Building a Phase II evidence base 

Oslo, 31 August 2023. Lytix Biopharma - Lytix Biopharma AS ("Lytix") (Euronext
Growth Oslo: LYTIX), a clinical stage immuno-oncology company, today releases
its first half and second quarter 2023 results. 

Chief Executive Officer of Lytix Biopharma, Dr. Øystein Rekdal, commented: "We
have continued to make positive progress as we build a clinical Phase II
evidence base for our lead compound LTX-315. Earlier this month we received
strong data from Part 1 of Verrica Pharmaceuticals' ongoing clinical Phase II
study and more recently we announced the recruitment of all 20 patients into the
ATLAS-IT-05 trial. Furthermore, today we announce that a second melanoma study
will commence in 1H 2024, with LTX-315 being tested in combination with
pembrolizumab in a neoadjuvant Phase II setting. Given this study will include
patients with earlier stage disease, we expect to see an improvement in the
response rates due to patients enrolled in this study having healthier immune
system." 


HIGHLIGHTS from the second quarter 2023, and post-period events:
o Verrica Pharmaceuticals' positive Phase II study evaluating LTX-315 for the
treatment of basal cell carcinoma (BCC):
  - Complete clearance observed in four lesions, 95% clearance in one lesion and
30% clearance in one lesion.
  - Based on the stronger than expected activity observed in patients receiving
LTX-315, Verrica has decided to accelerate the clinical development of LTX-315
and to complete the entire Phase II study in H1 2024.
o ATLAS-IT-05:
  - All 20 patients have been recruited in the study.
  - Interim results from the study will be presented at the European Society for
Medical Oncology (ESMO) Congress in October 2023.  
o Neoadjuvant study in earlier stage melanoma patients:
  - Lytix will support an investigator led Phase II study at Oslo University
Hospital, Radiumhospitalet. 
  - The study is expected to commence in H1 2024 and will enroll 27 melanoma
patients.
o LTX-401:
  - Decision made to refocus resources and generate additional clinical efficacy
data on LTX-315, resulting in the postponement of the start of the planned Phase
I safety study with LTX-401.

Profit and loss/Balance sheet - see attached press release.

***

The full report and a presentation are linked to this press release (and
available at https://www.lytixbiopharma.com).

CEO Øystein Rekdal, CDO Graeme Currie and CFO Gjest Breistein will host a
webcast for investors and analysts today at 14.30 CEST, which will be made
available within the Investors section of the Company's website:
www.lytixbiopharma.com. A recording of the presentation will be made available
after the event.
The presentation and subsequent Q&A session will be held in English and may be
viewed live by registering here: https://forms.office.com/e/FPEmPcUjX1


For more information, please contact: 
* Gjest Breistein, CFO, E-Mail: gjest.breistein@lytixbiopharma.com
* Ole Peter Nordby, Head of IR & Communications Manager, E-mail:
ole.peter.nordby@lytixbiopharma.com
* Optimum Strategic Communications, Nick Bastin, Jonathan Edwards, Vici
Rabbetts, Tel: +44 208 148 9863, 
E-mail: lytix@optimumcomms.com

***

Lytix in brief: 
Based in Oslo, Norway, Lytix Biopharma is a clinical stage immuno-oncology
company developing novel cancer immunotherapies, an area within cancer therapy
that is aimed at activating the patient's immune system to fight cancer. The
Company's technology is based on pioneering research in "host defense peptides"
- nature's first line of defense towards foreign pathogens. Lytix Biopharma's
lead product, LTX-315, is a first-in-class molecule representing a new and
superior therapeutic principle to kill cancer cells and boost anti-cancer
immunity, with the potential to be the ideal combination partner with other
types of immunotherapies. LTX-315 targets cancer cells and disintegrates their
cell membranes, causing immunogenic cell death and release of a patient's tumor
specific antigens. This mode of action allows cytotoxic T cells to recognize,
infiltrate, and attack cancer cells. The Company was listed on Euronext Growth
in Oslo in June 2021, following a private placement covered by investors such as
PBM Capital, a US based, healthcare-focused investment firm.