Dr. Chris Savile reports

WILLOW ANNOUNCES A SECOND PROGRAM WITH GLOBAL INGREDIENT MANUFACTURER TO DEVELOP AN ENZYME FOR MANUFACTURING A LARGE VOLUME ACTIVE PHARMACEUTICAL INGREDIENT

Willow Biosciences Inc. has begun a second program with a leading active pharmaceutical ingredient manufacturer to develop a more sustainable, cost-effective manufacturing route for a large-volume ingredient used in a therapeutic with a global market in excess of $1-billion. This marks the second development collaboration for the two parties following the announcement of the first program on Jan. 31, 2024, where Willow has already achieved certain development goals.

Willow's collaboration partner, which currently sells the target API, has sought Willow's expertise to develop an enzyme to replace an existing complex large-scale chemical process. The development phase of this financed collaboration is expected to last approximately six months with additional milestone payments to be made for achieving defined performance targets, which could be achieved as early as 2025. This API partnership represents Willow's fourth announced commercial agreement year to date that contains milestone or other commercial payments that could be received as early as next year.

"We are excited to start a second program with this leading API manufacturer to apply our technology platform to the production of more sustainable APIs for existing, large-volume global markets," said Dr. Chris Savile, Willow's president and chief executive officer. "The ultimate goal of any successful business is to establish a long-term relationship with its partners," continued Dr. Savile.

About Willow Biosciences Inc.

Willow develops and produces precision fermented functional ingredients for the health and wellness, food and beverage, and personal care markets. Willow's FutureGrown and BioOxi platforms enable large-scale production with sustainability at its core. Willow's research and development team has a proven record of developing and commercializing bio-based manufacturing processes and products to benefit its business-to-business partners and their customers.

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