Climb Bio, Inc. · NASDAQ:CLYM
Climb Bio — Investor Presentation (September 2026)
57 slides from Climb Bio's investor presentation, September 2026
Slide 1: Corporate Presentation
Corporate Presentation SEPTEMBER 2026 © 2026 Climb Bio 1
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 budoprutug a
Slide 3: Our Mission
OUR MISSION Deliver high impact, disease-modifying medicines for individuals living with immune-mediated diseases Scaling New Heights in the Development of Transformative Immune Medicines © 2026 Climb Bio 3
Slide 4: Delivering Clinical Results and Advancing Development
Delivering Clinical Results and Advancing Development Corporate Highlights Developing differentiated, monoclonal antibody (mAb) therapeutics for immune-mediated diseases, including those affecting kidney health, with expansive commercial opportunities Leveraging clinically validated B cell targets,
Slide 5: Climb Bio: Data-Rich 2026
Climb Bio: Data-Rich 2026 Continuing the ascent with initial readouts anticipated from all ongoing trials CLYM116 2026 Additional Ph1 HV data – Q4 ✓ CLYM116 Budoprutug pMN FPI Ph2 – Q3 ✓ ✓ Initial Ph2 data – Q4 Budoprutug SC Budoprutug ITP B cell and PLA2R, low dose cohort Initial Ph1 HV data – May
Slide 6: Pipeline of Highly Differentiated mAbs
Pipeline of Highly Differentiated mAbs Anticipating initial readouts from all ongoing trials in 2026 ANTICIPAT ED INDICATION(S) PRECLINICAL PHASE 1 PHASE 2 PHASE 3 CLIM B RIGHTS M ILESTON E S Primary Membranous Initial Ph2 data Q4 ‘26 Nephropathy Budoprutug IV Immune Additional Ph1b data Q4 ‘26 Worl
Slide 7: Pursuing Expansive Market Opportunities
Pursuing Expansive Market Opportunities Addressing the needs of patients living with B cell-mediated diseases IgG4 related disease Budoprutug, Anti-CD19 mAb ANCA-AAV Idiopathic inflammatory myopathies pMN ITP SLE TODAY ~75k ~85k ~240k TOMORROW Myasthenia gravis Lupus nephritis NMOSD Opportunity: Opp
Slide 8: Climb Bio Team Poised to Deliver for Patients
Climb Bio Team Poised to Deliver for Patients BOARD OF DIRECTORS Douglas E. Williams, PhD Independent, Chairman Aoife Brennan, MB, ChB Aoife Brennan, MB, ChB Perrin Wilson, PhD Susan Altschuller, PhD, MBA Edgar Charles, MD Bo Cumbo President and CEO CBO CFO CMO CEO, Solid Biosciences Kim Drapkin, CP
Slide 9: CLYM116
CLYM116 Anti-APRIL mAb © 2026 Climb Bio 9
Slide 10: CLYM116: A Potential Best-in-Class anti-APRIL mAb
CLYM116: A Potential Best-in-Class anti-APRIL mAb Initial data from NAVIGATE-2 Phase 2 trial expected in 1H 2027 Differentiated Compelling Phase 1 NAVIGATE-2 Ph2 MOA HV Data Trial Underway • Sweeper mechanism facilitates • CLYM116 Phase 1 data demonstrates • NAVIGATE-2 Phase 2 trial in IgAN recyclin
Slide 11: IgA Nephropathy (IgAN)
IgA Nephropathy (IgAN) • Autoantibody mediated disease caused by deposition of immune complexes in SIGNIFICANT OPPORTUNITY Progressive, the glomeruli, which leads to proteinuria, kidney injury, and loss of kidney function lifelong renal • Diagnosed early in life (typically, ages 15-40)1; patients at
Slide 12: Magnitude of Proteinuria Predicts Development of Kidney Failure
Magnitude of Proteinuria Predicts Development of Kidney Failure Proteinuria improvement correlates with long-term kidney function stabilization Proteinuria is associated with eGFR decline and kidney failure/death (UK RaDaR study) eGFR = estimated glomerular filtration rate, IgAN = IgA nephropathy, R
Slide 13: KDIGO 2025 Guideline Highlights Role for IgA Reduction in IgAN
KDIGO 2025 Guideline Highlights Role for IgA Reduction in IgAN KDIGO updates reinforce need for disease modifying treatments that halt the production of pathogenic IgA, positioning anti-APRIL therapies as a core pillar in the treatment of IgAN Initiation of treatment with therapies that both prevent
Slide 14: APRIL is a Validated Target in IgAN with Further Potential to Unlock
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 First Generation: Where We Are Now Next Generation: Where We’re Headed APPROVED 51.2% Sibeprenlim
Slide 15: CLYM116 Is The Only Known Sweeper Anti-APRIL In Development
CLYM116 Is The Only Known “Sweeper” Anti-APRIL In Development Potential best-in-class anti-APRIL mAb, designed for improved activity, less frequent dosing, and favorable safety profile KEY FEATURES HIGH AFFINITY pH-dependent binding to APRIL SWEEPER MECHANISM Facilitates recycling of CLYM116 and eli
