Ibio, Inc. · NASDAQ:IBIO
Ibio — Investor Presentation (June 2025)
45 slides from Ibio's investor presentation, Jun 24, 2025
Slide 1: Breakthrough Antibodies for Obesity and Cardiometabolic Diseases
Breakthrough Antibodies for Obesity and Cardiometabolic Diseases Corporate Presentation June 2025
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," "p
Slide 3: Revolution Sparked a New Era in Obesity Treatment
Revolution Sparked a New Era in Obesity Treatment Evolution Will Define Its Future Incretin Class Agonists Have Revolutionized Obesity Treatment >10% of American adults have taken a GLP-11 Interventional weight loss previously only achievable via surgery Attention is Shifting to Therapies That Build
Slide 4: The GLP-1 Revolution Unlocked Possibility — We Aim to Drive the Evolution
“For every 1 kg weight lost… 0.32 kg lean tissue was lost and for every 1 kg weight regained…, only 0.08 kg lean tissue was regained”1 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 The GLP-1 Revolution Unlocked Possibility — We Aim
Slide 5: iBio's Strategy to Redefine Obesity Care with Next-Generation Antibody Therapies
5 iBio’s Strategy to Redefine Obesity Care with Next-Generation Antibody Therapies Address Challenges With Current GLP-1 Drugs • Muscle mass loss • Side effects leading to discontinuation • Inconvenient dosing frequency • Room for high quality weight loss Focus on Highly Validated Targets • Preserve
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 ƒ IBIO-600: Long-acting myostatin antibody ƒ IBIO-610: First-in-class Activin E antibody Pipeline Expansion ƒ 3 early-stage high novelty programs and 2 partnered programs ƒ Discovery to devel
Slide 7: iBio's Strategy in Motion: Rapidly Advancing Next-Gen Treatments
* Financing Dependent 7 iBio’s Strategy in Motion: Rapidly Advancing Next-Gen Treatments Beyond First-Gen Obesity Drugs Program Early Discovery Late Discovery Lead Optimization IND-Enabling Phase 1 IBIO-600 Myostatin IBIO-610 Activin-E Myostatin x Activin A (obesity/ potentially PH-HFpEF) Amylin Rec
Slide 8: IBIO-600 Long-Acting Anti-Myostatin Antibody
Transition slide – IBIO-600 Long-Acting Anti-Myostatin Antibody
Slide 9: 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). 9 Strengthening the Weight Loss Journey: Myostatin Inhibition to Preserve Muscle Mass We are developing Myostatin inhibitors to preserve and increase muscle mass, complementar
Slide 10: IBIO-600: A Differentiated Long Acting Anti-Myostatin Program
10 IBIO-600: A Differentiated Long Acting Anti-Myostatin Program Potential best-in-class PK based on allometric scaling and dosing regimen suggests 2-4x improved PK over competitors Improved Pharmacokinetics Dual myostatin and GDF11 blockade has potential for improved lean mass preservation and fat
Slide 11: IBIO-600 Enhances Muscle Differentiation in Human Myoblasts
Data on file 11 IBIO-600 Enhances Muscle Differentiation in Human Myoblasts by Targeting the Two Growth Suppressors Myostatin and GDF11 IBIO-600 Increases Myoblast Differentiation Baseline human myoblast differentiation (untreated) Myostatin inhibits human myoblast differentiation IBIO-600 blocks My
Slide 12: 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 12 IBIO-600 Fc Engineering Drives Extended Half-Life in Obese NHPs 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 13: IBIO-600 Dose Modeling Predicts Low Dose Requirements
13 IBIO-600 Dose Modeling From Human Muscle Cells and Monkey PK Predicts Low Dose Requirements to Block Myostatin for Extended Durations IBIO-600 Blocks the Effect of Myostatin on Human Muscle Cells IC90 (90% inhibition level) = 1.2 ug/mL (7.97 nM) 0 20 40 60 80 10 100 1000 Days Serum mAb (ug/mL) IB
Slide 14: Allometric Scaling Predicts Potentially Extended Half-Life for IBIO-600
. 1 https://pmc.ncbi.nlm.nih.gov/articles/PMC9709760/#CR37 2 https://www.jstage.jst.go.jp/article/bpb/43/5/43_b19-01042/_html/-char/en Data on File 14 Allometric Scaling Predicts Potentially Extended Half-Life for IBIO-600, Enabling Infrequent Dosing and Prolonged Myostatin Inhibition Y=2.49x+17 0 1
Slide 15: PK Modeling Suggests IBIO-600 Can Be Dosed Twice-Yearly, Quarterly, or Co-Formulated
Data on file 15 PK Modeling Suggests IBIO-600 Can Be Dosed Twice-Yearly, Quarterly, or Co-Formulated With Weekly GLP-1s Twice Per Year Dosing (4 x 2 mL s.c.) 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 10
