(Incorporated in Delaware)

We are a clinical-stage biotechnology company focused on the discovery and development of novel therapeutics designed to degrade disease-causing extracellular proteins, with an initial focus on addressing autoimmune, inflammatory and allergic diseases. By leveraging our proprietary LYTAC (Lysosomal Targeting Chimera) platform, we have developed a pipeline of therapeutic candidates with the potential to provide deep and durable elimination of extracellular proteins that are inadequately addressed by currently available therapies. We are seeking to advance these therapeutic candidates through a streamlined clinical development strategy designed to generate early proof of concept, including Phase 1 pharmacodynamic and biomarker data, to assess target modulation and inform progression into later-stage clinical development.

Our immunoglobulin E (IgE) portfolio consists of LCA-0061 and LCA-0062, which are both designed with an aim to efficiently degrade IgE for the treatment of allergic diseases, including food allergy.

We are conducting a Phase 1 clinical trial of LCA-0061 in participants with elevated IgE, including patients with food allergy. Preliminary data from our first cohort of healthy atopic participants treated with a single 70 mg subcutaneous (SC) dose of LCA-0061 showed rapid, deep and sustained reduction in total and free IgE. We believe the initial LCA-0061 clinical data supports a differentiated profile from IgE blockers and provides initial human proof-of-mechanism for the LYTAC platform.

LCA-0062, our fast-follower IgE program, is currently in Investigational New Drug (IND)-enabling activities, and, if we receive regulatory clearance, we intend to initiate a Phase 1 clinical trial.

We are also advancing our Graves’ disease program, LCA-0321, which is designed with an aim to selectively degrade thyroid-stimulating hormone receptor (TSHR) autoantibodies (also known as thyrotropin receptor antibodies or TRAbs), the pathogenic drivers of Graves’ disease. We are conducting a Phase 1 clinical trial of LCA-0321 in patients with Graves’ disease.

Note: Net loss and collaboration revenue are for the 12 months that ended on June 30, 2026.

(Note: Lycia Therapeutics, Inc. filed its S-1 on Oct. 5, 2026, for its IPO without disclosing the terms. Estimated proceeds are $100 million.)