8-K
Century Therapeutics, Inc. (IPSC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):August 13, 2025
Century Therapeutics, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-40498 | 84-2040295 |
|---|---|---|
| (State or other jurisdiction of<br><br>incorporation or organization) | (Commission File Number) | (I.R.S. Employer<br><br>Identification No.) |
| 25 North 38th Street, 11th Floor<br><br> <br>Philadelphia, Pennsylvania | 19104 | |
| --- | --- | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code:
(267) 817-5790
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Name of Exchange on Which Registered |
|---|---|---|
| Common Stock, par value $0.0001 per share | IPSC | Nasdaq Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 2.02 | Results of Operations and Financial Condition |
|---|
On August 14, 2025, Century Therapeutics, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended June 30, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information contained in this Item 2.02 (including Exhibit 99.1) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements |
|---|
Appointment of Chairman
On August 13, 2025, the Board of Directors (the “Board”) of the Company appointed its Chief Executive Officer, Brent Pfeiffenberger, Pharm.D., to serve as Chairman of the Board to succeed Joseph Jimenez, effective as of August 14, 2025.
Decrease in Size of Board and Committee Changes
On August 13, 2025, each of Joseph Jimenez and Cynthia Butitta notified the Board of their intent to step down from the Board, effective as of August 14, 2025. The departures of each of Mr. Jimenez and Ms. Butitta did not result from any disagreement with the Company on any matter relating to its operations, policies or practices. Effective August 14, 2025, the Board approved its reduction in size from eight to six members.
In connection with Mr. Jimenez and Ms. Butitta’s departures, Kimberly Blackwell was appointed chair of the Nominating and Corporate Governance Committee and Alessandro Riva was appointed a member of the Compensation Committee.
Consulting Agreement
In connection with Mr. Jimenez’s departure from the Board, on August 13, 2025, the Board approved the entry into a consulting agreement with Mr. Jimenez, to be effective as of August 14, 2025. (the “Consulting Agreement”). Pursuant to the Consulting Agreement, Mr. Jimenez will provide strategic advice to the Company’s chairman of the Board and as compensation for such services, all of the outstanding equity awards of Mr. Jimenez will continue to vest pursuant to their terms for the duration of Mr. Jimenez’s service as an advisor to the Company under the Consulting Agreement.
Chief Executive Officer Retention Award
On August 13, 2025, the Board approved a retention grant of 1,587,614 restricted stock units (the “Retention Award”) for Brent Pfeiffenberger, Pharm.D. in connection with his service as the Company’s Chief Executive Officer. The Retention Award will be granted on August 14, 2025 (the “Grant Date”) and is subject to the provisions of the Company’s 2021 Equity Incentive Plan (the “Plan”). The Retention Award shall vest 50% on the second anniversary of the Grant Date and the remaining 50% on the third anniversary of the Grant Date, subject to Dr. Pfeiffenberger’s continued service with the Company through each vesting date.
| Item 7.01 | Regulation FD Disclosure |
|---|
On August 14, 2025, the Company updated information reflected in a slide presentation, which is attached as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. Representatives of the Company will use the updated presentation in various meetings with investors from time to time.
The information contained in this Item 7.01 (including Exhibit 99.2) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits |
|---|
(d) Exhibits
| ExhibitNo. | Document |
|---|---|
| 99.1 | Press Release of Century Therapeutics, Inc., dated August 14, 2025 |
| 99.2 | Investor Presentation of Century Therapeutics, Inc., dated August 14, 2025 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| CENTURY THERAPEUTICS, INC. | |
|---|---|
| By: | /s/ Brent Pfeiffenberger, Pharm.D. |
| Name: | Brent Pfeiffenberger, Pharm.D. |
| Title: | President and Chief Executive Officer |
Date: August 14, 2025
Exhibit 99.1
Century Therapeutics Reports Second Quarter2025 Financial Results and Provides Business Update
| · | Patient dosing ongoing in CALiPSO-1 trial; on track to report clinical data for CNTY-101 in patients with B-cell-mediated autoimmune<br>diseases by year-end 2025 |
|---|---|
| · | CNTY-308, a CAR-iT cell therapy functionally comparable to primary T cells, now in IND-enabling studies as a potential treatment for<br>B-cell-mediated diseases; program expected to progress into the clinic in 2026 |
| --- | --- |
| · | Dr. Brent Pfeiffenberger, CEO, appointed to Board Chair |
| --- | --- |
| · | Cash runway extended into fourth quarter 2027 |
| --- | --- |
PHILADELPHIA,Aug. 14, 2025 -- Century Therapeutics, Inc. (‘Century’, NASDAQ: IPSC), an innovative biotechnology company developing induced pluripotent stem cell (iPSC)-derived cell therapies in autoimmune disease and cancer, today reported financial results for the second quarter ended June 30, 2025, and provided a business update.
“In the first half of 2025, we made important business decisions to ensure our capital resource allocation and pipeline development activities are centered on potentially transformational cell therapy candidates and technologies. We are pleased by recent progress across our core pipeline, including continued clinical execution of CNTY-101 in autoimmune disease and the acceleration of our core preclinical programs. IND-enabling studies are now underway for CNTY-308 and we have made rapid progress toward drug candidacy for our non-immune cell program,” said Brent Pfeiffenberger, Pharm.D., Chief Executive Officer of Century Therapeutics. “We will continue to shape the organization as needed and look forward to moving with urgency throughout the remainder of 2025 to deliver clinical data for CNTY-101 and bring our pipeline underpinned by Allo-Evasion™ 5.0 technology closer to patients.”
Dr. Pfeiffenberger continued, “As part of this evolution, I am honored to deepen my role in driving the growth and success of Century by assuming the role of Board Chair. I wish to extend my heartfelt thanks to Joe for his service as Board Chair over the last four years. He has made a lasting impact on our organization, and I’m pleased to have him continue as a special advisor to the company moving forward.”
