Full Press Release Details
Corporate Presentation January 2026
Disclaimers and forward-looking
statements This presentation and the accompanying discussion contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, express or implied statements regarding the
Company's plans, progress, and timing relating to the Company's clinical programs and the presentation of data, the Company's current and future research and development plans or expectations, the structure, timing and success of
the Company's planned preclinical development, submission of INDs, and clinical trials, the potential benefits of any of the Company's proprietary platforms or current or future product candidates in treating patients, the Company's
ability to fund its operating expenses and capital expenditure requirements with its existing cash and cash equivalents, and the Company's goals and strategy. TScan intends such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not
limited to, "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe,"
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of those terms. Such forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions, and uncertainties. The express or implied forward-looking statements included in this presentation are
only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: the beneficial characteristics, safety, efficacy, therapeutic effects and potential advantages of TScan's TCR-T therapy
candidates; TScan's expectations regarding its preclinical studies being predictive of clinical trial results; the timing of the initiation, progress and expected results of TScan's preclinical studies, clinical trials and its research
and development programs; TScan's plans relating to developing and commercializing its TCR-T therapy candidates, if approved, including sales strategy; estimates of the size of the addressable market for TScan's TCR-T therapy candidates;
TScan's manufacturing capabilities and the scalable nature of its manufacturing process; TScan's estimates regarding expenses, future milestone payments and revenue, capital requirements and needs for additional financing; TScan's
expectations regarding competition; TScan's anticipated growth strategies; TScan's ability to attract or retain key personnel; TScan's ability to establish and maintain development partnerships and collaborations; TScan's
expectations regarding federal, state and foreign regulatory requirements; TScan's ability to obtain and maintain intellectual property protection for its proprietary platform technology and our product candidates; the sufficiency of
TScan's existing capital resources to fund its future operating expenses and capital expenditure requirements; and other factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of TScan's most recent Annual Report on Form 10-K and any other filings that TScan has made or may make with the SEC in the future. Any forward-looking statements contained in this
presentation represent TScan's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Except as required by law, TScan explicitly disclaims any obligation to update any
forward-looking statements.
TScan is a fully integrated,
next-generation TCR-T cell therapy company HEME MALIGNANCY PROGRAM Targets residual disease to prevent relapse in patients undergoing bone marrow transplant Promising data for TSC-101: Favorable RFS and OS compared to the control-arm with no DLTs.
Durable responses with 100% (3/3) of patients 2-years post-HCT showing detectable TSC-101 cells and no evidence of disease(1) Launch of pivotal study expected in Q2 2026 Substantial commercial opportunity, with potential to expand addressable market
with additional INDs to be filed in 1Q26 SOLID TUMOR PROGRAM Leveraging clinical experience in PLEXI-T study to develop in vivo-engineered multiplex TCR-T cell therapies for solid tumors Clinical and preclinical data from solid tumor program
expected in H1 2026 Discovery AUTOIMMUNITY PROGRAM TScan's proprietary platform enables the discovery of disease-driving autoantigens in areas of high unmet medical need Targets identified for systemic sclerosis, ulcerative colitis, ankylosing
