SIMRIS GROUP CONFIRMS STRATEGIC DIRECTION AND ADVANCES TWO AMANITIN-BASED ADC PROGRAMS TOWARD THE CLINIC

On 19 March 2026, Simris announced that the Company was evaluating options to expand its ADC payload development program, including two strategic paths: continued focus on pre-clinical development of its microcystin-based ADC platform, or a more capital-intensive expansion involving the integration of an experienced ADC development team and a clinically validated payload class with the potential to accelerate the Company's path toward clinical development.

Following a thorough evaluation, the Company has confirmed its strategic direction to advance its ADC development activities, with an increased focus on accelerating amanitin-based ADC programs toward the clinic. This decision reflects the board of directors' assessment that Simris is well positioned to build on the work already undertaken and to advance its programs more rapidly toward clinical proof of concept under the leadership of Professor Andreas Pahl and the newly strengthened development team.
 
Simultaneously, the Company will continue with the previously announced ongoing Microcystin-ADC studies designed to generate in vivo safety and efficacy data for candidate microcystin payloads.
 
Treatment resistance remains a fundamental challenge in cancer. The next wave of ADC innovation will require differentiated payloads, such as amanitin, with novel mechanisms capable of addressing cancers that no longer respond to existing therapies. The Company's strategy combines clinically supported and de-risked amanitin biology, established oncology targets and an experienced ADC development team.
 
Execution of the strategy will be led by Professor Andreas Pahl, newly appointed Chief Executive Officer of Simris Biologics, supported by a strengthened development team with extensive experience in amanitin and ADC development spanning payload development, manufacturing, regulatory strategy, and clinical development.
 
Amanitin inhibits RNA polymerase II, offering a differentiated mechanism of action from the payload classes that currently dominate the ADC field. Simris will initially focus on two proprietary amanitin-based ADC programs, SMR-101 and SMR-102. SMR-101 is a B-cell depleting amanitin-based ADC being developed for liquid tumors and autoimmune diseases, while SMR-102 is a dual-payload ADC combining amanitin and a second payload for solid tumors.
 
The Company's operations will be organised around its amanitin-based ADC platform, with Simris Biologics serving as the primary development entity. The Company expects to onboard six additional team members with specialised ADC development expertise during the coming 12 months. The Company's existing microcystin-based ADC platform will continue to be developed in parallel. Simris will provide further updates on development milestones and financial guidance in connection with the next quarterly report and/or a forthcoming capital markets update.

“Over the past months we have worked closely with Andreas and the team to determine a focused development strategy built around two amanitin-based ADC programs and a team that already has significant experience developing this class of payloads. We believe this strategy provides Simris with a strong foundation to advance rapidly toward clinical development and create long-term value for patients and shareholders,” comments Jonathan Royce, Chairman of the Board of Simris Group.

“We believe amanitin represents one of the most promising opportunities for innovation in the ADC field today. Its differentiated mechanism of action, combined with the team's extensive experience in amanitin development and ADCs, provides a strong foundation for advancing new therapies designed to address treatment resistance. With SMR-101 and SMR-102, we are focusing our efforts on two programs with a clear path toward clinical proof of concept in both liquid and solid tumors,” comments Professor Andreas Pahl, Chief Executive Officer of Simris Biologics.