Beijing Mabworks Biotech Co., Ltd.

Climb Bio is currently conducting IND-enabling studies for the therapy. Credit: PeopleImages.com – Yuri A / Shutterstock. Climb Bio has entered an exclusive licence agreement with Beijing Mabworks Biotech for developing and commercialising the anti-A proliferation-inducing ligand (APRIL) monoclonal antibody, CLYM116 (formerly MIL116), outside Greater China. Under the agreement, Mabworks will obtain an upfront cash payment of $9m from Climb Bio, with additional milestone payments and royalties on net sales contingent on achieving certain development, regulatory, and commercial milestones. Climb Bio will also pay tiered royalties on net sales outside of Greater China, ranging from low to mid-single digits. Mabworks general manager and board chairman Dr Feng Li said: “MIL116 (now CLYM116) has been specifically designed to meet the needs of patients with IgA [immunoglobulin A] nephropathy and has shown promising data in several preclinical models. “We are thrilled to partner with Climb Bio, given their focus on immune-mediated diseases, and leverage the capabilities and expertise of both organisations to advance this programme to clinical trials as expeditiously as possible.” Climb Bio noted that the therapy is intended to address individuals with IgA nephropathy and other B-cell-mediated conditions. The company’s portfolio also includes budoprutug, an anti-cluster of differentiation 19 (CD19) antibody. With an Fc-engineered design, CLYM116 targets APRIL signalling, a key factor in B-cell-mediated diseases. The antibody’s mechanism of action includes blocking APRIL’s binding to its receptors and promoting its degradation. The new bind-and-release design of the therapy allows for potent APRIL signalling inhibition and IgA depletion. The antibody’s engineering also extends its serum half-life, suggesting that patients could benefit from less frequent dosing. Climb Bio is currently conducting IND-enabling studies for the therapy and plans to release preclinical study data this year. Climb Bio CEO and president Aoife Brennan said: “Adding CLYM116 to our pipeline represents a pivotal moment for Climb Bio as we advance our ambition of becoming a leader in developing best-in-class treatments for patients with immune-mediated diseases.”

Transaction Expands Climb Bio’s Pipeline of B-cell Targeted Therapeutics to Address Immune-mediated Diseases New Program is a Highly Potent, Fc-engineered anti-APRIL Monoclonal Antibody Specifically Designed to Address Patient Needs Preclinical Data Expected to be Shared Later in 2025 WELLESLEY HILLS, MA, USA I January 09, 2025 I Climb Bio, Inc. (Nasdaq: CLYM) today announced it has entered into an exclusive license agreement with Beijing Mabworks Biotech Co., Ltd. (NEEQ Code: 874070, Mabworks) for rights to develop and commercialize MIL116 (now CLYM116), an anti-APRIL (A PRoliferation-Inducing Ligand) monoclonal antibody, in the territory outside of Greater China. Climb Bio believes CLYM116 is a potential best-in-class approach to address significant unmet need in patients with IgA nephropathy and other B-cell mediated diseases. This transaction furthers Climb Bio’s goal of becoming a leader in developing new treatment options for immune-mediated diseases, complementing the Company’s anti-CD19 antibody, budoprutug. “Adding CLYM116 to our pipeline represents a pivotal moment for Climb Bio as we advance our ambition of becoming a leader in developing best-in-class treatments for patients with immune-mediated diseases,” said Aoife Brennan, President and CEO of Climb Bio. “IgA nephropathy is the most common cause of glomerulonephritis worldwide, and we believe that inhibition of APRIL is both a clinically validated mechanism and potentially disease modifying approach for this indication. We look forward to rapidly advancing CLYM116 and sharing initial preclinical data later in 2025.” CLYM116, an Fc-engineered anti-APRIL monoclonal antibody, has the potential to address limitations of APRIL-targeted therapeutics currently in development. CLYM116 utilizes a novel mechanism of action to prevent APRIL signaling, potently blocking binding of APRIL to its receptors and also promoting lysosomal APRIL degradation via a pH-dependent bind-and-release design. Through its unique binding profile, CLYM116 has the potential to enable more rapid, deep and durable inhibition of APRIL signaling and IgA depletion. CLYM116 was engineered to increase serum half-life, potentially enabling an improved exposure profile and less frequent dosing in patients. CLYM116 is currently in IND-enabling studies, and Climb Bio plans to share data from the ongoing preclinical studies later in 2025. “MIL116 (now CLYM116) has been specifically designed to meet the needs of patients with IgA nephropathy and has shown promising data in several preclinical models,” said Dr. Feng Li, Chairman of the Board and General Manager of Mabworks. “We are thrilled to partner with Climb Bio, given their focus on immune-mediated diseases, and leverage the capabilities and expertise of both organizations to advance this program to clinical trials as expeditiously as possible.” Transaction Details Under the terms of the agreement, Climb Bio will make an upfront cash payment of $9 million to Mabworks, and will be required to make certain additional payments upon the achievement of specified development, regulatory and commercial milestones, and pay low- to mid-single digit tiered royalties on net sales outside of Greater China. Further details on Climb Bio’s technology transfer and exclusive license agreement with Mabworks, CLYM116 and IgA nephropathy can be found in Climb Bio’s latest corporate presentation, which is available under the heading “Investors & News” at climbbio.com. Financial Update As of December 31, 2024, Climb Bio had cash, cash equivalents and short-term marketable securities of approximately $212.9 million. Following its entry into the license agreement, Climb Bio anticipates that its existing cash resources will be sufficient to fund its planned operations, including the development of budoprutug and CLYM116, through 2027. About Climb Bio, Inc. Climb Bio, Inc. is a clinical-stage biotechnology company developing therapeutics for patients with immune-mediated diseases. The Company’s pipeline includes, budoprutug, an anti-CD19 monoclonal antibody that has demonstrated B-cell depletion and has potential to treat a broad range of B-cell mediated diseases, and CLYM116, an APRIL-targeted monoclonal antibody currently in IND-enabling studies for IgA nephropathy. For more information, please visit climbbio.com . SOURCE: Climb Bio

