Vicore Pharma (VICO) Company presentation summary

Strategic vision and market positioning

• Aims to transform patient outcomes by targeting the AT2 receptor to halt and reverse disease pathology, focusing on idiopathic pulmonary fibrosis (IPF).

• Dual-listed on Nasdaq Stockholm and Nasdaq US, with a $328M market cap and $93M in financial reserves as of mid-2026.

• IPF represents a large, growing market with high unmet need, projected to exceed $10B globally by 2030-33.

• Partnership with Nippon Shinyaku in Japan includes $10M upfront, up to $275M in milestones, and tiered royalties.

Lead program: buloxibutid clinical and preclinical profile

• Buloxibutid is an oral, selective AT2 receptor agonist with Orphan Drug and Fast Track designations, in a global Phase 2b trial (ASPIRE) for IPF.

• Demonstrated favorable tolerability and safety in over 350 patients across nine trials, with only mild, reversible hair loss as a notable side effect.

• Phase 2a AIR trial showed mean FVC improvement of +216 mL at 36 weeks, with benefit across all subgroups.

• Synthetic control arm analysis confirmed a statistically significant treatment effect versus matched controls.

• Buloxibutid’s mechanism targets tissue repair, anti-inflammatory, anti-fibrotic, and vascular remodeling pathways.

Competitive landscape and differentiation

• Existing IPF therapies offer only modest slowing of disease progression, with significant side effects and no proven quality of life benefit.

• Buloxibutid offers a differentiated profile: oral dosing, improved efficacy, favorable tolerability, and combinability with other therapies.

• Outperformed historical standard of care and untreated decline in lung function at 36 weeks.

• Positioned as the most advanced IPF therapy in global development after recently approved and late-stage competitors.