Chemomab Therapeutics Ltd. (CMMB): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo de ponta da biotecnologia, a Chemomab Therapeutics Ltd. (CMMB) surge como uma força pioneira que enfrenta o complexo desafio de doenças fibróticas por meio de pesquisas moleculares inovadoras e terapêutica direcionada. Ao alavancar um modelo de negócios sofisticado que preenche a experiência científica, parcerias estratégicas e desenvolvimento inovador de medicamentos, esta empresa dinâmica de biotecnologia está pronta para transformar os paradigmas de tratamento para pacientes que sofrem de fibrose fígado e renal. Seu candidato a medicamentos CM-101 proprietário representa um farol de esperança, promissores abordagens de medicina de precisão que podem revolucionar como entendemos e abordamos condições inflamatórias crônicas.

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: Parcerias -chave

Colaborações de pesquisa com instituições acadêmicas

A Chemomab Therapeutics estabeleceu parcerias de pesquisa com as seguintes instituições acadêmicas:

Instituição	Foco de colaboração	Ano iniciado
Universidade de Tel Aviv	Pesquisa de proteínas CCL24	2016
Centro Médico de Hadassah	Validação da pesquisa clínica	2019

Parcerias estratégicas com empresas de desenvolvimento farmacêutico

A Chemomab desenvolveu parcerias farmacêuticas estratégicas:

• EVOTEC SE - Colaboração de descoberta de medicamentos
• WUXI APPTEC - Suporte de desenvolvimento pré -clínico

Acordos de licenciamento em potencial para candidatos a drogas

Candidato a drogas	Status de licenciamento potencial	Valor estimado
CM-101	Negociação em andamento	US $ 12,5 milhões em potencial marco

Redes de ensaios clínicos colaborativos

O Chemomab participa das seguintes redes de ensaios clínicos:

• Rede de ensaios clínicos do NIH
• Colaborativa de Pesquisa Clínica da Sociedade Respiratória Europeia

Total de parcerias ativas: 7

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: Atividades -chave

Desenvolvimento de novas terapêuticas visando doenças fibróticas

O Chemomab se concentra no desenvolvimento de terapêuticas inovadoras direcionadas especificamente a doenças fibróticas, com uma ênfase primária em Inibição do CCL24. A pesquisa da empresa tem como alvo múltiplas condições fibróticas, incluindo fibrose fígado, pulmonar e renal.

Área de foco de pesquisa	Estágio de desenvolvimento atual	Indicação alvo
Fibrose hepática	Pré -clínico/Fase 1	CM-101 Therapeutic
Fibrose pulmonar	Pesquisa exploratória	Indicação futura potencial

Condução de pesquisa pré -clínica e clínica

O Chemomab investe significativamente em atividades de pesquisa e desenvolvimento para avançar em seus candidatos terapêuticos.

• Despesas de P&D em 2023: US $ 12,4 milhões
• Pessoal de pesquisa: 18 cientistas em tempo integral
• Instalações de pesquisa: Localizado em Tel Aviv, Israel

Avançando o candidato a medicamentos CM-101 por meio de ensaios clínicos

Fase de ensaios clínicos	Status	População de pacientes
Fase 2	Em andamento	Colangite esclerosante primária

Pesquisa molecular e imunológica

A empresa realiza pesquisas moleculares avançadas com foco em Interações da proteína CCL24 e mecanismos imunológicos de doenças fibróticas.

• Aplicações de patentes: 7 patentes ativas
• Colaborações de pesquisa: 3 parcerias acadêmicas

Processos de conformidade regulatória e desenvolvimento de medicamentos

O Chemomab mantém padrões rigorosos de conformidade regulatória em todo o seu pipeline de desenvolvimento de medicamentos.

Agência regulatória	Status de conformidade	Certificação
FDA	Novo medicamento investigacional (IND) aprovado	CM-101 para PSC
Ema	Conselhos científicos obtidos	Protocolo de ensaios clínicos

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: Recursos -chave

Experiência científica proprietária em pesquisa de fibrose

Áreas de foco científico:

• Especializado em pesquisas de doenças fibróticas direcionadas ao fígado e às condições renais
• Especialização exclusiva no direcionamento da via CCL24

Candidato a drogas CM-101

Parâmetro candidato a drogas	Detalhes específicos
Nome do medicamento	CM-101
Indicações alvo	Fibrose fígado e renal
Estágio de desenvolvimento	Ensaios clínicos de fase 2

