– Frank Gleeson, Satellos CEO, to participate in a panel discussion titled "Research Row: PPMD Moving the Needle" on June 29, 2024 –

Satellos Bioscience Inc. (“Satellos” or the “Company”) (TSX: MSCL, OTCQB: MSCLF), a public biotech company developing new small molecule therapeutic approaches to improve the treatment of muscle diseases and disorders, today announced that Frank Gleeson, Satellos CEO, will join leading members of the Duchenne medical and scientific community during a panel discussion at PPMD's 30th Annual Conference being held from June 27–29, 2024 in Orlando, Florida.

"For three decades, PPMD has demonstrated unwavering dedication to groundbreaking research and treatments, nurturing a supportive community," said Frank Gleeson, Co-founder and CEO of Satellos. "I am immensely honoured to be invited to participate in this prestigious event. More importantly, we are proud to have been a recipient of a programmatic investment by PPMD in 2021 that has supported our crucial work towards developing an oral drug candidate that might offer an improved treatment option for all Duchenne patients, regardless of genetic mutation."

Gleeson added, "PPMD and its indomitable founder and CEO, Pat Furlong, have been committed to exploring and supporting improved treatments, quality of life and long-term outlook for all individuals affected by Duchenne—we are truly gratified to partner with PPMD and I look forward to achieving remarkable outcomes together."

“I am so proud of our PPMD community—people living with Duchenne, families, caregivers, healthcare providers, our employees and volunteers, industry partners and donors—all of whom have played an important role in shaping and advancing the treatment of Duchenne,” said Pat Furlong, PPMD’s Founding President and CEO. "As we endeavor to improve treatments, we hope to inspire excellence in the biopharma industry so that, with innovative approaches to treating Duchenne, we can achieve our mission to end this disease. I am encouraged by the promising work that has been done by Satellos to create and develop a drug candidate designed to address an unmet medical need in Duchenne by restoring the body’s own muscle stem cells’ ability to repair and regenerate muscles.”

Satellos intends to submit a regulatory package in July to initiate a first-in-human Phase 1 clinical trial, in the third quarter of 2024, that will evaluate the safety and pharmacokinetic properties of SAT-3247 in healthy human volunteers.

About SAT-3247

SAT-3247 is designed as a once-daily, oral small molecule drug that targets the root cause of muscle loss in degenerative diseases, initially in Duchenne. SAT-3247 presents a novel mechanism of action to restore impaired muscle regeneration caused by the absence of functional dystrophin.

About Duchenne Muscular Dystrophy

Duchenne muscular dystrophy is an inherited disease caused by mutations in the dystrophin gene that no longer allow the dystrophin protein to function properly. Consequently, as discovered by Satellos, muscle repair and regeneration are impaired. Satellos designed SAT-3247 to restore the process of muscle repair and regeneration by regulating a dystrophin-independent pathway with the goal of increasing muscle function. SAT-3247 is intended to work as a standalone therapeutic without regard to a patient’s genetic mutation or ambulatory status. This approach has the potential to complement approaches designed to restore dystrophin production.

About Satellos Bioscience Inc.

Satellos is a publicly traded biotechnology company dedicated to developing life-improving medicines to treat degenerative muscle diseases. Satellos has incorporated breakthrough research in muscle stem cell polarity into a proprietary discovery platform, called MyoReGenX™, to identify degenerative muscle diseases where deficits in this process affect muscle regeneration and are amenable to therapeutic intervention. With this platform, Satellos is building a pipeline of novel therapeutics to correct muscle stem cell polarity and promote the body’s innate muscle repair and regeneration process. The Company’s lead program is an oral, small molecule drug candidate in development as a potential disease-modifying treatment for Duchenne muscular dystrophy. Satellos is headquartered in Toronto, Ontario. For more information, visit www.satellos.com.

Notice on Forward-Looking Statements

This press release includes forward-looking information or forward-looking statements within the meaning of applicable securities laws regarding Satellos and its business, which may include, but are not limited to, statements regarding the anticipated benefits to patients from an oral small molecule treatment for Duchenne; the ability to achieve remarkable outcomes; the advancement of our lead drug candidate into clinical trials; the pharmacodynamic properties and mechanism-of-action of our lead drug candidate; the general benefits of modulating stem cell polarity by administering small molecule drugs; its/their prospective impact on Duchenne patients; that our approach has the potential to complement approaches designed to restore dystrophin production; the utility of regenerating muscle by modulating polarity; and Satellos’ technologies and drug development plans. All statements that are, or information which is, not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, occurrences or developments, are “forward-looking information or statements.” Often but not always, forward-looking information or statements can be identified by the use of words such as “shall”, “intends”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “anticipate”, “potential”, “prospective” , “assert” or any variations (including negative or plural variations) of such words and phrases, or state that certain actions, events or results “may”, “might”, “can”, “could”, “would” or “will” be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current expectations and views of future events of the management of the Company. They are based on assumptions and subject to risks and uncertainties. Although management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events and circumstances discussed in this release, may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company, including, without limitation, risks relating to the pharmaceutical and bioscience industry (including the risks associated with preclinical and clinical trials and regulatory approvals), and the research and development of therapeutics, the results of preclinical and clinical trials, general market conditions and equity markets, economic factors and management’s ability to manage and to operate the business of the Company generally, including inflation and the costs of operating a biopharma business, and those risks listed in the “Risk Factors” section of Satellos’ Annual Information Form dated March 26, 2024 (which is located on Satellos’ profile at www.sedarplus.ca). Although Satellos has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on any forward-looking statements or information. No forward- looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Satellos does not undertake any obligation to publicly update or revise any forward-looking statement, whether resulting from new information, future events, or otherwise.

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