Summary of Alzinova Conference Call - September 01, 2025 Company Overview - **Company**: Alzinova - **Industry**: Biotechnology focused on Alzheimer's disease - **Founded**: 2011 - **Headquarters**: Gothenburg, Sweden - **Market Cap**: $160 million - **Listing**: Nasdaq First North - **Shareholders**: Approximately 4,500 Key Points and Arguments Alzheimer's Disease Market - Approximately 50-55 million people globally live with Alzheimer's disease, expected to double to over 100 million in the next 25 years [2][3] - The cost of Alzheimer's care in the USA is around $700 billion annually [2] - The market for Alzheimer's treatments is growing at a rate of 8-12% due to new drug introductions and improved diagnostic methods [2][3] Product Pipeline - Alzinova is developing two main products: - **ALZ101**: A therapeutic vaccine entering Phase 2 trials - **ALZ201**: An antibody targeting the same mechanism, currently in preclinical stages [3][4] - The company aims to provide a cost-effective treatment, estimating annual treatment costs of around $300 compared to $15,000 for current intravenous therapies [4][5] Treatment Approach - Current treatments focus on amyloid beta plaques, while Alzinova targets amyloid beta 42 oligomers, which are toxic to neurons [7][8] - The therapeutic vaccine aims to stimulate the body’s immune response to produce antibodies against these oligomers, potentially leading to long-term immunity [8][9] Phase 1B Study Results - The Phase 1B study involved 26 patients with mild cognitive impairment or mild Alzheimer's disease [10][12] - Safety and tolerability were confirmed, with injection site reactions being the only noted side effect [12] - Over 95% of patients developed a robust immune response, indicating potential for immunological memory [12][13] - Cognitive assessments showed a positive trend, with patients not deteriorating during the study [14][15] Future Plans - Alzinova is preparing to initiate Phase 2 trials, aiming to recruit 240 patients [28][29] - The company is in discussions with potential partners for collaboration and funding [18][24] - Milestones include IND submissions to FDA and EMA, with hopes to start patient recruitment by early next year [17][19] Competitive Landscape - Alzinova's focus on oligomers differentiates it from competitors primarily targeting amyloid plaques [20][31] - The company believes it has a first-in-class approach, with no other companies currently working on similar oligomer-targeting vaccines [20] Investment Opportunity - The upcoming Phase 2 study and interim readout in 2027 present significant investment opportunities [32] - The company emphasizes the potential for both therapeutic and prophylactic applications of its vaccine [20][32] Additional Important Information - Alzinova is collaborating with Worldwide Clinical Trials, which has extensive experience in Alzheimer's studies [17] - The company is also developing its intellectual property strategy to strengthen its market position [17] - The presence of naturally occurring antibodies in healthy older adults suggests a potential immunodeficiency in Alzheimer's patients, which the vaccine could address [15][16]