Molecure Third Quarter 2022 Pipeline Highlights and Financial Results

• OATD-02 is an oral, potent and selective first-in-class, dual arginase inhibitor (ARG1 and ARG2) for the treatment of cancer
• Following CTA approval, Molecure plans to initiate a Phase I clinical trial at the end of 2022 to assess safety of OATD-02 in patients with advanced and/or metastatic solid tumors. The planned trial has already received a positive opinion from the bioethics committee in Poland
• Publication* (August) entitled, "OATD-02 Validates the Benefits of Pharmacological Inhibition of Arginase 1 and 2 in Cancer"
  - This is the first study validating the benefits of pharmacological inhibition of ARG2 in cancer and demonstrates that OATD-02 is a potent dual ARG1/ARG2 inhibitor with cellular activity (necessary for targeting ARG2) and exhibiting immunomodulatory and direct antitumor efficacy in animal models
  - https://www.mdpi.com/2072-6694/14/16/3967

Further development of mRNA platform

• Continued development of platform, as Molecure applies a range of analytical techniques to confirm the secondary structure of 6 most promising target regions
• Ongoing collaborations with global leading RNA centres to further leverage the company's expertise and alternative approach to identify compounds interacting with selected mRNA regions

Partnering events and investor conferences

• Post period end, CEO, Marcin Szumowski and business development director, Nicolas Beuzen attended partnering conference Bio-Europe in Leipzig, Germany in October. The event brought together thousands of outstanding biopharma companies enabling meaningful partner discussions
• The company will attend a number of partnering and investor events before the end of 2022 including the Jefferies Healthcare conference in London in November, the largest healthcare conference held in Europe each year

Third Quarter Financial Highlights

• Operating income totaled PLN0.24 million, a slight decrease yoy due to lower subsidies booked from public grants compared to the same period in 2021.
• Operating expenses totaled PLN3.49 million, an increase of PLN1.26 million. This was mainly due to higher R&D costs as the company's pipeline advances, the cost of external services, wages and rebranding activities.
• Net loss for the 3 months ended 30 September 2022 totaled PLN2.46 million.
• As of September 30, 2022, Molecure had cash of PLN80 million (US$16 million).
• Current funds are expected to fund the company's operating expenses and capital expenditure requirements for the next 18-20 months.
• US$/PLN exchange rate 5.0 as of 30 September 2022

For further information, please contact:

Molecure S.A. (PR & IR)   
Marta Borkowska 
Email: m.borkowska@molecure.com
+(48) 728 728 143

MEDiSTRAVA Consulting (Financial PR)   

Frazer Hall, David Dible, Sandi Greenwood, Eleanor Perkin
molecure@medistrava.com
+44 (0)203 928 6900

About Molecure

Molecure is a clinical stage biotechnology company that uses its world leading medicinal chemistry and biology capabilities to discover and develop first-in-class small molecule drug candidates that directly modulate the function of underexplored protein and RNA targets to treat multiple incurable diseases.

Molecure has generated a diverse pipeline of eight distinct programs with the support of leading academic life science institutions globally, including Yale University, Rutgers University, the Flemish Institute for Biotechnology (VIB) in Ghent, the University of Michigan and the International Institute of Molecular and Cell Biology in Warsaw (IIMCB).

Molecure's most advanced in-house drug candidate is OATD-01, a first-in-class dual chitinase inhibitor for the treatment of interstitial lung diseases, such as sarcoidosis and idiopathic pulmonary fibrosis, that is Phase II ready. A Phase II trial in patients with sarcoidosis is expected to start in 2023.

Our second proprietary candidate is OATD-02, an oral, potent and selective first-in-class, dual arginase inhibitor (ARG1 and ARG2) for the treatment of cancer, which is expected to advance to Phase I clinical development in the second half of 2022.

Molecure's headquarters and laboratories are located in Warsaw, Poland with an additional laboratory facility in Łódź. The company is listed on the Warsaw Stock Exchange (ticker: MOC).

For more information, please visit https://molecure.com/pl/

LinkedIn: Molecure| Twitter: @molecure_sa | YouTube: Molecure SA

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SOURCE Molecure SA