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Novel Nanomedicine Platform With Pipeline Of Antivirals Goes To Human Trials – What Other Viruses Could This COVID Treatment Target?

NanoViricides, Inc.

By David Willey, Benzinga Read the latest report on NanoViricides here. NanoViricides (NYSE American: NNVC) has begun trials for its new drug candidate, NV-CoV-2 — an exciting development for the biotech company, as it starts its first human trials with drug sponsor Karveer Meditech Pvt. Ltd. India, the company’s licensee and co-developer in India. NanoViricides has been building out a novel nanomedicine platform for many years, and this platform now includes a pipeline of multiple preclinical antiviral drugs. The Company is developing antiviral medications that are built on the company’s patented nanoviricide technology. Nanomedicine has a lot of promise, but there are almost no nanomedicines available on the market to treat viral infections. Because of prior acquired expertise, NanoViricides’ first-in-class COVID drug, NV-CoV-2, took just about one year to complete IND-enabling studies, from the discovery stage in January 2020. As a small company with a novel mechanism implemented using out-of-the-box technologies, it took the Company much longer time to actually start clinical trials. Now that it has this regulatory experience, additional drug developments should not take such a long lag time. “We believe these clinical trials are an important milestone not only for NanoViricides and Karveer Meditech, India, but also for the advancement of treatments against all viral infections worldwide,” said Dr. Anil Diwan, President and Executive Chairman of NanoViricides. NanoViricides’ Treatment Of Coronaviruses The company’s first drug candidate is NV-CoV-2, a broad-spectrum, anti-coronavirus treatment. Other companies have developed treatments for COVID-19, These include Molnupiravir from Merck & Co. (NYSE: MRK), Paxlovid from Pfizer Inc. (NYSE: PFE) and Remdesivir from Gilead Sciences, Inc. (NASDAQ: GILD). However, there are limitations or drawbacks to each of these treatments. As a broad-spectrum anti-coronavirus drug, NV-CoV-2 has been shown to work against a variety of unrelated coronaviruses. This suggests that different strains or mutations are unlikely to escape the drug. Several common coronavirus strains include hCoV-229E, hCoV-OC43, hCoV-HKU1, and hCoV-NL63, which recur seasonally. Of these, NL63 and OC43 present with pneumonia similar to the delta COVID variant in susceptible patients, leading to fatalities at rates that are comparable to seasonal influenza. Now, SARS-CoV-2 with its variants is added to this list as a commonly occurring coronavirus. A Nanomedicine Platform For Other Viruses The trials for NV-CoV-2 are part of the company’s development of a novel platform technology employing nanoviricides. The NV-CoV-2 drug contains NV-387, a first-in-class chemical nanomedicine, and its unique mechanism of action (MoA) doesn’t rely on the patient’s immune system to destroy the virus. The Company says that NV-387 mimics an attachment receptor family to which over 90% of known viruses bind, and NanoViricides hopes that NV-387 will likely be a clinically effective drug against at least a few of these viruses. The Company has said that it has begun R&D work to expand the indications of NV-387 to other viruses. By bringing NV-CoV-2 to human trial, NanoViricides has demonstrated the platform’s capability to deliver a clinically relevant antiviral. After the Phase 1 studies are completed, the safety and tolerability data will be applicable to any other viruses that the Company targets using NV-CoV-2, assuming it can demonstrate pre-clinical success. Then NV-387 can directly enter Phase 2 as an antiviral against such additional viruses — which would likely mean significant cost and time savings for the additional indications, and substantial improvement in the return on investment (ROI) for the Company with commensurate benefits to the investors. The Company is not a “one-trick pony” either. It already has NV-HHV-1, a drug to treat shingles rashes, that has completed pre-clinical studies. The company believes its platform could provide treatments for a host of viruses, including other herpesviruses (cold sores, genital ulcers, and many other serious diseases), as well as influenza and HIV. This would position NanoViricides at the intersection of multiple growing treatment markets. The herpes treatment market was worth $1.5 billion in 2022 and is predicted to grow at a compound annual growth rate (CAGR) of 9.2% over the next seven years. The influenza market is expected to reach $1.2 billion by 2026, while the HIV market is predicted to reach $36 billion by 2027. For now, however, the company is keeping laser-focus on the development of NV-CoV-2 for treating COVID-19 and long COVID. Its current trial will test the drug’s safety and efficacy, and the data will be used to prepare for phase 2 trials. “NV-CoV-2 is aimed at satisfying the as-yet-unmet medical need of a highly effective broad-spectrum, anti-coronavirus drug that can be used for all patient populations,” said Diwan. “Moreover, it brings into the clinic a novel platform technology of attacking viruses to develop highly effective antiviral drugs.” Learn more about how NanoViricides is tackling different viruses by visiting its website. About NanoViricides NanoViricides, Inc. (the "Company") (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The Company's novel nanoviricide® class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. Our lead drug candidate is NV-HHV-101 with its first indication as dermal topical cream for the treatment of shingles rash. In addition, we are developing a clinical candidate for the treatment of COVID-19 disease caused by SARS-CoV-2 coronavirus. The Company cannot project an exact date for filing an IND for this drug because of its dependence on a number of external collaborators and consultants.The Company is now working on tasks for completing an IND application. The Company is currently pursuing two separate drug candidates for the treatment of COVID-19 patients. NV-CoV-2 is our nanoviricide drug candidate that does not encapsulate Remdesivir. NV-CoV-2-R is our other drug candidate that is made up of NV-CoV-2 with Remdesivir encapsulated in it. The Company believes that since Remdesivir is already US FDA approved, our drug candidate encapsulating Remdesivir is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead. The Company has developed both of its own drug candidates NV-CoV-2 and NV-CoV-2-R independently.The Company intends to re-engage into an IND application to the US FDA for NV-HHV-101 drug candidate for the treatment of shingles once its COVID-19 project moves into clinical trials, based on resources availability. The NV-HHV-101 program was slowed down because of the effects of recent COVID-19 restrictions, and re-prioritization for COVID-19 drug development work.The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides' platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus, Ebola/Marburg viruses, and certain Coronaviruses. The Company intends to obtain a license for poxviruses if the initial research is successful. The Company's technology is based on broad, exclusive, sub-licensable, field licenses to drugs developed in these areas from TheraCour Pharma, Inc. The Company's business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details NanoViricides, Inc. +1 203-937-6137 info@nanoviricides.com Company Website http://www.nanoviricides.com

