IO Biotech, Inc. · OTC:IOBTQ
IO Biotech — Corporate Update (August 2025)
28 slides from IO Biotech's corporate update, Aug 11, 2025
Slide 1: IO Biotech Conference Call: Pivotal Phase 3 Trial Results
Breaking Boundaries. Igniting Change. IO Biotech Conference Call Pivotal Phase 3 Trial Results 11August2025 Exhibit 99.2
Slide 2: Disclaimer | Forward Looking Statements
DISCLAIMER | Forward Looking Statements Certain information contained in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, related to our business pl
Slide 3: Agenda for Today's Call
Agenda for Today’s Call Topic Speaker Introduction Mai-Britt Zocca, Ph.D., chief executive officer Cylembio Phase 3 Data Qasim Ahmad, M.D., chief medical officer First-line Advanced Melanoma Treatment Landscape Omid Hamid, MD, Director, Clinical Research and Immunotherapy at The Angeles Clinic and R
Slide 4: Cylembio is an investigational drug candidate not approved for marketing
Cylembio is an investigational drug candidate that has not been approved for marketing by the US FDA or other regulatory authorities.
Slide 5: IO Biotech | Breaking boundaries. Igniting change
IO Biotech | Breaking boundaries. Igniting change of patients progress within one year of treatment 2025 Discuss path forward with FDA, potentially submit BLA PHASE 3 RESULTS * Statistical significance threshold for this study was p=0.045. 1. https://gco.iarc.fr/today/en/; 2. https://seer.cancer.gov
Slide 6: The Melanoma Patient Journey
1. Melanoma of the Skin — Cancer Stat Facts; 2. https://seer.cancer.gov/statfacts/html/melan.html; Bajaj. J Natl Cancer Inst. 2020; Leeneman. EJC. 2021; Zhang. Adv Ther. 2023; Eggermont. J of Clin Onc. 2019; Eggermont. NEJM. 2022; Wolchok. J Clin Oncol. 2022; Miller, CA Cancer J Clin, 2019; National
Slide 7: Topline results
PHASE 3 TRIAL | Topline results Cylembio demonstrated PFS benefit regardless of prespecified subgroups or stratification factors Median progression free survival, ITT analysis: Cylembio plus pembrolizumab 19.4 months vs. 11.0 months for patients treated with pembrolizumab alone, HR=0.77 (CI 0.58-1.0
Slide 8: Mechanism of Action
MECHANISM OF ACTION | IO Biotech’s T-win® vaccine approach supported by improvement in mPFS demonstrated with Cylembio in Phase 3 Subcutaneous injection with T-win® therapeutic cancer vaccine T-win vaccine activates T cells with a dual mechanism of action T cells attack both target expressing tumor
Slide 9: Pipeline: 3 T-win product candidates in multiple cancer indications
Product candidates Line of therapy/ indication Pre-clinical Phase 1 Phase 2 Phase 3 Takeaways & next steps Cylembio® IO102-IO103 Targets: IDO1, PD-L1 IOB-013: First Line Advanced Melanoma* Cylembio demonstrates clinical improvement in mPFS, narrow miss on statistical significance Plans to discuss da
Slide 10: Cylembio Phase 3 Pivotal Trial Results
Cylembio Phase 3 Pivotal Trial Results
Slide 11: Phase 3 Clinical Trial Design
Primary endpoint PFS by central review Secondary/exploratory endpoints ORR, DRR, CRR, OS, DoR, TTR, DCR Incidence of AEs and SAEs Quality of life Biomarkers in blood and tumor tissue will also be assessed Stratification Endpoints Randomization 407 enrolled across >100 sites in Europe, Australia, Sou
Slide 12: PFS primary analysis by blinded independent review
PHASE 3 TRIAL | Early separation of PFS curves at 3 months – widening over time PFS primary analysis by blinded independent review committee (stratified by PD-L1 and Disease Stage) Median PFS: Cylembio + Pembro: 19.4 months Pembro: 11.0 months Marginally missed statistical significance: HR = 0.77 (0
Slide 13: Baseline characteristics table
IO102-IO103 + Pembro N (%) Pembrolizumab N (%) IO102-IO103 + Pembro N (%) Pembrolizumab N (%) Age [years] Region, n (%) n 203 204 USA 7 (3.4) 10 (4.9) Mean (SD) 67.5 (13.71) 67.7 (12.96) ROW 196 (96.6) 194 (95.1) Median (Q1, Q3) 71.0 (59.0, 78.0) 69.0 (60.0, 78.0) Weight [kg] Min, Max 28, 88 22, 91
Slide 14: Baseline characteristics table (continued)
IO102-IO103 + Pembro N (%) Pembrolizumab N (%) IO102-IO103 + Pembro N (%) Pembrolizumab N (%) PD-L1, n (%) Prior melanoma systemic anti-cancer therapy, n (%) Positive (MEL score >=2) 129 (63.5) 127 (62.3) Anti PD-1/PD-L1 15 ( 7.4) 21 (10.3) Negative (MEL score =0, 1) 67 (33.0) 63 (30.9) BRAF/MEK inh
Slide 15: Baseline characteristics balanced across treatment arms (1 of 2)
PHASE 3 TRIAL | Baseline characteristics balanced across treatment arms and reflect real world melanoma patients (1 of 2) Consistent improvement observed across the majority of sub-groups Source: Company data on file.
