Chemomab Therapeutics (CMMB) investor relations material

Strategic overview and merger announcement

• Nebokitug, a first-in-class monoclonal antibody targeting CCL24, has shown broad anti-inflammatory and anti-fibrotic activity in clinical studies, especially in moderate to advanced disease after 15 and 48 weeks of treatment.

• A merger with Scipher Medicine was announced to leverage Scipher's precision medicine and data analytics capabilities, aiming to advance nebokitug into the rheumatoid arthritis (RA) market, which has significant unmet needs.

• The combined company will operate as Scipher Medicine Corporation, with Scipher shareholders owning 68% and Chemomab shareholders 32%, and will be listed on Nasdaq under the ticker SCIP.

• The merger includes $30 million PIPE financing at a $150 million pre-PIPE valuation, providing funding through the anticipated phase II RA readout in the first half of 2028.

• Chemomab shareholders will receive contingent value rights tied to future development milestones.

Clinical and scientific rationale

• Nebokitug targets both inflammation and fibrosis, addressing gaps left by current RA therapies, which mainly focus on inflammation.

• CCL24 levels are elevated in severe arthritis and correlate with disease progression and need for advanced therapies.

• Blocking CCL24 with nebokitug is expected to modulate both inflammatory and fibrotic pathways, supported by preclinical and clinical data.

• Phase II PSC study showed nebokitug reduced RA-associated biomarkers, including those relevant to TNF and IL-6 signaling, adaptive immunity, and fibrosis.

• Preclinical models demonstrated that CCL24 inhibition reduces arthritis severity, synovial inflammation, and joint damage.

Precision medicine and platform integration

• Scipher's Spectra platform uses AI and proprietary RA data to identify and prioritize therapeutic targets, supporting biomarker discovery and companion diagnostic development.

• PrismRA, Scipher's CMS-approved molecular test, guides RA treatment selection and has been used by 1,700 rheumatologists for 50,000 tests.

• The merger enables a precision medicine approach, using PrismRA to identify RA patients most likely to benefit from nebokitug.

• The combined company will leverage Scipher's clinical infrastructure, including a network of over 30 RA clinical sites.

• Plans include expanding the PrismRA diagnostic business and developing next-generation companion diagnostics.