IPA: Talem® Therapeutics: Therapeutic Antibody Pipeline For Out-Licensing and Partnering

ImmunoPrecise Antibodies - Innovation Accelerated
IPA: Talem® Therapeutics

Therapeutic Antibody Pipeline for Out-Licensing and Partnering
IPA | © 2022
Disclosures
Disclaimer
This presentation is not, & nothing in it should be construed as, an offer, invitation or recommendation in respect of ImmunoPrecise Antibodies Ltd. (the “Company”) securities,
or an offer, invitation or recommendation to sell, or solicitation of an offer to buy, the facilities or of the Company’s securities in any jurisdiction. Neither this presentation nor
anything in it shall form the basis of any contract or commitment. This presentation is not intended to be relied upon as advice to investors or potential investors & does not
take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of

their choosing when deciding if an investment is appropriate. The Company has prepared this presentation based on information available to it, including information derived
from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness,
completeness or reliability of the information, opinions or conclusions expressed herein. These projections should not be considered a representation of the Company’s
potential cash generation performance in any way.
Forward Looking Statements

This presentation includes forward-looking statements, including future-oriented financial information (“FOFI”). Forward-looking statements can generally be identified by the
use of language such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe”, “potential” & “continue” or the negative thereof or similar variations. Forward-looking
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the Company or persons acting on its behalf apply only as of the date of this document & are expressly qualified in their entirety by the cautionary statements included in this
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underlying the projections may be inaccurate in any material respect, including, but not limited to, those risks set forth in the Company’s recent Management Discussion &
Analysis, a copy of which may be obtained from SEDAR.com. The purpose of FOFI provided in this presentation is to provide prospective investors with information pertaining
to the Company’s long-term business objectives. Readers are cautioned that this information may not be appropriate for other purposes.
IPA | © 2022
Talem Therapeutics
At-a-Glance
Talem® Therapeutics Pipeline

The future of biotherapeutics > 11 Preclinical Ab Programs
> 2 IND-Enabling Ab Programs
A wholly owned subsidiary of IPA is focused on the
discovery and development of next-generation

antibody therapeutics from Target Validation through
IND-Readiness.
Indications
Immuno-oncology, Oncology, Autoimmune,
SARS-CoV-2, Infectious Disease, Heart
Disease, Inflammation, Neuro-related
Create, Advance, and Partner IPA (ImmunoPrecise Antibodies)
Disorders, Rare/Neglected Disease
on-demand and in-house antibodies Turning antibody research into clinical reality
for out-licensing and co-development Experience
A multinational Contract Research Organization which Over 30+ years with thousands of completed
offers a continuum of services in therapeutic antibody antibody programs
discovery, selection, engineering, and manufacturing. > Monoclonal antibodies
IPA transforms traditional multi-vendor outsourcing, > Bispecifics / multi-specifics
while decreasing turnaround time and risk, and > Multi-Antibody Cocktails
promoting clinical success.
Locations
• CRO Partner of Choice >500 Clients Worldwide
> Europe
• Clients include 70% of top 20 pharma
> USA
> Canada
3
IPA | © 2022
IPA + Talem
END-TO-END
CRO
A Hub of Biotherapeutic

Intelligence
• A hybrid of experts in the science and the
business of bioplatform discovery.
• Engineered for the race and the shared pursuit
of clinical success.
TALEM
Leverage direct access to IPA’s proprietary antibody discovery platforms and innovative
technologies to rapidly discover & develop products and with greater chances of success
4
IPA | © 2022
Talem Therapeutics
Pipeline of Innovative
Antibody Therapeutics
IPA | © 2022
About TATX-112
TrkB Antibodies for Oncology and Neuro-related Disorders
www.talemtherapeutics.com
IPA | © 2022
TATX-112
TrkB Antibody Therapies for Oncology and Neuro-related Disorders
• Oncology: Ligand (BDNF) binding to the receptor TrkB (Target) stimulates intracellular signaling cascade that increases cancer cell growth, survival, invasiveness,
metastatic behavior, and suppress chemotherapeutic sensitivity of the tumor cells. Therefore, TrkB signaling interference by TATX-112 antibodies is anticipated to be
an attractive approach to induce tumor suppression.
• Neuro-related disorders: TrkB stimulation plays a vital role in the nervous system by enhancing neuronal development, protection, and function. Evidence of reduced
and impaired TrkB signaling has been observed in neuro-related disorders. Stimulation of TrkB signaling by TATX-112 agonistic antibodies is an appealing therapeutic
approach to enhance neuronal function with an expectedly higher safety profile than less-specific small molecules.

