Noxopharm : Appendix 4D and Half Year 2022 Financial Report

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Noxopharm Limited (ASX:NOX) | ASX Announcement | 21 February 2022

Noxopharm Reports Half Year FY 2022 Results

Sydney 21 February 2022: Australian clinical-stage drug development company Noxopharm Limited (ASX:NOX) is pleased to release its Financial Report for the half year ended 31 December 2021 today.

Dr Gisela Mautner, CEO & MD of Noxopharm stated "As incoming CEO, it is pleasing to report that Noxopharm is in a strong cash position with a number of promising programs underway. Our Clinical Portfolio, investigating the combination of Veyonda® with established cancer treatments, is tracking to plan. It is also important to note the relationships we have secured with national and international partners such as Hudson Institute of Medical Research and the US National Cancer Institute, as well as several prestigious clinical study sites in the USA.

Our pre-clinical work looking into molecules with potential applications in aggressive cancers continues, and we are making good progress in work relating to chronic inflammation and RNA technologies. We are well funded to drive these programs and will update the market as milestones are met."

Financial Highlights

Noxopharm is in a strong cash position of A$22.6m due to continued judicious expenditure in the best interest of the Company and its shareholders.

• Includes $5.9m R&D tax incentive for FY21 received in January 2022, which is non-dilutive funding for the Company.

There has been increased investment in R&D of $8.3m (1HFY20: $3.0m) to advance the clinical trial programs, drug discovery and preclinical studies.

The corporate and administration cash spend rate remained stable at $2.9M (1HFY 20: $2.9m).

Clinical Programs Focus

It is testament to the work of Noxopharm to date that we have a strong network of world-class collaborators eager to work with us. Our clinical trial sites include some of the leading cancer centres in the world, notably, the US number one cancer hospital, the MD Anderson Cancer Center is participating, as well as the Beverly Hills Cancer Center and the City of Hope Cancer Center. It speaks to the depth of talent and experience in the Noxopharm team that a young company like Noxopharm was able to secure these sites.

Noxopharm Limited. ABN 50 608 966 123

Level 20, Tower A, The Zenith, 821 Pacific Highway, Chatswood NSW 2067 AUSTRALIA

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During the period, the DARRT Program Phase 2 clinical trial (Veyonda with low-dose radiotherapy) received IND approval from the FDA and has commenced in two leading U.S. cancer centres, the MD Anderson Cancer Center and the Beverly Hills Cancer Center with the first dose cohort having completed the safety assessments. The first Australian site, Macquarie Private Hospital, has also opened for patient recruitment, and further sites are expected to be online soon.

The CEP Program Phase 1 study (Veyonda and the chemotherapy drug, doxorubicin) commenced at a major U.S. cancer hospital, the City of Hope Cancer Center in Los Angeles. Additional sites in the U.S. will be joining the study in the near-term.

The IONIC Phase 1 trial (Veyonda with the Bristol Myers Squibb checkpoint inhibitor, nivolumab (Opdivo®)) commenced. Patients have been enrolled and treated at the first clinical site and more sites are expected to open in H1 2022.

Preclinical Programs

Noxopharm has developed a substantial product pipeline, with technologies which are aimed at saving lives through exciting new therapies. In addition to molecules developed in-house, Noxopharm has entered into an exclusive global licensing agreement with Hudson Institute of Medical Research (HIMR) relating to RNA drug discovery and mRNA vaccine manufacture.

Noxopharm also signed a Materials Cooperative Research and Development Agreement with the U.S. National Cancer Institute (the largest funding body for cancer research in the world) for the investigation of a family of molecules developed by Noxopharm.

-ENDS-

Dr Gisela Mautner, CEO and Managing Director of Noxopharm, has approved the release of this document to the market on behalf of the Board of Directors.

About Noxopharm

Noxopharm Limited (ASX:NOX) is an Australian clinical-stage drug development company focused on the treatment of cancer and cytokine release syndrome (septic shock). Wholly-owned subsidiary, Pharmorage Pty Ltd, houses drug development for autoimmune diseases, sepsis (cytokine release syndrome) and RNA vaccine manufacture.

Veyonda® is the Company's first pipe-line drug candidate currently in Phase 2 clinical trialling. Veyonda® has two main drug actions - a moderating effect on the ceramide/sphingosine-1-phosphate balance and inhibition of STING signalling. Activity against the former target contributes to its dual-acting oncotoxic and immunomodulatory functions designed to enhance the effectiveness and safety of standard oncology treatments, i.e., chemotherapies, radiation therapies and immune checkpoint inhibitors. Activity against the latter target provides an anti-inflammatory effect, as well as contributing to an anti-cancer action, but also potentially blocking septic shock.

Noxopharm is running comprehensive drug discovery programs in both oncology and inflammation, and is the major shareholder of US biotechnology company, Nyrada Inc (ASX:NYR), active in the areas of drug development for cardiovascular and neurological diseases.

To learn more, please visit: noxopharm.com

Noxopharm Limited. ABN 50 608 966 123

Level 20, Tower A, The Zenith, 821 Pacific Highway, Chatswood NSW 2067 AUSTRALIA

Noxopharm Limited. ABN 50 608 966 123

Level 20, Tower A, The Zenith, 821 Pacific Highway, Chatswood NSW 2067 AUSTRALIA