IO Biotech ApS

- Based on a per-protocol interim analysis of safety and efficacy data, the Independent Data Monitoring Committee (IDMC) recommended that the trial continue without modifications - No new safety signals observed at interim analysis - Primary endpoint of progression free survival projected to be reached in the first half of 2025 Aug. 30, 2024 -- IO Biotech (Nasdaq: IOBT), a clinical-stage biopharmaceutical company developing novel, off-the-shelf, immune-modulating therapeutic cancer vaccines based on its T-win® platform, today announced that an Independent Data Monitoring Committee (IDMC) recommended continuation of the company’s pivotal Phase 3 trial (IOB-013/KN-D18; NCT05155254) of its lead investigational therapeutic vaccine, IO102-IO103, following a per-protocol interim analysis. The trial is evaluating IO102-IO103 in combination with KEYTRUDA® (pembrolizumab), Merck’s anti-PD-1 therapy, as a first-line treatment for patients with unresectable or metastatic (advanced) melanoma. Based on their review of the safety and efficacy data, the IDMC recommended that the trial continue without modifications and noted that no new safety signals were observed. The primary endpoint of progression-free survival (PFS) is projected to be reached in the first half of 2025. The per-protocol interim analysis was performed one year after 225 patients were randomized in the trial. The interim efficacy analysis was intentionally set with a high statistical bar (p≤0.005), and based on the analysis, the IDMC determined that the data did not meet the criteria to declare superiority of ORR. The trial was designed to preserve most of the statistical alpha for the trial’s primary endpoint of PFS. The PFS analysis is event-driven and will be conducted when 226 events (disease progression or death) have been reported in the trial with independent central review. With 407 patients randomized, the trial is powered at 89% to detect a 35% reduction in the risk of an event. “To date, none of the approved immunotherapeutic combinations for the treatment of advanced melanoma demonstrated statistical significance in ORR in large Phase 3 trials; nevertheless, these trials achieved statistical significance on PFS,” said Mai-Britt Zocca, PhD, President and CEO of IO Biotech. “Based on the 25.5 months median PFS we observed in the Phase 1/2 trial of IO102-IO103 in combination with a PD-1 inhibitor in advanced melanoma, with no added significant systemic toxicity than that typically seen with anti-PD-1 monotherapy, we remain optimistic about meeting the primary endpoint of PFS, projected to occur in the first half of 2025.” Igor Puzanov, MD, MSCI, FACP, Director, Center for Early Phase Clinical Trials, Chief, Division of Melanoma, Department of Medicine and Investigator for the Phase 3 Study at Roswell Park Comprehensive Cancer Center, Buffalo, New York commented, “The incidence of melanoma is on the rise and new treatments are needed. This is a novel investigational immune-modulatory therapeutic cancer vaccine combined with an anti-PD-1 therapy that has the potential to transform the treatment paradigm with a new and better option for people battling advanced melanoma. I am eagerly awaiting the PFS primary endpoint readout of this Phase 3 trial that could further validate this novel cancer vaccine’s ability to help patients with advanced melanoma who are seeking more efficacious, low treatment-induced toxicity therapy options.” Jessica Hassel, MD, Head of the Section for Dermato-Oncology at the University Hospital Heidelberg, investigator and lead enroller for the Phase 3 trial added, “We have been seeing promising results using combination immunotherapeutic treatments and I remain confident that IO102-IO103 in combination with pembrolizumab could offer new hope for treating patients with advanced melanoma. I look forward to the full readout of data at the end of this trial to further understand the full potential of this investigational therapeutic cancer vaccine combined with an anti-PD-1 agent.” Dr. Zocca continued, “We continue to be enthusiastic about the encouraging preliminary data from our Phase 2 basket trial evaluating IO102-IO103 in combination with pembrolizumab for the treatment of metastatic non-small cell lung cancer (NSCLC) or recurrent or metastatic squamous cell carcinoma of the head and neck (SCCHN). Data from the SCCHN cohort has been accepted for poster presentation at the ESMO congress, and data from the NSCLC cohort has been accepted to another medical meeting in the fall. We believe these data could provide further evidence to support the broader