Annexin Pharmaceuticals (ANNX) Investing in Life Science 2026 summary

Company overview and clinical focus

• Based in Stockholm with a small core team and collaborations in the UK.

• Focuses on Annexin, an endogenous protein (Annexin A5), to regulate harmful phospholipid signaling in cells.

• Clinical-stage with completed phase I and IIa studies in the US; ongoing phase IIa NEXUS study in the UK and Germany.

• Main therapeutic area is ophthalmology, targeting retinal vein occlusion (RVO) and diabetic retinopathy.

• Seeking licensing partners, primarily in the US, but also in Asia and Europe.

Disease background and treatment landscape

• RVO and diabetic retinopathy are major causes of vision loss, both involving vascular dysfunction and inflammation in the retina.

• Standard care involves repeated intraocular anti-VEGF injections, averaging five times per six months in the US.

• Annexin is administered intravenously, aiming to reduce treatment burden and improve patient comfort.

• Both diseases represent large markets, each with approximately 20 million addressable patients globally.

• Annual cost for anti-VEGF therapy in the US is about $15,000 per patient.

Clinical data and differentiation

• Annexin aims to seal small capillaries and improve endothelial function, addressing the root cause of ischemia.

• NEXUS study shows sustained improvement in retinal blood flow for 15 days or longer after treatment.

• Unique data presented, including improved perfusion in diabetic retinopathy and RVO, not previously observed.

• Some patients report rapid relief of neuropathic pain and stable disease post-treatment.

• Safety profile is favorable, with no drug-related adverse events in about 25 patients treated.