Mr. Frank Gleeson reports

SATELLOS ANNOUNCES MANAGEMENT TEAM UPDATE

Alan K. Jacobs, MD, chief medical officer (CMO), has left Satellos Bioscience Inc. to pursue other opportunities. Satellos has engaged Jordan Dubow, MD, to lead the development of clinical trial strategy for the company's lead program in Duchenne muscular dystrophy in the role of chief medical adviser.

"On behalf of the entire Satellos team, I would like to thank Alan for his contributions to the company and wish him well in his next opportunity," said Frank Gleeson, co-founder and chief executive officer of Satellos. "My colleagues and I look forward to working with Dr. Dubow on clinical development strategy for SAT-3247. We believe his extensive expertise in drug development, including for Duchenne, clinical experience in movement disorders, and his network of key opinion leaders will be invaluable to our development efforts, and we are excited about commencing clinical trials mid-2024."

Dr. Dubow has more than 15 years of experience leading all stages of clinical drug development and has played a pivotal role on 16 new drug applications (NDAs) in the U.S. as well as numerous NDAs in Europe, Japan, Canada and Australia. He has served as a full-time or acting chief medical officer for over 10 companies including Jaguar Gene Therapy, Paragon Biosciences, Avadel Pharmaceuticals and Marathon Pharmaceuticals. Prior to becoming a chief medical officer, he was vice-president, clinical and medical affairs, at Cynapsus Therapeutics, and medical director, neuroscience clinical development, at Abbvie. Dr. Dubow is a board-certified neurologist and has more than 10 years of clinical experience in neurology and internal medicine. He received his MD and completed a neurology residency at the Northwestern University Feinberg School of Medicine. He completed a movement disorders fellowship at a Northwestern University-affiliated hospital and a vascular neurology fellowship at New York Presbyterian/Weill Cornell Medical Center.

About Satellos Bioscience Inc.

Satellos is a publicly traded biotechnology company dedicated to developing life-improving medicines to treat degenerative muscle diseases. Satellos has incorporated breakthrough research in muscle stem cell polarity into a proprietary discovery platform, called Myoregenx, to identify degenerative muscle diseases where deficits in this process affect muscle regeneration and are amenable to therapeutic intervention. With this platform, Satellos is building a pipeline of novel therapeutics to correct muscle stem cell polarity and promote the body's innate muscle repair and regeneration process. The company's lead program is an oral, small molecule drug candidate in development as a potential disease-modifying treatment for Duchenne muscular dystrophy. Satellos is headquartered in Toronto, Ont.

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