Slide 16: Baseline characteristics balanced across treatment arms (1 of 2)
PHASE 3 TRIAL | Baseline characteristics balanced across treatment arms and reflect real world melanoma patients (1 of 2) Consistent improvement observed across the majority of sub-groups Source: Company data on file. Effect observed in both PD-L1+ and PD-L1- patients, with profound effect In PD-L1
Slide 17: Baseline characteristics balanced across treatment arms (2 of 2)
PHASE 3 TRIAL | Baseline characteristics balanced across treatment arms and reflect real world melanoma patients (2 of 2) Consistent improvement observed across the majority of sub-groups Source: Company data on file.
Slide 18: Baseline characteristics balanced across treatment arms (2 of 2)
PHASE 3 TRIAL | Baseline characteristics balanced across treatment arms and reflect real world melanoma patients (2 of 2) Consistent improvement observed across the majority of sub-groups Source: Company data on file. Per phase 1/2 trial population, excluding patients with prior anti-PD1 exposure**
Slide 19: Baseline characteristics balanced across treatment arms (2 of 2)
PHASE 3 TRIAL | Baseline characteristics balanced across treatment arms and reflect real world melanoma patients (2 of 2) Consistent improvement observed across the majority of sub-groups Source: Company data on file. Excluding acral/mucosal patient (n=24) per protocol**: Cylembio plus pembrolizumab
Slide 20: Trend in Overall Survival Benefiting Cylembio
PHASE 3 TRIAL | Trend in Overall Survival Benefiting Cylembio (not yet mature) separated early and widens Source: Company data on file.
Slide 21: Safety Data
SAFETY DATA | Treatment with Cylembio did not add significant systemic toxicity compared to patients treated with pembrolizumab monotherapy IO102-IO103 + Pembrolizumab (N=200) Pembrolizumab (N=198) Time at risk [months] [1] Mean 14.9 14.1 Patients with AEs, n (%) 194 (97.0) 187 (94.4) Patients with
Slide 22: Topline results
PHASE 3 TRIAL | Topline results Cylembio demonstrated PFS benefit regardless of prespecified subgroups or stratification factors Median progression free survival, ITT analysis: Cylembio plus pembrolizumab 19.4 months vs. 11.0 months for patients treated with pembrolizumab alone, HR=0.77 (CI 0.58-1.0
Slide 23: 1st Line Advanced Melanoma Treatment Landscape
1st Line Advanced Melanoma Treatment Landscape Omid Hamid, MD, Director, Clinical Research and Immunotherapy at The Angeles Clinic and Research Institute, A Cedars Sinai Affiliate
Slide 24: Market Opportunity in Advanced Melanoma
MARKET OPPORTUNITY IN ADVANCED MELANOMA | Cylembio® profile has potential to fulfill significant unmet needs and drive market leadership 1. https://gco.iarc.fr/today/en/; 2. https://seer.cancer.gov/statfacts/html/melan.html; 3. Melanoma Research Alliance; 4. Larkin et al. N Engl J Med 2019;381:1535-
Slide 25: Competitive Landscape
COMPETITIVE LANDSCAPE | If approved, Cylembio would be well-positioned for the treatment of first line advanced melanoma Cylembio (IOB-013) Opdualag (RELA-047) Ipi/Nivo (CM-067) Pembro KN-006 Pembro n=204 Cylembio + pembro n=203 Nivo n=359 Nivo+Rela n=355 Ipi n=315 Ipi+Nivo n=314 Ipi n=181 Pembro n=
Slide 26: Company Milestones
Company Milestones (6)
Slide 27: Milestones
MILESTONES | Several important milestones expected through 2026 Cylembio | 1L Advanced Melanoma Top-line readout of primary endpoint in phase 3 study, 3Q25 Discussions with FDA, Fall 2025; potential BLA submission thereafter Initial data Complete enrollment in neoadj/adj Ph2 cohorts Final data from
Slide 28: IO Biotech Pivotal Phase 3 Trial Results Conference Call
Breaking Boundaries. Igniting Change. IO Biotech Corporate Presentation Pivotal Phase 3 Trial Results Conference Call 11August2025