Climb Bio sues Alumis to avoid $3M milestone payment, disputes 'Product' definition under APA

Climb Bio, Inc.

Filed complaint in Delaware Superior Court seeking declaratory judgment that budoprutug is not a 'Product' under the APA.
Alumis invoiced $3M milestone payment due Jan 1, 2026 for Phase 2 initiation; Climb denies any obligation.
Climb dosed first patient in Phase 2 trial on Nov 17, 2025; claims no Royalty-Bearing Patents exist to trigger milestone.
Dispute centers on interpretation of APA; Climb argues no patents transferred or filed within nine months of closing.
Climb states it attempted to resolve out of court but Alumis refused.

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