“Mendus focuses on changing the course of cancer treatment by developing immunotherapies that combine durable clinical responses with a benign safety profile. We do so by making use of our unique expertise in allogeneic dendritic cell biology. Durability of response and safety are particularly relevant in maintenance therapies, aimed at the prevention of tumor recurrence.

The positive Phase 2 data we presented at the American Society for Hematology conference last December for our lead program DCP-001 in acute myeloid leukemia (AML) underline these principles. The data provide the basis for broader positioning and, eventually, the path to market registration of DCP-001 as a new maintenance treatment in AML. In 2022, we also reported the first positive clinical safety data with DCP-001 in ovarian cancer and completed the preparations for a next clinical trial with our intratumoral primer ilixadencel.

In January 2023, the World Health Organization (WHO) confirmed that they selected vididencel as the International Non-proprietary Name (INN) for DCP-001, and we will start using the name vididencel in our future communication. Finally, our preclinical research resulted in a novel method for the expansion of memory NK cells, potentially creating the starting point for a promising new pipeline program in the exciting upcoming field of NK cell-based therapies.

We are very happy with the progress we have made on all fronts in 2022 and the continued commitment of our entire team to develop impactful new cancer therapies. For 2023, we have taken necessary steps to focus on our most value-generating projects.”

Erik Manting, Ph.D., Chief Executive Officer of Mendus AB

SIGNIFICANT EVENTS IN Q4 2022

• Mendus presented positive survival and immunomonitoring data from the ADVANCE II trial evaluating DCP-001 as a maintenance therapy in AML at the American Society of Hematology (ASH) meeting
• Mendus hosted a key opinion leader event on immunotherapy for maintenance treatment of Acute Myeloid Leukemia patients in remission
• Mendus secured a first shareholder loan from Van Herk Investments and signs the final documentation with Negma Group
• Mendus presented data at SITC 2022 demonstrating the potential of the DCOne platform to expand memory NK cells for therapeutic purposes
• Mendus secured a manufacturing partner for establishing the potential pivotal trial-stage and commercial production of DCP-001
• Mendus reported positive clinical and preclinical data in ovarian cancer at the European Society of Gynaecological Oncology 2022 Congress
• Mendus received final payment as a result of the completion of the EU Horizon 2020 AML-VACCiN project
  
  

SIGNIFICANT EVENTS AFTER END OF REPORTING PERIOD

• Mendus announced the request of a first tranche of the convertible loan from
  Negma Group
  
  

FINANCIAL SUMMARY

The Q4 2022 report is available on: https://mendus.com/investors/financial-reports/

FOR MORE INFORMATION, PLEASE CONTACT:

Erik Manting

Chief Executive Officer

E-mail: ir@mendus.com

INVESTOR RELATIONS

Corey Davis

LifeSci Advisors, LLC

Telephone: + 1 212-915-2577

E-mail: cdavis@lifesciadvisors.com

MEDIA RELATIONS

Mario Brkulj

Valency Communications

Telephone: +49 160 9352 9951

E-mail: mbrkulj@valencycomms.eu

ABOUT MENDUS AB (PUBL)

Mendus is dedicated to changing the course of cancer treatment by addressing tumor recurrence and improving survival outcomes for cancer patients, while preserving quality of life. We are leveraging our unparalleled expertise in allogeneic dendritic cell biology to develop an advanced clinical pipeline of novel, off-the-shelf, cell-based immunotherapies which combine clinical efficacy with a benign safety profile. Based in Sweden and The Netherlands, Mendus is publicly traded on the Nasdaq Stockholm under the ticker IMMU.ST. http://www.mendus.com/