Barinthus Biotherapeutics (BRNS) Corporate presentation summary

Strategic transaction and company overview

• Announced all-stock combination with Clywedog Therapeutics, forming a new NASDAQ-listed entity focused on metabolic and autoimmune diseases, with closing expected mid-2026.

• Combined company will be named Clywedog Therapeutics, Inc., led by a joint management team and board, with estimated cash runway through 2027.

• Transaction includes a potential self-tender offer for up to $27 million in shares, funded by existing cash.

• Additional investments from OrbiMed, Torrey Pines, and new investors will support the combined entity.

• No debt or outstanding warrants; cash position of $67.2 million as of March 31, 2026.

Pipeline and clinical development

• Diversified pipeline includes three clinical assets: CLY-101 (menin inhibitor for T1D/T2D), CLY-201 (TYK2 inhibitor for T1D), and VTP-1000 (immunotherapy for celiac disease).

• VTP-1000 is in Phase 1 trials for celiac disease, with single ascending dose (SAD) completed and multiple ascending dose (MAD) ongoing; data expected in H2 2026.

• CLY-101 is in Phase 1b for T2D, and CLY-201 completed Phase 1 in healthy volunteers.

• Four key clinical milestones anticipated, including proof-of-concept in multiple indications.

Technology platform and scientific approach

• SNAP-TI platform enables antigen-specific immune tolerance by co-delivering disease antigens and an mTOR inhibitor via self-assembling nanoparticles.

• Designed for broad antigen coverage, patient-friendly administration (IM/SC), and improved Treg/Teff ratio.

• Preclinical data show SNAP-TI increases Treg:Teff ratio, reverses disease in mouse models, and provides immune memory.

• VTP-1000 targets celiac disease by inducing tolerance to gluten, reducing effector T cells, and increasing regulatory T cells.