Adenocarcinoma of large intestine

New patent granted in China for pharmaceutical composition of NT219 expands IP protection REHOVOT, Israel, Nov. 02, 2023 (GLOBE NEWSWIRE) -- Purple Biotech Ltd. ("Purple Biotech" or "the Company") (NASDAQ/TASE: PPBT), a clinical-stage company developing first-in-class therapies that harness the power of the tumor microenvironment to overcome tumor immune evasion and drug resistance, today announced that the China National Intellectual Property Administration (“CNIPA”) has granted a new patent for maintaining a pharmaceutical composition of NT219 in its active form. The new patent protects the method which prevents the conversion of NT219 from its active form to a less active form and supports maintenance of the active form during manufacturing, storage and handling until administered to the patient. The new patent granted in China (# CN 115466205 B) expands Purple Biotech’s patent protection for NT219 in China. The drug was previously issued patent in China that relates to the combinations of NT219 with various anti-cancer agents. NT219 is being developed for the treatment of head and neck cancer, a large market opportunity in China. Recent data demonstrate NT219’s activity in the treatment of recurrent and metastatic squamous cell carcinoma of the head and neck (SCCHN) in a Phase 1 dose escalation study in combination with cetuximab. Patients continue to be treated with higher dose for optimization prior to entering a Phase 2 study. “Expanding patent protection for NT219’s composition is strategic for Purple Biotech and we believe that the grant of this new patent marks another step forward in our global intellectual property strategy. China is a large and important market opportunity for us, and strengthening our patent coverage improves our competitive positioning in this territory,” stated Purple Biotech CEO, Gil Efron. About Purple Biotech Purple Biotech Ltd. (NASDAQ/TASE: PPBT) is a clinical-stage company developing first-in-class therapies that seek to overcome tumor immune evasion and drug resistance. The Company's oncology pipeline includes NT219, CM24 and IM1240. NT219 is a dual inhibitor, novel small molecule that simultaneously targets IRS1/2 and STAT3. In a Phase 1/2 study of NT219, the Company is currently advancing it in a dose escalation as a monotherapy treatment of solid tumors, and in a dose escalation in combination with cetuximab for the treatment of recurrent and metastatic squamous cell carcinoma of the head and neck (SCCHN) or colorectal adenocarcinoma (CRC). These studies will be followed by an expansion phase of NT219 at its recommended Phase 2 level in combination with cetuximab in patients with recurrent and metastatic SCCHN. CM24 is a humanized monoclonal antibody that blocks CEACAM1, an immune checkpoint protein that supports tumor immune evasion and survival through multiple pathways. The Company is advancing CM24 as a combination therapy with anti-PD-1 checkpoint inhibitors in a Phase 2 study for the treatment of pancreatic ductal adenocarcinoma (PDAC). The Company has entered into a clinical collaboration agreement with Bristol Myers Squibb for the Phase 2 clinical trials to evaluate the combination of CM24 with the PD-1 inhibitor nivolumab in addition to chemotherapy. IM1240 is a preclinical, conditionally-activated tri-specific antibody that engages both T cells and NK cells to mount a strong, localized immune response within the tumor microenvironment. The third arm specifically targets the Tumor Associated Antigen (TAA) 5T4 that is expressed in a variety of solid tumors and is correlated with advanced disease, increased invasiveness and poor clinical outcomes. IM1240 has a cleavable capping technology that confines the compound's therapeutic activity to the local tumor microenvironment, and thereby potentially increases the anticipated therapeutic window in patients. The Company's corporate headquarters are located in Rehovot, Israel. For more information, please visit . Forward-Looking Statements and Safe Harbor Statement Certain statements in this press release that are forward-looking and not statements of historical fact are forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements that are not statements of historical fact, and may be identified by words such as "believe", "expect", "intend", "plan", "may", "should", "could", "might", "seek", "target", "will", "project", "forecast", "continue" or "anticipate" or their negatives or variations of these words or other comparable words or by the fact that these statements do not relate strictly to historical matters. You should not place undue reliance on these forward-looking statements, which are not guarantees of future performance. Forward-looking statements reflect our current views, expectations, beliefs