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Appointments Add Deep Biopharmaceutical Commercial Strategy, Clinical and Finance Expertise as Company Advances Toward Potential Cytisinicline Approval and Launch SEATTLE and VANCOUVER, British Columbia, June 02, 2026 (GLOBE NEWSWIRE) -- Achieve Life Sciences, Inc. (“Achieve” or the “Company”) (Nasdaq: ACHV), a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment for nicotine dependence, today announced that Jeffrey Farrow and Reid Waldman, MD have been appointed to its Board of Directors. “Jeffrey and Reid are exactly the kinds of operators you want around a board table when a company is preparing for its first launch,” said Lucian Iancovici, MD, incoming Chairman of the Board of Directors of Achieve. “Jeffrey has lived the playbook of taking specialty companies from late-stage development through approval, launch, and the kinds of value-creating outcomes that reward patients and shareholders alike. Reid is one of the most impressive biotech CEOs of his generation, a physician who has built and taken public a company that is reshaping a category. We are fortunate to have them on our team as we approach cytisinicline’s NDA resubmission and prepare for what comes next.” “I have known Jeffrey and Reid for years, in different contexts, and have learned a great deal from each of them,” said Andrew Goldberg, MD, Chief Executive Officer of Achieve Life Sciences. “Jeffrey is the rare CFO who can sit equally comfortably in a strategy room and a board room. Across Hyperion, Global Blood Therapeutics, and now Tarsus, he has been part of three commercial launches, and three of his companies have been acquired for an aggregate of more than $9 billion. That combination of launch experience and capital-markets insight is exactly what Achieve needs as we move toward our NDA resubmission and design the commercial organization. Reid is a builder with patient need at the center. He started Veradermics as a dermatologist with a clinical conviction, and following positive Phase 2/3 results with class-leading data has built a company that is reshaping its category. We are fortunate to have that kind of judgment as we think about how to communicate a new therapy to physicians and to the millions of people who want to quit.” Mr. Farrow currently serves as Chief Financial Officer and Chief Strategy Officer of Tarsus Pharmaceuticals, Inc. (Nasdaq: TARS), where he has helped guide the ongoing commercial launch of XDEMVY® (lotilaner ophthalmic solution) 0.25% for Demodex blepharitis, one of the most closely watched specialty ophthalmology launches in recent years. “Achieve is at the kind of inflection point where pre-approval specialty companies become important ones,” said Mr. Farrow. “The data behind cytisinicline are compelling, the market is large and underserved, and the financing and team that has come together over the past several months gives the Company an opportunity to successfully deliver the first new prescription smoking cessation medicine in nearly two decades. I am glad to join the Board to help as we move toward approval and launch.” Dr. Waldman is the Founder and Chief Executive Officer of Veradermics, Incorporated (NYSE: MANE), a clinical-stage biopharmaceutical company focused on developing innovative therapeutics for pattern hair loss. Veradermics completed an upsized initial public offering in February 2026 of approximately $294.8 million of gross proceeds, and subsequently raised an additional $472 million of gross proceeds in a follow-on offering and private placement in May 2026. “In clinic, I watched patients try to quit and fail, and fail again, and I have seen what that cycle does to families,” said Dr. Waldman. “Nicotine dependence is a chronic condition, and impacts treatment paradigms across all medical specialties, including my own. We have not had a meaningful new pharmacologic tool to help in over two decades, and we’ve never had a therapy for vaping, which is impacting so many young patients. The Phase 3 data for cytisinicline are the most encouraging I have seen in this space, and Andrew has assembled the kind of team that knows how to turn data into access for patients. I am honored to join the Board at this moment and to contribute what I have learned from both patient care and building a company.” About Jeffrey Farrow Jeffrey Farrow has served as Chief Financial Officer and Chief Strategy Officer of Tarsus Pharmaceuticals, Inc. since April 2023, where he has helped lead the ongoing commercial launch of XDEMVY® for Demodex blepharitis. Mr. Farrow has been Chief Financial Officer of four publicly traded biopharmaceutical companies, including three that were acquired for total transaction value of more than $9 billion. He previously served as Chief Financial Officer of Global Blood Therapeutics, Inc. from April 2016 until its acquisition by Pfizer for approximately $5.4 billion in December 2022, during which time the Company received FDA approval and commercially launched Oxbryta® for sickle cell disease. Prior to that, he served as Chief Financial Officer of ZS Pharma, Inc., acquired by AstraZeneca for approximately $2.7 billion in December 2015, and Chief Financial Officer of Hyperion Therapeutics, Inc. from January 2010 until its acquisition by Horizon Therapeutics for approximately $1.1 billion in May 2015, where he was part of the team that secured