Mr. Tom Wellner reports

CYTOPHAGE ANNOUNCES OPERATIONAL RESTRUCTURING

Cytophage Technologies Ltd. has begun comprehensive corporate restructuring designed to streamline operations, reduce costs and preserve financial resources. The initiative will focus on identifying and targeting core strategic projects with near-term revenue potential.

As part of this initiative, the company is reducing its work force by either terminating or laying off employees at Cytophage Technologies Inc., its wholly owned operating subsidiary, resulting in the suspension of longer-term, non-core projects that do not offer immediate revenue prospects. This difficult decision allows a thorough review of the business to ensure the company is best positioned to protect its limited financial resources and to seek additional financing sources to allow it to pursue near-term revenue generating commercial opportunities.

"Decisions impacting our people are never taken lightly," said Tom Wellner, the chair of the company's board of directors. "We are deeply grateful for the dedication and contributions of our departing colleagues. This restructuring is necessary to align our resources with our highest-priority opportunities and to seek to ensure our long-term sustainability."

About Cytophage Technologies Ltd.

Cytophage is a pioneering biotechnology company dedicated to bacteriophage research, product development and commercialization.

Bacteriophages are viruses that only infect and kill bacteria. These natural killers of bacteria can overcome cellular or organism-level defences. They are nature's version of antibiotics.

Cytophage is improving bacteria's natural predators with environmental as well as genetic modifications to bring safe and toxin-free killer solutions to large addressable markets with an initial focus on animal health. As a leading bacteriophage manufacturer in Canada and powered by a large library of phage strains, Cytophage is committed to addressing the global challenge of antibiotic resistance. The World Health Organization predicts that AMR will be the leading cause of human mortality by 2050. Many countries have already banned or limited preventative antibiotic use in animal production, including 27 European Union countries, United States, Canada, Brazil, Bangladesh, India and Mexico. In addition to that, consumers all over the world are demanding organic and antibiotic-free products.

Cytophage is using its know-how and technology to advance innovative and cost-competitive products that harness the power of bacteriophages to combat bacterial infections affecting human health, animal health and food security.

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