Jade Biosciences, Inc. · NASDAQ:JBIO
Jade Biosciences — Investor Presentation (April 2025)
27 slides from Jade Biosciences's investor presentation, April 2025
Slide 1: Company Overview
Jade Company Overvi BIOSCIENCES April 2025 9
Slide 2: Disclaimers
Disclaimers This presentation is for informational purposes only and only a summary of certain information related to Jade Biosciences, Inc. (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
Slide 3: Jade aims to develop transformative therapies for high-value inflammation and immunology indications
Jade aims to develop transformative therapies for high-value inflammation and immunology indications Our mission is to deliver best-in-class therapies for patients living with autoimmune diseases. • Advancing potential best-in-class therapies IND- Planned Planned MOA Program Discovery Clinical Healt
Slide 4: Experienced team with backing from Paragon
Experienced team with backing from Paragon Company Leadership Board of Directors Eric Dobmeier Erin Lavelle Tom Frohlich Andrew King Hetal Kocinsky Board of Directors Board Chair CEO CSO, Head of R&D CMO Valerie Fauvelle Jason Wright Amy Sullivan SVP, Regulatory & Quality SVP, Chemistry, SVP, Develo
Slide 5: JADE-001: a potential best-in-class anti-APRIL mAb for IgAN
JADE-001: a potential best-in-class anti-APRIL mAb for IgAN 5
Slide 6: Jade is developing a potential best-in-class anti-APRIL mAb designed to have disease-modifying MoA in IgAN
Jade is developing a potential best-in-class anti-APRIL mAb designed to have disease-modifying MoA in IgAN Current treatments do not adequately address the need for Estimated $10B+ branded market long-term disease-modifying therapy in a typically young IgAN patient population Anti-APRIL class poised
Slide 7: ~169K+ IgAN patients in the U.S. with majority requiring treatment, representing potential $10B+ market
~169K+ IgAN patients in the U.S. with majority requiring treatment*, representing potential $10B+ market IgAN patients with persistent proteinuria are ~1M+ global patients, at risk of kidney failure significant potential ex-US market potential • IgAN is an autoimmune kidney disease, typically diagno
Slide 8: Current IgAN treatments leave significant unmet need, with no disease-modifying, approved therapeutics
Current IgAN treatments leave significant unmet need, with no disease- modifying, approved therapeutics Systemic Ideal IgAN ACEi / ARB SGLT2i Filspari Tarpeyo Fabhalta glucocorticoids therapy Renin-angiotensin General Dual endothelin / GI-released systemic Complement Factor B MoA system inhibition i
Slide 9: Proposed updates to KDIGO guidelines highlight the need for therapies like JADE-001
Proposed updates to KDIGO guidelines highlight the need for therapies like JADE-001, which may reduce pathogenic IgA • Expanding Patient Population IgAN at risk of progressive kidney ‒ Kidney biopsy recommended in all adults with proteinuria function loss ≥0.5 g/d where IgAN is a possible diagnosis
Slide 10: 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 11: 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 B cell survival factor critically linked Targeting APRIL selectively modulates plasma to IgAN pathogenesis and disease activity cells, maintaining pool of mature B ce
Slide 12: Reductions in proteinuria and IgA in IgAN clinical studies indicate APRIL inhibition drives TACI-Fc efficacy
Reductions in proteinuria and IgA in IgAN clinical studies indicate APRIL inhibition is the driving force behind TACI-Fc efficacy 10 0 Weeks Δ from Baseline (%) 0 4 8 12 16 20 24 28 32 36 40 44 48 52 -10 Blisibimod (anti-BAFF) 24h UPCR -20 Sibeprenlimab (anti-APRIL, 8 mg/kg) -30 Sibeprenlimab (anti-
Slide 13: Anti-APRILs have shown evidence of disease modification and clinical activity that matches or beats TACIs
Anti-APRILs have shown evidence of disease modification and clinical activity that matches or beats TACIs, with reduced immune suppression Sibeprenlimab Zigakibart Atacicept Povetacicept MoA anti-APRIL anti-APRIL TACI-Fc Engineered TACI-Fc Status P3 P3 P3 P3 IgA Gd-IgA1 UPCR IgA Gd-IgA1 UPCR IgA Gd-
Slide 14: 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 … whereas chronic APRIL inhibition does not impact all B cell populations… circulating lymphocytes 109/L ~7-year belimumab data in SLE shows continuous BAFF in
