Marvel Biosciences Successfully Completes its Short Term Dose Ranging Study in Rats and Dogs for MB-204

Calgary, Alberta--(Newsfile Corp. - January 3, 2023) - Marvel Biosciences Corp. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce that it has successfully completed its dose-ranging toxicology studies in rats and dogs, for its lead drug candidate MB-204. These studies will assist in determining the doses for the IND-enabling 4-week GLP toxicology studies.

"We are looking forward to initiating the 4-week toxicology studies early in 2023, which is the final study left before initiating the Phase 1 clinical trials of MB-204," said Dr Mark Williams, CSO Marvel Biosciences. "We are currently planning the overall design of the Phase 1 studies with the goal of also establishing an early efficacy signal in human patients. The target of MB-204, the adenosine A2a receptor, has shown in numerous studies that it plays an active role in Alzheimer's disease, ADHD and depression. Our studies to date have also shown very promising results from our lead drug candidate MB-204, in reducing symptoms of depression and anxiety, in addition to potential benefits for patients suffering from Alzheimer's."

"2023 is a monumental year for Marvel Biosciences," said Rod Matheson, CEO of Marvel Biosciences. "We are on the path to advance from a pre-clinical company to a clinical stage company and are confident that our MB-204 asset has the potential to address a number of diseases including depression, Alzheimer's disease, and ADHD. The cGMP manufacturing of MB-204 is also proceeding well and we look forward to providing further updates on our milestones."

MB-204 is a fluorinated derivative of the U.S. FDA approved adenosine A2a receptor antagonist, Istradefylline. Both Istradefylline and MB-204 are highly active derivatives of caffeine, the most widely consumed psychoactive drug in the world. Caffeine consumption has been associated with a reduced risk for developing Parkinson's disease, Alzheimer's disease and improving concentration.

About Marvel Biosciences Corp.
Marvel Biosciences Corp., and its wholly owned subsidiary, Marvel Biotechnology Inc., is a Calgary-based pre-clinical stage pharmaceutical development biotechnology company that utilizes a "drug redevelopment" approach to drug development. Historically, when a new class of drug is developed, it is optimized for a particular target, but typically only approved for a specific disease. Often, a new disease is identified which involves the same target, however, pending the remaining patent life, the originally approved drug may not have sufficient time left for it to be commercially viable to be developed for the new disease indication. Marvel develops new synthetic chemical derivatives of the original approved drug for the new disease indication. Patent protection is sought, as the new potential asset is developed by the Company. The Company believes the business model results in significantly less risk, cost and time to develop its assets compared to traditional biotechnology companies.

Marvel Biotechnology Inc. has currently developed several new chemical entities, using synthetic chemical derivatives of known, off-patent drugs, that inhibit the A2a adenosine receptor with application to neurological diseases (depression & anxiety, Alzheimer's, ADHD), and the non-neurological conditions of cancer and non-alcoholic steatohepatitis. Marvel is also exploring additional undisclosed targets to expand its asset pipeline.

Contact Information
Investor Relations:
Virtus Advisory Group
Tel: 416-644-5081
Email: info@virtusadvisory.com

Marvel Biosciences Corp.
J. Roderick (Rod) Matheson, Chief Executive Officer or
Dr. Mark Williams, President and Chief Science Officer
Tel: 403 770 2469

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