BI-3034701

Boehringer headquarters Boehringer headquarters, Ingelheim, Germany Boehringer Ingelheim announces the start of a Phase II clinical trial evaluating the efficacy and safety of its novel triple receptor agonist, BI 3034701, in people living with obesity and overweight. 1 BI 3034701 is a potential first-in-class GLP-1/GIP/NYP2 receptor agonist designed to address obesity through three pathways, where neuropeptide Y2 (NPY2)-driven central control of hunger, appetite and food intake is complemented by GLP-1/GIP-mediated satiety, weight reduction, and metabolic regulation. 2,3,4 The novel candidate may offer a highly differentiated, complementary therapeutic option within Boehringer Ingelheim's expanding obesity and cardiometabolic portfolio. Ingelheim, Germany – Boehringer Ingelheim today announces the start of a Phase II clinical trial evaluating its investigational triple GLP-1/GIP/NPY2 receptor agonist, BI 3034701, in patients with obesity and overweight. 1 The trial represents a significant milestone for Boehringer’s cardiometabolic and obesity pipeline, which aims to address obesity as a central driver of interconnected cardiovascular, renal and metabolic conditions. 5,6 Obesity is a complex, chronic disease that impacts more than 1 in 8 people worldwide in many different ways, and can have serious long-term consequences. 7,8 Due to the heterogeneity of the disease, different mechanisms are needed to address different patient needs, disease stages, and risk pro 8,9 BI 3034701 is a potential first-in-class triple agonist designed to activate the GLP‑1, GIP, and NPY2 receptors. 1 By engaging these three complementary biological pathways, the molecule aims to address obesity through simultaneously targeting the regulation of body weight and metabolism. 2,3,4 While the impact of GLP-1 and GIP on satiety, weight, and metabolic regulation is well established, 2 NPY2R agonism provides a potentially differentiated mechanism that is still being investigated. Based on scientific literature, activation of the NPY2 receptor modulates central hunger signaling, while its impact on broader eating behavior remains to be fully elucidated. 4 In Phase I studies, BI 3034701 demonstrated a generally favorable safety and tolerability profile, 10 a key factor in advancing the program into its next phase of clinical development. The Phase II study is designed to evaluate the molecule in people living with obesity and overweight, including dose finding and broader clinical evaluation of efficacy and safety. 1 ezstandalone.cmd.push(function () { ezstandalone.showAds(131); }); “The obesity treatment landscape is rapidly expanding, with a need to target a broader variety of therapeutic mechanisms given that obesity is a heterogeneous disease. This approach may better enable healthcare providers to move towards matching the right treatment to the right patient at the right time,” said Dr Ania Jaestreboff MD, PhD, professor at Yale School of Medicine and Director of the Yale Obesity Research Center (Y-Weight). “At Boehringer Ingelheim, we are working towards a future where earlier, multi-pathway intervention leads to long-term outcomes that prevent the progression of interconnected cardiometabolic diseases,” said Shashank Deshpande, Chairman of the Board of Managing Directors and Head of Human Pharma, Boehringer Ingelheim. “In the future, we expect obesity care to become much more differentiated, and with BI 3034701, we aim to go beyond short-term weight loss and address both the biological and behavioral drivers of obesity.” BI 3034701 is part of a broader portfolio of therapies being developed for people living with obesity or obesity and connected metabolic health conditions, which has multiple approaches under investigation, including survodutide, a dual glucagon/GLP-1 agonist. Results from Phase III trials of survodutide were recently presented at American Diabetes Association’s (ADA) 2026 Scientific Sessions. 11 Boehringer Ingelheim’s pipeline across obesity and liver health also includes additional next-generation therapies and experimental approaches including oral treatment options. 