General Announcement::Press Release: iX Biopharma Commences Supply of Medicinal Cannabis Wafers to Brazil

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NEWS RELEASE

iX Biopharma Commences Supply of Medicinal Cannabis Wafers to Brazil

Xativa's export listing status on ARTG paves the way for overseas

market expansion

Singapore, 28 June 2021 - Specialty pharmaceutical company iX Biopharma Ltd (SGX:42C) ("iX Biopharma" or, "the Company") has obtained export listing status for Xativa, its CBD (cannabidiol) sublingual wafer. Xativa's inclusion in the Australian Register of Therapeutic Goods ("ARTG") list of drugs approved for export paves the way for the Company to expand its customer base beyond Australia in line with its plans to build itself into a global medicinal cannabis provider.

Available in 12.5mg and 25mg doses, Xativa is the world's first sublingual medicinal cannabis wafer developed using iX Biopharma's patented WaferiX sublingual delivery technology. The export listing on the ARTG demonstrates that the product is compliant with strict standards that apply to products supplied domestically in Australia.

Globally, the growing understanding of cannabis' unique medicinal properties has driven the transformation of attitudes towards the drug. Notably, key markets such as the US, Australia, Canada, Europe, New Zealand have rapidly announced their legalisation of cannabis over the past four years. The transition to cannabis legalisation is set to gain momentum and support the interest in and demand for medicinal cannabis.

Leveraging the export listing approval, the Company will commence supply of Xativa to Brazil, where it is collaborating with its partners to distribute and market the product to doctors and patients. The market value for medicinal cannabis is forecast to surge from US$41.5 million in 2021 to approximately US$103.5 million by 20241.

Ms Eva Tan, Chief Commercial Officer of iX Biopharma, said, "Obtaining export listing for Xativa is a significant milestone. It brings us closer to realizing our ambition of becoming a medicinal cannabis supplier to global markets. This positive development follows the timely expansion of our wafer production capacity, which will support our entry into the Brazil and other international markets. We

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expect to benefit from the sustained and dynamic growth in Brazil and are confident that this move will position us competitively to expand our footprint in markets beyond Australia."

Apart from Brazil, the Company is also pursuing partnerships with other cannabis and pharmaceutical companies, as well as wholesale and retail distributors in other markets. The Company currently supplies Xativa to patients with medical prescriptions in Australia via the Special Access Scheme and Authorised Prescriber Scheme.

About iX Biopharma Ltd

iX Biopharma is a specialty pharmaceutical and nutraceutical company listed on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST), operating a fully integrated business model from drug development to manufacturing and supply, with facilities in Australia. The Group is focused on the development and commercialisation of therapies for diseases of the central nervous system using novel, patent-protected formulations for sublingual delivery.

iX Biopharma has developed a patented drug delivery platform technology, WaferiX. WaferiX delivers drug sublingually via the mucosa for better absorption, faster onset of action and predictable effect. The WaferiX delivery platform is particularly useful for drug repurposing which is a growing trend with a global market worth over US$30 billion2. Drug repurposing is where existing approved drugs are developed into new drugs targeting different indications or a different route of administration, at a lower development cost and risk.

iX Biopharma's pipeline of products under development includes Wafermine (ketamine wafer) and BnoX (buprenorphine wafer) for pain management. iX Biopharma's drugs for the treatment of erectile dysfunction, Wafesil, a sublingual sildenafil wafer, and Silcap, have been registered in Australia and Singapore. iX Biopharma has developed Xativa, the world's first freeze-dried sublingual medicinal cannabis wafer.

The Group's nutraceuticals division, Entity Health Limited, is engaged in the development and commercialisation of nutraceutical products that address specific conditions and improve quality of life. It distributes its Entity line of nutraceutical products in Australia through more than 250 pharmacies and health food shops, in China through its flagship stores on Tmall Global and JD Worldwide, and globally through its online store.

2 https://www.intechopen.com/books/drug-repurposing-hypothesis-molecular-aspects-and-therapeutic-applications/drug-repurposing-dr-an-emerging-approach-in-drug-discovery

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1. chiahsing.yee@ixbiopharma.com

Alvina Tan

Media & Investor Relations Consultant

T: +65 9787 7267

1. alvina.tan@arkadvisors.com.sg

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President at 8 Anthony Road, #01- 01, Singapore 229957, telephone (65) 6590 6881.

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