Altamira Therapeutics Business Update - May 28, 2024

Altamira Therapeutics Ltd. (Nasdaq: CYTO), based in Hamilton, Bermuda, has announced key developments in its business operations, including advancements in RNA delivery technology, potential partnerships, corporate restructuring, and financial reporting changes.

Enhancement of RNA Nanoparticle Stability

The company has made significant strides in improving the stability of RNA nanoparticles, addressing a major challenge in the handling and transport of RNA formulations. Altamira's new flow process production method has yielded OligoPhore nanoparticles that remain stable in liquid form at 4°C for at least three weeks. These formulations also exhibit resilience to shaking stress, maintaining their size, encapsulation, and activity. This advancement is crucial for transportation, as traditional lipid nanoparticles often require frozen storage, a limitation highlighted during the COVID-19 pandemic.

Covadonga Pañeda, Ph.D., Altamira’s Chief Development Officer, emphasized the importance of this development, noting that stable nanoformulations are essential for effective RNA delivery. With these improvements, Altamira aims to provide pharmaceutical and biotech partners with reliable solutions for delivering various RNA modalities to targets beyond the liver, potentially reducing transportation hurdles.

Partnering Opportunities for AM-125 Program

Altamira is actively seeking partners for its legacy asset AM-125, a nasal spray formulation of the histamine analog betahistine. Developed for treating acute vestibular syndrome (AVS), AM-125 offers an alternative to oral betahistine, which suffers from poor bioavailability. A phase 2 clinical trial in Europe showed that AM-125 was well tolerated and accelerated vestibular compensation, aiding patients in regaining balance and recovering faster. The company has invested approximately $18 million in this program.

Beyond AVS, AM-125 shows promise for other central nervous system disorders involving histamine. Independent research suggests betahistine's benefits in treating ADHD, cognitive function in dementia, memory loss, weight gain, and other conditions. Altamira’s own studies demonstrated a significant reduction in weight gain under antipsychotic treatment with intranasal betahistine. The company is in discussions with potential partners, particularly in the U.S. market, where no oral betahistine is currently marketed.

Corporate Structure Simplification

Throughout the first half of 2024, Altamira has streamlined its corporate structure to align with its focus on RNA delivery. The company partially divested its Bentrio activities, selling 51% of Altamira Medica AG, including its Australian subsidiary Auris Medical Pty Ltd. Additionally, Altamira transferred its Irish subsidiary Auris Medical Ltd. to Altamira Medica AG. The company plans to merge two subsidiaries in Basel, Switzerland, Auris Medical AG and Altamira Therapeutics AG, to form Altamira Therapeutics AG, which will serve as the core operating subsidiary.

Switch to Financial Reporting in US Dollars

In August 2024, Altamira will release its half-year financial results and business update, reporting in US Dollars for the first time. This change follows a Special General Meeting decision on October 31, 2023, to switch the currency denomination of authorized share capital from Swiss Francs to US Dollars. As Altamira’s shares are publicly listed only in the U.S. and most shareholders are U.S.-based, this change aims to improve communication with investors and the financial community.

About Altamira Therapeutics

Altamira Therapeutics specializes in peptide-based nanoparticle technologies for efficient RNA delivery to extrahepatic tissues. Its proprietary platforms, OligoPhore and SemaPhore, support siRNA, mRNA, and other RNA modalities, offered through out-licensing to pharma and biotech companies. The company’s primary programs, AM-401 for KRAS-driven cancer and AM-411 for rheumatoid arthritis, are in preclinical development. Altamira also holds a 49% stake in Altamira Medica AG, known for Bentrio®, an OTC nasal spray for allergic rhinitis. Founded in 2003, Altamira is headquartered in Hamilton, Bermuda, with main operations in Basel, Switzerland.

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