Zealand Pharma (ZEAL) Jefferies 2024 Global Healthcare Conference summary

Company overview and strategic focus

• Focuses exclusively on peptide drug discovery and development, with 25 years of experience and a track record of bringing products to market.

• Emphasizes the need for alternatives to GLP-1-based obesity therapies due to tolerability issues and lack of diversity in current treatment options.

• Developing differentiated molecules targeting comorbidities and offering alternatives to existing classes.

Obesity drug development landscape

• Obesity treatments have evolved from diabetes drugs, with increasing focus on clinically meaningful weight loss and addressing comorbidities.

• Industry is shifting from maximizing weight loss to tailoring therapies for specific patient needs and comorbidities.

• Alternatives to GLP-1s are needed as many patients discontinue due to side effects.

Amylin program (petrelintide)

• Long-acting amylin analogs show promising weight loss (5% at 6 weeks, aiming for 7–9% at 16 weeks), with potential for 15–20% in long-term studies.

• Demonstrates fewer tolerability issues (less nausea/vomiting) compared to GLP-1s, with a different mechanism focused on satiety.

• Molecule is active on both amylin and calcitonin receptors, potentially enhancing weight loss efficacy.

• Neutral pH formulation may allow higher dosing and better bioavailability, with no injection site reactions observed.

• Phase IIb study planned for the second half of the year, with manufacturing scale-up underway.