Vicore Pharma (VICO) 44th Annual J.P. Morgan Healthcare Conference summary

Company overview and strategic focus

• Swedish-listed company with $380M market cap and $140M cash as of Q3, expanding US presence.

• Focused on angiotensin II pathway, specifically activating the AT2 receptor for idiopathic pulmonary fibrosis (IPF).

• Lead program targets IPF, a rare disease with high mortality and limited current treatment options.

• Preclinical work continues on additional molecules in the same biology space.

Market landscape and unmet needs

• IPF affects 150,000 in the US and 3 million globally; current therapies only modestly slow disease progression.

• Standard of care has significant GI side effects, leading to low uptake and high discontinuation rates.

• Despite limitations, 2024 sales for current therapies exceed $4B, projected to surpass $10B by 2030-2033.

• New therapies are needed for better efficacy and tolerability.

Drug candidate and mechanism of action

• Buloxibutid is an oral, twice-daily drug with a unique mechanism: AT2 receptor agonism.

• Demonstrated unprecedented improvement in lung function in phase II-A studies.

• Mechanism aims to repair lung injury, restore alveolar function, and resolve fibrosis, not just block fibrotic cascade.

• Addresses multiple disease compartments: epithelial, fibrotic, and vascular.