Slide 1: R&D Spotlight: CLYM116 Initial Phase 1 Results
R&D Spotlight: CLYM116 Initial Phase 1 Results September 3, 2026 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains “forward-looking statements”, including without limitation statements regarding: future expectations, plans and prospects for Climb Bio; expectations regarding the therapeutic benefits, clinical potential and clinical development of CLYM116; the
Slide 3: Webcast Agenda
Webcast Agenda CLYM116: Initial Phase 1 Data in Healthy Volunteers Edgar Charles, M.D. Chief Medical Officer, Climb Bio Closing Remarks and Q&A session including Climb Bio management team CLYM116 Opportunity Aoife Brennan, M.B., Ch.B. President and CEO, Climb Bio
Slide 4: CLYM116 Topline Phase 1 Data Exceeded Target; Phase 2 Underway
CLYM116 Topline Phase 1 Data Exceeded Target; Phase 2 Underway Best-in-class profile, with long half-life, potent and prolonged PD effects, and Q12W dosing APRIL = a proliferation-inducing ligand, Gd = galactose deficient, IgAN = IgA nephropathy, PD = pharmacodynamics, PK = pharmacokinetics, SC = su
Slide 5: IgAN: A Lifelong Disease Requiring Durable Disease Modification
Early launch uptake demonstrates physician demand Recently approved products priced at ~$390K-$425K annually KDIGO 2025 supports earlier diagnosis and intervention Lower proteinuria targets expand use of disease-modifying therapy IgAN: A Lifelong Disease Requiring Durable Disease Modification Earlie
Slide 6: APRIL is a Validated Target in IgAN with Further Potential to Unlock
APPROVED BLA FILED @ APPROVED APRIL is a Validated Target in IgAN with Further Potential to Unlock Phase 3 results and recent approvals establish the APRIL class and create an opportunity for differentiated next-generation therapies *Phase 3 eGFR data not yet available. APRIL = a proliferation-induc
Slide 7: CLYM116 "Sweeper" Designed for a Differentiated Clinical Profile
CLYM116 “Sweeper” Designed for a Differentiated Clinical Profile Anti-APRIL mAb, combining the utility of a sweeper with Fc mutations that increase serum half-life to deliver improved clinical activity APRIL = a proliferation-inducing ligand, mAb = monoclonal antibody Deeper target suppression Repea
Slide 8: Phase 1 Data Support Best-in-Class Potential of CLYM116
Phase 1 Data Support Best-in-Class Potential of CLYM116 Data from healthy volunteer study demonstrate differentiation across key clinical attributes APRIL = a proliferation-inducing ligand, DLTs = dose limiting toxicities, Gd = galactose deficient, SAEs = serious adverse events, SC = subcutaneous Pr
Slide 9: CLYM116
CLYM116 @CLIMBBIO
Slide 10: APRIL: A Central Driver of IgAN Pathogenesis
APRIL: A Central Driver of IgAN Pathogenesis In IgAN, APRIL inhibition has been demonstrated to prevent the production of pathogenic IgA and the consequent immune complex formation that leads to kidney damage APRIL = a proliferation-inducing ligand, IgAN = IgA nephropathy Adapted from Mathur J Clin
Slide 11: Defining a Best-in-Class Q12W anti-APRIL Profile
Defining a Best-in-Class Q12W anti-APRIL Profile Near-complete APRIL suppression throughout the dosing interval to drive optimal PD effects APRIL = a proliferation-inducing ligand, PD = pharmacodynamic Interplay Between APRIL and IgA Illustrative Suppression Onset lag between APRIL suppression and I
Slide 12: CLYM116 Australia Phase 1 Design & Objectives
CLYM116 Australia Phase 1 Design & Objectives Randomized, placebo-controlled ascending-dose study in healthy volunteers APRIL = a proliferation-inducing ligand, Gd = galactose deficient, RP2D = recommended phase 2 dose, SAD = single ascending dose, MAD = multiple ascending dose NCT07248865; Subjects
Slide 13: Demographics and Baseline Characteristics
25 mg 80 mg 160 mg 320 mg 480 mg 320 mg MAD Pooled CLYM116 Pooled Placebo N 6 6 5 6 6 6 35 11 Age, years 30.3 (7.4) 33.2 (14.3) 34.6 (10.1) 30.3 (4.6) 43.7 (14.6) 41.2 (15.8) 35.6 (12.2) 35.6 (11.8) Female (n, %) 1 (17%) 5 (83%) 4 (80%) 3 (50%) 3 (50%) 4 (67%) 20 (57%) 8 (73%) Race (n, %) White 2 (3
Slide 14: CLYM116 Demonstrated Favorable Safety and Tolerability in HV