12 Notes to Editors About BI 3034701 BI 3034701 was developed in cooperation with Gubra. Boehringer Ingelheim is solely responsible for further development and global commercialization of BI 3034701. About obesity and overweight In 2016, more than 1.9 billion adults lived with overweight — defined as a body mass index (BMI) of 25 or more. 13 Of these, over 650 million were living with obesity — defined as a BMI of 30 or more. 13 More than one billion people around the world are living with obesity today (1 in 8 of us) — and by 2030, that number could be more than double what it was in 2010. 14 Overweight and obesity are complex chronic conditions involving abnormal or excessive fat accumulation that present a risk to a person’s overall health. 8 About Boehringer Ingelheim Boehringer Ingelheim is a biopharmaceutical company active in both human and animal health. As one of the industry’s top investors in research and development, the company focuses on developing innovative therapies that can improve and extend lives in areas of high unmet medical need. Independent since its foundation in 1885, Boehringer takes a long-term perspective, embedding sustainability along the entire value chain. Our approximately 54,300 employees serve over 130 markets to build a healthier and more sustainable tomorrow. Learn more at Boehringer Ingelheim’s Intended Audiences Notice This press release is issued from our Corporate Headquarters in Ingelheim, Germany and is intended to provide information about our global business. Please be aware that information relating to the approval status and labels of approved products may vary from country to country, and a country-specific press release on this topic may have been issued in the countries where we do business. References Clinicaltrials.gov. A Study to Test Whether BI 3034701 Helps People to Lose Weight Who Live With Obesity or Overweight. Available at: . Last accessed: July 2026. Shah M, Vella A. Rev Endocr Metab Disord . 2014;15(3):181-187. Borner T, et al. Diabetes. 2021 Nov;70(11):2545-2553. Yulyaningsih E, et al . Br J Pharmacol. 2011 Jul;163(6):1170-202. Ndumele, C et al. Cardiovascular-Kidney-Metabolic Health: A Presidential Advisory From the American Heart Association. Circulation. 2023;148(20):1606–1635. doi:10.1161/CIR.0000000000001184. Bannuru, R. Introduction and Methodology: Standards of Care in Overweight and Obesity 2025. BMJ Open Diabetes Research & Care. 2025;13:e004928. doi:10.1136/bmjdrc-2025-004928. World Obesity Federation. World Obesity Atlas 2025. Last accessed July 2026. Bray A, et al . Obes Rev 2017;18:715-723. Singh V, et al . Adv Ther. 2025 Nov;42(11):5341-5364. Boehringer Ingelheim advances next generation triple-agonist peptide for the treatment of obesity into mid-stage development. Available at: . Last accessed July 2026. Boehringer Ingelheim’s survodutide Phase III trial showed targeted 34% visceral and 63% liver fat reduction, while minimizing lean mass loss in pre-specified analysis, supporting improved metabolic health in people living with obesity. Available at: . Last accessed: July 2026. Boehringer Ingelheim’s novel glucagon/GLP-1 dual agonist survodutide achieved significant weight loss of 16.6% delivering meaningful metabolic improvement in people with obesity or overweight in Phase III trial. Available at: . Last accessed: July 2026. Igbuan, E.A. J. Appl. Health Sci. Med .,.2026.6(3), pp. 64–79. World Heart Federation. Obesity. 2015. Available at: . Last accessed July 2026. Attachment Boehringer headquarters

Today, Gubra releases its results for the first quarter of 2026, building on a record year in 2025. In the quarter, we advanced our Biotech business, not least shown by strong results and progress for our partnered clinical-stage obesity programs ABBV-295 (Amylin) and BI 3034701 (first-in-class triple agonist) and the submission of a clinical trial application for our lead internal obesity asset GUB-UCN2. We also launched a new business unit structure with the addition of Gubra Ventures – a vehicle to accelerate our biotech ambition and potential. The CRO service business improved in the quarter compared to Q4-2025 but still faces some macroeconomic headwinds. We reduce the external revenue growth outlook for the CRO business in 2026 to 0-10% (previously 5-15%). Markus Rohrwild, CEO of Gubra, said: “Following a record year, we have entered 2026 with strong momentum and delivered meaningful progress across Gubra in the first quarter. Notably, two of our partnered obesity assets, ABBV-295 and the triple agonist BI 3034701, are advancing into Phase 2 clinical development