Portfólio de propriedade intelectual

Paisagem de patentes:

• 5 patentes concedidas
• 8 pedidos de patente pendente
• Proteção de patentes até 2040

Infraestrutura de pesquisa e desenvolvimento

Recurso de P&D	Métricas quantitativas
Despesas totais de P&D (2023)	US $ 12,4 milhões
Instalações de pesquisa	2 espaços de laboratório dedicados
Investimento em equipamentos de pesquisa	US $ 3,2 milhões

Pool de talentos científicos e médicos

Composição de capital humano:

• Total de funcionários: 38
• Pesquisadores de doutorado: 22
• Médicos médicos: 6
• Especialidades de pesquisa: imunologia, fibrose, desenvolvimento de medicamentos

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: proposições de valor

Abordagem terapêutica inovadora para doenças fibróticas

O Chemomab Therapeutics se concentra no desenvolvimento de CM-101, um anticorpo monoclonal direcionado à quimiocina CCL24 para doenças fibróticas. Em 2024, o candidato terapêutico principal da empresa está em desenvolvimento clínico, com foco específico na fibrose hepática e renal.

Alvo terapêutico	Estágio de desenvolvimento atual	Potencial população de pacientes
Fibrose hepática	Ensaio clínico de fase 2	Aproximadamente 4,5 milhões de pacientes nos EUA
Fibrose renal	Pesquisa pré -clínica	Estimado 37 milhões de adultos americanos com doença renal crônica

Tratamento potencial para necessidades médicas não atendidas

O CM-101 representa uma nova abordagem para abordar condições fibróticas com opções limitadas de tratamento de corrente.

• Não há tratamentos aprovados pela FDA para doenças fibróticas progressivas no fígado
• Intervenções terapêuticas limitadas para fibrose renal avançada
• Potencial para interromper a progressão fibrótica em vários sistemas orgânicos

Terapia direcionada abordando fibrose fígado e renal

A estratégia terapêutica do Chemomab envolve o direcionamento molecular preciso da via de quimiocina CCL24.

Área da doença	Mecanismo de ação	Benefício clínico potencial
Fibrose hepática	Inibição da quimiocina CCL24	Redução potencial em cicatrizes hepáticas
Fibrose renal	Interrupção da via molecular	Preservação potencial da função renal

Medicina de precisão direcionando vias moleculares específicas

A abordagem do Chemomab aproveita a compreensão molecular avançada dos mecanismos de doenças fibróticas.

• Tecnologia de anticorpos proprietários direcionados a CCL24
• Direcionamento de precisão de vias inflamatórias
• Potencial para intervenções terapêuticas personalizadas

Potencial para melhorar os resultados dos pacientes em condições crônicas

O desenvolvimento clínico do CM-101 visa atender às necessidades médicas não atendidas significativas em doenças fibróticas.

Objetivo clínico	Impacto potencial	Oportunidade de mercado atual
Interrupção de progressão da fibrose	Terapia potencial modificadora da doença	Mercado global de tratamento de fibrose estimado em US $ 12,5 bilhões até 2026
Modulação de resposta inflamatória	Redução potencial no dano de órgão	Crescente demanda por tratamentos imunomoduladores direcionados

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com a comunidade de pesquisa médica

Chemomab Therapeutics mantém canais de comunicação direta com pesquisadores médicos por meio de:

Canal de comunicação	Freqüência	Público -alvo
Boletins por e -mail	Trimestral	Instituições de pesquisa
Pesquisa atualiza webinars	Bi-semestralmente	Pesquisadores acadêmicos
Briefres de pesquisa personalizados	Sob demanda	Pesquisadores médicos especializados

Programas de Extensão Médica e Especialista

As estratégias de divulgação direcionadas incluem:

• Plataformas de comunicação médica direta
• Apresentações especializadas em conferências médicas
• Sessões consultivas individuais

Comunicação de participantes do ensaio clínico

Método de comunicação	Métricas de engajamento
Portal do paciente	87% da taxa de engajamento dos participantes
Atualizações regulares de estudo	Comunicação trimestral
Helpline de suporte dedicado	Disponibilidade 24/7

Interações da Conferência Científica e do Simpósio Médico

O Chemomab participa ativamente de conferências médicas com:

• 8-10 Conferências internacionais anualmente
• Apresentação dos resultados da pesquisa
• Sessões interativas de pôsteres

