Veradermics (MANE) Corporate presentation summary

Market opportunity and unmet need

• Pattern hair loss (PHL) affects about 80 million Americans, with a projected $30B commercial opportunity by 2028, making it the most prevalent chronic dermatological condition in the US.

• Current treatments are fragmented, with high dissatisfaction, poor adherence, and no FDA-approved oral options for women.

• Women represent a significant untapped market, showing higher willingness to treat and greater impact on quality of life.

• Only 9% of patients are satisfied with current treatments, and 46% are actively seeking new options.

• Recent increases in low-dose oral minoxidil prescriptions highlight pent-up demand.

Product profile and clinical differentiation

• VDPHL01 is an extended-release oral minoxidil tablet designed to optimize hair growth efficacy and cardiac safety.

• Demonstrates fast onset (visible results in 2 months), consistent response (>90% PRO at 4 months), and intense effect (47.3 non-vellus hairs/cm² increase).

• Phase 2 data show superior efficacy and visible improvement compared to topical and immediate-release oral minoxidil.

• Generally well-tolerated with no treatment-related serious cardiac or hormonal adverse events to date.

• First potential FDA-approved oral product for PHL in both men and women.

Clinical development and regulatory status

• Three registration-directed trials are ongoing: two in males (Phase 2/3 and confirmatory Phase 3) and one in females (Phase 2/3), with topline readouts expected in 2026.

• Phase 2 open-label study in 43 subjects (21 males, 22 females) demonstrated proof of concept for safety and efficacy.

• Blinded expert review confirmed superior improvement and higher rates of moderate/great improvement versus comparators.