MBX Biosciences (MBX) Jefferies London Healthcare Conference 2024 summary

Company overview and platform technology

• Clinical-stage biopharma focused on peptide drug design, leveraging the Precision Endocrine Peptide (PEP) platform for optimized, long-acting therapeutics.

• Raised $400 million to date, with $277.1 million in cash as of September, providing runway through mid-2027.

• Leadership team has deep experience in endocrine therapeutics and strategic collaborations with major pharma.

Pipeline and clinical programs

• Lead program MBX 2109 is a once-weekly PTH pro-drug for hypoparathyroidism, in phase II with enrollment completion expected Q1 2025 and top-line results in Q3 2025.

• MBX 1416, a long-acting GLP-1 antagonist for post-bariatric hypoglycemia, has completed phase I patient visits; top-line results expected early January 2025.

• Obesity portfolio includes MBX 4291, a GLP-1 GIP coagonist pro-drug targeting once-monthly dosing, with IND submission planned for Q2 2025.

Differentiation and competitive positioning

• PEP platform enables flat PK profiles and less frequent dosing, aiming to improve efficacy, safety, and patient adherence.

• MBX 2109 offers potential advantages over daily PTH therapies and oral competitors by reducing pill burden and providing continuous infusion-like exposure.

• MBX 4291 shows a flatter PK profile than tirzepatide in preclinical models, supporting potential for reduced GI side effects and improved weight loss.