Absci (ABSI) investor relations material

Platform and business strategy

• Focuses on AI-driven generative design for novel antibody therapeutics, targeting hard-to-drug biologics rather than small molecules.

• Differentiates by integrating wet lab validation with rapid, scalable data generation and screening for protein-protein interactions.

• Strategic shift from early-stage partnerships to advancing internal pipeline assets further before partnering, aiming for higher deal values.

• Maintains a partnership model but now seeks to partner at later development stages or commercialize select assets independently.

• Expects to announce a new large pharma partnership within the year, separate from internal program deals.

Pipeline highlights and clinical development

• ABS201 targets the prolactin receptor for androgenetic alopecia, aiming for a convenient, durable injectable treatment with broad patient applicability.

• Preclinical data in non-human primates show durable hair regrowth after limited dosing, supporting the product's design for infrequent administration.

• Phase 1/2A trial for ABS201 expected to start in early 2026 or sooner, with interim proof-of-concept data anticipated in the second half of next year.

• ABS101, targeting TL1A for IBD, is in phase 1 with interim data expected in the second half of this year; designed for higher affinity, potency, and convenient subcutaneous dosing.

• Plans to partner ABS101 after phase 1 interim results, with ongoing discussions and sufficient capital to advance further if needed.

Competitive positioning and market opportunity

• ABS201 offers potential advantages over competitors, including superior stability, solubility, extended half-life, and fewer required doses.

• Market for androgenetic alopecia is large, with 80 million affected in the U.S.; product positioned for cash-pay model due to limited insurance coverage.

• Existing treatments for hair loss have limited efficacy, poor adherence, or side effects, highlighting unmet need for a safe, convenient, and effective option.

• ABS101 aims to differentiate from first-generation anti-TL1A antibodies with improved pharmacokinetics and dosing convenience.

• Both internal and partnered programs are expected to drive near-term value inflection points.