Jade Biosciences, Inc. · NASDAQ:JBIO
Jade Biosciences — Investor Presentation (August 2026)
45 slides from Jade Biosciences's investor presentation, August 2026
Slide 1: Company Overview
August 2026 Company Overview NAS DAQ: JBI O
Slide 2: Disclaimers
Disclaimers F O R W A R D L O O K I N G ST A T E M E N T S Certain statements contained in or made orally during 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 “
Slide 3: Advancing potentially best-in-class therapies for autoimmune diseases
Advancing potentially best-in-class therapies for C O M P A N Y O V E R V IE W autoimmune diseases Well-funded through multiple upcoming milestones; runway into the fourth quarter of 2028 POTE NTIA L P ROG R AM MO A P RE C LINIC AL P HAS E 1 P HAS E 2 P HAS E 3 IND ICA TIONS Candidates designed to m
Slide 4: JADE101
JADE101 A potentially best-in-class anti- APRIL mAb for IgAN 4
Slide 5: IgAN is a $20B+ potential market in the U.S. alone
IgAN is a $20B+ potential market in the U.S. alone J A D E1 0 1 ~169K+ IgAN patients in the U.S., with 60-75% ~1M+ global patients, significant ex-U.S. requiring treatment per international guidelines market potential Require Treatment No Additional Treatment Required U.S. E.U. Japan China 0 50,000
Slide 6: A need for effective and convenient therapies for lifelong treatment
A need for effective and convenient therapies for J A D E1 0 1 lifelong treatment High lifetime risk of end-stage kidney disease IgAN is a progressive autoimmune kidney disease requiring lifelong treatment, with significant need for well-tolerated, disease- modifying therapies that offer convenient
Slide 7: Updated KDIGO guidelines position the anti-APRIL class as the foundational therapy in IgAN
Updated KDIGO guidelines position the anti-APRIL class as J A D E1 0 1 the foundational therapy in IgAN KDIGO updates: IgAN patients at risk of progressive kidney ▪ Expected to increase IgAN function loss diagnosis ▪ Expand at-risk patient In all patients these population requiring Drivers of Manage
Slide 8: Reducing pathogenic IgA production by plasma cells
Reducing pathogenic IgA production by plasma cells J A D E1 0 1 A potentially disease-modifying approach for IgAN B cell depletion or reduction is …while targeted plasma cell ineffective in IgAN… modulation is highly effective Neutralizing APRIL depletes Gd-IgA1, ▪ B cell depletion with rituximab (a
Slide 9: Phase 3 IgAN data have not demonstrated additional benefit from dual APRIL/BAFF
Phase 3 IgAN data have not demonstrated additional patient J A D E1 0 1 benefit from dual APRIL/BAFF vs selective APRIL inhibition Study populations were representative of high-risk, global IgAN patients Sibeprenlimab Atacicept Povetacicept UPCR Δ from baseline (%, 9 months) UPCR Δ from baseline (%,
Slide 10: Potentially best-in-class properties of JADE101
Potentially best-in-class properties of JADE101 J A D E1 0 1 Fully-human, ultra-high binding affinity, and extended half-life Novel epitope discovered through de novo campaign to Ultra-high (fM) APRIL binding achieve first fully-human, affinity potentially best-in-class anti- ▪ Binds APRIL to neutra
Slide 11: IgA responses consistent between HVs and IgAN patients and predictive of clinical activity
IgA responses are consistent between HVs and IgAN J A D E1 0 1 patients and predictive of clinical activity IgA reduction in HVs is highly correlated with IgA …and early IgA reduction further correlates with reduction in IgAN patients at multiple time points… W36 UPCR reduction, in IgAN patients M E
Slide 12: JADE101 Interim Phase 1 Data
JADE101 Interim Phase 1 Data 12
Slide 13: JADE101 Phase 1 study met or exceeded objectives
