VANCOUVER, British Columbia / Oct 16, 2024 / Business Wire / Lobe Sciences Ltd ("Lobe" or the "Company") (CSE: LOBE), (OTCQB: LOBEF), a biopharmaceutical company focused on developing products to treat diseases with significant unmet medical needs is pleased to announce the appointment of Enclave Capital and Peak Asset Management (the “Bankers”) to begin the process of raising funds to advance the development of the Company’s patented innovative pharmaceutical candidate, Conjugated Psilocin™. Lobe previously announced the creation of Alera Pharma, Inc. as an operating company to develop the drug candidate.

Dr. Fred Sancilio, Chairman and CEO of Lobe Sciences explained “With the recent issuance of our new chemical entity patent on Conjugated Psilocin™, we are preparing to move this drug candidate forward through the US FDA NDA development process as quickly and efficiently as possible. The appointment of Enclave and Peak Asset Management is an important step to being able to advance our development plans”.

About Lobe Sciences, Ltd. - Lobe Sciences, Ltd. is a commercial stage biotechnology company focused on developing transformative therapies for unmet medical needs. Through its subsidiaries, Alera Pharma, Inc. and Altemia, Inc., Lobe Sciences is developing patented drug candidates to treat chronic cluster headache (Alera) and innovative medical foods to address deficiencies commonly seen in sickle cell disease (Altemia). Lobe provides common services to its subsidiaries including accounting, finance and general administrative services.

About Alera Pharma, Inc. - Alera Pharma, Inc. is a private subsidiary of Lobe Sciences, Ltd., dedicated to the development and commercialization of innovative pharmaceutical products. With a focus on addressing unmet medical needs, Alera Pharma is committed to improving patient outcomes in a variety of neurological disorders through cutting-edge research and development.

About Enclave Capital LLC - Enclave Capital LLC is as investment banking firm specializing in the healthcare and life sciences industries. With a proven track record of successful fundraising and strategic advisory services, Enclave Capital is dedicated to helping companies achieve their financial and strategic goals.

About Peak Asset Management - Peak Asset Management is a boutique investment management firm, headquartered in Melbourne, Australia which provides private and institutional investors with access to Australia’s most attractive corporate opportunities. Peak Asset Management has a co-invest mandate aligning investor and investment qualification.

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Cautionary Statement Regarding "Forward-Looking" Information

This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation: the Company’s intention to raise funds for clinical trials, the innovativeness of Conjugated Psilocin^TM , the anticipated focus and timing or efficiency of the Company’s research and development activities; the FDA NDA process, or the potential ability to raise funds for clinical development are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur.

Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that: the Company’s planned activities will be able to create shareholder value and address serious unmet medical needs; the Company will continue to pursue its planned research and development activities, that the company will be able to raise funds among others. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that: the Company’s planned activities will be unable to create shareholder value or address the targeted unmet medical needs; the Company is unable to obtain the desired results from its current research and development activities; and the Company is unable to raise funds or to do so on the timelines anticipated.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.