Jade Biosciences, Inc. · NASDAQ:JBIO
Jade Biosciences — Investor Presentation (July 2025)
28 slides from Jade Biosciences's investor presentation, July 2025
Slide 1: Company Overview
Company Overview July 2025 NASDAQ: JBIO
Slide 2: Disclaimers
Disclaimers Forward Looking Statements Certain statements in this presentation, other than purely historical information, may constitute "forward-looking statements" within the meaning of the federal securities laws, including for purposes of the "safe harbor" provisions under the Private Securities
Slide 3: Jade Biosciences is advancing potentially best-in-class therapies for autoimmune diseases
Jade Biosciences is advancing potentially best-in-class therapies for autoimmune diseases Current funding expected to support operations through 2027, well beyond biomarker-rich JADE101 healthy volunteer data Planned MOA Program Candidate Discovery IND-enabling Interim FIH Data Potential Indications
Slide 4: JADE101: a potentially best-in-class anti-APRIL mAb for IgAN
JADE101: a potentially best-in-class anti-APRIL mAb for IgAN 4
Slide 5: Jade is developing a potentially best-in-class anti-APRIL mAb
Jade is developing a potentially best-in-class anti-APRIL mAb Estimated Current treatments do not adequately Anti-APRIL Mechanism has potential to be disease $10B+ address the need for long-term disease- modifying therapy in class poised to be frontline treatment modifying, reducing pathogenic IgA a
Slide 6: IgAN prevalence and market opportunity
~169K+ IgAN patients in the U.S. with majority requiring treatment*, representing potential $10B+ market IgAN is an autoimmune kidney disease, typically diagnosed ~1M+ global patients, in 20- to 30-year-olds, requiring life-long therapy significant potential ex-U.S. market potential 0 100 200 300 40
Slide 7: Proposed updates to KDIGO guidelines position the anti-APRIL class as the foundational therapy in IgAN
Proposed updates to KDIGO guidelines position the anti- APRIL class as the foundational therapy in IgAN IgAN patients at risk Expanding Patient Population of progressive kidney function loss • Kidney biopsy recommended in all adults with proteinuria ≥0.5 g/d where IgAN is a possible diagnosis Driver
Slide 8: Potentially best-in-class profile of JADE101
Potentially best-in-class profile of JADE101 Femtomolar APRIL Affinity + Half Life Extension Potentially best-in-class Infrequent Q8W+ dosing Avoids unnecessary efficacy immunosuppression APRIL inhibitors demonstrate Minimizes burden in a typically Selectively targeting APRIL provides greater protei
Slide 9: Reducing pathogenic IgA production by plasma cells is a potentially disease-modifying approach for IgAN
Reducing pathogenic IgA production by plasma cells is a potentially disease-modifying approach for IgAN Broad B-cell depletion is ineffective in IgAN… …while targeted plasma cell modulation is highly effective. • B-cell depletion with rituximab (anti-CD20) failed to reduce Gd- • APRIL and dual APRIL
Slide 10: Selectively targeting APRIL potentially provides disease modification without added immunosuppression of BAFF inhibition
Selectively targeting APRIL potentially provides disease modification without added immunosuppression of BAFF inhibition APRIL is the plasma cell survival factor critically linked Targeting APRIL selectively modulates plasma to IgAN pathogenesis and disease activity cells, maintaining pool of mature
Slide 11: Reductions in proteinuria and IgA across Phase clinical studies indicate APRIL inhibition drives efficacy
Reductions in proteinuria and IgA across Phase 2 clinical studies indicate APRIL inhibition is the driving force behind efficacy in IgAN Proteinuria 10 0 Weeks 0 4 8 12 16 20 24 28 32 36 40 44 48 52 Δ from Baseline (%) -10 24h UPCR -20 Blisibimod (anti-BAFF) -30 Sibeprenlimab (anti-APRIL, 8 mg/kg) -
Slide 12: Selective APRIL inhibition is sufficient to deliver eGFR stabilization in IgAN Phase 2 trials
Selective APRIL inhibition is sufficient to deliver the full disease modifying impact of eGFR stabilization in IgAN Phase 2 trials eGFR Mean eGFR Change From Baseline Sibeprenlimab (anti-APRIL, 8 mg/kg) Sibeprenlimab (anti-APRIL, 4 mg/kg) (mL/min/1.73m2) Zigakibart (anti-APRIL) Atacicept (TACI-FC, O
Slide 13: No clinical evidence that inhibiting BAFF provides additional efficacy beyond APRIL alone in IgAN
No clinical evidence that inhibiting BAFF provides additional efficacy beyond APRIL alone in IgAN Phase 2 clinical trials Sibeprenlimab Zigakibart Atacicept Povetacicept MoA anti-APRIL anti-APRIL TACI-Fc Engineered TACI-Fc Status Phase 3 Phase 3 Phase 3 Phase 3 IgA Gd-IgA1 UPCR IgA Gd-IgA1 UPCR IgA
Slide 14: Selective APRIL inhibition resulted in numerically greater proteinuria reduction compared to dual APRIL/BAFF
