Jade Biosciences, Inc. · NASDAQ:JBIO
Jade Biosciences — Aerovate Therapeutics — Merger or Acquisition (November 2024)
29 slides from Jade Biosciences's merger presentation, Nov 18, 2024
Slide 1: November 2024 Corporate Presentation
November 2024 Corporate Presentation
Slide 2: Disclaimer and forward-looking statements
2 This presentation is for informational purposes only and only a summary of certain information related to Jade Biosciences, I nc. (the “Company”). It does not purport to be complete and does not contain all information that an investor may need to consider in making an investment decision. The inf
Slide 3: Jade Biosciences is developing potentially transformative therapies for high-value I&I indications
3 • Developing potential best - in - class therapies for the treatment of autoimmune diseases , including IgA nephropathy ( IgAN ). • Fourth company launched to research and develop antibody candidates licensed from Paragon Therapeutics , an antibody discovery engine founded by Fairmount. • Followin
Slide 4: Experienced management team with backing from Paragon
Experienced management team with backing from Paragon Management Tom Frohlich CEO Andrew King CSO, Head of R Hetal Kocinsky CMO Valerie Fauvelle SVP, Regulatory Quality Jason Wright SVP, Chemistry, Manufacturing Controls Jonathan Quick SVP, Finance Elizabeth Balta GC Corporate Secretary Amy Sullivan
Slide 5: JADE-001: a potential best-in-class anti-APRIL mAb for IgAN
5 JADE - 001: a potential best - in - class anti - APRIL mAb for IgAN
Slide 6: Jade is developing a potential best-in-class anti-APRIL mAb
6 Jade is developing a potential best - in - class anti - APRIL mAb designed to have disease - modifying MoA in IgAN Estimated $10B+ newly branded market Anti - APRIL mechanism is potentially disease - modifying JADE - 001 has potential best - in - class profile Efficient development path to PoC and
Slide 7: High unmet need for disease-modifying treatments in a young patient population
7 There is a high unmet need for disease - modifying treatments that are safe, well - tolerated, and convenient for life - long therapy in a young patient population . • IgAN is an autoimmune kidney disease , typically diagnosed in 20 - to 30 - year - olds, requiring life - long therapy . • At a pre
Slide 8: Ideal IgAN therapy vs. current treatments
8 Ideal IgAN therapy Fabhalta Tarpeyo Filspari SGLT2i Systemic glucocorticoids ACEi / ARB Complement Factor B inhibitor GI - released systemic glucocorticoid Dual endothelin / angiotensin inhibition SGLT2 inhibition General immunosuppression Renin - angiotensin system inhibition MoA Accelerated appr
Slide 9: Proposed KDIGO guideline updates highlight need for therapies like JADE-001
9 Sources: KDIGO Guidelines Public Review Draft; 2023 Mathur (NEJM); Jade analysis KDIGO – Kidney Disease Improving Global Outcomes Proposed updates to KDIGO guidelines highlight the need for therapies like JADE - 001, which may reduce pathogenic IgA CONFIDENTIAL KDIGO updates are anticipated to inc
Slide 10: Reducing pathogenic IgA production by plasma cells is a potentially disease-modifying approach
10 APRIL dependency HSC Pro B cell Large pre - B cell Small pre - B cell Immature B cell Mature Naïve B cell Memory B cell Plasma cell Bone marrow Mucosa Mucosa & bone marrow CD20 expression BAFF dependency *Gradient indicates level of receptor expression Sources: 2024 Cheung (Front Nephrol); 2023 M
Slide 11: Selectively targeting APRIL without added BAFF immunosuppression
11 Existing genomic, mechanistic, IgAN model, and clinical data support the importance of APRIL over BAFF in IgAN , and APRIL - only blockade avoids the potential for unnecessary immunosuppression . Selectively targeting APRIL potentially provides disease modification without added immunosuppression
Slide 12: APRIL inhibition is the driving force behind TACI-Fc efficacy
12 Reductions in proteinuria and IgA in IgAN clinical studies indicate APRIL inhibition is the driving force behind TACI - Fc efficacy Notes: Cross - trial comparisons are inherently limited and presented for hypothesis - generating purposes only. Data digitized from graphs where publications did no
Slide 13: Anti-APRILs match or beat TACIs with reduced immune suppression
13 Povetacicept Atacicept Zigakibart Sibeprenlimab Engineered TACI - Fc TACI - Fc anti - APRIL anti - APRIL MoA P3 P3 P3 P3 Status N=9 (80 mg) N=32 (150 mg) N=35 (600 mg) N=79 (4/8 mg/kg pooled) Δ from baseline in critical disease markers (W36 timepoint*) ✓ (12 months) ✓ (24 months) ✓ (18 months) ✓
Slide 14: BAFF inhibition accompanied by potential long-term B cell depletion
14 • ~7 - year data from belimumab in SLE shows continuous BAFF inhibition lowers B cell populations from ~50% to ~99% , with most populations decreasing >80%. Sources: 2022 Struemper (Lupus Sci Med); Barratt ASN 2024 BAFF inhibition is accompanied by the potential for significant long - term B cell
Slide 15: JADE-001 is a potential best-in-class anti-APRIL
