Molecular Partners Ag · SIX:MOLN
Molecular Partners — Investor Presentation (October 2026)
38 slides from Molecular Partners's investor presentation, Oct 29, 2026
Slide 1: Building a Leading Radiotherapeutics Company
Building a Leading Radiotherapeutics Company An isotope-agnostic strategy for a focused, scalable portfolio Patrick Amstutz, CEO October 29, 2026 Nasdaq, SIX Swiss Exchange: MOLN
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements. Any statements contained in this presentation that do not describe historical facts may constitute forward- looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, as amended, including with
Slide 3: Our Ambition: To Lead the Next Wave of Targeted Alpha Therapy
Our Ambition: To Lead the Next Wave of Targeted Alpha Therapy Win with lead assets Build a repeatable engine Scale with world-class experts MP0712 / MP0714 establish clinical proof in Isotope agnostic strategy with Radio-DARPins Partnerships to cover full value chain of SCLC and neuroendocrine cance
Slide 4: Our Pipeline & Upcoming Catalysts
Our Pipeline & Upcoming Catalysts CANDIDATE TARGET ISOTOPE RESEARCH PRE-CLINICAL PHASE 1 PHASE 2 PHASE 3 MP0712 DLL3 212Pb SCLC & NECs Initial clinical data reported in 2026 Co-development* Safety and efficacy data expected in 2027 MP0714 DLL3 225Ac SCLC & NECs MP0726 MSLN 225Ac Ovarian cancer & add
Slide 5: Molecular Partners is Building a Tailored Radiotherapeutics Engine
Molecular Partners is Building a Tailored Radiotherapeutics Engine Three design dimensions for differentiated, impactful medicines for patients DISEASE & TARGET x VECTOR DESIGN x ISOTOPE Select biology where precision Engineer exposure, Match isotope to tumor biology radiation can change outcomes up
Slide 6: Radio-DARPins for Next-Gen Targeted Alpha Therapy
Radio-DARPins for Next-Gen Targeted Alpha Therapy DARPin: ISOTOPE-AGNOSTIC VECTOR FOR RADIOPHARMACEUTICALS ALPHA-EMITTING • Proven selective targeting THERAPEUTIC ISOTOPES • High affinity, tumor retention • Clinical efficacy observed • Broad target space CHELATOR • High energy deposition • Small siz
Slide 7: MP0712 (DLL3 x 212Pb)
MP0712 (DLL3 x 212Pb) Phase 1/2a study for SCLC and NECs Early safety data support dose escalation Efficacy data expected in 2027
Slide 8: MP0712: ADC-like Internalization, with Alpha Radiation as Payload
MP0712: ADC-like Internalization, with Alpha Radiation as Payload DLL3 Targeted Radiotherapy for SCLC and NECs DLL3 – Validated Target with Large Addressable Patient Population MP0712 Internalize like an ADC – DLL3 biology to drive tumor hypothesis uptake despite low target density 7 SCLC Kill with
Slide 9: MP0712: High Tumor Uptake via DLL3 Replenishment and Half-Life Engineering
MP0712: High Tumor Uptake via DLL3 Replenishment and Half-Life Engineering • DARPin • Nucleus • Endosome DARPin half-life optimization allows to leverage rapid internalization & replenishment of DLL3 for high MP0712 accumulation in tumors Immunofluorescence co-staining of anti-DARPin antibody, an ea
Slide 10: Imaging with 203Pb-MP0712 Supports Mode of Action
Imaging with 203Pb-MP0712 Supports Mode of Action Tumor uptake increases over time while healthy organs wash out 4h 24 h 116 h Patient characteristics Initial blood pool Lesion uptake emerges Sustained tumor uptake • 69-year-old male (smoker) • Small cell neuroendocrine carcinoma of the lung • Stage
Slide 11: Biodistribution Profile of 203Pb-MP0712 in mSCLC Patient
Biodistribution Profile of 203Pb-MP0712 in mSCLC Patient 212Pb timeframe (<48h) Dosimetry Data 0.020 0.016 Tumor Lesions • Continued tumor uptake during 0.012 imaging period (up to 116 h) % IA/g 0.008 • Higher uptake in liver metastases as compared to primary lesion 0.004 Healthy • Washout from heal
Slide 12: MP0712 Organ Dosimetry and Projection to Phase 1
Dosimetry Data MP0712 Organ Dosimetry and Projection to Phase 1 203Pb Time-Activity Curves Dosimetry extrapolations Kidneys Starting Dose Top Dose 0.012 1x 75 MBq 212Pb 1x 200 MBq 212Pb Patients External Beam Mean 0.008 5.7 Radiation (EBRT) limit: %IA/g Absorbed Dose 212Pb (Gy) Absorbed Dose 212Pb (