Slide 15: JADE-001 is a potential best-in-class anti-APRIL
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) Half-life extension through validated YTE Fc modi
Slide 16: Jade mAbs employ proven half-life extension technology
Jade mAbs employ proven half-life extension technology • Jade mAbs designed to be recycled back into circulation more readily • Drug exists at much higher levels to enable longer duration of effect pH 5.5 pH 7 • Fewer injections decrease patient burden and can improve compliance and penetration 1st
Slide 17: Goal of JADE-001 is to introduce Q8W+ dosing for patients with IgAN
Goal of JADE-001 is to introduce Q8W+ dosing for patients with IgAN via well-established half-life extension technology Prior experience, including with Paragon-generated mAbs, indicates HLE could significantly improve dosing over anti-APRILs in development Est. Dosing Human t1/2 (days) Interval • H
Slide 18: JADE-001 exhibits a highly differentiated NHP PK/PD profile from sibeprenlimab
JADE-001 exhibits a highly differentiated NHP PK/PD profile from sibeprenlimab >3X increased half-life compared to sibeprenlimab in NHPs … which is accompanied by deep and prolonged IgA coupled with successful mitigation of TMDD … reduction in NHPs following a single, saturating dose PHARMACOKINETIC
Slide 19: Deeper APRIL suppression drives superior clinical efficacy
Deeper APRIL suppression drives superior clinical efficacy • Highest rates of clinical remission (proteinuria <0.3 g/day) for sibeprenlimab were accompanied by the deepest levels of APRIL suppression. • Safety profile consistent across dose levels. fAPRIL • Potential for anti-APRILs with higher affi
Slide 20: Sibeprenlimab is potentially under-dosed in ongoing Phase 3 trial
Sibeprenlimab is potentially under-dosed in ongoing Phase 3 trial • Sibeprenlimab dosed as a single 400mg SC injection Q4W in ongoing global Phase 3 Placebo 2 mg/kg IV 4 mg/kg IV 8 mg/kg IV VISIONARY trial. Annualized eGFR slope (mL/min/1.73m2, baseline • 400 mg SC Q4W equates to ~3.5 mg/kg IV for t
Slide 21: Potential path to early clinical proof-of-concept and accelerated approval in the US
Potential path to early clinical proof-of-concept and accelerated approval in the US Potential Healthy Potential MOA Program Discovery Phase 1 Initiation Volunteer Data Indications anti-APRIL JADE-001 Ongoing 2H 2025 1H 2026 IgAN • NHP and Phase 1 PK/PD could provide early signals of clinical activi
Slide 22: IgA reduction in healthy volunteers is the critical inflection point for clinical development in IgAN
IgA reduction in healthy volunteers is the critical inflection point for clinical development in IgAN IgA reduction in HVs has been observed to be highly …and IgA reduction was observed to correlate with W36 correlated with IgA reduction in IgAN patients UPCR reduction, the endpoint for accelerated
Slide 23: Pipeline opportunities beyond IgAN
Pipeline opportunities beyond IgAN 23
Slide 24: Additional Jade programs expected to focus on best-in-class product profiles in high-value I&I indications
Additional Jade programs expected to focus on best-in-class product profiles in high-value inflammation and immunology indications I&I indications Potential best-in- Potential rapid Expected minimal Jade team with significant class and best- path to clinical competition expertise market in-indicatio
Slide 25: Jade aims to develop transformative therapies for high-value inflammation and immunology indications
Jade aims to develop transformative therapies for high-value inflammation and immunology indications Jade is well capitalized to advance programs with ~$300M* of committed funding from a syndicate of top healthcare investors Planned Planned IND- MOA Program Discovery Clinical Healthy enabling FIH Vo
Slide 26: Estimated capitalization of Jade following pre-closing private placement and merger with Aerovate
Estimated capitalization of Jade following pre-closing private placement and subsequent closing of merger with Aerovate Estimated per share Shares on an as- Expected ownership of dividend based on converted basis the combined company $69.6m dividend Aerovate • Shares of common stock outstanding 28,9
Slide 27: www.JadeBiosciences.com
www.JadeBiosciences.com info@jadebiosciences.com C ON FI DE N TI AL 27
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