iBio (IBIO) Corporate presentation summary

Industry landscape and unmet needs

• Incretin class agonists, such as GLP-1 drugs, have transformed obesity treatment, with over 10% of American adults having used them, but challenges remain in durability, lean mass preservation, and tolerability.

• Weight loss with GLP-1s often results in loss of lean tissue, and weight regain after discontinuation increases frailty fracture risk.

• There is a growing focus on therapies that improve quality of weight loss, reduce side effects, and sustain results beyond current GLP-1 therapies.

Pipeline and portfolio strategy

• The portfolio targets multiple mechanisms to address gaps left by GLP-1s, including fat-specific weight reduction, muscle mass preservation, and reduced dosing frequency.

• Lead programs include IBIO-610 (Activin E antibody), IBIO-600 (long-acting myostatin antibody), and a Myostatin x Activin A bispecific antibody.

• Three early-stage high novelty programs and two partnered programs are in the pipeline, with rapid progression from discovery to development candidate.

• Key milestones: IBIO-610 IND-equivalent filing in 2H 2026, first patient dosed for IBIO-600 in 2Q 2026, and Myostatin x Activin A IND-equivalent filing in 1H 2027.

IBIO-610: Activin E antibody

• Targets Activin E, a hepatokine linked to adiposity and diabetes risk; genetic loss of function reduces fat and CVD risk.

• Preclinical studies show fat-specific weight loss without lean mass loss, synergistic effects with GLP-1s, and prevention of weight regain after GLP-1 discontinuation.

• Demonstrated high-affinity binding, potent inhibition, and extended half-life in non-human primates, supporting infrequent dosing.

• Non-human primate studies show selective fat reduction and lean mass preservation.