Slide 16: CLYM116 Sweeper Designed for a Differentiated Clinical Profile
CLYM116 “Sweeper” Designed for a Differentiated Clinical Profile pH-dependent binding and FcRn recycling allow CLYM116 to release captured APRIL for degradation and re-enter circulation to bind again High affinity to pH 7.4 APRIL at pH 7.4 Enhanced clearance beyond APRIL conventional neutralization:
Slide 17: 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 EFFICACY CONVENIENCE SAFETY Robust APRIL & IgA Suppression Potential for Every 12-Week Dosing Favorable Safety Profile • >90% free APRIL suppression •
Slide 18: CLYM116 Global Phase 1 Strategy In Healthy Volunteers
CLYM116 Global Phase 1 Strategy In Healthy Volunteers Randomized, double-blind, placebo-controlled, ascending dose studies ongoing with additional data from Australia study and initial data from China study anticipated in Q4 2026 Strategy: Australia Phase 1 China Phase 1 Parallel Australia and China
Slide 19: CLYM116 Demonstrated Favorable Safety and Tolerability in HV
CLYM116 Demonstrated Favorable Safety and Tolerability in HV Generally well-tolerated, with no serious adverse events or hypogammaglobulinemia Safety 320 mg Pooled POOLED Pooled POOLED CLYM116 was generally well-tolerated in the 25 mg 80 mg 160 mg 320 mg 480 mg MAD CLYM116 CLYM 116 PlaceboO PLACEB o
Slide 20: CLYM116 Exposure Profile Supports Long Dosing Interval
CLYM116 Exposure Profile Supports Long Dosing Interval ~29-day half-life, 3x longer than sibeprenlimab, with linear clearance throughout the effective dose range Serum Concentration 100 μg/mL Pharmacokinetic Profile • Dose-proportional exposure 10 • Half-life of ~29 days, compared Concentration (mea
Slide 21: 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 Free APRIL 0 % Change from Baseline 30 APRIL Suppression 10 • >99% suppression by Day 4 with % CFB (m
Slide 22: CLYM116 Demonstrated PK/PD Advantages vs. First-Gen Anti-APRIL
CLYM116 Demonstrated PK/PD Advantages vs. First-Gen Anti-APRIL Longer half-life and exposure and greater in vivo potency relative to sibeprenlimab translated to robust and prolonged suppression of APRIL through 12 weeks CLYM116 Sibeprenlimab2 320 mg SC (single dose) 400 mg SC (single dose) serum con
Slide 23: CLYM116 Achieved Deep, Durable IgA, Gd-IgA1, and IgM Reductions
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 IgA Gd-IgA1 IgM % Change from Baseline % Change from Baseline % Change from Baseline 20 20 0 10 10 10 0 0 0 -10 -10 10 % CFB (mean, SEM) % CFB (mean
Slide 24: 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 Simulated Serum Concentration Over Time Simulated Free APRIL Over Time 800 mg loading dose + 400
Slide 25: CLYM116 NAVIGATE-2 Phase 2 Study in IgAN Ongoing
CLYM116 NAVIGATE-2 Phase 2 Study in IgAN Ongoing Initial data anticipated in H1 2027; designed to confirm integrated Phase 1 PK/PD modeling and support advancing Q12W regimen into Phase 3 Population: NAVIGATE-2 Phase 2 Climb Bio / Mabworks collaborative, multi-center study being conducted in China •
Slide 26: 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 NAVIGATE-2 Pivotal Study & Commercial Phase 1 HV Phase 2 Ongoing Device Readiness Favorable safety and
Slide 27: Budoprutug
Budoprutug Anti-CD19 © 2026 Climb Bio 27
Slide 28: Budoprutug: A Differentiated Anti-CD19 Approach
Budoprutug: A Differentiated Anti-CD19 Approach Durable B cell depletion, long dosing interval, with potential for IV and SC formulations Potential Differentiating Benefits Clear Opportunity • Limited competition in CD19 1 2 3 mAb space Rapid, deep and mAb modality may confer distinct advantages Lon
Slide 29: CD19 is Emerging as a Preferred Pan-B-Cell Target
CD19 is Emerging as a Preferred Pan-B-Cell Target Broad B-cell expression profile with potential for achieving deeper and more durable B-cell depletion while preserving protective antibody responses mediated by long-lived plasma cells CD19 plays a mechanistic role across all stages of B-cell develop
Slide 30: Budoprutug is a Highly Potent, Fc-Enhanced Anti-CD19 mAb
