Mr. J. Roderick Matheson reports

MARVEL ANNOUNCES FINAL SHANK3 DATA: MB-204 HIGHLY EFFECTIVE AT REVERSING AUTISM BEHAVIOURS

Marvel Biosciences Corp. and its wholly owned subsidiary, Marvel Biotechnology Inc., have shared part of the preliminary data set from its preclinical Shank 3 Delta ex13-16 mouse model study (clinically manifests as Phelan-McDermid syndrome) conducted in collaboration with Dr. Julie Le Merrer and Dr. Jerome Becker at the iBraiN Institute.

The findings represent an important milestone in the development of MB-204, with the compound demonstrating the ability to normalize multiple disease-associated behavioural abnormalities. Importantly, high-dose MB-204 demonstrated broader efficacy than istradefylline, its parent compound, returning six measured behavioural end points to wild-type levels, while istradefylline failed to achieve normalization across those same measures. The results provide further evidence supporting the potential therapeutic advantages of MB-204 and reinforce the company's rationale for advancing the compound into phase 1 clinical evaluation.

The study evaluated MB-204, Marvel's lead compound (2.5 milligrams per kilogram per oral), in comparison with istradefylline (one milligram per kilogram per oral, the highest dose that does not affect locomotion). Animals were studied one to three hours after dosing. Istradefylline is a clinically approved drug for the treatment of Parkinson's disease.

Key data highlights:

• A high dose of MB-204 returned behaviour to wild-type (normal) levels on the number of nose contacts, the number of paw contacts, the mean duration of nose contacts, the mean duration of paw contacts, the number of spontaneous alternation (SPAs) in the Y-maze and the number of alternate-arm returns (AARs).
• Istradefylline did not return behaviour to wild-type levels on the number of nose contacts (p less than 0.001), the number of paw contacts (p less than 0.05), the mean duration of nose contacts (p less than 0.001), the mean duration of paw contacts (p less than 0.05), the number of spontaneous alternation in the Y-maze (p less than 0.001) and the number of alternate arm returns (p less than 0.01).
• Both a high dose of MB-204 and istradefylline reduced the number of grooming episodes (a repetitive behaviour) and the number of same-arm returns in the Y-maze (SARs; also a repetitive behaviour) to normal levels.
• A low dose of MB-204 returned behaviour to normal levels on the mean duration of nose and paw contacts, the number of grooming episodes, and on the number of SPAs, AARs and SARs in the Y-maze. On other end points, the low dose performed similarly to istradefylline.

"We are very pleased with the results," commented Marvel chief science officer Dr. Mark Williams, "which confirms the efficacy of MB-204 as a potential first and best-in-class treatment for autism. We look forward to testing MB-204 for the first time in patients as we prepare for our phase 1 clinical trial."

Significance of the Shank3 preclinical model

The Shank 3 Delta ex13-16 model is particularly relevant to Marvel's development program given its association with Phelan-McDermid syndrome, a rare genetic neurodevelopmental disorder frequently characterized by autism-related symptoms and behavioural abnormalities. Evaluating MB-204 in this model provides an opportunity to investigate its activity across multiple behavioural domains associated with genetically defined forms of autism. The breadth of behavioural improvements observed in this study, together with the comparative results against istradefylline, adds to the growing preclinical rationale for MB-204 and supports further investigation of its potential across autism and related neurodevelopmental conditions.

Shank3 preclinical study -- video demonstrations

To further illustrate the study findings, the company has made available three video demonstrations providing visual insight into the Shank3 preclinical model and the observed effects of MB-204. The videos include: (1) a video demonstrating normal behavioural interactions in wild-type (control) mice; (2) a demonstration of Shank3-associated behaviours in the preclinical model; and (3) a demonstration of the effects of MB-204 on Shank3-associated behaviours, highlighting the observed behavioural improvements following treatment.

Marketing engagements

The company also announces expanded investor awareness and digital marketing initiatives as it advances its lead drug candidate, MB-204, toward phase 1 clinical trials. With MB-204 progressing toward an important clinical development milestone, the company is expanding its communications reach to increase awareness of its scientific platform, development progress and potential therapeutic opportunities among a broader investment audience.

The company announces that it has engaged Outside The Box Capital Inc. (OTB) of Oakville, Ont., as part of its awareness efforts to provide digital communications services under a marketing services agreement dated Oct. 22, 2026, with services and promotional activity to commence on or after Oct. 22, 2026. Under the OTB agreement, OTB will distribute company content, including video, and conduct investor communications on social media. The agreement has a term of two months, from Oct. 22, 2026, to Dec. 21, 2026. For its services, the company has agreed to pay OTB a total cash fee of $50,000, plus applicable taxes. OTB and its principals are arm's length from the company and do not have any interest, direct or indirect, in the company or its securities, nor do they have any right or intent to acquire such an interest. OTB can be contacted at 2202 Green Orchard Place, Oakville, Ont., L6H 4V4, by e-mail at jason@outsidethebox.capital, or by telephone at 289-259-4455. The OTB service agreement is subject to acceptance by the TSX Venture Exchange.

The company announces that it has engaged Investing News Network (INN) (Dig Media Inc.) to provide digital campaigns and other investor relations activities on behalf of the company dated Oct. 30, 2026, with the campaign commencing on or around Oct. 30, 2026, and continuing for a six-month period, or until the inventory is finished, and will not automatically renew. INN has been providing independent news and education to investors since 2007 on the Investing News website. The services may include news distribution and promotional content through e-mail, social media and other digital channels to a targeted investor audience, including company profile, lead generation, content channels, press release syndication, news marketing, ads, notifications and interviews distributed across INN's channels and YouTube, and articles distributed through syndicates. In accordance with the terms and conditions of the INN service agreement and as consideration for the services provided by INN, the company has agreed to provide INN with a cash fee of $45,000. INN and its principals are arm's length from the company and do not have any interest, direct or indirect, in the company or its securities, nor do they have any right or intent to acquire such an interest. INN's business is located at Suite 1200, 736 Granville St., Vancouver, B.C., V6Z 1G3, Canada, and the e-mail contact is info@investingnews.com and its phone number is 604-688-8231. The INN service agreement is subject to acceptance by the TSX Venture Exchange.

About Marvel Biosciences Corp.

Marvel Biosciences is a Calgary-based pharmaceutical development biotechnology company entering phase 1 clinical stage. The company is developing MB-204, a novel fluorinated derivative of the approved anti-Parkinson's drug istradefylline, the only clinically approved adenosine A2a antagonist. A significant and growing body of scientific evidence suggests drugs that block the adenosine A2a receptor, such as MB-204, could be useful in treating other neurological diseases such as autism, depression and Alzheimer's disease. The company is actively investigating its potential in addressing other neurodevelopmental disorders, such as Rett syndrome and fragile X syndrome, to expand its therapeutic reach.

We seek Safe Harbor.