Jade Biosciences (JBIO) Corporate presentation summary

Strategic focus and financial position

• Advancing therapies for autoimmune diseases with a focus on best-in-class product profiles and patient-friendly, infrequent dosing.

• $336 million in cash as of 12/31/25, providing runway into the first half of 2028.

• Pipeline includes JADE101 (anti-APRIL), JADE201 (anti-BAFF-R), and JADE301 (undisclosed), with exclusive licenses from Paragon Therapeutics for the first two.

• Additional programs target high-value autoimmune indications with significant market opportunities.

JADE101: Anti-APRIL mAb for IgAN

• Designed for high potency, extended half-life, and minimal injection burden (≤6 injections/year).

• Targets a $20B+ U.S. market for IgA nephropathy (IgAN), addressing unmet needs for long-term, disease-modifying therapy.

• Demonstrates superior APRIL binding affinity (0.046 pM) compared to competitors, with potential for best-in-class efficacy.

• Avoids high molecular weight complex formation, reducing immunogenicity and improving pharmacokinetics.

• Phase 1 healthy volunteer trial ongoing; interim biomarker-rich data expected in 1H 2026 to inform dose selection.

Clinical and market rationale for anti-APRIL therapy

• Updated KDIGO guidelines position anti-APRIL as foundational therapy for IgAN, expanding the treatable patient population.

• Selective APRIL inhibition shows greater proteinuria reduction and clinical remission rates than dual APRIL/BAFF approaches.

• Deeper APRIL suppression correlates with superior efficacy and remission rates, with a favorable safety profile.

• No clinical evidence that BAFF inhibition adds efficacy beyond APRIL alone in IgAN.

• Chronic BAFF inhibition leads to significant B cell depletion, which is unnecessary for IgAN given equivalent efficacy from anti-APRILs.