Dr. Salim Dhanji reports

ME THERAPEUTICS HOLDINGS INC. PROVIDES CORPORATE UPDATES

ME Therapeutics Holdings Inc. has provided an to update investors on the progress of the company's research and development and corporate development plans.

G-CSF antibody candidate

The in-life portion of the company's first non-GLP toxicology study on the company's lead anti-G-CSF antibody candidate (h1B11-12) has been completed. Preliminary results suggest that h1B11-12 administration was safe and well tolerated in non-human primates (NHPs) up to a dose of 10 milligrams per kilogram. The next step will be to assess the pharmacokinetics (PK) of h1B11-12 in circulation in order to inform future studies. Once the PK testing is complete, the company will determine how best to proceed. In relation to future development of h1B11-12, the company has initiated conversations with regulatory consultants in order to determine key studies and data required to expedite potential clinical development.

Myeloid pro-drug candidate

The company is also planning to initiate a tumour efficacy study testing the company's two lead pro-drug candidates (D094 and D099) alone and in combination with checkpoint inhibitors. This study will test the ability of D094 and D099 to slow the growth of colon cancer in mice and will test whether D094 or D099 can synergize with checkpoint inhibitors.

Novel LNP formulation

The company has initiated discussions with potential partners and contract research organizations in order to begin the discovery and development of novel mRNA-based drugs targeting suppressive pathways in myeloid cell biology. These drugs are intended to make use of novel lipid nanoparticle technology designed to increase the delivery of mRNAs to myeloid cells in tumours. The company will provide updates as the company makes progress toward this goal.

More information on our research programs can be found in the company's non-offering prospectus dated Sept. 29, 2023, which is available under the company's page on SEDAR+.

Debt settlement

Further to the company's disclosure in its final prospectus dated Sept. 29, 2023, and its subsequently filed interim financial statements, the company has issued an aggregate of 73,333 common shares to Donaldson Brohman Martin CPA Inc. (DBM) in settlement of amounts owing for services performed by Quinn Martin, the chief financial officer of the company, prior to the company becoming listed on the Canadian Securities Exchange. Mr. Martin is a principal of DBM. The shares are subject to a hold period of four months and one day pursuant to the policies of the Canadian Securities Exchange.

The debt settlement with DBM is a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The settlement is exempt from the valuation requirement of MI 61-101 by virtue of the exemptions contained in Section 5.5(b) of MI 61-101 as the common shares of the company are not listed on a specified market and from the minority shareholder approval requirements of MI 61-101 by virtue of the exemption contained in Section 5.7(1)(b) of MI 61-101 in that the fair market value of the settlement is less than $2.5-million. As the material change report disclosing the settlement is being filed less than 21 days before the transaction, there is a requirement under MI 61-101 to explain why the shorter period was reasonable or necessary in the circumstances. In the view of the company, it is necessary to immediately close the settlement and therefore, such shorter period is reasonable and necessary in the circumstances to improve the company's financial position.

About ME Therapeutics Holdings Inc.

Myeloid Enhancement (ME) Therapeutics is an early stage Vancouver-based biotechnology company involved in the discovery and development of novel immuno-oncology therapeutics targeting immune suppression in cancer. The company's main focus is on overcoming the suppressive effects of an important class of immune cells called myeloid cells in order to enhance anti-cancer immunity.

We seek Safe Harbor.