spondylitis, and birdshot uveitis(2) Ongoing collaboration with Amgen for target discovery in Crohn's disease (1) Sept 19, 2025 data cut; Al-Malki et al, abstract ID 2391, presented at ASH Annual Meeting December 2025; (2) Weinheimer et al,
and Pryor et al, presented at ACR Convergence 2025, abstracts 0888, 0997; (3) Includes 56,747,993 outstanding common shares plus 73,087,945 pre-funded warrants ; IND: investigational new drug Clinical Preclinical $184.5M as of Sept 30, 2025 funds
operations into H2 2027 129.8M(3) total economic shares outstanding as of Sept 30, 2025
Promising pipeline across multiple
therapeutic areas HLA type Indications Targets HLA-A02:01 HLA-A02:01 HLA-B07:02 HLA-A02:01 HLA-A*01:01 TSC-101 (HA-2) HEMATOLOGIC MALIGNANCIES SOLID TUMORS AML, MDS NSCLC, Sarcoma, Head & Neck, Cervical, Anal & Genital Autoimmunity
IND-enabling Phase 1 Pivotal HLA-A*03:01 ALLOHATM PLEXI-TTM Target-directed therapeutics Engineered TCR-T cell therapies Pivotal launch Q2 2026 Crohn's Systemic sclerosis Ulcerative colitis Ankylosing spondylitis Birdshot uveitis TSC-102 (CD45)
HPV16 MAGE-C2 MAGE-A4 PRAME MAGE-A1 Discovery/Preclinical In vivo-engineered TCR-Ts HLA-A01:01 HLA-A24:02
2026 will be a transformational year
for TScan Aligned on final pivotal design for TSC-101 Two-year relapse data from initial TSC-101 patients Heme Program File two INDs for TSC-102 (A03:01 and A01:01) in Q1 Opened expansion cohorts at DL3 Auto-immunity Identified novel autoantigens
Presented preclinical data for lead programs Clinical and preclinical data on solid tumor program H1 Solid Tumor Program First patients treated with multiplex TCR-T therapy Dose escalation completed for singleplex TCR-T tx 2026 2025 Proof-of-concept
for therapeutic approach Launch pivotal trial for TSC-101 in Q2
Heme Malignancies: Targeting residual
disease to prevent relapse in patients undergoing allogeneic HCT
TScan is working to treat residual
disease and prevent relapse in heme malignancies Current Standard of Care Unmet Medical Need TScan Approach Allogeneic hematopoietic cell transplant (Allo-HCT) is the only potential cure for patients with AML and MDS 38-44% of patients relapse
within two years following Allo-HCT with reduced intensity conditioning (RIC)* TCR-T cell therapy targeting antigens on patient cells, but not donor cells, to prevent relapse after transplant TSC-101 is a TCR-T cell therapy designed to eliminate
residual cancer and prevent relapse following Allo-HCT in HLA-A*02:01-positive patients * CIBMTR analysis of AML, ALL, MDS allogeneic transplants with reduced intensity conditioning (RIC) between 2017-2019 with 2-year follow-up
TSC-101 is a TCR-T cell therapy
designed to eliminate residual cancer and prevent relapse following Allo-HCT TSC-101 PATIENT TSC-101 DONOR Hematopoietic cell transplant Cancer cell Normal blood cell Stem cell T cell HA-2 positive HA-2 negative HA-2 negative HA-2 positive TSC-101
Residual cancer Stem cells TCR-T cell infusion T-cell HA-2 TCR TSC-101 Collection for standard of care transplant TScan TCR-T manufacturing
ALLOHA , a multi-arm Phase 1
trial for TSC-101 in subjects with AML, ALL, and MDS (NCT05473910) HCT Pre-transplant screening Endpoint and safety monitoring RIC Day 0 Day +21 Day +61 Donor screening Manufacturing apheresis HCT apheresis TSC-101 Infusion 1 TSC-101 Infusion 2
Subject screening Control Arm Transplant alone Treatment Arm Transplant + TSC-101 Key eligibility criteria Age >18 years Undergoing first allo-HCT for ALL, AML, MDS Subject positive for HA-2 with a haploidentical HA-2 negative donor Eligible for
RIC-HCT followed by PTCy for GvHD prophylaxis Key endpoints Safety: Dose limiting toxicities, adverse events Efficacy Exploratory endpoints: Donor chimerism, minimal residual disease ALL, acute lymphoblastic leukemia; AML, acute myeloid leukemia;
MDS, myelodysplastic syndromes; GvHD, graft vs host disease; RIC-HCT, reduced intensity conditioning hematopoietic cell transplantation