Mechanism of Action – ADC / Oncology Mechanism of Action – Neuro-related Disorders
TrkB Structure
Ultsch et al., J.Mol.Bio. (1999)
Lead Antibody (TATX-112) Target Cells MoAs Indication
> Human/cyno/mouse cross-reactive candidates > Tumor cell > Non-activating binding > Oncology
• Cyno ECD 100% homologous to human > Astrocyte > Receptor internalization (ADCs) > Neuro-related disorders
> Recombinant human and human-chicken chimeric antibodies > Neuron > Antagonism • Alzheimer’s, 7
• Reactivity of human antibodies verified in scFv format as well, > Agonism • Auditory Systems
facilitating incorporation in bi-/multi-specific platforms • Ophthalmology
IPA | © 2022
TATX-112
Mechanism of Action – ADC & Oncology

Expression: TrkB has been found to be highly up-regulated and expressed in various cancers (i.e. Lung, Colon-Rectal, Prostate, Breast, Liver, Myelomas, and
Lymphoid tumors) compared to normal tissue.
TATX-112 Abs: TATX-112 antibodies specifically blocking the interaction between TrkB and its ligand (e.g. functionally interfere with TrkB biology) are anticipated to
significantly improve specificity of tumor therapy compared to currently available small molecule therapeutics.
> In addition, due to high TrkB expression levels in various tumors, while its expression in normal tissue is limited, non-functionally interfering antibodies are
8
potentially powerful candidates for ADC-based treatment, in case binding of antibody results in internalization, or bispecific-based cancer immunotherapies.
IPA | © 2022
TATX-112
Mechanism of Action – Neuro-related Disorders

Expression: TrkB and BDNF are widely distributed in multiple regions of the human brain and nervous system. TrkB intracellular signaling is critical for the
survival, protection, development, and function of several subtypes of neurons in the nervous system.
> Reduced or impaired intracellular signaling leads to various neuro-related disorders (e.g. Alzheimer’s, ALS, Auditory, and Ophthalmological diseases).
TATX-112 Agonist: TrkB binding by TATX-112 agonist antibody is anticipated to suppress disease progression by promoting intracellular signaling cascade
resulting in cell proliferation, differentiation, and survival.
> Such therapeutic approach requires blood-brain-barrier passage which can be facilitated by a bi- or multi-specific antibody format, including an antibody 9
fragment that induces transport over the BBB upon binding.
IPA | © 2022
TATX-112
TrkB Expression Profiles
TrkB Expression in Normal Tissue Samples** TrkB – Top 10 Associated Oncological Diseases*

• In healthy mammalian tissue, TrkB is expressed in central and peripheral nervous system, lung, breast, kidneys, pancreas. It is also highly
expressed in fetal brain and during early development of retina.
• TrkB isoforms are expressed in heart, spleen and in ovaries.
• TrkB overexpression is implicated in breast, lung, colon-rectum, pancreas, prostate, liver, myelomas, and lymphoid tumors.
10
*Source: My Cancer Genome \ Biomarkers \ NTRK2
**Source: Protein Atlas \ NTRK2
IPA | © 2022
TATX-112
Antibody Discovery and Analysis
Phylogenetic Tree
Antibody Discovery
• B cell Select® - single chicken B-cell discovery

• DeepDisplay™ - in-house human phage display library (scFv) selection
• Expression of human/cyno and mouse TrkB recombinant proteins

• Human/cyno and mouse TrkB cell line preparation
• Chicken immunization and B-cell selection

• Selection of B cells producing human TrkB-specific antibodies
• Recombinant expression as chicken-human chimera
• Preparation of human patient and naïve phage libraries
• Library screening and selection of human/cyno/mouse TrkB binders
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IPA | © 2022
TATX-112
Specificity Validation
Binding Profile of hTATX-112 Antibody Expression of recombinant antibodies

• Chicken: 20+ sequence unique V-domain pairs
• ~60% human/cyno/mouse cross-reactive
candidates
• no pan-Trk reactivity
• Human: 50+ sequence unique V-domain pairs
• ~60% human/cyno/mouse cross-reactive
candidates
• no pan-Trk reactivity
No reactivity against receptor family members (TrkA and TrkC). Reactivity towards cell-
associated TrkB confirmed by Flow Cytometry.
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IPA | © 2022
TATX-112
Antibody pool overview
TATX-112 Antibody Pool Epitope Heat Map

Antibody #

Antibody #
13
• Epitope landscape profiling identified 7 bins, including 2 dominant bins (Bin #1 and Bin #2)
IPA | © 2022
TATX-112
Competition Analysis
Example: TrkB binding competition analysis of TrkB mAbs vs BDNF
Step ssoc at o

Non-competitors
HIS1k Sensor 0.8 BDNF competitor
20 µg/mL TrkB-His 0.6

nm
30 µg/mL mAb
0.4
30 µg/mL mAb
+ 50nM BDNF 0.2
Negative control
0
-20 0 20 40 60 80 100 120 140 160 180 200 220 240 260 280 300 320 340 360 380 400 420 440
Time (s)
TrkB-loading TrkB mAb loading BDNF loading
Processed data of BLI sensorgram of pre-wetted HIS1K biosensors immobilized with 20 µg/mL TrkB-HIS or no protein are displayed, followed by association of 30 µg/mL TrkB mAbs or sample buffer (negative control) and subsequent association of 30
µg/mL mAb + 50 nM BDNF or 50 nM BDNF (negative control). To determine potential of TrkB mAbs to block/compete with BDNF binding to TrkB an Octet-based competition was setup. To this end, HIS1k sensors were loaded with TrkB-His, followed by
addition of TrkB mAb and subsequent addition of BDNF in mix with TrkB mAbs. Any BDNF competitor should (partially) block BDNF-induced increase in Octet signal in this final step.
• Example sensorgram show that out of 7 tested TrkB mAbs, one antibody fully blocks BDNF binding to TrkB, as revealed by lack of increase in
Octet signal after BDNF loading. 14
IPA | © 2022
TATX-112
TrkB Activation
Human Phage Library
( 1A mAbs
Bin p g y) Bin 1b mAbs Bin 3, Bin 5 mAbs
250 250
Luminescence (% of BDNF)
200 200
150 150

