Ibio, Inc. · NASDAQ:IBIO
Ibio — Investor Presentation (March 2026)
39 slides from Ibio's investor presentation, Mar 9, 2026
Slide 1: Breakthrough Antibodies for Obesity and Cardiometabolic Diseases
BREAKTHROUGH ANTIBODIES FOR OBESITY AND CARDIOMETABOLIC DISEASES CORPORATE PRESENTATION March 2026
Slide 2: Forward-looking statements
Certain statements in this presentation constitute "forward -looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 , as amended. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast,"
Slide 3: Revolution Sparked a New Era in Obesity Treatment
KFF Health Tracking Poll May 2024: The Public’s Use and Views of GLP-1 Drugs, KFF, May 10, 2025 3 Revolution Sparked a New Era in Obesity Treatment Incretin Class Agonists Have Revolutionized Obesity Treatment >10% of American adults have taken a GLP-1 1 Interventional weight loss previously only ac
Slide 4: The GLP-1 Revolution Unlocked Possibility: We Aim to Drive the Evolution
The GLP-1 Revolution Unlocked Possibility: We Aim to Drive the Evolution 1. Beavers et al (2011), Am J Clin Nutr. 94:767-74 2. Johnson et al (2017), J Bone Miner Res. 32(11):2278-2287 4 GLP-1 Treatment start GLP-1 Treatment stop Follow up Obesity + Cardiovascular Complication Risk Healthy Weight “Fo
Slide 5: A Portfolio Approach to Obesity: Targeting Multiple Mechanisms
A Portfolio Approach to Obesity: Targeting Multiple Mechanisms Designed to Close the Gaps Left by GLP-1 Therapies 5 Designed to Improve Quality of Weight Loss Not Met by Current GLP-1 Drugs Prevention of muscle mass loss Reduce side effects leading to discontinuation Sustainment of weight loss Decre
Slide 6: Next Generation Antibodies for Obesity Targeting Key Gaps in Current Care
Next Generation Antibodies for Obesity Targeting Key Gaps in Current Care Corporate Highlights Lead Programs ▪ IBIO-610: Activin E antibody ▪ Myostatin x Activin A: Bispecific Antibody Pipeline ▪ 3 early-stage high novelty programs and 2 partnered programs ▪ Discovery to development candidate in as
Slide 7: iBio's Strategy in Motion: Advancing Next-Gen Treatments
iBio’s Strategy in Motion: Advancing Next-Gen Treatments Beyond First-Gen Obesity Drugs Programs are in-licensed from AstralBio, Inc *Spinal Muscular Atrophy 7 CARDIOMETABOLIC STAGE Discovery Optimization IND Enabling Phase 1 Myostatin x Activin A Bispecific PH-HFpEF, Obesity CARDIOMETABOLIC STAGE D
Slide 8: IBIO-610 Activin E Antibody
IBIO-610 Activin E Antibody
Slide 9: IBIO-610 Targets Activin E to Potentially Drive Targeted Fat Loss
IBIO-610 Targets Activin E to Potentially Drive Targeted Fat Loss and Maintain Weight Reduction After GLP-1 Discontinuation 1. Akbari, P. et al. Multiancestry exome sequencing reveals INHBE mutations associated with favorable fat distribution and protection from diabetes. Nat Commun 13, 4844 (2022).
Slide 10: IBIO-610 as a Potential First-in-Class Antibody Targeting Activin E
IBIO-610 as a Potential First-in-Class Antibody Targeting Activin E 10 Potential Class-Leading Pathway Targeting Antagonist antibody offers potential for greater Activin E inhibition than siRNA-based knockdown approaches Fat Specific Weight Loss Weight loss observed in pre-clinical studies with no i
Slide 11: IBIO-610 Combines Deep Pathway Inhibition With Scalable Biomanufacturing
IBIO-610 Combines Deep Pathway Inhibition With the Accessibility and Scalability of Proven Biomanufacturing Compared to siRNA Modalities * Based on mouse data ** Based on NHP and initial human data 11 Pathway inhibition Potentially near complete inhibition Partial inhibition average ~60% to 85%* Dos
Slide 12: IBIO-610 High-Affinity Binding and Potent Inhibition of Activin E Signaling
IBIO-610 Exhibited High-Affinity Binding and Potent Inhibition of Activin E Signaling in Engineered and Primary Human Fat Cells Data on file 12 0.001 0.01 0.1 1 10 100 0 2000 4000 6000 mAb (nM) RLU Isotype Cnt IBIO-610 No treatment IC50 = 158 pM 1 10 100 1000 0 10 20 30 40 IBIO-610 (nM) % pSmad2+ ce
Slide 13: IBIO-610 Observed to Induce Fat-Selective Weight Loss in Obese Mice
