Intervacc (IVACC) DNB Carnegie Micro Cap Day Conference summary

Strategic focus and product innovation

• Lead product Strangvac targets strangles in horses with unprecedented efficacy, leveraging a proprietary platform based on recombinant adhesion proteins for broad immune response.

• PiggyBac, a vaccine for Streptococcus suis in piglets, addresses a major unmet need with no current market alternatives and aims for pan-serotype coverage.

• The company maintains a profitable veterinary portfolio in Scandinavia, complementing its in-house vaccine pipeline.

• Recent management hires strengthen clinical, production, and commercial capabilities, supporting expansion and operational execution.

• Listed on First North, with a market cap near SEK 400 million and SEK 127 million in cash as of Q2.

Market development and regulatory progress

• Strangvac is sold in Europe, with relaunches in France and Germany planned for July, and strong growth in Sweden (100%+ sales increase).

• U.K. is the top European market, partnered with Dechra; U.S. pivotal trials are ongoing, with regulatory completion targeted for Q1 next year.

• Label change submitted to allow annual revaccination, aligning with standard horse vaccination schedules and expected to drive adoption.

• Key opinion leaders in Sweden and U.K. are driving guideline inclusion and awareness, with similar efforts expanding in France, Germany, and the U.S.

• U.S. market entry is seen as a major catalyst, with high awareness and vaccination rates among horse owners.

Efficacy, safety, and competitive landscape

• Strangvac demonstrates 94% protection in challenge studies and 100% in many field studies, with strong safety and tolerability.

• PiggyBac shows robust protection against key serotypes, with ongoing studies to confirm pan-serotype efficacy.

• Competing vaccines for strangles in the U.S. have safety and efficacy limitations; PiggyBac's main competitor targets only one serotype.

• Real-world outbreak data supports high efficacy, and regulatory authorities in the U.S. have responded positively to safety data.

• Risks remain in efficacy studies due to variability in challenge models, but strong European and real-world data support regulatory prospects.