Jasper Therapeutics : Corporate Presentation March 2024

Jasper Therapeutics

Corporate Presentation

March 2024

Safe Harbor Statements

Forward-Looking Statements

This investor presentation and any accompanying oral presentation (together, this "Presentation") contain forward-looking statements. All statements other than statements of historical fact contained in this Presentation, including statements regarding the future opportunities and prospects of Jasper Therapeutics, Inc. (together with its subsidiary, "Jasper" or the "Company"), including milestones, potential regulatory filings and the anticipated timing thereof, patient enrollment, future timelines, business strategy, and plans and objectives for future operations, are forward-looking statements. Jasper has based these forward-looking statements on its estimates and assumptions and its current expectations and projections about future events. These forward- looking statements are subject to a number of risks, uncertainties and assumptions, including those contained in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2022, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that the Company has subsequently filed or may subsequently file with the SEC. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this Presentation are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Jasper undertakes no obligation to update publicly or revise any forward-looking statements for any reason after the date of this Presentation or to conform these statements to actual results or to changes in Jasper's expectations.

Industry and Market Data

Certain data in this Presentation was obtained from various external sources, and neither the Company nor its affiliates, advisers or representatives has verified such data with independent sources. Accordingly, neither the Company nor any of its affiliates, advisers or representatives makes any representations as to the accuracy or completeness of that data or undertakes any obligation to update such data after the date of this Presentation. Such data involves risks and uncertainties and is subject to change based on various factors.

Trademarks

The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company.

Briquilimab is an investigative
drug and is not approved
for any indication	2

Briquilimab: Franchise Potential in Mast Cell Diseases

c-	Kit inhibition	• Mast cells are key drivers in immunological and dermatological diseases with high unmet need
•	Mast cell depletion has distinct potential to deliver safe and durable disease control
a	promising new
MOA in mast cell	•	c-Kit inhibition is the only therapeutic mechanism shown to significantly deplete mast cells
		diseases	•	c-Kit inhibition has demonstrated clinical proof of concept in multiple mast mediated diseases
		Briquilimab	• Briquilimab is a potent c-Kit inhibitor proven to drive mast cell depletion
		•	Briquilimab could allow for less frequent dosing
	a	potent c-Kit
	•	Dosing and PK profile could minimize unwanted adverse effects
		inhibitor
		• Therapeutic potential extends beyond mast cell diseases into stem cell diseases
	Robust pipeline	•	CSU: First patient dosed in Phase 1b/2a BEACON study (initial data expected 3Q 2024)
	multiple company-	•	CIndU: Phase 1b/2a SPOTLIGHT study initiating 1Q 2024 (initial data expected 2H 2024)
		led clinical
		•	LR-MDS: Phase 1 trial in the US ongoing (initial data expected by mid-year 2024)
		programs

NON-CONFIDENTIAL

Briquilimab is an investigative
drug and is not approved
for any indication	3

Expanded portfolio presents exciting new opportunities in mast cell diseases

Indication		Sponsor	Research	Preclinical	Clinical		Program Milestones
Briquilimab
Mast Cell Diseases (Subcutaneous)
						•	IND cleared; EU CTA authorized
Chronic Spontaneous Urticaria						•	Enrolling patients
						•	Initial clinical data expected in 3Q 2024
						•	EU CTA authorized, site activation underway
Chronic Inducible Urticaria						•	FPI expected in Q1 2024
						•	Initial clinical data expected in 2H 2024
Stem Cell Diseases (Intravenous)
Low-to-Intermediate Risk MDS						•	Enrolling patients
					•	Initial clinical data expected by mid-year 2024
SCID						•	Enrolling patients
					•	Potential BLA filing
Fanconi Anemia						•	First 4 patients achieved full chimerism & count recovery
					•	Expansion to Phase 2a (enrolling)
Sickle Cell Disease						•	First 3 patients with full chimerism & Hb increase (enrolling)
Chronic Granulomatous Disease						•	Enrolling patients
GATA2 MDS						•	Study start up
							Investigator Sponsored Studies

Jasper maintains full worldwide rights to develop and commercialize briquilimab in all indications

Briquilimab is an investigative
drug and is not approved
for any indication	4

Mast cells are key drivers of the inflammatory response in a number of allergic and dermatologic diseases

• Mast cells are the most potent drivers of inflammatory response in skin, lungs and gut
• Activated mast cells release pro-inflammatory compounds that drive diseases such as Chronic Spontaneous Urticaria, Chronic Inducible Urticaria, Asthma and many others
• Current approved therapies targeting mast cell driven diseases have limited efficacy and limited durability of response

