Vivani Medical (VANI) Investor presentation summary

Business focus and market opportunity

• NanoPortal implants are designed for very infrequent dosing, including every 6 months, 12 months, or longer; NPM-139 is a subdermal semaglutide implant for chronic weight management.

• FDA-approved GLP-1 products generated $132B in global sales in 2025; the weight-loss market is projected to grow at a 131% CAGR.

• Global GLP-1 market estimated at $190B by 2035, including an obesity-only TAM of $150B; U.S. eligible-patient penetration estimated at 6%.

• Real-world data cited show >50% of patients regularly miss doses, >50% discontinue by year 1, and ~75% by year 2.

• Market research found 56% of current GLP-1 patients likely or definitely interested in an implant if FDA-approved, prescriber-recommended, and insurance-covered; prescribers rated likelihood to prescribe 8.3/10.

NanoPortal platform and preclinical evidence

• NanoPortal nanotube pore size is tunable to support near-constant drug release; implant insertion is designed as an in-office procedure for once- or twice-yearly dosing.

• Preclinical NPM-139 data showed ~20% weight loss sustained for a full year; semaglutide remained measurable through 364 days in a rat study.

• A preclinical exenatide implant study reported an 82% reduction in liver fat in high-fat-diet-induced obese mice after 12 weeks.

• NanoPortal retatrutide implant showed steady preclinical pharmacokinetics in an ongoing rat study.

Clinical progress and milestones

• LIBERATE-1 met primary safety, tolerability, and pharmacokinetic objectives; no serious adverse events or clinically meaningful initial burst or dose dumping were reported.

• SLIM-1, a Phase 1 NPM-139 study, was fully enrolled and all patients were dosed; topline results were projected for November 2026.

• SLIM-1 evaluates safety, tolerability, and pharmacokinetics over 4 weeks, comparing NPM-139 with weekly Wegovy in otherwise healthy adults with overweight or obesity.

• A Phase 2 dose-ranging study is planned for 2027; the proposed SLIM-2 design includes implant dose arms, placebo, and weekly Wegovy comparator.

• Novo Nordisk agreement to evaluate NPM-139 was announced in July 2026.