Vancouver, British Columbia / September 29, 2020 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8), is pleased to announce that it’s US subsidiary, Advanced Proteome Therapeutics Inc. (“APTI”), is rapidly advancing two projects with the near-term potential to add significant shareholder value.

As previously announced, APTI’s scientists have identified multiple compounds with high predicted affinity for the main SARS-CoV-2 protease which exceed the affinity of all published candidate viral protease inhibitors known to APTI and has filed patents to protect our inventions. We have now successfully synthesized the first of these, and over the next two weeks will ramp up production to quantities suitable for testing. The initial proof of concept testing will be done in-house, and we expect results from this testing to be available within the next two weeks. We then plan to proceed with further testing in an academic or government laboratory with proven capability to perform cell culture and in vivo testing of these compounds in a validated SAR-CoV-2 model.

We are also making rapid progress on our previously announced collaboration with Dr. Brian Zeglis at the City University of New York to test APTI’s site specific conjugation technology in the rapidly growing field of antibody radioisotope conjugates (ARCs) with antibodies targeting the HER2 receptor. We now have internally generated initial data demonstrating that the homogeneity of the completed conjugate using APTI technology is superior to the one using industry standard chemistry. We have shipped our conjugate to the Zeglis Lab where they will confirm that we have maintained affinity to the HER-2 receptor. We will then proceed to radiolabeling, PET imaging and evaluation of in vivo bio-distribution.

Dr. Benjamin Krantz, Director of APTI commented “we continue to execute on our development programs. We have synthesized our first macrocyclic molecule for testing as a treatment of COVID-19. Macrocyclic structures have improved target specificity and stability which we expect to lead to more favorable properties for our compounds. We are looking forward to reporting in vitro and in vivo results as they become available. Regarding our ARC collaboration, we have once again shown that APT conjugation site specifically and homogeneously labels all antibodies we have attempted, in this case with radiochelator. We look forward to side by side comparison of in vivo biodistribution as compared to standard conjugation chemistry. A positive result would continue to demonstrate that our conjugation chemistry improves ADC and ARC biophysical characteristics relative to current standards with potential to lead to better, safer, more efficacious therapeutic and imaging candidates.”

The company is not making any express or implied claims that its product 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 Corporation
Paul Woodward
President and CEO
Tel: (604)690-3797
https://www.advancedproteome.com

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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.