Climb Bio rises from Eliem with $9M for preclinical IgA antibody

Eliem Therapeutics, now operating as Climb Bio, has advanced its focus on immune-mediated diseases by acquiring the rights to a promising drug from a Chinese biotech firm. The company has paid $9 million to license an antibody targeting IgA nephropathy from Beijing Mabworks Biotech. This acquisition marks a strategic pivot for Climb Bio, following its recent transition from developing treatments for pain, depression, and epilepsy.

Last October, Eliem Therapeutics rebranded as Climb Bio and shifted its focus away from its former drug candidates, instead concentrating on immune-related conditions. With their latest acquisition, Climb Bio adds CLYM116 to its portfolio, complementing budoprutug, an anti-CD19 monoclonal antibody designed to eliminate CD19-positive B cells. Originally sourced from Eliem's acquisition of Tenet Medicines in early 2024, budoprutug remains a key component of Climb Bio’s strategy.

CLYM116, previously known as MIL116, is a preclinical monoclonal antibody targeting the APRIL (A PRoliferation-Inducing Ligand) receptor. Climb Bio believes this engineered antibody could offer a "best-in-class" solution for unmet medical needs in patients suffering from IgA nephropathy and other B-cell mediated diseases. The antibody's design aims to overcome the limitations of existing APRIL-targeting therapies by preventing the ligand from binding to its receptors. This promises potentially faster and more sustained inhibition of APRIL signaling and a greater reduction of IgA levels.

Aoife Brennan, CEO of Climb Bio, emphasized the significance of this approach, stating that IgA nephropathy is the leading cause of glomerulonephritis globally. Brennan sees APRIL inhibition as a mechanism that has been clinically validated and potentially transformative for treating the condition. The company is eager to expedite the development of CLYM116 and plans to release initial preclinical data in 2025.

The partnership with Beijing Mabworks Biotech, which retains the rights to CLYM116 in China, is mutually beneficial. Mabworks’ chairman and general manager, Feng Li, expressed enthusiasm for the collaboration, highlighting the antibody's promising preclinical results. Li is confident that this partnership aligns with Climb Bio’s dedication to immune-mediated diseases and anticipates advancing CLYM116 into clinical trials swiftly.

Financially, Climb Bio is in a strong position, starting 2025 with $212.9 million in cash and equivalents. The company assures that these resources will sufficiently cover the development of both CLYM116 and budoprutug through to 2027. As Climb Bio continues to evolve, its focus remains on delivering innovative solutions for immune-mediated diseases, leveraging its newly acquired assets to address significant clinical challenges.