Jade Biosciences, Inc. · NASDAQ:JBIO
Jade Biosciences — Investor Presentation (May 2026)
35 slides from Jade Biosciences's investor presentation, May 2026
Slide 1: Company Overview
May 2026 Company Overview NAS DAQ: JBI O
Slide 2: Disclaimers
Disclaimers F O R W A R D L O O K I N G ST A T E M E N T S Certain statements in this presentation, other than purely historical information, may constitute "forward-looking statements" within the meaning of the federal securities laws, including for purposes of the "safe harbor" provisions under th
Slide 3: About Jade Biosciences
About Jade Biosciences C O M P A N Y O V E R V IE W ▪ Jade is a clinical-stage Mission biotechnology company focused on developing best-in-class To act with urgency to bring life- therapies that address critical unmet needs in autoimmune changing, disease-modifying diseases autoimmune therapies to p
Slide 4: Advancing potentially best-in-class therapies for autoimmune diseases
Advancing potentially best-in-class therapies for C O M P A N Y O V E R V IE W autoimmune diseases Well-capitalized to deliver on key milestones with $311 million in cash as of 3/31/26; runway into 1H 2028 POTE NTIA L P ROG R AM MO A P RE C LINIC AL P HAS E 1 P HAS E 2 P HAS E 3 IND ICA TIONS Candid
Slide 5: JADE101
JADE101 A potentially best-in-class anti- APRIL mAb for IgAN 5
Slide 6: Developing a potentially best-in-class anti-APRIL mAb
Developing a potentially best-in-class anti-APRIL mAb J A D E1 0 1 Estimated $20B+ Anti-APRIL class poised branded to be frontline treatment market in the U.S. alone for IgAN Potentially best-in-class Efficient path to PoC and clinical activity and market dosing regimen HV – healthy volunteer, mAb –
Slide 7: A need for effective and convenient therapies for life-long treatment
A need for effective and convenient therapies for J A D E1 0 1 life-long treatment High lifetime risk of end stage kidney disease IgAN is a progressive autoimmune kidney disease requiring lifelong treatment, with significant need for well-tolerated, disease- modifying therapies that offer convenient
Slide 8: IgAN is a $20B+ potential market in the U.S. alone
IgAN is a $20B+ potential market in the U.S. alone J A D E1 0 1 ~169K+ IgAN patients in the U.S., with 60-75% ~1M+ global patients, significant ex-U.S. requiring treatment per international guidelines market potential Require Treatment No Additional Treatment Required U.S. E.U. Japan China 0 50,000
Slide 9: Updated KDIGO guidelines position the anti-APRIL class as the foundational therapy in IgAN
Updated KDIGO guidelines position the anti-APRIL class as J A D E1 0 1 the foundational therapy in IgAN KDIGO updates IgAN patients at risk of progressive kidney anticipated to: function loss ▪ Increase IgAN diagnosis ▪ Expand at-risk patient Drivers of Manage the IgAN- In all patients these Manage
Slide 10: JADE101: Ultra-high affinity, half-life extended mAb
JADE101: Ultra-high affinity, half-life extended mAb with J A D E1 0 1 potential for best-in-class activity and patient convenience Femtomolar APRIL Affinity + Half Life Extension Potentially best-in- Potential for ≤ 6 Avoids unnecessary class clinical activity injections per year immunosuppression
Slide 11: Reducing pathogenic IgA production by plasma cells
Reducing pathogenic IgA production by plasma cells J A D E1 0 1 A potentially disease-modifying approach for IgAN Broad B cell depletion is ineffective …while targeted plasma cell in IgAN… modulation is highly effective Neutralizing APRIL depletes Gd-IgA1, ▪ B cell depletion with rituximab (anti-CD2
Slide 12: Phase 3 IgAN data: dual APRIL/BAFF vs selective APRIL inhibition
Phase 3 IgAN data have not demonstrated additional patient J A D E1 0 1 benefit from dual APRIL/BAFF vs selective APRIL inhibition Study populations were representative of high-risk, global IgAN patients Sibeprenlimab Atacicept Povetacicept UPCR Δ from baseline (%, 9 months) UPCR Δ from baseline (%,