potential of therapeutic cancer vaccines for the benefit of patients in additional cancer indications.” IOB-013/KN-D18 (Clinical Trials.gov: NCT05155254) is an open label, randomized Phase 3 pivotal clinical trial of IO102-IO103 in combination with pembrolizumab versus pembrolizumab alone in patients with previously untreated, unresectable or metastatic (advanced) melanoma. A total of 407 patients have been enrolled from more than 100 centers across the United States, Europe, Australia, Turkey, Israel and South Africa. The primary endpoint of the study is progression-free survival, an event-driven analysis conducted when 226 events, defined as disease progression or death, have been reported in the study. Secondary endpoints include overall response rate (ORR), overall survival (OS), durable objective response (DRR), complete response rate (CRR), duration of response (DoR), time to complete response (TTCR), disease control rate (DCR), and incidence of AEs and SAEs (safety and tolerability). Biomarkers in the blood and tumor tissue will also be assessed. IO Biotech is sponsoring the Phase 3 trial and Merck is supplying pembrolizumab. IO102-IO103 is an investigational off-the-shelf therapeutic cancer vaccine designed to kill both tumor cells and immune-suppressive cells in the tumor microenvironment (TME) by stimulating activation and expansion of T cells against indoleamine 2,3-dioxygenase (IDO) positive and/or programmed death-ligand 1 (PD-L1) positive cells. The company is currently conducting a pivotal Phase 3 trial (IOB-013/KN-D18; NCT05155254) investigating IO102-IO103 in combination with pembrolizumab versus pembrolizumab alone in patients with advanced melanoma, a Phase 2 basket trial (IOB-022/KN-D38; NCT05077709) investigating IO102-IO103 in combination with pembrolizumab as first line treatment in patients with solid tumors, and a Phase 2 basket trial (IOB-032/PN-E40; NCT05280314) investigating IO102-IO103 in combination with pembrolizumab as neo-adjuvant/adjuvant treatment of patients with solid tumors. The clinical trials are sponsored by IO Biotech and conducted in collaboration with Merck, which is supplying pembrolizumab. IO Biotech maintains global commercial rights to IO102-IO103. KEYTRUDA® is a registered trademark of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA. IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating therapeutic cancer vaccines based on its T-win® platform. The T-win platform is based on a novel approach to cancer vaccines designed to activate T cells to target the immunosuppressive cells in the tumor microenvironment. IO Biotech is advancing its lead cancer vaccine candidate, IO102-IO103, in clinical trials, and additional pipeline candidates through preclinical development. Based on positive Phase 1/2 first line metastatic melanoma data, IO102-IO103, in combination with pembrolizumab, has been granted a breakthrough therapy designation for the treatment of advanced melanoma by the US Food and Drug Administration. IO Biotech is headquartered in Copenhagen, Denmark and has US headquarters in New York, New York. The content above comes from the network. if any infringement, please contact us to modify.

Clinical trial site activation, a leading indicator of patient enrollment, has accelerated in the past three months in the company’s global Phase 3 combination trial of IO102-IO103 and KEYTRUDA® (pembrolizumab) as first-line treatment in advanced melanoma Oral presentation and two poster presentations at the Society for Immunotherapy of Cancer’s (SITC) 37thAnnual Meeting this week will provide an overview of the Phase 1/2 study (MM1636) with IO102-IO103 in combination with nivolumab for metastatic melanoma and discuss preclinical work on the next two candidates in the IO Biotech pipeline, which target the immunosuppressive effects of Arginase 1 (ARG1) and Transforming Growth Factor Beta 1 (TGFβ1) Results from a new October 2022 data cut for the MM1636 Phase 1/2 study with IO102-IO103 in combination with nivolumab for metastatic melanoma continue to be encouraging with median overall survival (mOS) at 46.8 months; median progression free survival (mPFS) at 22.5 months, and a complete response rate of 50% The company ended the third quarter with $151.2 million in cash, which supports multiple expected data readouts into mid-2024 NEW YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) -- IO Biotech (Nasdaq: IOBT), a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on its T-win® technology platform, announced today financial results for the quarter ending September 30, 2022. “During the last