Cullinan Therapeutics (CGEM) investor relations material

Strategic Vision and Pipeline Overview

• Advancing a differentiated pipeline of T-cell engagers, CLN-978 (CD19xCD3) and velinotamig (BCMAxCD3), targeting broad autoimmune disease indications, both in phase I/II development.

• Portfolio designed to address B cell- and plasma cell-driven diseases, enabling access to more indications than single-target approaches.

• CLN-978 is positioned as an anchor drug in rheumatology, targeting SLE, RA, and Sjögren's, with plans to expand into additional high-value indications.

• Velinotamig targets plasma cell-driven diseases, with initial focus on non-malignant hematology and expansion into autoimmune and transplant-related indications.

• The portfolio aims to deliver best-in-class, disease-modifying medicines capable of inducing durable, treatment-free remissions with short outpatient regimens.

Clinical Data Highlights and Mechanistic Insights

• CLN-978 demonstrated robust efficacy and clinical remission in refractory SLE and RA, with over 70% of SLE patients achieving significant disease activity improvement and ≥4-point hSLEDAI reduction.

• Profound, dose-dependent B-cell depletion observed in blood and tissue, including disruption of lymphoid follicular architecture and rapid reduction in autoantibodies.

• Velinotamig showed rapid and deep antibody and B-cell depletion in SLE, achieving complete renal response and normalization of disease markers at low doses, with no CRS or severe infections reported.

• Both agents are designed for high affinity and rapid immune cell depletion, with biomarker and tissue data supporting dose selection and mechanistic rationale.

• Safety profiles for both agents are favorable, with most adverse events mild and manageable; CRS was mostly grade 1 for CLN-978, and no severe CRS or neurotoxicity for velinotamig.

Development Plans, Regulatory Strategy, and Market Positioning

• Multi-dose data for CLN-978 in RA and SLE expected in Q3 and Q4 2026, with initial Sjögren's data by year-end; phase IIa studies in SLE, lupus nephritis, and RA to begin in early 2027.

• Velinotamig will enter a basket phase I/II study in autoimmune cytopenias by Q1 2027, including ITP and AIHA, leveraging rapid proof-of-concept in hematology.

• Regulatory strategy includes potential for accelerated approval in lupus nephritis and SLE based on monotherapy efficacy, with plans for broader phase III studies.

• Adoption expected to start in refractory populations but expand rapidly as safety and efficacy data accumulate, with payer engagement focused on monotherapy benefits and quality of life improvements.

• Manufacturing for T-cell engagers is streamlined and antibody-like, supporting scalability for large autoimmune markets.