AlzeCure Pharma (ALZCUR) Investor presentation summary

Business model and 2026 transactions

• Discovery-to-early-clinical R&D model, with out-licensing and partnering generating upfronts, milestones and royalties; two 2026 agreements validate the approach.

• Lilly licensed Alzstatin, including ACD680, for global development; terms include USD 10M upfront, >USD 1bn deal value excluding royalties and tiered mid-single-digit royalties.

• QuantumCell licensed NeuroRestore, including ACD856, for global development; terms include USD 12M upfront, USD 2.2bn deal value excluding royalties and tiered high-single-digit to low-double-digit royalties.

• Both upfront payments, totaling USD 22M, were received in August 2026; a MSEK 30.1 rights issue was completed in July, after subscriptions reached ~329%.

Alzheimer's programs

• Alzstatin's ACD680 is a gamma-secretase modulator designed to reduce harmful Aβ42 and increase Aβ37/Aβ38; Lilly assumed global development and commercialization responsibility.

• Preclinical APP/PS1 mouse data showed reduced plaque growth, fewer new plaques and plaque regression after 28 days of gamma-secretase modulator treatment.

• NeuroRestore's ACD856 is a Trk positive allosteric modulator that enhances NGF/BDNF signaling; a Phase Ib study had a positive readout in 2026.

• ACD856 is positioned for cognitive disorders, including Alzheimer's, with potential applications across Parkinson's disease, traumatic brain injury, depression and sleep disorders.

Wholly owned pain pipeline

• ACD440 is a topical TRPV1 antagonist in clinical development for neuropathic pain; Phase IIa data showed positive proof of mechanism and ~50% pain reduction, with good topical tolerability.

• ACD440 has orphan drug designation for erythromelalgia in the US and EU, plus positive FDA feedback supporting a Phase II/III pivotal-trial pathway; next trials were in preparation.

• ACD137 is a research-stage, selective TrkA negative allosteric modulator targeting osteoarthritis and other severe pain conditions; its non-opioid mechanism is positioned as an alternative to anti-NGF antibodies.

• ACD137 showed 0.87 nM TrkA potency and 30,300-fold selectivity over TrkB; development focus is advancing toward clinical testing in osteoarthritic pain.