IN8bio, Inc. Common Stock H.C. Wainwright 28th Annual Global Investment Conference

Good to see you, RK.

Thanks, RK. Yes. Hi, everybody. Great to see everyone. It is a nice packed room. Our business, we have actually two sides. We have the historical cell therapy, and today we have a T cell engager platform. Our company background is based on the science and research of our scientific founder, Dr. Lawrence Lamb. He has been working with these cells, these gamma delta T cells, since the early 1990s and is one of the world's best experts in these particular cells. On the cell therapy side, look, I am not going to beat around the bush too much, but it has been a challenging environment broadly for cell therapy. We are really excited. We had great data that got presented in the Journal of Clinical Oncology.

We had an ASCO presentation, and we will give an update on our median overall survival later this year, likely at The Society for Neuro-Oncology meeting in November. Timelines for that are obviously longer. It would require a registrational trial and additional data to get through to the market, but GBM is a significant unmet need with very little competition given that the last product approved was TEMODAR in 2005. On the T cell engager side, look, T cell engagers are hot. We have seen three major deals so far this year in the autoimmune sector. We saw MiroBio get acquired by Gilead for almost $1.7 billion. You saw Candid get acquired for UCB for $2 billion, and you saw Kali Therapeutics do a deal for $180 million upfront by Sanofi. All of those with a handful of phase I data.

Obviously, that is a much faster and quicker route to returns. Strategically, look, I was a long Wall Streeter. I spent 17 years on Wall Street. We understand we need to generate returns to our shareholders, and we are executing, and we continue to execute to deliver data, and in the long term, to generate shareholder returns.

Look, we love gamma delta T cells. We think they are highly differentiated. When the CAR Ts came out, when Juno and Kite came out, everyone was focused on the alpha-beta T cell. The reason why was they are plentiful. You take your blood and 70% of the T cells are all alpha-beta T cells. The gamma delta T cells comprise only 1%-5%. People make this mistake. They think, "Oh, those cells are in low numbers. They must not be important." One of my friends who is actually an immunologist from Stanford, she actually said one day, "Actually, those cells that are in small numbers, those are the powerful ones.

Those are the ones that can recruit the rest of the immune system." Gamma deltas have unique properties, and we think we can leverage that for novel products that are potentially more precise, function more like a scalpel rather than a sledgehammer, and have much better safety profiles, both on the cell therapy side and on the T cell engager side. Across all of our clinical trials to date, we have not seen major DLTs or SAEs. We have not seen any cytokine release syndrome to date. Despite the fact that we are putting cells directly into the brain, we have not seen any ICANS or neurotoxicity.

To talk a little bit about our data, I am going to actually update that data. The JCO publication was actually made last fall. It takes quite a while to get through editorial review. At ASCO, we updated the data. We included the phase II data where we had four patients that were dosed from three additional centers. In totality, we have dosed patients across UAB, Moffitt Cancer Center, Cleveland Clinic, and The Ohio State University. I think it is more powerful when you have results that are duplicated from multiple centers, so it is just not one magical surgeon. When we look across all of the data, the median progression-free survival is 13 months. The median overall survival at last count as of mid-May was 19 and a half months. Then we found we had a handful of patients, we found 10, that had consented but never received their treatment.