Slide 16: Single Low Dose of IBIO-600 Drives Sustained Muscle Gain and Fat Loss in NHPs
ROI (gluteal and thigh region) DEXA Data on file 16 Single Clinically Relevant Low Dose of IBIO-600 Drives Sustained Muscle Gain and Fat Loss in Aged, Obese Non-Human Primates Percent Increase in Lean Mass Weeks post dose 0 5 10 15 Change in lean mass (%, from baseline) 4 8 12 -20 -10 0 10 Change in
Slide 17: IBIO-600 Summary and Next Steps
* Financing Dependent 17 IBIO-600 Summary and Next Steps 9 NHP studies show potential best-in-class half-life, may enable dosing as infrequent as twice a year 9 Differentiated profile (myostatin and GDF11 blockade) drives robust lean mass growth and fat loss in NHPs 9 High expression titers and stab
Slide 18: IBIO-610 Anti-Activin E Antibody
IBIO-610 Anti-Activin E Antibody
Slide 19: IBIO-610 Targets Activin E to Drive Targeted Fat Loss
Type 2 Diabetes (T2D) 19 IBIO-610 Targets Activin E to Drive Targeted Fat Loss and Maintains Weight Reduction After GLP-1 Discontinuation Why We Target Activin E ƒ Activin E is a Hepatokine, produced in the liver and a member of the TGF E family ƒ Activin E and its receptor are highly genetically va
Slide 20: IBIO-610 Breaks New Ground as First-in-Class Antibody Targeting Activin E
20 IBIO-610 Breaks New Ground as the Known First-in-Class Antibody Targeting Activin E Antagonist antibody offers potential for greater Activin E inhibition than siRNA-based knockdown approaches Class-Leading Pathway Targeting Pre-clinical studies demonstrate weight loss with no impact on lean mass
Slide 21: IBIO-610 Exhibits High-Affinity Binding and Potent Inhibition of Activin E Signaling
Target Protein Binding Assay Reporter Cell Line Functional Assay Primary Human Adipocyte Assay Data on file 21 IBIO-610 Exhibits High-Affinity Binding and Potent Inhibition of Activin E Signaling in Engineered and Primary Human Fat Cells 0.001 0.01 0.1 1 10 100 0 2000 4000 6000 mAb (nM) RLU Isotype
Slide 22: IBIO-610 Induces 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 22 IBIO-610 Induces Fat-Selective Weight Loss in Diet-Induced Obese Mice 0 7 14 21 28 -15 -10 -5 0 5 Day Body Weight % Change Baseline and Vehicle Corrected PBS IBIO-610 -8.9% *** *** ***
Slide 23: IBIO-610 Synergizes with GLP-1 Through a Distinct Mechanism
Data on file 23 IBIO-610 Synergizes with GLP-1 Through a Distinct, Non-Appetite-Based Mechanism Synergistic Weight Loss No Additional Appetite Suppression Visceral Fat Reduction Study Design Week -16 High-fat diet induction Week -7 DEXA Day 1 DEXA Day 14 DEXA Day 28 Randomization and baseline 4 week
Slide 24: IBIO-610 Prevents Weight Regain Following GLP-1 Treatment in Obese Mice
Data on file 24 IBIO-610 Prevents Weight Regain Following GLP-1 Treatment in Obese Mice Significant Prevention of Weight Regain Fat-Specific Effect Study Design 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 I
Slide 25: The Next Wave of iBio Innovation: Early Pre-Clinical Programs
25 The Next Wave of iBio Innovation Early Pre-Clinical Programs
Slide 26: Harnessing Amylin Biology with Precision Targeting
*Dual Amylin and Calcitonin Receptor Agonists **Selective Amylin Receptor Agonist 26 Harnessing Amylin Biology with Precision Targeting: iBio’s Engineered Antibody Agonist Approach Why We Target Amylin Selective amylin receptor agonists (rather than DACRAs*) have potential as a more precisely target
Slide 27: Combined Myostatin and Activin A Antagonism
27 Combined Myostatin and Activin A Antagonism Synergistic Effect on Muscle Growth and Potential Treatment for Pulmonary Hypertension (PH) in Heart Failure With Preserved Ejection Fraction (HFpEF) We are developing bispecific co-inhibitors of Myostatin and Activin A to enhance muscle growth and impr
Slide 28: Myostatin and Activin A Bi-Specific Targets Both Key Negative Muscle Regulators
Data on file 28 iBio’s Myostatin and Activin A Bi-Specific Targets Both Key Negative Muscle Regulators, Synergistically Increasing Muscle Mass Increased muscle fusion index in human muscle stem cells is a surrogate of muscle growth Negative control (Myostatin + Activin A) without antibody Myostatin
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Slide 30: AI Epitope Engineering and Antibody Optimization Engines
