Jasper Therapeutics, Inc. · NASDAQ:JSPR
Jasper Therapeutics — Merger or Acquisition (July 2026)
30 slides from Jasper Therapeutics's merger presentation, Jul 17, 2026
Slide 1: Kira Pharma / Jasper Therapeutics
(Kira JASPER PHARMA THERAPEUTICS
Slide 2: Safe Harbor Statements
2 Safe Harbor Statements Forward-Looking Statements Certain statements contained in this presentation are or may be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate stric
Slide 3: Merger, Concurrent PIPE and Out-License
3 Merger • On July 16, 2026, Kira Pharmaceuticals ("Kira") and Jasper Therapeutics, Inc. (NASDAQ: JSPR) entered into a merger agreement whereby Jasper acquired all outstanding shares of Kira in in an all-stock transaction, and concurrently raised $132 million in a PIPE offering • On a fully diluted
Slide 4: Jasper Executive Team
4 Jasper Executive Team Experienced drug developers focused on driving value Wenru Song, MD, PhD Executive Vice President and Head of R&D Ex-VP level clinical positions at large pharma companies Greg Keenan, MD Chief Medical Officer Rheumatologist, antibody drug developer & former CMO at publicly tr
Slide 5: Combined Company Investment Highlights
5 • $14B+ addressable market across complement-mediated disorders1 • Phase 2/3 ready in renal and hematology indications • Innovative, bifunctional biologic targeting both alternative & terminal pathways • Preclinical data demonstrated potential superiority vs. single pathway therapies (C5, Factor B
Slide 6: Expected Upcoming Milestones
6 Expected Upcoming Milestones Phase 3 Phase 2 Phase 1 IND Indication Mechanism of Action Q4 '26: Interim data (Stage 1) Q2 '27: Updated data (Stage 1) Q2 '27: Interim data (Stage 2) IgA Nephropathy (IgAN), Complement 3 Glomerulopathy (C3G), Focal Segmental Glomerulosclerosis (FSGS) Anti-C5 mAb + Fa
Slide 7: $14B+ Addressable Market in Complement Disorders
7 $9.4 $10.2 $11.2 $12.1 $13.0 $13.6 $14.2 $14.4 – $2.0 $4.0 $6.0 $8.0 $10.0 $12.0 $14.0 $16.0 2025A 2026E 2027E 2028E 2029E 2030E 2031E 2032E Global Terminal & Alternative Pathway Complement Inhibitors Sales ($ in billions) Soliris Ultomiris Fabhalta Voydeya Tavneos Empaveli / Syfovre Piasky Izerva
Slide 8: KP-104 (Vensobafusp alfa) Anti-C5 mAb + Factor H Bifunctional Biologic
KP-104 (Vensobafusp alfa) Anti-C5 mAb + Factor H Bifunctional Biologic
Slide 9: KP-104: Dual-Action, Potential Best-in-Class Complement Inhibitor
9 KP-104: Dual-Action, Potential Best-in-Class Complement Inhibitor Validated Rationale: • Complement dysregulation – particularly alternative pathway amplification and MAC formation – is well-documented across multiple renal disorders (IgAN, C3G, aHUS, etc.) Dual Mechanism of Action: • Simultaneous
Slide 10: Introducing KP-104: Dual Inhibition Unlocks Broad Applicability
10 Introducing KP-104: Dual Inhibition Unlocks Broad Applicability Across PNH and Other Complement-Driven Diseases TERMINAL PROXIMAL (ALTERNATIVE) • Anti-C5 antibody engineered for a longer half-life with similar potency to ravulizumab • Unique C5- and C5b-binding epitope preventing MAC formation •
Slide 11: KP-104 Preclinical Potency Assays
11 RABBIT RBCS LYSIS ASSAY KP-104 more potent than: • Anti-C5 mAb alone • Alternative pathway (AP) regulatory (Factor H1-5-Fc) alone • Anti-C5 mAb and AP regulator (FH1- 5-Fc) together KP-104 is more potent than anti-C5 mAb or Factor H SCR1-5-Fc (alone or combined) in inhibiting AP-triggered termina
Slide 12: Confirming long-term effects of KP-104 in naïve PNH patients
12 Confirming long-term effects of KP-104 in naïve PNH patients • Consistent and favorable safety profile • Improved and sustained clinical responses at OBD treatment • Demonstrated effectiveness in controlling IVH and EVH Strong clinical data supporting KP-104 as a potential standard of care • Pote
Slide 13: PNH-201: Durable Hgb Improvement with Hgb Normalization at 2 Years
13 PNH-201: KP-104 Dual Inhibition Drives Durable Hgb Improvement with Hgb Normalization in 82% of Patients at 2 Years Sustained Hgb Improvement Reflects Controls of Both IVH and EVH with KP-104 % Patients with Hgb Normalization Mean Hgb Improvement from Baseline (g/dL) Sources: KP104: ASH 2025 abst
Slide 14: KP-104's Unique MOA Enables Expansion Beyond PNH
14 KP-104's Unique MOA Enables Potential Expansion into Other Indications Beyond PNH Hematology Lead Asset (KP-104) Opportunities Renal Other PNH1: 28K patients aHUS1: 9K patients (US, EU5, Japan & China) IgAN2: 27k patients C3G2: 4.3k patients FSGS2: 6.5k patients >$9B US market opportunity2 gMG1:
Slide 15: KP-104 Phase 2 Basket Study in Rare Renal Indications
15 Opportunity to demonstrate KP-104's best-in-class potential and differentiated profile in renal indications vs. other complement inhibitors KP-104 is Being Evaluated in an Ongoing Phase 2 Basket Study in Rare Renal Indications With Potential to Achieve Fast POC IgAN • IgAN pathogenesis involves b
