Mr. Ian McDonald reports

BRIGHT MINDS BIOSCIENCES TO PARTICIPATE IN THE 2026 FPWR RESEARCH SYMPOSIUM AND PWS FAMILY CONFERENCE

Bright Minds Biosciences Inc. will participate in the Foundation for Prader-Willi Research 2026 Research Symposium, Oct. 7 and Oct. 8, and the PWS Family Conference, Oct. 9 and Oct. 10, at the Marriott Philadelphia Downtown.

The FPWR meeting brings together families, caregivers, clinicians, researchers and industry to share the latest in PWS research and care. Bright Minds' participation reflects the company's commitment to developing a therapy that addresses both hyperphagia and the neurobehavioural symptoms of PWS, and to keeping the PWS community closely involved as its clinical program advances.

"There is no therapy today that adequately addresses the full burden of Prader-Willi syndrome: the relentless hunger and the behavioural and psychiatric challenges that families live with every day," said Ian McDonald, chief executive officer and co-founder of Bright Minds Biosciences. "The FPWR community has shaped how we think about this disease, from the outcome measures we use to the way we design our studies. We are proud to support this year's meeting and to spend time with the families and researchers who are driving progress in PWS. Our Nova study of BMB-101 is under way. We believe selective 5-HT2C agonism has the potential to address the underlying biology of PWS rather than a single symptom."

Bright Minds' PWS program

Individuals with PWS have reduced levels of functional 5-HT2C receptors, which are central regulators of appetite, satiety and behaviour. Bright Minds is developing highly selective, Gq-biased 5-HT2C agonists designed to restore signalling through this pathway while avoiding the receptor desensitization and 5-HT2B-related cardiac liabilities that limited earlier serotonergic agents.

BMB-101 is being evaluated in Nova, a randomized, double-blind, placebo-controlled phase 2a study assessing the effect of BMB-101 on hyperphagia (primary end point: change from baseline in the hyperphagia questionnaire for clinical trials, HQ-CT), PWS-associated behaviours, and safety and tolerability over a 16-week treatment period, with an optional open-label extension.

In November, 2025, the company expanded its scientific advisory board with four global PWS experts, including Theresa V. Strong, PhD, a founding member of FPWR and its director of research programs; Jennifer L. Miller, MD, University of Florida; Elizabeth Roof, HSP, MA, Vanderbilt University; and Tania Markovic, MBBS, PhD, FRACP, Royal Prince Alfred Hospital, Sydney.

About Prader-Willi syndrome

Prader-Willi syndrome is a rare genetic neurodevelopmental disorder resulting from abnormal gene expression on chromosome 15, affecting approximately one in every 15,000 live births. The hallmark feature of PWS is hyperphagia, a chronic, life-threatening condition marked by an unrelenting feeling of hunger, obsessive thoughts about food and a lack of normal satiety. Hyperphagia is associated with serious health risks, including choking, stomach rupture and accidental death related to food seeking, as well as obesity, Type 2 diabetes and cardiovascular disease. Individuals with PWS also experience significant neurobehavioural challenges, including emotional dysregulation, compulsivity, temper outbursts and cognitive impairment. Currently available therapies address hyperphagia only; there are no approved treatments for the neurobehavioural symptoms of PWS.

Corporate update

The company also announces that it has entered into a mutual rescission and release agreement with an officer of the company rescinding the officer's prior exercise of stock options in respect of 44,500 common shares. The 44,500 shares issued on that exercise will be returned to treasury and cancelled, the aggregate exercise price will be refunded to the officer, and the options are restored on their original terms, including exercise price, vesting schedule and expiry date, under the company's share option plan. No other options are affected.

About Bright Minds Biosciences Inc.

Bright Minds is a biotechnology company developing innovative treatments for patients with neurological and psychiatric disorders. Its pipeline includes novel compounds targeting key receptors in the brain to address conditions with high unmet medical need, including epilepsy, Prader-Willi syndrome, depression and other CNS disorders. Bright Minds is focused on delivering breakthrough therapies that can transform patients' lives.

Bright Minds has developed a unique platform of highly selective serotonergic agonists exhibiting selectivity at different serotonergic receptors. This has provided a rich portfolio of NCE programs within neurology and psychiatry.

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