Mr. Zeeshan Saeed reports

QUANTUM BIOPHARMA RECEIVES FINAL REPORTS FOR TWO KEY STUDIES OF ITS POTENTIAL BREAKTHROUGH DRUG FOR MULTIPLE SCLEROSIS, MOVING CLOSER TO PHASE 2 CLINICAL TRIAL

Quantum Biopharma Ltd. has received two key final reports related to its potential breakthrough drug for multiple sclerosis: the 90-day oral toxicity study report and the toxicokinetic study report for Lucid-21-302 (Lucid-MS). These studies were commissioned to provide key data to support an investigational new drug application with the U.S. Food and Drug Administration for a phase-2 clinical trial in multiple sclerosis.

"We are pleased that we now have the final reports for these toxicity studies as this represents an important milestone," said Dr. Andrzej Chruscinski, vice-president, scientific and clinical affairs, at Quantum Biopharma. "These reports will be used to support Quantum's IND application to the U.S. FDA, further advancing the Lucid-MS drug development program."

Anthony Durkacz, executive co-chairman of Quantum Biopharma, added: "We are very excited about the potential of Lucid-MS as a first-in-class treatment for MS targeting demyelination. With these final reports, we move significantly closer to initiating our phase 2 trial of Lucid-MS in people with multiple sclerosis."

About Quantum Biopharma Ltd.

Quantum Biopharma is a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative and metabolic disorders and alcohol misuse disorders with drug candidates in different stages of development. Through its wholly owned subsidiary, Lucid Psycheceuticals Inc., Quantum Biopharma is focused on the research and development of its lead compound, Lucid-MS. Lucid-MS is a patented new chemical entity shown to prevent and reverse myelin degradation, the underlying mechanism of multiple sclerosis, in preclinical models. Quantum Biopharma invented unbuzzd and spun out its over-the-counter version to a company, Celly Nutrition Corp., now Unbuzzd Wellness Inc., led by industry veterans. Quantum Biopharma retains ownership of 20.10 per cent (as of June 30, 2025) of Unbuzzd Wellness. The agreement with Unbuzzd Wellness also includes royalty payments of 7 per cent of sales from unbuzzd until payments to Quantum Biopharma total $250-million. Once $250-million is reached, the royalty drops to 3 per cent in perpetuity. Quantum Biopharma retains 100 per cent of the rights to develop similar products or alternative formulations specifically for pharmaceutical and medical uses. Quantum Biopharma maintains a portfolio of strategic investments through its wholly owned subsidiary, FSD Strategic Investments Inc., which represents loans secured by residential or commercial property.

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