Zealand Pharma (ZEAL) investor relations material

Strategic vision and market opportunity

• Aims to become a generational biotech shaping obesity and metabolic health, leveraging 25+ years of peptide expertise, AI-driven innovation, and a robust culture of accountability and patient-centricity.

• Sees obesity as a civilization-scale crisis, with projections that half the global population will be overweight or obese by 2030, and only 3% of eligible U.S. patients currently treated with GLP-1s.

• Metabolic Frontier 2030 strategy targets five product launches and over ten clinical programs by 2030, aiming for industry-leading cycle times and world-class pipeline.

• Commercial strategy targets both prescriber-driven and consumer-driven segments, focusing on patient experience, tolerability, and long-term adherence.

• Expanding R&D capabilities in Copenhagen and Boston, integrating AI, automation, and next-generation molecule creation.

Pipeline and clinical development

• Survodutide, a GLP-1/glucagon dual agonist, is in Phase 3 for obesity and MASH, showing up to 18.7% weight loss and breakthrough liver fibrosis improvement, with pivotal data expected in 2026.

• Petrelintide, a long-acting amylin analog, demonstrates strong weight loss and tolerability in early trials, with Phase 2 data expected in Q1 2026 and Phase 3 initiation in H2 2026.

• Fixed-dose combinations (petrelintide + CT388) and multi-hormone approaches are in development to optimize efficacy and minimize adverse effects, with combination trials starting in H1 2026.

• Early pipeline includes next-generation peptides, oral and long-acting amylin analogs, weight-independent insulin sensitizers, and assets for congenital hyperinsulinism and short bowel syndrome.

• More than ten drug candidates have entered clinical development, with two products on the market and three in late-stage development.

Market and unmet needs

• Obesity is projected to affect 50% of adults globally by 2030, with current therapies facing challenges in persistence, tolerability, and real-world efficacy.

• Amylin analogs like petrelintide offer potential for durable weight loss, improved tolerability, and restoration of leptin sensitivity.

• MASH remains a major unmet need, with survodutide showing best-in-disease potential in Phase 2 trials.

• Strategy includes multiple waves of innovation to surpass current medicine adherence rates and deliver a world-class pipeline.