Quince Therapeutics (QNCX) investor relations material

Transaction Overview and Financing

• Acquisition of Orphai completed via stock-for-stock merger, closing May 18, 2026, with all equity interests and warrants exchanged for securities.

• Secured up to $187M in private placement financing, with $115M upfront and up to $83M via warrants, led by Balyasny and major healthcare investors.

• Post-transaction, private placement investors own 61.2%, Orphai holders 31.9%, and prior holders 6.9% of common stock on a fully diluted basis.

• Proceeds primarily fund LAM-001 clinical development across PH-ILD, BOS, and SAPH, supporting operations through Q4 2028.

• Brigette Roberts joins the board and management team for combined leadership.

Clinical Development and Pipeline Milestones

• LAM-001, an inhaled rapamycin, targets PH-ILD, BOS, and SAPH, with Phase II-A data in PH-ILD showing clinically meaningful improvements in walk distance, VO2 max, and PVR.

• Phase II-B PH-ILD trial to start mid-2026, with top-line data expected Q1 2028.

• BOS Phase II trial completed enrollment, with data expected Q1 2027.

• SAPH Phase II trial to initiate late 2026, with data expected Q4 2028.

• Funding supports multiple clinical readouts and milestones through end of 2028.

Product Differentiation, Safety, and IP

• LAM-001 delivers high lung exposure with minimal systemic toxicity, overcoming oral rapamycin limitations.

• Demonstrated >90% mTOR inhibition in lungs with 20x lower dose and 5-15x lower systemic exposure than oral.

• Phase II-A trial showed favorable tolerability, with no serious adverse events or dose interruptions.

• Orphan Drug designation in US/EU for multiple indications, with exclusivity on device and formulation.

• Broad IP portfolio with 9 issued US patents and pending applications, supporting exclusivity into 2047.