Vir Biotechnology (VIR) investor relations material

Value creation pathways and pipeline overview

• Multiple value creation paths include the Delta Program in registrational trials, a portfolio of three clinical T-cell engagers, and a robust PRO-XTEN platform with seven preclinical programs, some of which will be partnered for future growth.

• The Delta Program is the most advanced, with initial data expected in Q4 this year, representing near-term value.

• The PRO-XTEN platform aims to address toxicity challenges in solid tumor T-cell engagers, offering a unique therapeutic index.

• Oncology assets include promising prostate cancer data and ongoing expansion into other tumor types.

• Strategic partnerships, such as with Astellas, are leveraged to share costs and accelerate development.

Capital allocation and development strategy

• Cash position at the end of Q1 was $809 million, with an additional $350 million expected from the Astellas partnership.

• Astellas will cover 60% of VIR-5500 clinical development costs, enabling parallel trials and broader exploration.

• Current investment focus is on the Delta Program, with a gradual shift anticipated toward the oncology portfolio over time.

• Commercial build-out for HDV is gradual, with a targeted approach due to the rare, geographically concentrated patient population.

• Cash runway is guided through the second half of 2028, supporting both commercial and R&D investments.

VIR-5500 clinical progress and technology differentiation

• Recent ASCO GU update showed 82% PSA50, 53% PSA90, and 45% ORR at the go-forward dose, with strong concordance between efficacy and safety.

• Expansion cohort for late-line mCRPC has started, exploring efficacy in pre- and post-radioligand therapy patients.

• Early data indicate durable responses, with some patients on study for up to a year and RECIST responses confirmed post 27 weeks.

• Dual masking technology enables high dosing with a favorable CRS profile, as the mask is cleaved in the tumor microenvironment, reducing systemic toxicity.

• Step-up dosing regimen selected for monotherapy; further optimization ongoing for combination cohorts.