Purple Biotech Announces AI Collaboration with Converge Bio to Accelerate Development of its Next-Generation Tri-Specific Antibody Platform

Collaboration leverages Converge Bio's proprietary generative AI to design and optimize novel tri-specific antibodies for oncology needs

AI-driven development strategy designed to significantly accelerate discovery timelines and enhance molecule quality for drug candidates targeting solid tumors

REHOVOT, Israel and BOSTON, Mass., March 25, 2026 -- Purple Biotech Ltd. ("Purple Biotech" or "the Company") (NASDAQ/TASE: PPBT), a clinical-stage company developing a next-generation immunotherapy platform designed to maximize anti-cancer potency while minimizing toxicity, today announced a collaboration with Converge Bio, a company known for its leading AI platform for drug discovery and development, to accelerate and enhance Purple Biotech’s next-generation tri-specific antibody platform leveraging advanced generative AI capabilities.

Key Highlights:

• Next-generation platform: New collaboration focused on further developing the Company’s tri-specific antibody platform by incorporating AI-driven molecule design and optimization
• Accelerated development: AI-powered approach designed to significantly reduce discovery timelines while improving candidate quality and developability profiles
• Strategic expansion: Broadens Purple Biotech's platform capabilities to address additional high-value oncology targets and resistance mechanisms
• Validated AI partner: Converge Bio has completed over 40 programs with pharmaceutical and biotech companies

"We are excited to expand our relationship with Converge Bio, whose AI platform has already contributed valuable insights to our CAPTN-3 platform," said Gil Efron, Chief Executive Officer of Purple Biotech. "This collaboration is a natural extension of Purple Biotech’s strategy to lead innovation in multi-specific antibody therapies. By integrating Converge Bio's generative AI with our deep expertise in tumor immunology and conditional activation, we aim to develop next-generation therapeutics that can address some of oncology's most challenging targets with improved speed and precision. This collaboration positions Purple Biotech at the intersection of cutting-edge AI-driven drug discovery and innovative immuno-oncology, potentially accelerating our path to generate differentiated, high-quality therapeutic candidates with an improved probability of clinical success."

The collaboration will utilize Converge Bio's proprietary AI platform, which integrates large-scale biological data with predictive modeling and iterative learning, to design and optimize antibody candidates. The CAPTN-3 platform has demonstrated the ability to generate novel, high-affinity antibodies and optimize protein sequences for improved manufacturability and developability. Purple Biotech will apply these AI-driven insights to develop novel T cell engagers, with the goal of creating drug candidates that combine optimal functional properties with favorable physicochemical characteristics.

This next-generation platform is designed to complement and build upon insights gained from Purple Biotech's existing CAPTN-3 technology, which generates masked tri-specific antibodies that engage both T cells and NK cells. By leveraging AI to accelerate antibody design and optimization, Purple Biotech aims to expand its pipeline with additional high-quality candidates while reducing development timelines.

"Purple Biotech's CAPTN-3 platform represents an innovative approach to immuno-oncology, and we're thrilled to deepen our collaboration with Purple Biotech as they advance their next-generation tri-specific antibody capabilities," said

"Our AI platform is purpose-built to tackle the complex challenges of antibody engineering - from achieving optimal binding kinetics to ensuring manufacturability at scale. This collaboration exemplifies how AI can accelerate the development of sophisticated biologics that have the potential to make a meaningful difference for cancer patients."

Converge Bio is an AI platform that enables biotech and pharmaceutical companies to accelerate drug discovery and development. Founded in 2024, Converge Bio's 40-person team has deep expertise in machine learning, computational biology, and drug development; about half hold advanced degrees in related fields. CEO Dov Gertz developed a machine-learning method for discovering novel CRISPR systems, leading to a U.S.-licensed patent and a scientific publication in collaboration with Nobel laureate Jennifer Doudna. CSO Iddo Weiner holds a PhD in Bioinformatics and Biomedical Engineering, and has led the development of two drug programs through positive Phase 2 clinical readouts. CTO Oded Kalev previously led cybersecurity AI teams and has advised U.S. government agencies on large-scale generative AI applications.

CAPTN-3, Purple Biotech's lead program, is a platform of masked tri-specific antibodies that simultaneously target tumor-associated antigens while engaging both T cells and NK cells. Proprietary capping technology confines immune activation to the tumor microenvironment by masking the CD3-binding arm in circulation and activating it only at the tumor site, significantly expanding the therapeutic window versus unmasked T-cell engagers. The platform’s lead candidates, IM1240 (targeting 5T4) and IM1305 (targeting TROP2), are in preclinical development.

Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a clinical-stage company developing a next-generation immunotherapy platform designed to maximize anti-cancer potency while minimizing toxicity. The Company is focused on advancing its lead program, CAPTN-3 - a platform of masked tri-specific antibodies that simultaneously target tumors while engaging both T cells and NK cells. Capping technology confines immune activation to the tumor microenvironment, significantly expanding the therapeutic window compared to conventional T-cell engagers. The platform’s lead candidate, IM1240, is advancing toward the clinic, and its second candidate, IM1305, is in preclinical development. The Company’s pipeline also includes additional clinical-stage assets, for which further development is pending partnering or investment, including CM24, a CEACAM1-blocking antibody that demonstrated improved outcomes across all efficacy endpoints in a Phase 2 study for the treatment of pancreatic ductal adenocarcinoma, and NT219, a dual IRS1/2 and STAT3 inhibitor in a Phase 2 study for the treatment of recurrent and/or metastatic squamous cell carcinoma of the head and neck. The Company is headquartered in Rehovot, Israel.