Advanced Proteome Therapeutics Announces Dr. Benjamin Krantz to Join Company as CEO

Burnaby, British Columbia--(Newsfile Corp. - December 17, 2020) - Advanced Proteome Therapeutics Corporation (TSXV: APC) (FSE: 0E8) ("APC" or the "Company'), is pleased to announce that Dr. Benjamin Krantz will be joining the Company's US subsidiary Advanced Proteome Therapeutics Inc. ("APTI") as CEO following the completion of his oncology fellowship at NYU Langone Health on July 1^st, 2021. Bill Dickie will continue his role as interim CEO of APTI until then and remain a member of the board of directors after.

Benjamin Krantz MD, MBA is the Chief Fellow in hematology/oncology at New York University Langone Medical Center and is currently on the Board of Directors at APTI. He completed his residency in internal medicine at New York-Presbyterian Hospital - Columbia University Medical Center during which time he analyzed investigator intellectual property disclosures as a Columbia Technology Ventures fellow. He subsequently worked as a hospitalist and clinical/translational researcher at Memorial Sloan Kettering Cancer Center. His research has focused on biomarker and therapeutic development in pancreas ductal adenocarcinoma. He has authored peer-reviewed articles on novel therapeutics for pancreas cancer and emerging biomarkers for therapeutic selection. He has also been the architect of investigational protocols for the development of new pancreas cancer biomarkers and an early phase therapeutic candidate. Ben received a Bachelor of Arts from the University of Pennsylvania and received his Doctor of Medicine and Master of Business Administration from Tufts University.

Dr. Krantz states, "I am thrilled to be taking on the role of CEO at APTI on completion of my oncology fellowship. I have spent the last 5 years performing clinical and translational research in oncology at Memorial Sloan Kettering Cancer Center and New York University Langone Health - two of the leading academic oncology centers in the world. Despite patients receiving the most advanced treatments approved and in development, I am intimately aware of the limitations of the most novel and efficacious treatment modalities available. As a Director at APTI, I have seen APTI's protein conjugation platform improve the performance of all conjugates to which it has been compared utilizing competing technologies - technologies that are both in approved and developmental therapeutics. It is in this context that I have chosen to leave a career in academia to lead APTI, to build out APTI's platform, to incorporate APTI technology into the clinical armamentarium and to realize the ability of APTI technology to improve patient outcomes and create value for shareholders. APTI's best in class antibody-drug conjugate (ADC) program is candidate ready and we are developing complementary technologies to further improve the characteristics of this therapeutic class - a class in which 8 out of 9 FDA approved therapeutics have projected peak sales greater than $1 billion dollars. It is my goal to rapidly promote APTI technology utilizing a biobetter approach by comparing APTI constructs to selected approved and failed ADCs, such that APTI constructs can then be developed into APTI owned clinical therapeutics. This is a de-risked approach with a defined path to monetization. I am excited to be leading APTI in this next phase."

Bill Dickie, interim CEO remarked, "I am excited to support APTI through the transition to Ben's leadership. I feel confident that he will take the company to a new level of success and shareholder value; APTI is at the stage where it needs a full time CEO."

Paul Woodward, President and CEO of APC and Chairman of the Board of APTI comments, "This is a transformational appointment for APTI; Dr. Krantz brings a combination of skills to the table that are exactly what APTI requires in a chief executive. His decision to forgo lucrative and prestigious opportunities available to him is a real vote of confidence in the potential of APTI's technology. APC shareholders are poised to benefit greatly from Ben's knowledge, experience, and connections as we move towards commercialization of APTI's technologies."

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 improved site-selective 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 and create shareholder value.

FOR FURTHER INFORMATION PLEASE CONTACT:

Advanced Proteome Therapeutics Corporation

Paul Woodward

President and 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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