July 11, 2023 09:25 AM Eastern Daylight Time

Scancell Holdings "well-financed" and continuing to pursue deals

Scancell Holdings PLC

Scancell Holdings PLC (AIM:SCLP, OTC:SCNLF)'s chief executive Professor Lindy Durrant speaks to Thomas Warner from Proactive to provide an update on the clinical stage biopharmaceutical company's progress and financial position. Durrant starts by highlighting that Scancell has "plenty of money" before going into more detail about what's been happening with its two lead compounds, SCIB1 and Modi-1. She also touches on progress in the relationship with Genmab since signing a commercial licensing agreement last year, and clarifies that Scancell is continuing to pursue other such deals: "We've just signed an evaluation with a new company... and we're in current discussions with a second company about another potential deal." She adds that the company is "well financed" with a runway extending into the second half of 2024, but makes it clear that the continued emergence of promising clinical data could make a fundraise necessary - saying that "clearly a company of our size always needs to think about that as we go forward." Contact Details Proactive UK Ltd Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

July 11, 2023 06:51 AM Eastern Daylight Time

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MGC Pharmaceuticals "pushing on" after announcing fresh $1mln order

MGC Pharmaceuticals Ltd

MGC Pharmaceuticals Ltd (LSE:MXC, OTC:MGCLF, ASX:MXC) chief commercial officer Robert Clements speaks to Thomas Warner from Proactive after the Europe-based plant-inspired medicine company announced it has secured a US$1mln order from AMC Pharma for ArtemiC, an anti-inflammatory that is also shown to provide benefits to Covid sufferers. Clements gives an overview of the order and of the ArtemiC product, explaining that its "the OTC form of CimetrA, which is under development as an FDA new drug indication file." In March 2023, MGC Pharma revealed that ArtemiC had gained a spot on the National Drug Code Database as an OTC Unlicensed Drug, approved by the US FDA. Clements says that "we are pushing on as fast as we can and I think you'll hear more good news about some aspects of one or more of those products in the weeks and months ahead." MGC Pharmaceuticals says on its website that ArtemiC has been tested for safety and efficacy in a double-blind, placebo-controlled clinical trial of 50 patients diagnosed with COVID-19. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

July 11, 2023 06:23 AM Eastern Daylight Time

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HLHS Is A Rare And Serious Congenital Heart Disease With A 33% Neonatal Death Rate — Could Longeveron’s Lomecel-B Improve Outcomes?

