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 2

Break Boundaries. Ignite Change.

Nasdaq: IOBT Corporate Presentation January 2024 Exhibit 99.1

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 plan, clinical trials and regulatory submissions. We may, in some cases, use terms such as "may," "should," "would," "expects," "plans,"

"anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or

"continue" or other words that convey uncertainty of the future events or outcomes to identify these forward-looking statements. Our forward-looking statements are based on current beliefs and expectations of our management team that

involve risks, potential changes in circumstances, assumptions, and uncertainties. Any or all of the forward-looking statements may turn out to be wrong or be affected by inaccurate assumptions we might make or by known or unknown risks and

uncertainties. These forward-looking statements are subject to risks and uncertainties including risks related to the execution of our business plan, success and timing of our clinical trials or other studies and the other risks set forth in our

filings with the U.S. Securities and Exchange Commission. For all these reasons, actual results and developments could be materially different from those expressed in or implied by our forward-looking statements. You are cautioned not to place

undue reliance on these forward-looking statements, which are made only as of the date of this presentation. We undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Indications: Melanoma SCCHN NSCLC 3

T-win cancer vaccine technology platform 1 3 Pipeline programs 17 Patent Families Focused on improving clinical effect without adding systemic toxicity 50% 80% * Results from phase 1/2 MM1636 Melanoma 25.5 Months mPFS* Providing rapid and durable

responses HIGHLIGHTS | Break Boundaries. Ignite Change. 3Q24 Ph. 3 interim analysis outcome IO102-IO103 in Ph. 3 Pivotal trial in advanced melanoma fully enrolled 2025 Potential US market entry ORR* CRR*

PATIENT AND MARKET PERSPECTIVE 1 OUR

UNIQUE VALUE PROPOSITION 2 OUR PIPELINE AND THE SCIENCE BEHIND IT 3 GROWTH STRATEGY AND OUTLOOK 4 THE IO BIOTECH TEAM 5 CONTENT

PATIENT FOCUS | Improving patient

outcomes without adding systemic toxicity on both advanced and earlier stages of cancer * IOBT is also present in two other indications: Squamous Cell Carcinoma of the Head and Neck (SCCHN) and Non-Small Cell Lung Cancer Treatment (NSCLC) ** Results

from phase 1/2 MM1636 Melanoma Sources: Cancer.net Editorial Board 2023 Evolving focus IO102 - IO103 vaccine in neo-adjuvant / adjuvant Exploring treatment with a curable intent and applicable to earlier stages of cancer IO BIOTECH'S

FOCUS WITH IO102-IO103 IN MELANOMA* Current focus IO102 - IO103 vaccine in advanced melanoma The phase 1/2 trial in metastatic melanoma showed a nearly doubling of the expected activity of anti-PD1 alone, with no added systemic toxicity

(80% ORR**) AN UNMET NEED < Diagnosis 16% of all diagnosed Advanced melanoma treatment paradigm Surgery (if applicable) Stage III/IV cancer There is a need for therapeutic strategies that can continue to improve patient outcomes, with novel

mechanisms of action to optimize treatment response without adding systemic toxicity.

MARKET | IO Biotech aims to address

the unmet need in 3 large and growing indications Squamous Cell Carcinoma of the Head and Neck* (SCCHN) Non-Small Cell Lung Cancer Treatment** (NSCLC) Melanoma New cases, worldwide Deaths, worldwide New cases, worldwide Deaths, worldwide New cases,

worldwide Deaths, worldwide 2020 Estimation for 2040 ~510 000 ~325,000 ~57,000 ~96,000 ~744,000 1,109,000 ~364,000 ~1,875,000 ~3,084,000 ~1,526,000 ~556,000 ~2,557,000 +57% +68% +49% +52% +64% +68% *Data represented here is a sum of incidence

of Lip, Oral Cavity, Larynx, Hypopharynx, and Oropharynx cancer ** Data represented here corresponds to 85% of the incidence of trachea, bronchus and lung. Sources: International agency for research on cancer

2028 2022 16 14 12 10 8 6 4 2 +11%

2028 2022 2028 2022 Forecast global Melanoma Drug Sales in USD billions Forecast global SCCHN Drug Sales in USD billions Forecast global NSCLC Drug Sales in USD billions 0.0 4.0 5.0 4.5 3.5 3.0 2.5 2.0 1.5 1.0 0.5 +8% 0 90 80 70 60 50 40 30 4.3 9.0