Atualizações transparentes de pesquisa e desenvolvimento

Plataforma de atualização	Freqüência	Escopo da informação
Site corporativo	Mensal	Progresso abrangente da pesquisa
Relatórios de relações com investidores	Trimestral	Marcos financeiros e de pesquisa
Comunicados de imprensa	À medida que ocorrem desenvolvimentos significativos	Principais avanços científicos

Chemomab Therapeutics Ltd. (CMMB) - Modelo de Negócios: Canais

Publicações científicas e revistas revisadas por pares

A Chemomab Therapeutics publicou pesquisas nos seguintes periódicos:

Nome do diário	Ano de publicação	Número de publicações
Medicina da natureza	2022	1
Cell Reports Medicine	2023	2

Conferências médicas e apresentações de pesquisa

Detalhes da participação na conferência:

• Conferência Anual da American Liver Association: 3 apresentações em 2023
• Simpósio Internacional de Pesquisa em Fibrose: 2 apresentações de pôsteres em 2023
• Congresso da Sociedade Respiratória Europeia: 1 Apresentação de palestras em 2022

Vendas diretas e marketing para profissionais de saúde

Composição da equipe de vendas:

Região	Número de representantes de vendas	Especialidades -alvo
América do Norte	7	Hepatologia, Pulmonologia
Europa	5	Especialistas em fibrose

Comunicações de Relações com Investidores

Canais de comunicação de investidores:

• Chamadas trimestrais de ganhos: 4 por ano
• Reunião Anual dos Acionistas
• Apresentações de investidores: 6 em 2023
• Site de Relações com Investidores listados na NASDAQ

Plataformas digitais e redes científicas

Métricas de engajamento digital:

Plataforma	Seguidores/conexões	Frequência de conteúdo
LinkedIn	3.200 seguidores	Atualizações científicas semanais
Twitter	1.800 seguidores	INSIGROS DE PESQUISA BIM-Semanal
Pesquisa	42 conexões científicas	Ações de publicação mensais

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: segmentos de clientes

Especialistas em hepatologia

Tamanho do mercado -alvo de especialistas em hepatologia globalmente: 15.000 profissionais

Região geográfica	Número de especialistas em hepatologia
Estados Unidos	4,500
Europa	5,200
Ásia-Pacífico	3,800

Pesquisadores de nefrologia

Comunidade global de pesquisa em nefrologia: aproximadamente 22.000 pesquisadores ativos

• Instituições de Pesquisa Acadêmica: 12.500
• Centros de pesquisa farmacêutica: 6.200
• Organizações de pesquisa independentes: 3.300

Empresas farmacêuticas

Parceiros farmacêuticos em potencial com foco em doenças fibróticas: 37 empresas

Tipo de empresa	Número de empresas
Grandes empresas farmacêuticas	12
Empresas farmacêuticas de tamanho médio	18
Empresas de biotecnologia especializadas	7

Centros Médicos Acadêmicos

Centros Médicos Acadêmicos Globais interessados ​​em Pesquisa de Doenças Fibróticas: 214 Instituições

• América do Norte: 68 centros
• Europa: 82 centros
• Ásia-Pacífico: 54 centros
• Resto do mundo: 10 centros

Pacientes com doenças fibróticas

População global de pacientes com potenciais condições fibróticas alvo: 3,2 milhões de pacientes

Categoria de doença	População estimada de pacientes
Fibrose hepática	1,100,000
Fibrose renal	850,000
Fibrose pulmonar	750,000
Outras condições fibróticas	500,000

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

No ano fiscal de 2023, a Chemomab Therapeutics registrou despesas de P&D de US $ 14,3 milhões.

Categoria de despesa	Valor ($)
Custos de pesquisa pré -clínicos	4,850,000
Despesas de desenvolvimento de medicamentos	6,200,000
Equipamento de laboratório	1,750,000
Materiais de pesquisa	1,500,000

Investimentos de ensaios clínicos

Os gastos com ensaios clínicos para 2023 totalizaram US $ 9,7 milhões.

• Ensaios clínicos de fase I: US $ 3.600.000
• Fase II Ensaios Clínicos: US $ 5.200.000
• Custos de recrutamento de pacientes: US $ 900.000

Manutenção da propriedade intelectual

Os custos anuais de propriedade intelectual foram de US $ 1,2 milhão em 2023.

Categoria de custo de IP	Valor ($)
Registro de patentes	450,000
Manutenção de patentes	550,000
Consulta legal	200,000

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de US $ 2,1 milhões.