or intentions with respect to future events, and are subject to a number of assumptions, involve known and unknown risks, many of which are beyond our control, as well as uncertainties and other factors that may cause our actual results, performance or achievements to be significantly different from any future results, performance or achievements expressed or implied by the forward-looking statements. Important factors that could cause or contribute to such differences include, among others, risks relating to: the plans, strategies and objectives of management for future operations; product development for NT219, CM24 and IM1240; the process by which such early stage therapeutic candidates could potentially lead to an approved drug product is long and subject to highly significant risks, particularly with respect to a joint development collaboration; the fact that drug development and commercialization involves a lengthy and expensive process with uncertain outcomes; our ability to successfully develop and commercialize our pharmaceutical products; the expense, length, progress and results of any clinical trials; the impact of any changes in regulation and legislation that could affect the pharmaceutical industry; the difficulty in receiving the regulatory approvals necessary in order to commercialize our products; the difficulty of predicting actions of the U.S. Food and Drug Administration or any other applicable regulator of pharmaceutical products; the regulatory environment and changes in the health policies and regimes in the countries in which we operate; the uncertainty surrounding the actual market reception to our pharmaceutical products once cleared for marketing in a particular market; the introduction of competing products; patents obtained by competitors; dependence on the effectiveness of our patents and other protections for innovative products; our ability to obtain, maintain and defend issued patents; the commencement of any patent interference or infringement action against our patents, and our ability to prevail, obtain a favorable decision or recover damages in any such action; and the exposure to litigation, including patent litigation, and/or regulatory actions, and other factors that are discussed in our Annual Report on Form 20-F for the year ended December 31, 2022 and in our other filings with the U.S. Securities and Exchange Commission ("SEC"), including our cautionary discussion of risks and uncertainties under "Risk Factors" in our Registration Statements and Annual Reports. These are factors that we believe could cause our actual results to differ materially from expected results. Other factors besides those we have listed could also adversely affect us. Any forward-looking statement in this press release speaks only as of the date which it is made. We disclaim any intention or obligation to publicly update or revise any forward-looking statement or other information contained herein, whether as a result of new information, future events or otherwise, except as required by applicable law. You are advised, however, to consult any additional disclosures we make in our reports to the SEC, which are available on the SEC's website, . CONTACTS: Company Contact: Lior Fhima Chief Financial Officer IR@purple-biotech.com

Revenues excluding Covid test sales increased 16.3% for first fiscal quarter of 2024 vs the first fiscal quarter of 2023 Company believes current cash position, forecasted revenue growth and corporate strategy is expected to enable it to achieve profitability GAAP gross margin percentage of 24.1% for the first fiscal quarter of 2024 improved substantially over -3.4% for the first fiscal quarter of 2023 Company completes pre-launch phase for inFoods IBS; veteran Vice President of sales and national accounts hired along with regional key account representatives IRVINE, Calif., Oct. 13, 2023 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA), (the “Company”) a global provider of advanced medical diagnostic and therapeutic products today reported financial results for the first quarter of fiscal 2024 ended August 31, 2023. Recent Highlights: Completes pre-launch phase of inFoods IBS, which remains on track for national market launch during calendar 2024. Several experienced sales professionals recently hired to enable broader adoption by additional GI physician groups. Company appointed diagnostics industry leader Jack Kenny (former CEO of Meridian Biosciences) to Biomerica’s board of directors, bringing a wealth of commercial experience and relationships in the medical diagnostic industry with insights that will be invaluable for the launch of inFoods IBS both domestically and internationally. Announced that the Dubai government has officially approved insurance reimbursement for