5.4 3.3 20 10 +10% CAGR 30.0 54.4 27.0 15.5 14.4 7.6 2.9 4.7 CAGR 45.5 81.4 CAGR MARKET | Expected growth in global cancer drug sales for 2028 indicates a need for new and effective treatments Key takeaways: All three indications are projected to

grow at a similar rate (CAGR between 8% and 11%) with Melanoma having the fastest estimated growth rate. NSCLC has the highest projected market value and given its large market size, even a small market share could be substantial. US US US Source:

Evaluate Pharma accessed December 2023

MARKET | Solid tumors are often

detected at advanced stages, or progressing quickly to advanced stage, increasing the mortality rate ~325,000 New cases in 2020, worldwide ~57,000 Deaths in 2020, worldwide ~744,000 New cases in 2020, worldwide ~364,000 Deaths in 2020, worldwide

Melanoma Non-Small Cell Lung Cancer Treatment** (NSCLC) Squamous Cell Carcinoma of the Head and Neck* (SCCHN) ~1,875,000 New cases in 2020, worldwide ~1,526,000 Deaths in 2020, worldwide Global cancer incidence Worldwide, lung cancer is the 2nd most

diagnosed cancer and NSCLC is estimated to account for 85% of all lung cancer diagnoses 5-year survival rate The 5-year survival rate for patients in stage IV is 22.5%1 The 5-year survival rate is 50%2 The 5-year relative survival rate for patients

in stage IV is 28% 3 Stages at diagnosis Stage I/II and III/IV melanoma accounts for 84% and 16% of the new cases, respectively Stage I/II, III and IV SCCHN accounts for 28%, 55% and 17% of the new cases, respectively Stage I, II, III and IV lung

cancer accounts for 21%, 5%, 23% and 44% of the new cases, respectively Worldwide, SCCHN is the 6th most diagnosed cancer Worldwide, melanoma is the 17th most diagnosed cancer and 5th most common cancer in the US *Data represented here is a sum of

incidence of Lip, Oral Cavity, Larynx, Hypopharynx, and Oropharynx cancer ** Data represented here corresponds to 85% of the incidence of trachea, bronchus and lung. Source: International agency for research on cancer 1. Melanoma Research Alliance;

2. National Library of Medicine, The Journal of Pain 3. Cancer.Net

MARKET | Melanoma, SCCHN, and NSCLC

are worldwide cancer threats, but especially present in Europe, North America and Oceania 16,1 Northern America Oceania Europe 9,0 Melanoma SCCHN NSCLC 27,71 11,4 11,0 25,0 30,1 11,2 20,4 Asia 0,4 8,1 19,5 Melanoma, SCCHN, and NSCLC incidence in

2020, age standardized rate (ASR) per 100,000 Key takeaways: Worldwide, melanoma is the 17th most diagnosed cancer and 5th most common cancer in the US Worldwide, SCCHN is the 6th most diagnosed cancer (sum of Lip, Oral Cavity, Larynx, Hypopharynx,

and Oropharynx cancer) Worldwide, lung is the 2nd most diagnosed cancer and NSCLC is estimated to account for 85% of all lung cancer diagnoses Latin America and the Caribbean 2,3 5,8 10,2 Africa 0,9 3,7 5,3 *Germany, France, Italy, Spain, UK

Sources: GLOBOCAN, International Agency for Research Cancer, 2020

PATIENT AND MARKET PERSPECTIVE 1

OUR UNIQUE VALUE PROPOSITION 2 OUR PIPELINE AND THE SCIENCE BEHIND IT 3 GROWTH STRATEGY AND OUTLOOK 4 THE IO BIOTECH TEAM 5 CONTENT

Clinical POC Enhanced activity

outcomes when administered in combination with anti PD-1 therapy high ORR of 80%, with 50% of patients reaching a CR Duration of response demonstrated rapid and durable responses No added systemic toxicity Favorable safety & tolerability

Safety profile of IO102-IO103 combined with anti PD-1 in Ph 1/2 comparable to anti-PD-1 mono therapy Broad applicability Responses across patient subgroups BRAF mutation, PD-L1 status, LDH. Minimized time to treatment Preparation and

administration designed as readily available off-the shelf vaccine providing immediate treatment within the optimal therapeutic window compared to personalized approaches T-win cancer vaccine technology platform with a dual mechanism of action

Targets both the tumor and the immuno- suppressive cells in the TME Enhanced activity by modulating the TME and creating a more pro-inflammatory environment Multi-dimensional level Potential to broad application to different indications (different

cancer types) Advances the IO treatment paradigm Clinical data showing activity without added systemic toxicity T-win cancer vaccine technology platform with a dual mechanism of action Time to treatment Off-the-shelf therapeutic cancer

vaccines Unique Value Proposition PROOF POINTS PROOF POINTS PROOF POINTS *HCPs = healthcare professionals Sources: Munir et al. 2012; Munir et al. 2013; Ahmad et al. 2014 ;Andersen 2019 ; Kjeldsen et al, 2021 UNIQUE VALUE PROPOSITION |

