Mr. Ken d'Entremont reports

MEDEXUS COMPLETES AGREEMENT TO RETURN US COMMERCIALIZATION RIGHTS FOR GLEOLAN TO NX DEVELOPMENT CORP.

Medexus Pharmaceuticals Inc. has recently completed an agreement with NX Development Corp., the licensor of Medexus's rights to Gleolan in the United States, to terminate the licence, supply and distribution agreement between the parties and return responsibility for Gleolan in the United States to NX Development as of a date no later than March 31, 2025. Under the terms of the termination agreement, Medexus will receive an agreed per-unit amount on units of Gleolan sold by NX Development through June 30, 2025, that approximates the product's past per-unit contribution to Medexus during the term of the now-terminated agreement, which will reduce Medexus's royalty payment to NX Development for fiscal year 2025, due in June, 2025.

"We are pleased to have successfully arrived at a mutually acceptable arrangement regarding transition of responsibility for Gleolan in the United States," said Ken d'Entremont, Medexus's chief executive officer. "We view this outcome as fair to Medexus and its stakeholders without compromising future availability of Gleolan for the eligible patients who need it. We wish the NXDC team all the best in their future endeavours with this product."

Additional information about the terms of the agreements discussed in this news release, including copies of the relevant documents, is or will be included in the company's filings on SEDAR+. The summary in this news release is qualified by reference to the terms of each such document as applicable.

About Medexus Pharmaceuticals Inc.

Medexus is a leading specialty pharmaceutical company with a strong North American commercial platform and a growing portfolio of innovative and rare disease treatment solutions. Medexus's current focus is on the therapeutic areas of hematology-oncology and allergy, dermatology and rheumatology.

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