Aura Biosciences (AURA) Corporate presentation summary

Transformative approach to early cancer treatment

• Virus-like drug conjugates (VDCs) offer a novel mechanism of action, combining direct tumor cell killing with immune activation and are mutation-agnostic, showing efficacy across >100 cell lines and >15 animal models.

• Positive clinical data in early choroidal melanoma (phase 2) and non-muscle-invasive bladder cancer (NMIBC, phase 1) support ongoing phase 3 and phase 1b/2 trials.

• VDCs target modified heparan sulfate proteoglycans, enabling unique tumor selectivity and high potency, with favorable safety profiles and no dose-limiting toxicities reported.

• Bel-sar, the lead candidate, is being developed for ocular and urologic oncology, with potential expansion into other solid tumors.

• Cash runway is expected to fund operations into Q1 2027.

Ocular oncology: Addressing high unmet need

• Ocular oncology represents a multi-billion-dollar market with ~66,000 patients/year in the US/EU and no vision-preserving therapies currently available.

• Standard-of-care radiotherapy often leads to legal blindness and significant morbidity; bel-sar aims to preserve vision and improve outcomes.

• Phase 2 data in early choroidal melanoma showed 80% tumor control and 90% visual acuity preservation at 12 months, with a favorable safety profile.

• Phase 3 COMPASS trial is enrolling globally, with topline data expected in 2H 2027.

• Bel-sar's addressable market includes choroidal melanoma, metastases to the choroid, and ocular surface cancers.

Urologic oncology: Innovation in bladder cancer

• Bladder cancer is a high-burden disease with >600,000 cases/year globally and high recurrence rates after standard treatments.

• Bel-sar is positioned as a first-in-class, tumor-specific focal immune therapy for NMIBC, aiming to reduce recurrence and enable organ preservation.

• Phase 1 data in NMIBC showed clinical complete responses with a single dose and robust immune activation, with no serious adverse events.

• Bel-sar converts immune "cold" tumors to "hot," supporting durable anti-tumor immunity and potential for broad application.

• Phase 1b/2 trial in NMIBC is ongoing, with data expected mid-2026.