Active Biotech Ab · OMXSTO:ACTI
Active Biotech Ab — Investor Presentation (November 2025)
30 slides from Active Biotech Ab's investor presentation, Nov 4, 2025
Slide 1: \Biotech
\Biotech XS
Slide 2: Disclaimer
Disclaimer • Certain statements made during the course of this presentation are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company, or i
Slide 3: Active Biotech in brief
Active Biotech in brief Refocused development in specialist disease areas Finance & Corporate • Large unmet medical need and value potential • Listed on Nasdaq Stockholm Small Cap (ticker: ACTI) • Tasquinimod - Haematological malignancies ( Ph I/II studies ongoing) • Market cap SEK 99.3 M, USD 10.4
Slide 4: Targeting cancer and inflammation through immunomodulation
Targeting cancer and inflammation through immunomodulation Tasquinimod Laquinimod Deliberately Helping the body fight reducing harmful back against immune myelofibrosis: responses Small molecules • Restored anti-tumour immunity Myeloid cell • Decreased modulation angiogenesis • Decreased fibrosis •
Slide 5: Valuable pipeline in cancer and eye disorders
Valuable pipeline in cancer and eye disorders WHOLLY OWNED PORJECTS Disease Area Discovery Preclinical Phase I Phase II Phase III Partner Haematological Tasquinimod Myelofibrosis The University of malignancies Texas MD Anderson Cancer Center Tasquinimod Myelofibrosis Hovon Tasquinimod Multiple myelo
Slide 6: Tasquinimod
Tasquinimod
Slide 7: Tasquinimod: ODD focus in rare haematological malignancies
Tasquinimod: ODD focus in rare haematological malignancies Core focus Concluded study High value opportunity Myelofibrosis (MF) Multiple myeloma (MM) Myelodysplastic syndrome (MDS) Disease modifying potential Complement to existing treatments Restoration of haematopoiesis • Market size 2.3bn (2021)
Slide 8: Tasquinimod in Myelofibrosis
Tasquinimod in Myelofibrosis
Slide 9: Myelofibrosis: A rare chronic blood cancer
Myelofibrosis: A rare chronic blood cancer Myelofibrosis in brief Key characteristics of myelofibrosis • Myelofibrosis is a rare blood cancer with an incidence of approximately 1.5 cases per 100,000 people and with an estimated prevalence of more than 100,000 patients with myelofibrosis in the EU, U
Slide 10: Myelofibrosis: A major unmet medical need
Myelofibrosis: A major unmet medical need Key market insights 85,000 people • Despite four JAK inhibitors approved there is Total prevalent cases for still: myelofibrosis (primary and • A clear unmet need for disease-modifying secondary MF) therapies • A strong demand for effective second-line optio
Slide 11: Tasquinimod improves hallmarks of myelofibrosis and boosts effects of other therapies
Tasquinimod improves hallmarks of myelofibrosis and boosts effects of other therapies Tasquinimod improves core symptoms of myelofibrosis… …and enhances BET and JAK inhibitor efficacy in advanced myelofibrosis 1 Control Tasquinimod Reduced fibrosis Reduced spleen size 2 Reduced spleen size Normaliza
Slide 12: Tasquinimod: Two clinical trials in myelofibrosis
Tasquinimod: Two clinical trials in myelofibrosis Ph-Ib/II studies in patients with primary or secondary myelofibrosis TasqForce1 MD Anderson2 Phase Ib/II trial (N=20) Phase II trial (N=33) Tasquinimod monotherapy in JAKi Tasquinimod monotherapy in JAKi Tasquinimod + ruxolitinib in ineligible/intole
Slide 13: Tasquinimod in Multiple Myeloma
Tasquinimod in Multiple Myeloma
Slide 14: Multiple Myeloma: An incurable blood cancer
Multiple Myeloma: An incurable blood cancer Multiple Myeloma in brief • Multiple myeloma originates in the bone marrow, characterized by the uncontrolled growth of plasma cells • This disrupts normal haematopoiesis, preventing the production of healthy blood cells • Clinical symptoms include bone pa
Slide 15: Tasquinimod shows synergistic efficacy with IRd in heavily pretreated multiple myeloma patients
