Seaport Therapeutics (SPTX) Corporate presentation summary

Strategy and market

• More than 1B people live with mental illness; estimates include 332M people with MDD and 359M with anxiety disorders worldwide, with ~60% of MDD patients also experiencing anxious distress.

• Common antidepressants may be ineffective for ~1 in 3 patients, take weeks to work, and can cause sexual dysfunction, weight gain, and insomnia.

• Neuropsychiatry development faces unknown pathophysiology, drug-like property challenges, and difficult efficacy trials; cited clinical trial failure rate exceeds 90%.

• Strategy combines clinically validated mechanisms, the Glyph platform, and trial-development expertise to address drug limitations and generate new IP.

Glyph platform

• Uses natural lipid absorption and lymphatic transport to bypass the liver, aiming to increase oral bioavailability and reduce first-pass hepatotoxicity, PK variability, and dose.

• Prodrug design pairs a glyceride for chylomicron and lymphatic transport with a self-immolative linker for controlled release; each candidate is intended to have distinct composition-of-matter IP.

• Platform has been applied to create more than 24 small molecules with novel composition-of-matter IP.

GlyphAllo for MDD

• Oral allopregnanolone has been limited by poor bioavailability; GlyphAllo aims to enable rapid, durable efficacy without the 60-hour infusion required for available allopregnanolone treatment.

• Phase 1 data showed >9x bioavailability versus oral allopregnanolone in non-human primate studies; treatment was generally well tolerated, with no treatment-related severe or serious adverse events reported.

• In a Phase 2a healthy-volunteer study, GlyphAllo reduced the stress response versus placebo (p=0.0001); treatment-related adverse events were transient and mild or moderate.

• Phase 1 driving simulation met its primary endpoint: bedtime 375 mg did not impair next-morning driving on Day 5; 250 mg also met the key secondary endpoint on Day 2.

• Phase 2b BUOY-1 plans ~360 participants with MDD, with or without anxious distress; the primary endpoint is HAMD-17 at Day 42, with topline data expected in 1H 2027.