LONGEVERON INC.

By David Willey, Benzinga Longeveron (NASDAQ: LGVN) announced the results of its phase 1 trial for infants with a rare and serious congenital heart disease (CHD), known as hypoplastic left heart syndrome. The Company, which is now conducting its phase 2a trial, is a clinical-stage biotechnology firm working to develop treatments for rare diseases and age-related and life-threatening conditions. CHDs are the most common congenital disease, affecting around 40,000 babies born in the U.S. every year. While many CHDs can be medically managed, 25% are much more serious and often require immediate surgical intervention. As a result, CHDs are a leading cause of death for infants. An increase in critical CHDs is powering growth in the newborn screening market, which is expected to reach $3 billion in 2031, growing at a compound annual growth rate (CAGR) of 11.2% from 2021 to 2031. Longeveron is working to develop a treatment for one of the most severe CHDs, hypoplastic left heart syndrome (HLHS). HLHS is a very serious heart defect in which the left side of the heart is underdeveloped and unable to provide normal blood circulation through the heart. HLHS accounts for 2-3% of all CHDs, with around 1 in every 3,800 US babies being born with HLHS every year. HLHS is considered a rare pediatric disease, and Longeveron has received a Rare Pediatric Disease Designation from the FDA for Lomecel-B. Children with HLHS require 3 different open-heart surgeries to allow survival, but even with these surgeries, many of the children will go on to need a heart transplant. Despite the increasing sophistication of these surgeries, the neonatal death rate for HLHS is 33%, and the 5-year survival rate is only 50-60%. HLHS treatments are also expensive, costing the average neonatal hospital stay over $280,000. Longeveron Completes Phase 1, Starts Phase 2 Longeveron is focusing on HLHS with its cell-based therapy, the drug candidate, Lomecel-B ™. This drug, which is made from medicinal signaling cells (MSCs), will be a potential combinational therapy delivered via intracardiac injection during the second neonatal open-heart surgery. The goal of adding Lomecel-B ™ is to boost the function of the single ventricle, with the ultimate goal of reducing the need for transplantation and possibly increasing survival. The Company concluded its open-label phase 1 trial on 10 patients, aged four to five months, and followed these children for a period ranging from 3.5-5 years. The one-year trial’s results were published in the European Heart Journal Open, and revealed that all the patients had responded well to the procedure and were transplant-free one year after the treatment. None of the babies experienced a pre-defined safety endpoint, and the procedure was well tolerated. “This data supports our hope that Lomecel-B TM has the potential to alter the treatment landscape for patients with HLHS, a rare and life-threatening congenital heart disease,” said Wa’el Hashad, Longeveron’s Chief Executive Officer. “Notably, the procedure appeared to be generally safe and well-tolerated in the babies undergoing heart surgery in the first 6 months of life. The study provisionally shows suggestions of possible improvement in measures of cardiac function, findings that are presently being tested in our ongoing controlled and randomized Phase 2 study.” Dr. Joshua Hare, who co-authored the European Heart article, is the co-founder of Longeveron and is an established leader in the field of cardiac treatment. He recently published a second article on HLHS, which described the current status of treatments for HLHS and outlined the future direction of the field. The article identifies Lomecel-B ™ as the first-in-class MSC therapy to reach the trial stage. Longeveron is moving forward with its phase 2 trial in partnership with the National Heart, Lung, and Blood Institute and the trial is being conducted at 8 leading pediatric cardiac surgical programs. This randomized, blind, controlled study with 38 patients will evaluate Lomecel-B’s ™ intracardiac injection for both safety and efficacy. Future positive results could position Longeveron as a leader in the field, with the hope of saving the lives of many infants through this novel therapy. Keep up to date with Longeveron’s cell-based therapies on its website www.longeveron.com. We are a clinical-stage biotechnology company developing cellular therapies for aging-related and life-threatening conditions.Our lead investigational product is Lomecel-B™, which is derived from culture-expanded medicinal signaling cells (MSCs) that are sourced from bone marrow of young healthy adult donors. We believe that by using the same cells that promote tissue repair, organ maintenance, and immune system function, we can develop safe and effective therapies for some of the most difficult diseases and conditions associated with aging. This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Christine Petraglia - TraDigital IR +1 844-470-2550 christine@tradigitalir.com Company Website https://longeveron.com/

