Leading the Next Evolution of Immunotherapies

March 2024

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Notice: Forward Looking Statements

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on historical fact and include statements regarding our platform technology and potential therapies; the timing of and results from clinical trials and preclinical development activities; clinical and regulatory objectives and the timing thereof; expectations regarding the sufficiency of cash, cash equivalents, restricted cash, and investments, along with proceeds from our November 2023 follow-on equity offering, to fund our planned operations into 2026; our ability to achieve additional milestones in our collaborations and proprietary programs; the progress and potential of our development programs; future development plans and clinical and regulatory milestones and objectives, including the timing and achievement thereof; the efficacy of our clinical trial designs; anticipated enrollment in our clinical trials and the timing thereof; expectations regarding the anticipated reporting of data from our ongoing and planned clinical trials and potential publication of future clinical data; our ability to potentially advance povetacicept directly into a pivotal trial in 2024 as well as a phase 2 study in systemic lupus erythematosus, pending engagement with and approval of the FDA; and the potential efficacy, safety profile, addressable market, regulatory success and commercial or therapeutic potential of our product candidates. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions and include words such as "may," "will," "should," "would," "expect," "plan," "intend," and other similar expressions, among others. These forward-looking statements are based on current assumptions that involve risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from those expressed or implied by such forward-looking statements. These risks and uncertainties, many of which are beyond our control, include, but are not limited to: clinical trials may not demonstrate safety and efficacy of any of our product candidates; our ongoing discovery and preclinical efforts may not yield additional product candidates; our discovery stage and preclinical programs may not advance into the clinic or result in approved products; any of our product candidates may fail in development, may not receive required regulatory approvals, or may be delayed to a point where they are not commercially viable; we may not achieve additional milestones in our proprietary or partnered programs; the impact of competition; adverse conditions in the general domestic and global economic markets; we may be unable to advance povetacicept directly into a pivotal trial or a phase 2 study in systemic lupus erythematosus in 2024; the impact of pandemics, or other related health crises on our business, research and clinical development plans and timelines and results of operations, including the impact on our clinical trial sites, collaborators, and contractors who act for or on our behalf; as well as the other risks identified in our filings with the Securities and Exchange Commission. These forward- looking statements speak only as of the date hereof and we undertake no obligation to update forward-looking statements, and readers are cautioned not to place undue reliance on such forward-looking statements.

"RUBY" and the Alpine logo are registered trademarks or trademarks of Alpine Immune Sciences, Inc. in various jurisdictions.

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Unless otherwise indicated, all data presented herein has been derived from research conducted by Alpine Immune Sciences, Inc.

OUR MISSION

United to create and deliver transformative novel therapies for serious autoimmune and inflammatory diseases

OUR VISION

We will be recognized for our ingenious protein engineering, courageous passion for immunology, and trailblazing interrogation of critical immunological pathways, resulting in innovative medicines that revolutionize patient care

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DEVELOPING NOVEL THERAPIES FOR

AUTOIMMUNE AND INFLAMMATORY DISEASES

POVETACICEPT SUMMARY:

PoC data achieved in IgAN at 80 mg SC Q4W

  • Best-in-classpotential with dual BAFF/APRIL blockade
  • Convenient once every four-week dosing regimen
  • Phase 3 in IgAN targeted to begin in 2H 20241
  • Potential best-in-class profile enables broad development plan in multiple autoimmune diseases
  • Regular cadence of catalysts anticipated throughout 2024
  • Wholly-owned,internally discovered program with composition of matter IP to 20412

$368M cash and investments as of 12/31/2023

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Subject to engagement with and approval of regulatory authorities

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2

Additional opportunity for patent term extension (PTE)

Povetacicept (ALPN-303)

Dual B Cell Cytokine Antagonist

5

Dual BAFF/APRIL Inhibition for Potentially Superior Clinical Outcomes

Improved Targeting of Pathogenic B Cells (Memory, Plasmablasts, Plasma Cells) and Autoantibodies

Centrocyte Memory

Plasmablast

Plasma cell

λ5

IgM

IgM IgD

IgM

IgD

IgM, IgA, IgG, or IgE

Large

Small

Pro-BPre-B

Pre-B-II

Immature

Transitional

Naïve

Centroblast

Pathogenic Autoantibodies

Therapeutics Approved or in Development

CD20

CD20-depleting mAbs

Dual BAFF/APRIL

BAFF-R

BAFF only:

Anti-BAFF mAbs

Inhibitors in Development

Povetacicept

BCMA

BAFF + APRIL

Anti-APRIL mAbs

Atacicept (TACI-Ig)

TACI

Telitacicept (TACI-Ig)*

INCREASING DEVELOPMENT

*Granted conditional approval in China to treat SLE

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Adapted from Nat Rev Neurol 8:613, 2012

Povetacicept: BAFF/APRIL Inhibitor Enables Broad Development Plan Across Multiple Therapeutic Areas

APRIL

ACTIVATED

PLASMABLAST/

B CELL

SHORT-LIVED

PLASMA CELL

BAFF

Povetacicept

Neutralizes both

BAFF & APRIL

LONG-LIVED PATHOGENIC

PLASMA CELL ANTIBODY PRODUCTION

THERAPEUTIC AREAS

Autoimmune

Bullous Diseases

(e.g., pemphigus, pemphigoid)

