Camurus Ab · OMXSTO:CAMX
Camurus Ab — Investor Presentation (July 2025)
41 slides from Camurus Ab's investor presentation, July 2025
Slide 1: Company presentation July 2025
Company presentation July 2025
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward-looking statements that provide our expectations or forecasts of future events such as new product developments and regulatory approvals and financial performance. Camurus is providing the following cautionary statement. Such forward-look
Slide 3: Camurus snapshot
Camurus snapshot Rapidly growing Unique FluidCrystal® commercial stage company technology platform Leader in opioid dependence treatment Commercially validated with a broad with Buvidal® and Brixadi® weekly range of applications and monthly depots Advancing late-stage pipeline Strong operational and
Slide 4: Strategy for continued value creation
Strategy for continued value creation 1 Grow Buvidal/Brixadi sales and expand to new markets 2 Advance R&D pipeline to new approvals and launches 3 Diversify and grow through business development 4 Drive operational excellence and sustainable profitability Camurus’ vision 2027 5x 4 ~50% Sustainable
Slide 5: Significant recent progress
Significant recent progress Commercial Advancing Corporate execution R&D pipeline development • Global leadership in long-acting • Oczyesa® approved in the EU for the • Solid financial performance with high treatment of opioid dependence treatment of acromegaly profitability • Double-digit Buvidal s
Slide 6: Strong financial development
Strong financial development •Revenues •Profit before tax MSEK MSEK 2,000 1868 600 549 553 1717 1,500 400 Full year 2025 guidance Revenue 200 1,000 956 73 SEK 2.7 – 3.0 billion + 45 – 61% vs. 2024 0 601 500 -112 Profit before tax 336 -200 -207 SEK 0.9 – 1.2 billion 106 + 63 – 117% vs. 2024 0 -400 -3
Slide 7: FluidCrystal extended-release technology
FluidCrystal® extended-release technology Easy and convenient administration Applicable across substance classes Rapid onset & long-acting release Compatible with prefilled syringes, auto- injector pens, and other advanced devices Controlled by composition, liquid crystal phase structure and biodegr
Slide 8: Broad and diversified product portfolio and pipeline
Broad and diversified product portfolio and pipeline Approved products Phase 1 Phase 2 Phase 3 Registration Market Buvidal® Opioid dependence EU, AUS, MENA Brixadi® Opioid use disorder1 US Oczyesa® Acromegaly EU Approved 30 June 2025 Key pipeline programs CAM2029 Acromegaly US CAM2029 GEP-NET2 CAM20
Slide 9: Opioid dependence – an escalating global health crisis
9 Opioid dependence – an escalating global health crisis High US overdose death rate •Largest society burden of all drugs1 12 Month-ending Provisional Number ‒ 60 million opioid users worldwide1 of Drug Overdose Deaths in the US2 ‒ Escalating US opioid overdose deaths2 120,000 Number of deaths in th
Slide 10: Buvidal – game changing opioid dependence treatment
10 Buvidal – game changing opioid dependence treatment • Weekly and monthly, subcutaneous buprenorphine for individualized treatment of opioid dependence within a framework of medical, social and psychological treatment in adults and adolescents 16 years or over1 “Buvidal became my way out” Justin,
Slide 11: Buvidal has demonstrated significant benefits to patients and society
Buvidal has demonstrated significant benefits to patients and society Superior treatment outcome and patient satisfaction1-4 Blocks subjective opioid effects from first dose2 Reduces treatment burden and improve quality of life4,5 Decrease risk of diversion, misuse and pediatric exposure6,7 Provides
Slide 12: Global leadership in long-acting opioid dependence treatment
Global leadership in long-acting opioid dependence treatment •Wide and growing access to Buvidal and Brixadi •Strong growth of Buvidal sales ‒ Available across four continents MSEK ‒ Estimated 65,000 in treatment with Buvidal in Europe 1,654 and Australia end of June 2025 1,500 1,299 •Robust Buvidal
Slide 13: Brixadi performance in the US
Brixadi performance in the US •US opioid crisis continues Brixadi royalty by quarter ‒ Overall, 6-7 million people with OUD in the US1-3 MSEK ‒ Total number of ~2.3 million patients in treatment in 100 2023 of which ~1.8 million on buprenorphine4 89 83 •Growing Brixadi market share 80 74 ‒ Renewed h
Slide 14: Buvidal/Brixadi – well differentiated
14 Buvidal/Brixadi – well differentiated •Convenient and flexible administration LAI features2 ‒ Weekly and monthly dosing ‒ Multiple dose strengths (four weekly, three monthly) Weekly dosing – – ‒ Thin needle and small dose volumes Monthly dosing ‒ Room temperature stability (no cold chain