IBIO-610 Observed to Induce Fat-Selective Weight Loss in Diet-Induced Obese Mice *Non-responder outlier mice removed, IBIO-610 mouse surrogate used. 10 mg/kg, BIW dosing. DIO mice Data on file 13 0 7 14 21 28 -15 -10 -5 0 5 Day Body Weight % Change Baseline and Vehicle Corrected PBS IBIO-610 -8.9% *
Slide 14: IBIO-610 Synergizes with GLP-1 Through a Distinct Mechanism
IBIO-610 Synergizes with GLP-1 Through a Distinct, Non-Appetite-Based Mechanism Data on file IBIO-610 mouse surrogate used, 10 mg/kg, BIW dosing. Semaglutide dosed QD at 10 nmol/kg. 14 Study Design Week -16 High-fat diet induction Week -7 DEXA Day 1 DEXA Day 14 DEXA Day 28 Randomization and baseline
Slide 15: IBIO-610 Observed to Prevent Weight Regain Following GLP-1 Treatment
IBIO-610 Observed to Prevent Weight Regain Following GLP-1 Treatment in Obese Mice Data on file 15 Fat-Specific Effect 0 5 10 15 20 25 30 35 75 80 85 90 95 100 105 Day of Treatment Body Weight (%) Baseline and Vehicle Corrected PBS Sema=>PBS Sema=>IBIO-610 IBIO-610 Initiation ns *** ** * p<0.05 comp
Slide 16: IBIO-610 Non-Human Primate Pharmacokinetics Study
16 IBIO-610 Non-Human Primate (NHP) Pharmacokinetics (PK) Study I.V. Dose Week -4 Week -2 Week 0 Week 2 Week 4 Week 6 Week 8 Monkey training PK monitoring NHP Characteristics Obese, mature NHPs Age 8-15 years ~ 18%-51% body fat Study Design N=6 NHPs 10mg/kg single i.v. dose Periodic PK sampling
Slide 17: NHP Pharmacokinetics Shows Potential for Extended Half-life in Humans
17 Non-Human Primate Pharmacokinetics Shows Potential for Extended Half-life of IBIO-610 in Humans 0 20 40 60 1 10 100 1000 Obese NHP Pharmacokinetics Single I.V. Dose, 10 mg/kg Day IBIO-610 in serum (ug/mL) Linear Elimination Days 14-56 t Y=2.49x+17 1/2, NHP = 33.2 days 0 10 20 30 0 20 40 60 80 100
Slide 18: IBIO-610 Shows Selective Fat Reduction and Lean Mass Preservation in NHPs
Data on file 18 IBIO-610 Shows Selective Fat Reduction and Lean Mass Preservation in Obese NHPs Group 1 Vehicle Group 2 IBIO-610 0 5 10 15 20 25 % Change from Baseline 0 10 20 30 % Change from Baseline 0 1 2 3 4 5% Change from Baseline Week 16 -6.7% -5.2% +0.9% Week 16 Data IBIO-610 (NHP) Reduction
Slide 19: The Next Wave of iBio Innovation: Early Preclinical Programs
The Next Wave of iBio Innovation Early Preclinical Programs
Slide 20: Combined Myostatin and Activin A Antagonism
20 Combined Myostatin and Activin A Antagonism Precision Bispecific Approach to Address Root Drivers of PH-HFpEF* Binding of Myostatin and Activin A to cells leads to muscle atrophy Simultaneous blocking of Myostatin and Activin A leads to muscle growth Targeting the Core Biology of Disease Across M
Slide 21: Induction of Fibrotic and Pro-Inflammatory Gene Expression in Cardiac Fibroblasts
Induction of Fibrotic and Pro-Inflammatory Gene Expression in Human Cardiac Fibroblasts *Alpha-Smooth Muscle Actin (α-SMA); marker for fibroblast activation Data on file 21 Control GDF8GDF11Activin A COL1A1 COL4A1 COL16A1 FN1 ACTA2 SERPINE2 SKIL SNAI1 FSCN1 PMEPA1 BAMBI HTRA3 TGFBI Central Axis Driv
Slide 22: Myostatin and Activin A Bispecific: Combined Antibody-Mediated Blockade
iBio’s Myostatin and Activin A Bispecific: Combined, Antibody-Mediated Blockade of GDF8/GDF11/Activin A Data on file 22 INCREASED MUSCLE FUSION INDEX IN HUMAN MUSCLE STEM CELLS IS A SURROGATE OF MUSCLE GROWTH IMPROVEMENT IN STRESS-INDUCED RIGHT VENTRICULAR REMODELING Myostatin + Activin A without an
Slide 23: Harnessing Amylin Biology with Precision Targeting
Harnessing Amylin Biology with Precision Targeting: iBio’s Engineered Antibody Agonist Approach 1.Aronne, L.,et al.Progressive Reduction in Body Weight aft Treatment w/ Amylin Analog Pramlintide in Obese Subjects:A Phase 2, Randomized, Placebo-Controlled, Dose-Escalation Study. J Clin Endo Metab 92(
Slide 24: IBIO-600 Long-Acting Myostatin Antibody
IBIO-600 Long-Acting Myostatin Antibody
Slide 25: Myostatin Inhibition to Preserve Muscle Mass
Strengthening the Weight Loss Journey: Myostatin Inhibition to Preserve Muscle Mass 1. Schuelke M. (2004). New England Journal of Medicine 350(2682–2688). 2. Deng, B. (2017). Nutrition and Metabolism, 14(29). 25 We are developing Myostatin inhibitors to potentially preserve and increase muscle mass,
Slide 26: IBIO-600: A Differentiated Long Acting Anti-Myostatin Program
