Entheon Biomedical Announces Ethics Approval for In Vivo DMT Study

Vancouver, British Columbia--(Newsfile Corp. - February 22, 2021) - Entheon Biomedical Corp. (CSE: ENBI) (OTC: ENTBF) (FSE: 1XU1) ("Entheon" or the "Company"), a biotechnology company focused on developing psychedelic medicines to treat addiction, announced ethics approval for an upcoming pre-clinical study to be conducted by the clinical research organization, Science in Action, an Israeli-based lab specializing in pre-clinical in vivo and in vitro R&D services.

Science in Action has confirmed that it has received ethics approval for an in vivo non-GLP toxicology study of N, N Dimethyltryptamine (DMT) (the "Study"). Both Entheon and Science in Action have applied for requisite permits in order to export, receive and research DMT drug product.

The objective of the Study is to determine the acute toxicity of IV doses of DMT in a 14-day in vivo study. The Study is being performed in advance of the Company's human studies to evaluate DMT's pharmaco-therapeutic profile for the treatment of substance-use disorder, anticipated to be conducted in Q4 of 2021.

"We are very excited to begin working with the acclaimed team at Science in Action in order to further characterize the toxicology profile of DMT in preparation for upcoming human trials," said Chief Executive Officer of Entheon, Timothy Ko. "With the successful submission of our study synopsis and ethics approval obtained, we are one step closer to initiating pre-clinical work in order to further advance DMT's profile as a therapeutic candidate to treat substance-use disorder."

About Entheon Biomedical Corp.

Entheon is a biotechnology research and development company committed to developing and commercializing a portfolio of safe and effective N,N-dimethyltryptamine based psychedelic therapeutic products ("DMT Products") for the purposes of treating addiction and substance use disorders. Subject to obtaining all requisite regulatory approvals and permits, Entheon intends to generate revenue through the sale of its DMT Products to physicians, clinics and licensed psychiatrists in the United States, certain countries in the European Union and throughout Canada.

About Science in Action

Science in Action (SIA) is a preclinical contract research organization (CRO) founded in 2010 by immunologist Raanan Margalit. SIA is GLP-accredited for toxicology studies in multiple areas, with extensive experience in tailor-made preclinical research in in-vivo and in-vitro models. We are committed to the highest standards of research along with optimal accessibility in meeting specific research needs.

On Behalf of the Board of Directors,

"Timothy Ko"
Timothy Ko, CEO

For more information, please contact the Company at:
Entheon Biomedical Corp.
Joseph Cullen, Investor Relations
Telephone: +1 (778) 919-8615
Joe@entheonbiomedical.com
https://entheonbiomedical.com/

For media inquiries, please contact Crystal Quast at:
Bullseye Corporate
Crystal Quast
Telephone: +1 (647) 529-6364
Quast@BullseyeCorporate.com

Cautionary Note on Forward Looking Information

This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward‐looking statements or information. More particularly and without limitation, this news release contains forward‐looking statements and information relating to the proposed study protocol, the commencement of the study, the issuance of applicable permits, the ability to obtain "drug product", the results and outcomes of the Study, the timing and commencement of the human studies and other matters. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward‐looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the Company's ability to raise further capital and the Company's ability to obtain regulatory and exchange approvals. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.

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