Second Quarter 2025 and Recent Highlights
CNTY-101 in Autoimmune Diseases
| · | CALiPSO-1 trial progressing with continued patient enrollment and clinical trial site activations: The company continues to<br>increase its clinical trial site footprint to support enrollment for the CALiPSO-1 trial, a company-sponsored Phase 1 trial of CNTY-101<br>in patients with B-cell-mediated autoimmune diseases, with six sites now activated in the U.S. and two in Europe, and additional sites<br>on track to activate later this year. As of today, the company had dosed two patients and continues to progress patient enrollment across<br>multiple sites. The company remains on track to report clinical data for CNTY-101 by the end of 2025. |
|---|---|
| · | CARAMEL IIT study progressing towards initial patient treatment: The CARAMEL investigator-initiated trial (IIT), a Phase 1/2<br>trial of CNTY-101 in patients with B-cell-mediated autoimmune diseases led by Professors Georg Schett and Andreas Mackensen and sponsored<br>by the Friedrich-Alexander University Erlangen-Nürnberg, was activated in July following the previously announced authorization<br>of a clinical trial application (CTA) in Germany. Initial patient enrollment and dosing is expected to occur in the third quarter of 2025. |
| --- | --- |
| · | Preclinical data presented at EULAR 2025 Congress: In June 2025, Century presented a poster presentation at the EULAR<br>2025 Congress demonstrating the ability of CNTY-101 to exhibit B cell depletion illustrating its broad potential in B cell-driven autoimmune<br>diseases. The findings from the poster presentation support the clinical development of CNTY-101 in autoimmune diseases. |
| --- | --- |
CNTY-308 and Other Preclinical Program
| · | CNTY-308 now advancing through IND-enabling studies as a potential treatment for B-cell-mediated diseases: In mid-2025, Century<br>initiated Investigational New Drug (IND)-enabling studies with CNTY-308, a CD19-targeted CD4+/CD8+ ab CAR-iT cell therapy functionally<br>comparable to primary T cells and engineered with Allo-Evasion™ 5.0. CNTY-308 is being developed as a potential treatment for B-cell-mediated<br>diseases. Following successful completion of these IND-enabling studies and the receipt of requisite regulatory approval, Century plans<br>to initiate clinical studies in 2026. |
|---|---|
| · | Accelerating preclinical development of non-immune cell program: Century is leveraging its deep expertise in selective iPSC<br>differentiation in high-impact therapeutic areas. Rapid progress towards drug candidacy has been made for Century’s first non-immune<br>cell therapy program engineered with Allo-Evasion™ 5.0. |
| --- | --- |
| · | Presented data highlighting CNTY-308 and Allo-Evasion™ 5.0 at EULAR 2025 Congress: In June 2025, Century<br>presented a poster presentation at the EULAR 2025 Congress supporting the ability for CNTY-308, engineered with Allo-Evasion™ 5.0,<br>to deliver rapid ablation of primary B cells in vitro and in vivo, exhibiting encouraging data for the potential treatment<br>of B cell-mediated autoimmune diseases. Moreover, Allo-Evasion™ 5.0 demonstrated meaningful protection from allogeneic immune cells<br>and antibody mediated rejection. |
| --- | --- |
Corporate Updates
| · | Cash runway extended into the fourth quarter of 2027: As part of Century’s effort to right size its organizational focus<br>on programs with the highest potential for transformational value, the company completed a workforce reduction in July 2025 and prioritized<br>pipeline development activities for CNTY-101, CNTY-308 and its non-immune cell program. As a result, the company’s cash runway was<br>extended into the fourth quarter of 2027. |
|---|---|
| · | CEO, Brent Pfeiffenberger, appointed to Board Chair: Today, Century announced its Board of Directors has unanimously elected<br>Brent Pfeiffenberger, Pharm.D., Chief Executive Officer, to serve as Board Chair. In this role, Dr. Pfeiffenberger succeeds Joe Jimenez,<br>who served as Board Chair since 2021 and a member of the Board since 2020 and will transition to a new role as a special advisor. |
| --- | --- |
“It has been a privilege to serve as Century’s Board Chair for the last four years. Since Brent assumed the role of CEO, I had the opportunity to see how he has transformed the company, executing strategic deals, fundraising and evolving the pipeline. I am confident his expanded leadership role will create value and drive long-term success as the company seeks to bring much needed therapeutic innovation closer to patients with autoimmune diseases and cancer,” said Mr. Jimenez. “I look forward to following Century’s continued development progress across its core programs and supporting through my new role as a special advisor.”
Second Quarter 2025 Financial Results
| · | Cash Position: Cash, cash equivalents, and marketable securities were $158.5 million as of June 30, 2025, as compared<br>to $220.1 million as of December 31, 2024. The company estimates its cash, cash equivalents, and investments will support operations<br>into the fourth quarter of 2027. |
|---|---|
| · | Research and Development (R&D) Expenses: R&D expenses were $26.9 million for the three months ended June 30, 2025,<br>compared to $27.2 million for the same period in 2024. The decrease in R&D expenses is primarily due to a reduction of personnel and<br>manufacturing costs, offset by an increase in research and laboratory costs to progress clinical trials and preclinical programs. |
| --- | --- |
| · | General and Administrative (G&A) Expenses: G&A expenses were $7.8 million for the three months ended June 30,<br>2025, compared to $8.3 million for the same period in 2024. |
| --- | --- |
| · | Net Income (Loss): Net loss was $32.5 million for the three months ended June 30, 2025, compared to net loss of $31.2<br>million for the same period in 2024. |
| --- | --- |
About Century Therapeutics
Century Therapeutics (NASDAQ: IPSC) is a clinical-stage biotechnology company leveraging its expertise in cellular reprogramming, genetic engineering, and manufacturing to develop cell therapies with the potential to provide meaningful advantages over existing cell therapies. Century’s genetically engineered, iPSC-derived cell therapy pipeline includes programs designed to address autoimmune diseases and cancers. Century believes its commitment to developing off-the-shelf cell therapies will expand patient access and provide an opportunity to advance the course of autoimmune disease and cancer care. For more information on Century Therapeutics, please visit www.centurytx.com and connect with us on LinkedIn.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of, and made pursuant to the safe harbor provisions of, The Private Securities Litigation Reform Act of 1995. All statements contained in this press release, other than statements of historical facts or statements that relate to present facts or current conditions, including but not limited to, statements regarding our clinical development plans and timelines are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “might,” “will,” “should,” “expect,” “plan,” “aim,” “seek,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “forecast,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward-looking statements in this press release are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions, some of which cannot be predicted or quantified and some of which are beyond our control, including, among others: our ability to successfully advance our current and future product candidates through development activities, preclinical studies, and clinical trials; our dependence on the success of our lead product candidate, CNTY-101; our ability to progress CNTY-101 through clinical development; our ability to meet development milestones on anticipated timelines; uncertainties inherent in the results of preliminary data, pre-clinical studies and earlier-stage clinical trials, which may not be predictive of final results or the results of later-stage clinical trials; our ability to obtain clearance of our future IND or CTA submissions and commence and complete clinical trials on expected timelines, or at all; our reliance on the maintenance of certain key collaborative relationships for the manufacturing and development of our product candidates; the timing, scope and likelihood of regulatory filings and approvals, including final regulatory approval of our product candidates; the impact of geopolitical issues, trade disputes and tariffs, banking instability and inflation on our business and operations, supply chain and labor force; the performance of third parties in connection with the development of our product candidates, including third parties conducting our clinical trials as well as third-party suppliers and manufacturers; our ability to successfully commercialize our product candidates and develop sales and marketing capabilities, if our product candidates are approved; our ability to recruit and maintain key members of management and our ability to maintain and successfully enforce adequate intellectual property protection. These and other risks and uncertainties are described more fully in the “Risk Factors” section of our most recent filings with the Securities and Exchange Commission and available at www.sec.gov. You should not rely on these forward-looking statements as predictions of future events. The events and circumstances reflected in our forward-looking statements may not be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. Moreover, we operate in a dynamic industry and economy. New risk factors and uncertainties may emerge from time to time, and it is not possible for management to predict all risk factors and uncertainties that we may face. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.