July 07, 2023 09:00 AM Eastern Daylight Time

RDW Group Recognized with Three Industry Bell Ringer Awards

RDW Group

RDW Group is proud to announce it has won three Bell Ringer Awards for exemplary PR, communications, and marketing work completed in the last year. Each year, the PR Club hosts the Bell Ringer Awards Ceremony to celebrate outstanding work conducted by industry professionals, agencies, and in-house teams throughout the New England region. The 2023 awards ceremony was held on Thursday, June 8 at the Royal Sonesta Boston. During the event, RDW was recognized for its work with multiple clients and across multiple categories, including: Silver Bell – Healthcare Campaign, “Substance Exposed Newborns Awareness and Provider Outreach” with the Rhode Island Department of Health Silver Bell – Integrated Marketing Communications Campaign, “It Happens Right Here” with Rhode Island PBS Merit award – Integrated Marketing Communications Campaign, “Recycle PVD” with Rhode Island Resource Recovery Corporation “Winning a Bell Ringer Award signifies one of the highest levels of achievements for New England communicators,” said Sofia Giovannello, PR Club president and managing supervisor of Methods+Mastery. “Year after year, we see incredible work reflected in the quality of entries. On behalf of everyone at PR Club, we congratulate all the winners!” "RDW is once again proud to represent each of our clients in the 55 th annual Bell Ringers Awards,” said Phil Loscoe, Jr., managing partner of RDW Group. “It is their drive and dedication to make our world a better place – through healthcare, education and culture, and environmental stewardship – which brings these campaigns to life and ultimately drives positive change. Congratulations to our client teams and RDW internal teams on their continued work and success. Very well deserved.” View the full list of all 2023 award recipients here. About RDW Group, Inc. Founded in 1986, RDW Group is a full-service agency offering advertising, public relations, digital marketing, and media services based in Providence, R.I. RDW also operates iFactory, an award-winning web strategy, design and development group based in Boston. More info at www.rdwgroup.com. About PR Club Founded in 1948, PR Club (formerly the Publicity Club of New England) strives to promote and encourage involvement in the communications industry and specifically the professions of public relations, promotions, and marketing. Get additional information about monthly PR Club programs, social and networking events, the “Bell Ringer” blog, and the Bell Ringer Awards Ceremony at www.prclub.org. Follow them on Twitter @PRClubofNE. Founded in 1986, RDW Group is a full-service agency offering advertising, public relations, digital marketing, and media services based in Providence, R.I. RDW also operates iFactory, an award-winning web strategy, design and development group based in Boston. More info at www.rdwgroup.com. Contact Details Michael Masseur +1 401-521-2700 mmasseur@rdwgroup.com Company Website https://rdwgroup.com

July 06, 2023 09:30 AM Eastern Daylight Time

NanoViricides Inc. (NYSE American: NNVC) Begins Long-Awaited Clinical Trials For Its Anti-Viral Nanomedicine NV-CoV-2, Oral, Amid Continuing Need For COVID Treatment

NanoViricides, Inc.

