Vivani Medical (VANI) Investor presentation summary

Market opportunity and challenges

• Obesity market is rapidly evolving, with over 50 clinical-stage products, but only one subdermal implant in development.

• Poor medication adherence (<50%) and dose fluctuations with current therapies lead to suboptimal outcomes and rapid weight rebound.

• GLP-1 market projected to reach $190B by 2035, with obesity-only TAM at $150B and current U.S. penetration at 6%.

• Market research shows 56% of GLP-1 patients are likely or definitely willing to use an implant if approved and covered.

• Contraceptive implant analog demonstrates commercial viability for long-acting subdermal therapies.

Technology and product pipeline

• NanoPortal technology enables ultra long-acting, miniature drug implants with tunable, near-constant release profiles.

• Lead program NPM-139 is a subdermal semaglutide implant for chronic weight management, with dosing intervals of 6-12 months.

• Pipeline includes next-generation incretin and exenatide implants for obesity, diabetes, and veterinary use.

• Preclinical studies show durable weight loss (-20% sustained for a year) and significant liver fat reduction (82%).

• Prototype implants demonstrate sustained drug delivery and immediate plasma level decline upon removal.

Clinical development and milestones

• LIBERATE-1 first-in-human trial met primary objectives: safety, tolerability, and pharmacokinetics, with no serious adverse events.

• NPM-139 SLIM-1 Phase 1 trial fully enrolled, topline data expected Nov 2026; Phase 2 design underway for 2027.

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

• Phase 1 and 2 studies compare implant to Wegovy® injection, focusing on safety, PK, and dose escalation.

• Cash runway expected to fund operations through 1H2027.