Saniona Ab · OMXSTO:SANION
Saniona Ab — Investor Presentation (January 2026)
29 slides from Saniona Ab's investor presentation, January 2026
Slide 1: A clinical-stage pharmaceutical company focused on neurological and psychiatric disease
A clinical-stage pharmaceutical company focused on neurological and psychiatric disease COMPANY PRESENTATION JANUARY 2026
Slide 2: Disclaimer
Disclaimer This company presentation (the ”Company Presentation”), which is personal to the recipient, is issued by Saniona AB (the “Company”). The Company Presentation has been prepared for information purposes only and is not to be relied upon in substitution for the exercise of independent judgem
Slide 3: About Saniona
About Saniona • Saniona AB share December 30, 2025 – Market Cap: 2.9 BSEK (MUSD 318) – AVG Vol 2025: 10.7 MSEK (MUSD 1.2) – Share Price: SEK 21.20 (USD 2.30) is a clinical-stage pharmaceutical company • Strong Financials Position as of Q3 2025 focused on neurological and – 673 MSEK (70 MUSD) in cash
Slide 4: Robust Internal Pipeline and High-Value Partnerships Drive Near-Term and Long-Term Growth
Robust Internal Pipeline and High-Value Partnerships Drive Near-Term and Long-Term Growth Partnership Strong financial Potential near- Broad pipeline CNS Ion channel business model position term revenues drug discovery Advancing three internal programs to platform Robust pipeline +$70 million and $1
Slide 5: Robust Pipeline of Differentiated CNS Assets Entering Clinical Development
Robust Pipeline of Differentiated CNS Assets Entering Clinical Development Product Partner Indication Preclinical Phase 1 Phase 2 Phase 3 Status and upcoming milestones Candidate Acadia to sponsor and initiate Phase 2 ACP-711 Acadia Essential tremor clinical trial Jazz Pharmaceuticals to sponsor and
Slide 6: Assets in Strategic Partnerships: ACP-711, SAN2335
Assets in Strategic Partnerships: ACP-711 SAN2335
Slide 7: ACP-711 – a Highly Selective Neurotransmitter Modulator, Partnered with Acadia
ACP-711 – a Highly Selective Neurotransmitter Modulator, Partnered with Acadia • ACP-711 modulates the GABAA α3 receptor without impact on other GABAA subtypes affected by benzodiazepines • Phase 1 study demonstrating safety and tolerability completed – single-ascending and multiple-ascending dose c
Slide 8: SAN2335 – Selective Novel Potassium Channel Activator, Partnered with Jazz
SAN2335 – Selective Novel Potassium Channel Activator, Partnered with Jazz • Unique mechanism of action – activates the Kv7.2/7.3 potassium channel only, avoiding dose limiting side effects common with less selective, similar drugs • Preclinical studies confirms one-of-a-kind drug profile, demonstra
Slide 9: Saniona's Differentiated Assets Formed Strategic Partnerships Set to Generate Significant Value
Saniona’s Differentiated Assets Formed Strategic Partnerships Set to Generate Significant Value Potential commercial milestones: Tiered ACP-711: $435m royalties Potential development and SAN2355: $800m regulatory milestones: ACP-711: $147m SAN2355: $192.5m >$1.6B Upfront payments received: ACP-711:
Slide 10: Differentiated Internal Assets: SAN2219, SAN2668, SAN2465
Differentiated Internal Assets: SAN2219 SAN2668 SAN2465
Slide 11: SAN2219 is an Innovative Add-On Therapy for Focal Epilepsy
SAN2219 is an Innovative Add-On Therapy for Focal Epilepsy • Focal epilepsy remains an unmet medical need, accounting SAN2219 was for ~60% of adult epilepsy; ~30% designed for of patients remain uncontrolled improved efficacy despite 2–4 anti-seizure and reduced side medicines effect profile. • Refr
Slide 12: SAN2219: Preclinical Data Demonstrates Strong Seizure Protection in Animal Models
SAN2219: Preclinical Data Demonstrates Strong Seizure Protection in Animal Models Strong efficacy in maximal electroshock threshold (MEST), PTZ, as well as the 6Hz seizure model, key animal model for focal onset seizures **/****: p <0.01/0.0001 vs. vehicle, Kruskal Wallis test */**: p <0.05/0.01 vs.
