Chemomab Therapeutics Ltd. · NASDAQ:CMMB
Chemomab Therapeutics — Merger or Acquisition (September 2026)
32 slides from Chemomab Therapeutics's merger presentation, September 2026
Slide 1: Leaders in Immunology Precision Medicine
Leaders in Immunology Precision Medicine Leaders in Immunology Precision Medicine Transforming Rheumatoid Arthritis Treatment . CCL24’s role in RA Next-Generation Through known for 15+ years: Precision Medicine September 2026 ©2026 Scipher ©2026 ScipherMedicine. Medicine.All All rights reserved righ
Slide 2: Forward-Looking Statement
Forward-Looking Statement Forward-Looking Statement This corporate presentation (this “Presentation”) relates to a proposed transaction (the “Merger”) involving Scipher Medine Corporation (“Scipher”) and Chemomab Therapeutics Ltd. (“Chemomab”). This Presentation, along with certain statements that m
Slide 3: Nebokitug: Scipher's Platform Unlocks De-Risked Opportunity in RA
Nebokitug: Scipher’s Platform Unlocks De-Risked Opportunity in RA Novel Anti-CCL24 Mechanism with CCL24 inhibition targets both inflammatory and fibrotic disease biology, offering Disease-Modifying Potential potential for a differentiated mechanism in RA Large Commercial Opportunity RA is a major $2
Slide 4: Rheumatoid Arthritis: Large Market With Substantial Unmet Need
Rheumatoid Arthritis: Large Market With Substantial Unmet Need $ 24B+ global RA market 1 $120B+ global immunology market1 Substantial unmet need Trial & Error treatment selection Only 1 in 3 moderate-severe patients achieves low disease activity 2,3 Current therapies rely primarily on inflammation-f
Slide 5: Many RA Patients Do Not Achieve Low Disease/Remission with Current Treatments
hieve Low Disease/Remission with Current Treatments Many RA Patients Do Not Achieve Low Disease/Remission with Current Treatments Current Approach in Treating RA is Trial & Error1-4 Most Moderate-Severe Patients Remain with Active Disease Despite Treatment Moderate- First-Line 2 of 3 treated pts 1-4
Slide 6: Lack of Innovation Leaves RA Ripe for Disruption
Lack of Innovation Leaves RA Ripe for Disruption 2012 2012 2019 2026 Last new RA MOA Last branded RA drug No novel Phase 3 drugs in approved by FDA 1 approved by FDA 1 US development 1 (JAKi) (Rinvoq) 1. Citeline, PharmaProjects accessed 03.19.2026, Scipher analysis. ©2026 Scipher Medicine. All righ
Slide 7: Precision Medicine Transformed Oncology―Immunology is Next
Precision Medicine Transformed Oncology―Immunology is Next Precision Medicine Transformed Oncology―Immunology is Next Oncology Transformed ~7X higher probability of approval with by Precision Medicine 1 biomarkers 1,2 Scipher’s AI Network Medicine technology Immunology – The platform has the potenti
Slide 8: Scipher's Expertise & Core Capabilities Support Rheumatoid Arthritis Focus
Scipher’s Expertise Core Capabilities Support Rheumatoid Arthritis Focus Scipher’s Expertise & Core Capabilities Support Rheumatoid Arthritis Focus RA Platform & Commercial Test: Commercial & RA Clinical Data Analytics PrismRA® Lab Capabilities Infrastructure Leading First & only CMS Own/Operate 30+
Slide 9: Spectra: Combines AI, Network Biology & Proprietary Data to Identify Novel Targets
Spectra TM: Combines AI, Network Biology & Proprietary Data to Identify Novel Targets and Develop Treatment Response Tests 95% 65% 14% 2005 2012 2024 Mapped 95%+ of human AI/ML platform analyzes disease clusters Targets: Selection; tox evaluation & protein-protein interactions prioritization; Biomar
Slide 10: Scipher's Spectra Platform Ranks Nebokitug in Top 1% for RA
Scipher’s SpectraTM Platform Ranks Nebokitug in Top 1% for RA Scipher’s Spectra TM Platform Ranks Nebokitug in Top 1% for RA Nebokitug MOA ranks highest for RA vs approved & clinical-stage drugs MOAs Rank Top 1% Nebokitug 1%* JAK-3i 2% JAK-1i 3% Top >1-5% JAK-2i 3% IL-6i 4% Top 5-10% TNFi 8% >10% CD
Slide 11: PrismRA: Immunology's First CMS-Approved MTRS Diagnostic
PrismRA®: Immunology’s First CMS-Approved MTRS Diagnostic PrismRA®: Immunology’s First CMS-Approved MTRS Diagnostic Scipher’s Next-Generation MTRS Identifies TNFi Non-Responders; Built on the SpectraTM Platform 19 genomic markers + 4 patient specific features1 ~1,700 rheumatologists have ordered ~50
Slide 12: CMS Data: PrismRA Substantially Improves Patient Outcomes at 6 Months
CMS Data: PrismRA® Substantially Improves Patient Outcomes at 6 Months CMS Data: PrismRA® Substantially Improves Patient Outcomes at 6 Months PrismRA ® Real-World Data 1 60.0% CDAI-LDA/REM CDAI-REM 50.0% +50% % achieving improvement at 6 months 40.0% 36.0% 30.0% +180% 21.9% 20.0% 10.4% 10.0% 3.6% 0.