the EZ Detect product providing qualified Dubai residents access to government-paid at-home screening to detect an early warning sign of colorectal cancer and other colorectal diseases. Colorectal cancer (“CRC”) is the second most common cause of cancer death in the UAE [1]. “Our commercial progress during the quarter is now driving top-line revenue growth toward profitability,” said Zackary Irani, CEO of Biomerica. “With inFoods IBS as our main focus along with a variety of effective at-home, point-of-care and clinical lab products that provide significant ease of use, we feel we are well positioned to expand our diversified sales opportunities on multiple fronts while meeting our financial targets to grow the business and shareholder value.” First Quarter Fiscal 2024 Financial Results Net sales for the fiscal first quarter 2024 were $1.7 million, up from $1.6 million for the fiscal first quarter of 2023. Further, excluding sales of Covid related products during fiscal first quarter 2023, net sales for the fiscal first quarter 2024 were 16.3% higher than sales during fiscal first quarter of 2023. All revenues are now coming from products that focus on existing and largely unmet IBS, GI, colorectal and other health-related sales expansion opportunities. With a tight focus on controlling expenses while growing sales, total operating expenses for the quarter were $1.6 million, down from $2.0 million for the year-ago quarter. As a result of carefully managing operating expenses while maintaining top-line revenue growth toward achieving profitability, net loss for the fiscal first quarter of 2024 was $1.1 million, or approximately 48% lower than the net loss of $2.1 million reported in the fiscal first quarter of 2023. As of August 31, 2023, the Company had cash and equivalents of $8.0 million. Selected Financial Result Quarter Ended Quarter Ended August 31, 2023 August 31, 2022(Numbers in millions, except percentages) Revenue $1.7 $1.6 Gross margin 24.1% (3.4%)Operating expenses $1.6 $2.0 Operating loss ($1.2) ($2.1)Net Loss ($1.1) ($2.1)Cash and equivalents, restricted cash, and short-term investments $8.0 $6.1 About Biomerica (NASDAQ: BMRA)Biomerica, Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica's primary focus is on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development. Humaid O. Al-Shamsi, Amin M. Abyad, and Saeed Rafii, A Proposal for a National Cancer Control Plan for the UAE:2022–2026. Clin. Pract. 2022, 12, 118–132. About inFoods® The inFoods IBS test is designed to assess a patient’s above normal immunoreactivity to specific foods utilizing a simple finger prick blood sample. Instead of difficult to manage broad dietary restrictions, physicians can now use the inFoods IBS information to make targeted, patient-specific recommendations about specific foods that, when removed from the diet, may alleviate IBS symptoms such as pain, bloating, diarrhea and constipation. The inFoods IBS test and clinical outcomes were studied at several prominent centers including Mayo Clinic, Beth Israel Deaconess Medical Center Inc. - a Harvard Medical School Teaching Hospital, Houston Methodist Hospital, and the University of Michigan. The clinical results for improvement in the Abdominal Pain Intensity (API) responder endpoint of >30% reduction in pain, for IBS patients in the treatment diet arm was greater than patients in the placebo diet arm (p-value of 0.0246). The improvement for patients in the treatment arm versus the placebo arm is considered clinically significant and for certain endpoints is similar and, in some cases, better than the current drugs in the market. Further information about Biomerica’s patented inFoods® Technology Platform can be found at: https://biomerica.com/inFoods/our-technology/. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the Company’s current and future sales, revenues, overhead, expenses, cost of goods, operations, and earnings; the Company's need for raising additional capital; the Company's expected commercialization launch dates for the Company's inFoods IBS product; and diversification of the Company's revenue streams. Such forward-looking information is based upon the current beliefs and expectations of management and involves important risks and uncertainties that could significantly affect anticipated results. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Factors that could cause actual results to differ from those expressed in the forward-looking statements are discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the SEC and available on the SEC's website (www.sec.gov). The Company is under no obligation to update any forward-looking statements after the date of this release. Corporate Contact: Zack Irani 949-645-2111 investors@biomerica.com Source: Biomerica, Inc.