Slide 16: Briquilimab Potential Best-in-Class Anti-KIT Antibody
Briquilimab Potential Best-in-Class Anti-KIT Antibody
Slide 17: Briquilimab: Broad Therapeutic Potential Across Transplant & Immunology
17 Briquilimab: Broad Therapeutic Potential Across Transplant & Immunology Update on SCID program in Q4'26 & regulatory feedback expected in Q1'27 SCF KIT (CD117) Briquilimab Briquilimab Blocks SCF binding to KIT (CD117) to directly inhibit receptor signaling Validated Mechanism of Action • Briquili
Slide 18: Briquilimab Open-Label Extension Results
18 Open-Label Extension CSU: N = 87 H1-AH1 failed CIndU: N = 27 H1-AH failed (ColdU and SD) SCID, Fanconi, Sickle Cell and AML / MDS: N = ~40 • Positive, long-term data supporting use of Briquilimab for conditioning in HSCT • Results show successful donor chimerism and reconstitution of hematopoieti
Slide 19: Multiple Potential FDA Filing Strategies
19 Multiple Potential FDA Filing Strategies: • SCID re-transplant patients are ultra orphan, high unmet need population • Focused on data with Briquilimab in 11 SCID re-transplant T-B- patients • Immune reconstitution (chimerism, naïve T-cells) • Function immunity (reduction of IVIG, infections, res
Slide 20: Briquilimab: Rapid and Deep Control of Chronic Spontaneous Urticaria
20 Briquilimab: Rapid and Deep Control of Chronic Spontaneous Urticaria • Direct blockade of SCF binding site • High affinity c-Kit (Kd <5pM) and potency (IC50 70pM) Potency • Rapid Tmax and high Cmax • Over 50% Complete Responses (CRs) and >25pt UAS7 reduction by week 4 in multiple cohorts Speed •
Slide 21: KP-701 Potentially Best-in-Class Anti-CD79BxCD32B
KP-701 Potentially Best-in-Class Anti-CD79BxCD32B
Slide 22: KP-701: potential best-in-class B-cell control
22 KP-701 (CD79BxCD32B): potential best-in-class B-cell control New Emphasis Beyond Conventional B-Cell Depletion MOAs • Human genetics supports B-cell control • Prior proof-of-concept with weaker molecules & similar Fc constructs (e.g., PRV3279, Obexelimab) • Recent positive Obexelimab Phase 2 & Ph
Slide 23: Dual Engagement of CD79BxCD32B to Drive Central Tolerance
23 Source: O'Neil et al. 2011. Monophosphorylation of CD79a and CD79b ITAM motifs initiates a SHIP-1 phosphatase-mediated inhibitory signaling cascade required for B-cell anergy Mimics Endogenous Antigen-Antibody Complex for Inhibition of B Cells Key Points of Differentiation • Unique B cell checkpo
Slide 24: KP-701: Potent Effects on B-cell Proliferation & Phagocytosis
24 Source: Internal data, Xencor and Macrogenics publications *Head-to-Head Study Superior potency observed compared to Obexilimiab, PRV3279 and Rituximab KP-701: Potent Effects on B-cell Proliferation & Phagocytosis vs. Existing Programs KP-701 Control IgG CD27 CD38 7.6 % 22.0 % Cell only 17.2 % (%
Slide 25: KP-701: Unique Reductions in B Cells & Immunoglobulins in NHPs
25 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% -17 -9 1 8 15 22 28 Normalized B cell Counts (% Baseline) Days Reduction of CD3-CD20+ in Peripheral Blood 40% 50% 60% 70% 80% 90% 100% 110% Day -6 6W 13W 26W Normalized IgG (% Baseline) Rx= Q1W for 26 Wks IgG 40% 50% 60% 70% 80% 90% 100% 110% Day -
Slide 26: Streamlined Phase 1a/b Strategy
26 Streamlined Phase 1a/b Strategy Intended to Deliver Rapid Proof-of-Concept Phase 1a - SAD Phase 1b - MAD Phase 1a: • Assess the safety, tolerability, and PK of KP-701 in patients with HVs and autoimmune disease • B cell and serum Ig PD to help enable the starting dose for 1B Opportunity to Evalua
Slide 27: Broad Therapeutic Potential for Large Patient Populations
27 Rapid proof-of-concept in rheumatology with potential expansion into other therapeutic areas Rheumatology • Rheumatoid Arthritis • Lupus (SLE) • Primary Sjögren's Syndrome • Inflammatory Myositis Dermatology • Immune Thrombocytopenia (ITP) • Autoimmune Hemolytic Anemia (AIHA) • Inflammatory Myosi
Slide 28: Summary
Summary
Slide 29: Summary: Combined Company Highlights
29 • $14B+ addressable market across complement-mediated disorders1 • Phase 2/3 ready in renal and hematology indications • Innovative, bifunctional biologic targeting both alternative & terminal pathways • Preclinical data demonstrated potential superiority vs. single pathway therapies (C5, Factor
Slide 30: Anticipated Clinical Catalysts 2026E-2028E
30 2028E 2027E 2026E Q1 – Potential Phase 3 initiation (PNH) Q2 – Phase 2, Stage 1 updated data Q2 - Phase 2, Stage 2 interim data (rare renal) 1H – EOP2 meeting (PNH) Q4 – New indication interim data Q4 – Phase 2, Stage 1 interim data (rare renal) Q4 – New indication Phase 2 plans KP-104 EOY – Pote
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