Slide 1: AXN-2510 3rd-Most Advanced PD-L1xVEGF Bispecific Antibody in Clinical Development
March 4, 2025 Nasdaq: TIL │ www.instilbio.com AXN-2510 3rd -Most Advanced PD-L1xVEGF Bispecific Antibody in Clinical Development *Axion Bio, Inc. (fka SynBioTx, Inc.) is a wholly owned subsidiary of Instil Bio, Inc.
Slide 2: Forward Looking Statements
Forward Looking Statements 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “anticipates,” “believes,” “expects,” "expected,” “future,” “intends,” “may,” “plans,” “potential,” “projects,” and “will” or s
Slide 3: AXN-2510/IMM2510: Clinical-stage PD-L1xVEGF Bispecific Antibody
AXN-2510/IMM2510*: Clinical-stage PD-L1xVEGF Bispecific Antibody 3 • Composition of matter coverage into 2040 in US • PD-L1 inhibitor • VEGF blockade • PD-(L)1xVEGF bispecific Differentiated design • PD-L1 targeting • VEGF “trap” • ADCC-enhanced Collaboration with ImmuneOnco** Validated oncology mec
Slide 4: AXN-2510/IMM2510 development strategy in NSCLC
AXN-2510/IMM2510 development strategy in NSCLC 4 2025 20262H 2024 Ph1b Monotherapy (2L+) NSCLC Ph1b/2 Chemotherapy Combo* Ph1b/2 1L Chemotherapy Combo. *Subject to regulatory discussions China (ImmuneOnco) US (Axion Bio (Instil Bio)) • 3rd-most advanced PD-(L)1xVEGF bispecific antibody in clinical d
Slide 5: Anticipated Catalysts for PD-(L)1xVEGF Antibodies
Anticipated Catalysts for PD-(L)1xVEGF Antibodies 5 1Summit Therapeutics, Inc. presentation 2Citi (C Chen) & Jefferies (K Shi) equity research reports AXN-2510 / IMM2510 Other PD-(L)1xVEGF bispecific Abs 1H 2025 2H 2025 • Enrollment of 1L NSCLC patients in Phase 1b/2 trial of IMM2510/AXN- 2510 + che
Slide 6: AXN-2510: Differentiated VEGF receptor and ADCC-enhanced design
AXN-2510: Differentiated PD-L1xVEGF Bispecific Antibody 6 VEGF receptor binds multiple VEGFR ligands beyond VEGF-A for broader VEGF blockade ADCC-enhanced antibody designed to induce direct killing of immune- suppressive PD-L1+ tumor cells PD-L1 binding designed for targeting of TME AXN-2510
Slide 7: AXN-2510/IMM2510 in multiple solid tumors clinical trials
AXN-2510/IMM2510 in multiple solid tumors clinical trials* 7 Phase 1b/2 RightsIndication *All trials shown above are being conducted by ImmuneOnco in China TNBC: triple-negative breast cancer; HCC: hepatocellular carcinoma; RCC: renal cell carcinoma AXN-2510/IMM2510 – PD-L1xVEGF bispecific antibody
Slide 8: Recent PD-(L)1xVEGF Bispecific Antibody Developments
Recent PD-(L)1xVEGF Bispecific Antibody Developments 2024 2025 August September October November December January February • Instil Bio announces licensing of IMM2510/AXN- 2510 anti-PD- L1/VEGF bispecific antibody.1 • Instil Bio announces global registrational strategy of AXN- 2510 in NSCLC.2 • Worl
Slide 9: Clinical-stage PD-(L)1xVEGF Bispecific Antibodies
9 Clinical-stage PD-(L)1xVEGF Bispecific Antibodies Anti-PD-L1 VHH Silenced Fc (LALA) Anti-VEGF-A Anti-VEGF-A Anti-PD-1 Anti-PD-L1 VEGF “Trap” ADCC- enhanced AXN-2510 (ImmuneOnco / Axion Bio) BNT327 (Biotheus / BioNTech) Ivonescimab (Akeso / Summit) VEGF receptor ligand binding VEGF-A, VEGF-B, PlGF