Vicore Pharma (VICO) Investor update summary

Strategic Focus and Clinical Development

• Advancing buloxibutid as a potentially transformational therapy for IPF, targeting disease origin and tissue repair in alveolar epithelial cells.

• Phase IIa data showed a mean FVC increase of +216 ml at 36 weeks, with 65% of patients improving and a strong safety/tolerability profile.

• Biomarker analysis indicated both reduction in new fibrosis and resolution of existing fibrosis, supporting disease-modifying potential.

• Buloxibutid (C21) is a first-in-class ATRAG, showing durable lung function improvement and safety in phase IIa IPF trials.

Phase IIb ASPIRE Trial Design and Execution

• ASPIRE is a randomized, double-blind, placebo-controlled, multicenter trial for IPF, enrolling 270 patients across three arms and 14 countries, with a 52-week treatment duration.

• The primary endpoint is change from baseline in FVC at 52 weeks; key secondary endpoint is the proportion of participants with disease progression.

• Patient-friendly approach includes reduced in-person visits, virtual check-ins, and dose response testing at 100 mg and 50 mg twice daily.

• Regulatory approvals obtained, with US sites activated first and global enrollment planned at over 90 clinical sites.

• Enrollment targeted by end of 2025, with results expected about a year later; ongoing news flow anticipated from early-stage programs and translational data.

Rights Issue Details and Financing Update

• SEK 782 million rights issue launched, offering one new share per existing share at SEK 7.00 each, with a 1:1 subscription ratio.

• 80% of the issue (SEK 626 million) is committed by shareholders and guarantors, with 49.7% subscribed by existing shareholders and management.

• Subscription period runs from 20 September to 4 October 2024; record date is 17/18 September 2024.

• Proceeds will fund the expanded phase IIb ASPIRE trial, phase III preparations, ATRAG platform development, and extend the cash runway to H1 2028.

• If fully subscribed, the number of shares will double, diluting non-participating shareholders by up to 50%.