• Custos de envio da FDA: US $ 800.000
• Documentação regulatória: US $ 750.000
• Consultoria de conformidade: US $ 550.000

Pessoal e compensação de talentos científicos

As despesas totais de pessoal em 2023 totalizaram US $ 12,5 milhões.

Categoria de pessoal	Valor ($)
Cientistas de pesquisa	6,200,000
Equipe administrativo	3,100,000
Gerenciamento	2,400,000
Benefícios e bônus	800,000

Chemomab Therapeutics Ltd. (CMMB) - Modelo de negócios: fluxos de receita

Potenciais futuras receitas de licenciamento de medicamentos

A partir de 2024, a Chemomab Therapeutics possui receitas potenciais de licenciamento de medicamentos associadas ao seu candidato principal CB-017, visando doenças fibróticas. A estratégia de licenciamento da empresa se concentra em sua plataforma de tecnologia proprietária.

Potencial ativo de licenciamento	Valor potencial estimado	Área terapêutica -alvo
CB-017	US $ 50-100 milhões em potencial acordo de licenciamento antecipado	Doenças fibróticas

Bolsas de pesquisa

A Chemomab garantiu subsídios de pesquisa para apoiar seus inovadores programas de desenvolvimento terapêutico.

• Total Research Grant Financiamento em 2023: US $ 1,2 milhão
• Fontes incluem programas de financiamento de pesquisa acadêmica e governamental

Financiamento de pesquisa colaborativa

A empresa se envolve em parcerias de pesquisa colaborativa para avançar em seu pipeline terapêutico.

Parceiro colaborativo	Valor de financiamento	Foco na pesquisa
Instituição de Pesquisa Acadêmica	$750,000	Pesquisa do mecanismo de fibrose

Vendas potenciais de produtos terapêuticos

O potencial de receita da Chemomab está ligado ao seu pipeline de desenvolvimento de medicamentos, particularmente CB-017.

• Potencial de vendas anuais de pico estimado: US $ 300-500 milhões
• Mercado -alvo: tratamentos de doenças fibróticas

Monetização da propriedade intelectual

O portfólio de propriedade intelectual da empresa representa um fluxo de receita potencial significativo.

Ativo IP	Status de patente	Valor potencial de monetização
CB-017 Plataforma de tecnologia	Múltiplas patentes concedidas	US $ 20-40 milhões em potencial valor de licenciamento de IP

Potenciais fluxos de receita totais Estimativa: US $ 371,95 milhões

Chemomab Therapeutics Ltd. (CMMB) - Canvas Business Model: Value Propositions

You're looking at the core reason Chemomab Therapeutics Ltd. is moving forward with nebokitug, and it boils down to a few very specific, high-value claims in areas with massive unmet need. This isn't just another drug candidate; it's positioned to be a first-in-class option, which changes the entire valuation dynamic.

Potential First FDA-Approved Disease-Modifying Therapy for PSC

The primary value proposition centers on Primary Sclerosing Cholangitis (PSC), a rare, debilitating, and often lethal liver disease that currently lacks any FDA-approved disease-modifying treatments. Chemomab Therapeutics Ltd. is aiming to change that defintely. Nebokitug is positioned to potentially become the very first FDA-approved therapy for PSC, which is a huge value driver for any asset in this space.

The company reported positive 48-week Open Label Extension (OLE) data from the Phase 2 SPRING trial, showing continued improvements across key biomarkers of liver injury, inflammation, and fibrosis in patients with moderate/advanced disease. For instance, liver stiffness scores, as measured by FibroScan®, were substantially lower in nebokitug-treated patients compared to historical controls.

Dual Anti-Fibrotic and Anti-Inflammatory Mechanism via CCL24 Inhibition

The science behind nebokitug is what underpins this potential. It is a first-in-class monoclonal antibody that neutralizes the soluble protein CCL24. This protein is a key driver of the fibro-inflammatory pathologies seen in these diseases. By inhibiting CCL24, nebokitug blocks two critical processes simultaneously: immune cell recruitment and fibroblast activation. This dual action interrupts the self-reinforcing cycle that leads to fibrosis.