Slide 13: Deeper APRIL suppression drives superior clinical efficacy
Deeper APRIL suppression drives superior clinical efficacy J A D E1 0 1 Sibeprenlimab Phase 2 Data ▪ Highest proteinuria reduction and rates of clinical remission (proteinuria <0.3 g/day) for sibeprenlimab were accompanied by the Placebo Sibeprenlimab 2mg/kg Sibeprenlimab 4mg/kg Sibeprenlimab 8mg/kg
Slide 14: JADE101 potential for best-in-class clinical activity and convenience
With ultra-high affinity and extended half-life, JADE101 has J A D E1 0 1 potential to offer best-in-class clinical activity and convenience J A D E1 01 S I B E P R EN L I M A B ZI GA K I B A R T AT ACICE P T P O V ET A C I C E P T Phase 3 Dosing Currently in Phase 1 400 mg SC, Q4W 600 mg SC, Q2W 15
Slide 15: Potentially best-in-class properties of JADE101
Potentially best-in-class properties of JADE101 J A D E1 0 1 Novel IP for composition of matter into mid-2040s Novel epitope discovered through de novo campaign to Half-life extension through achieve first fully-human, validated YTE Fc modification potentially best-in-class anti- APRIL mAb ▪ Longer
Slide 16: JADE101 femtomolar affinity and slow off-rate vs other anti-APRILs
JADE101 has femtomolar affinity and a slow off-rate that is J A D E1 0 1 superior to other anti-APRILs currently in development J A D E 1 0 1 (anti-APRIL) S IB E P RE N L IM A B (anti-APRIL) APRIL affinity by SPR is highly predictive of in vivo potency to lower serum IgA in humans 000 Ataci Z IG A K
Slide 17: JADE101 avoids high molecular weight complex formation
JADE101 avoids high molecular weight complex formation J A D E1 0 1 High MW Complex Rapid ADAs High MW complex formation Clearance/TMDD A DA can occur with mAbs binding A N TI - A P RI L trimeric proteins, such as APRIL Avoiding high MW complexes A P RI L A N TI - A P RI L potentially mitigates risk
Slide 18: JADE101 exhibits a highly differentiated NHP PK/PD profile
JADE101 exhibits a highly differentiated NHP PK/PD profile J A D E1 0 1 >3X increased half-life Accompanied by deep and JADE101 has the compared to sibeprenlimab* prolonged IgA reduction potential to in NHPs extend dosing E Sibe, 0 mg/kg I 0 E Sibe, 0 mg/kg I 000 interval through Sibeprenlimab, 0 mg
Slide 19: Phase 1 JADE101 healthy volunteer trial ongoing
Phase 1 JADE101 healthy volunteer trial ongoing J A D E1 0 1 Interim, biomarker-rich clinical data expected in Q2 2026 Phase 1 Study Design Objectives Depth and Randomized, double-blind, placebo-controlled SAD study P RIM ARY duration of APRIL SC administration in healthy adult volunteers (n=32) ▪ S
Slide 20: Anticipated HV data expected to enable JADE101 dose selection
Anticipated HV data expected to enable JADE101 dose and J A D E1 0 1 dose interval selection for IgAN patients ▪ Anti-APRIL MOA provides biomarker rich-data in HVs expected to be predictive of IgA reduction and APRIL neutralization in HVs clinical efficacy 00 S IB E P RE N L IM AB Z IG A K IB AR T P
Slide 21: IgA responses consistent between HVs and IgAN patients
IgA responses are consistent between HVs and IgAN J A D E1 0 1 patients and predictive of clinical efficacy IgA reduction in HVs is highly correlated with IgA …and early IgA reduction further correlates with reduction in IgAN patients at multiple time points… W36 UPCR reduction, in IgAN patients wk2
Slide 22: JADE201
JADE201 a potentially best-in-class afucosylated anti-BAFF-R mAb 22
Slide 23: A potentially best-in-class afucosylated anti-BAFF-R mAb
A potentially best-in-class afucosylated anti-BAFF-R mAb J A D E2 0 1 With dual MOA B cell depletion to treat autoimmune diseases ▪ B cell depletion has proven effective in autoimmune disease, but existing therapies like ▪ Resistance mechanisms, particularly elevated BAFF after JADE201 builds rituxi