For More Information:
Century Therapeutics
Douglas Carr
Senior Vice President, Finance
investor.relations@centurytx.com
JPA Health
Sarah McCabe
smccabe@jpa.com
Century Therapeutics, Inc
Condensed Balance Sheets
(unaudited, in thousands)
| June 30, | December 31, | |||
|---|---|---|---|---|
| 2025 | 2024 | |||
| Assets | ||||
| Current Assets: | ||||
| Cash and cash equivalents | ||||
| Short-term investments | ||||
| Prepaid expenses and other current assets | ||||
| Total current assets | ||||
| Property and equipment, net | ||||
| Operating lease right-of-use assets, net | ||||
| Long-term investments | ||||
| Intangible assets | ||||
| Other long-term assets | ||||
| Total assets | ||||
| Liabilities, convertible preferred stock, and stockholders' equity | ||||
| Current liabilities: | ||||
| Accounts payable | ||||
| Accrued expenses and other liabilities | ||||
| Deferred revenue, current | ||||
| Total current liabilities | ||||
| Operating lease liability, noncurrent | ||||
| Contingent consideration liability | ||||
| Deferred tax liability | ||||
| Total liabilities | ||||
| Stockholders' equity | ||||
| Preferred stock | ||||
| Common stock | ||||
| Additional paid-in capital | ||||
| Accumulated deficit | ) | ) | ||
| Accumulated other comprehensive loss | ||||
| Total stockholders' equity | ||||
| Total liabilities and stockholders' equity |
All values are in US Dollars.
Century Therapeutics, Inc
Condensed consolidated statements of operations
(unaudited, in thousands, except share and per share amounts)
| Three <br><br>Months <br><br>Ended | Three <br><br>Months <br><br>Ended | Six <br><br>Months <br><br>Ended | Six <br><br>Months <br><br>Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| June 30, <br><br>2025 | June 30, <br><br>2024 | June 30, <br><br>2025 | June 30, <br><br>2024 | |||||||||
| Collaboration Revenue | $ | - | $ | 771 | $ | 109,164 | $ | 1,625 | ||||
| Operating Expenses | ||||||||||||
| Research and development | 26,859 | 27,220 | 53,439 | 50,641 | ||||||||
| General and administrative | 7,805 | 8,306 | 16,212 | 17,052 | ||||||||
| Total operating expenses | 34,664 | 35,526 | 69,651 | 67,693 | ||||||||
| Income (loss) from operations | (34,664 | ) | (34,755 | ) | 39,513 | (66,068 | ) | |||||
| Interest income | 2,010 | 3,582 | 4,431 | 6,820 | ||||||||
| Other income (expense), net | 113 | (12 | ) | 75 | 1 | |||||||
| Income (loss) before provision for income taxes | (32,541 | ) | (31,185 | ) | 44,019 | (59,247 | ) | |||||
| Provision for income taxes | - | (22 | ) | - | (22 | ) | ||||||
| Net income (loss) | $ | (32,541 | ) | $ | (31,207 | ) | $ | 44,019 | $ | (59,269 | ) | |
| Unrealized gain (loss) on investments | (222 | ) | (102 | ) | (241 | ) | (453 | ) | ||||
| Foreign currency translation adjustment gain (loss) | - | 34 | - | 36 | ||||||||
| Comprehensive income (loss) | $ | (32,763 | ) | $ | (31,275 | ) | $ | 43,778 | $ | (59,686 | ) | |
| Net income (loss) per common share Basic | (0.38 | ) | (0.38 | ) | 0.51 | (0.82 | ) | |||||
| Net income (loss) per common share Diluted | (0.38 | ) | (0.38 | ) | 0.51 | (0.82 | ) | |||||
| Weighted average common shares outstanding Basic | 86,238,084 | 82,092,167 | 86,130,235 | 72,194,402 | ||||||||
| Weighted average common shares outstanding Diluted | 86,238,084 | 82,092,167 | 86,207,666 | 72,194,402 |
Exhibit 99.2
Corporate Overview August 2025
© 2025 2 2 This presentation contains forward - looking statements within the meaning of, and made pursuant to the safe harbor provisions of, The Private Securities Litigation Reform Act of 1995. All statements contained in this presentation, other than statements of historical facts or statements that relate to present fa cts or current conditions, including but not limited to, statements regarding our clinical development plans and timelines and the initial safety and efficacy profiles of CNTY - 101 are f orward - looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achieve men ts to be materially different from any future results, performance or achievements expressed or implied by the forward - looking statements. In some cases, you can identify forward - look ing statements by terms such as “may,” “might,” “will,” “should,” “expect,” “plan,” “aim,” “seek,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “beli eve ,” “estimate,” “predict,” “forecast,” “potential” or “continue” or the negative of these terms or other similar expressions. The forward - looking statements in this presentation are only predictions. We have based these forward - looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, fi nancial condition, and results of operations. These forward - looking statements speak only as of the date of this presentation and are subject to a number of risks, uncertainties an d assumptions, some of which cannot be predicted or quantified and some of which are beyond our control, including, among others: our ability to successfully advance our current an d future product candidates through development activities, preclinical studies, and clinical trials; our dependence on the success of our lead product candidate, CNTY - 101; our ability to progress CNTY - 101 through clinical development; our ability to meet development milestones on anticipated timelines; uncertainties inherent in the results of preliminary dat a, pre - clinical studies and earlier - stage clinical trials, which may not be predictive of final results or the results of later - stage clinical trials; our ability to obtain clearance of our fut ure IND or CTA submissions and commence and complete clinical trials on expected timelines, or at all; our reliance on the maintenance of certain key collaborative relationships for the m anu facturing and development of our product candidates; the timing, scope and likelihood of regulatory filings and approvals, including final regulatory approval of our product candidat es; the impact of geopolitical issues, trade disputes and tariffs, banking instability and inflation on our business and operations, supply chain and labor force; the