SHORTWAVE LIFE SCIENCES PLC

("Shortwave" or "the Company")

(Formerly "Psych Capital Plc")

Change of Name to reflect Company Focus on Meeting Growing Global Mental Health Care Challenges

Company Renaming and Rebranding as Shortwave Life Sciences Plc, Committed to Breakthrough Drug Development for Mental Health Care

Share Option Grant Update

London, 6 June 2024 - The Company, a global investment firm dedicated to advancing pioneering therapies in mental health care, announces its change of name to reflect its transformation into a developer of breakthrough therapies addressing unmet medical needs in mental health. The Company has been renamed "Shortwave Life Sciences Plc". This strategic rebranding reflects the Company's reaffirmed commitment to the advancement of innovative solutions through drug development for mental health care, including via psychedelics-based therapies, with a focus on eating disorders.

The decision to rebrand as "Shortwave Life Sciences Plc" comes following the successful acquisition of Shortwave Pharma Inc. last year, solidifying the Company's position as a leader in the development of transformative therapies. Relying on its combined finance and pharma expertise, the Company will aim to further identify and grow early stage, best-in class candidates for innovative treatments delivering impactful solutions in mental health care.

Change of name

The Company's change of name to "Shortwave Life Sciences Plc" has become effective and the new certificate of incorporation reflecting the name change has been filed at Companies House.

Website

As part of the rebranding, the Company's website will be changed to shortwavelifesciences.com and the website is expected to be live in the coming days. In the meantime the Company's current website will remain in place.

Rivki Stern Youdkevich, CEO of Shortwave Pharma Inc. acquired by the Company, and now CEO of Shortwave Life Sciences Plc, expressed her excitement about the rebrand, stating that: "The transition to Shortwave Life Sciences signifies a new chapter in our journey and recharges our commitment to innovative drug development - which we believe is the only way of finding effective treatments for the world's growing mental health care problems. By focusing on psychedelics-based therapies, we are poised to make significant strides in addressing critical unmet needs, starting with eating disorders."

Eating disorders, including anorexia nervosa, bulimia nervosa, and binge-eating disorder, represent a significant global health challenge, affecting millions of individuals worldwide and growing at an alarming rate. Shortwave Life Sciences is committed to leveraging cutting-edge drug design, novel delivery methods, and decades of drug development expertise to develop and support transformative therapies for these debilitating conditions.

Shortwave Life Sciences' proprietary drug development platform has already achieved significant milestones, including demonstrating chemistry, manufacturing, and controls (CMC), and preclinical capabilities. With studies underway to further profile the drug, the Company is on track to meet regulatory requirements for its phase 1 clinical studies.

As Shortwave Life Sciences embarks on this new chapter, it remains dedicated to its mission of pioneering breakthrough therapies that transform the landscape of mental health care. With a team of dedicated experts and a commitment to innovation, Shortwave Life Sciences is uniquely positioned to introduce and develop solutions for the complex challenges of mental health disorders worldwide.

Option Share Grant Correction

In correction to the information announced on April 5, 2024, with regards to issuance of share options to Joseph Colliver, a further 1,694,915 share options will be granted to Joseph under the existing share option scheme with effect from 4 April 2024 and will be capable of being exercised for a period of 2 years. The exercise price is 2.95 pence per share, the mid-market share price on April 4^th, 2024.

The Directors of the Company accept responsibility for the contents of this announcement.

For media inquiries, please contact:

Enquiries:

Company:

Rivki Stern:  +972 547621621

Peterhouse Capital Limited:

Corporate Adviser:

+ 44 (0) 20 7469 0930

Corporate Broker:

+44 (0) 20 7220 9797

About Shortwave Life Sciences: Shortwave Life Sciences is a pioneering mental health care company dedicated to advancing innovative solutions in drug development. With a focus on psychedelics-based therapies, Shortwave Life Sciences leverages a unique blend of pharmaceutical and financial expertise to address critical unmet needs in mental health.