Vancouver, British Columbia / November 16, 2020 – Advanced Proteome Therapeutics Corporation (“APC” or the “Company”) (TSXV: APC) (FSE: 0E8), reports that its US subsidiary, Advanced Proteome Therapeutics Inc. (“APTI”), has provided the following update on projects in progress.

APTI is pleased to report that its scientists have invented new technologies to improve the safety and performance of antibody drug conjugates (ADCs). All current ADCs continue to cause off-target toxicities through toxin activity on healthy cells. APTI’s new technologies are designed to complement APTI’s ADC conjugation technology, and further prevent toxin delivery and activation in non-target healthy cells. These technologies will provide APTI with a suite of technologies that will increase both our attractiveness as a licensor of ADC technologies and further our longer term goal of developing wholly owned best in class ADCs. A particular opportunity will arise as the first ADCs start to come off patent; these drugs continue to have both significant sales and toxicities; applying our technologies in a biobetter approach may result in increased efficacy and decreased toxicity. We expect intellectual property to be filed in the coming weeks and will provide an update and further information at that time.

As previously announced, APTI’s scientists have identified multiple compounds with high predicted affinity for the main SARS-CoV-2 protease and APTI has filed patents to protect our inventions. We have now successfully synthesized the first of these and have produced quantities suitable for testing. Initial internal testing has taken longer than expected due to issues in test method validation. In the context of the significant inventions described above and recent news of vaccines with high efficacy nearing approval, APTI has chosen to deprioritize this project. We continue to believe that SARS-CoV-2 antivirals are an unmet need and the inventions from this project continue to hold value both for SARS-CoV-2 and other applications. APTI plans to continue efforts to realize this value when resources are available. However, the above noted additions to our ADC technologies will have a far greater influence on our valuation, and thus must be prioritized.

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) is progressing as planned. We now have initial data demonstrating key characteristics of the construct built with APTI conjugation technology including superior homogeneity, consistent payload to antibody ratio, high stability and maintained antibody binding affinity. The next step of the project will be PET imaging and evaluation of in vivo bio-distribution in a single dose study. In totality, this project will provide valuable data about the impact of APTI site-selective conjugation technology on in vivo antibody behavior. This data could support development of ARCs for imaging purposes and may be inferred to apply to behavior of therapeutic antibody drug conjugates.

Dr. Benjamin Krantz, Director of APTI commented “I am extremely excited about the renewed focus of APTI on the development of better ADCs. The new technologies that our scientists have designed have the potential to generate a suite of differentiating technologies that overcome multiple limitations of current ADCs. Meanwhile, we are continuing to demonstrate the favourability of constructs using APTIs conjugation technology and look forward to in vivo results from our collaboration with Dr. Zeglis.”

Paul Woodward, CEO of the Company stated “These new technologies are exciting because, in addition to our existing conjugation technology, they further our platform and improve our ability to exploit off-patent ADCs and rehabilitate failed ADCs – significantly de-risking drug development, giving us a cheaper and faster path to commercializing our own ADCs”. 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 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.