Slide 13: PrismRA Changes Rheumatologists' Behavior and Moves Market Shares
PrismRA® Changes Rheumatologists’ Behavior and Moves Market Shares1,2 PrismRA® Changes Rheumatologists’ Behavior and Moves Market Shares1,2 Rx% without Rx% with Drug Class PrismRA 1 PrismRA 1 TNFi 70% 49% 30% JAKi 17% 23% 35% T-Cell 9% 19% 111% IL6i 4% 8% 100% *Non-Oncology 1. Karpouzas G, et al. Pr
Slide 14: Scipher's Path to Immunology Leadership Starts with Nebokitug & RA
Scipher’s Path to Immunology Leadership Starts with Nebokitug RA Scipher’s Path to Immunology Leadership Starts with Nebokitug & RA Spectra TM Precision Medicine Nebokitug Platform: AI-Powered Network Biology First–in-Class, Dual-Acting Drug Candidate • Created PrismRA® ― 1 st CMS-approved MTRS • Di
Slide 15: Evidence Supporting Nebokitug & CCL24 Role in Rheumatoid Arthritis Pathology
Evidence Supporting Nebokitug CCL24 Role in Rheumatoid Arthritis Pathology Evidence Supporting Nebokitug & CCL24 Role in Rheumatoid Arthritis Pathology 1. CCL24’s role in RA known for 15+ years: Recent publications show CCL24 is upregulated in arthritis & targets TGFβ fibrosis pathways, a key driver
Slide 16: Approved RA Therapies Target Inflammation Alone; CCL24 Inhibition Targets Both
Approved RA Therapies Target Inflammation Alone CCL24 Inhibition Targets Both Inflammation & Fibrosis Approved RA therapies are inflammation- focused and only indirectly affect fibrosis CCL24 blockade is the first approach to directly target both inflammation & fibrosis Sources: ACR 2021 RA Treatmen
Slide 17: CCL24 is Elevated in Arthritis Patients Who Need Advanced Therapy
CCL24 is Elevated in Arthritis Patients Who Need Advanced Therapy All synovial fluid samples were collected before DMARD/bDMARD initiation (patients on no meds or NSAIDs only at collection) Whole cohort (n=16 vs n=25) Persistent, no meds (n=15) Extended, DMARD/bDMARD * (n=10) 400 * 5 * 5 350 337.6 4
Slide 18: CCL24 Plays Direct Role in Promoting Fibrosis via CCR3-TGFß Pathway Activation
CCL24 Plays Direct Role in Promoting Fibrosis via CCR3-TGFß Pathway Activation CCL24 Plays Direct Role in Promoting Fibrosis via CCR3-TGFß Pathway Activation Parthiban P, et al. Macrophage-Derived CCL24 Promotes Cardiac Fibrosis Via Fibroblast CCR3. Circ Res. 2025 Oct 10;137(9):1140-1156. ©2026 Scip
Slide 19: Evidence Supporting Nebokitug & CCL24 Role in Rheumatoid Arthritis Pathology
Evidence Supporting Nebokitug CCL24 Role in Rheumatoid Arthritis Pathology Evidence Supporting Nebokitug & CCL24 Role in Rheumatoid Arthritis Pathology 1. CCL24’s role in RA known for 15+ years: Recent publications show CCL24 is upregulated in arthritis & targets TGFβ fibrosis pathways, a key driver
Slide 20: Phase 2 PSC Trial: Nebokitug Dose Dependently Reduces Inflammatory Biomarkers
PSC Trial: Nebokitug Dose Dependently Reduces Inflammatory Biomarkers Phase 2 PSC Trial: Nebokitug Dose Dependently Reduces Inflammatory Biomarkers IL-6 IL-18 CD14 PowerPoint Presentation at EASL Congress 2025 accessed 2026.04.09. ©2026 Scipher Medicine. All rights reserved / Scipher.com 20
Slide 21: Phase 2 PSC Trial: Nebokitug Dose Dependently Reduces RA-Associated Biomarkers
Phase 2 PSC Trial: Nebokitug Dose Dependently Reduces RA-Associated Biomarkers NPX – normalized protein expression Z score- how many standard deviations a data point is from the mean HC=healthy controls RA=rheumatoid arthritis 21 ©2026 Scipher Medicine. All rights reserved / Scipher.com
Slide 22: Phase 2 PSC Trial: Nebokitug Dose Dependently Downregulates TGFß
Phase 2 PSC Trial: Nebokitug Dose Dependently Downregulates TGFß – A Key Determinant of Fibrosis in RA Phase 2 PSC Trial: Nebokitug Dose Dependently Downregulates TGFß – A Key Determinant of Fibrosis in RA Chemomab, Spring 2 study. 15wks data. 3.7.1.2.4 - CHB-CM101-1063 Olink.pdf accessed 2026.04.09