performance of third part ies in connection with the development of our product candidates, including third parties conducting our clinical trials as well as third - party suppliers and manufacturers; our abili ty to successfully commercialize our product candidates and develop sales and marketing capabilities, if our product candidates are approved; our ability to recruit and maintain key mem ber s of management and our ability to maintain and successfully enforce adequate intellectual property protection. These and other risks and uncertainties are described more fu lly in the “Risk Factors” section of our most recent filings with the Securities and Exchange Commission and available at www.sec.gov . You should not rely on these forward - looking statements as predictions of future events. The events and circumstances reflected in our forward - looking statements may not be achieved or occur, and actual results could differ material ly from those projected in the forward - looking statements. Moreover, we operate in a dynamic industry and economy. New risk factors and uncertainties may emerge from time t o t ime, and it is not possible for management to predict all risk factors and uncertainties that we may face. Except as required by applicable law, we do not plan to publicly up date or revise any forward - looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise. Forward - looking statements
Estimated cash runway into 4Q27 ; Enhanced resources to enable key value milestones Enhanced precl inical pipeline and platform aiming to expand and multiply cell therapy value • Prioritizing development activities for CNTY - 308 for B - cell - mediated diseases • Selective expansion to non - immune cells in high impact diseases • Deep reservoir of novel iPSC - derived ‘tunable’ CD4+/CD8+ αβ T cells for long - term pipeline growth Accelerating Preclinical Pipeline Focused Clinical Execution Continuous Transformation Clinical focus with CNTY - 101 on autoimmune disorders with transformational potential • Unique profile of CD19 - targeting iNK cell product engineered with Allo - Evasion with clinical data from R/R NHL reinforcing potential in autoimmune disorders • Patient enrollment ongoing in CALiPSO - 1 trial and CARAMEL IIT advancing to patient enrollment in 3Q25 Century Therapeutics Today • CNTY - 308 T cell program expected to enter the clinic in 2026 pending successful completion of IND - enabling studies and regulatory approval • Ended 2Q25 with cash, cash equivalents, and investments of $158.5M • CNTY - 101 autoimmune clinical data expected in 2025
© 2025 4 4 Clear differentiation from other allogeneic cell therapies with pathway to antibody - like scale Century’s ability to create multiple iPSC - derived cell types incorporating Allo - Evasion stands apart from other allogeneic cell therapy approaches Engineerability • Control of differentiation to multiple cell types • Nearly unlimited genetic editing capacity due to infinite replicative capacity Reproducibility • Fully characterized single cell clones form master cell bank (MCB) • Deep understanding of cell function and safety Profitable Scalability • Large batch sizes with batch - to - batch consistency • Pathway to significantly reduced COGS similar to antibody therapies • Expansion from a single - clone MCB decreases risk of cell exhaustion Allogeneic Allo - Evasion iPSCs Off - the - shelf therapies Potential for improved time - to - treatment Broad availability Manufacturing dependability Enables potential for persistence and re - dosing of therapy Engineering for immune evasion from: • Native T - cells and NK - cells • Antibody immunity
© 2025 5 5 1. Company data: ELiPSE - 1 Phase 1 study in B - cell malignancies Allo - Evasion engineering aims to drive durable responses by enabling repeat dosing for tighter control over drug exposure Clinical data from CNTY - 101 in ELiPSE - 1 show persistent exposure in the presence of an intact immune system 1 With Allo - Evasion engineering Without Allo - Evasion engineering Dose 1 Dose 2 Dose 3
© 2025 6 6 Continued evolution to enhance holistic protection from major immunity pathways 1. https://www.centurytx.com/wp - content/uploads/ASH_Welstead_Universal - Protection - of - Allogenic - T - Cells - Final.pdf 2. https://ashpublications.org/bloodadvances/article/doi/10.1182/bloodadvances.2024013436/518079/Universal - Protection - of - Allogeneic - T - Cell 3. Peraro et al, Mol. Therapy 2021, 29(12), 3398 - 3409; https://pmc.ncbi.nlm.nih.gov/articles/PMC8636170 Century is a leader in immune evasion engineering Allo - Evasion 1.0 Deletion of HLA - I Deletion of HLA - II Insertion of HLA - E Protection from: Native T - cells Native NK - cells Humoral immunity CNTY - 101 CNTY - 308 Solid tumors CNTY - 341 Deletion of HLA - I Deletion of HLA - II Insertion of CD300a TASR pan - NK inhibitory ligand 1, 2 Insertion of cell - surface enzyme to degrade IgG antibodies 3 b2M KO (HLA - I) CIITA KO (HLA - II) CD8 + T Cell CD4 + T Cell Pan NK Inhibitory ligand Fc NK cell Allo - Evasion 5.0 ED1
© 2025 7 7 https://ashpublications.org/bloodadvances/article/doi/10.1182/bloodadvances.2024013436/518079/Universal - Protection - of - Allogeneic - T - Cell ; https:// www.centurytx.com /wp - content/uploads/ASH_Welstead_Universal - Protection - of - Allogenic - T - Cells - Final.pdf The CD300a TASR ligand mimics natural signaling to provide broad protection from host NK cells in preclinical studies CD300a detects disordered membrane lipids TASR mimics signaling of dead or dying cells Drug Product (live) Inhibit NK Cell TASR CD300a Dead/dying c ell NK Cell Inhibit CD300a Male Female <50 >50 Gender Age Ethni- city CMV Caucasian Other African American Hispanic Negative Positive N = 45 PBMC Donors 0.01 0.1 10 0.01 0.1 1 0 25 50 75 100 0 E:T Ratio T Cell Survival (%) 0.01 0.1 10 No Cloak CD300a TASR CD47 HLA - I+ 20 hours Target (T) T Cell NK Effector (E) CD300a NKG2A KIR 0 20 40 60 80 100 Inhibitory Receptor Expression on NK Cells (n = 46 donors) % o f N K C e l l s CD300a is expressed broadly TASR provides protection from NK cells in vitro NK Donor 2 (2C dom ) NK Donor 1 (2A dom ) NK Donor 3 (2A dom ) TASR KI B2M KO
