SHORTWAVE LIFE SCIENCES PLC

("Shortwave" or "the Company")

Shortwave Life Sciences Achieves Major Milestone: Positive Pre-Clinical Results Drive Combination Drug for Anorexia Toward Human Trials

London, 19 September 2024 - Shortwave Life Sciences (AQSE: PSY), a pioneer in mental health innovation, has achieved a significant breakthrough in its journey to transform the treatment landscape of eating disorders. The Company is thrilled to announce positive safety results from its latest pre-clinical pharmacodynamics study, demonstrating the safety of its proprietary psilocybin-based drug combination at elevated doses.

In collaboration with Science in Action, an expert pre-clinical GLP-certified lab in Israel, the study tested the safety of buccal administration of Shortwave's combination drug comprised of psilocybin and a beta carboline.

The study involved three groups of rats given varying doses of the combination drug (0.23ml, 0.5ml, and 1ml), with results showing no adverse effects, weight changes, or behavioral changes following the psychedelic effects. All subjects remained healthy and unaffected during the trial, marking a strong foundation for future clinical development.

Key Highlights of the Study:

    •    No adverse events or vital sign changes were reported across all groups.

    •    Safety profile confirmed for the psilocybin-based combination drug at elevated doses.

    •    Reaffirmation of Shortwave's buccal delivery platform's efficiency, targeting mental health challenges including eating disorders and anorexia nervosa.

CEO Rivki Stern Youdkevich stated, "This is a monumental step forward for Shortwave. Our relentless pursuit of breakthrough mental health treatments comes with the responsibility of ensuring safety at every stage. We are proud of the positive outcomes from this rigorous pre-clinical trial, further validating our patent-pending drug combination and buccal delivery system. With this success, we are reaffirmed in our approach to addressing the global mental health crisis."

This achievement comes on the heels of the International PCT Examining Committee's recent acknowledgement of Shortwave's patent claims for its novel, non-obvious, and industrially applicable mucoadhesive buccal film. Designed for rapid absorption and bypassing liver and gut degradation, the platform holds transformative potential for patients facing metabolic and psychiatric challenges.

This milestone continues to drive Shortwave to the forefront of innovation, reinforcing the Company's commitment to addressing unmet medical needs in mental health with cutting-edge therapeutic approaches, in the field of eating disorders.

As the Company gears up for human trials, investors are encouraged to stay tuned for further advancements that could reshape the mental health treatment landscape.

About Shortwave Life Sciences:

Shortwave Life Sciences is a developer of breakthrough therapies addressing unmet medical needs in mental health. The Company is committed to the advancement of innovative solutions through drug development, with a mission to pioneer 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.

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

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