EQUITY RESEARCH MEMO

ILIAD Biotechnologies

Generated 5/9/2026

Executive Summary

Conviction (model self-assessment)75/100

ILIAD Biotechnologies is a clinical-stage biotechnology company dedicated to preventing and treating Bordetella pertussis infections. Its lead candidate, BPZE1, is a next-generation pertussis vaccine that has successfully completed two Phase 2 clinical trials, demonstrating safety and immunogenicity. The company aims to address the limitations of current acellular vaccines, which have waning efficacy and fail to prevent transmission. BPZE1 is designed as a live attenuated intranasal vaccine that mimics natural infection to induce broad mucosal and systemic immunity. With pertussis cases rising globally, ILIAD's vaccine could become a critical public health tool. The company is based in San Diego and was founded in 2016, advancing toward pivotal trials.

Upcoming Catalysts (preview)

  • Q4 2026Initiation of Phase 3 Trial for BPZE170% success
  • H1 2027Partnership or Licensing Deal for BPZE160% success
  • Q2 2026Publication of Phase 2b Efficacy Data80% success
Locked sections
  • · Pipeline Analysis
  • · Competitive Landscape
  • · Catalyst Calendar (full 12-month)
  • · Bull Case
  • · Bear Case
  • · Counterfactual Scenarios
  • · Valuation Notes
  • · SEC Filing Highlights
  • · Insider Activity
  • · Literature Watch
  • · Patent Landscape
  • · Mechanism Cluster Map
  • · Audio Briefing (5 min)