NEW HAVEN, Conn.–(BUSINESS WIRE)–Jul. 27, 2026– Yarrow Bioscience, Inc. (“Yarrow” or the “Company”) (Nasdaq: YARW), a clinical-stage biotechnology company focused on developing transformative therapies for autoimmune thyroid diseases, today announced the completion of its merger with VYNE Therapeutics Inc. (“VYNE”), and the previously announced private financings totaling approximately $200 million. The combined company will operate as Yarrow Bioscience, Inc., with its shares expected to begin trading on the Nasdaq Capital Market on Tuesday, July 28, 2026, under the ticker symbol “YARW.”
Yarrow’s lead product candidate, YB-101, is a potential first-in-class anti-thyroid stimulating hormone receptor (“TSHR”) monoclonal antibody designed to directly disrupt the central mechanism of both GD and TED, offering a single targeted treatment to address both diseases. By blocking TSHR, the common target of autoantibodies in both the thyroid and the eye, YB-101 has the potential to rapidly arrest the disease process and provide improved efficacy and safety versus the current standard of care and other mechanisms in development. YB-101 is designed for convenient subcutaneous administration, with the potential for infrequent dosing and future autoinjector presentation. The Company has initiated dosing in a Phase 2a/2b trial evaluating YB-101 in patients with GD, with or without concurrent TED, and the molecule has received Fast Track Designation from the U.S. Food and Drug Administration (“FDA”). Data from the Phase 2a portion of the trial are expected in the second half of 2027.
The Company’s licensing partner, Changchun GeneScience Pharmaceutical Co., Ltd. (“GenSci”), is currently developing YB-101, also known as GenSci-098, for the treatment of GD and TED in China. YB-101 is currently being evaluated by GenSci in an ongoing Phase 1 single ascending dose (“SAD”) and MAD trial in patients with TED and a Phase 1 SAD trial in patients with GD in China. In the SAD portion of the TED trial, YB-101 demonstrated a rapid, dose-dependent proof-of-mechanism and showed evidence of clinical responses in TED with a favorable safety profile. There were no clinically meaningful safety differences versus placebo in the SAD. These safety data supported the initiation of the MAD portion of the trial in China, as well as the initiation of the Company’s Phase 2a/2b trial in patients with GD. Data from the MAD portion of GenSci’s Phase 1 TED trial are anticipated in the second half of 2027 and will inform future development plans for YB-101 in TED globally.
“Yarrow is emerging with multiple value drivers anchored by YB-101, our potentially first-in-class anti-TSHR antibody, and the opportunity to address two significant market opportunities in GD and TED with a single product candidate,” said Rebecca V. Frey, PharmD, President and Chief Executive Officer of Yarrow. “Current treatments for GD and TED are limited, and many carry serious toxicities or fail to directly address disease-driving TSHR signaling. YB-101 offers an entirely new treatment approach through TSHR blockade, which we believe is the most direct way to disrupt the underlying disease process and has the potential to meaningfully improve outcomes for patients living with GD and TED.
“With multiple clinical catalysts and cash runway into 2028, we believe Yarrow is well positioned to advance YB-101 and establish itself as a leader in thyroid autoimmune disease,” Dr. Frey continued. “We look forward to executing across our development program and advancing our mission to bring transformative therapies to patients.”