Curasight (CURAS) Investor Update summary

Capital raise and use of proceeds

• Ongoing rights issue aims to raise up to DKK 100 million, with about half already guaranteed by investors and management commitments totaling DKK 5.2 million.

• Rights issue allows existing shareholders to subscribe for new shares at DKK 1.98 each, with a subscription period from May 2 to May 16.

• Funds will extend cash runway to the second half of 2026 and support strategic flexibility for partnerships.

• Proceeds will finance two key studies: a phase 1 trial for U-Treat in brain cancer and completion of a phase 2 U-Trace study in prostate cancer.

• Additional working capital will support ongoing operations and other company activities.

Clinical development and milestones

• U-Treat phase 1 brain cancer study expected to dose first patient in September, with preliminary data by end of 2025 and final data in H1 2026.

• U-Trace phase 2 prostate cancer study is progressing, with 19 of 27 patients enrolled in part 1 and expansion to nine centers planned for part 2.

• Both studies are designed to generate data that could drive new partnerships and commercial opportunities.

• U-Treat targets a €5 billion annual market, with high unmet need in brain cancer and strong preclinical efficacy data.

• U-Trace aims to replace invasive biopsies with PET imaging, addressing a large prostate cancer market with over 500,000 new cases annually.

Strategic partnerships and market positioning

• Strategic investors include Curion, contributing DKK 17.8 million, and US-based Penfolder, with up to DKK 10 million.

• Big Pharma interest is strongest in therapeutic applications, with the radioligand therapy market growing 35% annually.

• Company aims to secure further partnerships for both U-Treat and U-Trace, with a focus on therapy as a game changer.

• Milestone payments from Curion partnership are back-end loaded and tied to key data and commercial events.

• Proof-of-concept data in brain cancer is expected to increase attractiveness for potential partners.