Adicet Bio (ACET) Investor presentation summary

Pipeline overview and strategy

• Advancing allogeneic yō1 CAR T cell therapies for autoimmune diseases and cancer, with prula-cel targeting CD20 for multiple autoimmune indications and ADI-212 targeting PSMA for metastatic castration-resistant prostate cancer (mCRPC).

• Prula-cel is being developed for lupus nephritis (LN), systemic lupus erythematosus (SLE), systemic sclerosis (SSC), idiopathic inflammatory myopathy (IIM), stiff person syndrome (SPS), anti-neutrophil cytoplasmic autoantibody vasculitis (AAV), and rheumatoid arthritis (RA).

• ADI-212 is a next-generation, gene-edited, armored CAR T designed for enhanced potency in solid tumors, with regulatory filing planned for 3Q 2026 and enrollment initiation in 4Q 2026.

• Early-stage programs include in vivo CAR T and yō CAR T for autoimmune, hematological malignancies, and solid tumors.

• Key upcoming milestones include pivotal FDA meetings, clinical updates, and study initiations across multiple indications through 2026.

Prula-cel clinical data and impact

• Phase 1 data in LN and SLE show rapid, sustained reductions in disease activity (SLEDAI-2K, PGA), improved kidney function, and complete or partial renal responses in all LN patients.

• All patients discontinued immunosuppressants and tapered corticosteroids to zero or physiological levels.

• Well-tolerated safety profile with no ≥Grade 2 cytokine release syndrome (CRS), no ICANS, and only low-grade infections, supporting outpatient administration.

• Evidence of immune reset with emergence of naïve B cell repertoire and depletion of dominant, potentially pathogenic B cell clones.

• Off-the-shelf availability eliminates need for leukapheresis and manufacturing delays.

Unmet needs and market opportunity

• Current therapies for LN/SLE have limited disease control, significant side effects, and rarely achieve treatment-free remission.

• Chronic therapy leads to increased mortality and poor quality of life; there is a need for one-time therapies with favorable safety profiles.

• Prula-cel has potential to change clinical practice across multiple autoimmune indications, with significant patient populations in the US.

• ADI-212 targets a large mCRPC market, with ~75,000 2L+ treated patients globally and peak sales for PSMA-targeted therapies expected to exceed $5B.