Tectonic Therapeutic (TECX) Investor presentation summary

Strategic focus and market opportunity

• Developing GPCR-targeted biologics for large, underserved markets in cardiovascular and rare diseases.

• Lead asset TX45 is a long-acting relaxin targeting Group 2 PH-HFPEF, with expansion potential to PH-HFrEF and PH-ILD.

• TX2100 is a first-in-class APJ antagonist for Hereditary Hemorrhagic Telangiectasia (HHT), a rare bleeding disorder.

• Estimated addressable populations: ~1.4M PH-HFPEF, ~1.1M PH-HFrEF, 60K+ PH-ILD, and ~75K HHT patients in the U.S.

• Cash runway into Q1 2029 with $227.1M as of June 2026.

Clinical pipeline and development progress

• TX45 demonstrated positive Phase 1b results in PH-HFPEF and PH-HFrEF, showing improvements in hemodynamics and cardiac function.

• Phase 2 APEX trial for TX45 in PH-HFPEF is ongoing, with topline results expected early Q1 2027.

• TX45 Phase 2 trial in PH-ILD is open for screening, targeting a high-mortality, orphan population.

• TX2100 Phase 1a trial in healthy volunteers started in Feb 2026; topline results expected by end of Q3 2026.

• Planned Phase 1b and Phase 2 trials for TX2100 in HHT patients to assess safety and efficacy.

Scientific rationale and differentiation

• Biologics offer advantages over small molecules for GPCR targeting, including improved selectivity and safety.

• TX45’s mechanism addresses vasodilation, anti-fibrosis, and anti-inflammation, with monthly dosing enabled by extended half-life.

• TX2100 targets the APJ pathway, aiming for anti-angiogenic efficacy with improved tolerability over VEGF inhibitors.

• Preclinical models show TX2100 reduces bleeding, anemia, and vascular malformations in HHT.

• Proprietary platform enables efficient discovery and optimization of GPCR-targeted biologics.