Budoprutug is a Highly Potent, Fc-Enhanced Anti-CD19 mAb Designed for optimal biological activity, with potential for both IV and subcutaneous administration KEY FEATURES STRONG TARGET BINDING 18 pM binding affinity to CD19 SUBCUTANEOUS counters low antigen density DOSING POTENTIAL ≥175 mg/mL High c
Slide 31: Developing Budoprutug Across Multiple Diseases
Developing Budoprutug Across Multiple Diseases Pursuing development in lead indications with high unmet need and clear B-cell driven pathology Primary Membranous Nephropathy (pMN) Immune Thrombocytopenia (ITP) Systemic Lupus Erythematosus (SLE) Progressive renal disease characterized by proteinuria,
Slide 32: Primary Membranous Nephropathy
Primary Membranous Nephropathy Seferiana, living with pMN © 2026 Climb Bio 32
Slide 33: Primary Membranous Nephropathy (pMN)
Primary Membranous Nephropathy (pMN) • Autoantibody mediated disease characterized by proteinuria, SIGNIFICANT OPPORTUNITY Progressive nephrotic syndrome and progressive loss of renal function renal disease • Untreated, ~30% progress to end-stage renal disease within ~75,000 patients 10 years and an
Slide 34: Large Addressable Patient Population in pMN
Large Addressable Patient Population in pMN Majority of patients who do not achieve spontaneous remission will require treatment to prevent risk of progressive loss of kidney function pMN Adult Diagnosed Prevalence: KDIGO Recommendation4 ~75,000 1,2 Immunosuppressive therapy should be considered in
Slide 35: Completed Phase 1b Study Established Proof-of-Concept in pMN
Completed Phase 1b Study Established Proof-of-Concept in pMN Budoprutug evaluated in an open-label, dose escalation study in adult patients with pMN 200 mg N=4 N=2 Patients had moderate to ≥1 dose 4 doses severe disease at baseline • B cells: 145 ± 116 cells/µL N=8 Primary enrolled analysis set • PL
Slide 36: Clinical Proof-of-Concept Demonstrated in Pilot Study in pMN
Clinical Proof-of-Concept Demonstrated in Pilot Study in pMN Budoprutug administration resulted in durable B-cell depletion, serologic remission, and clinical remission (as measured by proteinuria) 350 B Cells1 90 anti-PLA2R1 7 Proteinuria1 Anti-PLA2R Autoantibodies (RU/mL) 80 300 6 CD20+ cell count
Slide 37: Safety
8 patients received at least one infusion of budoprutug and were included in the safety analysis population in the completed Phase 1b pMN trial There were no deaths on study Safety There were 3 SAEs, none considered to be related Budoprutug was generally to budoprutug by the investigator well tolera
Slide 38: Budoprutug Has a Highly Compelling Profile in pMN
Budoprutug Has a Highly Compelling Profile in pMN High serologic remission (anti-PLA2R negativity) and complete clinical remission rates support a potentially strong and differentiated clinical profile Budoprutug Rituximab Obinutuzimab Povetacicept Felzartamab (based on completed pMN Ph1b1) (MENTOR
Slide 39: PrisMN: Budoprutug Phase 2 pMN Study Enrolling
PrisMN: Budoprutug Phase 2 pMN Study Enrolling Biomarker endpoint provides potential to rapidly identify dose to carry forward into Phase 3; initial B cell and PLA2R data from low dose cohort anticipated in Q4 2026 Open-label, dose ranging study Population Primary Objective Secondary Objectives • 18
Slide 40: Immune Thrombocytopenia
Immune Thrombocytopenia John, living with ITP © 2026 Climb Bio 40
Slide 41: Immune Thrombocytopenia (ITP)
Immune Thrombocytopenia (ITP) • Autoantibody mediated disease characterized by the SIGNIFICANT OPPORTUNITY Chronic bleeding destruction of platelets disorder • Results in bruising, bleeding episodes, hemorrhage and fatigue ~85,000 patients in the US alone • Guidelines recommend corticosteroids as 1L
Slide 42: Significant Opportunity for a Disease Modifying Approach in ITP
Significant Opportunity for a Disease Modifying Approach in ITP Chronic ITP patients often cycle through multiple therapies to maintain platelet control Diagnosed Adults with Primary ITP 1,2 ~85,000 (23.6 per 100 K) 40-50% ~80-85% Require Initial Therapy3,4 of patients require chronic therapy ~70,00
Slide 43: Strong Rationale for CD19 Approach in ITP
Strong Rationale for CD19 Approach in ITP Potent anti-CD19 approach offers the promise of sustained elimination of pathogenic B cells CD19+/CD20- plasma cells expand within B cell niches post anti-CD20 treatment1 • B cell targeting via CD20 (rituximab) has 74.9% demonstrated benefit in ITP, however
