Climb Bio files lawsuit against Alumis over drug asset dispute

Climb Bio Inc. (NASDAQ: CLYM) filed a complaint in Delaware Superior Court on December 31, 2024, against Alumis Inc. and its subsidiary Acelyrin Inc., according to a company statement.

The lawsuit centers on a dispute over an Asset Purchase Agreement dated January 11, 2024, between Acelyrin and Tenet Medicines Inc., a wholly owned subsidiary of Climb Bio. The agreement involved the acquisition of certain assets related to budoprutug, a clinical-stage anti-CD19 monoclonal antibody that Climb Bio is developing to treat B-cell mediated diseases.

Climb Bio seeks a declaratory judgment that its budoprutug drug candidate does not qualify as a "Product" under the Asset Purchase Agreement. The company also contests owing a milestone payment that Alumis has requested in connection with budoprutug's development.

The filing was disclosed in a company statement that referenced the complaint as an exhibit.

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