100 100
50 50
0 0
10 -4 10 -3 10 -2 10 -1 10 0 10 1 10 2 10 -4 10 -3 10 -2 10 -1 10 0 10 1 10 2
[antibody] (µg/ml) [antibody] (µg/ml)
Chicken B cell Select®

Bin 2A mAbs Bin 2b mAbs Bin 4, Bin 6 mAbs
250 250 250
200 200 200
150 150 150
100 100 100
50 50 50
0 0 0
10 -4 10 -3 10 -2 10 -1 10 0 10 1 10 2 10 -4 10 -3 10 -2 10 -1 10 0 10 1 10 2 10 -4 10 -3 10 -2 10 -1 10 0 10 1 10 2
[antibody] (µg/ml) [antibody] (µg/ml) [antibody] (µg/ml)
• All TrkB antibodies show TrkB activation potential to some degree in a reporter cell line
• In general, human phage library clones show higher maximum activation potential versus chicken B cell Select® 15
clones, whereas chicken B cell Select ® clones show more sustained TrkB activation
IPA | © 2022
TATX-112
Program Development Residual Cell Surface Receptor Determination
Lead Selection – Functional Screening

• Internalization screening identified multiple human and chicken lead Abs
• Fluorescent internalization assays
• Evaluation of phosphorylation of down-stream signaling molecules to

discriminate agonistic and antagonistic lead candidates
• Preliminary data suggest the presence of activating and non-activating
antibodies in our pool
Next Steps
• Proof of concept studies
• Optimization and manufacturing of human lead candidates TATX-112 Internalization Histograms*
• Humanization/optimization and manufacturing of chicken lead candidates
Alternative Therapeutic Approaches:

• Bispecific
Objective:
• Out-License to partner, various models available
• Co-develop TATX-112 with partner
Press Release: *Represents selected receptor internalizing and non-internalizing TATX-112 antibodies. A549 cells incubated with internalizor show lower
TrkB expression when incubated at 37°C, whereas this is not observed for the non-internalizor, providing evidence for internalization
• “ImmunoPrecise Launches TATX-112 Candidate Antibody Program, for the Treatment potential of internalizor TrkB TATX-112 mAb.
Parameters: A549 cells were incubated with a potential internalizing and non-internalizing Trkb mAb at 4°C (non internalizing conditions) or
of Cancer and Alzheimer’s Disease” [Link] 37°C (internalizing conditions) after which remaining membrane-expressed TrkB expression was analyzed by labeling cells with anti-human-
PE antibodies which detect TrkB mAb bound to TrkB. Histogram overlays show isotype control in gray and TrkB expression in red. 16
IPA | © 2022
About TATX-21
ALK1 Antibodies for Cardiovascular Disease
IPA | © 2022
TATX-21
ALK1 Antibody Therapy for Cardiovascular Disease
• ALK1 (Target) is a receptor that is predominantly expressed on arterial endothelial cells.
• Atherosclerosis cardiovascular disease (ACVD) is the leading cause of death worldwide and triggered by retention and build-up of LDL in the arterial
walls resulting in obstruction of blood flow. Recent studies have shown that ALK1 on endothelial cells binds directly to LDL and is associated with the
formation of atherosclerotic plaques. Therefore, blocking LDL binding to ALK1 by TATX-21 antibodies is an attractive therapeutic approach.

Mechanism of Action in Atherosclerosis Cardiovascular Disease
Accumulation of cholesterol in the vessel wall and resulting atherosclerosis Intended function of TATX-21 antibodies: blockade of ALK1-mediated LDL uptake
plaque formation following ALK1-mediated LDL update thereby reducing cholesterol accumulation in the vessel wall and subsequent
atherosclerosis plaque formation
> Human/Mouse Cross-reactive candidates > Endothelial cells > Blocker > Cardiovascular Disease
> Blockade of LDL transcytosis • ACVD 18
IPA | © 2022
TATX-21
Mechanism of Action – Blockade of LDL Transcytosis

• TATX-21 Abs: TATX-21 antibodies blocking the interaction between ALK1 (Target) and LDL are anticipated to prevent ALK1-mediated LDL transcytosis,
therefore reducing cholesterol accumulation in the vessel wall and subsequent atherosclerosis plaque formation and disease progression. 19
IPA | © 2022
TATX-21
Phylogenetic Tree of TATX-21 Antibody Lead Pool
Program Development Cross-reactive to human

