Mr. Frank Gleeson reports

SATELLOS APPOINTS ANTOINETTE PAONE AS CHIEF DEVELOPMENT OFFICER AND HEAD OF REGULATORY AFFAIRS

Satellos Bioscience Inc. has appointed Antoinette Paone as chief development officer (CDO) and head of regulatory affairs. Ms. Paone brings extensive experience leading regulatory strategy from clinical development through approval, including her work on Kalydeco and Orkambi at Vertex Pharmaceuticals (Nasdaq: VRTX). She joins Satellos from Generation Bio (Nasdaq: GBIO), where she most recently served as chief operating officer.

"Bringing Ms. Paone on board to the executive team is incredibly exciting given her track record of charting the path to regulatory approval for breakthrough medicines," said Frank Gleeson, Satellos co-founder and chief executive officer. "With our two clinical studies in DMD advancing in adult and pediatric populations, the possibility of pursuing regulatory approval for SAT-3247 in the future is beginning to come into view. The appointment of Ms. Paone is not only timely, but also reflects our confidence in our expanding set of clinical data."

At Generation Bio, Ms. Paone led the company's growth from start-up to a development-ready organization, shaping key business functions, including regulatory strategy, quality, CMC, technical operations and program management. She was also part of the executive team responsible for a series of equity financings over four years, including a successful IPO (initial public offering) and a strategic partnership with Moderna. Prior to Generation Bio, she spent more than a decade at Vertex, most recently as vice-president, head of North American regulatory affairs strategy, where she led regulatory efforts for multiple novel small molecule cystic fibrosis therapies, including Kalydeco and Orkambi. Earlier in her career, she held roles at Merck & Co. and Millenium Pharmaceuticals Inc. Ms. Paone holds an MBA from Bentley College, an MS in organic chemistry from Yale University and a BS in chemistry from Fordham University.

"I feel so fortunate to join Satellos in its bold mission to change what is possible in the treatment of Duchenne muscular dystrophy and other serious and life-limiting muscle diseases with great unmet need," said Ms. Paone. "Having long-been focused during my career on bringing transformative medicines to people living with devastating diseases, I am eager to bring my perspective to Satellos as we work together to cultivate a roadmap for success."

About Satellos Bioscience Inc.

Satellos is a clinical-stage drug development company focused on restoring natural muscle repair and regeneration in degenerative muscle diseases. Through its research, Satellos has developed SAT-3247, a first-of-its-kind, orally administered small molecule drug designed to address deficits in muscle repair and regeneration. SAT-3247 targets AAK1, a key protein that Satellos has identified as capable of helping restore muscle stem cell signaling that is disrupted in DMD. By addressing the loss of dystrophin-dependent cues, SAT-3247 may re-establish the signals that support effective muscle regeneration. SAT-3247 is currently in clinical development as a potential disease-modifying treatment, initially for DMD. Satellos is also working to identify additional muscle diseases or injury conditions where restoring muscle repair and regeneration may have therapeutic benefit and represent future clinical development opportunities.

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