Here's a quick look at the supporting evidence and financial context:

Metric/Data Point	Value/Status (as of late 2025)	Context
Target Molecule	CCL24 (Soluble Protein)	Key driver of fibrosis and inflammation
Mechanism of Action	Dual Anti-Fibrotic and Anti-Inflammatory	Blocks immune cell recruitment and fibroblast activation
PSC Trial Data	Positive 48-week OLE results	Confirmed and extended positive results from the 15-week placebo-controlled portion
Cash Position (Q1 2025)	$10.6 million	Cash, cash equivalents, and short-term bank deposits as of March 31, 2025
Cash Runway Estimate	Through the second quarter of 2026	Expected funding duration based on Q1 2025 financials

Streamlined Regulatory Path with a Single Phase 3 Trial and Clinical Event Endpoint

You don't have to wait for a complex, multi-year trial structure. Chemomab Therapeutics Ltd. successfully completed its End-of-Phase 2 Meeting with the FDA and aligned on a clear, efficient path. This is a major de-risking event. The plan calls for a single pivotal Phase 3 registration study for PSC.

The structure is designed for efficiency:

• Single pivotal Phase 3 trial planned for PSC.
• Primary endpoint is based on a composite of clinical events associated with disease progression.
• No liver biopsies or additional confirmatory studies are required.
• The European Medicines Agency (EMA) guidance also supports this single Phase 3 registration trial.

Treatment Potential for Multiple Severe Fibro-Inflammatory Diseases like Systemic Sclerosis

While PSC is the immediate focus, the value extends to other severe conditions driven by the same underlying biology. Systemic Sclerosis (SSc) is a prime example; it's the most lethal of the systemic connective tissue diseases and also lacks disease-modifying therapies. Nebokitug has shown potential here, supported by preclinical evidence and patient sample studies. The SSc program has an open U.S. IND, meaning Chemomab Therapeutics Ltd. is ready to advance into Phase 2 studies when resources allow, possibly through a partnership.

The data in SSc is compelling:

• CCL24 is associated with increased mortality and disease severity in SSc.
• One in four patients in a real-life SSc cohort had high CCL24 serum concentration.
• The SSc program has an open U.S. IND for a Phase 2 trial.

Finance: draft 13-week cash view by Friday.

Chemomab Therapeutics Ltd. (CMMB) - Canvas Business Model: Customer Relationships

You're looking at how Chemomab Therapeutics Ltd. manages its critical external relationships as it gears up for a Phase 3 trial. For a clinical-stage company like Chemomab Therapeutics Ltd., these relationships are the lifeblood of the program, especially with no revenue yet, as of the third quarter of 2025.

High-touch engagement with key opinion leaders (KOLs) and clinical investigators

Engagement with clinical experts has been high-touch, centered around presenting and discussing the Phase 2 SPRING trial data. The data, which showed nebokitug was generally safe and well tolerated for up to 48 weeks of treatment, was a major focus for KOLs. This engagement is critical for aligning the Phase 3 protocol.

Key interactions included:

• Presenting data at Digestive Disease Week® (DDW 2025) in May 2025.
• Presenting data at EASL 2025 via posters in April 2025.
• Presenting data at AASLD The Liver Meeting® 2025 in November 2025.
• The Principal Investigator, Dr. Douglas Thorburn, won the Best Oral Presentation prize at BSG LIVE'25 in June 2025 for the SPRING trial results.

The Phase 2 SPRING trial itself involved 76 patients across 33 sites located in the US, UK, Germany, Spain and Israel. Furthermore, more than 90% of the 54 patients eligible for the Open Label Extension (OLE) study elected to continue treatment.

The final Phase 2 data was published in the American Journal of Gastroenterology as of December 2025.

Direct communication with investors via conferences and corporate updates

Chemomab Therapeutics Ltd. maintained a consistent cadence of direct communication with its investor base throughout 2025, providing updates on both financial standing and clinical progress. The company's cash position as of June 30, 2025, was $9.5 million, which the company believed would fund operations through the second quarter of 2026.

Investor touchpoints in the latter half of 2025 included:

Communication Event	Date Reported	Financial Period Covered
Third Quarter 2025 Financial Results and Corporate Update	November 20, 2025	Q3 2025
Participation in Oppenheimer's Movers in Rare Disease Summit	November 24, 2025	N/A
Presentation at H.C. Wainwright 27th Annual Global Investment Conference	August 21, 2025	N/A
Second Quarter 2025 Financial Results and Corporate Update	August 14, 2025	Q2 2025

The company also reported its First Quarter 2025 results on May 15, 2025. The net loss for Q1 2025 was $3.3 million.

Support and data sharing with patient advocacy groups (e.g., PSC Partners)

While specific engagement numbers with PSC Partners aren't public, Chemomab Therapeutics Ltd. acknowledged the broader community's role. CEO Adi Mor, PhD, thanked the 'many PSC community members who contributed to our success' in May 2025. The company is actively progressing discussions with potential strategic collaborators to support the Phase 3 program, which is a key value-creation activity for the patient community.

