MARVEL BIOSCIENCES LAUNCHES FORMULATION DEVELOPMENT WITH CATALENT

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Calgary, Alberta, CanadaMarvel Biosciences Corp. (TSX-V: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the “Company” or “Marvel”), is pleased to announce that it has initiated preclinical oral formulation studies for its lead compound MB-204 with Catalent Inc.

Catalent, one of the world’s largest contract research organizations, has begun development of new solid amorphous dispersion formulations of MB-204, the Company’s novel A2a adenosine receptor antagonist. A new formulation could allow the administration of even lower doses of the drug and further improve the safety of the product.

“Having a formulation ready for preclinical toxicology and clinical trials is another critical milestone the company needs to achieve in order to conduct its first-in-human studies,” said Dr. Mark Williams, chief scientific officer of Marvel. ‘Catalent is a world-class company with deep expertise in this area, and we look forward to working with them on this project.

Marvel’s lead compound active, MB-204 (“MB-204”), is being developed to help treat neurological conditions such as depression and anxiety, Alzheimer’s disease, ADHD and NASH. Marvel’s compound is a new patented fluorinated derivative of US-FDA drug approved for Parkinson’s disease Istradefylline (Nourianz). Both istradefylline and MB-204 are highly active caffeine derivatives, which act as antagonists of the adenosine A2a receptor (“A2aR”). Caffeine is the most widely consumed psychoactive drug in the world and has been linked to a reduced risk of developing Parkinson’s disease, Alzheimer’s disease and improved concentration.

On Catalent, Inc.

Catalent is the global leader enabling pharmaceutical, biotechnology and consumer healthcare partners to optimize the development, launch and supply of products throughout the lifecycle for patients worldwide. With broad and deep scale and expertise in development sciences, delivery technologies and multimodal manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer healthcare brand extensions and blockbuster medicines.

Catalent accelerates more than 1,000 partner programs and launches more than 150 new products each year. Its flexible manufacturing platforms at more than 50 global locations supply more than 70 billion doses of more than 7,000 products annually. Catalent’s the expert workforce exceeds 18,000, including more than 2,500 scientists and technicians.

Based at Somerset, New Jerseythe company generated $4 billion in revenue for its 2021 financial year. For more information, visit www.catalent.com

On Marvel Biosciences Corp.

Marvel Biosciences Corp.and its wholly owned subsidiary, Marvel Biotechnology Inc.is a Calgarypreclinical-stage based pharmaceutical development biotechnology company that uses a “drug redevelopment” approach to drug development. Historically, when a new class of drugs is developed, it is optimized for a particular target, but generally only approved for a specific disease. Often a new disease is identified that involves the same target, however, pending the remaining life of the patent, the originally approved drug may not have enough time to be commercially viable to be developed for the new indication. of the disease. Marvel is developing new synthetic chemical derivatives of the original drug approved for the new disease indication. Patent protection is sought as the potential new asset is developed by the Company. The Company believes that the business model results in significantly lower risks, costs and time to develop its assets than traditional biotechnology companies.

Marvel Biotechnology Inc. has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs that inhibit the A2a adenosine receptor with application to neurological diseases (depression and anxiety, Alzheimer’s, ADHD), and non-neurological conditions cancer and non-alcoholic steatohepatitis. Marvel is also exploring other undisclosed targets to expand its asset pipeline.

Contact:

Investor Relations:

Marvel Biosciences Corp.

Email: [email protected]

Virtus Advisory Group

J. Roderick (Rod) Matheson

Chief executive officer

Tel: 416-644-5081

Email: [email protected]

dr. Mark Williams

President and Scientific Director

Tel: 403 770 2468

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

All information in this press release regarding the Company and its subsidiary (collectively, the “Parties”) has been provided by Marvel, respectively, for inclusion herein and the directors and officers of each party have relied upon each other. on the others for any information concerning such Party.

This press release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by words such as “will”, “may”, “should”, “anticipate”, “expect” and similar expressions. All statements, other than statements of historical facts, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include other risks detailed from time to time in the Company’s filings under securities regulations.

Readers are cautioned that the assumptions used in preparing any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those anticipated due to numerous known and unknown risks, uncertainties and other factors, many of which are beyond the Company’s control. Accordingly, the Company cannot guarantee that the above events will occur under the conditions and within the time periods stated herein or at all. Readers are cautioned not to place undue reliance on forward-looking information. Such information, although considered reasonable by management at the time it was prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release and the Company will publicly update or revise any forward-looking statements included as expressly required by Canadian securities law.

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