24 January 2023

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

MDK Oncology Antibodies Demonstrate In-Vivo Safety

Development milestone achieved

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech company focused on developing first in class medicines in the high growth, high value oncology market is pleased to announce the ROQ-A1 and ROQ-A2 Midkine ("MDK") antibody programs, targeting metastatic breast cancer and metastatic lung cancer, have successfully demonstrated in vivo safety in pre-clinical development programs carried out by leading cancer research groups.

As stated in the Company's announcement of 9 January 2023, Roquefort Therapeutics has recently signed partnership agreements and commenced pre-clinical development programs with leading academic cancer research groups at the Olivia Newton-John Cancer Research Institute (La Trobe University), Lowry Cancer Research Centre (University of New South Wales), Hawkins Laboratory Biochemistry and Genetics (La Trobe University) and the School of Medical Sciences (University of Sydney).

ROQ-A1 and ROQ-A2 are the latest patented humanised antibody medicines designed by Roquefort Therapeutics to target the novel MDK target prevalent in hard-to-treat cancers. In laboratory experiments, ROQ-A1 and ROQ-A2 bind highly specifically to the MDK receptors in cancer cells to kill cancers in vitro.

The MDK antibody programs targeting metastatic breast cancer and metastatic lung cancer commenced in Q4 2022 at La Trobe University, Melbourne in the Olivia Newton-John Cancer Research Institute and Hawkins Laboratory respectively and have now successfully reached the first pre-clinical drug development milestone. Metastatic breast cancer and metastatic lung cancer were chosen because of high patient mortality rates (~70% at five years) and prevalence of resistant MDK subtypes which can reduce effectiveness of existing therapies. Therefore, Roquefort Therapeutics is pleased that both ROQ-A1 and ROQ-A2 have demonstrated a good safety profile in validated in vivo models. These milestones were completed on schedule and within budget.

Both MDK antibody programs will now progress into in vivo pre-clinical efficacy studies to assess cancer killing ability in primary and metastatic breast cancer and lung cancer. The Company will update the market on the results of these efficacy studies as they progress.

Ajan Reginald, Chief Executive Officer of Roquefort Therapeutics, said:

"We have started 2023 with significant momentum successfully completing these initial pre-clinical development milestones on schedule and within budget. The ROQ-A1 and ROQ-A2 antibodies are valuable assets that fit the established Big Pharma paradigm of treating cancer with novel antibody therapeutics. Therefore, we are pleased that both programs have shown the good safety profile that is particularly attractive for innovative cancer medicines targeting novel targets such as Midkine. Both programs will now progress rapidly into in vivo pre-clinical efficacy testing. The siRNA, MK cell therapy and Midkine oligonucleotide programs are also progressing well and are expected to complete development milestones in Q1, which we will update the market on in due course."

-Ends-

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LEI: ‎254900P4SISIWOR9RH34

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF) is a Main Market listed biotech company developing first in class drugs in the high value and high growth oncology segment prior to partnering or selling to big pharma.

Since listing in March 2021, Roquefort Therapeutics has successfully acquired Lyramid Pty Limited, a leader in the development of medicines for a new therapeutic target, Midkine (a human growth factor associated with cancer progression), and most recently acquired Oncogeni Ltd, founded by Nobel Laureate Professor Sir Martin Evans, which has developed two families of innovative cell and RNA oncology medicines.

Roquefort Therapeutics' portfolio consists of four fully funded, novel patent-protected pre-clinical anti-cancer medicines. The highly complementary profile of four best-in-class medicines consists of:

·    Midkine antibodies with significant in vivo efficacy and toxicology studies;

·    Midkine RNA therapeutics with novel anti-cancer gene editing action;

·    STAT-6 siRNA therapeutics targeting solid tumours with significant in vivo efficacy; and

·    MK cell therapy with direct and NK-mediated anti-cancer action.

For further information on Roquefort Therapeutics, please visit www.roquefortplc.com and @RoquefortTherap on Twitter.