Connect Biopharma Holdings Limited · NASDAQ:CNTB
Connect Biopharma — Technical Presentation (September 2026)
16 slides from Connect Biopharma's technical presentation, Sep 15, 2026
Slide 1: Rademikibart Add-on Treatment of an Acute Asthma Exacerbation (Seabreeze STAT Asthma)
CBP-201-206 Rademikibart Add-on Treatment of an Acute Asthma Exacerbation (Seabreeze STAT Asthma) Exhibit 99.2
Slide 2: Forward-looking statements
2 This presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the “Act”). Forward-looking statements are statements that are not of historical fact and include, without limitation, statements regarding future events,
Slide 3: Study 206 Preliminary Topline Results
3 • 66% reduction in Treatment Failure (TxF) events compared to placebo by Day 28 • Although reduction in TxF observed with rademikibart was approximately 50% greater than projected, statistical significance not achieved (p=0.153) due to much lower overall rate of TxF events than projected from ABRA
Slide 4: Phase 2 Clinical Trial of Rademikibart: STAT Asthma Study Design
4 Phase 2 Clinical Trial of Rademikibart for Treatment of Acute Asthma Exacerbations Abbreviations: COPD = Chronic obstructive pulmonary disease; FEV1 = forced expiratory volume in 1 second; PRO =patient-reported outcome; SC = subcutaneous; SOC = standard of care: SOC + Placebo SC (n=81) Assessment
Slide 5: Seabreeze STAT Asthma Study Participant Disposition
5Phase 2 Seabreeze STAT Asthma Study Participant Disposition S C R E E N E D 323 S C R E E N F A I L E D 163 Reasons (participants may have >1) Did Not Meet Eligibility Criteria 77 (47.2%) No Exacerbation During Screening 86 (52.8%) Physician Decision 14 (8.6%) Participant Withdrew Consent 11 (6.7%)
Slide 6: Seabreeze STAT Asthma Demographics and Baseline Characteristics
6 Placebo (N=81) n (%) Rademikibart (N=79) n (%) Age (years): Mean (SD); Min, Max 57.1 (12.86); 13, 74 53.0 (13.01); 23, 73 Sex: Female Male 45 (55.6%) 36 (44.4%) 53 (67.1%) 26 (32.9%) Ethnicity: Not Hispanic 69 (85.2%) 71 (89.9%) Race: White Black Asian & Other 80 (98.8%) 0 2 (2.5%) 73 (92.4%) 4 (5
Slide 7: Treatment Failure Rate in Trial Lower than Projected
7 Treatment Failure (TxF) Rate in Trial Lower than Projected 66% Reduction in TxF with Rademikibart 50% Greater Than Projected Placebo (n=81) Rademikibart (n=79) P-value Treatment Failure Rate 6 (7.4%) 2 (2.5%) 66% reduction* 0.153 Death 0 0 Admission or readmission to hospital for asthma 0 0 ED vis
Slide 8: Number of New Exacerbations Also Lower in Study
8Number of New Exacerbations Also Lower in Study 206 Placebo (n=81) Rademikibart (n=79) P-value Number of new exacerbations through Week 4 visit 5 (6.2%) 2 (2.5%) N/A * Study 206 was powered based on 45% placebo arm TxF rate and approximately a 50% reduction observed for benralizumab arm in ABRA stu
Slide 9: Time to Treatment Failure
9Time to Treatment Failure 0.60 0.80 1.00 0 7 14 21 28 Pr ob ab ili ty o f n ot e xp er ie nc in g a tr ea tm en t f ai lu re Days following IP administration Placebo (n=81) Rademikibart (n=79) Censored (placebo) Censored (rademikibart) Placebo 81 81 78 75 73 Rademikibart 79 79 78 77 76 Time to Trea
Slide 10: Key Secondary Endpoint – Significant Increase in Post-Bronchodilator FEV1 on Day 7
10 Key Secondary Endpoint – Significant Increase in Post-Bronchodilator FEV1 on Day 7 (Day 28 also Significant Change from Baseline vs Placebo) Preliminary Topline Results 0 50 100 150 200 250 300 C ha ng e fro m B as el in e in P os t-B D F EV 1 (m L) Change from Baseline in Post-Bronchodilator FEV
Slide 11: Seabreeze STAT Asthma Study Adverse Event Summary
11 Placebo (N=81) n (%) Rademikibart (N=79) n (%) Any TEAE 16 (19.8%) 13 (16.5%) SAE 3 (3.7%) 1 (1.3%) TEAEs possibly related to IP 1 (1.2%) 2 (2.5%) TEAEs ≥Grade 3 2 (2.5%) 2 (2.5%) AESIs 0 1 (1.3%) TEAEs of DILI 0 0 TEAEs leading to IP discontinuation 0 0 TEAEs leading to trial withdrawal 0 0 Phas
Slide 12: Seabreeze STAT Asthma Study Adverse Event Details
12 Placebo (N=81) Rademikibart (N=79) Abdominal pain (n=1) SAE Asthma (n=1; exacerbation - Day 42) SAE Grade 3 TEAE Cholangitis (n=1) Drug hypersensitivity (n=1) SAE Grade 3 TEAE Injection site erythema (n=1; left upper arm) Grade 3 TEAE AESI Vertigo (n=1) Possibly related TEAE Injec
Slide 13: Study 206 Topline Results - Conclusions
13 • Clinically meaningful 66% reduction in Treatment Failure (TxF) observed through Day 28 • Rapid, statistically significant and clinically meaningful increase in post- bronchodilator FEV1 compared to placebo observed at Day 7 • Day 7 FEV1 improvement is Key Secondary Endpoint, which we plan to pr
Slide 14: Snapshot of the Asthma Market
14Snapshot of the Asthma Market • Based on the rapid onset of FEV1 increases, current development of rademikibart is focused on treatment of acute exacerbations of asthma and COPD • Updated market research indicates that there were approximately 1.6M ED visits in the US for acute asthma attacks in T
Slide 15: Real-World Claims Data
Real-World Claims Data How we measure disease burden at national scale Every time a patient is treated, a billing claim is created. Aggregated across payers, those claims show how care is actually delivered in the United States. WHAT IS CAPTURED Diagnosis, procedure, prescription, site of care, and
Slide 16: 2025 US National Claims Data: Emergency Visits for Asthma with Costs
2025 US National Claims Data Patients Aged 12 and Over Distribution of Emergency Visits for Asthma with Costs Acute asthma attack 2,158,005 ER visits/yr Not type 2–high · 565,397 · 26.2% not carried forward Type 2–high 1,592,608 73.8% 76% of the 90-day spend lands in the first month. H O W T H E V I
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