Oslo, 17 November 2022. Lytix Biopharma ("Lytix") (Euronext Growth Oslo: LYTIX),
a Norwegian immune-oncology company, today releases its third quarter 2022
results. Highlights include regulatory approval received to expand our
ATLAS-IT-05 study to three European countries and the appointment of Stephen
Worsley as CBO.  

"We are very pleased to now beeing able to include patients from Spain, France
and Norway in our Phase II study. The expansion of the site network will
mitigate recruitment challenges, drive enrollment towards completion and extend
the clinical impact field for LTX-315", says CEO and Co-founder of Lytix
Biopharma, Øystein Rekdal. 


Highlights from the third quarter 2022:
o	LTX-315
-	Regulatory approval received to expand the ATLAS-IT-05 study to three European
countries (Norway, France         and Spain) 
-	Verrica Pharmaceuticals is in good progress with their Phase II study in BCC,
and the conclusion of part 1 of three parts is expected in Q1 2023
o	IND enabling activities required to start a Phase I study with LTX-401 is
progressing as planned
o	Stephen Worsley appointed as Chief Business Officer (CBO), and he is already
introducing Lytix to KOLs and companies within the industry

Post-period events:
o	Compelling data describing how LTX-315 activates dendritic cells and
contributes to anti-cancer immune response was presented at the Society for
Immunotherapy of Cancer (SITC)
o	Additional study sites opened in Europe to support ATLAS-IT-05 patient
recruitment
o	ATLAS-IT-04 Clinical Study Report completed
-	Proof-of-concept achieved, demonstrating the clinical benefits of LTX-315 in
combination with Adoptive Cell Therapy (ACT) in heavily pre-treated sarcoma
patients

Financial:
o	Total operating income for Q3 2022 includes NOK 1.4 million in revenue from
our licensing partner Verrica. This revenue is for sale of LTX-315 for use in
Verrica's development program. This is the first, and currently only, agreement
where Lytix sells LTX-315 to a commercial party.
o	Total operating expenses for the six months that ended September 30 are in
line with the same period last year, and as a clinical drug development company,
R&D efforts represent the majority of our expenses.
o	A portion of the excess liquidity has been placed in a liquidity fund
explaining the increase in short-term financial investments. 
o	At the end of the period cash plus short-term financial investments was NOK
172 million.

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 at https://channel.royalcast.com/landingpage/hegnarmedia/20221117_4/
 
A recording of the presentation will be made available on
https://www.lytixbiopharma.com/investors/overview.html after the presentation. 

For more information, please contact: 
Gjest Breistein, CFO: gjest.breistein@lytixbiopharma.com
Ole Peter Nordby, Head of IR & Communication Manager:
ole.peter.nordby@lytixbiopharma.com

Lytix Biopharma in brief 
Based in Oslo, Norway, Lytix 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
therapeutic principle to 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 and potent
immunostimulants. This mode of action allows cytotoxic T cells to recognize,
infiltrate and attack cancer cells.