FDA approval and commercially launched RAVICTI® for urea cycle disorders. Earlier in his career, he held senior finance roles at Evotec AG and Renovis, Inc. (acquired by Evotec), and spent seven years in the audit practice of KPMG LLP. Mr. Farrow holds a B.A. in business administration with a concentration in corporate finance from California State University at Fullerton and is a certified public accountant (inactive). He currently serves on the Board of Directors of Clover Biopharmaceuticals, Ltd. and California Life Sciences (CLS). About Reid Waldman, MD Dr. Waldman is the Chief Executive Officer of Veradermics. Under his stewardship, he has positioned Veradermics for rapid growth by implementing a differentiated strategy centered on advancing therapeutics for under-innovated markets in aesthetics and dermatology. He has also successfully led the company through significant equity financings, and has advanced Veradermics’ lead asset, VDPHL01, a potential non-hormonal oral treatment for pattern hair loss, through positive Phase 2/3 results for men. Dr. Waldman is a board-certified dermatologist with more than 10 years of clinical experience. Prior to founding Veradermics, Dr. Waldman was a prolific researcher authoring more than 100 publications, including a textbook titled “Dermatology for the Primary Care Provider.” He has been the recipient of numerous accolades including the American Academy of Dermatology’s “Excellence in Patient Care” award. He earned his BA and his MD degrees from the University of Missouri–Kansas City 6-Year BA/MD Program and completed his dermatology residency with a “Distinction in Clinical Trials” at the University of Connecticut. About Cytisinicline There are approximately 25 million adults in the United States who smoke combustible cigarettes. 1 Tobacco use is currently the leading cause of preventable death, responsible for more than eight million deaths worldwide and nearly half a million deaths in the United States annually. 2,3 In addition, there are nearly 18 million adults in the United States who use e-cigarettes, also known as vaping. 1 In 2024, approximately 1.6 million middle and high school students in the United States reported using e-cigarettes. 4 There are no FDA-approved treatments indicated specifically as an aid to nicotine e-cigarette cessation. FDA has awarded the Commissioner’s National Priority Voucher for e-cigarette or vaping cessation and granted Breakthrough Therapy designation to address this critical need. Cytisinicline is a plant-based alkaloid with a high binding affinity to the nicotinic acetylcholine receptor. It is believed to aid in treating nicotine addiction for smoking and e-cigarette cessation by interacting with nicotine receptors in the brain, reducing the severity of nicotine craving symptoms, and reducing the reward and satisfaction associated with nicotine products. Cytisinicline is an investigational product candidate being developed as a treatment of nicotine dependence for smoking cessation and has not been approved by the FDA for any indication in the United States. About Achieve Life Sciences, Inc. Achieve Life Sciences, Inc. is a late-stage specialty pharmaceutical company focused on the global development and commercialization of cytisinicline as a treatment of nicotine dependence. Achieve’s New Drug Application (NDA) for cytisinicline for smoking cessation in adults is supported by two successfully completed Phase 3 studies and an open-label long-term safety study. Achieve has also completed a Phase 2 study of cytisinicline in nicotine e-cigarette cessation, conducted an end-of-Phase 2 meeting with the FDA, and has received Breakthrough Therapy designation for the vaping cessation indication. Forward-Looking Statements This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements Achieve makes regarding the timing, nature and outcome of cytisinicline clinical development and regulatory review and approval, data results, the timing, nature and success of Achieve’s commercialization activities, the potential market size for cytisinicline, the potential benefits, efficacy, safety and tolerability of cytisinicline, the development and effectiveness of new treatments, the performance of Achieve’s third-party manufacturing partners, the successful launch and commercialization of cytisinicline, and statements concerning Achieve Life Sciences’ future plans and prospects. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Achieve may not actually achieve its plans or product development goals in a timely manner, if at all, or otherwise carry out its intentions or meet its expectations or projections disclosed in these forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including those described in Achieve’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. Achieve undertakes no obligation to update the forward-looking statements contained herein or to reflect events or circumstances occurring after the date hereof, other than as may be required by applicable law. Achieve Contact Nicole Jones Vice President, Strategic Communications and Stakeholder Relations ir@achievelifesciences.com 425-686-1510 References 1 Agaku I. Tobacco Product Use Among U.S. Adults, 2023–2024. NEJM. doi: 10.1056/EVIDpha2500339. 2 World Health Organization. WHO Report on the Global Tobacco Epidemic, 2019. Geneva: World Health Organization, 2017. 3 U.S. Department of Health and Human Services. The Health Consequences of Smoking — 50 Years of Progress. A Report of the Surgeon General, 2014. 4 Jamal A, Park-Lee E, Birdsey J, et al. Tobacco Product Use Among Middle and High School Students — National Youth Tobacco Survey, United States, 2024. MMWR Morb Mortal Wkly Rep 2024;73:917–924.

