QUARTER 3, JULY – SEPTEMBER 2025

• Net revenue decreased by 37% to SEK 484k (766k).
• EBITDA declined by 22% to SEK -3 639k (-2 971k).
• EBIT/Operating result declined by 8% to SEK –7 152k (–6 614k).

INTERIM PERIOD, JANUARY – SEPTEMBER 2025

• Net revenue decreased by 31% to SEK 1 330k (1 919k).
• EBITDA improved by 28% to SEK -10 343k (-14 413k).
• EBIT/Operating result improved by 17% to SEK –21 133k (–25 473k).

KEY EVENTS DURING 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.
• Simris Biologics awarded €200K in non-dilutive funding for R&D programme to further develop microcystin payloads for Antibody Drug Conjugates (ADCs)

KEY EVENTS AFTER THE END OF THE QUARTER

• Simris Biologics GmbH announced important progress in its ongoing preclinical study with Nuvisan, a leading European contract research and development organization.
• Simris Group announces leadership transition - Daniel Kubitza appointed interim CEO.

CEO UPDATE
At Simris, our vision is to build the leading antibody-drug conjugate (ADC) payload company in the industry — pioneering a new generation of payloads that deliver a breakthrough in safety.

Cyanobacteria are remarkable organisms that thrive across diverse ecosystems, largely due to the unique toxins they produce. These natural compounds have already shaped the ADC field — with five of the seventeen FDA-approved ADCs carrying a modified cyanobacterial (dolastatin) toxin. Simris is uniquely positioned to harness this vast diversity of toxins and, through our proprietary discovery platform rapidly and cost-efficiently generate a plethora of new molecular structures to test as potential payload candidates. Any such molecule will be protected under our extensive patent portfolio, providing both scientific and commercial differentiation. This unique capability gives Simris a powerful advantage in discovering and developing novel ADC payloads that combine potency with exceptional safety.

During the quarter, we tested three proprietary Microcystin-based payloads in two independent in-vitro efficacy studies. One ADC variant demonstrated full-blown toxicity against an antigen-expressing multiple myeloma cancer cell line, resulting in complete elimination of cancer cells in response to treatment.

Having exhibited excellent potency in these in-vitro studies, this candidate — now designated Simris-121 — will advance to dose-escalation in-vivo studies to determine the maximum tolerated dose (MTD). Assuming positive results, we will then proceed with comprehensive in-vivo studies to assess efficacy, dose response, biodistribution, and toxicity, providing a full data set to support further development.

The focus of our scientific programme over the next nine months will be upon:

• Proving the in-vivo efficacy and safety profile of our lead compound, Simris-121
• Completing in-vitro studies for two additional Microcystin (MC)-based payload candidates
• Creating ADCs carrying MC-dimers, which during in-vitro studies, shown a step-change in efficacy and safety in protein–phosphatase inhibition (PPI) assays as free payloads.
• Developing new payload classes derived from cyanobacteria and fungi, which will also be protected under our growing patent estate.

I am pleased to see the excellent progress Simris has made with its patents. This is a major strength of the business ensuring we can strongly defend our position in a highly competitive field and prepare for future commercialization efforts.

I join Simris with over twenty years of experience in corporate financing, commercialisation and strategy development in the life sciences and healthcare industry. My immediate focus will be to secure the funding necessary to enable us to complete the scientific programme outlined above. For the longer term, we will need to strengthen the management and science team in preparation for the next phase of Simris’ development. This will not only speed up scientific progress but also ready the company for paid collaborations under contract and for future funding rounds.

I would like to thank the board for the opportunity to lead Simris at this exciting point in its history. All progress we make today lays the foundation for breakthrough therapies that save lives — and for a new era of ADC development.

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