Mr. Fabio Chianelli reports

PHARMATHER EXPANDS PHARMAPATCH PLATFORM INTO GLP-1 FOR OBESITY, LEVERAGING ITS KETAMINE AND PSYCHEDELIC PATCH PROGRAMS

Pharmather Holdings Ltd. has taken a new strategic initiative to expand its PharmaPatch microneedle patch platform into GLP-1 therapies for the potential treatment of obesity.

Pharmather's decision to enter the obesity market builds on the company's successful development progress with its ketamine and multiple psychedelic compounds patch programs, including preinvestigational-new-drug-enabling work and published research demonstrating controlled, sustained delivery and flexible patch design principles.

"Pharmather built PharmaPatch to solve real-world administration challenges delivering medicines in a patient-friendly form factor with the potential to support sustained drug exposure," said Fabio Chianelli, founder and chief executive officer of Pharmather. "After advancing our ketamine and multiple psychedelic patch programs, we are now applying that platform to one of the largest and fastest-growing opportunities in global health care: GLP-1 therapy for obesity. Our objective is to develop a needle-free, at-home microneedle patch designed to support long-acting delivery -- potentially up to one month from a single patch application."

Leveraging ketamine and psychedelic patch progress to accelerate platform expansion

Pharmather's ketamine and psychedelic patch programs have been designed to enable controlled and sustained delivery and to reduce administration burden, with reported results supporting extended delivery, tolerability and flexible dosing through patch size and drug loading limits. The company believes these platform capabilities are directly relevant to GLP-1 therapies, where long-term adherence and convenience are important drivers of real-world effectiveness.

A large U.S. market opportunity in obesity and diabetes

Obesity represents major and growing public health challenges in the United States. CDC reports that more than two in five U.S. adults have obesity. Industry forecasts underscore the scale of the commercial opportunity. Grand View Research estimates the U.S. obesity treatment market generated approximately $11.2-billion in 2024 and may reach approximately $48.5-billion by 2030, driven in part by GLP-1 therapies.

Potential benefits of a GLP-1 microneedle patch

Pharmather's GLP-1 PharmaPatch initiative is designed to explore a differentiated delivery approach with the potential to offer several patient and product advantages versus conventional injection-based regimens, including:

• Needle-free administration using microneedle-enhanced intradermal delivery;
• At-home convenience and a simplified patient experience;
• Sustained, controlled delivery profile intended to support consistent drug exposure;
• Flexible dosing potential through patch design variables (for example, surface area, application time and drug loading), consistent with principles demonstrated in the company's prior patch development work;
• Targeting extended-duration delivery -- potentially up to one month with a single patch application (subject to formulation optimization, preclinical results and clinical validation).

Development plan and intellectual property strategy

Pharmather plans to progress the GLP-1 PharmaPatch initiative through feasibility work and preclinical evaluation. The company is finalizing a patent application covering innovations arising from this program and expects to file the application later this month.

About Pharmather Holdings Ltd.

Pharmather is a specialty pharmaceutical company focused on acquiring and advancing assets that can be efficiently monetized to generate revenue, equity value and strategic partnerships. The company currently manages three assets: (i) KETARx portfolio of ketamine drugs and data; (ii) PharmaPatch microneedle patch platform delivering ketamine, psychedelics and GLP-1 drugs for neuropsychiatric and obesity disorders; and (iii) a 49-per-cent equity interest in Sairiyo Therapeutics Inc., which is focused on a patented oral formulation of cepharanthine for infectious diseases and cancer.

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