Calgary, Alberta--(Newsfile Corp. - August 13, 2024) - Marvel Biosciences Corp. (TSXV: MRVL) (OTCQB: MBCOF), and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce it has entered a collaboration with the FRAXA Research Foundation to test its lead asset MB204 in a preclinical model (FMR1) of Fragile X syndrome (FXS).

Autism and FXS are closely related, often sharing clinical symptoms (e.g., developmental delays, challenges in social interactions, repetitive behaviors, and sensory sensitivities) and genetic mutations (e.g., FMR1). FXS is a one of the most common causes of inherited intellectual disability affecting approximately 1 in 4000 males and 1 in 8000 females. These genetic and clinical ties suggest that treatments for FXS are likely to help people with autism, Alzheimer's and other brain (neurological) conditions.

The FRAXA Research Foundation is a not-for profit organization that promotes awareness of Fragile X and supports independent pre-clinical testing of potential therapeutics through a battery of standardized tests in mouse models of FXS. FRAXA intends to test Marvel's lead asset MB204, an adenosine A2a receptor (A2aR) antagonist through its internal screening program this year. FRAXA previously identified BPN14770, which is currently in Phase 3 trials for Fragile X, initially developed by Tetra Therapeutics and later acquired by Shionogi. Of note, there is currently no approved drug to treat FXS.

"We are very interested in testing MB204 in our independent laboratories for two primary reasons," said Dr. Mike Tranfaglia, the Medical Director and co-founder of FRAXA. "First, MB204 is a novel fluorinated derivative of the approved anti-Parkinson's Disease drug Istradefylline, the latter having already been shown to be active in Fmr1 mouse models of autism. Second, MB204 has completed its pre-clinical toxicology studies and cGMP manufacturing and is at the ready for clinical testing."

"We are very grateful to be able to collaborate with FRAXA to test MB204 in their mouse models of FXS," commented Dr. Mark Williams, Chief Scientific Officer of Marvel Biosciences. "We believe MB204 is a novel potential treatment for FXS and other forms of autism spectrum disorder."

About Marvel Biosciences Corp.

Marvel Biosciences Corp., and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based pre-clinical stage pharmaceutical development biotechnology company that utilizes a "drug redevelopment" approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified which involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought, as the new potential asset is developed by the Company. The Company believes the business model results in significantly less risk, cost and time to develop its assets compared to traditional biotechnology companies.

Marvel Biotechnology Inc. has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression & anxiety, Alzheimer's, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.

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All information contained in this news release with respect to the Company and its subsidiary, (collectively, the "Parties") were supplied by Marvel, respectively, for inclusion herein and each parties' directors and officers have relied on each other for any information concerning such Party.

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The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the above events on the terms will occur and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.