Vicore Pharma (VICO) TD Cowen 46th Annual Health Care Conference summary

Corporate overview and financials

• Publicly listed in Europe with a SEK 300 million market cap and SEK 130 million cash at year-end.

• R&D teams are based in Stockholm, Copenhagen, and the US, with a growing US presence.

• Supported by specialist investors in the US and Europe.

Lead program and pipeline

• Lead asset buloxibutid targets idiopathic pulmonary fibrosis (IPF), currently in Phase 2b.

• Japanese rights licensed to Nippon Shinyaku; other territories remain unencumbered.

• Additional preclinical candidates are advancing for fibrotic and inflammatory diseases.

Market landscape and unmet need

• IPF is a fatal disease with 3–4 year survival post-diagnosis and limited, poorly tolerated therapies.

• Only about 25% of US patients initiate therapy, with a median duration of 10 months.

• IPF market exceeded $4 billion in 2024, projected to surpass $10 billion by 2030.

• Limited late-stage competition; current therapies offer only incremental lung function benefits.