15 JADE - 001 is a potential best - in - class anti - APRIL Blocks APRIL with greater potency than clinical benchmarks • Validated mechanism of action • Binds APRIL to neutralize activity • Greater binding affinity than sibeprenlimab (≥5x) and zigakibart (≥14x) Effector - null human IgG1 Fc Half - l
Slide 16: Jade mAbs employ proven half-life extension technology
16 pH 5.5 pH 7 • Jade mAbs designed to be recycled back into circulation more readily • Drug exists at much higher levels for longer duration of effect • Fewer injections decrease patient burden and can improve compliance and penetration SOURCE: Adapted from Ko S et al BioDrugs 2021 Jade mAbs employ
Slide 17: JADE-001 employs established HLE technology with potential for Q8W+ dosing
17 • JADE - 001 employs well - established HLE technology , with the potential for Q8W+ dosing . • High potency can potentially further drive lower dosing frequency – which has already been demonstrated for APRIL by sibeprenlimab’s Q4W dosing vs. zigakibart’s Q2W dosing despite near - equivalent hal
Slide 18: JADE-001 HLE profile in NHPs shows promise with early clone
18 JADE - 001 HLE strategy and profile in NHPs shows promise with early clone* ~3X increased half - life over sibeprenlimab in NHPs… … which is accompanied by prolonged IgA reduction in NHPs following a single, saturating dose PHARMACOKINETICS PHARMACODYNAMICS Note: *Data shown is from an initia
Slide 19: Potential for superior clinical activity by maximizing remission rates
19 JADE - 001 has potential to demonstrate superior clinical activity by maximizing remission rates in significantly more patients than other anti - APRIL programs in development. • The highest rates of clinical remission (<0.3 g/day urinary protein excretion) for sibeprenlimab were accompanied by t
Slide 20: Sibeprenlimab is potentially under-dosed in ongoing Phase 3 trial
20 • Sibeprenlimab is being dosed as a single 400mg SC injection Q4W in ongoing global Phase 3 VISIONARY trial. • 400 mg SC Q4W is equivalent to ~3.5 mg/kg IV for average IgAN patient (range 2.5 - 6 mg/kg). • The estimated Phase 3 equivalent dose range demonstrated lower efficacy on key endpoints in
Slide 21: Potential path to early clinical proof-of-concept and accelerated approval
21 Potential path to early clinical proof - of - concept and accelerated approval • NHP and Phase 1 PK/PD could provide early signals of clinical activity; IgA reduction in HVs has been observed to be highly correlated with clinical activity . • 9 - month proteinuria data, which we believe is highly
Slide 22: IgA reduction in healthy volunteers is the critical inflection point
22 Notes: Sibeprenlimab IgAN IgA reductions (LHS) are average of 4 mg/kg and 8 mg/kg cohorts (HV data is from 6 mg/kg cohort); the two cohorts saw effecti ve ly equivalent IgA reduction at W4 and W8. Zigakibart UPCR data is at 52W. Atacicept IgAN W8 is average of W4 and W12 datapoints. Trend lines a
Slide 23: Potential of JADE-001 in IgAN
23 Potential of JADE - 001 in IgAN Potential to deplete pathogenic IgA and avoids broad B - cell inhibition Enabled by half - life extension technology Designed for superior potency and half - life with potential to maximize clinical remission Potential Disease - modifying MoA More convenient dosing
Slide 24: Pipeline opportunities beyond IgAN
24 Pipeline opportunities beyond IgAN
Slide 25: Additional Jade pipeline programs focus on best-in-class profiles in I&I
25 Additional Jade pipeline programs are expected to focus on best - in - class product profiles in high - value I&I indications I&I indications with significant market opportunity Potential Best - in - class and best - in - indication product profile Potential Rapid path to clinical PoC Expected mi
Slide 26: Jade Biosciences is developing transformative therapies for high-value I&I indications
26 Jade Biosciences is developing transformative therapies for high - value I&I indications • Approximately $300 million raised to date, including anticipated proceeds from an oversubscribed pre - closing private financing, from syndicate of top tier healthcare investors, including: Planned Healthy
Slide 27: Estimated capitalization following close of transactions with Aerovate
27 CONFIDENTIAL Estimated total shares of common stock of the combined company post - closing * * 1,855,835,012 Shares on an as - converted basis 28,867,711 • Shares of common stock outstanding Aerovate • Shares of common stock outstanding (including shares underlying option grants) 202,760,666 Jade
Slide 28: Thank you
28 Thank you
Slide 29: JADE-001 HLE strategy and profile in NHPs shows promise
29 JADE - 001 HLE strategy and profile in NHPs shows promise* ~3X increased half - life over sibeprenlimab in NHPs… … which is accompanied by prolonged IgA reduction in NHPs following a single, saturating dose PHARMACOKINETICS PHARMACODYNAMICS Note: *Data shown is from an initial clone. A develo
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