Jade Biosciences (JBIO) Investor Update summary

Financial and Operational Update

• Secured $135 million in private financing, extending cash runway into the first half of 2028.

• Funding supports clinical development of JADE101, JADE201, and JADE-003, as well as general corporate expenses.

• The pipeline includes JADE101 (APRIL inhibitor in phase I), JADE201 (anti-BAFF-R antibody), and JADE-003 (undisclosed antibody program), with exclusive licenses for the first two and an option for the third.

• Interim data for JADE101 expected in the first half of 2026; JADE-003 first-in-human trial planned for the first half of 2027.

• Team expansion continues, focusing on experienced drug developers and company builders.

JADE201 Program and Clinical Strategy

• JADE201 is a half-life-extended, afucosylated monoclonal antibody targeting BAFF-R, designed for deeper, more durable B-cell depletion with less frequent subcutaneous dosing.

• Incorporates dual mechanisms: enhanced ADCC for B-cell killing and BAFF signaling blockade to prevent B-cell repopulation.

• Preclinical data show robust receptor occupancy, potent B-cell depletion, and a twofold increase in half-life over ianalumab.

• First-in-human study in rheumatoid arthritis patients planned for the first half of 2026, using a randomized, placebo-controlled, single-ascending dose design.

• Exploratory efficacy endpoints (e.g., DAS-28) will be assessed, but primary focus is on safety, PK, and pharmacodynamics.

Pipeline and Strategic Positioning

• JADE101, in Phase 1 for IgA nephropathy, shows potent, sustained IgA suppression in preclinical studies.

• JADE201 and JADE101 are engineered for half-life extension, supporting infrequent and convenient subcutaneous dosing.

• The pipeline includes JADE-003, an undisclosed antibody discovery program in preclinical development.

• The company leverages assets licensed from Paragon Therapeutics and is focused on best-in-class therapies for autoimmune diseases.

• Combination strategies with JADE101 and JADE201 may be considered in the future, pending monotherapy trial results.