iBio (IBIO) Guggenheim Securities 2nd Annual Healthcare Innovation Conference summary

Company evolution and platform development

• Founded in 2008–2009 to develop plant-based vaccines for the U.S. Army, pivoted to CDMO in 2015, and acquired Rubrik Therapeutics’ platform in 2022 to focus on hard-to-drug antibodies.

• Leadership transition in January 2023, with a focus on validating the platform through key partnerships and asset sales.

• Secured research agreements with Eli Lilly, sold a PD-1 agonist to Otsuka, and entered an obesity collaboration with AstroBio.

Obesity pipeline and strategic focus

• Portfolio targets multiple obesity mechanisms: Amylin (food intake), Activin E (fat-specific weight loss), and myostatin (muscle-sparing).

• Focused on next-generation drugs to address unmet needs beyond GLP-1s, including alternatives and add-on therapies.

• Pipeline diversification de-risks development and addresses payer and patient adoption uncertainties.

Asset development stages and milestones

• Activin E antibody in IND-enabling phase, with promising PK data and monkey study readout expected early next year; IND filing in Australia targeted for end of 2026, first patient dose in early 2027.

• Myostatin program nearing completion of tox studies, with Australian filing planned for first half of next year.

• Amylin program entering rodent studies, with non-human primate studies planned and rapid CMC progression if efficacy is observed.