Longeveron (LGVN) Investor presentation summary

Strategic repositioning and leadership

• New CEO Steve Willard appointed in February 2026, bringing experience in billion-dollar valuations and major licensing deals.

• Shift to a capital-light model, prioritizing HLHS Phase 2b data readout in September 2026 to extend operating runway.

• Focus on securing high-value global licensing opportunities for laromestrocel across four indications.

• Completed $30M financing in March 2026 with leading investors.

• Strong scientific leadership and robust IP portfolio with 50+ issued and 60+ pending patents.

Clinical pipeline and indications

• Laromestrocel targets Hypoplastic Left Heart Syndrome (HLHS), Pediatric Dilated Cardiomyopathy (PDCM), Alzheimer's Disease (AD), and Aging-related Frailty (AF).

• HLHS Phase 2b trial fully enrolled; top-line data expected September 2026, with potential for a $200M Priority Review Voucher (PRV) upon BLA approval.

• PDCM program has FDA IND approval for a single Phase 2 registration study, with trial initiation targeted for 2027.

• AD program completed Phase 2a with positive results in brain volume preservation; seeking global partner for Phase 2/3 trial.

• AF program completed Phase 2b, showing improved functional capacity and quality of life in older adults.

Market opportunity and valuation

• HLHS, PDCM, AD, and AF represent multi-billion dollar addressable markets in the U.S. and globally.

• Laromestrocel has five FDA expedited designations, accelerating regulatory pathways.

• Current market cap is under $50M, with a significant value gap compared to peers like Capricor and Mesoblast, which reached $1B+ valuations pre-commercialization.

• PRV eligibility for HLHS could provide a $200M asset, underpinning a valuation floor.

• Recent PRV sales have ranged from $150M to $200M.