Oslo, 12 May 2022. Lytix Biopharma, a clinical-stage company with an in situ
vaccination technology platform, today releases its first quarter 2022 results -
Addressing the major challenge in cancer therapy with Oncolytic Molecules. 

"I am pleased to report this year's first quarter, highlighted by the first
patient treated in Verrica Pharmaceutical's Phase II study evaluating LTX-315
for the treatment of basal cell carcinoma (skin cancer). Our lead drug
candidate, LTX-315, is currently in two clinical Phase II studies, and data from
a completed Phase II study at Herlev Hospital in Denmark, with LTX-315 in
combination with T-cell therapy in patients with metastatic soft tissue sarcoma,
will be presented in a poster at ASCO in June", says Dr. Øystein Rekdal, CEO of
Lytix Biopharma.


Highlights from the first quarter 2022:
o First patient in Verrica Pharmaceutical's study with LTX-315 was screened in
March and dosed on April 4th. This triggered a milestone payment of 1m USD to
Lytix.
o ATLAS-IT-05 - Expanding site network to highly recognized sites with expertise
within intra-tumoral immunotherapy in Europe
o ATLAS-IT-04 - Abstract approved for presentation of the clinical results at
ASCO in June 2022
o LTX-401 for intratumoral treatment of liver cancer - At pre-clinical stage and
will be made ready for clinical studies in liver cancer patients within 2022
o In March, CEO Øystein Rekdal held a plenary presentation at the Next
Generation Immuno-Oncology Congress in London - Topic: Addressing tumor
heterogeneity with oncolytic molecules

Key figures (unaudited):

Profit and loss:

Amounts in NOK thousands  Q1 2022   Q1 2021   FY 2021     
 	 	 	 	 		 
Total operating income	   1,509     21,561    25,821	      
Total operating expenses (16,182)   (22,012)  (73,844)    
Loss from operations	 (14,673)      (452)  (48,017)  
Loss for the period	 (15,231)      (356)  (48,049) 

Balance sheet:

Amounts in NOK thousands              Q1 2022   Q1 2021   FY 2021

Assets								
Property, plant and equipment		   35         -  	-
Trade and other receivables	        7,242     6,190     5,680 
Cash and cash equivalents	      180,666    22,582   197,282 
Total assets	                      187,942    28,772   202,962

Shareholder's equity and liabilities
Total equity                          174,807    20,701   189,624
Total liabilities                      13,135     8,071    13,338
Total equity and liabilities          187,942    28,772   202,962


The results will be presented in a webcast with CEO Øystein Rekdal, CDO Graeme
Currie and CFO Gjest Breistein today at 14.30 CEST. 

The presentation and subsequent Q&A session will be held in English and may be
viewed live by registering here:
https://forms.office.com/pages/responsepage.aspx?id=-QEn0CM7P0uPzintVGMr-Gxc6nJw
_YlNh1teJiuU8DNURVlZVVRUSzNBUkZVVEExM0paUDdBTEVSTS4u&web=1&wdLOR=cD30517F7-4710-
4DFA-816E-07F787849A57
 
The presentation is available at www.lytixbiopharma.com in the Investors
section, and a recording of the presentation will after the presentation be made
available.


For more information, please contact: 
Øystein Rekdal, CEO: +47 975 73 358 
Gjest Breistein, CFO: +47 952 60 512 
Ole Peter Nordby, Head of IR: +47 412 87 179



Lytix Biopharma in brief 
Lytix in brief: Based in Oslo, Norway, Lytix Biopharma is a clinical stage
biotech 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 oncolytic molecule
representing a new and superior in situ therapeutic vaccination principle to
boost anti-cancer immunity, with the potential to be the ideal combination
partner with other types of immunotherapy. LTX-315 target cancer cells and
disintegrate 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.