Lobe Sciences Ltd.

VANCOUVER, British Columbia & STUART, Fla.--( BUSINESS WIRE )-- Lobe Sciences, Ltd. ("Lobe Sciences" or the "Company") (CSE: LOBE), (OTCQB: LOBEF) and Alera Pharma, Inc. (“Alera” or “Alera Pharma”) , biopharmaceutical companies focused on developing products to treat diseases with significant unmet medical needs, today announce that a second patent allowance for Conjugated Psilocin™ has been received. The patent application is entitled “Stable Psilocin Salts, Esters, and Conjugates and Uses Thereof”. This application contains claims covering compositions comprising a psilocin mucate salt or conjugate and methods for their production and use in conditions treatable with psilocin. Lobe Sciences will assign the intellectual property rights associated with this patent to Alera Pharma, its wholly owned subsidiary. Mr. Rick Goulburn, CEO of Alera Pharma, Inc. stated, “we are excited to receive this allowance for a second patent on Conjugated Psilocin™ which recognizes the unique properties of this psilocin analogue invention. We are proceeding with our fund-raising activities to develop Conjugated Psilocin™ for the treatment of Chronic Cluster Headache.” Dr. Fred Sancilio, Chairman and CEO of Lobe Sciences also commented, “As we continue to gather more data on Conjugated Psilocin™, we realize that this new chemical entity may enable us to develop a wide range of applications.” He continued, “Conjugated Psilocin™ is a stable form of psilocin, the active metabolite of psilocybin with attractive pharmacokinetics including rapid and reproducible absorption. Both these attributes may make this active ingredient superior to psilocybin itself.” About Conjugated Psilocin ™ Conjugated Psilocin™ is a patented, novel, oral, stable analogue of psilocin, the active metabolite of the prodrug psilocybin. Psilocybin is a psychedelic compound that has been identified as having therapeutic potential in a variety of neurological conditions. Psilocybin is dephosphorylated to the active moiety psilocin with poor bioavailability and pharmacokinetics. Psilocin itself is a very unstable compound that has been difficult to develop as a pharmaceutical medicine. Conjugated Psilocin™ is a stable, highly bioavailable pharmaceutical ingredient with the potential to be developed as a prescription medicine in a variety of neurological disorders. About Lobe Sciences Ltd. Lobe Sciences, Ltd. is a commercial stage biotechnology company focused on developing transformative therapies for unmet medical needs. Through its subsidiaries, Alera Pharma, Inc. and Altemia, Inc., Lobe Sciences is developing patented drug candidates to treat chronic cluster headache (Alera) and innovative medical foods to address deficiencies commonly seen in sickle cell disease (Altemia). Lobe Sciences provides common services to its subsidiaries including accounting, finance, and general administrative services. About Alera Pharma, Inc . Alera Pharma, Inc. is a wholly owned and private subsidiary of Lobe Sciences, Ltd., dedicated to the development and commercialization of innovative pharmaceutical products. With a focus on addressing unmet medical needs, Alera Pharma is committed to improving patient outcomes in a variety of neurological disorders through cutting-edge research and development. Cautionary Statement Regarding "Forward-Looking" Information This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation: the additional coverage provided by the new patent; the anticipated assignment of the intellectual property rights associated with the new patent; the expected fund-raising activities of the Company; and the Company’s beliefs regarding potential applications of Conjugated Psilocin™, are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that: once issued, the new patent will provide additional coverage for psilocin mucate compositions; that Lobe Sciences will assign the intellectual property rights associated with the new patent to Alera Pharma; that the Company will proceed with its expected fund-raising activities, and that the proceeds therefrom will be used to develop Conjugated Psilocin™ for the treatment of Chronic Cluster Headache; and that Conjugated Psilocin™ may enable the Company to develop a wide range of applications. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that: the Company will not receive a second patent for Conjugated Psilocin™; that the new patent will not provide additional coverage for psilocin mucate compositions; that Lobe Sciences will not assign the intellectual property rights associated with the new patent to Alera Pharma, or at all; that the Company will not proceed with its fund-raising activities, or that the proceeds from the Company’s fund-raising activities will not be used to develop Conjugated Psilocin™ for treatment of Chronic Cluster Headaches; and that Conjugated Psilocin™ may not enable the Company to develop a wide range of applications. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

VANCOUVER, British Columbia--( BUSINESS WIRE )-- Lobe Sciences, Ltd ("Lobe Sciences" or the "Company") (CSE: LOBE), (OTCQB: LOBEF) , a biopharmaceutical company focused on developing products to treat diseases with unmet medical needs, today announced that is has formed a wholly owned U.S. subsidiary named Alera Pharma, Inc. (Alera). Alera will be assigned the intellectual property rights focused on the Company’s neurological assets and its new chemical entity Psilocin Mucate. Mr. Rick Goulburn has been appointed as the Chief Executive Officer of Alera. Dr. Fred D. Sancilio will be Chairman of its Board of Directors and be joined on the board by Dr. Harry Jacobson, Mr. Wesley Ramjeet and Mr. Goulburn. Alera will be the operating company within the Lobe Sciences group focused on neurology and will join Altemia, LLC as the second operating subsidiary of Lobe Sciences. It is expected that the Company’s Australian subsidiary, Lobe Sciences Australia Pty Ltd., will become a subsidiary of Alera. Mr. Ilan Hayman will become a member of the executive management team of Alera. Dr. Sancilio, Chairman and CEO of Lobe Sciences said, “At present, Lobe Sciences has a complex corporate structure. By establishing Alera Pharma, we are simplifying the operations of the Company into just three entities. Lobe Sciences, Ltd will provide common services to the two operating subsidiaries - Alera and Altemia, LLC. The creation of two separate operating companies will allow each entity to create value within their respective therapeutic areas; neurology and hematology.” The Company also announces the receipt from the US PTO of a Notice of Allowance for its U.S. Patent Application Serial No. 18/411,576. About Lobe Sciences Ltd. Lobe Sciences is a biopharmaceutical company focused on developing medicines to treat diseases with unmet medical needs. The Company, through collaboration with industry-leading partners, is engaged in novel research and development focused on treating chronic cluster headache (an orphan disease), refractive anxiety, and sickle cell disease. The Company is engaged in Phase 1 and Phase 2 activities in its drug portfolio, and intends to initiate the launch of Altemia ® , a medical food designed to meet the needs of sickle cell patients globally. Cautionary Statement Regarding "Forward-Looking" Information This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance, including, without limitation: the composition of the management team of Alera and the ownership of Lobe Sciences Australia Pty Ltd., are forward-looking statements and contain forward-looking information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should” or “would” or occur. Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this press release, including, among other things, that: the management team of Alera will be appointed as currently expected and that Lobe Sciences Australia Pty Ltd. will become a subsidiary of Alera as currently anticipated. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Important risks that may cause actual results to vary, include, without limitation, the risk that: the management team of Alera will be appointed differently as currently expected and that Lobe Sciences Australia Pty Ltd. will not become a subsidiary of Alera as currently anticipated. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws.

