Advanced Proteome Therapeutics Provides Update on COVID Program

Burnaby, British Columbia--(Newsfile Corp. - August 24, 2021) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E8) ("APC" or the "Company"), reports that its US subsidiary, Advanced Proteome Therapeutics Inc. ("APTI"), is dedicating additional resources to its SARS-CoV-2 protease inhibitor program.

As previously announced, APTI's scientists identified multiple compounds with high predicted affinity for the main SARS-CoV-2 protease by in silico modeling and synthetic efforts and preliminary testing were initiated. In fall of last year, the program was deprioritized in the setting of highly efficacious vaccines entering the market and the promise that the COVID pandemic could be controlled.

As the pandemic continues on and the reality that SARS-CoV-2 is likely to be an endemic virus with new variants that elude current vaccines arising, APTI is planning to reallocate resources toward the development of SARS-CoV-2 protease inhibitors. The SARS-CoV-2 main protease is expected to be highly conserved as the virus evolves and is therefore an optimal therapeutic target.

APTI has engaged Dr. Michael Angelastro to advise on this project. Dr. Angelastro has spent over 30 years in big pharma at Sanofi and its legacy companies reaching the role of Senior Principal Scientist. Over his career, he synthesized multiple clinical candidates including cysteine and serine protease inhibitors. Cysteine protease inhibitors that he synthesized have been hits on prior screens for the SARS-CoV-2 protease.

The first step in revisiting the program will be confirming our previous hits and running an expanded screen utilizing more powerful modeling software. This will be followed by synthesizing additional compounds and testing activity on the SARS-CoV-2 main protease before proceeding with testing on live virus.

The allocation of resources to this project is being pursued in a manner that it will not have a significant impact on our core antibody-drug conjugate research and development.

Dr. Benjamin Krantz, CEO of APTI, said, "The dynamics of COVID pandemic have made it clear that SARS-CoV-2 variants will be staying with us and in time new variants will arise. Especially in the face of vaccine hesitancy and the potential for diminishing efficacy of vaccines, a therapeutic against a conserved target like the SARS-CoV-2 main protease is in great need. Therefore, now is the appropriate time to rededicate resources to this project. We have already identified hits with our prior modeling efforts, and we are excited to use more powerful tools to further validate our approach. Additionally, the engagement of Dr. Michael Angelastro as an advisor on this project will bring decades of synthetic chemistry expertise in this space and valuable insight into the project."

Dr. Michael Angelastro commented, "I am excited to be working with Advanced Proteome on this project. The approach that APT is taking has the ability to generate protease inhibitors with significantly improved activity and pharmacokinetics compared to typical small molecule approaches. I plan to apply the lessons learned from my 30 years of experience with the optimization of pharmacological properties to the structures identified by APT computer-aided drug design. The modeling to date has yielded molecules with strong predicted activity and the general approach has potential therapeutic applications beyond the SARS-CoV-2 protease. I am looking forward to contributing to the development of a platform which will be able to rapidly deliver analogs of the APT pharmacophore to inhibit protease targets of the future with a focus on viral proteases."

The Company is not making any express or implied claims that it has the ability to eliminate, cure, or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

ABOUT THE COMPANY:Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody-drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in-vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development and create shareholder value.

FOR FURTHER INFORMATION PLEASE CONTACT: Advanced Proteome Therapeutics CorporationPaul WoodwardPresident and CEO Tel: (604)690-3797http://www.advancedproteome.com^[1]

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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", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact 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 are risks detailed from time to time in the filings made by the Company with securities regulators.

Readers are cautioned that assumptions used in the preparation of any forward-looking information 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. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. 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 as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/94212^[2].

References

1. ^{^} http://www.advancedproteome.com (www.newsfilecorp.com)
2. ^{^} https://www.newsfilecorp.com/release/94212 (www.newsfilecorp.com)