T-Win investigational IO102-IO103 cancer vaccine with dual mechanism of action and POC with high clinical efficacy

UNIQUE VALUE PROPOSITION |

Preliminary physician feedback highlights from market research the potential of IO Biotech's vaccine IO102-IO103 The mOS is the most impressive data presented - the 16 months improvement is excellent - FR KOL (if) the ORR is superior to

ipi + nivo, this product will become the new standard of care - US KOL I would probably use this for all my patients regardless of BRAF or PD-L1 status - US KOL Excited to help more patients and see how benefit would be in long term -

KOL Encouraging that there are no trade-offs between AEs and efficacy - KOL It can be broadly expanded to a larger subset of patients and deliver great efficacy - KOL Source: Physician market research , Q4 2023; Brainsurgery and IO Biotech (2023);

reactions to Ph1/2 data and target product profile

IO Biotech is developing a cancer

vaccine aiming to improve patient outcomes, without adding systemic toxicity, focusing on efficacy, durability, safety, and tolerability UNIQUE VALUE PROPOSITION | IO Biotech aims to address the unmet needs of the patients vis- -vis current

therapies Parameter Standard of Care Recently approved therapy Efficacy Safety Tolerability CURRENT THERAPIES IN MELANOMA IOBT'S VALUE PROPOSITION Initials: Initials: 59% of those patients experience severe adverse events2 40% of advanced

melanoma patients do not fully benefit from current therapies1 Clinical data showing activity without added systemic toxicity Current anti-PD1 combination therapies for advanced melanoma offer either better efficacy or safety, but not both PATIENT

NEEDS 1/10 2/10 3/10 5/10 6/10 7/10 8/10 9/10 10/10 1/10 2/10 3/10 5/10 7/10 8/10 9/10 10/10 Relative disadvantage Relative advantage Patients seek better outcomes, that lead to better treatment responses, not adding systemic toxicity. Sources:

Prescribing informations (Opdualag , Opdivo , Yervoy ), CHECKMATE-067: Phase 3 Study of Nivolumab or Nivolumab Plus Ipilimumab Versus Ipilimumab Alone in Previously Untreated Advanced Melanoma ; RELATIVITY-047; A Study of Relatlimab

Plus Nivolumab Versus Nivolumab Alone in Participants With Advanced Melanoma

PATIENT AND MARKET PERSPECTIVE 1

OUR UNIQUE VALUE PROPOSITION 2 OUR PIPELINE AND THE SCIENCE BEHIND IT 3 GROWTH STRATEGY AND OUTLOOK 4 THE IO BIOTECH TEAM 5 CONTENT

TECHNOLOGY PLATFORM | T-Win

cancer vaccines have a dual mechanism of action, targeting both tumor cells and immuno-suppressive cells in the TME T cells attack both tumor cells and target-expressing immuno-suppressive cells (e.g., IDO1, PDL1) The modulated and inflamed TME

becomes immune permissive, enabling further tumor cell killing by the T cells T-win vaccine activates T cells with a dual mechanism of action Subcutaneous injection with T- win cancer vaccine technology, once every three weeks The T-win cancer

vaccine platform provide new therapeutic strategies that can continue to improve patient outcomes with novel mechanism of action and by addressing multiple TME suppressive elements in solid tumors. Sources: Kjeldsen et al. Nat

Med. 2021;27:2212-2223. Erratum in: Nat Med. 2022;28(4):871; (Munir et al. 2012, Munir et al. 2013, Ahmad et al. 2014, Andersen 2019).; (IO Biotech and Lankenau Institute [unpublished data]) ; Andersen, M.H.

Semin. Immunopathol. (2023).

