Oslo, Norway, May 15, 2025 - Lytix Biopharma AS, a clinical-stage
immuno-oncology company, today announced its results for the first quarter of
2025. 

With strong clinical data, a clear path to Phase III, and new international
leadership onboard, Lytix is entering a defining phase. The momentum seen in Q1
2025 reflects both scientific validation and growing strategic readiness, as the
company sharpens its focus on late-stage development, partnerships, and
commercial execution. With solid operational progress and financial discipline,
Lytix is well-positioned to deliver on its ambition to bring novel
immunotherapies to patients globally.

"Developing tomorrow's cancer treatment requires the right resources and
competence over time, aligned with different needs through different phases.
With fantastic phase II results for skin cancer patients in the bank, we are now
ramping up our organization to enter the next phase of taking Lytix's lead drug
to a final phase III study and then to the market", says Dr. Øystein Rekdal, CEO
of Lytix Biopharma

Q1 2025 highlights and recent developments
-	Licensing partner Verrica Pharmaceuticals is approaching a Phase III clinical
program in treatment of Basal Cell Carcinoma (BCC). Following a positive end of
Phase II meeting with FDA, Verrica expects to announce a global development
program update, including the design of the Phase III program in mid-2025
-	Genomic and immune response data from Verrica's Phase II study also expected
in mid-2025
-	NeoLIPA study in early-stage melanoma progressing well, with eight patients
treated to date. Interim readout is expected in Q3 2025
-	All patients have completed treatment in the ATLAS-IT-05 study in advanced
melanoma. Positive interim data from this late-stage and hard-to-treat patient
population encouraging solid effects in an early-stage neoadjuvant setting 
-	Strengthening executive team and board, ramping up the organization for
commercial execution and partnership discussions
-	Significantly reduced cost base improving financial position as the
ATLAS-IT-05 study concludes 

Strategic leadership appointments to support global expansion
In Q1 2025, Lytix strengthened its executive team with the appointments of Dr.
Ahmed Bouzidi as Senior Vice President, and Brent Meadows as Chief Business
Officer, underscoring the company's commitment to international growth and
late-stage deal execution.

Dr. Bouzidi, based in Switzerland, brings over 25 years of global experience in
immuno-oncology, translational science, and regulatory affairs, with deep
insight into the European and Asian markets. Mr. Meadows, based in the U.S., is
a seasoned biopharma executive with a strong track record in commercial
strategy, licensing, and business development. Together, they bring critical
expertise to support Lytix's global partnering efforts and advance its pipeline
toward commercialization. 

At the Annual General Meeting, Lytix Biopharma elected a new Board of Directors,
bringing extensive experience in oncology, biotech partnerships, and
international commercialization. Eric Falcand was appointed as the new Chair of
the Board.

"We are very pleased to welcome both the new board members, as well as Ahmed and
Brent to Lytix" commented Rekdal. "Their solid track records in drug
development, strategy, and commercial execution internationally bring the right
experience as Lytix moves closer to market".

Disciplined financial management	
Operating expenses declined in the quarter as expected, reflecting the
near-completion of the ATLAS-IT-05 study. The company maintains a strong
financial position following the capital raise in late 2024, ensuring sufficient
runway and strategic flexibility.

Webcast details:
The results will be presented in a webcast with CEO Øystein Rekdal and CFO Gjest
Breistein today. In addition, the newly elected Chair, Eric Falcand, will be
introduced and he will share some of his views on the potential of Lytix's
unique technology.

Date: Thursday, May 15th, 2025
Time: 11:15 AM CET

Questions may be submitted in advance to: post@lytixbiopharma.com

The presentation and Q&A session will be conducted in English. You can view the
live event by registering here:
https://channel.royalcast.com/landingpage/hegnarmedia/20250515_1/

A recording will be available after the event at:
https://www.lytixbiopharma.com/financial-reports 


For more information, please contact: 
Gjest Breistein, CFO 
+47 952 60 512
gjest.breistein@lytixbiopharma.com

About Lytix:
Based in Oslo, Norway, Lytix Biopharma is a clinical-stage biotech company with
a highly novel technology based on world leading research in host-defense
peptide-derived molecules. Lytix Biopharma's lead product, LTX-315, is a
first-in-class oncolytic molecule representing a new principle to boost
anti-cancer immunity. Lytix Biopharma has a pipeline of molecules that can work
in many different cancer indications and treatment settings, both as mono- and
combination therapy.