Slide 15: Growing scientific evidence base
Growing scientific evidence base •Strong scientific support for Buvidal/Brixadi Recent key publications1-3 ‒ More than 240 scientific publications •Selected recent and planned scientific conference participation in 2025 Q1/Q2 2025 Q3/Q4 2025 International ASAM ISAM ALBATROS CPDD IMiA ATHS 24-27 Apr
Slide 16: Octreotide SC depot, CAM2029
Octreotide SC depot, CAM2029 CAM2029 is a long-acting octreotide in development for three serious rare disease indications Acromegaly Gastroenteropancreatic neuroendocrine tumors (GEP-NET) Polycystic liver disease (PLD) Designed for enhanced efficacy and patient convenience vs. current somatostatin
Slide 17: CAM2029 designed to address key limitations of current first-generation SRLs
CAM2029 designed to address key limitations of current first-generation SRLs Ready-to-use FluidCrystal® technology Rapid onset and long-acting octreotide release1 5-fold octreotide bioavailability vs Sandostatin LAR with potential for improved efficacy1-3 State-of-the-art, pre-filled autoinjector pe
Slide 18: CAM2029 provides high SRL exposure
CAM2029 provides high SRL exposure ~5x higher octreotide plasma exposure for CAM2029 vs. Sandostatin LAR ‒ CAM2029 octreotide plasma levels in the range of immediate release octreotide 100 Steady state pharmacokinetic profiles CAM2029 20mg q4w (PK model) Octreotide concentration (ng/mL) Sandostatin
Slide 19: CAM2029 clinical program overview
CAM2029 clinical program overview 5 completed Final results Phase 1 and 2 Open label extension clinical trials characterizing PK, PD and Fully recruited safety in Open label extension healthy subjects and Fully recruited Interim results patients Open label extension -2022 2023 2024 2025 2026 2027 AC
Slide 20: Towards a patient-centric acromegaly treatment
Towards a patient-centric acromegaly treatment •Acromegaly is a rare, slowly progressive, chronic and serious condition typically caused by a tumor of the pituitary gland and overproduction of growth hormone. This results in excess growth of bones and tissue and a range of other symptoms and, if unt
Slide 21: Positive results from ACROINNOVA – robust biochemical control
Positive results from ACROINNOVA 1 – CAM2029 provided robust biochemical control •ACROINNOVA 1 study design •Superiority achieved •CAM2029 improved ‒ 24-week, randomized, double blind, ‒ 77.2% vs. 37.5% patients with ‒ Treatment convenience placebo-controlled Phase 3 study IGF-1 ≤1 ULN with CAM2029
Slide 22: Positive topline results from ACROINNOVA 2
Positive topline results from ACROINNOVA 2 •ACROINNOVA 2 study design •Improved acromegaly •ACROINNOVA 2 results ‒ 52-week, open-label safety study symptoms with CAM2029 ‒ Reinforcing long-term safety and with further extension effectiveness in ACROINNOVA 1 •Patient population 1 ‒ Increased response
Slide 23: Positive ACROINNOVA extension study data
Positive ACROINNOVA 2 extension study data Improved biochemical response for patients during treatment with CAM2029 Patients continuously on CAM2029 for 2 yrs Reinvited patients after intermediate treatment with SoC* 100 100 Proportion of responders (% IGF-1≤1xULN) Proportion of responders (% IGF-1≤
Slide 24: Medical information and dissemination of ACROINNOVA results
Medical information and dissemination of ACROINNOVA results •Pre-launch activities Rapid fire presentation, educational program and ‒ Meeting with acromegaly stakeholders posters of ACROINNOVA results at ENDO1 ‒ National and regional advisory board meeting ‒ Payer engagement and submissions ‒ Commer
Slide 25: Potential to become new standard of care for GEP-NET
Potential to become new standard of care for GEP-NET •Neuroendocrine tumors are cancerous tumors originating from cells in the endocrine and nervous system. The tumors can occur throughout the body, most common they occur in the gastrointestinal tract and lungs. The disease can be chronic with serio
Slide 26: SORENTO assessing CAM2029 superiority in PFS vs SoC in GEP-NET
SORENTO assessing CAM2029 superiority in PFS vs SoC in patients with GEP-NET •Randomized, active-controlled Phase 3 study •Primary endpoint ‒ Randomized, multi-center, open-label, active-controlled ‒ Superiority in progression free survival, PFS, vs. standard of Phase 3 study of CAM2029 vs. long-act
Slide 27: Positive results from POSITANO in polycystic liver disease
Positive results from POSITANO in polycystic liver disease •Polycystic liver disease is a rare, genetic, and chronic disorder characterized by progressive growth of cysts in the liver, which can cause severe symptoms and result in impaired quality of life for patients. 27 CONFIDENTIAL
