Jade Biosciences (JBIO) investor relations material

Company progress and strategy

• Formed in June 2024, the company rapidly advanced three assets in autoimmune diseases, leveraging Paragon's expertise in protein engineering and half-life extension.

• Lead program JADE101 targets IgA nephropathy (IgAN) with a best-in-class anti-APRIL antibody, aiming for frontline therapy due to disease-modifying potential and eGFR stabilization.

• JADE101 is in phase I with data expected next quarter; JADE201 (anti-BAFF-R) enters clinic in Q2 2025, with a readout in 2027; a third program remains undisclosed.

• Strong financial position with $336 million in cash, supporting milestones into H1 2028.

Scientific and clinical differentiation

• JADE101 is a fully human anti-APRIL antibody with femtomolar affinity, 750–2,000 times higher than competitors, enabling rapid and sustained APRIL neutralization and deep IgA reductions.

• Incorporates YTE half-life extension, achieving a 27-day half-life in primates, projecting at least Q8-week dosing in humans—half as frequent as current therapies.

• Designed to minimize immunogenicity and avoid large immune complex formation, addressing limitations seen with first-generation agents.

• Selective APRIL inhibition offers targeted disease modification in IgAN without unnecessary immunosuppression from BAFF inhibition.

Market landscape and commercial outlook

• IgAN market estimated at $20 billion+ in the U.S., with anti-APRIL class expected to dominate due to expanded labels and high pricing ($390,000/year per patient).

• Extended dosing intervals (Q8 weeks) are a major driver for clinician and patient preference, with market research showing significant share gains at this interval.

• Convenience and efficacy are key decision factors for frontline adoption, especially in young, asymptomatic patients.