JADE101 Phase 1 study met or exceeded objectives J A D E1 0 1 Clinical data support potential for every-12-week subcutaneous dosing with best-in-class, disease- modifying potential ENDPOINT JAD E101 OBJECT IVE JAD E101 DAT A Dosing ▪ Single SC maintenance dose Q8W Potential for single SC maintenance
Slide 14: JADE101 Phase 1 study ongoing
JADE101 Phase 1 study ongoing P HAS E 1 D ES I G N Dose levels and length of follow-up to date ▪ Randomized, double-blind, placebo- controlled ▪ Single ascending dose 17 5 M G S C: Follow-up: ~8 months N = 6: 2 ▪ Subcutaneous administration (175 mg/mL) P O P U LA TIO N 35 0 M G S C: ▪ 32 healthy adu
Slide 15: Baseline characteristics were typical of healthy volunteers
Baseline characteristics were typical of healthy volunteers P HAS E 1 J A D E1 01 A N D 1 75 M G 3 50 M G 7 00 M G 1 ,4 00 M G AL L COHOR TS P L A C EB O N 8 8 8 8 32 Age, (yr), 38.0 (7.86) 44.5 (9.87) 28.0 (9.04) 37.6 (13.70) 37.0 (11.51) Mean (SD) Female 2 (25) 6 (75) 3 (38) 5 (63) 16 (50) N (%) W
Slide 16: JADE101 favorable safety profile, well tolerated across all doses
JADE101 demonstrated favorable safety profile and was P HAS E 1 well tolerated across all evaluated doses ▪ No severe AEs or deaths Healthy Volunteer SAD Safety Summary ▪ All TEAEs were mild/moderate in J A D E1 01 A N D AL L severity P L A C EB O 1 75 M G 3 50 M G 7 00 M G 1 40 0 M G COHOR TS ▪ No
Slide 17: JADE101 single dose IgA reductions exceeded first-generation molecules
JADE101 single dose IgA reductions exceeded those P HAS E 1 reported with first-generation molecules IgA Change from IgA reduction in Healthy Baseline by Dose Volunteers ▪ Prolonged IgA reductions of ~70% 20 S I BE P R E N LI M A B PO VE T A C IC E PT J AD E 1 0 1 following a single dose of JADE101
Slide 18: JADE101 demonstrated in vivo potency to lower IgA
JADE101 demonstrated compelling in vivo potency to lower P HAS E 1 IgA APRIL Binding Affinity and IgA Lowering Potency ▪ Ultra-high APRIL binding affinity predicted JADE101’s enhanced in vivo potency to lower serum IgA in humans 1000 ▪ JADE101 has shown rapid, deep and sustained IgA depletion 100 Zi
Slide 19: JADE101 PD modeling supports Q12W maintenance dosing
JADE101 PD modeling supports Q12W maintenance dosing P HAS E 1 Deeper IgA reductions simulated over first-generation anti-APRILs Simulated IgA vs Time – 48 weeks ▪ JADE101 induction dose (700 mg) 0 predicted to rapidly maximize IgA depletion -10 ▪ >70% IgA reductions projected at JADE101 350 mg SC Q
Slide 20: IgA reductions for 12 weeks enabled by dose-dependent PK and fAPRIL suppression
IgA reductions for 12 weeks enabled by dose-dependent PK P HAS E 1 and rapid, complete, and sustained fAPRIL suppression Pharmacokinetics fAPRIL ▪ ~8.7 fold longer half-life than povetacicept; ~2.6 fold longer than sibeprenlimab 100 ▪ JADE101 half-life: 24.2 days 50 J A DE 1 0 1 C O N C . ( μ g / m
Slide 21: Changes in IgG, IgM and IgE consistent with selective anti-APRIL MoA
Changes in IgG, IgM and IgE were consistent with the P HAS E 1 selective anti-APRIL MoA IgG IgM IgE ▪ Magnitude of IgG- lowering consistent 10 10 with relatively IgG- 0 0 0 sparing selective- 10 50 10 I g M C FB ( % ) anti-APRIL MoA I g G C FB (% ) I gE CF B ( %) 30 ▪ No cases of IgG 30 30 10 0 ≤ 3
Slide 22: JADE101 Next steps
JADE101 Next steps 22
Slide 23: Q12W dosing expected to optimize clinical activity and convenience
Q12W dosing expected to optimize clinical activity and N E X T ST EP S convenience for patients ▪ Plan to evaluate two dosing regimens (Q12W and Q8W) in Phase 2 and Phase 3 ▪ Two dose Phase 3 may enable an accelerated Phase 3 initiation without awaiting Phase 2 data ▪ Supports global regulatory expe
Slide 24: JADE101 Phase 2 IgAN trial initiated; interim data anticipated in 2027