Any Epitope on Any Drug Target AI Epitope Engineering and Antibody Optimization Engines unlock challenging target classes • Multi-layer technology platform addresses multiple challenges in Ab discovery • Patented Epitope Steering technology • Single-step Ab StableHu x Mammalian Display • Masked (Shi
Slide 31: AI Epitope Engineering and Antibody Optimization Engines
Any Epitope on Any Drug Target AI Epitope Engineering and Antibody Optimization Engines unlock challenging target classes • Multi-layer technology platform addresses multiple challenges in Ab discovery • Patented Epitope Steering technology • Single-step Ab StableHu x Mammalian Display • Masked (Shi
Slide 32: Mammalian Display Enables Rapid Whole Molecule Optimization
32 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 33: Corporate Summary
Corporate Summary
Slide 34: A Leadership Team with Deep Industry Experience
34 A Leadership Team with Deep Industry Experience Deep expertise in cardiometabolic disorders Marc Banjak CLO Martin Brenner, DVM, Ph.D. CEO & CSO Kristi Sarno Senior VP BD Felipe Duran CFO
Slide 35: Executive Summary
Executive Summary Corporate Highlights Differentiated Pipeline Solving for the Challenges of today’s GLP1’s ¾ Quality weight loss (IBIO-600, IBIO-610) ¾ Developability (IBIO-600, IBIO-610) Patented AI-Driven Discovery Tech Stack ¾ Rapidly advance a highly developable pre-clinical pipeline ¾ Solve ha
Slide 36: Appendix
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Slide 37: Pre-Clinical Immuno-Oncology Pipeline
37 Pre-Clinical Immuno-Oncology Pipeline
Slide 38: Beyond Cardiometabolic – Driving Value Within Our Oncology Pipeline
*Tumor Micro Environment 38 Beyond Cardiometabolic – Driving Value Within Our Oncology Pipeline Program MoA Potential Indications Early Discovery Late Discovery Lead Optimization IND-Enabling Highlights IBIO-101 Treg depletion, IL-2 sparing Solid tumors, orphan indications Synergistic efficacy with
Slide 39: Technology Stack
39 Technology Stack
Slide 40: iBio's Tech Stack Aims to Solve Major Challenges in Antibody Discovery & Development
40 iBio’s Tech Stack Aims to Solve Major Challenges in Antibody Discovery & Development Epitope Steering StableHu & Mammalian Display Unlocking Novel Biology Reduced Lead-Optimization Time Optimization in less than 4 weeks Minimized Developability Risk Mammalian Display in Manufacturing Cell Line Po
Slide 41: iBio's Tech Stack Addresses Immuno-oncology Discovery and Development Challenges
41 iBio’s Tech Stack Addresses Immuno-oncology Discovery and Development Challenges ShieldTx 2nd Gen T-cell Engager Panel Finely tuned T-cell engagement Adjustable T-cell engagement to fit any tumor target engager Improved safety prediction Cyno cross reactivity allows for better preclinical safety
Slide 42: StableHu Antibody Optimization & Mammalian Display Screening
Input Antibody StableHu AI-Engine Mammalian Display Output Antibody Template CDR Predict library of human CDR variants Single-cell screen mammalian display CDR library Optimized antibody with fully human CDRs 42 Accelerate Success: StableHu Antibody Optimization & Mammalian Display Screening Propel
Slide 43: "Smart" Antibodies: ShieldTx Conditionally Activated Antibodies
43 “Smart” Antibodies: ShieldTx Conditionally Activated Antibodies Strive to Improve Safety by Selectively Targeting Diseased but not Healthy Tissue H+ Diseased Tissue “On-epitope, off-tissue” therapy Healthy Tissue “On-epitope, on-tissue” therapy DME activation Diseased Tissue “On epitope, on tissu
Slide 44: EngageTx, a CD3-Based T-Cell Engager Panel
44 EngageTx, a CD3-Based T-Cell Engager Panel, Addresses 3 Key Challenges: Cytokine Release, NHP Cross-Reactivity and Immunogenicity Risk Numerous tumor antigen arms Diverse CD3 engager arms 1 Sequence Diversity 2 Hu-Cyno Cross-Reactivity Range of Cytokine Release 3 Increased humanness and broad CD3
Slide 45: iBio's Platform Tackles Discovery Challenges for the Next Era of Antibodies
Epitope Engineering Engine* Proprietary Antibody Library AI-powered mammalian-display co-optimization of mono/multi-specific antibody and conditionally activated mask Engineered Epitope Steering AI-powered engineering of conformational epitopes Epitope-specific antigens that steer discovery to inten