Selective APRIL inhibition resulted in numerically greater proteinuria reduction compared to dual APRIL/BAFF in Phase 3 IgAN trials UPCR Δ from baseline (%, W36) Sibeprenlimab Atacicept Δ -51% Δ -42% (p < 0.0001) (p < 0.0001) 2.1 Sibeprenlimab Placebo Atacicept N=152 N=95 N=103 Placebo N=168 -7 Stud
Slide 15: BAFF inhibition is accompanied by the potential for significant long-term B cell depletion
BAFF inhibition is accompanied by the potential for significant long-term B cell depletion Long-term BAFF inhibition significantly depletes B … whereas chronic APRIL inhibition does not impact cells… circulating lymphocytes Zigakibart Lymphocytes (109/L) ~7-year belimumab data in SLE shows long-term
Slide 16: Deeper APRIL suppression drives superior clinical efficacy
Deeper APRIL suppression drives superior clinical efficacy Sibeprenlimab Phase 2 Data • Highest proteinuria reduction and rates of clinical remission (proteinuria <0.3 g/day) for sibeprenlimab APRIL were accompanied by the deepest levels of APRIL suppression. • Safety profile consistent across dose
Slide 17: Potentially best-in-class properties of JADE101
Potentially best-in-class properties of JADE101 Ultra-high (fM) APRIL binding Novel IP for composition affinity of matter into mid-2040s • Binds APRIL to neutralize activity • Greater APRIL binding affinity than sibeprenlimab, zigakibart, povetacicept and atacicept De novo antibody discovery Half-li
Slide 18: JADE101 has femtomolar affinity and a slow off-rate that is superior to other anti-APRILs
JADE101 has femtomolar affinity and a slow off-rate that is superior to other anti-APRILs currently in development APRIL affinity by SPR is highly predictive of in vivo APRIL affinity potency to lower by SPR is highly serum IgA inpredictive humans of in vivo potency to lower serum IgA in humans 1000
Slide 19: JADE101 avoids high molecular weight complex formation
JADE101 avoids high molecular weight complex formation High MW complex formation can occur with mAbs binding trimeric proteins, such as APRIL. Avoiding high MW complexes potentially mitigates risks of immunogenicity and target mediated drug disposition (TMDD). MW - molecular weight, mAbs – monoclona
Slide 20: JADE101 exhibits a highly differentiated NHP PK/PD profile
JADE101 exhibits a highly differentiated Single IV Dose NHP PK/PD profile >3X increased half-life compared to sibeprenlimab* in NHPs Accompanied by deep and prolonged IgA reduction T1/2 ~27d T1/2 ~7d JADE101 has the potential to extend dosing interval through low clearance via half-life extension, t
Slide 21: Minimizing patient burden
Minimizing patient Frequent subcutaneous injections create significant burden for patients managing a chronic disease: burden Reducing the frequency of injections is anticipated to be a valuable choice driver JADE101 Sibeprenlimab Atacicept Povetacicept Zigakibart • IgAN patients are typically diagn
Slide 22: Anticipated 1H26 HV data potentially positions JADE101 for accelerated development
Anticipated 1H26 HV data potentially positions PK, APRIL and IgA HV data will define the dose and schedule designed to fully suppress APRIL JADE101 for accelerated development throughout the dosing interval in IgAN patients. MOA Candidate IND Enabling Phase 1 Initiation Interim Healthy Volunteer Dat
Slide 23: Biomarker-rich, directly translational HV data supports the potential to accelerate clinical development
Biomarker-rich, directly translational HV data supports the potential to accelerate clinical development IgA reduction in HVs is highly correlated with IgA …and early IgA reduction further correlates with W36 UPCR reduction in IgAN patients at multiple time points… reduction, the anticipated endpoin
Slide 24: Pipeline beyond JADE101
Pipeline beyond JADE101 24
Slide 25: Additional Jade programs expected to focus on best-in-class product profiles in high-value autoimmune indications
Additional Jade programs expected to focus on best-in-class product profiles in high-value autoimmune indications Autoimmune Potentially best- Potential rapid Limited Jade team indications with in-class and path to clinical competition expertise significant best-in- PoC expected market indication op
Slide 26: Jade Biosciences is advancing potentially best-in-class therapies for autoimmune diseases
Jade Biosciences is advancing potentially best-in-class therapies for autoimmune diseases Current funding expected to support operations through 2027, well beyond biomarker-rich JADE101 healthy volunteer data Planned MOA Program Candidate Discovery IND-enabling Interim FIH Data Potential Indications
Slide 27: Capitalization following close of merger with Aerovate
Capitalization following close $49.9M cash as of March 31, 2025 of merger with Aerovate +$192.7M net proceeds from PIPE on April 28, 2025 Number of Shares* Common stock Shares outstanding 32,235,926 Preferred stock (as converted to 12,622,000 Common stock equivalents common stock) Pre-funded warrant
Slide 28: Thank you
Thank you www.JadeBiosciences.com | info@jadebiosciences.com NASDAQ: JBIO