Medivir (MVIR) DNB Nordic Healthcare Conference presentation summary

Market opportunity and disease landscape

• 45% of US adults are obese, with over 25% having fatty liver disease, which increases liver cancer risk 17-fold.

• Global 2nd line HCC market projected to grow from $1.3bn in 2024 to $4.0bn by 2030, driven by rising HCC incidence and improved 1st line treatments.

• By 2030, HCC cases expected to increase by 122% in the US and 82% in China, with average treatment duration rising to 7–10 months.

Product profile and clinical innovation

• Fostrox is the first oral, liver-targeted treatment for advanced HCC, designed to selectively kill tumor cells while sparing healthy liver cells.

• Utilizes a prodrug mechanism for liver-guided delivery and tumor-selective payload activation.

• Demonstrates efficacy substantially better than current treatments, with a median TTP of 10.9 months in combination with Lenvima.

Clinical data and competitive positioning

• In phase 1b/2a, fostrox + Lenvima showed median TTP of 10.9 months, ORR of 24%, and DCR of 81%, outperforming Lenvima monotherapy and other 2L HCC treatments.

• Stable liver function observed during treatment, with favorable ALT, AST, and ALBI score profiles.

• No approved 2nd line treatments for HCC, with fostrox + Lenvima at the forefront of a weak competitive landscape.