Vivoryon Therapeutics N.V.

Good morning or good afternoon, everyone, and thank you for joining us today for Vivorion's first half 2026 results call. Earlier today, we issued a press release reporting our first half 2026 financial results and business update, which can be found on Vivorion's website at www.vivorion.com. On the call with me today are Frank Lieber, our Chief Executive Officer, Markus Irsfeld, our Chief Financial Officer, as well as Michael Schäfer, our Chief Business Officer. Before we start, I would like to remind you that during this conference call, we will present and discuss certain forward-looking statements concerning future transactions, the development of ReVorion's core platform, the progress of its research and development program, and the initiation of additional programs, as well as results of operations, cash needs, financial conditions, liquidity prospects, and strategies. Should actual results differ from the company's assumptions, ensuing actions may differ from those anticipated. You are therefore cautioned not to place undue reliance on such forward-looking statements which speak only as of the date hereof. As you can see on the agenda for today's call, I will begin with an overview of our progress throughout the first half of 2026 as we continue to advance our strategic priorities and strengthen the body of evidence for varaglutamstat in kidney disease. I will then hand the call over to Michael who will share some new preclinical data which provide further insights into the mechanism of action underlying the compelling data we have seen with varaglutamstat in clinical studies. Frank will then share details on the growing momentum behind our strategic partnering discussion. He will be followed by Markus, who will review the first half 2026 financial results before we conclude with Frank. Following the prepared remarks, we will open the call and we'll be happy to take your questions. I would like to start by providing a high-level overview of our progress throughout the first half of 2026. Throughout the reporting period, we have seen growing momentum and increased strategic interest from a range of external parties, and we are aware of the market's focus on latest developments. We obviously can't go into too much detail, but what we can share is that there are multiple strategic discussions progressing, including advanced term sheet negotiations for a potential licensing agreement. Frank will provide a more detailed strategic update in a few minutes. On the R&D front, we continue to present and generate interest at important international medical conferences in the kidney space. In March, we presented a poster at the World Congress of Nephrology in Japan, further validating glutaminoid cyclases as promising targets in diabetic kidney disease, in short, DPD. We previously showed in the Phase II VIVIAT and VIVAMENT studies that varaglutam studs had a greater beneficial effect on kidney function in elderly participants with diabetes than in those without diabetes. At WCN, we build on these findings by showing that the effect was maintained or even higher in participants with diabetes who had lower baseline kidney function. This is extremely important because it shows that varaglutam studs has a beneficial effect in those patients with the highest risk of or already impaired kidney function. These data continue to support our Rational 2 as a next step in development. Pursue a dedicated Phase 2B study in advanced EKD where there remains a significant unmet need for therapies that can stabilize or improve kidney function. As many of you know, viral glutamate is differentiated from other approaches in development in spanning multiple pathways that underpin inflammation and fibrosis. Key Drivers of Kidney Disease Progression. Throughout the first half of 2026, our science team has continued to expand the preclinical data set about varagustum stud mechanism of action in kidney disease. Previously, we had shared work that we have done to better understand the molecular mechanism, including data highlighting varagustum stud's role in collagen maturation and in reducing reactive oxygen species. As a reminder, If you would like to learn more, there's a detailed scientific webcast on our website under the Our Approach section. In a pathway analysis, we have now investigated the effect of Vargo Dumpstat on endothelial cells. These cells are a crucial important part of the kidney's filtration barrier, and their integrity is an essential factor in maintaining proper kidney function. Michael will highlight some of the key findings which we believe further support viral glutamstats' potential to be a game-changer for kidney disease. The target molecules of viral glutamstats, the glutaminoid cyclases, play an important role in a number of pathways related to diseases of the kidney. Our continued progress in understanding how viral glutamstats support and potentially restore kidney function further strengthens the link between its mechanism of action and the exceptional clinical results observed to date. And we have already seen this deeper understanding support our discussion with potential partners. Finally, based on our current planning, we maintain the expectation that our cash run will extend into the fourth quarter of 2026. And we continue to actively explore strategic and financing options to strengthen our financial position. Overall, we believe we are in a strong scientific and strategic position to advance our Gutham study and to realize the next phase of value creation. And with that, I would like to hand the call over to Michael. Michael?

Thank you, Julia. So welcome everybody also from my side. Yeah, well, as we have been reporting in the past, we are continuously analyzing data from preclinical activities to deepen our understanding of molecular mode of action of glutamine recycle inhibitors. And we have informed you also in the past about the comprehensive scientific validation showing that the downstream actions of our glutamine-recyclase inhibitors of our glutamstats are predominantly mediated by reducing the activity of pro-inflammatory and pro-fibrotic molecules, ultimately resulting in reduction of inflammation as well as tubular interstitial fibrosis and glomerular sclerosis. And now we report here a new finding. The further analysis and RNA profiling from CKD animal models shows that in addition, myoglutam stat is improving endothelial cell function via the HIF pathway activation. HIF or hypoxia inducible factor is a transcription factor that when activated kicks off a cascade of events, including metabolic reprogramming and modulation of innate and adapted immune cells, both residing in cellular protection and metabolic integrity. So let us get this all into the framework of our current MOA overview. Next to the downregulation of inflammatory and fibrotic signals reported earlier, we now must add a third layer here for viral elements that Some of the expected benefits of fifth pathway activation include reversal of capillary refraction by promoting the growth of new and healthy endothelial cells to rebuild the capillary network in the kidneys. Improved oxygenation and survival by activating the vascular and arterial growth vector of the EGF and its receptor, supplying starving renal cells with necessary oxygen and nutrients. Reduction of interstitial fibrosis by relieving chronic tissue hypoxia and breaking the cycle of inflammation and extracellular matrix protein deposition, which otherwise would lead to permanent kidney sclerosis. So to sum up, it is really worthwhile to note that in the entire scientific community, the poor understanding of the HIP pathway induced changes on immune cell metabolism and associated changes in cell function is still somewhat in its infancy. However, at the same time, it's true that HIP is a rather new but already validated therapeutic drug target. GSKs, GenuGrok, and Archebias valsteo are just two examples of FDA-approved HIPAA activators, which are prescribed for anemia associated with chronic kidney disease. And with this, I'd like to close and now on to Frank for an overview on current activities. Thank you, Mick.

Thank you, Julia. So I will talk about... The Strategic Imperatives and Priorities of Evorion. It will be a very concise and short presentation. The objective is to give you a correct update where we are as a company, but also keep the confidentiality of the communications and negotiations with other parties, which is the best interest of Vivorion and the other involved parties. So let's go into details. Vivorion follows multiple tracks to secure development of varagutamstat in kidney disease. The company Vivorion is currently in advanced term sheet negotiations for a licensing agreement for varagutamstat with a pharmaceutical biotech company. We hope and expect that these negotiations will continue and be successfully completed in the upcoming weeks. We also are involved with a specialist kidney investor who is independently assessing the potential in kidney disease for a potential investment. Also here we expect updates and a Additionally, further discussion at various stages with additional strategic parties are ongoing to maximize the full potential of the QPCTL platform in kidney diseases. While we expect, hope, and believe that we can conclude those negotiations successfully in the next couple of weeks, I want to remind you that there is no guarantee that there will be success. With that, I want to hand over to Markus.