AEON Biopharma (AEON) Corporate presentation summary

Market opportunity and competitive landscape

• U.S. therapeutic neurotoxin market projected to exceed $5B by 2030, with BOTOX holding over 92% market share in 2025.

• BOTOX's dominance limits access, frustrates stakeholders, and leaves neurologists and payers with few alternatives.

• Non-BOTOX competitors collectively represent less than 8% of the market value.

• Payers lack leverage to control costs due to absence of clinically substitutable alternatives.

ABP-450 biosimilar strategy and differentiation

• ABP-450 is being developed as a biosimilar to BOTOX, aiming for full label parity across all 12 therapeutic indications.

• Built on a globally validated toxin platform, already approved in 69+ countries and FDA-approved for aesthetics.

• Designed to be clinically indistinguishable from BOTOX, minimizing operational friction and switching barriers.

• ABP-450 offers operational simplicity with identical vial size, dosing, and dilution as BOTOX.

Clinical and analytical evidence

• ABP-450 demonstrates 100% amino acid sequence identity to BOTOX across multiple lots.

• Highly similar potency confirmed by dual assays, supporting dose predictability and physician confidence.

• Analytical data package submitted to FDA; Type 2a meeting scheduled to align on biosimilarity pathway.

• FDA's biosimilar pathway allows for full label extrapolation, enabling efficient approval without multiple clinical trials.