Glomerulonephritis

(e.g., IgAN, pMN, LN, AAV)

Red Blood Cells

Platelets

skin

Autoimmune Cytopenias

heart

(e.g., ITP, wAIHA, CAD)

kidneys

Connective

blood

Tissue

muscles

Disease

joints

(e.g., SLE, Sjögren's,

vasculitis)Autoimmune

Neurological Diseases (e.g., myasthenia gravis, autoimmune encephalitis, NMOSD)

IgAN IgA nephropathy

pMN Primary membranous nephropathy

LN Lupus nephritis

SLE

Systemic lupus erythematosus

wAIHA Warm autoimmune hemolytic anemia NMOSD Neuromyelitis optica spectrum disorder 7

AAV ANCA-associated vasculitis

ITP

Immune thrombocytopenia

CAD Cold agglutinin disease

Povetacicept Demonstrates Best-In-Class Inhibitory Potential

Relative to Data From Comparator Molecules Targeting BAFF / APRIL Pathway

IC (nM)1

50

Reagent

APRIL

BAFF

APRIL + BAFF

Povetacicept (ALPN-303)

3.8

1.4

3.1

WT TACI-Fc2

>200

20.8

>200

Telitacicept3 (Tai'ai®)

53.9

14.5

>200

Anti-APRIL mAb4

21.9

CNBD

>200

Anti-APRIL mAb5

5.1

CNBD

CNBD

Belimumab (Benlysta®)

CNBD

4.8

CNBD

Belimumab + Anti-APRIL mAb4

18.9

4.8

10.8

TACI/Jurkat/NF-κB Functional Assay

APRIL BAFF

Extracellular TACI

Cytoplasm

NF-KB

Luciferase

Activation

NF-KB Nucleus

Luciferase

Reporter

1 TACI/Jurkat/NF-kB reporter assay prepared for preclinical evaluation purposes

2 WT TACI 30-110-Fc; generated by ALPN using published atacicept sequence (SEQ ID NO: 54 of US Patent 8,815,238 B2)

3 WT TACI 13-118-Fc, as identified in WHO Drug Information, Vol. 32, No. 4, 2018 and confirmed by mass spec/peptide sequencing on Tai'ai® 4 Generated by ALPN using published zigakibart (BION-1301) sequence (SEQ ID NO: 50 and 52 from US Patent Appl. US 2020/0079859)

5 Generated by ALPN using published sibeprenlimab (VIS649) sequence (https://www.imgt.org/3Dstructure-DB/cgi/details.cgi?pdbcode=11575) CNBD, could not be determined

Source: Arthritis Rheumatol 75:1187 (2023) and ALPN data on file

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Dual BAFF/APRIL Inhibition Provides Superior Preclinical Efficacy

NZB/W Murine Lupus and Murine Experimental Autoimmune Myasthenia Gravis (EAMG)

Autoimmune Hemolytic

Murine Experimental

Lupus Nephritis / GN

α

Anemia

Autoimmune Myasthenia Gravis

IFN -Accelerated NZB/W F1

IFNα-Accelerated NZB/W F1

Renal Histology

Lesions

15

10

Renal

5

Total

0

control

-mCD20

Telitaciceptanti

Fc

Povetacicept

Hemoglobin

15

(g/dL)

Hemoglobin

10

5

Povetacicept

control

Telitaciceptanti

Fc

-mCD20

2.0

Fc Control

- 4)

Anti-CD20

Efgartigimod

1.5

Povetacicept

1.0

0.5

ScoreClinical(0 MeanSE±

0.0

30

45

60

75

90

Day After 1st Immunization

Blair et al. ACR 2023

Blair et al. ACR 2023

Source: Dillon et al. AANEM 2023

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Povetacicept Mediates On-Target Effects in Healthy Adults

Well-tolerated as Single 80-240 mg Subcutaneous Doses; Pharmacodynamics Support Q4W Dosing

Target Coverage

Mean Drug Free:TotalAPRIL (normalized % ofbaseline)

1

80 mg SC

240 mg SC

0.1

0.01

Free/Total APRIL

0

4

Weeks Post-Dose

Mean Drug-Free:TotalBAFF (normalized % ofbaseline)

1

0.1

0.01

0.001

Free/Total BAFF

0

4

Weeks Post-Dose

Ig Reductions

% Change fromBaseline (Mean ± SD)

0

80 mg SC

240 mg SC

-20

-40

-60

IgA

0

4

Weeks Post-Dose

% Change fromBaseline (Mean ± SD)

0

-20

-40

-60

IgM

0

4

Weeks Post-Dose

Gd-IgA1 Reduction

%Change from Baseline (Mean+SD)

0

80 mg SC

240 mg SC

-20

-40

-60

Gd-IgA1

0

4

Weeks Post-Dose

Antibody Secreting Cell

Reduction

Change fromBaseline

-20

80 mg SC

(Mean+SD)

240 mg SC

-40

-60

-80

ASCs

%

-100

0

4

Weeks Post-Dose

Dillon et al,

IIgANN 2023

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Disclaimer

Alpine Immune Sciences Inc. published this content on 18 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2024 20:26:05 UTC.