In return for the ex-China rights to CLYM116, Climb agreed to hand over $9 million in upfront cash plus an undisclosed amount in potential milestones.\n Eliem Therapeutics is continuing its transformation into an immune-mediated disease company by paying $9 million to license a Chinese biotech’s IgA nephropathy antibody.Last October, Eliem metamorphized into Climb Bio after giving up on its pain, depression and epilepsy candidates one by one over the previous two years. Until today, Climb’s remaining portfolio had consisted of budoprutug, an anti-CD19 monoclonal antibody designed to deplete CD19-positive B cells. Eliem had picked up the drug from its acquisition of Tenet Medicines earlier in 2024.Today’s deal with Beijing Mabworks Biotech brings an additional asset in the form of MIL116, to be rebranded as CLYM116. Climb believes that the preclinical anti-APRIL (A PRoliferation-Inducing Ligand) monoclonal antibody can offer a “potential best-in-class approach to address a significant unmet need in patients with IgA nephropathy and other B-cell mediated diseases.”The idea is that the Fc-engineered antibody can address the limitations of other APRIL-targeted therapeutics currently in development by blocking binding of the ligand to its receptors. This means the candidate has the potential to offer more rapid and durable inhibition of APRIL signaling and IgA depletion, according to the biotech.“IgA nephropathy is the most common cause of glomerulonephritis worldwide, and we believe that inhibition of APRIL is both a clinically validated mechanism and potentially disease-modifying approach for this indication,” Climb’s CEO Aoife Brennan said in the Jan. 9 release. “We look forward to rapidly advancing CLYM116 and sharing initial preclinical data later in 2025.”In return for the ex-China rights to CLYM116, Climb agreed to hand over $9 million in upfront cash plus an undisclosed amount in potential milestones.“CLYM116 has been specifically designed to meet the needs of patients with IgA nephropathy and has shown promising data in several preclinical models,” Mabworks chairman and general manager Feng Li said in the Jan. 9 release. “We are thrilled to partner with Climb Bio, given their focus on immune-mediated diseases, and leverage the capabilities and expertise of both organizations to advance this program to clinical trials as expeditiously as possible.” Climb entered 2025 with $212.9 million in cash and equivalents, which it said today would be enough to fund the development of both CLYM116 and budoprutug into 2027.