ALK-1 and Murine ALK-1
Human ALK-1
Antibody Discovery Cross-reactive to human

ALK-1, murine ALK-1, and
• Discovery Platform: human ALK-2
• B cell Select® - single B cell discovery

• Alternating immunization of rabbits with recombinant human and mouse
protein

• Recombinant expression as rabbit-human chimera
• Diversified pool of both human/mouse-target cross-reactive clones and
Monoclonal ELISA screening
human-target recognizing clones as revealed by ELISA and flow cytometry
Abs (450nm)
Next Steps
• Functional screening of 25 prioritized, sequence-unique, clones
• Blockade of LDL uptake by endothelial cell assay (on-going)
• Humanization of rabbit lead antibodies
• Selection of clinically relevant animal model for in vivo efficacy evaluation Antibody concentration (ug/ml) Antibody concentration (ug/ml)
• Full molecular optimization of lead candidate(s)

Monoclonal flow cytometry screening
Potential Alternative Indications:
• Solid Tumors
• Diabetic Retinopathy
MFI
Objective:
• Co-develop TATX-21 with partner Antibody concentration (ug/ml) Antibody concentration (ug/ml)
20
Binding profiles of TATX-21 antibodies recognizing human target only (Right panel) and human/mouse target cross-
reactive antibodies (left panel) towards recombinant soluble protein (upper panel) and cell-associated target (lower panel)
IPA | © 2022
About TATX-114
TATX-114 Antibodies for Oncology, Inflammatory, and Autoimmune Diseases
IPA | © 2022
TATX-114
TATX-114 Antibodies for Oncology, AID, and Inflammatory Diseases
• The Target (TATX-114R) is involved in the development and differentiation of B-cells in plasma cells and expressed on cell surface of B-lymphocytes
from pro B-cells to memory B-cell with progressively increasing expression level.
• TATX-114 antibodies have several potential mechanisms of action and are anticipated to act mainly through immune-mediated mechanisms (CDC,
ADCC, ADCP)

TATX-114 Mechanism of Action
> Binders to cell-associated target, including > B-cell > CDC > Oncology
endogenous expressor > ADCC > Autoimmune Disease 22
• Mouse derived antibodies > ADCP > Inflammation
IPA | © 2022
TATX-114
Program Development
Antibody Discovery
• Human TATX-114R cell-line preparation
• Immunization of mice with cells and fusion

Reactivity towards Target Expressing Cells

• Utilizing IPA’s proprietary ModiVacc® immunization technology
• Screening and selection of human-specific candidates
ModiVacc Parental
• Sequencing and recombinant production of ModiVacc TATX-114R+

Daudi
chimeric (human-mouse) antibodies (Endogenous Expressor)
• Flow cytometry-based reactivity screening

including endogenous expressor
• 6 sequence unique V-domain pairs
Next Steps
• Affinity benchmarking to select final leads
• Humanization of mouse lead antibodies Example of purified TATX-114 antibody and its reactivity towards TATX-114-expressing cell lines and parental cell line.
ModiVacc™ is a proprietary immunization cell line.
Objective:
23
IPA | © 2022
About TATX-116
TATX-116 Antibodies for Oncology
IPA | © 2022
TATX-116
TATX-116 Antibody Therapy for Solid Tumors
• The Target (TATX-116R) is a receptor selectively upregulated and highly expressed on tumor infiltrating regulatory T cells (TITRs) across multiple solid tumor types, and minimally
expressed on Tregs in PBMCs and normal tissue-resident Tregs. Presence of TATX-116R+ Tregs have been associated with poor prognosis among various cancer types, indicating
TATX-116R is a favorable target immunotherapy.
• In the tumor microenvironment, stimulation of TATX-116R by its ligand (TATX-116L) promotes Treg proliferation and subsequent suppression of anti-tumor immunity resulting in
cancer growth and further disease progression.
• Therefore, functional blockade of TATX-116R+ TITRs by TATX-116 antagonist antibody, and TITRs depletion by TATX-116 antibody through antibody-dependent cellular cytotoxicity

(ADCC) are attractive therapeutic approaches to restore anti-tumor immunity and prolong patient survival.
Mechanism of Action: Suppression Mechanism of Action: ADCC
> Binders to cell-associated target (Mouse derived antibodies) > Tregs > Antagonistic > Solid Tumors
• Ligand interference assays on-going > TITRs > ADCC 25
IPA | © 2022
TATX-116
Program Development
Antibody Discovery
• Discovery Platform:
• DNA and cell immunization followed by hybridoma generation
• Successful sequencing of hybridomas showing binding to cell-associated target