Patients in both the treatment and
control arms are at high risk for relapse TSC-101 Control Enrolled Subjects 23 19 Evaluable Subjects* 19 (100%) 18 (100%) Median Time from HCT, months 13.4 (4-33) 16.1 (1-36) Age, Median (Range) 65 (52-74) 66 (23-77) Sex, Male %)
13 (68%) 9 (50%) Underlying Disease ALL 2 (11%) 1 (6%) AML 13 (68%) 11 (61%) MDS 4 (21%) 6 (33%) Genetics/ cytogenetics TP53 mutated 6 (32%) 2 (11%) Adverse Risk** 13 (68%) 11 (61%) Pre-HCT MRD Positive
13 (68%) 8 (44%) MRD positive or adverse risk genetics 15 (79%) 13 (72%) Clinical Status at time of HCT CR1 9 (47%) 12 (67%) CR2 2 (11%) 1 (6%) MLFS 5 (27%) 0 (0%) Hematologic improvement 1 (5%) 0 (0%) PR 1 (5%) 1 (6%) Untreated 1 (5%) 1 (6%) Other
status 0 (0%) 3 (17%) Sept 19, 2025 data cut; Al-Malki et al, abstract ID 2391, presented at ASH Annual Meeting December 2025; *Subjects on the treatment arm who received 1 infusion of TSC-101 and on the control arm who reached Day 21;
**Adverse risk is defined as having either an IPSS-M mutation (MDS) or ELN high risk genetics or cytogenetics (AML)
TSC-101 is well tolerated with no
dose-limiting toxicity TSC-101 n=19 Control n=18 Treatment-emergent aGvHD (MAGIC) 12 (63%) 10 (56%) Grade I 8 (42%) 5
(28%) Grade II 3 (16%) 4 (22%) Grade III 1 (5%) 1 (6%) Grade IV 0 (0%) 0 (0%) Any Treatment-emergent cGvHD (NIH) 1 (5%) 2 (11%) Mild
1 (5%) 1 (6%) Moderate 0 (0%) 1 (6%) Severe 0 (0%) 0 (0%) Any CRS 14 (74%) 7 (39%)
Grade 1 - 2 14 (74%) 6 (33%) Grade 3 - 4 0 (0%) 1 (6%) Treatment-emergent CRS 3 (16%) 0 (0%)
Grade 1 - 2 3 (16%) 0 (0%) Grade 3 - 4 0 (0%) 0 (0%) Any ICANS 1 (5%) 0 (0%) No DLTs reported No moderate
or severe chronic GvHD (cGVHD) with TSC-101 One case of mild cGVHD seen in both arms Three cases of CRS reported after TSC-101 infusions Two Grade 1 events and one Grade 2 event; all resolved One case of ICANS reported after a TSC-101 infusion
Depressed consciousness (Grade 2) reported following infusion #2 in a patient with relapsing disease. Treated with tocilizumab and steroids; resolved within 24 hours Sept 19, 2025 data cut; Al-Malki et al, abstract ID 2391, presented at ASH
Annual Meeting December 2025; GvHD = graft-versus-host disease; ICANS = Immune Effector Cell Associated Neurotoxicity Syndrome; CRS = Cytokine Release Syndrome
Use of TSC-101 shows fewer
relapses, more durable remissions, and longer survival MDS MDS MDS AML AML AML AML AML AML MDS MDS AML Control-1 Control-2 Control-3 Control-7 Control-8 Control-5 Control-4 Control-6 Control-9 Control-10 Control-11 Control-12 Control-13 AML AML
Control-14 AML Control-15 ALL Control-16 Control-17 Control-18 MDS ALL Arm B-ALL B-ALL MDS MDS AML AML AML AML AML MDS TSC-101 DL 1 TSC-101 DL2s TSC-101 DL2 TSC-101 DL3s TSC-101 DL3 TSC-101 DL3 TSC-101 DL3 TSC-101 DL3 TSC-101 DL3
TSC-101 DL3 TSC-101 DL3 TSC-101 DL3 Disease AML AML TSC-101 DL3 MDS TSC-101 DL3/4 AML TSC-101 DL4 TSC-101 DL3/4 TSC-101 DL4 AML AML AML TSC-101 DL4 MDS TSC-101 DL4 AML 2 years 1 year 6 months X X X X X X X X Days post-HCT Dose did not meet
target dose criteria in supplemental cohorts MRD-positive MRD-negative MRD pending TSC-101 infusion Clinical intervention for concern for relapse Ongoing follow-up Death from relapse Death unrelated to relapse or TSC Relapse X X p53mut p53mut p53mut
p53mut p53mut p53mut p53mut p53mut Hazard Ratio p value Probability of relapse 0.46 0.22 RFS 0.50 0.23 OS 0.61 0.52 Sept 19, 2025 data cut; Al-Malki et al, abstract ID 2391, presented at ASH Annual Meeting December 2025; MRD measured by flow
cytometry (lower limit of detection 0.1-1%) or NGS (lower limit of detection 0.05-0.1% in myeloid and 0.001-0.01% in lymphoid malignancies) Pre-HCT MRD 3 of 3 (100%) TSC-101 subjects remain relapse-free at 2 years 1 of 4 (25%) Control subjects
remain relapse-free at 2 years
TSC-101 continues to show strong
activity by chimerism assays DL1 DL2s DL2 DL3s DL3 DL3 DL3 DL3 DL3 DL3 DL3 DL3 DL3 DL3/4 DL4 DL3/4 DL4 DL4 DL4 C1 C2 C3 C4 C5 C6 C7 C8 C9 C10 C11 C12 C13 C14 C15 C16 MDS AML B-ALL B-ALL MDS AML AML MDS AML AML AML AML MDS AML AML AML
