AbCellera Biologics (ABCL) investor relations material

Strategic evolution and platform capabilities

• Transitioned from a platform-focused to a clinical-stage biotech, building end-to-end capabilities from target assessment to clinical manufacturing in Vancouver.

• Over 100 partnered programs with more than 40 partners refined expertise, especially for difficult antibody targets.

• Stopped actively seeking new partnerships, prioritizing internal drug development while maintaining select ongoing collaborations.

• Internal pipeline now the main focus, leveraging advanced discovery and manufacturing infrastructure.

Internal pipeline highlights

• ABCL635 targets moderate to severe hot flashes in menopausal women, leveraging de-risked NK3R biology and aiming for non-hormonal therapy differentiation.

• Phase I trial for ABCL635 includes both menopausal women and healthy males to assess safety, PK/PD, and target engagement, with a proof-of-concept arm for efficacy signals.

• ABCL575, targeting OX40 ligand for atopic dermatitis and other immune conditions, is positioned as a potential best-in-class or combination therapy, with differentiation in half-life.

• ABCL575 likely to be partnered for further development due to capital intensity and broad applicability.

Early pipeline and future directions

• ABCL688, a GPCR/ion channel-targeted autoimmune asset, expected to enter the clinic in mid-2026, with further details to be disclosed at IND/CTA submission.

• Over 20 internal programs, about half in complex membrane protein targets, others in modalities like T-cell engagers and novel mechanisms.

• Pipeline selection based on scientific clarity, unmet need, differentiation, and clear development path.