JADE101 Phase 2 IgAN patient trial initiated; interim data N E X T ST EP S anticipated in 2027 W E EK 0 D ES I G N Induction Dose 700 mg ▪ Randomized, open-label ▪ Subcutaneous administration P O P U LA TIO N W E EK 4 ▪ Adults with IgAN within 5 yrs Maintenance Dosing 350 mg ▪ Proteinuria ≥0. 5 g/g
Slide 25: JADE201
JADE201 a potentially best-in-class afucosylated anti-BAFF-R mAb 25
Slide 26: A potentially best-in-class afucosylated anti-BAFF-R mAb
A potentially best-in-class afucosylated anti-BAFF-R mAb J A D E2 0 1 With dual MOA B cell depletion to treat autoimmune diseases ▪ B cell depletion has proven effective in autoimmune disease, but existing therapies like ▪ Resistance mechanisms, particularly elevated BAFF after JADE201 builds rituxi
Slide 27: JADE201's dual MOA expected to deliver deeper, more durable B cell depletion
JADE201's dual MOA expected to deliver deeper, more J A D E2 0 1 durable B cell depletion Direct Cytotoxicity via Enhanced B Cell Inhibition and Depletion by BAFF Effector Function Starvation ▪ Validated mechanism that induces rapid B cell ▪ Mechanism works in context of low receptor expression depl
Slide 28: Potentially best-in-class properties of JADE201
Potentially best-in-class properties of JADE201 J A D E2 0 1 Novel IP for composition of matter into mid-2040s HLE via Fc LS mutation ▪ Predicted to match, with potential for improved clinical activity due to increased exposure compared to ianalumab with less frequent dosing Binds BAFF-R broadly exp
Slide 29: JADE201 high BAFF-R binding affinity and functional activity in preclinical studies
JADE201 exhibits high BAFF-R binding affinity and J A D E2 0 1 functional activity in preclinical studies BAFF-R Binding (HEK Cells) BAFF-R Blockade (Competition ELISA) 15000 120 100 I N H IB IT I O N % 10000 E 50(n ) I 50(n ) 0 ianalumab 1.65 ianalumab 2.01 MF I 60 JADE201 1. JADE201 2.0 5000 0 20
Slide 30: JADE201 demonstrates deep B cell depletion in NHPs
JADE201 demonstrates deep B cell depletion in NHPs J A D E2 0 1 JADE201 PK BAFF-Receptor B Cell Depletion JADE201 Occupancy (RO) demonstrates 106 120 1 0 BA FF R O O N B C E L LS ( % M E A N ± S E M) ME A N ( ± S E M ) B C E L L D EN SI TY (C O U N T/ U L) C F B (% ) J A DE 2 0 1 C O N C EN T RA T I
Slide 31: JADE201 differentiated NHP PK profile from ianalumab
JADE201 demonstrates a differentiated NHP PK profile J A D E2 0 1 from ianalumab >2X HLE demonstrated in NHPs HLE has potential to provide sustained 1000 Ianalumab, 30 mg/kg I BAFF receptor occupancy and improved clinical response JADE201, 30 mg/kg I M E A N ( + SD ) C O N C E N TR A TI O N ( μ G /
Slide 32: JADE201 first-in-human trial underway; interim data expected in 2027
JADE201 first-in-human trial underway; interim data J A D E2 0 1 expected in 2027 Phase 1 Study Design Objectives JADE201 Randomized, double-blind, placebo-controlled SAD study P RIM ARY preclinical profile supports potential SC administration in adults (n=36) with rheumatoid arthritis. ▪ Safety and
Slide 33: JADE201 could enable broad opportunity in multiple indications
JADE201 profile could enable broad opportunity in multiple J A D E2 0 1 indications where B cells are pathogenic U.S. Disease Prevalence1 Disease severity and key Tx modalities across indications2: Sjögren’s ~3.5M Disease JADE201 core opportunity Lupus Nephritis ~85,000 Moderate-to-severe Refractory
Slide 34: JADE301: IFN-β Neutralizing mAb for Dermatomyositis
JADE301: IFN-β Neutralizing mAb for Dermatomyositis (DM) 34
Slide 35: Dermatomyositis is a debilitating autoimmune disease affecting ~50K U.S. adults
