Vicore Pharma (VICO) Stifel 2024 Healthcare Conference summary

Company overview and financial position

• Focused on modulating the angiotensin II type II receptor for IPF therapy, with expertise in biology and chemistry of this pathway.

• Listed on the Stockholm Exchange, with a $200 million market cap and $125 million cash after an $85 million financing round.

• Most cash allocated to advancing Buloxibutid into a phase IIb trial for IPF.

• Current pharma partnership with Nippon Shinyaku for Japanese rights; Sanofi invested in recent financing but without rights.

• Cash runway extends through phase IIb readout plus an additional year.

Lead program and clinical data

• Buloxibutid targets IPF via an upstream mechanism, aiming to repair fibrosis and improve lung function.

• Phase IIa data showed a mean lung function improvement of 216 mL over nine months, with a favorable safety profile and minimal GI side effects.

• 65% of patients improved lung function; results robust to outliers and consistent across subpopulations.

• Biomarker data showed decreased TGF beta-1 and increased collagenase MMP-13, supporting the mechanism.

• Phase IIb is a 270-patient, placebo-controlled trial with regulatory endpoints, including patients on and off standard of care.

Mechanism of action and disease context

• Agonizes AT2 receptors on alveolar epithelial type II cells, promoting tissue repair, surfactant production, and reducing fibrosis.

• Addresses epithelial injury, fibrotic buildup, and vascular dysfunction in IPF.

• Mechanism shown to reduce TGF beta-1, upregulate collagenase MMPs, and improve endothelial function.

• IPF characterized by high unmet need, poor prognosis, and limited patient uptake of current therapies.