Lobe Sciences Forms Subsidiary Alera Pharma, Inc.

Lobe Sciences, Ltd, a biopharmaceutical company dedicated to developing treatments for diseases with unmet medical needs, has announced the formation of a new wholly owned U.S. subsidiary, Alera Pharma, Inc. This new subsidiary will inherit the intellectual property rights related to the company's neurological assets, including the new chemical entity Psilocin Mucate.

The leadership at Alera Pharma includes Mr. Rick Goulburn as Chief Executive Officer and Dr. Fred D. Sancilio as Chairman of the Board of Directors. Other board members include Dr. Harry Jacobson, Mr. Wesley Ramjeet, and Mr. Goulburn. Alera Pharma will operate within the Lobe Sciences group, focusing on neurology. It will join Altemia, LLC as one of the two main operating subsidiaries of Lobe Sciences. The expectation is that Lobe Sciences' Australian subsidiary, Lobe Sciences Australia Pty Ltd., will also become a part of Alera. Mr. Ilan Hayman will be joining the executive management team of Alera.

Dr. Sancilio, who is both Chairman and CEO of Lobe Sciences, explained that the current corporate structure of Lobe Sciences is quite intricate. By forming Alera Pharma, the company aims to streamline its operations into three main entities. Lobe Sciences, Ltd will provide common services to both Alera and Altemia, LLC. This reorganization will enable each subsidiary to focus on creating value in their specific therapeutic areas, which are neurology and hematology, respectively.

Additionally, Lobe Sciences has received a Notice of Allowance from the US Patent and Trademark Office for its U.S. Patent Application Serial No. 18/411,576.

Lobe Sciences is focused on developing medicines to address diseases with unmet needs. The company's research and development efforts, conducted in collaboration with industry-leading partners, are concentrated on treating chronic cluster headache (an orphan disease), refractive anxiety, and sickle cell disease. Currently, the company is engaged in Phase 1 and Phase 2 activities within its drug portfolio. It also plans to launch Altemia®, a medical food designed to meet the nutritional needs of sickle cell patients worldwide.

This strategic move to establish Alera Pharma is anticipated to bring clarity and focus to Lobe Sciences' operations, allowing the company to better allocate its resources and enhance its efforts in developing treatments for neurological and hematological disorders.