IBIO-600: A Differentiated Long Acting Anti-Myostatin Program 26 IMPROVED PHARMACOKINETICS Potential best-in-class PK based on allometric scaling and dosing regimen suggests 2-4x improved PK over competitors DUAL MECHANISM Dual myostatin and GDF11 blockade has potential for improved lean mass preser
Slide 27: IBIO-600 Enhances Muscle Differentiation in Human Myoblasts
IBIO-600 Enhances Muscle Differentiation in Human Myoblasts by Targeting the Two Growth Suppressors Myostatin and GDF11 1. Francis, T., Soendenbroe, C., Lazarus, N. R., Mackey, A. L. & Harridge, S. D. R. Insights into human muscle biology from human primary skeletal muscle cell culture. J Muscle Res
Slide 28: IBIO-600 Fc Engineering Drives Extended Half-Life in Obese NHPs
IBIO-600 Fc Engineering Drives Extended Half-Life in Obese NHPs 1. Linear elimination phase used to estimate half-life with simple linear model Data on file 28 Dose t1/2 (days) 5 mg/kg, I.V. 52.4 IBIO-600 Fc Engineering Results in Enhanced FcRn Binding Clone Fc Fold increase over standard IgG IBIO-6
Slide 29: IBIO-600 Dose Modeling Suggests Low Dose Requirements
29 IBIO-600 Dose Modeling From Human Muscle Cells and Monkey PK Suggests Low Dose Requirements to Block Myostatin for Extended Durations Data on file IBIO-600 BLOCKED THE EFFECT OF MYOSTATIN ON HUMAN MUSCLE CELLS AT 5 MG/KG DOSE, IBIO-600 ACHIEVED >90% MYOSTATIN INHIBITION FOR 8 WEEKS IC90 (90% inhi
Slide 30: Allometric Scaling Predicts Extended Half-Life for IBIO-600
Allometric Scaling Predicts Potentially Extended Half-Life for IBIO-600, Enabling Infrequent Dosing and Prolonged Myostatin Inhibition Data on File 30 Dose NHP t1/2 (actual) Human t1/2 (predicted)1,2 5 mg/kg, I.V. 52.4 74-147 days Measured NHP and Expected Human Half-Life of IBIO-600 1. Haraya, K. &
Slide 31: PK Modeling Suggests IBIO-600 Can Be Dosed Twice-Yearly or Quarterly
PK Modeling Suggests IBIO-600 Can Be Dosed Twice-Yearly, Quarterly, or Co-Formulated With Weekly GLP-1s Data on file 31 0 200 400 600 800 0 50 100 150 200 Day after first dose Serum (ug/mL) Single Dose Twice a Year Dosing IC90 in muscle 0 200 400 600 800 0 50 100 Day after first dose Serum (ug/mL) S
Slide 32: Single Low Dose of IBIO-600 Drives Muscle Gain and Fat Loss in NHPs
Single Clinically Relevant Low Dose of IBIO-600 Observed to Drive Sustained Muscle Gain and Fat Loss in Aged, Obese Non-Human Primates 32 ROI (gluteal and thigh region) DEXA Data on file PERCENT INCREASE IN LEAN MASS PERCENT DECREASE IN FAT MASS Weeks post dose 0 5 10 15 Change in lean mass (%, from
Slide 33: Technology Stack
Technology Stack
Slide 34: Toward Any Epitope on Any Drug Target
Toward Any Epitope on Any Drug Target AI Epitope Engineering and Antibody Optimization Engines unlock challenging target classes 34 • Multi-layer technology platform addresses multiple challenges in Ab discovery • Patented Epitope Steering technology • Single-step Ab StableHu x Mammalian Display • M
Slide 35: Engineered Epitopes Are Tailor-Made Solutions for Your Target
Engineered Epitopes Are Tailor-Made Solutions for Your Target of Interest 35 Generative AI Protein Complexes Stabilize junctional and/or discontinuous epitopes Target of Interest Epitopes of Interest Design scaffold supporting native epitope structure Membrane Proteins Solubilize transmembrane domai
Slide 36: Mammalian Display Enables Rapid Whole Molecule Optimization
36 Mammalian Display Enables Rapid Whole Molecule Optimization Input library of diverse sequences, formats, masks, and linkers Multi-dimensional cell sorting selects for high expression, positive on target binding, and negative off-target binding
Slide 37: Corporate Summary
Corporate Summary
Slide 38: A Leadership Team with Deep Industry Experience
A Leadership Team with Deep Industry Experience 38 Martin Brenner, DVM, Ph.D. CEO & CSO Felipe Duran CFO Marc Banjak CLO
Slide 39: Executive Summary: Corporate Highlights
Executive Summary Corporate Highlights Differentiated Pipeline Aiming to Solve for the Challenges of today’s GLP1’s ▪ Focus on increased quality of weight loss (IBIO-610, Myostatin x Activin A) ▪ Developability (IBIO-610) Patented AI-Driven Discovery Tech Stack ▪ Advance a highly developable pre-cli