Slide 1: MetaVia Inc. Transforming Cardiometabolic Diseases
MetaVia Inc. Transforming Cardiometabolic Diseases Investor Presentation Nasdaq: MTVA August 2026 www.metaviatx.com 1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use of
Slide 3: Market Opportunity: Obesity and MASH
Market Opportunity: Obesity and MASH MetaVia is Positioned to Pursue Two Fast-Growing, Multi-Billion Dollar Markets • Obesity: A Massive Global Therapeutic Market o 650M+ adults worldwide are clinically obese o Market expected to grow from ~$10B today to $80B–$130B+ annually by 2030 • MASH: Emerging
Slide 4: Clinical Stage Biotech Focused on Cardiometabolic Diseases
Clinical Stage Biotech Focused on Cardiometabolic Diseases Targeting Obesity and MASH with a Pipeline of Next Generation Therapeutics • DA-1726: ✓ Potential best-in-class profile for weight loss, glucose control, direct liver benefit and safety shown in Phase 1 studies ▪ At 48 mg (no titration) (at
Slide 5: Strong Leadership Team
Strong Leadership Team Executive Management Non-Executive Management Hyung Heon Kim, Chief Executive Officer Mi-Kyung Kim, Ph.D., RPh, Chief Scientific Officer ▪ 20+ years of experience in M&A, financing and corporate governance ▪ 25+ years in drug discovery research at Dong-A ST ▪ 10+ years of lice
Slide 6: Multiple Near-Term Catalysts to Drive Shareholder Value
Multiple Near-Term Catalysts to Drive Shareholder Value 2025 2026 2027 Q4 2025 1H 2027* DA-1726 Q2/Q3 2025 Phase 1 Phase 1 Phase 2 Additional Obesity Otherwise Additional SAD/MAD Studies SAD/MAD data Healthy Study Initiation Obese Otherwise To explore maximum tolerated dose Healthy Q1 2026 Q4
Slide 7: DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
Slide 8: DA-1726: Mechanism of Action - Reduces Appetite & Boosts Burning of Calories
DA-1726: Mechanism of Action - Reduces Appetite & Boosts Burning of Calories Dual-Acting Therapy Leveraging the GLP-1 and Glucagon Pathways (3:1 Ratio) DA-1726 (Oxyntomodulin Analogue) • Mimics a natural gut hormone released after meals GLP-1 Receptor Activation (3x) • Reduces appetite • Decreases f
Slide 9: Competitive Landscape – Efficacy
Competitive Landscape – Efficacy DA-1726 Pemvidutide1 Mazdutide2 Survodutide3 Retatrutide5 Developer MetaVia Altimmune Innovent/Lilly Boehringer Ingelheim/Zealand Lilly Status Phase 1 Phase 3 ready Phase 2 in US Phase 3 Phase 3 Action GLP-1R/GCGR GLP-1R/GCGR GLP-1R/GCGR GLP-1R/GCGR GLP-1/GCGR/GIP (3
Slide 10: Competitive Landscape – Adverse Events
Competitive Landscape – Adverse Events DA-1726 Pemvidutide1 Mazdutide2 Survodutide3 Retatrutide5 Developer MetaVia Altimmune Innovent/Lilly Boehringer Ingelheim/Zealand Lilly Status Phase 1 Phase 3 ready Phase 2/3 Phase 3 Phase 3 Action GLP-1R/GCGR GLP-1R/GCGR GLP-1R/GCGR GLP-1R/GCGR GLP-1R/GCGR/GIP
Slide 11: Recent Obesity Drug Transactions
Recent Obesity Drug Transactions Big Pharma has Committed Over $15 Billion in Obesity/MASH Licensing Deals in the Past 12 Months Companies Date Stage Description Drug Deal Structure Deal Terms Phase 3 MET-097i GLP-1, Ready MET-233i Pfizer / Metsera November 2025 Amylin analog, M&A ~$7 billion (Lead
Slide 12: DA-1726: Program Summary & Path Forward
DA-1726: Program Summary & Path Forward DA-1726: Differentiated efficacy with best-in-class potential across weight loss, glucose control, liver health, and safety 48 mg Key Takeaways Next Steps Potential best-in-class metabolic profile Advancing dose optimization • Strong efficacy without titration
Slide 13: Vanoglipel (DA-1241)
Vanoglipel (DA-1241) Orally Available, Potential First-in-Class GPR119 Agonist for the Treatment of Metabolic Dysfunction-Associated Steatohepatitis (MASH)
Slide 14: Vanoglipel (DA-1241): Targeting MASH at Its Source
