Veradermics (MANE) investor relations material

Origin and development

• The idea for an extended-release oral minoxidil tablet for hair loss originated four to five years ago, inspired by off-label use and the need for improved pharmacokinetics for hair growth versus blood pressure control.

• The team collaborated with various groups to modernize minoxidil formulation, overcoming outdated assumptions from the 1970s and advancing to successful phase II data and three ongoing phase III trials.

Clinical data and differentiation

• Phase II trials in men showed fast, consistent, and intense hair growth results, with visible changes as early as two months and strong tolerability.

• The extended-release formulation delivers higher and more sustained minoxidil exposure at the follicle, aiming to maximize hair growth while minimizing cardiac risk by avoiding peak plasma spikes.

• Co-primary endpoints in trials are target area hair count and patient-reported outcomes, using validated digital analysis and blinded expert review.

• Ongoing studies in women are expected to show similar efficacy, as topical minoxidil is already approved for both genders.

Market positioning and commercial strategy

• Hair loss affects 80 million people in the U.S., with about 15 million actively treating and 1 million on prescription drugs.

• The commercial strategy focuses on physician adoption (especially dermatologists and high-volume primary care), patient adoption, and a patient-centric distribution network, including telehealth and direct-to-consumer channels.

• Over 100,000 people have shown interest in clinical trials via digital ads, indicating strong consumer demand.

• The product is positioned as a premium, differentiated solution in a market where patients are highly motivated and willing to pay for effective, studied treatments.