Jade Biosciences raises $135M in PIPE; unveils BAFF-R candidate JADE201

Jade Biosciences, Inc.

Private placement raises ~$135M gross via 13.37M shares at $9.14 and pre-funded warrants; close expected Oct 8, 2025.
Pro forma shares outstanding ~67.4M; cash runway extended into first half 2028.
Licenses BAFF-R antibodies from Paragon Therapeutics; up to $22M in milestones plus low-to-mid-single-digit royalties.
JADE201 is a half-life extended afucosylated anti-BAFF-R mAb; Phase 1 in rheumatoid arthritis expected H1 2026.
NHP data shows ~2-fold half-life increase vs ianalumab and sustained B-cell depletion after single SC dose.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.