Climb Bio (CLYM) Stifel Virtual Immunology and Inflammation Forum summary

Company overview and strategy

• Focuses on developing monoclonal antibodies for immunology and inflammation (I&I) indications, targeting large commercial opportunities and unmet needs with validated platforms.

• Lead programs include Budo, a CD19-targeted B-cell depleting monoclonal antibody, and CLYM116, an APRIL-targeted monoclonal antibody.

• Emphasizes the potential of monoclonal antibodies in B-cell mediated diseases, highlighting manufacturing scalability, safety, and physician familiarity.

• Sees opportunity for multiple modalities (antibodies, CAR T, T-cell engagers) in the CD19 space, focusing on patient and physician needs rather than a zero-sum approach.

• Maintains a philosophy of staying focused on unmet needs and the fastest path to patients.

CD19 and B-cell depletion landscape

• CD19 was historically overlooked in favor of CD20 due to oncology focus, but recent data show strong efficacy in autoimmune diseases.

• CD19 is expressed in a broader subset of B-cells, including plasmablasts and some plasma cells, making it attractive for immunology.

• Growing comfort in immunology with B-cell depletion, as risks previously associated with such therapies have not materialized.

• Uplizna is the first CD19-targeted depleter in I&I; Budo is positioned as the second, with rapid progress in new indications.

Differentiation and development of Budoprutug

• Budo has higher affinity for CD19 and is partially afucosylated, affecting ADCC potency and NK cell engagement.

• Formulated for subcutaneous administration and lacks CDC, potentially reducing infusion-related reactions.

• Dose escalation studies are designed to optimize depletion of both peripheral and tissue-resident B-cells, aiming for disease-free remission.

• Safety experience from oncology supports higher dosing without cytokine release limitations.