QUARTER 2, APRIL – JUNE 2025

• Net revenue increased by 8% to SEK 687k (634k).
• EBITDA improved by 51% to SEK -2 980k (-6 117k).
• EBIT/Operating result improved by 32% to SEK –6 693k (–9 822k).

INTERIM PERIOD, JANUARY – JUNE 2025

• Net revenue decreased by 27% to SEK 846k (1 153k).
• EBITDA improved by 41% to SEK -6 704k (-11 442k).
• EBIT/Operating result improved by 26% to SEK –13 981k (–18 859k).

KEY EVENTS DURING THE QUARTER

• Simris Group entered into a bridge loan facility of up to EUR 450 000, extended existing loan agreements of EUR 740 000 with investors, management and board members.
• Simris Group held the Annual General Meeting on 28 May 2025.
• Simris Group AB signed a non-binding concept sheet for potential Antibody-Drug Conjugate collaboration.
• Simris Biologics signed an agreement with Nuvisan for In-Vivo Evaluation of Novel Microcystin Payloads.

KEY EVENTS AFTER THE END OF THE QUARTER

• Partner company decided not to proceed with Simris Group ADC proposed collaboration following their strategic review.
• Simris Group carried out a directed issue of convertible debentures totaling EUR 678 000 to strategic investors as part of a financing package. Concurrently, existing loan facilities totaling approximately EUR 1.65 million were converted into interest-free loans as of 1 August 2025. These measures strengthen liquidity and reduce costs in preparation for an anticipated larger capital raise.

CEO UPDATE
At Simris Group our vision is bold: to become a trusted provider of next-generation payloads for targeted cancer therapies, and to drive innovation where it matters most—at the intersection of nature, science, and human health.

The second quarter of 2025 was a period of measured progress and continued focus for Simris Group. While we remain in a capital-efficient phase of our journey, we are steadily advancing our scientific priorities and building the foundation for medium and long-term value creation in the field of targeted payloads derived from cyanobacteria.

During the quarter, we achieved key technical milestones in the preclinical development of our proprietary microcystin payload platform. These advancements reinforce our conviction that cyanobacterial compounds can play a meaningful role in future oncology therapeutics, particularly in the realm of antibody-drug conjugates (ADCs). Feedback from our ongoing academic and industrial dialogues continues to validate our differentiated approach and has informed refinements in our screening and conjugation strategies.

As a result, we signed an agreement with Nuvisan, a leading European contract research and development organization, to conduct in-vitro and in-vivo studies of our Simris-proprietary optimized microcystin (MC) payloads for antibody -drug conjugates (ADCs). The programme is progressing well, and we are scheduled to have initial in-vitro efficacy testing data by end September 2025.

We were understandably disappointed after a potential EU -based biopharmaceutical prospective partner company decided not to proceed with a proposed collaboration following their strategic pivot in top-level strategy to prioritize their internal development programmes. This outcome is not reflective of our potential technology as we continue to generate promising data for our advanced ADC payload assets. The interest in our technology is confirmed by the large number of discussions that we are having with leading biotech and pharma partners.

For ADCs using microcystin dimers, we have developed strategies for optimization of linker positioning, spacer design, and linker chemistries and we are in active discussions to collaborate in this advanced chemistry for ADCs.

We continue our established collaborations with leading academic institutions including in New Zealand to deepen our scientific understanding of the broader potential of our compounds beyond oncology, including in areas such as peptide-drug conjugates (PDCs) and healthy aging.

Financially, we maintained a strict focus on operational discipline. During the period, we succeeded in keeping our burn rate in line with expectations and continue to explore non-dilutive financing opportunities, including public innovation grants and strategic collaborations. The board and management remain fully committed to securing the capital necessary to support the next stage of our development.

This quarter, we have made further progress with our international patent families including positive preliminary examination by the European Patent Office of our most recent international patent application relating to improved organic cytotoxin payloads that strengthen our global IP portfolio in the scope of cyclic peptide toxins and ADC payload structures to ensure we can defend our position in a highly competitive field and prepare for future commercialization efforts.

Finally, we made tangible progress activities that are critical to winding down the legacy nutrition operations, thereby enabling the sale of the Hammenög facility and equipment. These steps are essential to ensuring that our full focus and resources are aligned with our mission: to develop cutting-edge therapeutics from nature’s most potent bioactive compounds.

Looking ahead, the second half of the year will be pivotal. We aim to complete several critical preclinical experiments that will inform future partnering and patent strategies. We also remain engaged in strategic discussions with parties who recognize the potential of our pipeline and platform.

I extend my thanks to our shareholders for your continued support and patience, and to our team and collaborators for their dedication. We are operating with a clear sense of purpose and urgency, and I look forward to sharing more concrete updates in the coming months.

The report is published on Simris Groups website:
https://simrisgroup.com/financial-information/financial-reports/