iBio (IBIO) 3rd Annual Guggenheim Healthcare Innovation Conference summary

Portfolio progress and runway

• Became clinical-stage this year after advancing myostatin into the clinic; SAD completed, with readout planned for Q1 next calendar year.

• Activin E is nearing Australian approval, with patient dosing targeted for Q1 next year; IBIO-800 is in CMC and toxicology, with an Australian filing planned for summer next year.

• GPCR and cryo-EM capabilities expand molecular interrogation; cash runway extends into Q2 2028, following a Frazier PIPE in January last year.

IBIO-610 Activin E

• NHP results showed the monkey model was translational; adding Activin E to GLP-1-driven weight loss shifted loss from 10%-20% muscle to almost exclusively fat.

• The 28-week monkey study is intended to clarify the mechanism; Activin E directly targets fat tissue rather than reducing food intake.

• Phase I-A is designed for safety and PK, with infrequent dosing, pathway-inhibition and dose correlation, and body-composition scans in obese patients; duration is insufficient to show weight loss.

• Potential uses include GLP-1 combination and weight maintenance, with possible monotherapy for patients at risk from further muscle loss; exploratory work may assess diabetes, liver fat and HFpEF biomarkers.

IBIO-600 myostatin and GDF11

• Long-acting dual inhibitor; SAD dosing reached 10 mg/kg, with benign observed adverse effects and linear exposure; half-life appeared extended, though not yet determined.

• Q1 next year readout is expected for half-life and safety; DEXA body-composition data may also be presented if it shows directional effects.

• Dual inhibition and long half-life are key differentiators; development focus is lean-mass preservation, including potential use in sarcopenic obesity.