AML MDS AML MDS MDS MDS AML AML AML AML AML AML MDS MDS AML AML AML AML ALL Day 21/28 Day 42 Day 56 Day 77 Day 105 Day 133 Day 161 Day 228 Day 318 Day 388 2 year Control-arm subjects TSC-101 Treatment-arm subjects Time post HCT# X X X X X TSC-101
Infusion Complete donor chimerism Mixed donor chimerism Clinical intervention for increasing mixed chimerism Relapse Death from relapse X Death unrelated to relapse or TSC X X X X Data as of Sept 19, 2025; #Donor chimerism results using
investigational NGS assay (Alloheme) with LOD of 0.2% or the short tandem repeat (STR) with LOD of 1-2% at indicated times post-HCT 3 days in patients at least 60 days post-HCT as of data cut; Dose did not meet target dose criteria in
supplemental cohorts
TSC-101 infusion post-relapse
converted subject to complete donor chimerism and complete remission Recipient chimerism (%) 74-year-old male with AML in CR1 received 2 infusions of TSC-101 per DL3 2nd infusion was delayed by 36 days due to treatment of aGvHD At time of relapse,
received 370 M cells without lymphodepletion or additional chemotherapy No evidence of disease at next evaluation and remained in complete remission for 5 months Days post 1st infusion Infusion #2 Infusion #1 Infusion #3 Recipient chimerism measured
in CD33 compartment; Sept 19, 2025 data cut; Al-Malki et al, abstract ID 2391, presented at ASH Annual Meeting December 2025 Relapse Complete remission
Recently updated ALLOHA
Phase 1 data support launch of pivotal trial in Q2 2026 Infusions with TSC-101 were well-tolerated with no DLTs and adverse events following HCT + TSC-101 were consistent with HCT alone Durable responses with 100% (3/3) of patients 2-years post-HCT
showing detectable TSC-101 cells and no evidence of disease Attractive safety profile Long-term persistence Meaningful relapse-free benefit *Sept 19, 2025 data cut; Al-Malki et al, abstract ID 2391, presented at ASH Annual Meeting December 2025;
RFS: relapse-free survival; OS: overall survival Favorable relapse-free survival (HR=0.50; p=0.23) and overall survival (HR=0.61; p=0.52)
Heme Development Strategy Targeting
residual disease to prevent relapse in patients undergoing allogeneic HCT
Pivotal trial design for TSC-101
uses a biologically-assigned control arm to support relapse-free survival as the primary endpoint Biological assignment Company has reached agreement with the FDA to use a pivotal trial design that mirrors the ALLOHA Phase 1 trial
(NCT05473910) All patients that are eligible for TSC-101 will be assigned to the investigational arm Two infusions of TSC-101 RIC-based transplant Follow up Study Population AML or MDS Age > 18 years Undergoing first allo-HCT Eligible for reduced
intensity conditioning (RIC) Key Endpoints Primary Endpoint: RFS Key Secondary Endpoint: OS AML: Acute myeloid leukemia; MDS: Myelodysplastic syndromes; Allo-HCT: Allogeneic hematopoietic cell transplantation; RIC: Reduced intensity conditioning;
RFS: Relapse-free survival; OS: Overall survival Investigational Arm A02:01-positive subject with A02-negative donor Control Arm A02:01-negative subject or A02:01-positive subject with no available mismatched donor
Commercial opportunity: Clear unmet
need with concentrated market and a broad range of expansion opportunities
TCR-T cells engineered from healthy
donor T cells, resulting in more consistent product Allogeneic therapy allows for manufacturing to be completed prior to ideal infusion time Global CDMO engaged for scaled-up manufacturing; initial tech transfer completed TSC-101 is used with
current SOC transplant; limited practice change required Transplantation occurs in concentrated treatment centers, simplifying patient identification HLA-defined patient eligibility through standard testing TSC-101 is a first-in-class TCR-T therapy
with an exciting commercial opportunity Streamlined Commercial Operations Commercial-Ready Manufacturing Strong Value Proposition: TSC-101 has positive early efficacy & safety data, addressing a major unmet need in the post-transplant setting