	Briquilimab is an investigative
	drug and is not approved
Theoharides et al. N Engl J Med. (2015)	for any indication	5

Depletion of mast cells by anti-c-Kit monoclonal antibody blockade is a novel approach to treat urticarias and other mast cell mediated diseases

• SCF signaling through c-Kit prevents mast cells apoptosis via the Bim-mediated pathway1
• Blockade of c-Kit signaling on mast cells leads to organized cell death and phagocytic clearance2
• • Partial c-Kit inhibition blunts mast cell activation
• Aglycosylated c-Kit antibodies avoid indiscriminate ADCC driven killing of other c-Kit expressing cells3
• Unwanted effects on other c-Kit expressing cells can be minimized by the recovery of c-Kit signaling once the mast cells are depleted

1. Moller C et al. Blood (2005)
2. Hundley TR et al. Blood (2004)

3. Arnold JN et al. Annu Rev Immunol (2007)

Briquilimab-Mediated

Mast Cell Apoptosis

Briquilimab is an investigative
drug and is not approved
for any indication	6

Briquilimab potently blocks c-Kit signaling leading to durable mast cell depletion

Mast cell survival assay1

• Briquilimab is an aglycosylated IgG1 anti c-Kit antibody with high affinity to c-Kit (Kd <5pm)
• Briquilimab potently blocks c-Kit signaling by blocking the SCF ligand binding site on the receptor and triggering apoptosis
• Mast cell depletion occurs within hours to days

	Briquilimab is an investigative
	drug and is not approved
1 Jasper internal data	for any indication	7

Briquilimab delivered with a single subcutaneous injection significantly depletes skin mast cells in humans

• A single subcutaneous dose at / above ~80mg potently depletes mast cells in the skin of healthy volunteers
• Skin mast cell depletion highly correlated to serum briquilimab exposure after subcutaneous administration
• Significant depletion by day 7, with durable response lasting at least 29 days
• Once depleted with an anti-c-Kit antibody, skin mast cells take at least 3 months to recover, potentially leading to durable disease control2

Skin mast cell depletion 4 weeks after single dose (≥42 mg)1

Briquilimab Healthy Volunteer Phase 1 Subcutaneous Study

				Dose (mg)
10 mg 40 mg	80 mg 120 mg	180 mg	240 mg	Briquilimab CSU Phase
				1b/2a study doses
40 mg	120 mg			Briquilimab CIndU Phase
				1b/2a study doses

1	Jasper internal data (Phase 1a, healthy volunteer study); Dose is adjusted to body weight (mg/kg) on graph. Skin biopsies were used to count mast cells.	Briquilimab is an investigative
drug and is not approved
2	Maurer et al, GA²LEN Global Urticaria Forum - Berlin, December 6, 2022	for any indication	8

Briquilimab's favorable pharmacokinetic properties may enable optimal biologic dosing

• Briquilimab is designed to minimize unwanted c-Kit-related effects
• Subcutaneous dosing leads to predictable PK profile
• Low frequency of ADAs and do not appear to affect PK
• Drug elimination profile is favorable for minimizing off target effects
• • Clearance to allow for return of c-Kit signaling once the mast cells are depleted
  • No modifications to extend FcRn recycling

Pharmacokinetics (≥10 mg)1

Briquilimab Healthy Volunteer Phase 1 Subcutaneous Study

	Briquilimab is an investigative
	drug and is not approved
1 Jasper internal data (Phase 1a, healthy volunteer study)	for any indication	9

Briquilimab safety profile to-date supports development in a wide variety of mast cell diseases

• c-Kitis expressed on mast cells, hemopoietic stem cells, melanocytes, taste buds, spermatogonia and Cajal (GI) cells, which all may be impacted by anti-c-Kit agents
• Briquilimab's favorable elimination kinetics may allow for an improved safety profile on these other cell types

Relevant Preclinical & Clinical Experience

• NHP Chronic Toxicology Study
• • Paleness in skin & fur, depletion of colonic mast cells, decrease in reticulocytes and RBC mass, impact on spermatogenesis
  • All effects, except for paleness in skin/fur, reversible at highest dose of 300mg/kg weekly for 26 weeks
• Healthy Volunteer Subcutaneous Studies (n=77 briquilimab-treated)
• • TEAEs in the HV studies, in the highest frequency of reporting, were Headache, Nausea, Upper Respiratory Tract Infection, Back Pain and Dizziness
  • • All were mild or moderate in severity and all resolved with no medical intervention
  • One Grade 3 allergic reaction reported

Briquilimab is an investigative
drug and is not approved
for any indication	10