Slide 23: Protective Effect of CCL24 Inhibition in Preclinical RA AIA Model
Protective Effect of CCL24 Inhibition in Preclinical RA AIA Model Protective Effect of CCL24 Inhibition in Preclinical RA AIA Model CCL24 blockade prevented joint damage and reduced synovial inflammation Direct evidence CCL24 drives disease Ablin JN, et al. Protective effect of eotaxin-2 inhibition
Slide 24: Phase 2 PSC Trial: Nebokitug Achieves Primary Safety Endpoint
Phase 2 PSC Trial: Nebokitug Achieves Primary Safety Endpoint Favorable vs. Current RA Market Leaders, With No Safety Warning Expected Treatment Emergent Adverse Events Nebokitug Nebokitug Nebokitug N, (%) Placebo 10mg/kg 20mg/kg All n=20 n=25 n=31 n=56 Treatment Emergent Adverse Events (TEAE) 15 (7
Slide 25: Scipher Aims to Select the Right Drug for Patients at the Start
Scipher Aims to Select the Right Drug for Patients at the Start ― Reducing Time Costs While Achieving Better Outcomes Scipher Aims to Select the Right Drug for Patients at the Start ― Reducing Time & Costs While Achieving Better Outcomes The Future of Immunology is Precision Medicine Moderate- Nebok
Slide 26: Phase 2 Trial Design Uses FDA Standard RA Endpoints and Incorporates PrismRA
Phase 2 Trial Design Uses FDA Standard RA Endpoints and Incorporates Scipher’s Validated PrismRA© for Patient Enrollment Phase 2 Trial Design Uses FDA Standard RA Endpoints and Incorporates Scipher’s Validated PrismRA© for Patient Enrollment Randomized Blinded Follow- Screening Treatment Up IV Q3W P
Slide 27: Nebokitug Phase 2 RA Trial Timeline
Nebokitug Phase 2 RA Trial Timeline Next-Generation CDx Approach Nebokitug Phase 2 RA Trial Timeline Next-Generation CDx Approach 2026 2027 2028 Q3 Q4 Q1 Q2 Q3 Q4 H1 Pre-IND IND Approval P2 Submission completion Recruitment with PrismRA CDx Development Planned Phase 2 Trial Cohorts N=35 (Placebo) /
Slide 28: Scipher Management Team Has Broad Industry Experience
r Management Team Has Broad Industry Experience Scipher Management Team Has Broad Industry Experience Dina Ghaissian, PhD Senior Vice President, Precision Therapeutics & Network Medicine ©2026 Scipher Medicine. All rights reserved / Scipher.com / 1-855-724-7437 28
Slide 29: Post-Merger Scipher Medicine Leads with Nebokitug Phase 2 Development in RA
Post-Merger Scipher Medicine Leads with Nebokitug Phase 2 Development in RA Complete Plan to Grow Intend to Build Aim to Transform Nebokitug Phase 2 Profitable Dx Valuable Clinical Drug RA Readout* Business with Immunology Data Development PrismRA® Lake Business Expected H1 2028 by lowering COGs thr
Slide 30: Overview of Scipher Chemomab Merger
Overview of Scipher Chemomab Merger Overview of Scipher Chemomab Merger ▪ All stock transaction ▪ Expected shareholder ownership post-merger: Scipher ~68%; Chemomab ~32% ▪ Contingent Value Rights (CVRs): Chemomab shareholders expected to receive certain CVRs ▪ Combined companies to be known as Sciph
Slide 31: Nebokitug: Scipher's Platform Unlocks De-Risked Opportunity in RA
Nebokitug: Scipher’s Platform Unlocks De-Risked Opportunity in RA Novel Anti-CCL24 Mechanism with CCL24 inhibition targets both inflammatory and fibrotic disease biology, offering Disease-Modifying Potential potential for a differentiated mechanism in RA Large Commercial Opportunity RA is a major $2
Slide 32: Thank you!
Leaders in Immunology Precision Medicine Leaders in Immunology Precision Medicine Transforming Rheumatoid Arthritis Treatment . CCL24’s role in RA Next-Generation Through known for 15+ years: Precision Medicine Thank you! ©2026 Scipher ©2026 ScipherMedicine. Medicine.All All rights reserved rights /
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