By David Willey, Benzinga Read the latest report on NanoViricides here. NanoViricides (NYSE American: NNVC) is a drug development company working on a novel nanomedical treatment. It recently updated the world on the status of its long-awaited and now active trials into its lead drug candidate, NV-CoV-2. “NV-CoV-2, the Company’s lead drug candidate for the treatment of coronavirus infections including COVID and potentially many cases of long COVID, has entered human clinical trials initiated by the Drug Sponsor Karveer Meditech Pvt. Ltd. India, the Company’s Licensee and co-developer in India,” announced the Company. NanoViricides is developing cutting-edge nanomedicine treatments, which use their special nanomicelles’ ability to directly attack and destroy the virus particles. To do this, the nanoviricides mimick the receptor site on the cell to which the virus binds. No matter how many variants develop, this site remains the same, so the virus is unlikely to escape the nanoviricide drug. The Company’s drug candidate NV-CoV-2 uses the company’s patented nanoviricide platform technology, which uses novel mechanisms to fight COVID-19 and potentially all other human coronaviruses. The Need For A Lasting Coronavirus Treatment As the company races to develop its leading drug, there remains a significant need to develop safe and lasting treatments for COVID-19 and other coronaviruses. It has been estimated that by the end of the four-year period from January 2020 to December 2023, the COVID-19 pandemic will have cost the American economy up to $14 trillion. Furthermore, it is estimated that 65 million people still suffer from “long COVID,” the continuation of coronavirus symptoms for months after clinically the infection itself has subsided. Symptoms of long Covid can range from mild to severe, and the case numbers of those with long Covid are continuing to increase. Could NV-CoV-2 Be Used For Future Pandemics? Then there are the risks of other coronaviruses and future pandemics. A prediction from the disease research group Metabiota, says that there is a 47% - 57% likelihood that another pandemic as serious as COVID-19 could occur within the next 25 years. This is why NanoViricides believes it is important to develop a drug that is safe and effective for treating a wide range of patients. Its drug candidate NV-CoV-2 has oral formulations for milder cases and an injectable solution for more severe patients. The company is focusing its attention on treatment for COVID-19 for now, but the innovative nanomedicine could even be a broad-spectrum antiviral for treating diseases beyond COVID-19. “We believe these clinical trials are an important milestone not only for NanoViricides and Karveer Meditech, India, but also for the advancement of treatments against all viral infections worldwide,” said Dr. Anil Diwan, Ph.D., President and Executive Chairman of the Company, explaining, “NV-CoV-2 is aimed at satisfying the as-yet-unmet medical need of a highly effective broad-spectrum, anti-coronavirus drug that can be used for all patient populations. Moreover, it brings into the clinic a novel platform technology of attacking viruses to develop highly effective antiviral drugs.” Treatments for COVID-19 currently on the market include Molnupiravir from Merck & Co. (NYSE: MRK), Paxlovid from Pfizer Inc. (NYSE: PFE) and Remdesivir from Gilead Sciences, Inc. (NASDAQ: GILD), though there are problems or limitations with each of these options, and the multi-billion-dollar market remains wide open for a new effective treatment. The overall antiviral market is projected to surpass around $71.1 billion by 2032. Learn more about how NanoViricides is tackling coronaviruses by visiting its website. About NanoViricides NanoViricides, Inc. (the "Company") (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The Company's novel nanoviricide® class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. Our lead drug candidate is NV-HHV-101 with its first indication as dermal topical cream for the treatment of shingles rash. In addition, we are developing a clinical candidate for the treatment of COVID-19 disease caused by SARS-CoV-2 coronavirus. The Company cannot project an exact date for filing an IND for this drug because of its dependence on a number of external collaborators and consultants.The Company is now working on tasks for completing an IND application. The Company is currently pursuing two separate drug candidates for the treatment of COVID-19 patients. NV-CoV-2 is our nanoviricide drug candidate that does not encapsulate Remdesivir. NV-CoV-2-R is our other drug candidate that is made up of NV-CoV-2 with Remdesivir encapsulated in it. The Company believes that since Remdesivir is already US FDA approved, our drug candidate encapsulating Remdesivir is likely to be an approvable drug, if safety is comparable. Remdesivir is developed by Gilead. The Company has developed both of its own drug candidates NV-CoV-2 and NV-CoV-2-R independently.The Company intends to re-engage into an IND application to the US FDA for NV-HHV-101 drug candidate for the treatment of shingles once its COVID-19 project moves into clinical trials, based on resources availability. The NV-HHV-101 program was slowed down because of the effects of recent COVID-19 restrictions, and re-prioritization for COVID-19 drug development work.The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. NanoViricides' platform technology and programs are based on the TheraCour® nanomedicine technology of TheraCour, which TheraCour licenses from AllExcel. NanoViricides holds a worldwide exclusive perpetual license to this technology for several drugs with specific targeting mechanisms in perpetuity for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Rabies, Herpes Simplex Virus (HSV-1 and HSV-2), Varicella-Zoster Virus (VZV), Influenza and Asian Bird Flu Virus, Dengue viruses, Japanese Encephalitis virus, West Nile Virus, Ebola/Marburg viruses, and certain Coronaviruses. The Company intends to obtain a license for poxviruses if the initial research is successful. The Company's technology is based on broad, exclusive, sub-licensable, field licenses to drugs developed in these areas from TheraCour Pharma, Inc. The Company's business model is based on licensing technology from TheraCour Pharma Inc. for specific application verticals of specific viruses, as established at its foundation in 2005. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details NanoViricides, Inc. +1 203-937-6137 info@nanoviricides.com Company Website http://www.nanoviricides.com

