Vivani Medical, Inc. · NASDAQ:VANI
Vivani Medical — Q2 2025 Earnings Presentation
35 slides from Vivani Medical's earnings presentation, Aug 13, 2025
Slide 1: August 2025
August 2025
Slide 2: Disclaimers
Disclaimers The following slides and any accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the "safe ha
Slide 3: Vivani Executive Leadership Team
Vivani Executive Leadership Team Adam Mendelsohn PhD - CEO/Director * Co-founder/Co-inventor of Vivani technology PhD Bioengineering (UCSF/UC Berkeley) ) + Management of Technology Certificate at Haas School of Business Research focused on diabetes treatment Formerly at Boston Scientific and Minimed
Slide 4: Vivani Headquarters and GMP Manufacturing Facility
Vivani Headquarters and GMP Manufacturing Facility 1350 S. Loop Road, Alameda, California since 2023
Slide 5: Vivani Medical, Inc.
Vivani Medical, Inc. Innovative, clinical-stage biopharmaceutical company developing a portfolio of ultra long- G) acting, miniature, drug implants to treat chronic diseases. NanoPortal™ platform technology enables the design of implants aimed at improving medication non-adherence and tolerability.
Slide 6: Company Pipeline
Company Pipeline If Approved, Vivani Products will Compete in Markets with Large Potential Indication Feasibility Pre-Clinical Clinical Market Size** NPM-139* semaglutide NPM-115 high-dose exenatide NPM-119 exenatide OKV-119*** exenatide *Feasibility recently established with semaglutide, supporting
Slide 7: Drug Implants
Drug Implants Proprietary Platform Technology
Slide 8: GLP-1 Implant and Applicator
GLP-1 Implant and Applicator Drug Reservoir NanoPortal’. Approximate size of implant expected for type 2 diabetes indication oCe Vivani
Slide 9: Reservoir
Reservoir ™ Drug Reservoir Nanotube Titania Nanotube Layer Membrane (grown from titanium surface) Pure Titanium
Slide 10: NanoPortal™ How it Works
NanoPortal™ How it Works... By precisely adjusting the nanotube pore size to slightly greater than the size of specific drug molecules, the interactions between the drug and nanotube walls can result in desirable release profiles over time, including near constant release e Pore too small: Pore targ
Slide 11: Minimal Fluctuations with 2.5-hour interval sampling
Minimal Fluctuations with 2.5-hour interval sampling —High Dose, n=6 —— Low Dose, n=6 Individual Release Profiles (n=6) 120 T T T T T 120 $3 x 100 ~ = : A fc] 3 > oD = sol — g g 4 iid @ 60} o a ao by J 2 2 a © 40 ho © alk J ° g g > 20 > gs PF 5 207 4 tt 0) 30 60 90 120 150 98.0 98.5 99.0 99.5 100.0
Slide 12: NanoPortal™ is a Platform Technology
NanoPortal™ is a Platform Technology Broad Potential Application Can Support Portfolio of New Drug Implants » Minimized Implant Size » Extendable Implant Duration » Tunable Delivery Rate ( » Tunable Delivery Profile }
Slide 13: Current Drug Adherence Challenge
Current Drug Adherence Challenge "Drugs don't work in people that don't take them" NanoPortal Implants Designed to Enable 100% Adherence * Orals and injectables + Approximately 50% of patients do not meet glycemic targets primarily due to nonadherence Dual Incentive to Adopt Technology that Improves
Slide 14: Patient research indicates strong adoption potential for a miniature, 6-month GLP-1 implant
Patient research indicates strong adoption potential for a miniature, 6-month GLP-1 implant PWD sentiment towards the ITCA 650 concept is more strongly positive amongst those who are currently on a GLP-1 RA or who have taken one in the past. Likelihood of getting ITCA 650 exenatide implant if FDA-ap
Slide 15: Prescriber and Payer research also provide strong support
Prescriber and Payer research also provide strong support for a miniature, 6-month GLP-1 implant Prescribing Rating, Average 8.3 out of 10 Adherence = Lower Acute Care & Outpatient Costs Rating: Overall, using a scale of 1 to 10, where 1 is not at all likely and 10 _ . is extremely likely, how likel
Slide 16: Better adherence is expected to improve GLP-1 effectiveness and tolerability
Better adherence is expected to improve GLP-1 effectiveness and tolerability Medication non-adherence and tolerability are significant unmet needs for GLP-1 treatments Adherence/Persistence to GLP-1s is suboptimal, at only ~30-40% adherent patients during == year one and ~36-47% persistence by end o
Slide 17: Vivani Lead Program: NPM-139
Vivani Lead Program NPM-139 Semaglutide Implant for Chronic Weight Management Targeting the Rapidly Growing GLP-1 RA Market
Slide 18: Semaglutide products generated ~$25B in sales in 2024
* Semaglutide products Ozempic®, Wegovy® and Rybelsus® generated ~$25B in sales in 2024 * More than half of patients regularly miss doses based on real-world adherence data * NPM-1339 is initially being designed for once or twice-yearly dosing. ¢ In addition to obesity, the semaglutide implant is al
Slide 19: Weight Loss Medicines Associated With Adherence Challenges
Weight Loss Medicines Associated With Adherence Challenges Recent retrospective cohort study (n=1,911) reported improved medication persistence with semaglutide of 40% after one year * The remaining opportunity for an additional 60% improvement in persistence is significant and will translate to imp