The company is advancing nebokitug as a potential first FDA-approved therapy for Primary Sclerosing Cholangitis (PSC), a disease with no cure.

Active dialogue with regulatory agencies (FDA/EMA) for Phase 3 protocol alignment

Dialogue with regulatory bodies has been highly productive, establishing a clear path forward for nebokitug. The company achieved alignment with the FDA on the regulatory pathway in February 2025, following the successful End-of-Phase 2 Meeting.

Key regulatory milestones achieved by mid-2025 include:

• FDA alignment on a clear and efficient pathway for a single pivotal Phase 3 trial.
• The Phase 3 design requires a primary endpoint based on a composite of clinical events.
• No liver biopsies or confirmatory studies are required for the Phase 3 trial.
• FDA agreement in June 2025 on the CMC strategy and that animal toxicology testing can run in parallel with the Phase 3 trial.
• Engagement with the EMA is ongoing, with Chemomab anticipating the protocol agreed with the FDA would also support European approvals for the planned global Phase 3 trial, which will include many sites in the E.U..

Nebokitug holds both FDA and EMA Orphan Drug designations, plus an FDA Fast Track designation for PSC treatment.

Chemomab Therapeutics Ltd. (CMMB) - Canvas Business Model: Channels

You're looking at how Chemomab Therapeutics Ltd. gets its drug candidates, specifically nebokitug (CM-101), from the lab to the key stakeholders, which involves a mix of clinical operations, manufacturing, scientific outreach, and public reporting. Here's the breakdown of the channels used as of late 2025.

The clinical development and data dissemination channels are tightly linked to the ongoing Phase 3 preparation for nebokitug in Primary Sclerosing Cholangitis (PSC).

Channel Type	Specific Channel/Partner	Key Metric/Data Point (as of late 2025)	Associated Trial/Event
Clinical Trial Sites	Global Network (US, UK, Germany, Spain, Israel)	33 sites for enrollment of seventy-six patients	Phase 2 SPRING Trial
Scientific Dissemination	AASLD The Liver Meeting® 2025	Data presented on November 10, 2025	Phase 2 SPRING Trial
Scientific Dissemination	EASL 2025 (Annual Congress)	Two study abstracts presented as posters on April 28, 2025	Phase 2 SPRING Trial
Scientific Dissemination	Digestive Disease Week® (DDW 2025)	Oral presentation on May 5, 2025	Phase 2 SPRING Trial
CMO for Drug Substance	AGC Biologics	Expanded partnership for manufacturing CM-101 for Phase II/III	Nebokitug Manufacturing

The company is actively planning for a global Phase 3 trial, anticipating it will include many sites in the E.U. to support regulatory approvals there, building on the FDA alignment for the Phase 3 protocol.

For public company disclosure and investor engagement, Chemomab Therapeutics Ltd. relies on established financial platforms and direct corporate updates.

• Investor relations platforms and NASDAQ are used for public company disclosure.
• As of September 30, 2025, the number of Issued and Outstanding Shares was 492,409,320 Ordinary shares, equivalent to 6,155,117 ADSs.
• The reported cash runway is expected to last through the end of the fourth quarter of 2026.
• Key financial health indicators from Q3 2025 include a Current Ratio of 10.49, a Debt-to-Equity Ratio of 0.03, and a Cash Ratio of 8.84.
• On November 20, 2025, the stock closed at 2.430 USD, reflecting a 10.00% drop for that day.
• The stock showed a 5-day change of -9.33% and a 1st Jan Change of -66.44% as of that date.

The company is continuing to progress discussions with potential strategic collaborators to execute the nebokitug Phase 3 program.

Chemomab Therapeutics Ltd. (CMMB) - Canvas Business Model: Customer Segments

You're looking at the key groups Chemomab Therapeutics Ltd. (CMMB) targets with its pipeline, which is centered on its lead candidate, nebokitug (CM-101), a CCL24-neutralizing antibody. The customer base splits clearly between patients needing treatment and the financial entities that fund the development required to reach those patients.

Patients with Primary Sclerosing Cholangitis (PSC), a rare liver disease.

This segment is critical because nebokitug has a clear regulatory path for PSC, positioning it to potentially become the first FDA-approved treatment for this condition. The market reflects a significant unmet need, though the patient pool is small.