Vanoglipel (DA-1241): Targeting MASH at Its Source GPR119 Activation • Found on key liver and immune cells driving MASH • Acts directly in the liver, not just indirectly Potential Benefits in MASH and Metabolism • Reduce liver fat and inflammation • Slow or reverse liver scarring (fibrosis) • Post-m
Slide 15: Vanoglipel: Liver Protection and Blood Sugar Benefits in MASH
Vanoglipel: Liver Protection and Blood Sugar Benefits in MASH Key Phase 2a Results (randomized, double-blind, 16 weeks, placebo-controlled): ✓Liver function improved: ALT reduced by 22.8 U/L ✓Inflammation & fibrosis markers improved: suggesting liver health benefits ✓Enhanced glucose control in pati
Slide 16: Vanoglipel Combos with SEMA or EFX Boost Liver Benefits in Mouse MASH Model
Vanoglipel Combos with SEMA or EFX Boost Liver Benefits in Mouse MASH Model Support the therapeutic potential of combining GPR119 agonists with GLP-1 RAs or FGF-21 analogues for the treatment of MASH: ✓ Combination therapy improved liver health—ALT, cholesterol, fat, inflammation, and fibrosis—more
Slide 17: Vanoglipel: Summary & Next Steps
Vanoglipel: Summary & Next Steps Clinical Data Supports Development as Monotherapy or in Combination: High Unmet Need Clinical Rationale & Opportunity • Vanoglipel is a novel GPR119 therapy for MASH and metabolic diseases • Demonstrated liver protection and glucose control in Phase 1 & 2a • Safe and
Slide 18: Financials and Capitalization
Financials and Capitalization
Slide 19: Cash Balance and Capitalization Table
Cash Balance and Capitalization Table Financial Snapshot As of June 30, 2026 Cash and cash equivalents $12.6 million Debt None Capitalization Table as of June 30, 2026 Common Stock Equivalents Common Stock 6,575,656 Warrants (WAEP $7.94) (1) 8,959,788 Options (WAEP $4,240.22) 420 Restricted Stock Un
Slide 20: Strong Clinical Progress Across Two High-Impact Programs
Strong Clinical Progress Across Two High-Impact Programs Targeting Obesity and MASH with a Pipeline of Next Generation Therapeutics • DA-1726: ✓ Potential best-in-class profile for weight loss, glucose control, direct liver benefit and safety shown in Phase 1 studies ▪ At 48 mg (no titration) (at Da
Slide 21: Positioned for Value Creation in Two High-Growth Markets
Positioned for Value Creation in Two High-Growth Markets • High-Impact Clinical Programs o DA-1726: Obesity program in a rapidly expanding drug class o Vanoglipel: Novel oral therapy targeting MASH • Large, Growing Addressable Populations o Obesity: broad population with increasing treatment adoptio
Slide 22: Thank You!
Thank You! Investor Contacts: Rx Communications Group Michael Miller +1 917.633.6086 mmiller@rxir.com MetaVia Marshall Woodworth +1 919.749.8748 marshall.woodworth@metaviatx.com
Slide 23: Appendix
W MetaVia Appendix
Slide 24: DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
DA-1726 A Novel GLP1R/GCGR Dual Agonist for the Treatment of Obesity
Slide 25: DA-1726: Phase 1 Clinical Program
DA-1726: Phase 1 Clinical Program Carefully planned to evaluate safety and efficacy of DA-1726 and dosing strategy to inform Phase 2 design Completed Q1 2026 Initiation Part 2 Main Optional Extension for Part 3 48mg Cohort Titration Dosing Strategy Additional (16-week Duration) 48 mg 4 weeks 48 mg 3
Slide 26: DA-1726 Phase 1 MAD Study: Body Weight Loss on Day 26
DA-1726 Phase 1 MAD Study: Body Weight Loss on Day 26 Compelling, dose-dependent body weight loss seen in doses > 8 mg DA-1726 Pooled Placebo 4 mg 8 mg 16 mg 32 mg 48 mg (n=14) (n=6) (n=5) (n=6) (n=6) (n=6) Baseline body weight (kg) 96.7 84.4 89.3 96.0 90.4 110.4 0% -1% -0.9% Change from Baseline -2
Slide 27: DA-1726 Phase 1 MAD Study: Body Weight Loss in 48 mg Cohort
DA-1726 Phase 1 MAD Study: Body Weight Loss in 48 mg Cohort Mean Body Weight Mean Body Weight Change from Baseline Mean Body Weight Change (%) from Baseline Day 26 Day 54 Baseline in 48 mg DA-1726 DA-1726 48 mg 110.4 kg -6.1% (-6.6 kg) -9.1% (-9.6 kg) 0% Placebo 109.0 kg -0.2% (-0.3 kg) -2.8% (-3.1
