Hbm Holdings Ltd. · HKEX:2142
Hbm — Harbour BioMed — H1 2026 Earnings Presentation
31 slides from Hbm's earnings presentation, August 2026
Slide 1: Harbour BioMed 2026 Interim Results
Harbour BioMed 2026 Interim Results August, 2026 HBM HOLDINGS-B 2142.HK
Slide 2: Agenda
Agenda Harbour BioMed 2026H1 01 Three Growth Engines Working in Synergy, Delivering a Seventh Jingsong Wang Consecutive Half-Year of Profitability MD PhD Harbour Therapeutics 02 Substantial Market for Mid-to-Late-Stage Assets, Advancing Jingsong Wang Toward Global Registrational Trials MD PhD Nona B
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by HBM Holdings Limited (the “Company”) solely for informational purposes and does not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company in any jurisdiction or an inducement to enter into in
Slide 4: 26H1: Three Growth Engines Delivering Seventh Consecutive Half-Year of Profitability
Harbour BioMed 26H1: Three Growth Engines Working in Synergy, Delivering a Seventh Consecutive Half-Year of Profitability One of The Few Biopharma Companies to Deliver a “Four-in-One” Combination of AI-Enabled Antibody Discovery Platform + Accelerating Clinical Advancement + Strategic MNC Partnershi
Slide 5: Harbour BioMed AI: Building the Next-Gen AI Innovation System
Harbour BioMed AI: Building the Next-Gen AI Innovation System – From Antibody AI Model to Antibody Development to A Collaboration Ecosystem End-to-End AI-Empowered Pipeline HCAbLM Antibody Foundation Development from Discovery to Clinic Model Word’s Only fully human HCAb large language model 40+ Pro
Slide 6: Three Innovation Engines Driving Early Discovery to Clinical Development
Three Innovation Engines Driving Early Discovery to Clinical Development, Maximizing Value from Innovative Technology to Pipeline Products Proprietary Technology Platforms Innovation Engines Clinical Translation Mid-to-Late-Stage 4 technology platform engines Building proprietary clinical developmen
Slide 7: 3+ Mid-to-Late-Stage Pipelines Aggregating >$6B Peak Sales Potential
3+ Mid-to-Late-Stage Pipelines Aggregating >$6B Peak Sales Potential with >5 BIC/FIC Innovative Programs to be Validated through Early PoC Phase >$3.5B >$2.5B >RMB 3B II/III （Global Peak Sales1） （Global Peak Sales1） （China Peak Sales1） Core Asthma and COPD Colorectal Cancer and Myasthenia Gravis HBM
Slide 8: Harbour's TSLP Partner Windward Bio
Harbour’s TSLP Partner Windward Bio Seasoned Global Leadership Backed by Top-Tier Healthcare Investors Pipeline Phase III Program/Modality IND Phase I Phase II Territory Positioning/Status and beyond WIN378/HBM9378* Ph2 data • Ph2 interim data (2026Q3); Ph3 initiation (2026Q4) Moderate-to-Severe Ast
Slide 9: HBM7575 (Ultra-Long-Acting TSLP BsAb): Phase I Initiated
HBM7575 (Ultra-Long-Acting TSLP BsAb): Phase I Initiated with Accelerating Patient Enrollment HBM7575: Ultra-long-acting bispecific antibody with dual HBM9378:“同类最佳”潜力 2026.03 2026.07 mechanisms for synergistic efficacy Undisclosed 全人源超长效TSLP单抗 China IND China IND Clearance TSLP Target ❑ Dual mechan
Slide 10: Porustobart (HBM4003): BIC-Potential Anti-CTLA-4, Out-Licensed
Porustobart (HBM4003): A BIC-Potential Novel Anti-CTLA-4, Successfully Out-Licensed, with Global Clinical Trials Expected to Initiate in Near Term MOA1: Checkpoint Inhibition MOA2: Treg Depletion Solstice HBM9378:“同类最佳”潜力 HBM4003: Novel CTLA-4 Molecule with BIC Potential Oncology 全人源超长效TSLP单抗 ❑ The
Slide 11: HBM7020 (BCMAxCD3): Global Clinical Development Set to Begin
HBM7020 (BCMAxCD3): Global Clinical Development Set to Begin, Targeting a Major Autoimmune Market Opportunity HBM7020: Superior B-cell depletion with lower CRS HBM9378:“同类最佳”潜力 risk 全人源超长效TSLP单抗 2025.06 ❑ Fully human heavy-chain antibody modules effectively overcome the challenge of light Out-licens
