Alumis Inc. and its subsidiary Acelyrin have issued a Notice of Material Breach and Notification of Claim for Indemnification to Climb Bio, Inc. after Climb Bio refused to pay a $3 million development milestone due on January 1, 2026, under an asset purchase agreement. Climb Bio, which had previously acknowledged its payment obligations in SEC filings, has filed a declaratory judgment action in Delaware Superior Court, asserting that its drug candidate budoprutug does not qualify as a "Product" under the agreement. Alumis maintains that budoprutug was the program acquired and that Climb Bio’s position contradicts the terms of the agreement and prior statements. Alumis intends to seek the milestone payment, interest, legal fees, and other relief in response to what it describes as a material and willful breach of contract.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Alumis Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-000197), on January 02, 2026, and is solely responsible for the information contained therein.