Slide 13: MP0712 Phase 1/2a Study for SCLC and NECs
MP0712 Phase 1/2a Study for SCLC and NECs • US multicenter, Phase 1/2a study of MP0712 monotherapy (NCT07278479) − SCLC patients after ≥2 prior systemic therapies or not eligible for standard 2L therapy; − Lung LC NEC patients after ≥1 prior systemic therapy Phase 1: Dose Escalation Phase 2a: Dose E
Slide 14: MP0712 Phase 1/2a: Overview of Dose Level 1 (75 MBq/cycle)
MP0712 Phase 1/2a: Overview of Dose Level 1 (75 MBq/cycle) The Dose Escalation Review Committee (DERC) endorsed escalation to DL2 (105 MBq/cycle) on 24 August 2026 May June July August September October DERC 24 Aug: Escalation to DL2 endorsed Patient 1 C1D1 C2D1 C3D1 C4D1 C5D1 Patient 2 C1D1 C2D1 C3
Slide 15: Cohort 1 (DL1) Initial Safety Support Dose Escalation
Cohort 1 (DL1) Initial Safety Support Dose Escalation • Platelets and white blood cells (incl. neutrophils and lymphocytes) show mild and transient decreases mid-cycle with full recovery at the end of each cycle and no cumulative toxicity across cycles • Hemoglobin levels remain stable throughout •
Slide 16: Platelets and White Blood Cells Show Mild Transient Decreases
Platelets and White Blood Cells Show Mild Transient Decreases with Full Recovery by the End of Cycle 1 BLOOD markers Platelets White Blood Cell Count 300 8 Patient 1 Patient 1 White Blood Cells (G/L) 7 Thrombocytes (G/L) Patient 2 Patient 2 6 200 Patient 3 5 Patient 3 4 3 100 G3 (<2 G/L) G3 (<50 G/L
Slide 17: Transient Decreases Recur Across Cycles, with No Cumulative Toxicity
Transient Decreases Recur Across Cycles, with No Cumulative Toxicity BLOOD markers Platelets White Blood Cell Count 300 8 Patient 1 Patient 1 White Blood Cells (G/L) 7 Thrombocytes (G/L) Patient 2 Patient 2 6 200 Patient 3 5 Patient 3 4 3 100 G3 (<2 G/L) G3 (<50 G/L) G4 (<1 G/L) G4 (<25 G/L) 0 0 1 1
Slide 18: Neutrophils and Lymphocytes Mirror Total White Blood Cells while Hemoglobin Remains Stable
Neutrophils and Lymphocytes Mirror Total White Blood Cells while Hemoglobin Remains Stable BLOOD markers Absolute Neutrophil Count Absolute Lymphocyte Count Hemoglobin 6 1.5 140 Patient 1 Patient 1 Patient 1 Lymphocytes (G/L) Patient 2 Hemoglobin (g/L) Neutrophils (G/L) Patient 2 Patient 2 120 4 Pat
Slide 19: Liver Enzymes and Bilirubin Remain Within Normal Range
Liver Enzymes and Bilirubin Remain Within Normal Range LIVER markers Aspartate Transaminase Alanine Transaminase Total Bilirubin Aspartate Transaminase (U/L) Alanine Transaminase (U/L) 80 Patient 1 80 Patient 1 Patient 1 Total Bilirubin (mg/dL) Patient 2 Patient 2 2 Patient 2 60 60 Patient 3 Patient
Slide 20: Renal Function Remains Stable Across All Subjects
Renal Function Remains Stable Across All Subjects KIDNEY markers Serum Creatinine Calculated GFR Patient 1 Patient 1 Serum Creatinine (mg/dL) Calculated GFR (mL/min) Patient 2 120 Patient 2 2 Patient 3 100 Patient 3 1 80 60 0 40 1 15 29 43 57 71 85 1 15 29 43 57 71 85 Study Day Study Day Preliminary
Slide 21: MP0712 Cohort 1 (DL1) Initial Safety Support Dose Escalation
MP0712 Cohort 1 (DL1) Initial Safety Support Dose Escalation Encouraging Initial Safety Results Escalating to Higher Doses Outlook to Efficacy Results 2027 ➢ No DLT in dose level 1 (DL1, 75MBq) ➢ Dosing ongoing in DL2 (105 MBq) ➢ All study sites to open in 2026 ➢ Exposure maintained to-date ➢ DL2 fu
Slide 22: MP0714 (DLL3 x 225Ac)
MP0714 (DLL3 x 225Ac) Compassionate Care for SCLC and epNECs ➢ Imaging & treatment of patients initiated in South Africa ➢ Request by Dr. Mike Sathekge of NuMeRI
Slide 23: Lead-212 and Actinium-225 Create Unique Strategic Optionality
Lead-212 and Actinium-225 Create Unique Strategic Optionality 212Pb | MP0712 225Ac | MP0714 212Pb 225Ac DLL3 DARPIN DOTAM DLL3 DARPIN DOTA HLE HLE US Phase 1/2a study ongoing, dosing patients Compassionate care in South Africa just initiated, first patients dosed ➢ 212Pb / 203Pb used for treatment/i
Slide 24: MP0726 (MSLN)
MP0726 (MSLN) Targeted Alpha Radiotherapy for Ovarian Cancer ➢ Staged investment to de-risk safety questions on MSLN ➢ Progress to FIH imaging in 2026
