Yarrow Bioscience (YARW) Investor presentation summary

Strategic vision and company overview

• Focused on developing novel therapies for thyroid autoimmune diseases, specifically Graves' Disease (GD) and thyroid eye disease (TED).

• Founded in 2025, launching as a clinical-stage company with a reverse merger expected to close in July 2026 and subsequent NASDAQ listing.

• Raised $200M to date, providing a cash runway into 2028.

• In-licensed exclusive rights to YB-101 for GD and TED outside greater China from GenSci.

Unmet medical need and market opportunity

• GD and TED are associated with significant morbidity, mortality, and inadequate current treatments.

• Existing therapies have substantial side effects, low remission rates, and high relapse or complication risks.

• Large addressable market: $2B+ annual US market for both GD and TED, with ~1M prevalent GD patients on anti-thyroid drugs.

• 40% of GD patients develop TED, and 20-30% develop moderate to severe TED.

YB-101: Mechanism, differentiation, and clinical promise

• YB-101 is a first-in-class anti-TSHR antibody designed to disrupt the central mechanism of GD and TED.

• Offers rapid, specific TSHR blockade, potentially improving efficacy and safety over current standards.

• Demonstrated favorable safety and rapid, dose-dependent clinical responses in Phase 1 SAD for TED in China.

• No immunosuppression, hearing impairment, or hyperglycemia observed; convenient subcutaneous dosing every 8 weeks.

• Intellectual property coverage extends through at least 2046.