three months, we have made significant progress with the activation of clinical sites participating in our global Phase 3 combination trial of IOB102-IO103 with pembrolizumab as a potential first-line treatment in advanced melanoma,” said Mai-Britt Zocca, Ph.D., President and Chief Executive Officer of IO Biotech. “We ended October with 55 sites actively enrolling in study, compared to 19 actively enrolling sites at the end of July. We view the pace of site activation as a leading indicator of patient enrollment, and we are very pleased with our progress.” Dr. Zocca continued, “Additionally, enrollment in our second ongoing clinical study, the Phase 2 basket trial of IO102-IO103 in combination with pembrolizumab, is progressing nicely and we continue to expect to receive preliminary data in one indication this quarter with additional data in 2023. We believe that our T-win® platform―and its novel approach to activate naturally occurring T cells to target immunosuppressive mechanisms―has the potential to benefit patients in need of more treatment options and look forward to reporting our progress in the coming months.” Highlights for Third Quarter 2022 and Recent Weeks An invited oral presentation and two poster presentations related to the company’s programs are being presented at the 2022 SITC Annual Meeting this week. See the following press release for more information, “IO Biotech ApS - IO Biotech Announces Invited Oral Presentation and Two Poster Presentations at the Society for Immunotherapy of Cancer’s (SITC) 37th Annual Meeting.”Consistent with the earlier reported data, with an additional 12 months of patient follow-up, results from a new October 2022 data cut for the MM1636 Phase 1/2 study with IO102-IO103 in combination with nivolumab for metastatic melanoma continue to be encouraging. As of that data cut-off, 30 PD-1 naïve patients were enrolled with a median follow-up time of 31.7 months. Median overall survival (mOS) was reached at 46.8 months post first trial treatment, median progression free survival (mPFS) was 22.5 months, and 50% of patients (15/30) achieved a complete response (CR), or complete disappearance of their tumors. The overall response rate for the study was 73.3%, as previously reported. Patients who were PD-1 refractory and enrolled in cohort B in this study had no response to therapy, which we believe shows that our vaccine works best in front-line metastatic melanoma patients, as we expected in this setting.In the past three months, the company has accelerated the rate of clinical trial site activation in the global Phase 3 trial of IO102-IO103 in combination with pembrolizumab for front-line treatment of PD-1 naïve metastatic melanoma patients.In October 2022, the company named Amy Sullivan as Chief Financial Officer. Ms. Sullivan brings 30 years of experience building biotech companies to IO Biotech.In November 2022, the company entered into a fourth clinical trial collaboration and supply agreement with Merck & Co., Inc., Rahway, NJ, USA (known as MSD outside the United States and Canada), through a subsidiary. See the following press release for more information, “IO Biotech ApS - IO Biotech Announces New Clinical Collaboration with Merck to Evaluate Neoadjuvant and Adjuvant IO102-IO103 in Combination With KEYTRUDA® (pembrolizumab) in a Phase 2, Multi-cohort Trial in Patients with Resectable Tumors.” Third Quarter Financial Results Net loss for the three months ended September 30, 2022 was $16.1 million, compared to $4.5 million for the quarter ended September 30, 2021.Research and development expenses were $10.1 million for the three months ended September 30, 2022, compared to $4.1 million for the three months ended September 30, 2021. The increase of $6.0 million was primarily related to an increase in preclinical studies and clinical trial-related activities for our IO102-IO103 product candidate, including the continued execution of our Phase 3 clinical trial, of $3.0 million, an increase in costs for chemistry, manufacturing and control, activities of $0.2 million, and an increase in personnel costs of $2.5 million primarily related to an increase in headcount and related recruiting costs.General and administrative expenses were $6.1 million for the three months ended September 30, 2022, compared to $2.9 million for the three months ended September 30, 2021. The increase of $3.2 million was primarily related to costs primarily associated with being a public company.Other income, net was $0.3 million for the three months ended September 30, 2022, compared to $2.6 million for the three months ended September 30, 2021. The decrease of $2.3 million was primarily due to the decrease in the fair value adjustments on the Company's preferred stock tranche obligations.Cash and cash equivalents as of September 30, 2022, were $151.2 million, compared to $211.5 million at December 31, 2021. During the third quarter 2022, the Company used cash, cash equivalents and restricted cash of $14.2 million from operating, investing and financing activities with an additional decrease of $4.8 million in cash due to the effects of foreign currency exchange rates. Cash on hand is expected to support operations through anticipated data readouts into mid-2024. About the IOB-013/KN-D18 Clinical Trial IOB-013/KN-D18 (ClinicalTrials.gov: NCT05155254) is an open label, randomized Phase 3 clinical trial being conducted in collaboration with Merck of IO102-IO103 in combination with pembrolizumab versus pembrolizumab alone in patients with previously untreated, unresectable or metastatic (advanced) melanoma. Target enrollment will be 300 patients from centers spread across Europe, Australia, and the United States. Biomarker analyses will also be conducted. IO Biotech will sponsor the Phase 3 trial and Merck will supply pembrolizumab. IO Biotech maintains global commercial rights to IO102-IO103. About IOB-022/KN-D38 Clinical Trial IOB-022/KN-D38 (ClinicalTrials.gov: NCT05077709) is a non-comparative, open label Phase 2 trial to investigate the safety and efficacy of IO102-IO103 in combination with pembrolizumab in each of the following first-line indications: non-small cell lung cancer, squamous cell carcinoma of the head and neck, and metastatic urothelial bladder cancer. The clinical trial will be sponsored by IO Biotech and conducted in collaboration with Merck. IO Biotech maintains global commercial rights to IO102-IO103. About IO102-IO103 IO102-IO103 is an investigational cancer immunotherapy designed to target the immunosuppressive mechanisms mediated by the key immunosuppressive proteins indoleamine 2,3-dioxygenase (IDO) and PD-L1. About IO Biotech IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on its T-win® technology platform. The T-win® platform is a novel approach to cancer immunotherapy designed to activate naturally occurring T cells to target immunosuppressive mechanisms. IO Biotech is advancing in clinical studies its lead immuno-oncology candidate, IO102-IO103, targeting IDO and PD-L1, and through preclinical development its other pipeline candidates. IO Biotech is headquartered in Copenhagen, Denmark and has US headquarters in New York, New York. For further information, please visit www.iobiotech.com Forward-Looking Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including regarding future clinical trials, trials results and clinical site activation, are based on IO Biotech’s current assumptions and expectations of future events and trends, which affect or may affect its business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Except to the extent required by law, IO Biotech undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise. Company Contact:Amy SullivanChief Financial OfficerIO Biotech, Inc. asu@iobiotech.com Investor Contact:Corey Davis, Ph.D.LifeSci Advisors212-915-2577cdavis@lifesciadvisors.com Media Contact:Raena Mina, Ph.D.LifeSci Communications646-606-1438rmina@lifescicomms.com KEYTRUDA® is a registered trademark of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co., Inc., Rahway, NJ, USA. IO BIOTECH, INC. Condensed Consolidated Statements of Operations and Comprehensive Loss (In thousands, except share and per share amounts) (unaudited) Three Months Ended September 30, Nine Months EndedSeptember 30, 2022 2021 2022 2021 Operating expenses Research and development $10,145 $4,128 $32,676 $13,712 General and administrative 6,101 2,914 18,740 6,127 Total operating expenses 16,246 7,042 51,416 19,839 Loss from operations (16,246) (7,042) (51,416) (19,839)Other income (expense) Currency exchange (loss) gain, net (86) 17 (392) 309 Interest income 457 — 631 — Interest expense (78) (67) (304) (210)Fair value adjustments on preference shares tranche obligations — 2,630 — (26,830)Total other income (expense), net 293 2,580 (65) (26,731)Loss before income tax expense (15,953) (4,462) (51,481) (46,570)Income tax expense 115 — 286 — Net loss (16,068) (4,462) (51,767) (46,570)Cumulative dividends on class B and C preference shares — (2,073) — (6,006)Net loss attributable to common shareholders (16,068) (6,535) (51,767) (52,576)Net loss per common share, basic and diluted $(0.56) $(36.88) $(1.80) $(296.70)Weighted-average number of shares used in computing net loss per common share, basic and diluted 28,815,267 177,200 28,815,267 177,200 Other comprehensive loss Net loss (16,068) (4,462) (51,767) (46,570)Foreign currency translation (4,696) (681) (11,722) (1,256)Total comprehensive loss (20,764) (5,143) (63,489) (47,826) IO BIOTECH, INC. Condensed Consolidated Balance Sheets (In thousands, except share and per share amounts) (unaudited) September 30,2022 December 31,2021 Assets Current assets Cash and cash equivalents $151,168 $211,531 Prepaid expenses and other current assets 6,554 10,207 Total current assets 157,722 221,738 Restricted cash 268 268 Property and equipment, net 464 155 Right of use lease asset 2,628 — Noncurrent assets 887 127 Total assets $161,969 $222,288 Liabilities, convertible preference shares and stockholders’ equity Current liabilities Accounts payable $1,769 $3,928 Lease liability - current 461 — Accrued expenses and other current liabilities 3,498 6,377 Total current liabilities 5,728 10,305 Lease liability - noncurrent 2,394 — Other long-term liabilities — 59 Total liabilities 8,122 10,364 Convertible preference shares — — Stockholders’ equity Preferred stock, par value of $0.001 per share; 5,000,000 shares authorized, no shares issued and outstanding as of September 30, 2022 and December 31, 2021 — — Common stock, par value of $0.001 per share; 300,000,000 shares authorized, 28,815,267 shares issued and outstanding as of September 30, 2022 and December 31, 2021 29 29 Additional paid-in capital 325,077 319,665 Accumulated deficit (158,048) (106,281)Accumulated other comprehensive loss (13,211) (1,489)Total stockholders’ equity 153,847 211,924 Total liabilities, convertible preference shares and stockholders’ equity $161,969 $222,288

- Preclinical data showing the rationale for two new pipeline candidates targeting the immunosuppressive effects of Arginase-1 (ARG1) and Transforming Growth Factor Beta 1 (TGFb1) were presented in two posters NEW YORK, Nov. 09, 2022 (GLOBE NEWSWIRE) -- IO Biotech (Nasdaq: IOBT), IO Biotech, a clinical-stage biopharmaceutical company developing novel, immune-modulating anti-cancer therapies based on its proprietary T-win® technology, today announced details of the invited oral presentation and two poster presentations at the Society for Immunotherapy of Cancer’s (SITC) 37th Annual Meeting. Information for the invited oral presentation: Title: Utilizing Tumor Microenvironment Antigens for Immune Modulatory Vaccines Session: Concurrent Session 119 – Vaccines: In Situ Agents and Novel Systemic Approaches Presenter: Mads Hald Andersen, Ph.D. – Professor and Director of Center for Cancer Immune Therapy at Herlev University Hospital, IO Biotech Founder and Scientific Advisor Date: Thursday, November 10, 2022 Location and time: TBD – 6:25 p.m. EST “We are pleased that Dr. Andersen has been invited to SITC to give an overview of our Phase 1/2 MM1636 study at SITC and are very encouraged that the long-term follow up data confirm the earlier results reported from this study in front-line PD-1 naïve metastatic melanoma patients,” said Mai-Britt Zocca, Ph.D., President and Chief Executive Officer of IO Biotech. “We are also thrilled to share, for the first time, preclinical data from the next two candidates in our pipeline that target ARG1 and TGFβ1, immunosuppressive antigens found in the tumor microenvironment (TME).” Dr. Zocca continued, “Based on the promising clinical results of our lead asset, IO102-103, which dually targets and disrupts immunosuppressive antigens indoleamine 2,3-dioxygenase (IDO) and anti-programmed death ligand 1 (PD-L1), we believe that targeting suppressive antigens can not only better allow T-cells to directly attack tumor cells, but also modulate the TME as an immunotherapeutic approach. We see the potential of these two new candidates to build on the strength of our T-win® platform and a path forward for Investigational New Drug filings. We look forward to providing additional updates on both our Phase 3 trial with IO102-103 in combination with pembrolizumab for metastatic melanoma and our Phase 2 basket trial in solid tumors in the coming weeks and months.” Highlights from the two preclinical poster presentations include: Title: Modulating the TME by targeting TGFb1 with vaccine-induced immune responses Abstract Number: 1182 Presenter: Brian Weinert, Ph.D., Principal Scientist IO Biotech Date: Friday, November 11, 2022 Location and time: Poster Hall C Poster Hall Hours: 9 a.m.– 8:30 p.m. EST Transforming Growth Factor Beta 1 (TGFb1) is a major immune suppressive element in the tumor microenvironment (TME) of most solid tumors. It is implicated in antagonizing the efficacy of various immune oncology therapies. Developing selective and efficacious modulators of the pathway is an ongoing challenge in the field. IO Biotech has deployed its unique approach to modulate TGFb1 activity in the TME, and the poster details the identification and characterization of highly selective TGFb1 peptide vaccines. These peptides were shown to induce potent and selective immune responses (versus TGFb2 and TGFb3). Murine TGFb1 peptide vaccines were also identified and characterized, and functional activity was preliminarily demonstrated in a relevant murine tumor mouse model (MC38). Translational work detailing content and identity of cells expressing TGFb1 and other immune suppressive antigens in the TME provided the biological rationale to target TGFb1 via a vaccine approach individually and in combination with other TME targets. These preclinical data support further development of a TGFβ1 vaccine as a TME targeted approach for the treatment of a wide range of cancers. Title: An Arginase-1 peptide-based vaccine is an exciting approach to modulate the TME and drive efficacy in preclinical tumor models Abstract Number: 1440 Presenter: Marion Chapellier, Ph.D., Senior Scientist IO Biotech Date: Friday, November 11, 2022 Location and time: Poster Hall C Poster Hall Hours: 9 a.m.– 8:30 p.m. EST Arginase-1 (ARG1) regulates immune escape of tumor cells through various mechanisms in the tumor microenvironment (TME). It is being targeted experimentally in the clinic, but selective and efficacious inhibitors of ARG1 remain elusive. IO Biotech has shown that vaccination against TME targets is an exciting new therapeutic approach and has previously identified and characterized selective ARG1 peptide vaccines. The poster highlights translational data to guide clinical development of the vaccine in the relevant cancer indications and provides a biological rationale to combine an ARG1 vaccine with other TME vaccines (IDO1/PD-L1). In addition, in vivo data demonstrated functional efficacy of the murine ARG1 vaccine in two ARG1 expressing mouse cancer models in combination with other TME vaccines. These preclinical data support further development of an ARG1 vaccine as a TME vaccine targeted approach in combination with an IDO/PD-L1 vaccine for the treatment of a wide range of solid cancers and we anticipate an IND filing for IO112 (ARG1 vaccine) in 2023. About SITC Established in 1984, the Society for Immunotherapy of Cancer (SITC) is a nonprofit organization of medical professionals dedicated to improving cancer patient outcomes by advancing the development, science and application of cancer immunotherapy and tumor immunology. SITC is comprised of influential basic and translational scientists, practitioners, health care professionals, government leaders and industry professionals around the globe. Through educational initiatives that foster scientific exchange and collaboration among leaders in the field, SITC aims to one day make the word “cure” a reality for cancer patients everywhere. Learn more about SITC at sitcancer.org About IO Biotech IO Biotech is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer therapies based on its T-win® technology platform. The T-win® platform is a novel approach to cancer immunotherapy designed to activate naturally occurring T cells to target immunosuppressive mechanisms. IO Biotech is advancing in clinical studies its lead immuno-oncology candidate, IO102-IO103, targeting IDO and PD-L1, and through preclinical development its other pipeline candidates. IO Biotech is headquartered in Copenhagen, Denmark, with its United States headquarters in New York, New York. For further information, please visit . Forward-Looking Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, including regarding future clinical trials and results, are based on IO Biotech’s current assumptions and expectations of future events and trends, which affect or may affect its business, strategy, operations or financial performance, and actual results and other events may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. Except to the extent required by law, IO Biotech undertakes no obligation to update these statements, whether as a result of any new information, future developments or otherwise. Company Contact: Amy Sullivan Chief Financial Officer IO Biotech, Inc. asu@iobiotech.com Investor Contact: Corey Davis, Ph.D. LifeSci Advisors 212-915-2577 cdavis@lifesciadvisors.com Media Contact: Raena Mina, Ph.D. LifeSci Communications 646-606-1438 rmina@lifescicomms.com