July 06, 2023 09:00 AM Eastern Daylight Time

Graft Polymer kicking off the second half with plant commissioning

Graft Polymer (UK) PLC

Graft Polymer (UK) PLC (LSE:GPL) independent non-executive director Alex Brooks speaks to Thomas Warner from Proactive after the polymer modification company announced the commissioning of its bespoke production equipment site in Slovenia later this month. Brooks puts the announcement in its context and describes it as "the culmination of the efforts that began with the IPO process." He also gives an overview of how the business performed during the first half of 2023 and discusses plans for the long-term future of the company. Contact Details Proactive UK Ltd +44 20 7989 0813 uk@proactiveinvestors.com

July 06, 2023 05:51 AM Eastern Daylight Time

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News Release

Spectral MD's DeepView Imaging Technology revolutionizing wound healing with Artificial Intelligence

Spectral MD Holdings Ltd

Spectral MD Holdings COO Niko Pagoulatos joined Proactive's Natalie Stoberman to share how the company plans to progress after receiving a recommendation for ISO 13485 certification. Spectral MD develops technology using predictive analytics and AI algorithms to help clinicians make more accurate and faster treatment decisions. There are no diagnostic imaging devices that provide clinicians with an objective and immediate assessment of a wound’s healing potential. Spectral MD’s DeepView Technology provides an informed solution for clinicians and allows for a clear picture of the wound to be established prior to treatment or other interventions. DeepView is a portable imaging platform that allows for immediate wound healing assessment and provides clinicians with physiological information that is not visible to the human eye. Contact Details Proactive USA +1 347-449-0879 na-editorial@proactiveinvestors.com

July 05, 2023 05:37 PM Eastern Daylight Time

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NextFerm Technologies announces a commercial manufacturing agreement for the production of ProteVin™, its vegan protein, with Kothari Fermentation and Biochem, a subcontractor in India

NextFerm Technologies Ltd.