© 2025 8 8 WT Gen 2.3 0 25 50 75 100 Antibody-Dependent Cellular Cytotoxicity Primary T cells (Donor 6705) + 1 μg αHLA-cI + Donor SC09 NK cells (2:1) % S u r v i v a l ✱ GFP IdeStm 0 20 40 60 80 100 Complement Dependent Cytotoxicity Human Anti-HLA-ABC + 25% Complement (v/v) Donor SC07 Primary T Cells % S p e c i f i c L y s i s ✱✱✱✱ WT Century Measure of Phagocytosis (Area under the curve) As a result, Century’s T cells are protected from rejection in preclinical CDC, ADCC and ADCP assays Century T cells have been shown to stably express IDP, an enzyme that cleaves off IgGs below the hinge, releasing the Fc fragment Primary T cells + Primary macrophages +/ - 1µg α CD52 Source: Company data In preclinical studies, Century’s IgG degrading enzyme (IDP) protected cells from multiple pathways of humoral immunity WT Century Century WT WT Cells - > Condition - > +Ab +Ab - Complement Dependent Cytotoxicity Antibody - Dependent Cellular Cytotoxicity Antibody - Dependent Cellular Phagocytosis Immunoglobulin degrading protease Cells expressing IDP showed less lysis Cells expressing IDP showed greater survival Cells expressing IDP showed less phagocytosis in the presence of an antibody trigger
© 2025 9 9 Clinical IND - enabling Research Indications Targets Product Phase 3 Phase 2 Phase 1 B - cell - mediated autoimmune diseases CD19 CNTY - 101 iNK ( Allo - Evasion 1.0) B - cell - mediated diseases CD19 CNTY - 308 αβ iT ( Allo - Evasion 5.0) B - cell malignancies CD19 + CD22 CNTY - 341 iT ( Allo - Evasion 5.0) Solid tumors Nectin - 4/other Solid tumors iT ( Allo - Evasion 5.0) Undisclosed Undisclosed Undisclosed Non - immune cells 1. Agreement in place for an investigator - initiated trial (IIT) by Professors Georg Schett and Andreas Mackensen at Friedrich - Alexander University Erlangen - Nürnberg. Century is advancing a focused iPSC pipeline across cell types and targets in autoimmune diseases and cancer CALiPSO - 1 CARAMEL IIT 1 Hematologic tumors Solid tumors Autoimmune diseases Undisclosed
CNTY - 101 CAR - iNK cell therapy with Allo - Evasion 1.0
© 2025 11 11 Currently dosing patients in Phase 1 in autoimmune disorders https://www.centurytx.com/wp - content/uploads/ASGCT24 - CNTY - 101 - AI - Poster.pdf CNTY - 101: A CD19 - targeted CAR - iNK product candidate designed to provide precise control of drug exposure and enable repeat dosing CNTY - 101 off - the - shelf CAR - iNK cell therapy candidate designed to treat patients with B cell - mediated diseases • Six precision gene edits designed to enable: • CD19 - targeted CAR for B - cell depletion • Allo - Evasion technology enables re - dosing without lymphodepletion • Secreted IL - 15 enhances cell persistence • Safety switch enables elimination of CNTY - 101 with cetuximab, if required for patient safety • iNK cells incorporating Allo - Evasion provide more predictable pharmacokinetics and pharmacodynamics CNTY - 101 HLA - I Knockout IL - 15 HLA - II Knockout CD19 CAR HLA - E Safety Switch
© 2025 12 12 Allogeneic iPSC • Available ‘off - the - shelf’ • No patient apheresis required • No manufacturing wait time • Batch - to - batch consistency • Platform enables lower COGs than donor - derived or autologous CNTY - 101 is a differentiated autoimmune disease treatment: Allogeneic iPSC CAR iNK cell therapy with Allo - Evasion NK cells • Killing potency (≥ primary CAR - T) leads to deep B - cell depletion 1 • Trafficking to secondary lymphoid tissues and marrow favors pathogenic B - cell targeting • Short - lived, more predictable pharmacokinetics and pharmacodynamics • Manageable safety profile, well - tolerated in ELiPSE - 1 Allo - Evasion • Avoiding host immune rejection • Ability to repeat dose without continued lymphodepletion • Ability to re - treat, if needed 1. https://www.centurytx.com/wp - content/uploads/ASH_Chin_Natural - Killer - GD - Cells - Final.pdf Tighter control over drug exposure: B - cell depletion without prolonged B - cell aplasia
© 2025 13 13 1. Tian Ann Rheum Dis 2023; Izmirly Arth Rheum 2021; Duarte - Garcia Ann Rheum Dis 2022; Hocaoglu Arth Rheum 2022; Smoyer - Tomic BMC Musculoskeletal Disorders 2012; Khoo Nat Rev Rheum 2023; Bendewald Arch Dermatol 2010; Bairkdar Rheumatology 2021; Fan J Manag Care Spec Pharm . 2020 2. Estimates include refractory subpopulations. Morand Ann Rheum Dis 2018; Morand Ann Rheum Dis 2023; Oon Ann Rheum Dis 2019; Mo ran d Arth Rheum 2023; Scherlinger Ann Rheum Dis 2019; Clowse Arthritis Rheumatol 2024 (abstract); Mayes Arth Rheum 2003 3. Highest efficacy values reported; not necessarily Phase 3 trial primary efficacy endpoints that supported FDA approval. Oon A nn Rheum Dis 2019; Morand Ann Rheum Dis 2023; Aranow Ann Rheum Dis 2024; Rovin Lancet 2021; Hanni CJASN 2024; Saxena Arth& Rheum 2023; Furie NEJM 2020; Aggarwal NEJM 2022; Distler NEJM 2019; Khanna Lancet Respir Med 2 020 LLDAS – Lupus low disease activity state; FVC – Forced vital capacity Autoimmune disorders present significant unmet medical need Diffuse cutaneous Systemic Sclerosis (dcSSc) Idiopathic Inflammatory Myopathy (IIM) Lupus Nephritis (LN) Systemic Lupus Erythematosus (SLE) Fibrosis and vasculopathy of the skin and internal organs, with high risk for disability, disfigurement, and cardiopulmonary mortality Inflammation of muscle, lungs, skin, joints, and gastrointestinal tract causing weakness, pain, and lung failure which can lead to chronic disability and potentially mortality Kidney manifestation of SLE with potential kidney failure requiring dialysis and increased risk for mortality Multiorgan, potentially fatal, inflammatory disease with risk for organ damage, including skin, heart, and brain Characteristics >85,000 ( SSc ) >60,000 80,000 – 120,000 180,000 – 340,000 US Prevalence 1 >30,000 >10,000 >30,000 >20,000 Initial addressable subpopulations 2 Slow progression: Immuno - suppressants, vasodilators, antifibrotic agents Corticosteroids, immunosuppressants, IVIg