Dermatomyositis is a debilitating autoimmune disease J A D E3 0 1 affecting ~50K U.S. adults A chronic, multisystem disease High impact on daily activities ▪ Affects adults and children, with higher prevalence Potential lung, CV and 58% in women malignancy-related 53% complications experience ▪ 60–8
Slide 36: Current care is steroid-dependent and burdensome
Current care is steroid-dependent and burdensome J A D E3 0 1 IVIG, only FDA-approved DM therapy requires inconvenient multi-day monthly IV infusions and comes with significant toxicity ▪ Steroids are used in ~80% of DM Therapies Received by ~34K patients and come with Opportunity for a Treated Derm
Slide 37: Potentially best-in-class properties of JADE301
Potentially best-in-class properties of JADE301, an IFN-β J A D E3 0 1 neutralizing mAb Novel anti-IFN-β mAb from a de novo antibody discovery Predicted differentiated SC campaign dosing for patient convenience Binds IFN-β with higher affinity than existing therapies Effector-null fully human Half-l
Slide 38: IFN-β is a key driver of skin and muscle disease in DM
IFN-β is a key driver of skin and muscle disease in DM J A D E3 0 1 Excess IFN-β can amplify inflammation, impair muscle repair and contribute to tissue damage ▪ Type I interferon signaling is markedly overactive in DM skin and muscle ▪ Excess signaling activates immune Epidermal IFN-β cells, impair
Slide 39: JADE301 combines targeted mechanism with differentiated molecular profile
JADE301 combines a targeted mechanism with a J A D E3 0 1 differentiated molecular profile in DM JADE301 designed to selectively neutralize IFN-β and interrupt disease-driving signal ▪ Designed to directly inhibit activity of IFN-β, quieting immune activation, muscle and skin damage ▪ Potential dise
Slide 40: JADE301 best-in-class potential for IFN-β, a validated target for DM
JADE301 has best-in-class potential for IFN-β, a validated J A D E3 0 1 target for DM ▪ Dazukibart Phase 2 data demonstrated best-in- disease improvement in cutaneous disease activity (CDASI), and was well-tolerated ▪ Dazukibart is dosed Q4W, IV ▪ 2% of patients achieved ≥ 0% reduction in DASI ▪ Pos
Slide 41: Selective IFN-β blockade and SC dosing position JADE301 for best-in-disease potential
Selective IFN-β blockade and SC dosing position JADE301 J A D E3 0 1 for best-in-disease potential E F F I C A C Y ( PB O - A D J U ST ED ) PROD U CT W E E K 12 / F UR T H E S T R E P OR T E D S AFE TY D O SI N G C O N V E N I E N C E M E CH A N I S M · R O UT E · S T A G E TIS CD AS I Dazukibart ✓
Slide 42: JADE301 Phase 1 healthy volunteer study expected Q4 2026
JADE301 Phase 1 healthy volunteer study expected to begin J A D E3 0 1 Q4 2026; interim data anticipated in 2H 2027 Phase 1 Study Design Objectives Phase 1 HV study Placebo-controlled, single ascending-dose study P RIM ARY designed to generate key data SC administration in healthy volunteers (N=24)
Slide 43: Advancing potentially best-in-class therapies for autoimmune diseases
Advancing potentially best-in-class therapies for C O M P A N Y O V E R V IE W autoimmune diseases Well-funded through multiple upcoming milestones; runway into the fourth quarter of 2028 POTE NTIA L P ROG R AM MO A P RE C LINIC AL P HAS E 1 P HAS E 2 P HAS E 3 IND ICA TIONS Candidates designed to m
Slide 44: Current capitalization
Current capitalization C U R R E N T C A P I TA L IZ A T IO N Common stock Shares outstanding 63,556,065 Preferred stock (as converted to common stock) 12,622,000 Common stock equivalents Pre-funded warrants 7,715,189 Common stock & Total outstanding 83,893,254 common stock equivalents Notes: As of
Slide 45: Thank you
Thank you JADEBIOSCIENCES.COM INFO@JA DEBIOSCI ENCES.COM NASDAQ: JBIO
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