Exclusive Summary

• UB694 is a globally leading, potential First-in-class TSHR-targeted monoclonal antibody poised to be the world's first marketed drug with this precise mechanism.
• It demonstrates outstanding safety superiority over approved IGF-1R antibodies by completely eliminating severe adverse events like deafness, hyperglycemia, and gastric reactions.
• The administration profile drastically improves patient convenience and compliance, utilizing subcutaneous injection every 8 weeks (Q8W SC) versus the burdensome 3-week intravenous infusion (Q3W IV).
• By targeting the root cause of the autoimmune response, UB694 inherently treats both Thyroid Eye Disease (TED) and Hyperthyroidism (GD), exponentially expanding the addressable demographic.
• Early clinical data significantly de-risks the asset, with blinded Phase I SAD data already showing a strong, dose-dependent improvement in exophthalmos and a faster onset of action than competing products.

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