Slide 24: JADE201's dual MOA expected to deliver deeper, more durable B cell depletion
JADE201's dual MOA expected to deliver deeper, more J A D E2 0 1 durable B cell depletion Direct Cytotoxicity via Enhanced B Cell Inhibition and Depletion by BAFF Effector Function Starvation ▪ Validated mechanism that induces rapid B cell ▪ Mechanism works in context of low receptor expression depl
Slide 25: Potentially best-in-class properties of JADE201
Potentially best-in-class properties of JADE201 J A D E2 0 1 Novel IP for composition of matter into mid-2040s HLE via Fc LS mutation ▪ Predicted to match, with potential for improved clinical activity due to increased exposure compared to ianalumab with less frequent dosing Binds BAFF-R broadly exp
Slide 26: JADE201 high BAFF-R binding affinity and functional activity
JADE201 exhibits high BAFF-R binding affinity and J A D E2 0 1 functional activity in preclinical studies BAFF-R Binding (HEK Cells) BAFF-R Blockade (Competition ELISA) 5000 20 00 I N H IB IT I O N % 0000 EC50(nM) IC50(nM) 0 ianalumab .65 ianalumab 2.0 MF I 60 JADE20 . 7 JADE20 2.0 5000 0 20 0 0 0.0
Slide 27: JADE201 demonstrates deep B cell depletion in NHPs
JADE201 demonstrates deep B cell depletion in NHPs J A D E2 0 1 JADE201 PK BAFF-Receptor B Cell Depletion JADE201 Occupancy (RO) demonstrates 06 20 0 BA FF R O O N B C E L LS ( % M E A N ± S E M) ME A N ( ± S E M ) B C E L L D EN SI TY (C O U N T/ U L) C F B (% ) J A DE 2 0 1 C O N C EN T RA T IO N
Slide 28: JADE201 differentiated NHP PK profile from ianalumab
JADE201 demonstrates a differentiated NHP PK profile J A D E2 0 1 from ianalumab >2X HLE demonstrated in NHPs HLE has potential to provide sustained 000 Ianalumab, 0 mg/kg I BAFF receptor occupancy and improved clinical response JADE20 , 0 mg/kg I M E A N ( + SD ) C O N C E N TR A TI O N ( μ G / M L
Slide 29: JADE201 first-in-human trial in rheumatoid arthritis patients
JADE201 first-in-human trial in rheumatoid arthritis patients J A D E2 0 1 on track to begin in Q2 2026; interim data expected in 2027 Phase 1 Study Design Objectives JADE201 Randomized, double-blind, placebo-controlled SAD study P RIM ARY preclinical profile supports potential SC administration in
Slide 30: JADE201 broad opportunity in multiple indications where B cells are pathogenic
JADE201 profile could enable broad opportunity in multiple J A D E2 0 1 indications where B cells are pathogenic U.S. Disease Prevalence1 Disease severity and key Tx modalities across indications2: Sjögren’s ~3.5M Disease JADE201 core opportunity Lupus Nephritis ~85,000 Moderate-to-severe Refractory
Slide 31: Pipeline beyond JADE101 & JADE201
Pipeline beyond JADE101 & JADE201 31
Slide 32: Additional Jade programs focus on best-in-class autoimmune profiles
Additional Jade programs expected to focus on best-in-class P IP E L IN E B EY O N D J A D E1 0 1 & J A D E 20 1 product profiles in high-value autoimmune indications Evaluating additional opportunities to build pipeline of potentially best-in-class autoimmune therapies Autoimmune Potentially best-i
Slide 33: Advancing potentially best-in-class therapies for autoimmune diseases
Advancing potentially best-in-class therapies for C O M P A N Y O V E R V IE W autoimmune diseases Well-capitalized to deliver on key milestones with $311 million in cash as of 3/31/26; runway into 1H 2028 POTE NTIA L P ROG R AM MO A P RE C LINIC AL P HAS E 1 P HAS E 2 P HAS E 3 IND ICA TIONS Candid
Slide 34: Current capitalization
Current capitalization C U R R E N T C A P I TA L IZ A T IO N N U M B ER O F S H A R ES * Common stock Shares outstanding 49,345,967 Preferred stock (as converted to common stock) 12,622,000 Common stock equivalents Pre-funded warrants 8,777,486 Common stock & Total outstanding 70,745,453 common sto
Slide 35: Thank you
Thank you JADEBIOSCIENCES.COM INFO@JA DEBIOSCI ENCES.COM NASDAQ: JBIO