Company Exploring Alternative Value Creation Opportunities Convertible note for $500,000.00 USD, Short-term Debt Reduced and Balance Sheet Strengthened to Prepare the Company for Long Term Funding Strategy Annual General Meeting Set for 22 July 2024 VANCOUVER, British Columbia--(BUSINESS WIRE)-- Lobe Sciences Ltd. (OTCQB: LOBEF) (CSE: LOBE) ("Lobe" or the "Company"), a biopharmaceutical company focused on developing transformative medicines to treat diseases with unmet medical needs and rare diseases announced the evaluation of strategic alternatives to improve shareholder value. Lobe Sciences has been exploring strategies to enhance shareholder value. Among these are evaluations of alternatives including up-listing opportunities, for example listing on the Australian Securities Exchange for which an Application in Principle was received recently or New York Stock Exchange. In addition to the up-listing opportunities the Company is exploring out-licensing strategies. Our program is focused on identifying ways to maximize value recognition for our proprietary assets especially L-130 and Altemia. The Company does not believe that the current market valuation fairly reflects the value of the significant scientific achievements that have been accomplished. The Company plans a series of market communications to Stakeholders that highlight the significant scientific achievements in clinical, preclinical and manufacturing. The Company closed a Convertible Note with two major partners, Clearway Global, LLC and Quality Chemical Laboratories, Inc. to fund $500,000.00 to bridge Lobe Sciences to a larger funding round anticipated toward the end of 2024 or early 2025. The note will be funded in two tranches, the first will be used to eliminate critical accounts payable and the second will be used to fund legal and accounting cost associated with strategic alternatives. The Company has implemented an aggressive program to convert short term debt to long term convertible debt in addition to securing this new Convertible loan thereby improving the balance sheet significantly. Lobe CEO, Philip Young, commented; "As we review the psychedelic market, it is clear that L-130 is a differentiated compound with a very unique pro seen in any other product. We will pursue every avenue to ensure our share value is reflective of the potential of our science." Lobe owns a patent protected analogue of psilocin, the active moiety of psilocybin with demonstrated long term shelf-stability, believed to be a first in the industry. Nonclinical and clinical work in 2023 have defined the significant therapeutic opportunities for L-130, as a daily, non-hallucinogenic therapeutic intervention for the millions that suffer from neurological disorders. Dr. Fred Sancilio, a Board candidate, and CEO of Clearway Global and is the Head of Lobe’s Clinical Development Programs commented “We look forward to continuing our work with Management refining the strategic direction aimed at creating shareholder value. This alignment will keep the Company focused on what is critical for our growth which must be the creation of value for all stakeholders including investors, management and ultimately patients who will use our drug products.” The Company will provide further updates as we continue to evaluate strategic opportunities. Shareholders are advised that there is no certainty, or guarantee, that alternate listings or other events will occur. 2024 ANNUAL GENERAL MEETING In support of ordinary business, the Company will conduct an Annual General Meeting on 22 July. About Lobe Sciences Ltd. Lobe Sciences is a biopharmaceutical company focused on developing transformative medicines to treat rare diseases. The Company, through collaborations with industry-leading partners, is additionally engaged in drug research and development using non-hallucinatory doses of stabilized psilocin based compounds to address unmet medical needs in orphan neurological therapeutic applications. NEITHER THE CSE NOR ITS REGULATION SERVICES PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE. This does not constitute an offer to sell or a solicitation of offers to buy any securities. Forward Looking Statements This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact included in this news release (including, without limitation, statements regarding the future plans and objectives of the Company, research and development using psychedelic compounds, and the development of innovative devices and delivery mechanisms to improve mental health and wellness) 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. Readers are cautioned that assumptions used in the preparation of the forward-looking statements may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including changes to the regulatory environment; that the Company's drug research and development activities may be unsuccessful; that drugs and medical devices produced by, or on behalf of, the Company, may not work in the manner intended or at all, and may subject the Company to product liability or other liability claims; that the Company may not be able to attain the Company's corporate goals and objectives; and other risk factors detailed in the Company's continuous disclosure filings from time to time, as available under the Company's pro . As a result, the Company cannot guarantee that any forward-looking statement will materialize and the reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made only as of the date of this news release and the Company does not intend to update any of the included forward-looking statements except as expressly required by applicable Canadian securities laws. View source version on businesswire.com: Contacts For further information: Lobe Sciences Ltd. Investor and Media info@lobesciences.com Tel: (949) 505-5623 Source: Lobe Sciences Ltd. View this news release online at: