Zealand Pharma (ZEAL) 44th Annual J.P. Morgan Healthcare Conference summary

Strategic vision and ambitions

• Launched Metabolic Frontier 2030 strategy to address obesity and related diseases, aiming to become a generational biotech leader in metabolic health by 2030.

• Plans to launch significant new medicines, including Survodutide (with Boehringer Ingelheim) and petrelintide (with Roche), targeting obesity and metabolic disorders.

• Committed to building the world's most valuable metabolic health pipeline, leveraging over 25 years of proprietary data and integrating AI and machine learning for innovation.

• Maintains strong partnerships with Roche and Boehringer Ingelheim for co-development and commercialization of key assets.

• Financially strong with over DKK 2.5 billion in cash and more than $1.2 billion in near-term milestones, supporting the journey to profitability.

Pipeline and clinical milestones

• Expects five product launches in the next five years, focusing on obesity, rare diseases, and inflammation.

• Multiple clinical data readouts expected in 2024, including pivotal phase II data for petrelintide and phase III data for Survodutide.

• Petrelintide Phase 2 ZUPREME-1 topline results anticipated in Q1 2026, with Phase 3 initiation in H2 2026.

• Survodutide Phase 3 obesity program results may enable regulatory submissions in 2026.

• Early pipeline progress includes near-term data from a Kv1.3 inhibitor for autoimmune diseases and the establishment of a Boston research hub by mid-year.

Market insights and unmet needs

• Obesity is described as the largest healthcare challenge, with over five million annual deaths attributed to its long-term consequences.

• Only ~3% of eligible U.S. patients use GLP-1 therapies, with real-world efficacy lower than clinical trial results and GI side effects a leading cause of discontinuation.

• Over 80% of GLP-1 users desire up to 20% weight loss, highlighting a gap in current therapies.

• Obesity treatment options lag behind other chronic diseases, with only one main drug class currently available.

• There is a need for more individualized and tolerable therapies, as most patients discontinue current treatments before achieving sustained health benefits.