Corticosteroids, chemotherapy, immunosuppressants, dialysis Corticosteroids, chemotherapy, immunosuppressants, anticoagulants, plasmapheresis Standard of care Slower decline in lung function (FVC decrease >24 mL/year on therapy) <40% total improvement score (TIS) of 60% <40% complete renal response (CRR) <35% low disease activity (LLDAS) Limited efficacy with approved therapies 3 Slow progression, prevent cardiac or respiratory failure, survival Remission, maintain function, prevention of calcinosis, damage, respiratory failure, survival Prevention of renal failure, survival Low disease activity, prevention of organ damage, survival Unmet Medical Need Despite approved treatments, significant underappreciated unmet need remains Even effective available t reatments leave patients suffering with active disease , shortened lifespan , and prospect of life - long medication SoC relies on chronic treatment with broad - acting corticosteroids & immunosuppressives Treatment toxicity and disease flares leading to organ damage remain common Current treatments fail to significantly improve quality of life or prevent organ failure in majority of patients
© 2025 14 14 1. Mackensen Nature Medicine 2022 doi.org /10.1038/s41591 - 022 - 02017 - 5, Muller NEJM 2024 doi /full/10.1056/NEJMoa2308917, Muller ASH 2024 doi.org /10.1182/blood - 2024 - 194525, Sheikh Arthritis Rheumatol . 2024 2. Yu Arthritis Rheumatol . 2024; Goulding Arthritis Rheumatol . 2024, Wang Cell 2024 doi.org /10.1016/j.cell.2024.06.027 CRISS – Composite Response Index for Clinical Trials in Early Diffuse Systemic Sclerosis Clear opportunity for allogeneic cell therapies to address moderate to severe autoimmune indications by providing long - term, drug - free remission Significant patient population and unmet need • Tens of thousands of patients with unmet need in the US • Heterogeneous nature of patients with autoimmunity supports opportunity for multiple modalities within and across indications • Treatments needed to resolve inflammation , prevent organ failure, normalize lifespan , and avoid toxicity of life - long medication Opportunity to deliver transformational efficacy • Dramatically improve upon standard of care • SLE: LLDAS achievement – predictor for reduction of damage accrual • LN: C omplete renal response (CRR) • SSc : High % CRISS, FVC stabilization • IIM: High % TIS • Optimal outcome: drug - free remission Compelling evidence for benefit from deep depletion of pathogenic B - cells • Autologous anti - CD19 CAR - T cell therapies demonstrate potential for long - term drug - free remission • Unmet c hallenges include safety (CRS, ICANS, neutropenia, B cell aplasia), logistics, and product availability • Emerging data for allogeneic cell therapies 2 demonstrate potential for transformative impact and may address above challenges
© 2025 15 15 https://www.centurytx.com/wp - content/uploads/ASH_Chin_Natural - Killer - GD - Cells - Final.pdf ; Isolated B cells or CD19+ target cells were co - cultured with CNTY - 101 or primary CAR - T at several E:Ts in 96 - well U bottom plates in NKCM with assay harvested at 24h; Assay plates were harvested and stained f or Fixable Live/Dead. Cells were fixed and run on cytometer to determine Target+Dead Cell populations; E:T – Effector:Target ratio; UTD – Untransduced donor cells as control In vitro studies show that CNTY - 101 eliminates B cells with greater potency than primary CAR - T cells 24 - hour in vitro cytolysis study of CNTY - 101 against B - cells from SLE patients, compared to primary CAR - T cells derived from healthy donors
© 2025 16 16 SLE – Systemic Lupus Erythematosus; LN – Lupus Nephrits ; IIM – Idiopathic inflammatory Myopathy; dcSSc – Diffuse Cutaneous Systemic Sclerosis; DLT – Dose Limiting Toxicity; 2 cohorts open, one with CNTY - 101 as monotherapy and a second with CNTY - 101 supplemented with IL - 2 (1.5e6 IU SQ) for 5 days afte r each dose of CNTY - 101 *Response assessment conducted at one month; does not gate Cycle 2 CALiPSO - 1 is a Phase 1 study of CNTY - 101 underway in refractory B cell - mediated autoimmune diseases (NCT06255028) infusions in outpatient setting Inclusion: • Participants with moderate to severe SLE , LN, IIM, or dcSSc with treatment - resistant and active disease, after 2+ standard immunosuppressive therapies Cycle 1 Cycle 2 No lymphodepletion Schedule Dose level: 1e9 cells Lympho - depletion 28 - day DLT Period* Patient enrollment Up to N= 48 Response assessments months 2 – 12 CNTY - 101 CNTY - 101 CNTY - 101 Day 1 Day 8 Day 15 CNTY - 101 CNTY - 101 CNTY - 101 Day 1 Day 8 Day 15 Day 8 and subsequent infusions allowed in outpatient setting Endpoints: • Key endpoints: Safety and tolerability, disease activity measures per clinical and laboratory assessments • Translational endpoints: PK, B - cell depletion, autoantibody decline
© 2025 17 17 1. Standard lymphodepletion regimen: Fludarabine (30 mg/c/d) and cyclophosphamide IV (300 mg/m/d) for 3 days 2. Subjects who are assessed as stable disease or better may receive additional cycles of CNTY - 101 3. Subjects at DL4A did not receive IL - 2 on the day of CNTY - 101 infusion but did receive IL - 2 daily for 7 days 4. For DL 4B, initial 2 cycles at DL 4B; subsequent cycle regimen depending on response or risk/benefit ELiPSE - 1 is a dose - escalating Phase 1 study of CNTY - 101 in B - cell malignancies (NCT05336409) Patients with CD19+ aggressive and high - risk indolent R/R B - NHL • Part 1 – Dose escalation • Schedule A: Single dose • Schedule B: 1 dose per week x 3 weeks • Part 2 – Dose expansion • DLBCL, HGBL, MCL, PMBCL, FL3B, FL, MZL • > 2 prior lines of therapy • Prior CD19 - targeted cell therapy allowed Dose level 4: 3 billion 4 Bayesian Optimal Interval (BOIN) design DLBCL – Diffuse large B cell Lymphoma; HGBL – High - Grade B - cell Lymphoma; MCL – Mantle Cell Lymphoma; PMBCL – Peripheral Mediastinal B - cell Lymphoma; FL3B – Follicular Lymphoma Grade 3B; FL – Follicular Lymphoma; MZL – Marginal Zone Lymphoma; DLT – Dose Limiting Toxicity; IL - 2 – Interleukin - 2 (dose: 3e6 IU; subcutaneous).