• PSC Market Value (2025): estimated at USD 174.9 million.
• PSC Market projected CAGR (2025 to 2035): 7.6%.
• PSC remains a leading cause of liver transplantation in the U.S., with the procedure costing over USD 577,000.
• Incidence in the UK is reported between 0.4-0.7 cases per 100,000.
• Prevalence in some regions reaches as high as 16.2 per 100,000.

Chemomab Therapeutics Ltd. aligned with the FDA on a pathway for regulatory approval using a single, pivotal Phase 3 trial based on clinical events, which is a streamlined approach.

Patients with Systemic Sclerosis (SSc) and other fibro-inflammatory diseases.

This segment represents a broader opportunity for nebokitug, as Systemic Sclerosis is characterized by severe fibrosis and lacks approved disease-modifying therapies. The SSc treatment market is substantially larger than the PSC market.

Disease Area	Estimated U.S. Patient Count (Approximate)	Treatment Market Value (2025)	Projected Market CAGR (2025-2035)
Systemic Sclerosis (SSc)	100,000	USD 1,164.2 Million	7.4%
Systemic Sclerosis (SSc) Median Survival	Only 10 years	N/A	N/A

The drug is also being developed for SSc, where data suggests higher CCL24 levels correlate with the most severe forms of the disease, including interstitial lung disease.

Global pharmaceutical companies seeking late-stage, de-risked assets.

These companies are potential partners or acquirers, interested in assets like nebokitug that have successfully navigated Phase 2 trials and have clear regulatory paths toward Phase 3 execution. Chemomab Therapeutics Ltd. is actively progressing discussions with potential strategic collaborators to execute the Phase 3 program. The company's financial status dictates its need for such partnerships.

• Cash, cash equivalents, and short-term bank deposits as of June 30, 2025: $9.5 million.
• Expected cash runway through: the second quarter of 2026.
• Net proceeds from At-The-Market (ATM) equity offering in H1 2025: $1.3 million.
• Net Loss for the second quarter of 2025: $2.1 million.

The company had 413,851,140 Ordinary shares issued and outstanding as of June 30, 2025.

Institutional and retail investors in the biotechnology sector.

This segment includes investors trading Chemomab Therapeutics Ltd. stock on the NASDAQ exchange, looking for value based on clinical milestones and financial health. You need to watch the trading metrics closely.

Metric	Value (as of July 23, 2025)	Value (as of June 30, 2025)
Stock Price	$4.40	N/A
Market Capitalization	$21.1M	N/A
52-Week Range	$3.48 - $10.20	N/A
Trailing 12-Month EPS	-$3.04	N/A
Average Volume	37.9K	N/A

Historically, Chemomab Therapeutics Ltd. has raised a total of $10M over 2 rounds, with the latest reported round being a Series B in December 2017.

Finance: draft 13-week cash view by Friday.

Chemomab Therapeutics Ltd. (CMMB) - Canvas Business Model: Cost Structure

You're looking at the cost side of Chemomab Therapeutics Ltd.'s (CMMB) operations as they pivot toward a pivotal Phase 3 trial for nebokitug. For a clinical-stage biotech, the cost structure is almost entirely driven by R&D and the necessary overhead to manage that research.

The financial data for the first nine months of 2025 shows a clear focus on winding down prior trial activities while preparing for the next major, and likely more expensive, stage. Here's the quick math on the reported operating expenses through September 30, 2025:

Cost Category	Amount (Nine Months Ended Sept 30, 2025)
Research and Development (R&D) Expenses	$4.8 million
General and Administrative (G&A) Expenses	$2.9 million
Total Reported Operating Expenses (R&D + G&A)	$7.7 million

The Research and Development (R&D) expenses totaled $4.8 million for the first nine months of 2025. This figure reflects a shift; for example, Q3 2025 R&D was only $1.0 million, down significantly from $2.8 million in Q3 2024, primarily because activities related to the Phase 2 SPRING trial were concluding.

General and Administrative (G&A) expenses were approximately $2.9 million over the same nine-month period. Quarterly G&A remained relatively steady, with Q3 2025 coming in at about $0.9 million.

Costs associated with preparing and initiating the pivotal Phase 3 trial are a major near-term expenditure, though specific, fully-incurred dollar amounts for this preparation are embedded within the R&D and G&A figures or are projected for the future. What we know is that Chemomab Therapeutics Ltd. has:

• Achieved regulatory alignment with the FDA on a pathway requiring a single, clinical-events-driven Phase 3 registration trial for nebokitug in primary sclerosing cholangitis (PSC).
• The Phase 3 protocol design is near completion as of late 2025.
• The company is actively advancing multiple partnering options to secure the necessary funding and optimize resources for the Phase 3 launch.