Tasquinimod shows synergistic efficacy with IRd in heavily pretreated multiple myeloma patients Preliminary efficacy and tolerability of tasquinimod Response lasting 19.8 months Stable disease lasting 7 months • 17 patients received tasquinimod in combination with ixazomib (PI), lenalidomide (Imid)
Slide 16: Laquinimod
NLS — 4 (# Va ae | y ii ee Cl : 4 me rf J ae, { a TE Laquinimod Active ( i\ Biotech
Slide 17: Laquinimod: First in class treatment for eye disorders with unmet medical need
Laquinimod: First in class treatment for eye disorders with unmet medical need Core focus High value indications Dual formulation opportunity • Available in two pharmaceutical-grade formats: oral and an innovative hydrogel eye drop • Eye drop formulation has demonstrated safety, tolerability and eff
Slide 18: Non-infectious uveitis: A significant unmet medical need
Non-infectious uveitis: A significant unmet medical need Standard treatments available today Laquinimod • Corticosteroids: remain the first-line treatment, administered both locally (topical or intravitreal) and systemically • Immunosuppressants: are often used as steroid-sparing agents, especially
Slide 19: Uveitis: A significant opportunity
Uveitis: A significant opportunity Key market insights • Significant opportunity in segment of non- infectious non-anterior uveitis in 7MM, forecasts for 2033 ~240,000 people • Corticosteroids are only effective in about 60% Total diagnosed of patients, leaving many without adequate prevalent cases
Slide 20: Laquinimod works both topically and orally
Laquinimod works both topically and orally Laquinimod reduces Topical laquinimod Oral laquinimod inflammation in experimental uveitis by modulating the immune response: Histological ocular evaluation Topical endoscopic fundus imaging (TEFI) • It lowers levels of pro- ✱✱✱ inflammatory T cells and ✱✱✱
Slide 21: The LION study: Delivery of laquinimod to the posterior parts of the eye
The LION study: Delivery of laquinimod to the posterior parts of the eye Collaboration with Byers Eye Institute, Stanford University School of Medicine Innovative hydrogel eye drop optimized to reach the back of the eye • Principal investigator: MD, Professor Quan Dong Nguyen • Patients undergoing v
Slide 22: Naptumomab
Naptumomab
Slide 23: Naptumomab: Targeted immunotherapy for tumours
Naptumomab: Targeted immunotherapy for tumours Combination with Combination with checkpoint inhibition chemotherapy Pre-clinical data suggest synergy with Pre-clinical data suggest synergy with checkpoint inhibitors chemotherapy • Ph-Ib/IIa combination with anti- • Ph-IIa combination with docetaxel
Slide 24: Conclusion
ie > « ah al Conclusion
Slide 25: Transforming unmet needs into a market opportunity
Transforming unmet needs into a market opportunity Focused A portfolio of immunomodulating assets within oncology and inflammation with significant unmet pipeline needs Regulatory Orphan Drug Designation for tasquinimod in myelofibrosis and multiple myeloma, securing e.g. 7 advantage years of market
Slide 26: APPENDIX
APPENDIX
Slide 27: Financials for the period January – September 2025
Financials for the period January – September 2025 Operating costs by quarter 2024 - 2025 MSEK Liquidity (MSEK) 27.4 26.2 25.3 7.6 7.1 7.1 8.2 7.0 16.8 5.4 13.9 3.3 9.1 3.6 3.6 3.7 6.2 3.3 3.0 2.7 2.7 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 MAR 31 JUNE 30 SEPT 30 DEC 31 MAR 31 JUNE 30 SEPT 30 2024
Slide 28: Meet the management team
Meet the management team Helén Tuvesson Hans Kolam Erik Vahtola President & CEO CFO CMO Born: 1962 Born: 1951 Born: 1976 CEO since 2017 CFO since 2000 CMO since 2022 Education: MSc, PhD in cell and molecular Education: B.Sc in Business Administration Education: Medical Doctor (MD) and PhD in biology
Slide 29: Board of Directors
Board of Directors MICHAEL SHALMI AXEL GLASMACHER PETER THE LIN ALE XANDER DANILOVSKI ULI HACKSELL Cha irm an of the Boa rd Boa rd me mber Boa rd me mber Boa rd me mber Boa rd me mber Born 1965 Born 1960 Born 1956 Born 1974 Born 1950 Cha irman of the boa rd since 2019 Boa rd me mber since 2020 Boa r
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