Dr. Salim Dhanji reports

ME THERAPEUTICS SCIENTIFIC AND CORPORATE UPDATE

ME Therapeutics Holdings Inc. has provided a corporate update and an outline of its strategic positioning within the rapidly emerging in vivo immune cell engineering and chimeric antigen receptor (CAR) space.

ME Therapeutics continues to focus its attention to scientifically validated cancer targets to develop a diverse pipeline of drug candidates to move into clinical testing. The company's pipeline candidates include therapeutic mRNAs designed to promote an anti-cancer immune response in cancers such as microsatellite stable (MSS) metastatic colorectal cancer that is currently untreatable with immunotherapy. ME Therapeutics' lead therapeutic mRNA activates an important, scientifically validated target called STING (stimulator of interferon genes), specifically in the tumour microenvironment. In a preclinical colorectal cancer model, the company's STING activator leads to the specific recruitment of immune cells into the tumour and significantly reduces tumour growth. Importantly, the company's data suggest that a single dose of its STING activator can synergize with a PD-1 checkpoint inhibitor where the PD-1 inhibitor is ineffective on its own. This could mean that providing the company's STING activator may unlock the efficacy of checkpoint inhibitors in otherwise unresponsive tumours. In addition, the company believes this candidate may solve some of the past roadblocks observed with drugs targeting STING through the targeted delivery into myeloid cells in the tumour microenvironment which could reduce systemic side effects.

The company is also continuing to make significant progress advancing its in vivo CAR pipeline. Traditional CAR-T therapies (currently approved for blood cancers) rely on an ex vivo process. This requires harvesting a patient's T-cells, shipping them to a lab, genetically modifying them and shipping them back for reinfusion. While highly effective, this process is costly, slow and complex. In vivo CAR therapy bypasses these logistical hurdles by delivering the genetic instructions directly into the patient. The patient's body becomes the factory, engineering its own immune cells to fight cancer. This approach offers the potential for off-the-shelf availability, reduced costs and broader accessibility. Recently, the investment community has recognized in vivo delivery as the next frontier in biotech and ME Therapeutics believes that targeting both myeloid cells and T cells with a single in vivo CAR may enhance efficacy of CAR therapy in solid tumours making it even more broadly applicable. The company's pipeline includes an in vivo CAR using its recently licensed CD22 nanobody asset, a CAR targeting a validated protein expressed in the tumour microenvironment in most solid tumours and a potentially universal CAR that may be used to target any cancer protein with existing antibodies. The company has made progress optimizing its CAR constructs to be functional in both myeloid cells and T cells to potentially enhance efficacy in solid tumours by reprogramming both cell types. Testing has shown that the company's CARs function effectively for myeloid cell-based killing of tumour cells and that the same CARs can lead to T-cell activation. The company's plan is to initiate in vivo testing of its optimized CARs using validated lipid nanoparticle (LNP) delivery systems in mouse cancer models in the coming weeks.

Finally, the company has been exploring the possible use of its lead antibody candidate targeting G-CSF to overcome resistance to current VEGF-inhibitors as there has been renewed interest in VEGF as a target in immunotherapy due to the recent success of bi-specific antibodies targeting PD-1 and VEGF.

To unlock additional value for existing shareholders, ME Therapeutics is continuing to work with Luckosky Brookman LLP in pursuit of a potential listing on either the Nasdaq Capital Market or New York Stock Exchange American (NYSE) and has met with several specialized investment banks to potentially assist in the process. The company continues to assess the necessary steps for uplisting and will work to meet the financial and regulatory requirements for approval. However, there is no guarantee that the company will satisfy the criteria, that an application will be accepted or as to the timing for completion of any of these steps.

"The excitement we are starting to see in the market for immune reprograming in vivo is not just a trend -- it is the necessary evolution of cancer care. By combining our deep expertise in the immune system with advanced LNP delivery from worldclass partners and validated targets such as CD22, ME Therapeutics is building a platform capable of reshaping the tumour microenvironment and democratizing cell therapy," said Salim Dhanji, PhD, chief executive officer.

About ME Therapeutics Holdings Inc.

Myeloid Enhancement (ME) Therapeutics is a publicly listed biotechnology company based in Vancouver focused on developing novel therapeutics designed to reprogramme immune cells in vivo to reshape the tumour microenvironment and to directly recognize and kill cancer cells.

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