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Immune Thrombocytopenic Purpura: two biotech companies racing to a treatment

Immunology & InflammationOrphan cornerData as of 2026-09-04

Competitors2in the clinic
Median market cap$1.1Buniverse median $1.20B
Allocated capital$458M$2.3B competing
Phase 3 or filed00 mid, 2 early
Pure plays0this indication only
Capital rank215/299crowding rank 98

Immune Thrombocytopenic Purpura is a two-horse race: Cullinan Therapeutics (CGEM, $1.4B) against Climb Bio (CLYM, $838M).

A duopoly prices differently from an empty field. Each company is the other's comparable, so a readout from either side repositions both, and $458M of allocated capital sits on the pair.

CGEM carries 63% of the $2.3B competing here, so the pair is far from evenly matched.

$458M of allocated capital sits in Immune Thrombocytopenic Purpura, ranking it 215th of 299 indications by the money committed to it.

Companies developing drugs for Immune Thrombocytopenic Purpura 2

TickerCompanyLead assetPhaseTrialsMarket capPure playIndicationsNext catalyst
CGEMCullinan TherapeuticsVelinotamig specified dose on specified daysPhase 11$1.4BNo8 14 Sep 2026
CLYMClimb BioBudoprutugPhase 11$838MNo3 31 Dec 2026

Sorted by phase, then by market capitalisation. Ticker links open the company profile. CGEM holds 63% of the $2.3B competing in this indication.

Why Immune Thrombocytopenic Purpura is a orphan corner

A thin field of small caps. Few competitors, none of them large.

The map splits indications on two folds: six or more competitors counts as crowded, and a median company above $1.20B counts as richly priced. Immune Thrombocytopenic Purpura has 2 competitors and a median of $1.1B.

Immunology & Inflammation

Immunology & Inflammation holds $139B of the map's capital, 20.7% of the total, spread across 51 indications and 82 companies. 23 of those indications have more than one company competing.

See every Immunology & Inflammation indication on the map

Related indications in Immunology & Inflammation

Chronic Graft-versus-Host Disease1 company · $458M · median $1.8BUncontestedComplement 3 Glomerulopathy1 company · $461M · median $1.4BUncontestedThrombotic Thrombocytopenic Purpura1 company · $461M · median $1.4BUncontestedIgG4 Related Disease1 company · $536M · median $2.1BUncontestedSystemic Sclerosis4 companies · $582M · median $540MOrphan cornerLupus Nephritis5 companies · $589M · median $516MOrphan cornerInflammatory Bowel Disease1 company · $609M · median $3.0BUncontestedIdiopathic Membranous Nephropathy1 company · $279M · median $838MUncontested

Immune Thrombocytopenic Purpura pipeline questions

Which biotech companies are developing drugs for Immune Thrombocytopenic Purpura?

Cullinan Therapeutics (CGEM, Velinotamig specified dose on specified days, Phase 1); Climb Bio (CLYM, Budoprutug, Phase 1). Those are the 2 US-listed developers in the $100M to $20B market cap band with a clinical-stage programme in Immune Thrombocytopenic Purpura.

How advanced is the Immune Thrombocytopenic Purpura pipeline?

Of the 2 clinical-stage programmes in Immune Thrombocytopenic Purpura, 0 are in Phase 3 or filed, 0 are in mid-stage development and 2 are in early-stage development.

Which company leads the Immune Thrombocytopenic Purpura field?

CGEM is the largest developer in Immune Thrombocytopenic Purpura, holding 63% of the $2.3B of market capitalisation competing in the indication. The median competitor is worth $1.1B.

When is the next Immune Thrombocytopenic Purpura catalyst?

The next dated catalyst in Immune Thrombocytopenic Purpura is CGEM on 14 Sep 2026. 2 dated events across the field fall in the next 12 months.

How this page is built

  • Universe is US-listed drug developers with a $100M to $20B market capitalisation, identified by SEC SIC code 2833, 2834 or 2836 or by a pharmaceutical or biotechnology industry classification, less a reviewed exclusion list of contract research organisations, device and diagnostics makers and diversified generics manufacturers.
  • An asset attributed to three or more different companies is treated as shared standard of care rather than any one company’s programme and excluded. Pembrolizumab alone appears under 21 tickers in raw trial data.
  • A programme counts only where at least one industry-sponsored trial supports it, so investigator-initiated academic studies of third-party drugs are excluded.

Allocated capital divides each company’s market capitalisation evenly across the indications it is running clinical programmes in, so every dollar of the universe is counted exactly once. Total market capitalisation competing counts a company in each of its indications and therefore sums to more than the universe.

Third-party market size estimates are not used anywhere on this page. Approved incumbents are excluded from competitor counts, and companies above $20B are outside the universe by construction.

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