Slide 28: DA-1726 Phase 1 MAD Study: Waist Circumference Change in 48 mg Cohort
DA-1726 Phase 1 MAD Study: Waist Circumference Change in 48 mg Cohort Mean Waist Mean Waist Circumference Mean Waist Circumference (cm) Circumference Change from Baseline Change from Baseline in 48 mg DA-1726 Baseline Day 26 Day 54 DA-1726 48 mg 118.7 cm -5.0% (-5.8 cm) -8.5% (-9.8 cm) 0 Placebo 122
Slide 29: DA-1726 Phase 1 MAD Study: Glucose Control in 48 mg Cohort (Day 54)
DA-1726 Phase 1 MAD Study: Glucose Control in 48 mg Cohort (Day 54) Mean Fasting Glucose Mean HbA1c Baseline Day 54 Baseline Day 54 DA-1726 48 mg 105.3 mg/dL 93 mg/dL DA-1726 48 mg 5.6% 5.4% Placebo 91.3 mg/dL 83 mg/dL Placebo 5.4% 5.3% Mean Fasting Glucose (mg/dL) Mean HbA1c (%) in 48 mg DA-1726 in
Slide 30: DA-1726 Phase 1 MAD Study: VCTE in 48 mg Cohort (Day 54)
DA-1726 Phase 1 MAD Study: VCTE in 48 mg Cohort (Day 54) Mean VCTE Baseline Day 54 Mean VCTE (kPa) in 48 mg DA-1726 DA-1726 48 mg 5.9 kPa 4.5 kPa 6.5 Placebo 5.1 kPa 6 kPa 6.0 5.5 VCTE (FibroScan®) is the most widely used imaging-based 5.0 non-invasive test for liver stiffness, with <6.0 kPa being F
Slide 31: Vanoglipel (DA-1241)
Vanoglipel (DA-1241) Orally Available, Potential First-in-Class GPR119 Agonist for the Treatment of Metabolic Dysfunction-associated Steatohepatitis (MASH)
Slide 32: Phase 2a, 16-week, Randomized Double-blind, Placebo-controlled Study in Presumed MASH
Phase 2a, 16-week, Randomized Double-blind, Placebo-controlled in Patients with Presumed MASH Double-blind Placebo (n=12) Part 1 Patients with presumed 50 mg Vanoglipel (n=12) MASH Primary Endpoint: • 7 kPa ≤ VCTE < 14 kPa, 100 mg Vanoglipel (n=25) Change from baseline in • CAP ≥ 290 dB/m, ALT level
Slide 33: Vanoglipel Reduced CAP and Improved At-risk MASH Biomarkers Including FAST and NIS-4
Vanoglipel Monotherapy vs. Placebo Vanoglipel Reduced CAP Indicating Liver Fat Reduction and Improved At-risk MASH Biomarkers Including FAST and NIS-4 Scores LSM of CFB LSM of CFB LSM of CFB CAP (dB/m) at W16 FAST Score at W16 NIS-4 Score at W16 DA-1241 DA-1241 DA-1241 DA-1241 DA-1241 DA-1241 Placeb
Slide 34: Significant, Rapid Reduction in HbA1c with Vanoglipel Monotherapy
Vanoglipel Monotherapy vs. Placebo Significant, Rapid Reduction in HbA1c was Observed With Vanoglipel Monotherapy Suggesting Favorable Improvement in Glucose Control LSM of CFB: LSM of CFB: HbA1c (%p) at W16 HbA1c (%p) Over Time DA-1241 DA-1241 W0 W4 W8 W16 0.2 Vanoglipel 100 mg significantly Placeb
Slide 35: Enhanced Incretin Action With the Combination Therapy Augmented Glucose Control
Vanoglipel 100 mg + Sitagliptin 100 mg Combination vs. Placebo Enhanced Incretin Action With the Combination Therapy Augmented Glucose Control Leading to a Significant Reduction in HbA1c at Week 16 LSM of CFB: LSM of CFB: HbA1c (%p) at W16 HbA1c (%p) Over Time W0 W4 W8 W16 0.2 HbA1c reduction was en
Slide 36: Vanoglipel Efficiently Controlled Plasma Glucose in Diabetic Subjects With Presumed MASH
Vanoglipel 100 mg + Sitagliptin 100 mg Combination vs. Placebo Vanoglipel Efficiently Controlled Plasma Glucose in Diabetic Subjects With Presumed MASH LSM of CFB: HbA1c (%p) in Diabetic Patients (≥6.5%) BL: 7.0~7.9% 0.24 0.12 0 -0.18 -0.18 -0.24 Greater Improvement of Glucose -0.29 -0.5 -0.4 Contro
Slide 37: Vanoglipel Showed a Favorable Safety & Tolerability Profile
Vanoglipel Showed a Favorable Safety & Tolerability Profile With No TEAE Leading to IP Discontinuation in Patients w/Presumed MASH Similar safety profile of the combination arm compared to placebo indicates combinability of vanoglipel with other drugs Vanoglipel 100 mg Placebo Vanoglipel 50 mg Vanog