• Recombinant production and purification of full-length chimeric (human-mouse) antibodies and
validation of binding to cell-associated target
• Ligand interference assays (on-going)
Next Steps
• Proof of concept studies including benchmarking to facilitate lead selection
• Humanization of mouse lead antibodies
Objective:
26
IPA | © 2022
Talem Discovery Programs
• TATX-20: TATX-20 Antibodies for Solid Tumors
• TATX-22: TATX-22 Antibodies for Oncology
• TATX-24: TATX-24 Antibodies for Oncology
IPA | © 2022
TATX-20
TATX-20 Antibodies for Solid Tumors
• TATX-20R (Target) is a membrane-bound, tumor-associated enzyme that is widely expressed in specialized cells within normal tissues. TATX-20R is found to be upregulated
in certain types of cancer, indicating TATX-20R is a favorable target for immunotherapy.
• In solid tumors, TATX-20R plays a critical role in tumor cell adaptation and survival and is significantly overexpressed under hypoxic and low pH stress conditions. Studies
have shown that TATX-20R promote tumor cell growth by counteracting acidosis through the regulation of intracellular pH. Interference with this pH regulation with
antibodies blocking the enzymatic activity is an attractive therapeutic approach to suppress tumor growth.
• TATX-20R is also involved in multiple drug resistance (MDR) of cancer cells via its interplay with the ABC transporter, P-glycoprotein (Pgp). Pgp actively transports drug

compounds out of the cell and it was shown that TATX-20R aids in this process by locally altering the pH. By inhibiting TATX-20R, also the activity of Pgp is diminished,
leading to lower efflux of drug compounds.
TATX-20R - Top Oncological Diseases TATX-20R in Normal Tissue Expression
> Monoclonal Analysis (On-going) > Tumor cells > Blocking (pH Restoration) > Solid Tumors
• >40 target reactive scFv identified > Overcome MDR > Pgp+ Tumors (MDR) 28
IPA | © 2022
TATX-20
Program Development
Monoclonal scFv ELISA Screening

Antibody Discovery
• Discovery Platform: Biotinylated huTATX-20R
• In-house human Phage Libraries Biotinylated hu-Receptor Member 1
• GeneGun and protein immunization of chickens

Biotinylated hu-Receptor Member 2
BSA

• Phage display screening of in-house human libraries against recombinant and
cell-expressed TATX-20R
• A pool of TATX-20R-specific binders was identified
• Sequencing and recombinant production of fully human IgG1 antibodies
Monoclonal scFv Flow Cytometry Screening
Next Steps huTATX-20R
• Binding validation of fully human IgG1 antibodies in ELISA and flow cytometry hu-Receptor Member 1
• Functional assays including TATX-20R activity inhibition studies, tumor hu-Receptor Member 2
hu-Receptor Member 3
migration studies and tumor growth inhibition studies
Alternative Therapeutic Approaches:

• Bispecific
Objective: Represents a few of the selected scFv which show reactivity with recombinant TATX-20R (upper panel) and cell-expressed TATX-20R
(lower panel). Over 40 hits were identified with specific reactivity towards recombinant and cell-expressed TATX-20R.
29
IPA | © 2022
TATX-22
• TATX-22R (Target) is overexpressed in tumor cells and tumor-associated macrophages (TAMS) in certain cancers. Expression of this protein in normal tissues
is limited.
• Solid Tumors: Studies have shown that overexpression of TATX-22R in cancer cells and/or presence of TATX-22R+ macrophages in specific cancers are
associated with poor prognosis. Therefore, targeting TATX-22R with antibodies is an attractive approach to inhibit tumor growth, increase tumor cell
apoptosis, and restore anti-tumor immunity.

• Acute Myeloid Leukemia: TATX-22R is expressed on myeloid lineage cells and frequently upregulated in AML; expressed on ~70% of the AML patient tumor
samples. Due to the high expression of TATX-22R in AML and limited expression in normal tissues, TATX-22-CAR therapy is an attractive approach for
selectively targeting TATX-22R+ AML as well as a potential therapeutic for chronic myelogenous leukemia (CML).
Mechanism of Action
> Monoclonal Analysis (On-going) > TAMS > CAR-T > ADCC > Solid Tumors
• >70 target reactive scFv identified > Tumor cell > ADC > ADCP > AML, CML 30
> CDC
IPA | © 2022
TATX-22 Phylogenetic trees of TATX-22 reactive scFvs
Program Development
Antibody Discovery CDR3-H VH

• In-house human (scFv) Phage Libraries using multi-panning approach
Monoclonal scFv ELISA Screening
• Phage display screening of in-house human libraries against recombinant and

cell-expressed TATX-22R Biotinylated huTATX-22R
Receptor Member 1
• Monoclonal reactivity screening identified >70 target reactive clones Receptor Member 2
BSA
• 34 unique scFv combinations
• Identified Abs which at least recognize cell-associated target
• Recombinant production of full-size human IgG1 antibodies of prioritized hits and
binding verification in ELISA and flow cytometry
Monoclonal scFv Flow Cytometry Screening

Next Steps huTATX-22R
• Functional Studies muTATX-22R
• Epitope binning (on-going) cyTATX-22R

