Jade Biosciences Completes Merger with Aerovate Therapeutics

Jade Biosciences Inc. has finalized its merger with Aerovate Therapeutics, which will now be known as Jade Biosciences, Inc. and will trade under the ticker JBIO on Nasdaq. Prior to the merger, Jade raised approximately $300 million through an oversubscribed private placement led by a collection of notable healthcare investors, including Fairmount, Venrock Healthcare Capital Partners, and others. A special $2.40 cash dividend was distributed to Aerovate shareholders as part of the merger conditions. Jade's leading candidate, JADE-001, is targeting autoimmune disease IgA nephropathy with expected clinical trials commencing in late 2025. Additionally, Jade has preclinical development underway for JADE-002 and JADE-003, aiming to enhance autoimmune disease management. Tom Frohlich, CEO, emphasizes Jade's commitment to transformative therapies for autoimmune conditions, leveraging an extensive financial base to drive innovative treatment alternatives.