Revenues excluding Covid test sales increased 16.3% for first fiscal quarter of 2024 vs the first fiscal quarter of 2023 Company believes current cash position, forecasted revenue growth and corporate strategy is expected to enable it to achieve profitability GAAP gross margin percentage of 24.1% for the first fiscal quarter of 2024 improved substantially over -3.4% for the first fiscal quarter of 2023 Company completes pre-launch phase for inFoods IBS; veteran Vice President of sales and national accounts hired along with regional key account representatives IRVINE, Calif., Oct. 13, 2023 (GLOBE NEWSWIRE) -- Biomerica, Inc. (Nasdaq: BMRA), (the “Company”) a global provider of advanced medical diagnostic and therapeutic products today reported financial results for the first quarter of fiscal 2024 ended August 31, 2023. Recent Highlights: Completes pre-launch phase of inFoods IBS, which remains on track for national market launch during calendar 2024. Several experienced sales professionals recently hired to enable broader adoption by additional GI physician groups. Company appointed diagnostics industry leader Jack Kenny (former CEO of Meridian Biosciences) to Biomerica’s board of directors, bringing a wealth of commercial experience and relationships in the medical diagnostic industry with insights that will be invaluable for the launch of inFoods IBS both domestically and internationally. Announced that the Dubai government has officially approved insurance reimbursement for the EZ Detect product providing qualified Dubai residents access to government-paid at-home screening to detect an early warning sign of colorectal cancer and other colorectal diseases. Colorectal cancer (“CRC”) is the second most common cause of cancer death in the UAE [1]. “Our commercial progress during the quarter is now driving top-line revenue growth toward profitability,” said Zackary Irani, CEO of Biomerica. “With inFoods IBS as our main focus along with a variety of effective at-home, point-of-care and clinical lab products that provide significant ease of use, we feel we are well positioned to expand our diversified sales opportunities on multiple fronts while meeting our financial targets to grow the business and shareholder value.” First Quarter Fiscal 2024 Financial Results Net sales for the fiscal first quarter 2024 were $1.7 million, up from $1.6 million for the fiscal first quarter of 2023. Further, excluding sales of Covid related products during fiscal first quarter 2023, net sales for the fiscal first quarter 2024 were 16.3% higher than sales during fiscal first quarter of 2023. All revenues are now coming from products that focus on existing and largely unmet IBS, GI, colorectal and other health-related sales expansion opportunities. With a tight focus on controlling expenses while growing sales, total operating expenses for the quarter were $1.6 million, down from $2.0 million for the year-ago quarter. As a result of carefully managing operating expenses while maintaining top-line revenue growth toward achieving profitability, net loss for the fiscal first quarter of 2024 was $1.1 million, or approximately 48% lower than the net loss of $2.1 million reported in the fiscal first quarter of 2023. As of August 31, 2023, the Company had cash and equivalents of $8.0 million. Selected Financial Result Quarter Ended Quarter Ended August 31, 2023 August 31, 2022 (Numbers in millions, except percentages) Revenue $1.7 $1.6 Gross margin 24.1% (3.4% ) Operating expenses $1.6 $2.0 Operating loss ($1.2 ) ($2.1 ) Net Loss ($1.1 ) ($2.1 ) Cash and equivalents, restricted cash, and short-term investments $8.0 $6.1 About Biomerica (NASDAQ: BMRA) Biomerica, Inc. ( ) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic and therapeutic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being of people, while reducing total healthcare costs. Biomerica's primary focus is on gastrointestinal and inflammatory diseases where the Company has multiple diagnostic and therapeutic products in development. Humaid O. Al-Shamsi, Amin M. Abyad, and Saeed Rafii, A Proposal for a National Cancer Control Plan for the UAE:2022–2026. Clin. Pract. 2022, 12, 118–132. About inFoods® The inFoods IBS test is designed to assess a patient’s above normal immunoreactivity to specific foods utilizing a simple finger prick blood sample. Instead of difficult to manage broad dietary restrictions, physicians can now use the inFoods IBS information to make targeted, patient-specific recommendations about specific foods that, when removed from the diet, may alleviate IBS symptoms such as pain, bloating, diarrhea and constipation. The inFoods IBS test and clinical outcomes were studied at several prominent centers including Mayo Clinic, Beth Israel Deaconess Medical Center Inc. - a Harvard Medical School Teaching Hospital, Houston Methodist Hospital, and the University of Michigan. The clinical results for improvement in the Abdominal Pain Intensity (API) responder endpoint of >30% reduction in pain, for IBS patients in the treatment diet arm was greater than patients in the placebo diet arm (p-value of 0.0246). The improvement for patients in the treatment arm versus the placebo arm is considered clinically significant and for certain endpoints is similar and, in some cases, better than the current drugs in the market. Further information about Biomerica’s patented inFoods® Technology Platform can be found at: . The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements relating to the Company’s current and future sales, revenues, overhead, expenses, cost of goods, operations, and earnings; the Company's need for raising additional capital; the Company's expected commercialization launch dates for the Company's inFoods IBS product; and diversification of the Company's revenue streams. Such forward-looking information is based upon the current beliefs and expectations of management and involves important risks and uncertainties that could significantly affect anticipated results. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Factors that could cause actual results to differ from those expressed in the forward-looking statements are discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed with the SEC and available on the SEC's website ( ). The Company is under no obligation to update any forward-looking statements after the date of this release. Corporate Contact: Zack Irani 949-645-2111 investors@biomerica.com Source: Biomerica, Inc.