In the first stage, the production setup will enable an annual production capacity of $4M in revenues The completion of the production setup is expected during the fourth quarter, 2023 (Yokneam Illit, July 5, 2023) – NextFerm Technologies Ltd. (TASE:NXFR), a food-tech company developing ProteVin™, a vegan, fermentation-based, non-GMO protein alternative and other innovative yeast-based nutrients, announced today that it has entered into a commercial manufacturing agreement with a subcontractor in India, Kothari Fermentation and Biochem, for the production of ProteVin™. The agreement relates only for production services and doesn’t include IP transfer to the subcontractor. The company's management has worked diligently to find a solution to establish a production setup that will be in line with its financial means, so that, in this stage, this agreement replaces the establishment of the manufacturing plant with the subcontractor in North Macedonia, and will allow the company to supply market demands with a lower investment than planned and with the ability to increase future capacity. In the first stage, the production setup will enable an annual production capacity of $4M in revenues. In addition to the production equipment that the company has purchased so far, the Company estimates that the necessary investment needed for the completion of the production setup and the purchase of the production equipment for the first stage will be approximately $2M. This investment will be financed from the company's own resources. The completion of the production setup is expected during the fourth quarter, 2023. The building in which the production facility is planned to be built already exists and has needed utilities, and most of the equipment needed to operate it has already been purchased by the company and/or is in the possession of the subcontractor and is available for the company’s use. Starting 2023, five food and dietary supplement companies in the USA and Europe have launched vegan products based on ProteVin, including Swanson, one of the leading and veteran nutritional supplement brands in the USA, Spacemilk and Mushroom Design. In the five products, the ProteVin™ brand is labeled on the packaging. The company has a wide and growing base of food and dietary supplement companies, including global companies, that are examining ProteVin for use in a variety of alternative products. In addition to ProteVin, the production facility in India will allow the company to also produce and market the by-product Yeast Extract, which is obtained in the production process of the protein. This product is an ingredient that enhances taste and flavor in the food industry. The company has developed a first generation of Yeast Extract based on a unique technology developed by the company (a yeast strain and unique processes) that contributes to the quality of the Yeast Extract products and the profitability of these products. The Yeast Extract market is estimated at approximately $1.9 Billion in global annual sales, with a growth of approximately 8.7% which is influenced, among others, by the growth of the alternative food market[1]. This is one of the most important and largest categories in the flavors market. Boaz Noy, Chief Executive Officer of NextFerm, said: "In past few months, we have focused on finding an efficient and flexible production alternative to the production facility that was planned to be established in North Macedonia, which will be in line with the company's capabilities and financial resources. The production setup that will be established in India will allow us to meet the growing demand for ProteVin, with a lower investment than planned with the ability to increase future capacity. ProteVin™ is the only alternative protein on the market today with a neutral taste and an animal-like nutritional value, and we believe it will become a leading solution in the global alternative protein industry. In addition, the company will be able to initiate the production and launch of Yeast Extract, which is a vegan food ingredient that enhances taste and flavor and with a high and growing demand in the food industry." About Kothari Fermentation and Biochem Kothari Fermentation and Biochem, traded on the Bombay Stock Exchange (BSE:KFBL.BO) is a manufacturer of baker’s yeast, Instant Yeast, Active & Inactive Dried Yeast, Cell walls, yeast extract, alcohol yeast and other yeast based products. For more information, visit the Kothari website at: www.kothariyeast.in About NextFerm Technologies NextFerm Technologies, traded on the Tel Aviv Stock Exchange (TASE:NXFR) is a food-tech company engaged in the research, development, manufacturing and marketing of innovative, functional and vegan yeast-derived, non-GMO protein alternatives for various applications in the food and food supplement markets and the growing market for animal-derived protein alternatives. NextFerm's flagship product is ProteVin™, a vegan, yeast-derived protein with animal-like nutritional value (Amino acid profile BCAA=21%, Leucine=9%, EAA=53% and high digestibility PDCAAS=1) and a neutral flavor. ProteVin™ is designed for a variety of categories in the alternative protein market, which is estimated at USD 20 billion in terms of final products and at USD 3.5 billion in terms of raw materials with an annual growth rate of above 20%, including milk and dairy substitutes, meat substitutes and additional categories such as infant nutrition, adult nutrition, and sports nutrition. The Company launched ProteVin™ and initiated marketing and supplying the product in second quarter of 2022. For more information, visit the NextFerm website at: www.nextferm.com [1] https://www.fortunebusinessinsights.com/yeast-extract-market-106656 Legal Notice Regarding Forward-Looking Statements This announcement also includes forecasts, projections, assessments, estimates and other information which refer to future events and matters, the realization of which is uncertain and not exclusively under the Company’s control (forward-looking information). The main facts and data used to support this information are facts and data regarding the current position of the Company and its businesses (including the scope of sales and levels of profitability, manpower, commercial engagements and more), facts and data regarding the current global position of the Company’s operating segments (including industry-specific financial developments, environmental regulatory developments, the competitive environment, technological developments, the reinsurance market and more), and macro-economic facts and data (including the economic situation both in Israel and around the world, yields in the capital markets, social and state developments and more), all as known by the Company when publishing this announcement. The forward-looking information included above in this announcement is significantly based upon, in addition to the existing information held by the Company, on the Company’s current assessments and expectations of future developments vis-a-vis each one of the aforementioned parameters, and the interconnectedness of each one of these developments. The Company has no certainty that its forecasts and assessments will indeed eventuate, and the Company’s operating results may be materially different than the results assessed or implicit based on that set forth above, inter alia, as a result of a change in any of the aforementioned factors. Contact Details NextFerm Technologies Ltd. Yossi Ohana - CFO +972 54-771-5893 yossio@nextferm.com Investor and Media Contact Meirav Gomeh-Bauer +972 54-476-4979 meirav@bauerg.com

July 05, 2023 03:06 PM Eastern Daylight Time

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