Advanced Proteome Therapeutics Files Provisional IP for Compounds Targeting SARS-CoV-2

Burnaby, British Columbia--(Newsfile Corp. - July 9, 2020) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E8) ("APC" or the "Company"), is pleased to announce that its US subsidiary, Advanced Proteome Therapeutics Inc. ("APTI"), has filed for patent protection on a family of therapeutic candidates against SARS-CoV-2, the virus which causes COVID-19 and has initiated a project to rapidly manufacture test quantities of these drugs.

As previously announced, APTI's scientists have identified multiple compounds with predicted affinity for the SARS-CoV-2 protease exceeding that of all published candidate viral protease inhibitors known to APTI. In consultation with our patent attorneys, we believe these compounds to be novel and patentable. We have now submitted patent filings to protect these inventions.

The company has begun the process of synthesizing these candidates in-house. We expect synthesis of the first two candidates to take approximately 4 - 6 weeks. The next step will be to perform cell culture and in vivo testing in a validated SARS-CoV-2 model with an external collaborator as soon as possible, preliminary results of which would be available within 3 - 5 weeks of onset.

Dr. Benjamin Krantz, Director of APTI, commented, "This project is moving forward at a rapid pace, in line with the urgent need for better treatments for SARS-CoV-2. Multiple reports have suggested that immunity to SARS-CoV-2, secondary to vaccine or infection, may be transient, further highlighting the importance of antivirals for the treatment of COVID-19. We have now filed intellectual property around our protease inhibitor candidates and are taking the next steps of synthesizing various candidates and moving toward pre-clinical testing to confirm activity and safety."

Paul Woodward, CEO of the Company, stated, "I am extremely pleased with the ability of our Boston-based scientists to advance this program to the point of IP filing and subsequent compound synthesis in just a few weeks. While this program does not make use of our core technology, it would, if successful, be highly impactful and provide us with a near-term monetization opportunity. We look forward to the next steps."

The Company is not making any express or implied claims that its product can eliminate, cure or contain the Covid-19 (or SARS-2 Coronavirus) at this time.

ABOUT THE COMPANY:

Advanced Proteome Therapeutics Corporation, through its subsidiary, Advanced Proteome Therapeutics Inc., has invented proprietary protein conjugation technology which enables the development of superior antibody-drug conjugates through improved site-specific labeling, drug-antibody ratio control and enabling of combination payloads. The technology has compelling pre-clinical data demonstrating improved homogeneity and increased in-vivo potency relative to current state of the art linker technology. The Company believes that the technology will enable the development of safer and more potent antibody-drug conjugate therapeutics and is pursuing licensing and partnership opportunities to advance development.

CONTACT:
Advanced Proteome Therapeutics Corporation
Paul Woodward
CEO
Tel: 604 690-3797
http://www.advancedproteome.com

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This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "intends", "anticipates", "expects" and similar expressions. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are risks detailed from time to time in the filings made by the Company with securities regulators.

Readers are cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that any forward-looking statement will materialize, and readers should not place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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