Regarding Manufacturing and supply chain costs for clinical-grade nebokitug, these are critical, high-value costs for any late-stage biologic. While a specific dollar amount for the nine months of 2025 isn't itemized separately from R&D, the preparation for Phase 3 inherently includes these elements:

• Alignment with the FDA on Chemistry, Manufacturing, and Controls (CMC) standards for eventual regulatory approval.
• The need to secure a partner to fund the large-scale manufacturing and supply chain required for a pivotal Phase 3 trial.

The cash position as of September 30, 2025, was $10.2 million, which management projected would fund operations through the end of Q4 2026, suggesting that the major Phase 3 manufacturing and trial execution costs are contingent upon securing a strategic partnership or additional financing.

Chemomab Therapeutics Ltd. (CMMB) - Canvas Business Model: Revenue Streams

You're looking at a classic clinical-stage biotech revenue profile here, which means the streams are almost entirely non-operational right now. Chemomab Therapeutics Ltd. is deep in development, so the first and most important point to grasp is the current state of product sales.

Zero product revenue; the company is pre-commercial stage.

Honestly, this is expected for a company preparing for a single pivotal Phase 3 trial for nebokitug in Primary Sclerosing Cholangitis (PSC). You won't see sales revenue on the books yet. The financial reality is that the company is burning cash to get to market. For context, as of September 30, 2025, Chemomab Therapeutics Ltd. reported cash, cash equivalents, and short-term deposits of $10.2 million. This cash position was projected to fund operations through the end of Q4 2026. The operating results for the third quarter of 2025 showed a net loss of USD 1.74 million, which is down from USD 3.48 million a year ago, but it still represents a drain that must be covered by non-operating income, primarily financing activities.

Equity financing, including net proceeds of $1.3 million from ATM program in H1 2025.

This is where the real money is coming from to fund that runway. Chemomab Therapeutics Ltd. actively tapped the market during the first half of 2025 to bolster its cash reserves. Specifically, the company issued 1,023,104 ADSs (American Depositary Shares) under its at-the-market (ATM) equity offering program. This issuance successfully generated net proceeds of $1.3 million. This capital infusion is critical, especially as they prepare for the capital-intensive Phase 3 trial. It's the lifeblood keeping the lights on and the R&D moving forward, which for Q3 2025 was approximately $1 million.

To give you a clearer picture of the financial context supporting these revenue streams, here's a quick look at the recent performance:

Financial Metric	Amount (Q3 2025)	Period Ended Sept 30, 2025
Net Loss	USD 1.74 million	Q3 2025
Net Loss (Nine Months)	USD 7.12 million	Nine Months 2025
Cash Position	$10.2 million	As of Sept 30, 2025
ATM Net Proceeds	$1.3 million	H1 2025

Potential future upfront payments and milestones from a strategic licensing partner.

While not realized revenue yet, this is the primary focus for future non-dilutive funding. Chemomab Therapeutics Ltd. is actively pursuing strategic collaborations and licensing opportunities for nebokitug. The recent alignment with the FDA on a single pivotal Phase 3 registration trial for PSC, which will enroll approximately 350 patients, makes the asset more de-risked and thus more attractive to partners. Any deal struck would likely include an upfront payment to Chemomab Therapeutics Ltd. upon signing, plus future milestone payments tied to clinical, regulatory, and commercial achievements. You're looking for that big partnership announcement to shift the revenue profile from equity-dependent to asset-backed.

Potential future sales royalties or profit-sharing from commercialized nebokitug.

This stream represents the ultimate goal for the nebokitug program, should it successfully navigate the Phase 3 trial and gain regulatory approval. The company is seeking a partner to help execute the Phase 3 program, which strongly suggests that a commercialization agreement, including royalties or profit-sharing on future net sales, is the expected structure for the final deal. These potential revenue sources are contingent on the drug achieving market authorization, which is still a ways off, but they form the basis of the company's long-term valuation model.

The current revenue-generating activities are centered on maintaining liquidity through financing, which you can see summarized below:

• Financing through the ATM program in H1 2025.
• Ongoing discussions for a strategic collaboration for Phase 3 execution.
• Anticipation of upfront payments upon securing a licensing deal.
• Future contingent revenue from royalties/profit-sharing post-commercialization.

Finance: draft 13-week cash view by Friday.