• SAT-3153 Designated for pre-IND Studies

Toronto, Ontario--(Newsfile Corp. - January 3, 2023) - Satellos Bioscience Inc. (TSXV: MSCL) (OTCQB: MSCLF) ("Satellos" or the "Company"), a drug discovery company developing small molecule therapeutics to regenerate muscle as a new approach to treating disease conditions from muscular dystrophy to aging, is pleased to announce that it has designated SAT-3153 for development towards an IND filing.

"We are thrilled to be in a position to move SAT-3153 as a novel drug development candidate ("DC") into pre-IND enabling studies in accordance with our previously announced timelines," said Frank Gleeson, President and CEO of Satellos. "Collectively, we at Satellos believe passionately that a small molecule drug with the potential to regenerate functional muscle will have many advantages and benefits for patients living with Duchenne and other muscular dystrophies. We are thoroughly committed to bringing our new treatment to them as soon as possible."

SAT-3153 is a small molecule designed by Satellos to inhibit a particular kinase protein which the company believes controls Notch polarity within muscle stem cells. The Company's scientists have previously shown that muscle stem cell polarity is compromised in Duchenne, leading to a deficit in the body's innate ability to regenerate muscle. Satellos believes this finding explains the progresive muscle destruction which characterizes Duchenne as the body cannot repair itself as intented. The Company's scientists have shown in preclinical studies that inhibiting this kinase protein target enables the modulation of polarity and muscle stem cell divisions, enhances muscle regeneration, and increases muscle mass and critically, muscle function.

"SAT-3153 is one of the numerous compounds generated by Satellos scientists that we evaluated and prioritized pursuant to our press release announcement on November 3^rd. Results from these preclinical ADME, PK and in vivo studies have given us confidence to designate and advance SAT-3153 into pre-IND development studies as a DC intended for the treatment of Duchenne muscular dystrophy and potentially other dystrophic conditions," said Phil Lambert PhD, Chief Technology Officer at Satellos. "With this milestone, we have already begun to schedule and lock-in slots with key IND-enabling service providers towards completeing our 2023 objectives."

About Satellos Bioscience Inc.

Satellos is a biotechnology company dedicated to developing life-changing medicines to treat degenerative muscle conditions. Our scientists discovered what we believe to be a previously unrecognized root cause of skeletal muscle degeneration. One which has the potential to transform how muscle disorders are treated. Our scientific founder, Dr. Michael Rudnicki, is a thought leader who discovered and has shown how muscle stem cells regulate muscle repair and growth throughout life. He has shown how defects in a process known as stem cell "polarity", which controls how muscle stem cells divide to create muscle progenitor cells, lead to a failure of muscle regeneration in Duchenne and potentially other muscle disorders. As a result of this ongoing inability to produce sufficient numbers of new muscle cells, the muscles of people living with Duchenne are unable to keep up with and repair the continuous and accumulating damage their muscles experience. Satellos' lead program is focused on developing an oral therapeutic drug (i.e., a pill) intended to correct muscle stem cell polarity and restore the body's innate muscle repair and regeneration process. We believe our unique therapeutic approach represents a potential disease modifying treatment for Duchenne and other dystrophies, offering new hope to patients. To expand our programs to other degenerative muscle conditions or disorders, Satellos has created a proprietary discovery platform, MyoReGenX™, which we utilize to identify disease situations where deficits in muscle stem cell polarity and regeneration occur and are amenable to therapeutic treatment. For more information about or to discuss potential collaborations with Satellos concerning our discovery platform and therapeutic candidates or our subsidiary Amphotericin B Technologies Inc., please contact Ryan Mitchell, Ph.D., Director - Business Development at This email address is being protected from spambots. You need JavaScript enabled to view it. or visit Satellos.com.

CONTACT:
Christina Cameron, Communications
Satellos Bioscience Inc.
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647.660.1780

Notice on forward-looking statements:

This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding Satellos and its business, which may include, but are not limited to, statements regarding the potential novelty of its drug candidates; timelines for completing and analyzing studies of potential drug candidates; its ability or intentions to prioritize and advance drug candidates; the general benefits of developing small molecules as therapeutic drugs to modulate stem cell polarity; possible advantages or attractiveness of small molecules for patients or others; its/their prospective impact on Duchenne patients and muscle regeneration generally; the utility of regenerating muscle; and Satellos' technologies and drug development plans. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, confidence in or beliefs of future performance, are "forward-looking information or statements". Often but not always, forward-looking information or statements can be identified by the use of words such as "shall", "intend", "anticipate", "believe", "plan", "expect", "estimate", "anticipate", "provide", "give us" or any variations (including negative or plural variations) of such words and phrases, or state that certain actions, events or results "may", "might", "can", "could", "would", "should" or "will" be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including risks relating to the pharmaceutical and bioscience industry, general market conditions and equity markets, economic factors and management's ability to manage and to operate the business of the Company generally. Although Satellos has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Satellos does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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