Climb Bio Conference Call Summary Company Overview - Climb Bio (NasdaqGM:CLYM) is a newly relaunched company focusing on developing monoclonal antibodies for various indications, particularly in the B cell space [2][3] Core Insights - Climb Bio has two main programs: - BUDO, a B cell depleting CD19 monoclonal antibody - CLIMB-one 116, an April targeted monoclonal antibody [3] - The company sees significant opportunities in addressing unmet needs in B cell mediated diseases, particularly with CD19 as a target [3][5] - Monoclonal antibodies can be manufactured at scale and delivered safely in community healthcare settings, which is a key advantage [5][6] Market Dynamics - There is a growing interest in CD19 as a target for B cell diseases, with a belief that monoclonal antibodies have not been fully exploited in this area [4][5] - The company emphasizes that the market is not a zero-sum game; multiple modalities can coexist and serve different patient needs [11][12] - The historical focus on CD20 over CD19 in oncology has led to a delayed recognition of CD19's potential in immunology [14][19] Development Strategy - Climb Bio is pursuing three strategic buckets for indications: 1. IgG4 mediated diseases (e.g., primary membranous nephropathy) 2. Single organ orphan diseases (e.g., NMOSD, ITP) 3. Complex systemic disorders (e.g., systemic lupus erythematosus) [26][28] - The company is actively enrolling in multiple clinical studies, with data expected in 2026 for subcutaneous formulations and later this year for ITP and SLE studies [30][31] Dosing and Efficacy - The company is focused on understanding B cell biology to optimize dosing strategies, emphasizing the importance of depleting both peripheral and tissue-resident B cells [33][36] - There is a commitment to ensuring that dosing does not prematurely select suboptimal doses, which could impact long-term efficacy [35][36] Pipeline Expansion - Climb Bio is adding CLIMB-one 116 to its pipeline, targeting April, which is seen as a complementary asset to their existing CD19 programs [38][39] - The company believes that differentiation in the April space is crucial, particularly in IgA nephropathy, and is excited about the potential of their unique sweeper technology [42][43] Financial Outlook - Climb Bio's current cash runway extends through 2027, allowing for the advancement of all clinical studies and the CLIMB-one 116 program [45] Additional Insights - The company is focused on delivering value for both patients and shareholders, emphasizing the importance of addressing unmet needs in drug development [12][13] - The upcoming R&D day is anticipated to unveil more data and insights into their programs [41]

Strategic Overview and Pipeline - Innate Pharma is focusing on strong R&D execution in 2024/2025 with key assets like IPH6501, IPH4502, and Lacutamab[12] - The company has a robust pipeline of innovative assets, including NK-cell engagers, antibody-drug conjugates (ADCs), and monoclonal antibodies, across various stages of development[20] - Lacutamab has positive Phase 2 data and received FDA Breakthrough Therapy Designation, with partnership discussions underway[13, 19] - IPH4502 (Nectin-4) IND was cleared, and Phase 1 First Patient In (FPI) is expected in January 2025[13, 17] ANKET® & ADC Programs - Innate Pharma is developing multiple ANKET® programs targeting hematological malignancies and solid tumors, including SAR'579/IPH6101 (CD123), SAR'514/IPH6401 (BCMA), and IPH6501 (CD20-IL2v)[26, 27] - IPH4502 is a novel Nectin-4 ADC with a DAR of 8, designed for improved therapeutic index and efficacy in Nectin-4 expressing solid tumors[30, 33] Financial Highlights - The company reported revenue/other income from continuing operations of €20.1 million in 2024, including €12.6 million from licensing and collaborations and €7.5 million from government funding for research expenditures[58] - Operating expenses from continuing operations were €71.7 million, with 73% related to R&D[58] - Cash, cash equivalents, and financial assets totaled €91.1 million as of December 31, 2024, providing a runway to mid-2026[59] Upcoming Catalysts - Upcoming catalysts include Phase 1 safety and preliminary efficacy data for IPH6501 and IPH4502, as well as partnering discussions and Phase 3 plans for Lacutamab[62]