Slide 28: Polycystic liver disease
Polycystic liver disease •Disease characteristics and prevalence Epidemiology1 ‒ Progressive growth of liver cysts of various sizes ‒ Estimated 37,000 target patients with symptomatic ADPKD 185,000 patients polycystic liver disease (PLD) in US, EU4 and UK1 (US, EU4, UK) ‒ No available pharmacologica
Slide 29: POSITANO – Phase 2b study in PLD
POSITANO – Phase 2b study in PLD •Trial design •Primary endpoint •Secondary endpoints ‒ 53-week randomized, placebo- ‒ Liver volume change from baseline ‒ Total liver cyst volume controlled, three-arm study to week 53 compared to placebo ‒ Total kidney volume in ADPKD ‒ Open label extension for pati
Slide 30: POSITANO met the primary endpoint
POSITANO met the primary endpoint Reduction in height adjusted total liver volume change with CAM2029 vs baseline Main and sensitivity analyses for the primary endpoint Treatment difference between CAM2029 groups and placebo Week 53 Favors CAM2029 Favors placebo 2 baseline in htTLV (%, mean and 95%
Slide 31: CAM2029 reduces liver cyst volume vs placebo
CAM2029 reduces liver cyst volume vs placebo Total liver cyst volume change from baseline Difference CAM2029 vs placebo 5 baseline in TLCV (%, mean and 95% CI) CAM2029 Difference vs placebo in change from 15 Placebo 0 TLC change from baseline 10 (mean and 95% CI) 5 -5 0 -10 -5 Change from baseline a
Slide 32: POSITANO topline results summary for CAM2029
POSITANO topline results summary for CAM2029 Efficacy conclusions Safety profile • Reduction of liver volume growth vs placebo • Treatment generally well tolerated ‒ Primary endpoint supported by sensitivity analyses • Safety profile consistent with that of other • Reduction of total liver cyst volu
Slide 33: CAM2029 recent milestones and expected progress ahead
CAM2029 recent milestones and expected progress ahead Pivotal randomized placebo controlled Subcutaneous Octreotide Randomized Polycystic liver Safety and efficacy and long-term safety trials in acromegaly Efficacy in Neuroendocrine TumOrs TriAl with subcutaneous Octreotide Positive results from SOR
Slide 34: Commercial readiness for launch of CAM2029 in acromegaly
Commercial readiness for launch of CAM2029 in acromegaly Pre-launch activities in US and EU ‒ In-depth market research ‒ Optimizing the distribution and supply chain model ‒ Payor interactions and advisory meetings ‒ Increasing awareness of Camurus among stakeholders • CAM2029 peak sales estimates >
Slide 35: Early-stage programs
Early-stage programs Several early-stage programs advancing Phase 1 study of CAM2056 Positive data and assessments of multiple preclinical drug candidates, including long-acting incretins 35
Slide 36: Progress of clinical study of CAM2056
Progress of clinical study of CAM2056 •CAM2056 – once monthly FluidCrystal semaglutide Completed preclinical program met target profile All patients dosed in Phase 1 study evaluating pharmacokinetics, weight loss, tolerability and safety of CAM2056 in overweight or obese participants Top-line result
Slide 37: License agreement with Lilly on long-acting incretins
License agreement with Lilly on long-acting incretins •Partnership focused on long-acting therapies based on FluidCrystal and Lilly’s proprietary drug compounds ‒ Lilly obtained license to research, develop, manufacture and commercialize long- acting incretin products based on FluidCrystal ‒ Include
Slide 38: Significant near-term opportunities
Significant near-term opportunities Continued Buvidal growth in Europe and RoW Increasing Brixadi penetration in the US Market approvals of CAM2029 in acromegaly Clinical results for CAM2029 and CAM2056 Diversification through business development Positive financial outlook 2025 with expected high g
Slide 39: Camurus AB contact details
Camurus AB│Rydbergs torg 4, SE-224 84 Lund, Sweden P +46 46 286 57 30│info@camurus.com│camurus.com
Slide 40: Shareholders and analyst coverage
Shareholders and analyst coverage Shareholders as of 30 June 2025 Number of shares % of capital % of votes Sandberg Development AB 18,280,692 30.6 30.6 Analysts Fourth Swedish National Pension Fund 2,808,776 4.7 4.7 DNB Carnegie Swedbank Robur Fonder 2,518,251 4.2 4.2 Erik Hultgård Fredrik Tiberg, C
Slide 41: Experienced and committed management team
Experienced and committed management team Fredrik Tiberg, PhD Education: M.Sc. in Chem. Eng., Lund Institute of Technology, Anders Vadsholt Education: M.Sc. In Corporate Law and Economics, President & CEO, CSO PhD and Assoc. Prof. Physical Chemistry, Lund University. Chief Financial Officer Copenhag