Parental
• (Semi-)functional screening
• In vivo evaluation in xenograft model
Objective:
• Out-License to partner, various models available Represents a few of the selected scFv which show reactivity with recombinant TATX-2R to different extends (upper panel) and towards
• Co-develop TATX-22 with partner cell-expressed TATX-22R with cross-reactivity towards cell-expressed mouse or cyno TATX-22R (lower panel). Of note: clone TATX-22d
Ab was obtained from a cell-panning strategy, which might explain why this clone is not reactive with recombinant huTATX-22R. Over
70 hits were identified with reactivity towards cell-expressed TATX-22R and with varying extends to recombinant TATX-22R and cell-
expressed mouse or cyno TATX-22R. 31
IPA | © 2022
TATX-24
• TATX-24 is a diverse panel of human phage-derived antibodies being investigated as a bispecific for the treatment of
immuno-oncological diseases through T-cell activation facilitating tumor cell destruction.
• IPA is developing an TATX-24 antibody to be combined with partner’s antibody (e.g. TAA antibody) for bispecific

therapeutic approach against Target cells.
Potential Mechanism of Action
> Monoclonal Analysis & Recomb. Expression > T cells > T-cell activation facilitating > Immuno-Oncology
• >39 target reactive scFv identified tumor cell destruction (bsAb) 32
IPA | © 2022
TATX-24
Program Development
Antibody Discovery
• In-house human (scFv) Phage Libraries

Monoclonal
Monoclonal scFv scFv Screening
screening
• Phage display screening of in-house human and patient libraries against
CD3 d/e Subunit 1
TATX-24R
recombinant and cell-expressed TATX-24R 80000
TATX-24R
CD3 g/e Subunit 2
• Monoclonal reactivity screening and sequence analysis identified 60000 Parental
Parental
39 sequence-unique hits specifically directed against preferred target subunit (1)
40000
MFI
• Recombinant production of human IgG1 Fab antibodies of prioritized hits and
binding verification in ELISA and flow cytometry 20000
0
TATX-24a TATX-24b TATX-24c TATX-24d TATX-24e
Next Steps Represents a few of the selected scFv which show specific reactivity with cell-expressed TATX-24R subunits 1/2. In total, 39 sequence
• Functional and affinity benchmarking to prioritize Fab antibodies for further unique hits were identified with specific binding reactivities towards TATX-24R subunits 1/2.
functional evaluation in bispecific format
Objective:
33
IPA | © 2022
TATX-03: PolyTope®
Multi-Antibody Cocktails (MACs) against SARS-CoV-2 and Variants of Concern (VOC)
IPA | © 2022
PolyTope® - Overview
MACs Against SARS-CoV-2 and VOC
PolyTope®

• Multi-antibody (Ab) cocktails (MACs) that consist of
either 4-Abs (TATX-03b) or 5-Abs (TATX-03c).
• TATX-03b (4-Ab MAC) has been selected for
clinical development.
• TATX-03c (5-Ab MAC) shown to illustrate
‘plug-and-play’ for future formulations.
• Each polytopic cocktail is rationally designed to
provide enhanced, resilient protection by
simultaneously targeting multiple epitopes on the
spike trimer, thereby engaging multiple mechanisms
of action and reducing mutagenic escape risk.
35
ᵅ Preclinical in vivo efficacy Syrian hamster model. ᵇ Tested against pseudotyped virus
ᶜ Reduced lung viral titers to undetectable levels in (13/15) animals.. ᵈ Roodink, et al.
bioRxiv, Jul 2021.*22-D9 Antibody only included in TATX-03c.
IPA | © 2022
PolyTope®: Fully Human Multi-Ab Cocktails (MACs)
Synergistic MACs with Broad Epitope Coverage
PolyTope® Ab Epitope Coverage Multi-Ab Tandem Binning

Spike Trimer
Multiple antibodies from non-overlapping bins (2, 4, C, and S2) can saturate the spike and not interfere with one another
• Selected TATX-03 antibodies can co-exist at saturating levels on the spike trimer, targeting non-overlapping epitopes
• Inclusion of antibodies that cover a diversified number of epitopes across the spike protein:
• Lead nomination not limited to potently neutralizing antibodies, 36
• Allows for synergistic combinations of antibodies with alternative mechanisms of action
IPA | © 2022
PolyTope® Virus Neutralization Screening: VOCs
Pseudovirus Neutralization Studies
PolyTope® MACs vs Clinical Benchmark
TATX-03b Pseudovirus Neutralization TATX-03c Pseudovirus Neutralization

Clinical Benchmark (2 Ab Cocktail) Clinical Benchmark (2 Ab Cocktail)
Pseudovirus neutralization potency of TATX-03b and TATX-03c MACs against SARS-CoV-2 and variants of concern (Wuhan-1, Alpha, Beta, Delta, and Omicron) compared to Clinical Benchmark 2-Ab cocktail (Wuhan-1 and Omicron). Benchmark was created in-house from publicly
available information. TATX-03b and TATX-03c retained neutralization efficacy against all VOCs, live virus neutralization confirmed against D614G (data not shown). Additional data available upon request.
• TATX-03b and TATX-03c MACs maintained potent neutralization against all pseudovirus tested, including Omicron variant
• Synergy within the MACs allows for the inclusion of non-neutralizing clones less susceptible to escape by point mutations 37
• Emerging mutations are continuously screened to ensure full coverage against future variants
IPA | © 2022
PolyTope ® Analysis: VOCs
Tackling the Threat of an Ever-Evolving Virus
a. Reactivity of individual TATX-03 Abs b. Pseudovirus Neutralization of TATX-03

