adjusted LH suppression ABCL635, Male volunteers, 0-12 weeks, Phase 1 SAD trial Corporate Overview Change in FSH (%) Change in LH (%) Dose Dose 30 mg
Slide 25: ABCL635 Phase 1 data supported advancing to Phase 2
INTERNAL PIPELINE ABCL635 Phase 1 data supported advancing to Phase 2 SAFETY/TOLERABILITY ENDPOINT PHARMACOKINETIC ENDPOINT PHARMACODYNAMIC ENDPOINT Favorable tolerability PK profile supports once Biomarker data suggests profile with no observed monthly subcutaneous strong and sustained Corporate Over
Slide 26: ABCL635 Phase 2 currently enrolling, topline Q3 2026
INTERNAL PIPELINE ABCL635 Phase 2 currently enrolling with topline results expected in Q3 2026 Phase 2 Study Design Topline Data in Q3 ● Randomized, double-blind, placebo-controlled, multicenter trial in Corporate Overview postmenopausal women with moderate-to-severe VMS, 40-75 years old ● Single do
Slide 27: ABCL635 in Phase 2 with readout anticipated Q3 2026
INTERNAL PIPELINE ABCL635 In Phase 2 clinical trial with readout anticipated NK3R Antagonist in Q3 2026. Science Commercial Opp Differentiation Development Path Corporate Overview ● Pathway validated with ● ~12 million women in the ● Potential first-in-class ● Clear clinical development small molecul
Slide 28: ABCL575
COPYRIGHT © ABCELLERA 28 Corporate Overview ABCL575 Internal Programs
Slide 29: ABCL575: potential best-in-class antibody for atopic dermatitis
INTERNAL PIPELINE ABCL575 is a potential best-in-class antibody for the treatment of atopic dermatitis. Target Corporate Overview OX40 Ligand (OX40L) Indication Atopic Dermatitis (AD) Therapeutic Area Immunology & Inflammation Status Phase 1 COPYRIGHT © ABCELLERA 29
Slide 30: ABCL575 Phase 1 readout anticipated in 2026
INTERNAL PIPELINE ABCL575 Readout of Phase 1 clinical study OX40L Antagonist anticipated in 2026 Science Commercial Opportunity Differentiation Development Path Corporate Overview ● OX40L mechanism of action • Atopic dermatitis is an $11B+ ● Competitive space with ● Well-established clinical establi
Slide 31: ABCL575 Science: Atopic Dermatitis
ABCL575 Science ABCL575 targets multiple immune pathways. Atopic Dermatitis Corporate Overview COPYRIGHT © ABCELLERA 31
Slide 32: ABCL575 Science: Treatment
ABCL575 Science ABCL575 targets multiple immune pathways. Treatment Corporate Overview COPYRIGHT © ABCELLERA 32 Proposed mechanism of action for ABCL575 based on AbCellera nonclinical data and published literature.
Slide 33: Royalty Portfolio & Partnered Programs
Corporate Overview Royalty Portfolio & Partnered Programs COPYRIGHT © ABCELLERA 33
Slide 34: AbCellera has a portfolio of downstream stakes
Corporate Overview COPYRIGHT © ABCELLERA AbCellera has a portfolio of downstream stakes. 1 Understood to be progressing. 34
Slide 35: Molecules with downstream participation
14 molecules with downstream participation are currently understood to be progressing. MOLECULE MOST ADVANCED STAGE THERAPEUTIC AREA(S) PARTNER PROGRAM TYPE ABCL635 Phase 2 • endocrinology / women's health n/a AbCellera-led ABCL575 Phase 1 • immunology and inflammation Phase 1 (Fast Track-and orphan
Slide 36: Thank You
COPYRIGHT © ABCELLERA 36 Corporate Overview THANK YOU