this year. Our focus remains on disciplined execution and unlocking the full potential of our complementary business units. With expanded facilities, a strengthened organization, high-value assets progressing in clinical development, a leading preclinical CRO platform, and the launch of Gubra Ventures, we are well positioned to drive our next phase of growth.” Gubra Biotech – Partner assets advancing Our Biotech R&D portfolio includes several high-value programs that made strong progress in the first quarter. Our partner AbbVie reported encouraging Phase 1 MAD data for the obesity program ABBV-295, a long-acting amylin analog, demonstrating dose-dependent and highly competitive weight loss approaching 10% over 12-13 weeks in a predominantly male, non-obese population. Notably, comparable weight loss was observed with both every-other-week and monthly dosing regimens. These results are promising, and we look forward to AbbVie advancing the ongoing Phase 1b study in obese patients, as well as initiating Phase 2 clinical development in Q3 2026. The partnered first-in-class triple agonist program for obesity with Boehringer-Ingelheim has, on the back of strong clinical results at the end of 2025, decided to progress the program to Phase 2 starting in mid 2026. This is another testimony of the strength of our peptide technology platform in generating differentiated molecules. Beyond obesity, our partner Amylyx Pharmaceuticals announced the selection of AMX0318, a long-acting glucagon-like peptide-1 (GLP-1) receptor antagonist, as a development candidate for post-bariatric hypoglycemia (PBH) and other rare diseases with IND targeted for 2027. GUB‑UCN2 – Anchor asset progressing towards first‑in‑human studies GUB-UCN2 is our lead internal program and an anchor asset with high value potential. It is based on a differentiated CRHR2-selective mechanism designed to deliver improvement of physical function and preservation or increase of muscle mass in patients undergoing incretin-based weight loss treatment. In February 2026, we submitted a clinical trial application (CTA) in Germany for a comprehensive Phase 1/2a trial designed to evaluate safety, tolerability, pharmacokinetics and preliminary efficacy of GUB-UCN2 with a particular focus on muscle volume and muscle function endpoints. The trial is designed to enroll approximately 188 participants, including healthy volunteers and individuals living with obesity (with and without related co-morbidities), and will investigate GUB-UCN2 as monotherapy and in combination with incretin-based therapy in selected cohorts (treatment period up to 16 weeks in selected cohorts). As we finalize operational preparations for study initiation and continue our engagement with regulatory authorities, the timeline for first patient first visit (FPFV) has been adjusted and is now expected in H2 2026 (previously H1 2026). Accordingly, the previously announced GUB-UCN2-focused Capital Markets Day, initially planned for June 30, 2026, will be rescheduled to take place after FPFV, enabling a more comprehensive and informative discussion of the study design and overall development strategy. Gubra Venture – Our biotech value accelerator In the first quarter, Gubra established Gubra Ventures as a focused biotech venture creation engine to leverage internal strengths in lean, asset-centric structures. Led by Zoë Johnson, Gubra Ventures is designed to strengthen Gubra’s innovation potential by providing additional “shots on goal” while maintaining clear strategic and financial discipline. Gubra Ventures will enable exploration of new disease areas and technologies beyond the immediate focus of Gubra Biotech and Gubra CRO, leveraging Gubra’s established scientific and technology edge and platform. By building biotech companies that are rooted in our core strengths, Ventures is expected to both deepen market intelligence and help shape future strategic priorities. Gubra CRO business – Improving in an uncertain macroeconomic environment Gubra’s CRO business continues to operate in an uncertain macroeconomic environment particularly affecting smaller biotech clients. Despite this, the business is resilient, supported by long-standing relationships with large pharmaceutical companies and strong reputation for quality, speed and scientific insight. During the first quarter, revenue grew 26% compared to Q4 