Kalaris Therapeutics (KLRS) Corporate presentation summary

Company overview and strategy

• Focused on developing and commercializing treatments for prevalent retinal diseases, with lead asset TH103 targeting major unmet needs in neovascular and exudative retinal diseases.

• TH103 was invented by Dr. Napoleone Ferrara, a pioneer in anti-VEGF therapies, and is engineered for extended intraocular retention and enhanced VEGF inhibition.

• Ongoing clinical development includes Phase 1a and Phase 1b/2 trials in nAMD, with plans for expansion into DME, DR, and RVO.

• $50 million oversubscribed private placement in December 2025 extended cash runway into Q4 2027.

• Intellectual property portfolio provides US exclusivity through early 2040s, with global coverage expected through 2039.

Market opportunity and unmet need

• Anti-VEGF therapy is a $15B global market in 2024, projected to reach $18B by 2029, but real-world outcomes remain suboptimal due to treatment burden and undertreatment.

• Frequent clinic visits and injections are required for best outcomes, leading to poor compliance and reduced efficacy.

• Persistent unmet need for long-acting agents that reduce visit burden and improve vision preservation.

TH103 mechanism and innovation

• TH103 is a fully humanized, recombinant fusion protein designed for intravitreal delivery, acting as a soluble decoy receptor with high affinity for VEGF and HSPG.

• Utilizes VEGFR1 domains for enhanced VEGF binding and extended ocular retention, leveraging HSPG binding to prolong retinal presence.

• Preclinical studies show increased VEGF inhibition, prolonged retinal retention, and reduced systemic exposure compared to aflibercept.