© 2025 18 18 Source: Company data available as of March 1, 2025 CNTY - 101 ELiPSE - 1 first - in - human study: Initial clinical experience in relapsed/refractory B - cell lymphoma validates Century’s IPSC platform Heavily pre - treated patient population (n=23 safety; n=22 efficacy) • Median 4 prior lines (range 2 - 6); 48% (11/23) of patients received prior CART Favorable initial safety and tolerability profile (n=23) • No dose - limiting toxicities (DLTs); no events of graft - versus - host disease (GvHD) • Majority of participants received CNTY - 101 infusions in an outpatient setting • In DL 3B and 4B (n=9), No ICANs; 3 patients (33%) had G1 or G2 cytokine release syndrome (CRS) Activity Profile in Relapsed / Refractory Aggressive BCL • ORR for DL 3B and 4B (n=9) was 77% (7/9) and complete response rate was 22% (2/9) Emerging data reinforce potential of CNTY - 101 in autoimmune diseases at targeted dose levels (DL3B, 4B) • CNTY - 101 cells were detected in lymph node tumor biopsies early post - treatment • CNTY - 101 treatment demonstrated deep B cell depletion • CNTY - 101 infusions showed similar exposure in the presence or absence of endogenous lymphocytes
© 2025 19 19 Source: Company data available as of March 7, 2025; Error bars show mean “ SD on original scale, subsequently log10 transformed. Due to log scale, low values are truncated at 1. All schedule B LDC+ cycles are included; S – Screen; LOB – Limit of Blank. CNTY - 101 exposure increased with dose, sustained exposure at doses intended for CALiPSO - 1 study • Persistence, inclusive of cells outside the bloodstream, is detected via a cell - free ( cf ) DNA assay out to day 28 at dose level 4B • Multiple infusions in Schedule B drives exposure throughout the dosing cycle Transgene copies/mL of Plasma (LDC+ Cycles)
© 2025 20 20 Infusion LDC • Lymphodepleting Chemotherapy (LDC) depleted patient NK/T cell counts and drove a transient spike of IL - 15 cytokine • By post - infusion day 8, NK/T cell counts, IL - 15 concentration returned to screening level • Similar PK profile observed for each CNTY - 101 infusion within a cycle despite evident patient immune recovery • PK profile is comparable between cycles with and without LDC* *Based on a Two One - Sided T test approach (TOST) comparing log cfDNA concentration two - days post each infusion with and without LDC, and assuming equivalence bounds +/ - 25% the mean cfDNA concentration with LDC; Translational data available as of March 7, 2025; Graphs show data from 3B cohort (N=6); Lines in the top panel represent mean and shaded area represents 1*SEM; Triangles mark CNTY - 101 infusions within a Schedule B cycle, grey arrow indicates LDC; Dotted blue curve is a LOESS fit to medi ans in bottom panel; S – Screen Enabled with Allo - Evasion , CNTY - 101 infusions in dose level 3B showed similar exposure in the presence or absence of endogenous lymphocytes Lymphocyte counts and PK profile Model of Allo - Evasion enabled cellular kinetics
© 2025 21 21 Source: Company data as of March 7, 2025 CNTY - 101 cells were detected in lymph node tumor biopsies early post - treatment in Dose Level 3B and 4B CNTY - 101 iNK cells traffic to lymph nodes, observed more frequently at higher doses CAR TNFA IFNG CAR TNFA IFNG CAR CAR Day 10 Baseline CAR TNFA IFNG Scale bar 10µm CAR CAR TNFA IFNG CAR ROI #1 ROI #2 Subject from Dose Level 3B CNTY - 101 trafficking o bserved i n 3 out of 7 evaluable subjects in DL3B & DL4B CNTY - 101 cells detected by RNAscope on day 10 (two days post - second CNTY - 101 infusion)
© 2025 22 22 Source: Company data, available as of March 7, 2024 CNTY - 101 treatment demonstrated deep B - cell depletion and was associated with naive non - class switched profile of re - emergent B - cells B - cell depletion Re - emergent B - cell profile • Rapid and effective depletion of circulating B cells observed in the first cycle Re - emergent B cells show naive non - class - switched profile • Reduction of class - switched phenotypes in re - emergent B cells has been associated with SLE responses to CD19 - targeted cell therapies Graphs show data from the initial cycle of all subjects in 3B and 4B who had baseline B cell counts of 1 cell/ L or greater (N=7). Each line represents an individual subject. Data shows proportion of non - class switched ( IgD +, IgM+ or IgD+IgM +) or switched ( IgD - IgM - ) circulating B cells (CD19+ CD20+) in healthy donors (N=4) or within earliest evaluable re - emergent B cells in patients (N=4). Majority of the B cells exhibited a naïve profile ( IgD + CD27 - , data not shown) Data in r/r NHL patients supports the application of CNTY - 101 in autoimmune diseases
CNTY - 308 CAR αβ - iT cell with Allo - Evasion 5.0
© 2025 24 24 1. 2024 worldwide sales, Evaluate Pharma 2025 - 04 - 15; (2) Prescribing information: CARVYKTI®, ABECMA®, YESCARTA®, BREYANZI®, KYMRIAH ®, TECARTUS®; (3) https://doi.org/10.1182/bloodadvances.2023012549 The current CAR - T cell therapy market represents ~$4.5B worldwide sales • All currently marketed CAR - T cell therapies are patient - derived (‘primary’ or ‘autologous’) T cells delivered as a mixture of cells expressing CD4 or CD8 2 • Access remains a challenge for autologous CAR T therapies ▪ Fewer than 30% of patients eligible for CAR T cell therapy receive it 1 • An iPSC - derived allogeneic cell therapy that can recapitulate the characteristics of a CD4+/CD8+ CAR T cell provides potential to replace and expand autologous products with off - the - shelf therapy having improved time - to - treatment , reliable and consistent manufacturing process , and reduced cost of goods CARVYKTI® ($ 963 M) ABECMA® ($ 406 M) YESCARTA® ($ 1570 M) BREYANZI® ($ 747 M) KYMRIAH® ($ 443 M) TECARTUS® ($ 403 M) 2024 Worldwide Sales 1 $4.5B BCMA - targeted CD19 - targeted
© 2025 25 25 1. https://www.centurytx.com/wp - content/uploads/ASH_Heinze_iPSC - Derived - CD4 - CD8 - Final.pdf 2. Company data on file CNTY - 308 is an iPSC - derived CD19 - targeted CAR - iT intended for B - cell - mediated disease CD4+/CD8+ αβ iT - cell • CD19 - targeted CAR to target B - cells for cytotoxic depletion • 4 - 1BB and CD3z co - stim domain to stimulate expansion on target engagement • Allo - Evasion 5.0 edits designed to include protection from host T cell, NK cell, and humoral response • Native TCR knock - out to eliminate the risk of GvHD • Displays characteristics of autologous CAR - T cells 1 • Highly proliferative upon target engagement • Secretes cytokines (e.g., IL - 2, IFN , and TNF ) • Cytotoxic effector function rapidly eliminates tumor cells • Long - term persistence in vivo • Eliminates CD19+ B - cells from healthy donors in vitro 2 CNTY - 308
© 2025 26 26 https://www.centurytx.com/wp - content/uploads/ASH_Heinze_iPSC - Derived - CD4 - CD8 - Final.pdf Century’s process is designed to control the ratio of CD4+ to CD8+ while expanding differentiating engineered CAR iPSC cells to αβ CAR - T cells Ending Viability Expansion from iPSCs ( - fold) Stage 90% 3 1 48% 54,000 2 80% 860,000 3+4 77% CD8+/CD4 - CD8+ skewing CD4+ skewing Stage 3 Stage 2: CD4+CD8+ DP T cells CD8 CD4 CD8 CD4 CD8 CD4 80% CD8 - /CD4+