2025 and we continue to invest and expand the business into new therapeutic areas, including women’s health and sarcopenia. Key financial highlights for Q1 2026 *Not applicable due to change in business segments per 1 January 2026. Please note that Q1 2025 is not directly comparable due the new business unit setup from 1 Jan 2026. Biotech business – financial results Revenue in the first quarter of 2026 amounted to DKK 28.0 million for the Biotech business compared to revenue of DKK 6.9 million in Q1 2025. The increase was primarily due to revenue recognition related to a collaboration and development agreement with Amylyx Pharmaceuticals. EBIT amounted to DKK -39.2 million in Q1 2026 compared to DKK -54.2 million in the first quarter of 2025. The improvement was driven by higher revenue. CRO business – financial results External revenue in the first quarter of 2026 amounted to DKK 47.7 million. In addition to this, internal sales to the Biotech unit amounted to DKK 7.4 million as part of the new business segments setup from 1 January 2026. External revenue for the CRO business improved compared to last quarter of 2025 that had external revenue of DKK 37.9 million, but slightly down compared to the first quarter of 2025 with external revenue of DKK 50.6 million. The revenue driver in Q1 2026 was the obesity area and by customer segments revenue from big pharma customers increased vis-à-vis Q1 2025 while revenue from smaller biotech companies declined. EBIT amounted to DKK 0.2 million in Q1 2026 compared to DKK 10.8 million in Q1 2025. The decline in EBIT was a result of lower revenue. Ventures business – financial results In the first quarter of 2026, Gubra established Gubra Ventures as a new business unit. In Q1 2026, EBIT for the Ventures business was DKK -1.7 million. Gubra Green business – financial results The Gubra Green business resulted in EBIT of DKK -0.6 million in Q1 2026 compared to EBIT of DKK -0.2 million in Q1 2025. The purpose of this segment is to perform green investments, currently containing transition of conventional farmland to forest and nature as well as establishment of solar and battery park. Outlook for 2026 CRO external revenue growth in 2026 vs. 2025 is reduced to 0-10% (previously 5-15%) and in addition internal sales to the Biotech business is expected at around DKK 50 million in 2026 (unchanged). Our EBIT margin expectation for 2026 is reduced to 10-15% (previously 20-25%). For Biotech, expectation for total costs is unchanged at DKK 330-360 million. * Announced 27 February 2026 Conference call A presentation for analysts and investors will be held today 6 May at 10:00am CET. The event will be hosted by the company’s CEO Markus Rohrwild, CFO Kristian Borbos, CSO Louise S. Dalbøge, Head of Ventures Zoë Johnson, Head of CRO, Trine Nygaard Hamann and Chief Medical and Development Officer, Thomas Langenickel. The presentation will be held in English. To participate in the conference, please register here to receive the dial-in details: https://player.videosync.fi/hca/2026-05-06-gubra-q1/dial-in The presentation can also be followed live via the: https://hca.videosync.fi/2026-05-06-gubra-q1/register It will also be possible to access the audiocast afterwards at the same abovementioned link. Contacts at Gubra Media: Marianne Thomas (mho@gubra.dk, +45 2483 2663) Investors: Kristian Borbos (kbo@gubra.dk, +45 3080 8035) and Emma Jappe Lange (ejl@gubra.dk, +45 5361 6755) About Gubra Gubra, founded in 2008 in Denmark and listed on NASDAQ Copenhagen, is a disease-agnostic techbio company specialized in peptide-based drug discovery and preclinical contract research services. Gubra’s activities are focused on the early stages of drug development and are organized in three main business units – Biotech, CRO, and Ventures. The business areas create a unique entity capable of generating a steady cash flow from the CRO business while investing in high-impact biotech R&D projects with significant value inflection potential through partnerships. Gubra has around 300 employees and had revenue of DKK 2.6 billion (around $400 million) in 2025. See www.gubra.dk for more information. Chapters descriptions off, selected captions settings, opens captions settings dialog captions off, selected This is a modal window. Beginning of dialog window. Escape will cancel and close the window. End of dialog window.