Slide 44: Budoprutug Phase 1b ITP Trial Ongoing
Budoprutug Phase 1b ITP Trial Ongoing Designed to define dose and regimen, and establish depth and duration of platelet response and B cell depletion Open label, dose escalation = Budoprutug IV (2 doses, 14 days apart at Week 0 and Week 24) and expansion study TREATMENT PERIOD LTFU Population • N ~2
Slide 45: ITP Phase 1b: Patient Demographics and Initial Safety Data
ITP Phase 1b: Patient Demographics and Initial Safety Data Budoprutug was generally well tolerated in the 250 mg and 500 mg cohorts, which enrolled heavily pretreated patients with persistent or chronic ITP 250 mg (N=6) 500 mg (N=9) Age (median, range) 42 (22-75) 41 (18-58) Safety Gender (M/F) 2/4 5
Slide 46: Clinical Proof-of-Concept Demonstrated in ITP Phase 1b Cohort 1
Clinical Proof-of-Concept Demonstrated in ITP Phase 1b Cohort 1 Initial data from ongoing Phase 1b demonstrated durable B-cell depletion and platelet response following administration of budoprutug (low dose, 250 mg) Platelet Response Assessments B-Cell Depletion At Week 24, mean (SEM) increase in p
Slide 47: Systemic Lupus Erythematosus
Systemic Lupus Erythematosus Marisa, living with SLE © 2026 Climb Bio 47
Slide 48: Systemic Lupus Erythematosus (SLE)
Systemic Lupus Erythematosus (SLE) • Autoreactive lymphocytes and autoantibodies mistakenly attack tissues and organs throughout the body Chronic SIGNIFICANT OPPORTUNITY • Wide array of autoantibodies cause disease manifestations that can affect autoimmune virtually any organ system; subset of patie
Slide 49: Strong Rationale for Anti-CD19 mAb in SLE
Strong Rationale for Anti-CD19 mAb in SLE CD19 mAb approach could provide optimal profile of disease control, safety, and broad patient accessibility B-cell targeting has promise CD19 CAR Ts demonstrate strong efficacy Anti-BAFF mAb 8/8 SLE patients treated approved for SLE/LN1, but up to 55% of wit
Slide 50: Parallel Global and China SLE Studies Enrolling
Parallel Global and China SLE Studies Enrolling Designed to assess safety, tolerability, B-cell depletion, and kinetics of B-cell subset repopulation Global Phase 1b Study China Phase 1b/2a Study Enrolling adults with seropositive SLE; SLEDAI ≥ 8; refractory Enrolling adults with seropositive SLE; S
Slide 51: Budoprutug – Subcutaneous (SC) Formulation
Budoprutug – Subcutaneous (SC) Formulation Anti-CD19 © 2026 Climb Bio 51
Slide 52: Budoprutug SC Formulation Provides Optionality and Differentiation
Budoprutug SC Formulation Provides Optionality and Differentiation Ability to formulate as both IV and SC provides optionality in development and may be a differentiating feature of budoprutug relative to other anti-CD19 mAbs Budoprutug SC concentration and volume targets defined by benchmark immuno
Slide 53: Robust B-cell Depletion Observed with Budoprutug SC in HV
Robust B-cell Depletion Observed with Budoprutug SC in HV Budoprutug SC administration demonstrated ~80% B-cell depletion; similar magnitude and time course of depletion between SC and IV Placebo 3 mg 6 mg 6 mg Placebo 3 mg 6 mg 6 mg SC IV SC IV Budoprutug SC was well-tolerated; safety profile consi
Slide 54: Budoprutug SC: Future Direction
Budoprutug SC: Future Direction Data in NHPs and healthy volunteers support continued development of SC formulation, with plans to advance to a study in patients to confirm dose and regimen with initial data expected in 2027 Non-Human Healthy Volunteers Next Steps Primates (low dose) Evaluation of S
Slide 55: Looking ahead
Looking ahead © 2026 Climb Bio 55
Slide 56: Climb Bio: Continuing the Ascent Into 2027
Climb Bio: Continuing the Ascent Into 2027 Data anticipated from all ongoing trials across both assets 2027 $239.2M* RUNWAY 2026 CLYM116 INTO 2H 2028 Budoprutug SLE Initial Ph2 IgAN data – 1H 2027 Initial global Ph1b data – Q4 safety & biomarkers, low doses Budoprutug pMN CLYM116 Budoprutug ITP 79.8
Slide 57: Climb Bio is Well Positioned for Success
Climb Bio is Well Positioned for Success Multiple clinical readouts within cash runway Developing differentiated, monoclonal antibody (mAb) therapeutics for immune-mediated diseases, including those affecting kidney health, with expansive commercial opportunities Leveraging clinically validated B ce