Marvel Biosciences Initiates Four Week Rat GLP Toxicology Study

Calgary, Alberta--(Newsfile Corp. - March 9, 2023) - Marvel Biosciences Corp. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce that it has initiated the 4-week good laboratory practice (GLP) FDA investigational new drug (IND) enabling dose-ranging rat studies for its lead drug candidate MB-204.

"This rat study, along with the GLP study on dogs, are the last two key studies we need to complete before entering phase 1 human clinical testing of our lead asset - MB-204," said Dr. Mark Williams, Chief Science Officer of Marvel Biosciences. "We are also in the final preparation stage of initiating the 4-week dose-ranging GLP studies on dogs and will update our shareholders on our progress shortly."

"We look forward to completing these two critical studies of MB-204 and entering human trials in the coming months, which is an important value-creating milestone for Marvel and our shareholders," said Rod Matheson, CEO of Marvel Biosciences. "MB-204 to date has shown very promising results, and we believe that this asset has the potential to reduce symptoms of depression and Alzheimer's, both of which are significant and growing problems. We look forward to advancing our lead asset MB-204 through human trials and playing a pivotal role in addressing this growing addressable market."

In the United States, it is estimated that one in ten senior citizens over the age of 65 suffer from dementia. MB-204 is a novel solution to Alzheimer's that has similar properties to the Food and Drug Administration-approved drug, Istradefylline. MB-204 has, through the Company's studies, proven to be more effective and longer lasting than Istradefylline in pre-clinical studies.

MB-204 is a fluorinated derivative of the U.S. FDA-approved adenosine A2a receptor antagonist, Istradefylline. Both Istradefylline and MB-204 are highly active derivatives of caffeine, the most widely consumed psychoactive drug in the world. Caffeine consumption has been associated with a reduced risk of developing Parkinson's disease, and Alzheimer's disease and improved concentration.

About Marvel Biosciences Corp.
Marvel Biosciences Corp., and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based pre-clinical stage pharmaceutical development biotechnology company that utilizes a "drug redevelopment" approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified which involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought, as the new potential asset is developed by the Company. The Company believes the business model results in significantly less risk, cost and time to develop its assets compared to 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 & anxiety, Alzheimer's, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.

Contact Information

Investor Relations:
Virtus Advisory Group
Tel: 416-644-5081
Email: info@virtusadvisory.com

Marvel Biosciences Corp.
J. Roderick (Rod) Matheson, Chief Executive Officer or
Dr. Mark Williams, President and Chief Science Officer
Tel: 403 770 2469

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