SL Science Holding Limited Reports Full Year 2025 Financial Results

Nasdaq-Listed SL Science Announces 2025 Annual Financial Results

Taipei, Taiwan, June 18, 2026 — SL Science Holding Limited (Nasdaq: SLBT), a Taiwan-headquartered biomedical company specializing in innovative cellular and gene therapies, today announced our financial results for the full year ended December 31, 2025.

Management Commentary

"2025 was a highly transformative and foundational year for us as we aggressively advanced our core cell therapy pipeline and executed our long-term strategic shift toward next-generation immunotherapies. Throughout the year, we strategically prioritized high-value clinical research and development, committing over $2.07 million to expand our proprietary cell platforms — including our off-the-shelf gamma delta (γδ) T cell (GDT) culture platform, a ready-to-use treatment designed to target significant unmet medical needs in brain, pancreatic, and blood cancers with scalable manufacturing and reduced cost. As part of this transition, we restructured our commercial model from direct retail sales toward corporate distribution channels in Asia. While this pivot temporarily impacted our top-line revenue, it effectively freed operational bandwidth to drive our therapeutic programs forward," said Mr. William Wang Ching-Dong, Chairman and Chief Executive Officer of SL Science.

"We entered 2026 with tremendous momentum, culminating in the completion of our business combination and successful listing on the Nasdaq Global Market. This milestone, combined with our concurrent $7.8 million PIPE financing, provides the enhanced financial flexibility to accelerate our growth strategy — attracting top-tier global scientific talent, facilitating potential strategic acquisitions, and supporting our near-term clinical operating requirements."

"Looking ahead, our focus is squarely on regulatory preparedness and preclinical execution. For our CD-19 Armed-T program targeting CD19-positive B-cell cancers, we are actively addressing FDA feedback through additional nonclinical validation and manufacturing scale-ups, targeting a Pre-IND meeting and formal IND submission in Q1 2027. Our Unmodified γδ T cell platform is simultaneously progressing through technical transfers to an FDA-compliant CDMO. Unlike traditional autologous therapies, our γδ T cell approach is designed to create scalable, ready-to-use treatments — aiming to address the high costs and production delays currently facing the oncology market. Our ultimate vision is to establish SL Science as a global clinical leader through breakthrough cellular innovations."

Full Year 2025 Financial Highlights

Net Revenue decreased 35% to approximately $2.20 million for the year ended December 31, 2025. This reflects our planned business transformation in Taiwan — shifting from direct retail sales of exosome concentrate products to a corporate wholesale distribution model, allowing us to redeploy resources toward our clinical R&D pipeline.

Cost of Revenue decreased slightly by 1% to approximately $1.42 million, reflecting an increased share of lower-margin corporate wholesale volumes throughout the year.

Gross Profit decreased 60% to approximately $0.78 million, impacted by our structural wholesale transition and product mix revisions.

Total Operating Expenses increased 47% to approximately $4.61 million, driven primarily by a 123% increase in general and administrative expenses as we expanded our management team. Our research and development expenses remained robust at approximately $2.07 million, supporting parallel validation for our CD-19 Armed-T and γδ T cell therapy programs.

Net Loss for 2025 was approximately $3.82 million, compared to $1.19 million in 2024, resulting from the combination of adjusted wholesale revenues and expanded administrative infrastructure costs as we build toward our clinical milestones.

Cash, Cash Equivalents and Restricted Cash stood at approximately $1.26 million as of December 31, 2025, compared to $4.14 million a year earlier, primarily reflecting $1.91 million utilized in operating activities and $0.88 million in deferred offering costs related to our Nasdaq listing process.

Major Developments and Outlook

Gamma Delta (γδ) T Cell (GDT) Innovation Platform

DMF Status: We maintain an active U.S. FDA Drug Master File (DMF #041080) for our Unmodified Vδ2+ γδ T cell technology framework, licensed from JY BioMed, supporting future regulatory interactions.

CDMO Scale-Up: We completed manufacturing tech-transfer to an FDA-compliant CDMO in July 2025, followed by successful installation of a closed-system alpha-beta T-cell depletion infrastructure in February 2026.

Preclinical Status: We submitted import review documentation to the Taiwan FDA (TFDA) in May 2026 for clinical-grade manufacturing reagents. GLP toxicology evaluations are scheduled to initiate following Q1 2027 reagent delivery, with a targeted IND filing in Q3 2027.

Recent Corporate Milestones

Nasdaq Listing: On June 12, 2026, we successfully closed our business combination with Horizon Space Acquisition II Corp. Our ordinary shares commenced trading on the Nasdaq Global Market under the ticker symbol "SLBT."

Capital Formation: We concurrently closed a $7.8 million PIPE financing to accelerate our growth strategy and fund ongoing clinical R&D initiatives.

About SL Science Holding Limited

SL Science Holding Limited is a biomedical company specializing in developing innovative cellular and gene therapies. With proprietary technologies including gamma delta (γδ) T cells — licensed from JY BioMed — targeting solid tumor indications such as brain and pancreatic cancers, and CD-19 Armed-T therapy — licensed from CytoArm — targeting CD19-positive B-cell cancers, we aim to create cellular therapies with the potential to revolutionize the cell therapy and immuno-oncology sector. Where treatment begins, beyond limits.

For more information, please visit: www.slbtgroup.com

IR Contact: ir@slbtgroup.com

Tel: +886-2-26516826