HONG KONG, May 13, 2026 /PRNewswire/ -- METiS TechBio (7666.HK), a tech-bio company focused on AI-powered nanodelivery innovation, today successfully listed on the Hong Kong Stock Exchange (HKEX), becoming the world's first publicly listed AI-powered drug delivery company and the first AI-powered large-molecule biopharmaceutical company listed on the Hong Kong market. With the goal of becoming the "SpaceX of pharmaceuticals," METiS TechBio has, within six years of its founding, become the fastest unicorn in China's AI pharmaceutical sector to reach the IPO milestone. Continue Reading From left to right: Jin Li, Independent Non-Executive Director; Serena Shao, Head of Capital Markets & External Relation; Wenshou Wang, Co-Founder, Executive Director and COO; Dr. Chris Lai, Co-Founder, Chairman and CEO; Hongming Chen, Co-Founder, Executive Director and CRDO; Alan Fu, CFO; Peter Edward Lobie, Independent Non-Executive Director; and Frank Yee Chon Lyn, Independent Non-Executive Director, all of METiS TechBio. METiS TechBio's IPO was jointly sponsored by Jefferies, Deutsche Bank Securities Asia and CITIC Securities (Hong Kong). A total of 201,229,000 H shares were offered globally, raising over HKD 2.1 billion in proceeds and marking the largest healthcare IPO fundraising in Hong Kong so far in 2026. The Hong Kong public offering was oversubscribed by more than 6,900 times, locking up over HKD 730 billion in subscription funds, representing the highest subscription amount for the Hong Kong public offering among healthcare IPOs in Hong Kong so far in 2026. For the international placing, the Company received orders from more than 280 institutional investors and recorded 82 times oversubscription for the allocable tranche, also marking the highest international placing oversubscription multiple among healthcare IPOs in Hong Kong so far in 2026. METiS TechBio's Hong Kong IPO once again set a record for AI pharmaceutical IPOs in Hong Kong with a top-tier lineup of 18 cornerstone investors subscribing for a total of USD 148 million, securing comprehensive support from "global asset managers + specialized healthcare funds + AI technology funds + state-level funds + Chinese public fund managers." Among them, BlackRock, the world's largest asset manager, led the subscription with USD 50 million. Global asset management giants and ultra-long-term funds including UBS Asset Management Singapore, Mirae Asset of South Korea, and ORIX Corporation of Japan collectively made allocations. Guofengtou Innovation Investment Fund, a state-level fund, made its first investment in the AI pharmaceutical sector. Internationally renowned specialist healthcare funds, including Deerfield, RTW and Lake Bleu Capital, participated in the investment, while leading technology investment institutions, including Walden International, Hillhouse Capital and IDG Capital, also expanded their presence into the sector. Top Chinese public fund managers including GF Fund, ICBC UBS Asset Management, China Asset Management, and Fullgoal Fund also made a rare joint appearance as subscribers with lock-up commitments. This fully demonstrates that AI nanodelivery technology has risen to the level of a national strategic priority and key area of support, and has become a critical technology driving future growth and breakthroughs in global biopharmaceuticals. Dr. Chris Lai, Co-Founder, Chairman and Chief Executive Officer of METiS TechBio, stated: "The future of biomedicine will no longer be simply about 'taking medicine when one falls ill.' METiS TechBio's ambition is to harness AI to build nano-rockets that can navigate with precision through the inner space of the human body's 30 trillion cells, write the code of nucleic acids and proteins into cells, and reprogram diseased and aging cells into healthy cells. This was our founding aspiration, and it is the mission to which we will dedicate our lives. The IPO marks a new starting point for us to accelerate forward, and we will strive to live up to the support and trust we have received from all sectors." Proprietary World-First AI Nanodelivery Platform, Creating the First-Ever Data, Algorithms, and Models for AI for Nano METiS TechBio's core competitiveness stems from NanoForge, its proprietary world-first AI nanodelivery platform. The Company has built the world's largest ionizable lipid library at the scale of tens of millions, independently developed the world's only algorithm for de novo lipid generation and lipid language model, established the world's first end-to-end lipid and lipid nanoparticle (LNP) screening platform, and created the world's first AI-powered multiscale simulation platform for small-molecule formulation development. NanoForge encompasses AI foundation models, METiS AI agents, quantum chemistry and molecular dynamics simulations, and an AI-driven high-throughput screening platform, serving as the foundation of the Company's proprietary AI-driven nanotechnology innovation system. Building upon NanoForge, the Company has developed three technology solutions – AiTEM, AiLNP, and