Slide 12: LET003 (ACVR2A/2B): First AI-Enabled Molecule
LET003 (ACVR2A/2B): First AI-Enabled Molecule with Superior Preclinical Data on Fat Reduction and Lean Mass Preservation LET003: Superior Preclinical Data on Fat Reduction and HBM9378:“同类最佳”潜力 Lean Mass Preservation 全人源超长效TSLP单抗 2026.05 ACVR2A/2B ACVR2A/2B ❑ LET003 exhibited superior pharmacokinetic
Slide 13: BBB Shuttle Platform Drives Next-Gen CNS Innovation
BBB Shuttle Platform Drives Next-Gen CNS Innovation, Leading the $100B+ Global CNS Market CNS market opportunity exceeding $100B Core Pipelines Program Target Progress Positioning Expected Timeline NEU2005 Undisclosed IND-enabling BIC molecule in brain shuttle 2027H1 IND expected $155B 10.4% Target(
Slide 14: Multi-Pathway FIC Biologics for Metabolic Diseases
Multi-Pathway FIC Biologics for Metabolic Diseases, Unlocking a $100B+ Opportunity across ~2B Patients Obesity & Metabolic market opportunity exceeding $70B Core Pipelines Program Target Progress Positioning $77.2B 7.8% IND-enabling, 2026H2 BIC. Enhance and sustain overall body weight loss LET003 AC
Slide 15: 4 Proprietary Technology Platforms
4 Proprietary Technology Platforms Nona Biosciences - Platform - TCE, CAR-T, mRNA, ADC The world's largest and most efficient fully Harbour BioMed’s AI-native TechBio human heavy-chain antibody AI platform “GPU” Chip Technology Platform for Antibody Drug Development 150+ 400+ Partner Suzhou Shanghai
Slide 16: Advancing Technology Platforms with Next-Gen Antibody Engineering
Advancing Technology Platforms with Next-Gen Antibody Engineering Technology Cluster to Solidify Long-Term Competitive Advantage Building a Diverse and BBB shuttle Advanced Technology in vivo CAR-T siRNA Portfolio Four Existing Technology Platforms Organoid AOC in +C te ro el +P l TCR Partnership En
Slide 17: AI-Native Innovation Ecosystem Infrastructure
AI-Native Innovation Ecosystem Infrastructure Empowering the Development of Next-Gen Complex Molecule Data Accumulation AI Empowerment Nona Genx Generative Antibody Design Platform HCAbLM: The World's Exclusive Fully Human HCAb Foundation Model for AI-driven de novo design for precise antigen target
Slide 18: Nona Biosciences and Lonza Strategic Collaboration on BBB-Crossing Technology
Nona Biosciences and Lonza Enter a Strategic Collaboration to Develop Best-in-Class BBB-Crossing Technology for CNS Diseases Collaboration Terms Co-developing BIC BBB-crossing technology for the Upfront + Option Payments treatment of CNS diseases Nona is entitled to receive upfront and option paymen
Slide 19: A Diversified Partnership Business Model Driving Rapid Growth
Diversified 133 >> 150+ 20 >> 25+ 1 1 Partnership Business Cumulative Partners Clinically-Validated Model Molecules A Diversified Partnership Business Model Driving Pharama Rapid Growth through an Extensive Partner Network 业务模式 Business Model …… Biotech Strategic Co-Development Collaboration …… Acad
Slide 20: Total BD Value Exceeding $13B, Leading the New Paradigm of Global Collaboration
Total BD Value Exceeding $13B, Leading the New Paradigm of Global Collaboration Long-term strategic alliances w MNCs and leading biotech validate our sustainable and scalable Strong back-end downstream economics retained by HBM: business model, forging a high-visibility and high-growth revenue base
Slide 21: AstraZeneca Strategic Alliance: Next-Gen Co-Co Model
AstraZeneca Strategic Alliance: A Paradigm for Next-Gen Co-Co Model across All Therapeutic Areas, Steadily Advancing Co-Co Programs Launched in March 2026 at Beijing International $175M BioPark Upfront + Near-term milestone + Option exercise fee Potential 10 years collaboration $4.4B Potential futur