a) Heat map summarizing the complementary vulnerabilities of individual antibodies of the TATX-03 MACs to cell-associated spike trimers (Wuhan-1, D614G, Alpha, Beta, Gamma, Epsilon, Iota, Mu, Lambda, Delta and Omicron variants)
b) Overview of TATX-03b and TATX-03c pseudovirus neutralization screenings towards SARS-CoV-2 and variants of concern (Wuhan-1, Alpha, Beta, Delta, Omicron). Green checkmarks indicate potent neutralization.
• Despite binding of some individual components is affected by mutations present in Alpha, Beta, Delta, & Omicron spike trimer variants,
our PolyTope® MACs retained potent neutralization in vitro.
• Synergy may add resiliency in reducing “escape-by-one” mutationsᵅ
• TATX-03b & TATX-03c MACs retained potent neutralization against all tested pseudotyped virus VOCs 38
ᵅ Roodink, et al. bioRxiv, Jul 2021.

IPA | © 2022
PolyTope® Preclinical In Vivo Efficacy Evaluation: TATX-03b & TATX-03c
Single dose evaluation in Syrian hamster model

Preclinical Study 1 End Point Data Preclinical Study 2 End Point Data
a) Preclinical in vivo efficacy schedule of TATX-03b and TATX-03c in Syrian hamster model for both Study 1 and Study 2. A 10e2 bolus of SARS-CoV-2 (D614G live virus) was administered on Day 0 with PolyTope® treatment administered +4 hours. Study endpoints taken at Day 4.
b) Preclinical Study 1 of TATX-03b (20mg/kg total, 5 mg/kg per Ab) and 3 individual antibodies of TATX-03b. Components showing potent neutralization in vitro (23-H7 and 21-F2) were evaluated at both low dose 5mg/kg and high dose 20 mg/kg, while 22-F7 was only
administered at 20 mg/kg. 2-A6 was confirmed to have no significant impact on viral load in SARS-CoV-2 challenged hamsters as single agent treatment (data not shown). PBS was administered as Mock control.
c) Preclinical Study 2 of TATX-03b and TATX-03c MACs against SARS-CoV-2 in Syrian hamster model evaluating efficacy compared to Mock (PBS). Endpoint data (day 4) for lung tissue viral titer, tracheitis severity score, and bronchitis severity score are displayed. Hamsters were
dosed with 20 mg/kg total MAC, representing 5mg/kg per Ab for TATX-03b (4 Abs total) and 4mg/kg per Ab for TATX-03c (5 Abs total)
• Reduced lung viral titers to undetectable levels in 9/10 animals (TATX-03b) and 4/5 animals (TATX-03c) 39
• Reduced severity of inflammation in main air conducting tissues
IPA | © 2022
Summary of PolyTope®
> Diverse Lead Antibody Pool
• Sequence heterogeneity
• Broad epitope coverage of SARS-CoV-2 spike protein
• ACE2 blockers and non-blockers
• Functional diversity

• Diversified library of back-up clones available for potential ‘plug-n-play’
> Rationally designed higher-order, synergistic MACs that:

• Potently neutralized SARS-CoV-2 in vitro
• Allow simultaneous targeting of several epitopes on the SARS-CoV-2 spike trimer
• Engage multiple mechanisms of action and unlock synergistic effects
• Reduce mutagenic escape potential
> All analyzed MACs retained potent neutralization against tested pseudotyped virus
• Alpha, Beta, Delta, Omicron variants
> US Patent and International Patent pending
> Scientifically-robust, efficacious and durable SARS-CoV-2 Ab cocktail therapies

> Safe: Designed to protect against mutagenic escape and to facilitate engagement of multiple mode of actions
> Extensive: Emphasis on efficacy for every patient, variant, and strain of SARS-CoV-2
> Efficient: Enormous possibilities to ‘plug-and-play’ for future formations
40
IPA | © 2022
Partner with Talem Therapeutics
Talem Advantage
• Experienced company with over 30+ years in Ab discovery/development
• Co-discovery and development from Target Discovery through IND-Readiness of
therapeutic antibodies utilizing IPA’s cutting-edge technology and antibody expertise

Ability for Partners to collaborate on individual or multiple programs
• Multiple formats (monoclonal, Bi-specifics and multi-specifics, ADC, CAR-T)
• Antibodies, Vaccines, and Neoantigens
• Indication and target agnostic
Strategic partnerships with pharmaceutical and biotechnology companies

• Co-Development of internal and partnered programs
• Antibody pipeline for out-licensing, various partnering models available
Learn more about Talem by visiting

www.talemtherapeutics.com 41
IPA | © 2022
Talem Therapeutics
Leveraging the Power of IPA Services for Antibody Discovery
IPA’s single-source, open-access biologics technology platform offers end-to-end solutions,

empowering partners to discover and develop biologics from concept to clinical lead.

