Climb Bio (CLYM) Morgan Stanley 24th Annual Global Healthcare Conference summary

Lead program overviews and clinical progress

• Two lead assets, CLYM116 (APRIL monoclonal) and budoprutug (anti-CD19), target unmet needs in B-cell mediated diseases with large commercial potential.

• CLYM116 demonstrated best-in-class PK/PD and APRIL suppression in recent phase I data, supporting its potential in IgAN.

• Budoprutug targets CD19, offering broader B-cell depletion than CD20 and is being evaluated in MN, ITP, and SLE, with upcoming data readouts.

• Both programs have rich data calendars with multiple clinical trial readouts expected through this year and next.

CLYM116: Differentiation, dosing, and competitive positioning

• CLYM116 uses a sweeper mechanism to degrade APRIL, overcoming PK limitations of earlier agents and enabling Q12-week dosing.

• Q12-week auto-injector dosing is seen as a major advantage for patient adherence and convenience, especially for young, chronically treated patients.

• NAVIGATE-2 phase II is designed to confirm optimal dosing and APRIL suppression, with phase III planning underway in parallel.

• Safety profile is being closely monitored, with early data suggesting differentiation from BAFF-APRIL agents and lower risk of high molecular weight complexes.

• Parallel development in China accelerates global data generation and regulatory alignment.

Market landscape and future opportunities

• IgAN market is rapidly expanding, with guidelines driving increased diagnosis and combination therapy approaches.

• CLYM116 is positioned as a best-in-class APRIL-only agent, with commercial focus on ease of use and patient-centric features.

• Broader potential exists for CLYM116 in other APRIL-mediated diseases, with ongoing evaluation of opportunities beyond IgAN.

• Budoprutug’s subcutaneous administration is being explored to broaden patient appeal and market reach.

• Strong financial position with $239 million in cash and a runway into the second half of 2028 supports rapid development of both lead programs.