Zealand Pharma (ZEAL) Jefferies 2024 Global Healthcare Conference summary

Company overview and strategic focus

• Focuses 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 treatments.

• Developing differentiated molecules targeting comorbidities and offering new mechanisms of action.

Obesity pipeline and clinical progress

• Lead asset petrelintide, a long-acting amylin analog, shows promising weight loss (5% at 6 weeks) and improved tolerability over GLP-1s.

• Targets 7%-9% weight loss at 16 weeks, aiming for 15%-20% in long-term studies, with less nausea and vomiting than GLP-1s.

• Phase 1b study not optimized for maximal weight loss; higher doses and titration strategies to be explored in Phase IIb starting in the second half of the year.

• Molecule designed to act on both amylin and calcitonin receptors, potentially differentiating it from competitors.

• Neutral pH formulation may allow higher dosing and fewer injection site reactions.

Competitive landscape and partnering strategy

• Competing amylin programs from major pharma focus on different receptor profiles; differentiation based on dual receptor activity.

• Manufacturing scale-up and organizational readiness are priorities ahead of Phase IIb.

• Seeking a committed partner for Phase III and commercialization, prioritizing global reach and manufacturing investment.