Slide 22: BMS Strategic Alliance: Developing Next-gen Multi-Specific Antibodies
BMS Strategic Alliance: Developing Next-gen Multi-Specific Antibodies Global Collaboration Focusing on Immunological Diseases: From Discovery to Clinical Development Collaborate to Advance and Accelerate Payments could total $90M Possibility to accelerate programs by conducting Multi-Specific Early
Slide 23: Harbour BioMed and BioMap Initiate MegaStream TechBio
Harbour BioMed and BioMap Jointly Initiate MegaStream TechBio: The World's Only "AI × Biotech" Dual-Native Biopharmaceutical Company A Global Leading Company in Programmable Complex Molecule Innovative Therapeutics Exclusive Dataset×Purpose-Built Large Models×Large-Scale Innovative Pipeline Portfoli
Slide 24: Diversified Revenue Mix for High-Visibility, Sustainable Growth
Diversified Revenue Mix for High-Visibility, Sustainable Growth with Reduced Risk Scaling revenue while lowering single-product development risk Future Revenue Drivers • 2 products (>3 indications) in global Illustrative1 multicenter trials by end-2027 —UAL anti-TSLP (Autoimmune) & Novel anti-CTLA-4
Slide 25: 2026H1 Steady Revenue Growth while Scaling R&D Investment
In 2026H1, We Delivered Steady Revenue Growth while Scaling R&D Investment to Reinforce Long-Term Value Financial Highlights 2026 H1 revenue of $122M (~RMB 834M), +21% YoY. Molecule licensing & strategic collaboration fees +21% YoY, driven by deepened strategic collaborations with MNCs and increme
Slide 26: Abundant Liquidity and Efficient Capital Allocation Plan
Abundant Liquidity and an Efficient Capital Allocation Plan to Drive Efficient, High-Quality Growth 2026 Capital Allocation Plan > RMB 2.4B （$360M） Active Share Buybacks to Boost Shareholder Returns Cash Reserves as of 2026H1 ✓ Repurchase program of HK$540M since 2025, with >HK$270M executed to date
Slide 27: Catalysts and Priorities in the Next 12 Months
6 Pipeline Progress & 3 INDs Completed & BD & Partnership Data Readout More INDs to Come Catalysts HBM9378/WIN378 ULA TSLP mAb Phase II/III HBM7575 ULA TSLP BsAb ✓ AD IND clearance (Mar.2026) and Asthma: Global Ph2 (POLARIS) interim data (2026Q3); Global Ph3 initiation ✓ Asthma IND clearance (Jul. 2
Slide 28: Harbour BioMed 2028: Global Leading Platform-Based BioPharma Group
5+ commercial and near-commercial products with 1 Harbour BioMed2028 a global peak sales potential exceeding RMB 20B A Global Leading Platform-Based 3+ PoC assets, representing over $5B in global peak sales potential BioPharma Group Revenue sustained at a high CAGR of 50-80%, achieving RMB1B 3+ INDs
Slide 29: Harbour BioMed: Rejoining Stock Connect
2142.HK Harbour BioMed: Rejoining Stock Connect Officially Included for Trading from Sept. 2026 www.harbourbiomed.com www.nonabio.com 30
Slide 30: Dual Wheel Immunology and Inflammatory Portfolio
Dual Wheel Immunology and Inflammatory Portfolio Strategic Focus on 3 Core IMM TA – Respiratory, Gastroenterology, Dermatology and Immune Cell Depletion Modality Program & Targets Indication Discovery IND Ph1 Ph2 Ph3/BLA Territory Partner Positioning HBM9161 Batoclimab GC • China commercial partnere
Slide 31: Robust Portfolio of Potentially BIC Pipelines in Oncology, Obesity and CNS
Robust Portfolio of Potentially BIC Pipelines in Oncology, Obesity and CNS Modality Program & Targets Indication Discovery IND Ph1 Ph2 Ph3 Territory Partner Positioning HBM4003 PD-1 Combo: MEL, Ex-GC Solstice • Superior safety vs. Ipilimumab mAb Porustobart NSCLC, HCC, NEN, 1 （out-licensed） Oncology