Dr. Chris Savile reports

WILLOW ANNOUNCES CANCELLATION OF PREVIOUSLY ANNOUNCED NON-BROKERED OFFERING TO PURSUE LESS DILUTIVE ALTERNATIVES

Willow Biosciences Inc. will not be proceeding with the non-brokered private placement offering announced by the company on Nov. 18, 2024, and will instead pursue an alternative financing and non-dilutive transaction to support the capital requirements of Willow.

"We have made the decision to cancel our existing offering to pursue a less-dilutive alternative financing and the sale of our commercial rights on one or more later-stage programs," said Dr. Chris Savile, Willow's president and chief executive officer. "Willow has been approached by multiple third parties to acquire the royalty rights on two development programs and is in late-stage negotiations for one of the programs," continued Dr. Savile.

About Willow Biosciences Inc.

Willow develops biomanufacturing processes for producing high value ingredients in pharmaceutical, food and beverage, agriculture, and consumer markets. Willow's FutureGrown and BioOxi platforms enable large-scale production with sustainability at its core. Willow's R&D (research and development) team has a proven record of developing and commercializing bio-based manufacturing processes and products to benefit the company's B2B (business-to-business) partners and their customers.

We seek Safe Harbor.