Voyager Therapeutics, Inc. · NASDAQ:VYGR
Voyager Therapeutics — Investor Presentation (January 2026)
29 slides from Voyager Therapeutics's investor presentation, Jan 8, 2026
Slide 1: Leveraging Genetics to Treat Neurological Diseases
Leveraging Genetics to Treat Neurological Diseases Corporate Deck / January 2026
Slide 2: Forward-Looking Statements
2 | Forward - Looking Statements This presentation contains forward - looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws . The use of words such as “anticipate,” “expect,” “believe,” “plan,” “
Slide 3: Voyager 2026 Investment Rationale
3 | Voyager (NASDAQ: VYGR) 2026 Investment Rationale Validating brain - targeted capsids in humans Transformative year for tau, with two s hots on goal Demonstrating the value of Voyager NeuroShuttle 1 Based on our current operating plans, cash and cash equivalents and marketable securities as of Se
Slide 4: Multi-Modality CNS Pipeline with High Potential Value
4 | Multi - Modality CNS Pipeline with High Potential Value Approved Pivotal Phase I/II IND - Enabling Research Mechanism / Indication VY7523 (Anti - tau Antibody) / Alzheimer’s Disease VY1706 (Tau Silencing Gene Therapy) (siRNA) / Alzheimer’s Disease APOE Gene Therapy / Alzheimer’s Disease ALPL - V
Slide 5: Transformative Year for Tau – Voyager Has Two Approaches
Transformative Year for Tau – Voyager Has Two Approaches 5 |
Slide 6: Tau Critical in Alzheimer's Disease; Two Ways to Target
6 | Tau Critical in Alzheimer’s Disease; Two Ways to Target Braak Staging: Adapted from Jouanne M, Rault S, Voisin - Chiret AS. Eur J Med Chem. 2017 Oct 20;139:153 - 167. Spread of Pathological Tau Corresponds to Alzheimer’s Disease Progression Tau Spread = Disease Worsening Two Approaches to Target
Slide 7: VY1706: Expect to Dose First Patient this Year
Voyager AAV9 ~30 - fold decrease relative to similar AAV9 dose Vector Genome Copies per Diploid Genome VY1706: Expect to Dose First Patient this Year VY1706 = tau - targeted miRNA + IV - delivered, BBB - targeted AAV capsid 7 | EXPECTED NEXT STEPS: • Complete GLP toxicology study Q1 ’26 • File IND Q
Slide 8: BIIB080 Sets Expectations for Tau Knockdown Approach
1 DeVos, et.al. Science Translational Medicine. 2017. 2 Exploratory clinical outcomes from BIIB080 (MAPT ASO) phase 1b multiple ascending dose and long - term extension study in mild Al zheimer’s disease. N. Ziogas, et al. 3 Budd Haeberlein et al. J Prev Alz Dis 2022, 4 Van Dyck et al. NEJM 2023. *
Slide 9: VY7523: Tau PET Imaging Data in AD Patients Expected H2 2026
9 | VY7523: Tau PET Imaging Data in AD Patients Expected H2 2026 VY7523 single ascending dose (SAD) trial: • 48 healthy volunteers • No serious/severe adverse events or infusion reactions reported • Half - life supports monthly dosing • Serum concentrations increased in dose - proportionate manner;
Slide 10: VY7523 Differentiated from Other Anti-Tau Antibodies
VY7523 Differentiated from Other Anti - Tau Antibodies VY7523 = antibody targeting epitope in C - terminal, highly specific for pathological tau 10 | Epitope Matters 1,2,3 : Pathological Specificity May Matter: 1. Davidson, R.; Krider, R.I.; Borsellino, P.; Noorda, K.; Alhwayek , G.; Vida, T.A. Unta
Slide 11: VY7523: P301S Data Differentiate from Posdinemab, Bepranemab
11 | VY7523: P301S Data Differentiate from Posdinemab , Bepranemab VYGR reduces tau spread; N - terminal antibody does not P301S murine model; all antibodies represent murine versions. Ab - 01 is murine VY7523; IPN002 is murine BIIB092; Ab - D is murine bepranemab ; huAb2 is a murinized research ant
Slide 12: Validating Brain-Targeted Capsids in Humans
Validating Brain - Targeted Capsids in Humans 12 |
Slide 13: Establishing Novel Capsid Proof-of-Concept in Humans
13 | Establishing Novel Capsid Proof - of - Concept in Humans STEP 1: Safety STEP 2. Delivery to Brain STEP 3. Tau Impact Determine if dosing in first few patients warrants continuation DERISKING: x Low doses / liver de - targeting o GLP tox in NHP o Potential for initial dosing in more advanced pat
Slide 14: Leading Indications for 2026 Gene Therapy Trials
14 | Leading Indications for 2026 Gene Therapy Trials Alzheimer’s Disease Impacts approximately 7M Americans and is expected to impact nearly 13M by 2050 1 • Initial anti - amyloid antibodies approved; tau targeting likely to be necessary once tau spread begins 2 • Currently no tau - targeted treatm
Slide 15: TRACER-Derived Capsids to Power Next-Gen Gene Therapy