Cutting-edge Discovery Technologies
• High throughput, deep mining of antibody repertoires
• Any target class, protein family, any species
• Excellence in single B cell interrogation, 10M immune cells per run, high success rates
Customized to optimize antibody diversity & support clinical success

• Unparalleled, integrated capabilities and expertise
• Enables selection of ideal, customized campaign
Extensive options for customizable products

• Eliminate need for additional vendors
Our scientific excellence and innovative technologies are a proven combination for success
• Partners can rely on our experience and high program success rates in custom phage display,
hybridoma, and B cell screening, selection and sequencing
• Thousands of programs completed: over 500 clients worldwide, includes 70% of top 20 pharma
42
IPA | © 2022
Immunization Discovery
Hybridoma

There is no ‘one-size-fits-all’ in science. Our empirical approach > Proprietary hybridoma-electrofusion technology
combines in-depth target analyses with decades of experience and > Semi-solid media fusion and clone picking
know-how. We design customized programs with proprietary > Ability to screen every clone generated from fusion
immunogens and immunization methods, computationally-matched
animal species and innovative discovery technologies to optimize the
probability for program success.
B cell Select®
Immunization methods > Proprietary B cell selection technology
> NonaVac® - proprietary DNA immunization technology > Maintains native heavy and light chain pairings
 Gene Gun; Tattooing; HTV > Applicable for all antigens including low-immunogenic or
difficult targets
> ModiVacc® - proprietary whole cell-immunization
> Rapid Prime® - proprietary, fast, multi-site injection methods, Phage Display
tolerance breaking > In-house human libraries and naïve llama libraries
> Classical standard immunization methods (scFv and VHH)
> DeepDisplay™ custom immune libraries
> Applicable for all antigens including low-immunogenic 43
or complex targets
IPA | © 2022
Lead Selection & Engineering
Characterization
Unique and innovative strategies Affinity Maturation & Humanization (LucinaTech®)

> Recombinant expression and purification of Robust and efficient antibody affinity and humanization service,
using state of the art in silico antibody modelling by our
hundreds of potential candidates in various formats Artemis® Intelligence Metadata (AIM)® capabilities
> CDR grafting technology and extended in-depth amino acid
> Multiple characterization steps to select lead candidates:
substitutions
 Purity and integrity analysis
> Maximum % of humanness
 Target reactivity and functionality studies > Improved reactivity towards natively-folded target protein
 Aggregation and degradation > Improved affinity
 Off-rate ranking and affinity > Retained specificity
 Epitope binning and mapping > Reduced liabilities
 Protein sequencing
Abthena® Bispecifics
 Novel & custom functional studies > Advanced discovery platforms for bi-specific antibodies
> Heterodimer formation-optimized IgG backbones
> Best performing leads flow into the engineering
and optimization platform > Bispecific binding validation
> Comparable yields as monospecific equivalents 44
> High degree of dimer formation
IPA | © 2022
Optimize Lead Developability
Validation &
Manufacturing

Early developability screening leads to improved odds of
rPEx® and rAb platforms
clinical success
> Serum-free recombinant protein and antibody
production in HEK293 and CHO
> Fully, post-translationally modified, mammalian proteins
> Optimized expression platform. Up to 10g recombinant antibody
production with low endotoxin levels
> Large quantities of research grade protein in a very short
time span (generally less than 8 weeks)
> Stable antibody-expressing cell line generation
All leads are screened for clinically-relevant liabilities which

may compromise clinical success of the end-product 45
IPA | © 2022
PolyTope® Advantage
Scientifically Rigorous & Comprehensive Therapy Approach
POLYTOP® ADVANTAGE
> Leverage complementary strengths of multiple Ab discovery platforms
> Multiple species & multiple Ab formats to cover “blind spots”
• Enhanced antibody diversity and broad epitope coverage

• Increases the chance of finding “rare” clones
• Large Ab library provides enormous possibilities for “plug-and-play”
cocktails to tackle emerging variants
• Allows for continuously improved cocktails through reformulation and
reformatting
PolyTope®
Enormous possibilities
Advantage
> Any target class, protein family
> Monoclonal or Multi-Ab Cocktails (MACs)
> Full IgG Ab, Ab fragments (scFv/VHH), bispecifics, and novel formats
PolyTope Advantage strategy is applicable for:

> “Rapid-Response” for various diseases such as SARS-CoV-2 and emerging
variants
> Elusive targets for any disease indication
> Difficult Targets (e.g. GPCRs, ion-channels)
46
IPA | © 2022
Talem Therapeutics
1 Broadway, 14th Floor
Contact Information
Cambridge, MA 02142
United States
Dr. Stefan Lang

ImmunoPrecise Antibodies

CBO
Vancouver Island Technology Park slang@immunoprecise.com
Unit 3204-4464 Markham Street
Victoria, British Columbia
V8Z 7X8, Canada
Timothy Miller
Director of Business Development
tmiller@immunoprecise.com
Pivot Park RE2142
Industrielaan 63
5349 AE Oss
The Netherlands www.immunoprecise.com
Utrecht Science Park
Life Science Incubator
Yalelaan 62
3584 CM Utrecht
The Netherlands
IPA | © 2022

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