Slide 25: MP0726: Targeted Alpha Radiotherapy for Ovarian and Other Cancers
MP0726: Targeted Alpha Radiotherapy for Ovarian and Other Cancers Designed to bypass impact of shed MSLN MSLN – highly expressed target across multiple solid cancers MP0726 Alpha emitting Ovarian αMSLN DARPin therapeutic isotope • Ovarian cancer: >80% prevalence 26.8 11.8 Pancreatic • Maintained in
Slide 26: MP0726 Enables Targeted Alpha Therapy for MSLN-Expr. Cancers
MP0726 Enables Targeted Alpha Therapy for MSLN-Expr. Cancers Pre-clinical data support MP0726 development Staged Clinical investment ✓ Designed to bind membrane-proximal epitope Proximal MSLN DARPin-1 x HLE ✓ Cell 60 binding maintained despite shed MSLN 4h Ph1 24h ✓ Favorable biodistribution shown
Slide 27: MP0730 (CD70)
MP0730 (CD70) Targeted Alpha Radiotherapy for kidney cancer and beyond ➢ FIH program start expected mid 2027
Slide 28: MP0730: CD70-Targeting Alpha Radiotherapy for RCC & Beyond
MP0730: CD70-Targeting Alpha Radiotherapy for RCC & Beyond CD70 – Validated Target with Broad Expression • >80% of kidney cancer (ccRCC)4,5; linked to disease biology CD70 • Maintained expression in metastases Alpha emitting Avoid liabilities from CAIX therapeutic isotope CD70 DARPin targeting (GI t
Slide 29: Attractive Biodistribution Profile of CD70-Targeting Radio-DARPin
Attractive Biodistribution Profile of CD70-Targeting Radio-DARPin Pre-clinical data support development Accelerated Clinical investment ✓ Favorable biodistribution shown in tumor model ✓ Candidates with tumor:kidney ratio >3 identified Ph1 ✓ Initial pre-clinical data presented in October 2026 Lead c
Slide 30: Concluding Remarks & Outlook
Concluding Remarks & Outlook
Slide 31: Our Near-Term Investment Priorities
Our Near-Term Investment Priorities PRIORITY FOCUS OBJECTIVES 1 MP0712 / MP0714 Confirm safety, establish dose and efficacy 2 MP0726 / MP0730 Prove Radio-DARPin transferability with human imaging and dosimetry 3 Imaging Strategy Build scalable patient-selection and development tools 4 Manufacturing
Slide 32: Outlook and Upcoming Milestones
Outlook and Upcoming Milestones NOW 2027 2028 & beyond MP0712 / DLL3 • Phase 1 study dose escalation • Efficacy data expected in 2027 • Registration studies (2L / 1L) (now at dose level 2) • DLL3 expansion strategy, • Initial safety data reported in 2026 including MP0714 • Deepen winning indications
Slide 33: A leading radiotherapeutics company that repeatedly turns biology into medicines
A leading radiotherapeutics company that repeatedly turns biology into medicines
Slide 34: Upside Potential Outside Radio-DARPins
Upside Potential Outside Radio Poster at ESMO 2026 Poster at ASH 2026 Poster at SITC 2026 MP0317 / FAP-localized CD40 agonist MP0533 / Tetraspecific TCE MP0632 / Switch-DARPin TCE Designed for TME remodeling Designed for mutation-agnostic, Designed for logic-gated, through local immune cell activati
Slide 35: Preclinical and Dosimetry Backup
MP0712 Preclinical and Dosimetry Backup
Slide 36: MP0712: Biodistribution and Potent Activity
MP0712: Biodistribution and Potent Activity In mouse models matching the low DLL3 expression levels of patients High Tumor Accumulation Reduction of Established Tumors (Tumor > Kidney) 100 2000 4h MP0712 (4x10µCi) 24 h MP0712 (8x5µCi) Negative control (4x10µCi) 80 57 Buffer 1500 Tumor Volume (mm3) 6
Slide 37: MP0712 Preclinical Safety Data Support Heme Recovery Hypothesis
MP0712 Preclinical Safety Data Support Heme Recovery Hypothesis Preclinical Data • Recovery of hematologic profile after 28 days • MP0712 treatment up to 30 µCi well tolerated • 10 µCi corresponds to ~75 MBq in human • 30 µCi corresponds to ~225 MBq in human MP0712 DRF study done in WT mice Croset A
Slide 38: Radio-DARPins to Expand Target and Indication Space
Radio-DARPins to Expand Target and Indication Space Low target density – Shedding of targets Tumor heterogeneity – Cover 2 targets Internalization & replenishment with 1 DARPin (2-in-1 DuoDARPin) MP0712 / DLL3 MP0726 / MSLN Bispecific DARPins showcased at GRC in July 2026 GRC, Gordon Research Confer
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