Slide 13: SAN2219 Displays Additive Efficacy when Combined with Standard Anti-Seizure Medications
SAN2219 Displays Additive Efficacy when Combined with Standard Anti-Seizure Medications – Demonstrating Potential as Add-On Therapy Additive when combined with Keppra or valproate Valproic acid + Keppra + SAN2219 SAN2219 **** # # *** # # 100 P r o te c tio n a g a in s t 80 6 H z s e iz u r e s Valp
Slide 14: SAN2219 Maintains Motor Function and Avoids Sedation in Animal Models
SAN2219 Maintains Motor Function and Avoids Sedation in Animal Models SAN2219 maintains the ability to balance an accelerating rotarod and avoids sedation in locomotor test Rotarod performance test Locomotor test SAN2219 (mg/kg, po) 150 Total distance travelled (m) 0.1 0.3 1 Vehicle 0 0 SAN221 100 P
Slide 15: SAN2219 Demonstrates Increased Activity Compared to Competitor Compounds
SAN2219 Demonstrates Increased Activity Compared to Competitor Compounds; Minimal Activity on GABA Neurotransmitter Subtype Associated with Sedation SAN2219 demonstrates increased efficacy on relevant GABAA receptors relative to other clinical GABA PAMs with minimal effect on a1 subtype Asset GABA α
Slide 16: SAN2219 Development Plan Targets $1B Focal Epilepsy Market
SAN2219 Development Plan Targets $1B Focal Epilepsy Market Phase 1 Phase 2 Phase 3 Q3 2026 – Q2 2027 2028 – 2029 2030 - 2031 Phase 1 clinical trial planned to initiate 8-week RCT in Focal Seizure n=120 12-week RCT in Focal Seizure n=300 Q3 2026 and include validated target Phase 2 clinical trial pla
Slide 17: SAN2668 Novel Therapy Developed for Pediatric Epilepsies
SAN2668 Novel Therapy Developed for Pediatric Epilepsies • Lead indication - Electrical Status Epilepticus in Sleep (ESES), a severe pediatric form of epilepsy SAN2668 is a unique with no approved therapies, marked by non- GABAA α2/α3 modulator convulsive seizures during sleep causing with strong an
Slide 18: SAN2668 Exhibits Superior Anti-Seizure Efficacy Compared with Established SoC
SAN2668 Exhibits Superior Anti-Seizure Efficacy Compared with Established SoC SAN2668 demonstrates comparable anti-seizure The anti-seizure efficacy of SAN2668 is superior to Darigabat at efficacy to clobazam at equivalent RO and can equivalent receptor occupancies achieve higher doses for potential
Slide 19: SAN2668 Avoids Sedative Side-Effect Common for Benzodiazepines and Maintains Efficacy
SAN2668 Avoids Sedative Side-Effect Common for Benzodiazepines and Maintains Efficacy SAN2668 does not cause sedation in rodents at SAN2668 shows half the level of tolerance to anti- pharmacologically relevant dose levels which contrasts seizure activity as compared to Diazepam - like with benzodiaz
Slide 20: SAN2668's Clinical Development Plan in ESES can be Expanded to other Pediatric Indications
SAN2668’s Clinical Development Plan in ESES can be Expanded to other Pediatric Indications Phase 1 Phase 1B in Ped ESES Phase 2/3 single pivotal Q4 2026 – Q3 2027 N=6 OL (1 week) followed by N=60 24-week RCT in ESES N=24 RCT vs PBO (4 weeks) 2029 – 2031 2028 – 2029 Open label extension 2028 – 2031 •
Slide 21: SAN2465 Designed as a Rapid-Acting Oral Therapy for Treatment-Resistant Depression
SAN2465 Designed as a Rapid-Acting Oral Therapy for Treatment-Resistant Depression • Lead indication – treatment resistant depression (TRD) • 25–30 million diagnosed patients in USA/EU with major depressive disorder – the total prevalence is SAN2465 is a unique much higher GABAA α5 modulator - disti
Slide 22: SAN2465 Modulates the Same Neuronal Pathway as Esketamine, but is more Selective
SAN2465 Modulates the Same Neuronal Pathway as Esketamine, but is more Selective, Offering a Superior Side-Effect Profile • SAN2465 modulates only the GABAA α5 receptors which are mainly restricted to areas in the brain involved in emotional control • Ketamine preferentially blocks NMDA receptors on
Slide 23: SAN2465 Demonstrates Fast Onset Antidepressant Effect in Animal Anhedonia Model
SAN2465 Demonstrates Fast Onset Antidepressant Effect in Animal Anhedonia Model SAN2465 normalizes sucrose consumption, relieves • Anhedonia, the core symptom in depression, a lack of ability anhedonia in rat model, similar efficacy to ketamine to feel pleasure or to engage in pleasurable activities
Slide 24: SAN2465 Reverses Anxiety – a Major Symptom of Depression
SAN2465 Reverses Anxiety – a Major Symptom of Depression • Anxiety, a comorbid symptom of depression, can present as persistent, excessive, difficult to control worry Controlled • Generalized anxiety-like behaviour can be assessed in rodents in the Stressed 10 elevated plus maze by measuring stress-
Slide 25: SAN2465 Reverses Stress-Induced Cognitive Impairment
SAN2465 Reverses Stress-Induced Cognitive Impairment – A Negative Prognostic Factor for Antidepressant Resistance • Cognitive impairment characterized by difficulty concentrating, poor attention, impaired learning, memory and executive functions. Prevalent In about 20-30% of MDD patients - an 0.6 Co
Slide 26: SAN2465 Clinical Development Plan to Initiate in Early 2027
SAN2465 Clinical Development Plan to Initiate in Early 2027 Phase 1 Phase 2a Phase 2B Q1 2027 – Q4 2027 N = 90 6-week RCT vs PBO in MDD* N=300 12-week RCT vs PBO in 2028 – 2030 MDD* Initiate 2031 • Phase 1 planned Q1 2027 with validated target engagement and EEG biomarkers to support PoC in TRD pati
Slide 27: Robust Internal Pipeline and High-Value Partnerships Drive Near-Term and Long-Term Growth
Robust Internal Pipeline and High-Value Partnerships Drive Near-Term and Long-Term Growth Partnership Strong financial Potential near- Broad pipeline CNS Ion channel business model position term revenues drug discovery Advancing three internal programs to platform Robust pipeline +$70 million and $1
Slide 28: Phase 2/3 CNS Assets Acquired in Multi-Billion USD Deals
Phase 2/3 CNS Assets Acquired in Multi-Billion USD Deals acquired Cerevel Therapeutics in August 2024 for $8.7 billion • Two Phase 3 assets – tavapadon for Parkinson’s disease and emraclidine for schizophrenia • Two Phase 2 assets – darigabat for anxiety and epilepsy, and CVL-871 for dementia- relat
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