Slide 20: Weight vs Control (%) preclinical
0.0 -5.0 -10.0 -15.0 -20.0 -25.0 1 wo = ° -35.0 AWeight vs Control (%) I EN [=) °o -45.0 -50.0 Day 21 Day84 Day168 Day210 Day 231 n=16 n=12 n=8 n=4 n=4 Weight difference versus control group in healthy Spragi wiley rats. % weight change from baseline for NPM-139 (semaglutide implant) corrected to
Slide 21: Weight difference versus control group in rats
T T T T T T T T T |_ —m~ Sham (Control), n=3 —@-NPM-139, n=4 nN S o T 1 ° a s = ° =] < ° oO 9 > 2 = AW -50 L L L 1 L n Ll 1 L 0 25 50 75 100 125 150 175 200 225 Time (Days) Weight difference versus control group in healthy Sprague-Dawley rats out to 231 days. % weight change from baseline for NPM-13
Slide 22: NPM-139 Clinical + Regulatory Development
NPM-139 Clinical + Regulatory Development Near-Term Plan Announced LIBERATE-1 Completed and Met All Primary Study Objectives August 2025 Reported Positive Weight Loss in Preclinical Study with NPM-139, a novel August 2025 semaglutide implant Design, Develop and Manufacture NPM-139 Clinical Configura
Slide 23: Vivani Program: NPM-115
Vivani Program NPM-115 High-Dose Exenatide Implant for Chronic Weight Management Targeting the Rapidly Growing GLP-1 RA Market
Slide 24: Tremendous unmet medical need in Obesity
* Tremendous unmet medical need in Obesity’: ¢ 934M people living with obesity * < 1% taking a branded anti-obesity drug ¢ GLP-1 monotherapy may provide adequate weight loss for the majority of patients * Preclinical data with NPM-115 has demonstrated similar magnitude of weight loss for exenatide a
Slide 25: Exenatide Plasma Concentration
700 = Ny EN [=] o Exenatide Plasma Conc. Normalized to 250 g Rats (ng/mL) eo Implants removed \ Expected Exenatide Plasma Conc. in 85 kg Human (pg/mL) m ¥OS *e & o 0 30 60 90 120 150 Time (Days) Pharmacokinetics of 6-month exenatide implant in male Sprague-Dawley rats (n=6) Exenatide antibody-positi
Slide 26: In vivo and in vitro performance of 12-week exenatide implant
fox) o 2 c=] Plasma Concentration (ng/mL) nN PS oO Oo In vivo pharmacokinetics of 12-week exenatide implant and sham implant in high fat diet-induced obese mice (n=7 per group). Values are mean + SE. *Day 56 values reported as measured, but. sample handling error suspected to have occurred Release-r
Slide 27: Exenatide delivered with NanoPortal™ is associated with durable body weight effects
Exenatide delivered with NanoPortal™ technology is associated with durable body weight effects Implant removed 5.0 T T T T T T T 5.0 T T T T T T T T T A 7 T B T | 0.0 F AA ana bh 0.0 a a ah hh hh he - I = - : = Or | = -5.0F 4 = -10.0 - 4 £ g & Look 5 -15.0+ 4 Oo . 1 oO g 2 -20.0+ 4 oa L J o« = 15.0
Slide 28: Liver fat reduction in obese mice
35.0 N nN rex) b= a So ° ° o Liver Fat (% Area) a i=] 10.0 5.0 0.0 Sham Implant Exenatide Implant (n=7) (n=7) Liver fat reduction it duced obese mice. Liver tat % area for exenatide implant vs sham implant 12 weeks after a single administration. Liver fat % area is calculated using Oil Red O (ORO) s
Slide 29: LIBERATE-1 study design
Primary Objectives: — Safety/tolerability assessment and full pharmacokinetic characterization. Changes in weight will also be assessed. Key Inclusion/Exclusion Criteria: 18-55 years old; overweight or obese (BMI 27-40) Otherwise healthy (no T2DM, normal renal function) Screen . F/U Run-| Week: Ri T
Slide 30: LIBERATE-1 Topline results
LIBERATE-1 Topline results Summary + The study met its primary objectives which were to evaluate the implant safety and tolerability and characterize the PK profile over a 9-wee uration. ¢ The implant was well-tolerated and no clinically meaningful burst was observed * There were no serious adverse
Slide 31: Financial Information
Vivani Medical, Inc. Financial Information
Slide 32: Q2 2025: Income/(Loss) Statement
Vivani Medical, Inc. Q2 2025: Income/(Loss) Statement Condensed Consolidated Statement of Operations 3 Months Ended 6 Months Ended In Thousands, except Share Data Jun. 30,2025 Jun. 30,2024 — Jun.30,2025 Jun. 30,2024 Operating expenses: Research and development, net of grants 4,759 3,513 8,976 7,239
Slide 33: Q2 2025: Balance Sheet
Vivani Medical, Inc. Q2 2025: Balance Sheet Condensed Consolidated Balance Sheet Jun. 30 Mar. 31 Dec. 31 In Thousands 2025 2025 2024 ASSETS (unaudited) (unaudited) (audited) Current assets: Cash and cash equivalents $ 6,794 $ 13,008 $ 18,352 Prepaid expenses and other current assets 1,921 1,842 . 2,
Slide 34: Q2 2025: Cap Table
Vivani Medical, Inc. Q2 2025: Cap Table Common Stock 59,243,903 Stock Options $2.25 8,407,287 RSUs - 987,500 Warrants $3.46 8,248,772 Fully Diluted Shares 76,887, 462
Slide 35: Vivani Medical, Inc.
Vivani Medical, Inc. Innovative, clinical-stage biopharmaceutical company developing a portfolio of ultra long- G) acting, miniature, drug implants to treat chronic diseases. NanoPortal™ platform technology enables the design of implants aimed at improving medication non-adherence and tolerability.