IA 3Q-2024 Product candidates Line

of therapy/ indication Pre-clinical Phase 1 Phase 2 Phase 3 Takeaways IO102-IO103 Targets: IDO, PD-L1 First Line Advanced Melanoma* Phase 3 pivotal trial fully enrolled; outcome of interim analysis (IA) expected 3Q24. Potential

accelerated approval in 2025 if supported by IA IO102-IO103 First Line Solid Tumors* Lung (NSCLC) Head & Neck (SCCHN) Indication expansion strategy in 1L NSCLC and SCCHN on track Neo-adjuvant / Adjuvant Solid Tumors* Melanoma Head &

Neck (SCCHN) Extension into earlier lines of treatment; trial enrolling with high level of interest from global sites IO112 Target: Arginase 1 Solid Tumors Indications TBD Research ongoing - Early-stage pipeline targeting additional

immuno-suppressive mechanisms IO170 Target: TGF-b1 Solid Tumors Indications TBD Research ongoing - Early-stage pipeline targeting additional immuno-suppressive mechanisms From one-dimension with a single product candidate in one indication

to a multi-dimensional pipeline testing patients globally on 3 indications and continuing to expand. Ongoing pipeline development PIPELINE | The T-win cancer vaccine platform with 3 product candidates in multiple cancer indications IA =

Interim Analysis, NSCLC = non-small cell lung cancer, SCCHN = squamous cell carcinoma of the head and neck * In combination with pembrolizumab

CLINICAL TRIALS | The totality of

clinical data for IO102-IO103 is encouraging Ph1/2 in melanoma (MM1636) with encouraging results, driving continued clinical development Ph3 in first-line advanced melanoma (IOB-013/KN-D18) Ongoing Ph2 in solid tumors basket (IOB-022/KN-D38)

with encouraging preliminary efficacy data; no new safety signals observed FIRST LINE METASTATIC MELANOMA Results from phase 1/2 (MM1636): 80% ORR*, 50% CR Status: Currently in Phase 3 with 380 patients FIRST LINE NSCLC Results from phase 2 ORR 56%

> Benchmark ORR 39%** Status Encouraging preliminary data (n=18) presented at ESMO 2023 FIRST LINE SCCHN Results from phase 2 ORR 3/6 > Benchmark ORR 23%** Status Encouraging preliminary data presented at ESMO 2023 From one-dimension with a

single product candidate in one indication to a multi-dimensional pipeline testing patients globally on 3 indications and continuing to expand. *Two of the 24 responding patients progressed before subsequent radiological

confirmation (as previously reported in Nature Medicine RECIST1.1= 73.3% ORR) **KEYNOTE-042 (pembro alone in 1L NSCLC PD-L1 50%): ORR 39%; KEYNOTE-048 (pembro alone in 1L SCCHN CPS 20%): ORR 23%

CLINICAL TRIALS | Successful

outcomes from phase 1/2 were published in Nature Medicine and drove continued clinical development for 1L melanoma Compelling Data Published in Nature Medicine December 09, 2021 Results showing an attractive safety profile January 2023 Data Cut* as

Published in JITC, May 2023 49.8 Months median follow up 25.5 mOS Median Overall Survival Not yet reached 50% 80% 17% CRR Complete Response Rate ORR Overall Response Rate (as previously reported in Nature; RECIST1.1= 73.3% ORR) TRAEs leading to

discontinuation** Treatment Related Adverse Events Months mPFS Progression Free Survival Phase 1/2 MM1636 Melanoma * January 23 update: One patient was re-evaluated and did not have "real progression" but instead pseudo progression

Lorentzen et al. J Immunother Cancer 2023;11(5):e006755 ** TRAEs were not published in JITC data

NEXT STEPS Pre-defined interim

analysis of ORR: First 225 patients 12 months post randomization; Outcome of interim analysis expected in 3Q2024; if supportive, BLA submission for accelerated approval MILESTONES IDMC meeting in September 2023 recommended that the trial continue

without modifications; Completed enrolment of 380 patients November 2023 >100 sites enrolling patients in Europe, Australia, South Africa, Israel and the United States 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 Disease Stage (Low vs high risk)* BRAF (mut vs WT) IO102-IO103 and Pembrolizumab 200mg q3w (N= 190) Pembrolizumab

200mg q3w (N= 190) For up to 35 cycles 1:1 *Stage IIID and IV M1a-b vs. stage IV Mic-d Stratification Endpoints Randomization N=380 Advanced Melanoma Unresectable Stage III Metastatic Stage IV > 6 mo. After adj. neo-adjuvant anti-PD-1 Measurable

disease (RECIST 1.1) ECOG PS 0-1 Stable CNS disease is allowed Eligibility criteria CLINICAL TRIALS | Treatment for 1L melanoma is currently in ph3, fully enrolled with IA in Q3 24 and potential BLA submission by end of 2024 Phase 3 IOB-013/KN-D18

Melanoma Clinical trial design * IDMC = independent data monitoring committee, BLA = Biologics License Applications (US Food and Drug Administration) ClinicalTrials.gov identifier: NCT05155254

PRIMARY ENDPOINT ORR