25 mg 80 mg 160 mg 320 mg 480 mg 320 mg MAD Pooled CLYM116 Pooled Placebo N 6 6 5 6 6 6 35 11 ≥ 1 TEAE, n (%) 4 (67%) 5 (83%) 3 (60%) 3 (50%) 5 (83%) 5 (83%) 25 (71%) 5 (45%) ≥ 1 TRAE, n (%) 0 1 (17%) 3 (60%) 1 (17%) 3 (50%) 0 8 (23%) N/A ≥ 1 severe TEAE, n 0 0 0 0 0 0 0 0 Discontinued due to AE, n
Slide 15: CLYM116 Exposure Profile Supports Long Dosing Interval
CLYM116 Exposure Profile Supports Long Dosing Interval Data as of 26 August 2026; 12-week data available for all subjects in the 25, 80, 160, and 320 mg SAD cohorts. Follow-up ongoing in the 480 mg SAD and 320 mg MAD cohorts (data incomplete for weeks 5-8). 320 mg MAD cohort doses administered on Da
Slide 16: CLYM116 Achieved Rapid and Sustained Free APRIL Suppression
CLYM116 Achieved Rapid and Sustained Free APRIL Suppression Near-complete APRIL suppression after a single 320 mg SC dose, demonstrating robust target engagement and prolonged pharmacodynamic effect Data as of 26 August 2026; 12-week data available for all subjects in the 25, 80, 160, and 320 mg SAD
Slide 17: CLYM116 Demonstrated PK/PD Advantages vs. First-Gen Anti-APRIL
Above reflects cross-trial comparisons of observed single-dose healthy-volunteer data and not data from head-to-head studies; cross-trial comparisons are limited by differences in study design, populations, assays, regimens, and follow-up. APRIL = a proliferation-inducing ligand, CFB = change from b
Slide 18: CLYM116 Achieved Deep, Durable IgA, Gd-IgA1, and IgM Reductions
~60-75% suppression of IgA, Gd-IgA1, and IgM through 12 weeks with a single 320 mg dose Data as of 26 August 2026; 12-week data available for all subjects in the 25, 80, 160, and 320 mg SAD cohorts. Follow-up ongoing in the 480 mg SAD and 320 mg MAD cohorts (data incomplete for Gd-IgA1 week 8). 320
Slide 19: CLYM116 Demonstrated a Robust Q12W PD Profile
CLYM116 Demonstrated a Robust Q12W PD Profile Prolonged APRIL suppression translates into sustained IgA, Gd-IgA1, and IgM reductions through 12 weeks, differentiating CLYM116 from once-monthly first-gen approaches APRIL = a proliferation-inducing ligand, Gd = galactose deficient, PD = pharmacodynami
Slide 20: CLYM116 PD Effects Followed Consistent Trends Across Cohorts
CLYM116 PD Effects Followed Consistent Trends Across Cohorts Data as of 26 August 2026; 12-week data available for all subjects in the 25, 80, 160, and 320 mg SAD cohorts. Follow-up ongoing in the 480 mg SAD and 320 mg MAD cohorts (data incomplete for Gd-IgA1 week 8). Free APRIL (median, IQR); IgA,
Slide 21: CLYM116 PK/PD Modeling Supports Q12W Dosing
CLYM116 PK/PD Modeling Supports Q12W Dosing 400 mg Q12W regimen predicted to maintain exposure above APRIL EC75 throughout the dosing interval and produce near-complete APRIL suppression out to 48 weeks Data as of 26 August 2026. Simulated serum concentrations are derived from a population pharmacok
Slide 22: CLYM116 NAVIGATE-2 Phase 2 Study in IgAN
Initial data anticipated in H1 2027; designed to confirm integrated Phase 1 PK/PD modeling and support advancing Q12W regimen into Phase 3 CLYM116 NAVIGATE-2 Phase 2 Study in IgAN Ongoing Population: Adults with biopsy-proven IgAN 24-hour UPCR ≥ 0.5 g/g or 24-hour urine protein ≥ 0.75 g eGFR ≥ 30 mL
Slide 23: CLYM116: Compelling Phase 1 Data, Clear Path Ahead
CLYM116: Compelling Phase 1 Data, Clear Path Ahead CLYM116 offers the potential for durable disease control with convenient Q12W dosing; NAVIGATE-2 Phase 2 ongoing and device development advancing HV = healthy volunteer, PD = pharmacodynamics, PFS = pre-filled syringe Pivotal Study & Commercial Devi
Slide 24: Closing Remarks
Closing Remarks @ CLIMBBIO
Slide 25: CLYM116: Positioned to Accelerate
CLYM116: Positioned to Accelerate Depth, durability, and convenience in a single molecule, with multiple upcoming readouts APRIL = a proliferation-inducing ligand, Gd = galactose deficient, HV = healthy volunteer, IgAN = IgA nephropathy 2026 CLYM116 Compelling Phase 1 Results Initial Phase 2 IgAN da
Slide 26: Q&A Session
Q&A Session Aoife Brennan, M.B., Ch.B. President and CEO, Climb Bio Edgar Charles, M.D. Chief Medical Officer, Climb Bio Perrin Wilson, Ph.D. Chief Business Officer, Climb Bio Susan Altschuller, Ph.D., MBA Chief Financial Officer, Climb Bio