© 2025 27 27 CNTY - 308 1’ CAR - T Function ~2,000 ~3,000 IL - 2 secretion (pg/mL) No No Requires exogenous IL - 2/IL - 15 > 10 > 10 Repeat killing (rounds) 32 32 Persistence in blood (days) Yes Yes Tumor control after rechallenge ( in vivo) CNTY - 308 and 1’ CAR - T • Self - supports with own target - mediated IL - 2 • High functional persistence: kills for >10 rounds, persists in blood for 32+ days, controls tumor after in vivo rechallenge Source: Company data on file In preclinical studies, Century’s iPSC - derived CAR - αβ T cells show characteristics similar to primary CAR - T cells
© 2025 28 28 Effective T cell therapies require the generation of iPSC - CAR - T cells with three key in vitro cell functions Cytotoxicity: Effector function Cell expansion and persistence Therapeutic efficacy requires: Cytokine (IL2) production iPS - CAR - T 1’ CAR - T iPS - CAR - T 1’ CAR - T IL - 2 secretion (pg/ml) iPS - CAR - T 1’ CAR - T https://www.centurytx.com/wp - content/uploads/ASH_Heinze_iPSC - Derived - CD4 - CD8 - Final.pdf Century’s iPSC - derived CAR - αβT cells display the functional characteristics of adult primary T cells: in vitro activity
© 2025 29 29 1e+06 1e+07 1e+08 1e+09 1e+10 0 10 20 30 40 Days Post−Effector Infusion L u m i n e s c e n c e ( l o g a x i s ) Group PBS only 1' CAR−T iPS−CAR−T Group 1: PBS only Group 2: 1' CAR−T Group 3: iPS−CAR−T 0 10 20 30 0 10 20 30 0 10 20 30 1e+07 1e+09 1e+11 Days Post−Effector Infusion L u m i n e s c e n c e ( l o g a x i s ) Source: Company data In preclinical animal studies, Century iPSC - CAR - T cells showed comparable activity to primary CAR - T cells Complete tumor control Cytotoxicity maintained upon re - challenge with engrafted cells Measurable long - term persistence ≥1 mo 10 100 1000 PBS 1' CAR−T iPS−CAR−T Group h C D 4 5 + c o u n t p e r 1 0 0 u L w h o l e b l o o d In vivo experimental details • Disseminated Nalm6 model (1e5 cells infused) • Effectors added 3 days post - tumor infusion • 1’ CAR - T dose: 5e6 cells • iPSC - CAR - T dose: 30e6 cells • No added cytokine or small molecule support Group joined by lines d7 d21 d35 d27 tumor rechallenge Key Tumor challenge • iPSC - CAR - T persist 21 days post - infusion, • iPSC - CAR - T detectable at day 35, 7 days post - tumor rechallenge (at day 28) Tumor challenge Tumor challenge Tumor challenge Tumor challenge
Platform: iPSC cell foundry
© 2025 31 31 Century’s robust pre - clinical pipeline has potential to address critical barriers confronting cellular therapies Multiple iPSC - derived cells iPSC - enabled engineering solutions Opportunity across multiple diseases • Cytokine engineering to reduce or eliminate lymphodepletion • Enhanced Allo - Evasion enables repeat dosing, extended drug exposure and potential for durable remissions • Resistance to suppressive cytokines within the tumor • Next - generation therapies for oncology: • CD19, CD19/22 CARs • Nectin - 4, CD70, GPC3, and mesothelin CAR • High - affinity Fc receptors (enable treatment with mAbs ) • Key targets in autoimmune diseases: • CD19 Immune effector cells: • iNK • iT • αβ iT (CD4+, CD8+) Non - immune cells: • undisclosed
© 2025 32 32 Potential for long - lived memory , mediating immune surveillance GvHD risk, eliminated by knockout of T cell receptor (TCR) Greatest proliferative potential – potentially most useful for ongoing antigenic pressure Adaptive lymphocytes – capable of generating distinct functional attributes Trafficking and persistence as ‘tissue - resident T - cells’ No GvHD risk, TCR is invariant Rapid activation response and capacity for clonal expansion Bridge between innate and adaptive lymphocytes Traffic to bone marrow and secondary lymphoid tissues Little GvHD risk, naturally suppressive Less rapid and more limited expansion gives greater control over exposure – potentially more useful for short - term treatment Innate lymphocytes – most potent cytolytic capacity MCB – Master Cell Bank; GvHD – Graft vs Host Disease Century’s capability to make multiple cell types enables optimal matching of cell characteristics to indication Engineered iPSC MCBs CAR iNK cell CAR iT cell CAR αβ iT cell CD4 CD8 The right cell for the right indication(s)
© 2025 33 33 1. MAD7 Nuclease: https://www.inscripta.com/wp - content/uploads/2023/03/Liu - et - al - 2019 - Nature - Communications.pdf Precision CRISPR MAD7 - mediated sequential gene editing of iPSCs generates uniform product candidates Multiple gene edits (KO/KI) iPSC Engineered iPSC Master C ell Bank (MCB) Sequential selection steps iPSC Precision Engineering CRISPR - mediated HDR (MAD 7) Advantages of Century’s Platform Precise CRISPR - mediated homology - directed repair 1 reduces off - target integration Successive and efficient gene editing through iPSC platform avoids risky multiplex modification and structural variants • Allo - Evasion edits • Protein and cell engineering Quality control through generation of homogenous MCB establishes genomic product integrity Manufacturing begins at the MCB, confirmed to be free from genetic aberrations
© 2025 34 34 Century platform and in - house manufacturing: Pathway to scalable, profitable cell therapy Established in - house manufacturing from development to launch • Built - for - purpose 53,000 ft 2 cGMP facility • Key leaders each with 1 – 2 decades of cell therapy manufacturing expertise, from leading commercial cell therapies • In - house team facilitates aligned priorities, learnings, faster product iteration for efficiency, speed, and product quality • Builds and protects proprietary know - how • Optionality with redundant sites (in - house, active CDMO) Quality product at disruptive scale and cost of goods • Consistency : Control of manufacturing and single - donor master - cell - bank over product lifetime for batch - to - batch reproducibility • Increased cell fitness: Differentiated immune cells do not undergo excessive expansion cycles which often result in cell exhaustion • Product homogeneity : Clonal origin enables a well - characterized product • Potential to manufacture at antibody - like scale : Scalable platforms and optimized processes to maximize yield, reduce COGs, and meet demand
Estimated cash runway into 4Q27; Enhanced resources to enable key value milestones Enhanced precl inical pipeline and platform aiming to expand and multiply cell therapy value • Prioritizing development activities for CNTY - 308 for B - cell - mediated diseases • Selective expansion to non - immune cells in high impact diseases • Deep reservoir of novel iPSC - derived ‘tunable’ CD4+/CD8+ αβ T cells for long - term pipeline growth Accelerating Preclinical Pipeline Focused Clinical Execution Continuous Transformation Clinical focus with CNTY - 101 on autoimmune disorders with transformational potential • Unique profile of CD19 - targeting iNK cell product engineered with Allo - Evasion with clinical data from R/R NHL reinforcing potential in autoimmune disorders • Patient enrollment ongoing in CALiPSO - 1 trial and CARAMEL IIT advancing to patient enrollment in 3Q25 Century Therapeutics Today • CNTY - 308 T cell program expected to enter the clinic in 2026 pending successful completion of IND - enabling studies and regulatory approval • Ended 2Q25 with cash, cash equivalents, and investments of $158.5M • CNTY - 101 autoimmune clinical data expected in 2025
www.centurytx.com