Mr. Philip Young reports

LOBE SCIENCES ANNOUNCES COMMERCIAL DISTRIBUTION AGREEMENT WITH PENTEC HEALTH FOR US LAUNCH OF ALTEMIA

Lobe Sciences Ltd. has entered into a commercial distribution agreement for the supply and distribution of Altemia with Pentec Health Inc. Pentec is a nationwide provider of clinical nutrition and specialty care services addressing complex needs for patients. Altemia is Lobe's proprietary formulation of emulsified docosahexaenoic acid ethyl ester (DHA) concentration designed for patients with sickle cell disease (SCD).

Under the terms of the distribution agreement, Pentec Health will receive the exclusive rights to distribute Altemia in the United States and U.S. territories. Through Pentec Health, Altemia will be available to pediatric and adult patients with SCD throughout the United States.

This agreement is the first step in the global launch of Altemia, which will be available as a medical food for the replacement of DHA in SCD patients in the United States. It is the first medical food in the United States designed specifically to support patients with SCD. Previous studies have demonstrated beneficial outcomes for patients while taking the primary component of Altemia under physician supervision, including a reduction in vaso-occlusive crises, reduction in hospital visits and improvement in critical biomarkers of inflammation.

Altemia is manufactured by the company's exclusive cGMP (current good manufacturing practices) partner headquartered in the United States. It is expected that Altemia will be available to patients in the United States by the second half of 2023.

Philip Young, chief executive officer of Lobe, commented: "We are pleased to be working with Pentec Health to provide Altemia to this underserved but significant unmet patient need in children and adults suffering from SCD. Pentec Health is extremely well positioned and experienced in the medical food marketplace, and they will ensure it reaches key health care providers and patients. Leveraging its previous success managing distribution and payer interactions in the medical food market, working with Pentec Health will ensure a smooth launch of Altemia."

Matthew Deans, CEO and president of Pentec Health, added: "In our mission to solve complex care challenges, the partnership with Lobe, to both distribute and provide patient support services for Altemia, strengthens our clinical nutrition platform and bolsters our medical food offering. This collaboration to distribute Altemia will support Lobe in their efforts to get this important treatment to patients and caregivers. With our collective efforts alongside the physician and SCD community, we anticipate making a profound impact on the lives of sickle cell disease families across the United States."

About Altemia

Altemia, a medical food, is a proprietary oral formulation of emulsified docohexanoic acid (DHA) clinically evaluated to restore DHA levels and help reduce inflammation associated with SCD.

About sickle cell disease

Sickle cell disease is a group of inherited red blood cell disorders that affect hemoglobin, the protein that carries oxygen through the body. The condition affects more than 100,000 people in the United States and 20 million people worldwide. In the U.S., SCD is most common among Black Americans, occurring in one of every 365 births. People with Middle Eastern and South Asian ancestry are also susceptible to the disease, and approximately 45 million people around the world carry a gene for the condition, which they can pass along to their children.

In SCD patients, DHA, an essential fatty acid can metabolize by interaction with HbSS hemoglobin (not normal hemoglobin) and this metabolism results in DHA deficiency. DHA deficiency causes red blood cells to become inflamed and destroyed when the membrane breaks. This error in metabolism may be corrected by taking high amounts of DHA.

Normally, red blood cells are disc-shaped and flexible enough to move easily through the blood vessels. If you have sickle cell disease, your red blood cells are crescent-, or sickle-shaped. These cells do not bend or move easily and can block blood flow to the rest of your body. The blocked blood flow through the body can lead to serious problems, including stroke, eye problems, infections and episodes of pain called pain crises.

About Pentec Health Inc.

For 40 years, Pentec Health has been an industry leader in providing patient-specific, compounded sterile medications. Pentec Health provides clinical nutrition formulations that are administered to patients in dialysis centres, and provides in-home intrathecal nursing services and complex pharmaceutical products to patients who require access outside of a hospital setting. Pentec Health has built a tradition of exceptional patient care by committing to quality, safety and innovation. Pentec Health aims to be the provider of choice for outsourced products, sterile preparations and services in the health care marketplace.

About Lobe Sciences Ltd.

Lobe Sciences is a biopharmaceutical company focused on developing transformative medicines to treat orphan diseases. The company, through collaborations with industry-leading partners, is additionally engaged in drug research and development using subhallucinatory doses of psychedelic compounds to address unmet medical needs in orphan neurological therapeutic applications.

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