Mr. Philip Young reports

LOBE SCIENCES APPOINTS BAXTER PHILLIPS III, MBA AS CHIEF OPERATING OFFICER

Lobe Sciences Ltd. has appointed Baxter Phillips III, MBA, to the newly created position of chief operating officer (COO), effective immediately. The position was created to provide additional executive leadership as Lobe Sciences continues its strategic transition to a diversified, fully integrated biopharmaceutical company preparing to launch its first commercial product, Altemia, a medical food designed for patients with sickle cell anemia. Mr. Phillips will also serve as president, Altemia and Company LLC, a Lobe Sciences wholly owned subsidiary focused on treatments and support for patients with sickle cell anemia. Mr. Phillips will report directly to chairman and chief executive officer Philip J. Young. In October, 2022, Mr. Phillips was appointed to Lobe Sciences' board of directors, where he will also continue to serve the company.

"We are thrilled to bring Baxter into the company as we take these major steps forward to continue to grow and strengthen our business, broaden our product portfolio with new and exciting clinical and commercial assets, and ultimately bring these therapies and products to patients with rare diseases. We have welcomed Baxter's strategic support since he joined as a board member and we will continue to leverage Baxter's 25 years of expertise in business development, licensing, operational strategic management and commercialization. We know with his demonstrated leadership experience in the pharmaceutical industry he will be a valuable asset to the company as we continue to move forward building our rare disease portfolios," stated Mr. Young, CEO of Lobe.

"I am honoured to join Phil and the Lobe team at this juncture in our growth trajectory," commented Mr. Phillips. "Phil's leadership and drive to transform the company is inspiring. I look forward to serving Lobe and, most importantly, the patients throughout the world suffering from rare and often overlooked diseases such as sickle cell disease. Altemia has the potential to offer significant reductions in the frequency of sickle cell crises (SCC) and hospitalizations associated with SCC related pain and, based on clinical trial data, we do not expect to see the poor side effect profile associated with many of the currently available prescription drugs being marketed to treat these events associated with sickle cell. Altemia truly has the potential to significantly improve the quality of life for our friends and neighbors who suffer from sickle cell disease," concluded Mr. Phillips.

For the last 10 years of his 25 year career, Mr. Phillips has served as an executive officer, including CEO, of several multinational biopharmaceutical companies, including Cambridge Allergy (U.K.), Neurogastrx (U.S.) and Armata Pharma (AmpliPhi, multinational). Mr. Phillips has a successful history of acquiring and launching commercial products, leading multiple public and private financing campaigns, establishing cGMP (current good manufacturing practice) manufacturing, and licensing product portfolios of commercial and development-stage programs. Mr. Phillips began his career as a research scientist with Insmed (INSM) where for 10 years he held a range of leadership positions in research, licensing, finance, investor relations, and sales and marketing. He earned his MBA from the College of William and Mary and his bachelor of science in biology from Hampden-Sydney College.

About Lobe Sciences Ltd.

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

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