San Diego, California--(Newsfile Corp. - May 11, 2026) - Thiogenesis Therapeutics Corp. (TSXV: TTI) ("Thiogenesis" or the "Company"), a clinical-stage biotechnology company developing a next-generation cysteamine-based therapy for rare diseases, announced today that it will undertake a non-brokered private placement (the "Offering") of up to 16,000,000 common shares of the Company ("Offered Shares") at a price of $0.50 per Common Share for gross proceeds of $8 million.

This Offering is subject to the approval of the TSX Venture Exchange (the "Exchange"). The Company anticipates closing of the Offering by the end of May subject to receipt of all necessary regulatory approvals. Upon issuance, the Offered Shares will be subject to a four-month and one day hold period pursuant to securities laws in Canada and, where applicable, Exchange policies.

In connection with the Offering, the Company may pay finder's fees to eligible persons in compliance with applicable securities laws and Exchange policies. The proceeds of the financing will be used to support the clinical development of TTI-0102, including an investigator-initiated study in cystinosis and a Phase 2 clinical study in Leigh syndrome, together with formulation and manufacturing activities, regulatory engagement, and general working capital and corporate purposes.

About Thiogenesis

Based in San Diego, California, Thiogenesis Therapeutics, Corp. (TSXV: TTI) (OTCQX: TTIPF) is a clinical-stage biotechnology company developing TTI-0102, a novel controlled-release cysteamine prodrug designed to offer improved tolerability and dosing compared with existing therapies. The company is advancing TTI-0102 toward a pivotal Phase 3 clinical trial in nephropathic cystinosis and is supporting clinical development in inherited mitochondrial diseases, following completion of a Phase 2 programme in MELAS and the initiation of a Phase 2 clinical study in Leigh syndrome.

Forward Looking Statements

This news release contains certain forward-looking statements and forward-looking information (collectively referred to herein as forward-looking statements) within the meaning of Canadian securities laws including, without limitation, statements with respect to: the Company undertaking a non-brokered private placement to raise up to $8 million at a price of $0.50 per Common Share; the Offering being subject to the approval of the TSX Venture Exchange; the Company anticipating closing the Offering as soon as practicable; that the Shares (if sold) will be subject to a four-month and one day hold period; that the Company may pay finder's fees in connection with the Offering; the proceeds (if Shares are sold) from the Offering will be used for MELAS clinical trial expenses, the creation and purchase of additional TTI-0102 for future clinical trials. All statements other than statements of historical fact are forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are inherently uncertain, are based on estimates and assumptions, and are subject to known and unknown risks and uncertainties (both general and specific) that contribute to the possibility that the future events or circumstances contemplated by the forward-looking statements will not occur. Although the Company believes that the expectations reflected in the forward-looking statements contained in this press release, and the assumptions on which such forward-looking statements are made, are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking statements included in this document, as there can be no assurance that the plans, intentions, or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause the Company's actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein have not been and will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered or sold, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. persons, as such term is defined in Regulation S under the Securities Act ("Regulation S"), except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296807

Source: Thiogenesis Therapeutics, Corp.