TRACER capsid discovery platform derived from evaluation of 200M+ variants of AAV5 and AAV9 TRACER - Derived Capsids to Power Next - Gen Gene Therapy 15 | VCAP - Gen2: 50 - 75% of Cells Transduced Across Diverse Brain Regions at 3E13 vg/kg (ASGCT 2024) Gen2 Capsids: Increased Brain Tropism and Liver
Slide 16: Voyager NeuroShuttle Nonviral Platform
Voyager NeuroShuttle Nonviral Platform 16 |
Slide 17: VYGR-NeuroShuttle: Next-Gen Approach to Neurotherapeutics
17 | VYGR - NeuroShuttle : Next - Gen Approach to Neurotherapeutics TRACER AAV capsid discovery platform ALPL - VYGR - NeuroShuttle Handful of additional receptors identified Potential to deliver a diversity of therapeutic modalities: • Antibodies • Enzymes • Genome editors • ASOs • siRNAs • Peptide
Slide 18: ALPL-VYGR-NeuroShuttle Demonstrates Sustained Brain Exposures
Proof of concept murine data 1 show sustained CNS exposure for ALPL versus TfR shuttles ALPL - VYGR - NeuroShuttle Demonstrates Sustained Brain Exposures • Increased antibody concentration in brain; modest impact on peripheral clearance 18 | 1. Voyager data on file. Brain PK
Slide 19: ALPL-VYGR-NeuroShuttle: Broad Biodistribution Including Neurons
19 | ALPL - VYGR - NeuroShuttle : Broad Biodistribution Including Neurons Anti - human IgG DAPI Anti - human IgG DAPI Anti - human IgG NeuN DAPI Colocalization of shuttle and neurons seen across brain regions in mouse including cerebral cortex Greater parenchymal distribution observed with shuttle v
Slide 20: ALPL-VYGR-NeuroShuttle Does Not Impact Reticulocytes
20 | ALPL - VYGR - NeuroShuttle Does Not Impact Reticulocytes 1. Voyager data on file. 2. Goettsch et al. Cardiovascular Research. 2022. 118:84 - 96. 3. Farman MR, et. al., The ALPL gene variant project: results of the f irst 100 reclassified variants. JBMR Plus. 2025 Mar 17;9(6):ziaf044. doi : 10.1
Slide 21: Anti-Amyloid Antibody as Proof-of-Concept: ALPL-Shuttled Target Engagement
Anti - Amyloid Antibody as Proof - of - Concept: ALPL - Shuttled Shows Target Engagement Similar to TfR - Shuttled DAPI hIgG Aβ Day 3 Day 14 AMY/ALPL bispecific AMY/ TfR bispecific AMY • AMY/ALPL bispecific shows continued uptake in brain between d3 and d14 and is localized to amyloid plaques • AMY/
Slide 22: AMY-ALPL Plaque Binding Similar to AMY-TfR After Single IV Dose
22 | AMY - ALPL Plaque Binding Similar to AMY - TfR After Single IV Dose % hIgG + plaque area (whole brain) • Both ALPL and TfR groups show greater % hIgG + plaque area vs. un - shuttled AMY at d14 • Clear increase in % hIgG + plaque area observed from d3 to d14 in AMY/ALPL groups AMY AMY/ALPL AMY/
Slide 23: Market + Acquirers Appreciate Shuttle Opportunity and Value
23 | Market + Acquirers Appreciate Shuttle Opportunity and Value Multiple potential opportunities for Voyager’s NeuroShuttle platform to create value: • Increase efficacy by increasing on - target delivery • Improve safety by reducing peripheral exposure • Lower COGS by reducing dose needed • Expand
Slide 24: Business
Business voyager therapeutics
Slide 25: BD Opportunities to Transform Treatment of CNS Diseases
25 | Alzheimer’s Franchise » Tau antibody (Ph 1/2) » Tau gene therapy (IND/Clinic 2026) » APOE gene therapy Rare Neurogenetic Diseases » Out - licensing capsids for rare CNS targets » In - licensing early - stage assets for non - GTX targets CNS Delivery » IV TRACER gene therapies moving toward clin
Slide 26: Partnerships Have Brought $500M+; Potential for Another $6.8B
26 | Partnerships Have Brought $500M+; Potential for Another $6.8B Tiered Royalties Potential Sales Milestone Payments 1 Potential Development Milestone Payments 1 Upfront / Option / License Payments Patients Impacted (U.S.) Disease/Target NBIX1 : U.S. high - single - digit to high - teens; ex - U.S
Slide 27: Management Team: Extensive Neurology Expertise
27 | Management Team: Extensive Neurology Expertise Trista Morrison Chief Corporate Affairs Officer, Chief of Staff to CEO Todd Carter, Ph.D. Chief Scientific Officer Robin Swartz Chief Business Officer, Chief Operating Officer Al Sandrock , M.D., Ph.D. Chief Executive Officer Toby Ferguson, M.D. Ch
Slide 28: Recent Achievements and Upcoming Milestones Anticipated
Recent Achievements and Upcoming Milestones Anticipated Voyager NeuroShuttle unveiled; ALPL - VYGR - NeuroShuttle program advanced into pipeline Q3 2025 Enrollment complete in VY7523 (anti - tau antibody) multiple ascending dose trial in AD patients Q4 2025 Complete GLP toxicology study with VY1706
Slide 29: Thank You
Thank You www.voyagertherapeutics.com
Voyager Therapeutics — Investor Presentation (January 2026) on 6ix