Mr. Greg Fenton reports

ZENTEK AND TRIERA BIOSCIENCES LTD. RECEIVE $1.1 MILLION GOVERNMENT OF CANADA CONTRACT TO TEST MULTIVALENT APTAMER TECHNOLOGY

Zentek Ltd.'s wholly owned subsidiary, Triera Biosciences Ltd., has received a $1.1-million government of Canada contract to test its multivalent aptamer technology for the rapid drug discovery of therapeutics or prophylactics of highly pathogenic avian influenza (HPAI) A(H5N1).

Highlights:

• The government of Canada has identified the life science sector as a priority of the Canadian economy and is seeking advanced medical technology solutions to address continuing challenges.
• Triera was awarded a $1.1-million government of Canada R&D (research and development) contract through Innovation, Science and Economic Development Canada's (ISED) Innovative Solutions Canada (ISC) program: health advanced and emerging medical technologies.
• Triera's multivalent aptamer technology was selected for its potential to be used as a rapid drug development platform.
• Government of Canada testing partners include Health Emergency Readiness Canada (HERC) within ISED and Defence Research and Development Canada (DRDC), the science and technology organization of the Department of National Defence (DND).
• The test will help develop a prophylactic and therapeutic for HPAI A (H5N1) following the multivalent aptamer strategy that successfully produced a SARS-CoV-2 aptamer.

Triera has proven the capability of the multivalent aptamer platform by developing a universal therapeutic and prophylactic that is effective against all variants of SARS-CoV-2. The contract will allow Triera to prove the capability for developing a lead candidate for HPAI A(H5N1).

HERC is a new federal organization within ISED dedicated to protecting Canadians against future pandemics and delivering on Canada's life science and medical countermeasures readiness objectives. HERC will provide a sustained focus on advancing life science industrial capabilities and innovation to respond to health threats, building on significant achievements in the sector since 2020, including $2.2-billion that has been invested under Canada's biomanufacturing and life science strategy.

DRDC is Canada's defence science, technology and innovation leader. DRDC develops and delivers new technical solutions and advice to the DND, the Canadian Armed Forces, and safety and security communities. This is accomplished by working with partners in industry, academia, other government departments and international allies.

The contract requires Triera to develop a lead candidate for HPAI A (H5N1) within six months of the project initiation. The lead candidate will be tested for its efficacy as a therapeutic and prophylactic, along with its safety profile, by the Miller Laboratory at McMaster University.

"We are very pleased that our multivalent aptamer platform has been recognized through this ISC program testing stream. We are working with government organizations that understand the significance of our avian flu program and can promote and support further development of our technology. Upon successful completion, Triera will be eligible for further government investment and recognition from Canada and its key allies," said Greg Fenton, chief executive officer of the company and Triera.

"The potential for an avian influenza pandemic continues to grow and the consequences of a new variant, which would allow human-to-human transmission, could lead to devastating results," said Dr. Matthew Miller, Triera's adviser. "As with national security, the need for an outbreak response must be regarded as a failure to prevent."

About Triera Biosciences Ltd.

Triera holds an exclusive, worldwide royalty-bearing licence from McMaster University to use and practice all aptamer and DNAzyme uses developed through the collaboration with the Li lab by McMaster University for the next 20 years. Triera and McMaster's combined expertise and capabilities in aptamer technology offer significant potential to reduce the cost and time required for the development of new treatments.

About Zentek Ltd.

Zentek is an ISO 13485:2016 certified intellectual property technology company focused on the research, development and commercialization of novel products seeking to give the company's commercial partners a competitive advantage by making their products better, safer and greener.

Zentek's patented technology platform, ZenGuard, is shown to have 99-per-cent anti-microbial activity and to significantly increase the bacterial and viral filtration efficiency of both surgical masks and HVAC (heating, ventilation and air conditioning) systems. Zentek's ZenGuard production facility is located in Guelph, Ont.

Zentek, through its wholly owned subsidiary, Triera Biosciences, has a global exclusive licence to the aptamer-based platform technology developed by McMaster University, which is being jointly developed by Zentek and McMaster for both the diagnostic and therapeutic markets.

The company is not making any express or implied claims that its aptamer technology has the ability to eliminate, cure or contain COVID-19 (or SARS-CoV-2 coronavirus) at this time.

We seek Safe Harbor.