Press release

Nanoform Finland Plc

October 17, 2022

08:10 a.m. Finnish time / 07:10 a.m. Swedish time

TargTex to present Tumour Eradication in Rodents from its Nanoformed Glioblastoma drug

Helsinki, Finland - Nanoform, an innovative nanoparticle medicine enabling company, together with TargTex, a European biotech company, will present highly promising in-vivo data, enabled by nanoformed drug product for the treatment of Glioblastoma. This data was generated for a planned Phase1/2a clinical trial, due to commence in early 2024.

The presentation at 10:00am EDT on 25 October at PODD Conference (Partnerships and Opportunities in Drug Delivery) in Boston, USA, will be given by Dr João Seixas, CEO, TargTex and Christian Jones, CCO, Nanoform. At this time the presentation including the released data will also be made available on Nanoform's website.

News of Nanoform's PoC* success and subsequent GMP Agreement with TargTex was published in February 2022. Since then, the companies have further collaborated in the optimization of a hydrogel formulation for implantation at the site of the resected tumor. This process demands very small particles to increase drug loading and improve release profile. Other technologies and approaches previously failed to deliver the necessary performance.

"In a space where unfortunately no significant advances were seen in the latest two decades, this novel approach provides hope for patients, and I wish we had started this collaboration with Nanoform sooner." Dr João Seixas, CEO, TargTex

"We are thrilled that Nanoform's platform technologies are able to help this highly promising medicine reach the clinic." Prof. Edward Hæggström CEO, Nanoform

*PoC refers to Nanoform's Proof of Concept study to assess nanoforming feasibility for an API

For further information, please contact:

Christian Jones, CCO

christian.jones@nanoform.com/ +44 7804 474 771

For investor relations queries, please contact:

Henri von Haartman, Director of Investor Relations

hvh@nanoform.com/ +46 7686 650 11

About TargTex

TargTex (www.targtex.com), a European biotech company, is developing an innovative hydrogel based pharmaceutical product for a highly unmet medical need: Glioblastoma multiforme (GBM) treatment.  About 3 in 100,000 people develop the disease each year. GBM is the most aggressive type of cancer that begins within the brain and there is as of yet no efficacious treatment for this deadly disease. TargTex's drug candidate has already shown efficacy in animal models.

About Nanoform

Nanoform is an innovative nanoparticle medicine enabling company. Nanoform works together with pharma and biotech partners globally to provide hope for patients in developing new and improved medicines utilizing Nanoform's platform technologies. The company focuses on reducing clinical attrition and on enhancing drug molecules' performance through its nanoforming technologies and formulation services. Nanoform's capabilities include GMP manufacturing, and its services span the small to large molecule development space with a focus on solving key issues in drug solubility and bioavailability and on enabling novel drug delivery applications. Nanoform's shares are listed on the Premier-segment of Nasdaq First North Growth Market in Helsinki (ticker: NANOFH) and Stockholm (ticker: NANOFS). Certified Adviser: Danske Bank A/S, Finland Branch, +358 40 744 1900. For more information, please visit www.nanoform.com.

Forward-Looking Statements

This press release contains forward-looking statements, including, without limitation, statements regarding Nanoform's strategy, business plans and focus. The words may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any forward-looking statements in this press release are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, any related to Nanoform's business, operations, clinical trials, supply chain, strategy, goals and anticipated timelines, competition from other companies, and other risks specified in Nanoform's prospectus published (on May 22, 2020) in connection with Nanoform's initial public offering (the "Prospectus") under "Risk Factors" and in our other filings or documents furnished to the Finnish Financial Supervisory Authority in connection with the Prospectus. Nanoform cautions you not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. Nanoform disclaims any obligation to publicly update or revise any such statements to reflect any change in expectations or in events, conditions or circumstances on which any such statements may be based, or that may affect the likelihood that actual results will differ from those set forth in the forward-looking statements. Any forward-looking statements contained in this press release represent Nanoform's views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date.