AiRNA – which can not only significantly shorten drug development timelines but also enhance drug safety and efficacy. Differentiated Innovative Pipeline Covering Major Disease Areas Including Immunology, Oncology and Metabolic Diseases, Supported by a World-First In Vivo Targeted Delivery System Based on the NanoForge platform, METiS TechBio has taken the lead in the industry in achieving precision targeted delivery to eight key organs and tissues: the liver, lungs, heart, muscles, tumor tissues, immune system, central nervous system, and gastrointestinal tract. Its pipeline products cover oncology, immunology, central nervous system disorders, metabolic diseases, and other areas. The Company has more than 10 pipeline products, including several candidates at the discovery stage, four preclinical candidates, three clinical-stage products, one pre-NDA product, and two animal health products. As of the Latest Practicable Date, the Company had filed a total of 224 patent applications and had been granted 52 patents. METiS TechBio has developed MTS-004, China's first AI-enabled formulation drug to complete a Phase III clinical trial. MTS-004 is the first and only PBA (pseudobulbar affect) drug in China to have completed clinical trials, and is expected to fill the gap in PBA drug treatment in China. The MTS-004 program took 38 months from project initiation to completion of the Phase III clinical trial. Through AiTEM's predictive analytics and advanced modeling technologies, the Company successfully reduced preclinical formulation development time from one to two years to less than three months. The "rocket + satellite" next-generation in vivo immunotherapy paradigm is a core capability through which METiS TechBio advances the development of its differentiated innovation pipeline. MTS-105 is a benchmark pipeline product designed to efficiently activate anti-tumor immunity within specific organs in vivo, with the potential to become the world's first in vivo mRNA-encoded TCE therapy for solid tumors, for the treatment of liver cancer and other advanced solid tumors with liver metastases. Leveraging its AiLNP and AiRNA platforms, METiS TechBio enables highly efficient expression of TCE in hepatocytes and liver cancer cells through specific liver-targeted LNP delivery, activating potent intratumoral immunity and thereby achieving powerful tumor cell killing. MTS-105 is currently in the IIT stage and has received Orphan Drug Designation from the U.S. FDA. Dual Engines of Platform Collaborations and Product Partnerships, Reinforcing Barriers Through a Closed Loop of Technology Iteration , Commercial Application, and Real-World Data Feedback In terms of commercialization strategy, METiS TechBio adopts a "platform collaboration + product partnership" dual-engine business model, forming a synergistic and recycling ecosystem of "technology iteration – commercial application – real-world data feedback." To date, METiS TechBio has more than 30 pharmaceutical and biotechnology partners worldwide, with customers primarily including global top-tier pharmaceutical companies, innovative biotechnology companies, and medical research institutions. METiS TechBio recorded revenue of RMB 105 million in 2025, primarily from the upfront payment for the MTS-004 product partnership. The total milestones for MTS-004 in the PBA indication amount to RMB 1.845 billion, with additional potential milestone payments of up to RMB 100 million for potential indication expansion. Meanwhile, a single-target contract in existing platform collaborations is valued at up to USD 109 million. The dual-engine business model has been preliminarily validated by the market. Core Senior Executives at the Founding-Team Level Joining Forces Across Disciplines, with Sustained Heavy Investment in R&D and Talent Development METiS TechBio's R&D team is led by its three co-founders. Building upon the Company's R&D centers in Beijing and Hangzhou, the team brings together multidisciplinary expertise spanning nanomaterials, chemistry, biology, physics, computational science, medicine, and other fields, providing strong support for innovation in AI nanodelivery and cross-disciplinary breakthrough research. The R&D team comprises more than 100 scientists and technical personnel, including approximately 40 Ph.D. holders. The majority of the Company's operating expenses are R&D-related, primarily including employee benefits for scientists and engineers, share-based compensation expenses, procurement of laboratory materials and equipment, and professional service fees (including fees paid to CROs). From 2023 to 2025, the Company maintained sustained high R&D expenditure of approximately RMB 270 million. METiS TechBio will always prioritize R&D as a key direction for strategic investment. Approximately 50.0% of the net proceeds from the IPO will be used to support core technology research, development, and advancement of its AI infrastructure and AI-driven nanomaterials platform; approximately 20.0% will be used for ongoing and planned clinical trials in its AI-developed product pipeline, advancing candidate drugs across multiple therapeutic areas and modalities; and approximately 10.0% will be used to develop animal health and anti-aging solutions and to expand AI-enabled solutions into these high-growth areas. SOURCE METiS TechBio 21% more press release views with Request a Demo