EUROPEAN INVESTMENT BANK PROVIDES MINORYX WITH UP TO 25 MILLION TO SUPPORT DEVELOPMENT OF BREAKTHROUGH THERAPIES IN ORPHAN NEURODEGENERATIVE DISEASES

Matar, Barcelona, Spain and Gosselies, Belgium, October 30, 2020 Minoryx Therapeutics, a Phase 3 clinical stage biotech company focused on the development of differentiating treatment options in orphan central nervous system (CNS) disorders, today announces that the European Investment Bank (EIB) has approved a 25 million financing.

The EU bank will grant long-term financing to Minoryx to drive the companys research and development activities in orphan genetic diseases for which there are currently no approved drugs available. The EIB investments will specifically support the development of Minoryxs leriglitazone, a differentiated, disease-modifying PPAR-y agonist currently being evaluated in three late-stage clinical trials:

Estimates indicate that the investment in this research, development and innovation (RDI) project will help create over 50 jobs during the implementation phase.

EIB Vice-PresidentRicardo Mourinho Flix, who is responsible for the Banks operations inSpain, said: We are very happy to sign an agreement that reaffirms the EIBs commitment to fostering innovation in the healthcare sector by driving the development of new treatments that will have a positive impact on the quality of life of people affected by rare diseases of the central nervous system. Our support for the research programme of Minoryx, a Spanish biotech company, will also help to improve the competitiveness of the European pharmaceutical industry and create highly skilled jobs.

European Commissioner for the Economy, Paolo Gentiloni, said:This EU support will help Minoryx to develop breakthrough therapies for genetic diseases and treatments for diseases of the central nervous system. The coronavirus pandemic has shown how important it is to continue to push scientific boundaries and deliver medication for rare diseases. The European Commission will continue to support companies efforts in this sense at every opportunity.

The EIB brings Minoryx valuable financial resources, alongside our strong and supportive shareholders base, which, we believe, is a clear endorsement of the potential of leriglitazone to improve the lives of patients living with debilitating neurodegenerative disorders,saidDidier Le Normand, Group CFO and General Manager, Belgium.

The current clinical studies with leriglitazone continue to advance as planned and we remain on track to report topline data from the pivotal ADVANCE study before the end of the year,added Dr Marc Martinell, Co-Founder and CEO of Minoryx.

The EIB will provide funds for this RDI project by way of a venture debt operation under theEuropean Fund for Strategic Investments (EFSI), a financing instrument used by the EU bank to assist leading companies in innovative research sectors. Since it was launched by the EIB under the Juncker Plan in 2016, this initiative has granted over 2billion in financing for projects in sectors such as robotics, artificial intelligence and biomedicine. EIB venture debt financing targets European companies with up to 3,000 employees in the fields of biotechnology and health sciences, software and ICT, engineering and automation, and renewable energy and clean technology.

About the EIB

TheEIB Groupcomprises the European Investment Bank (EIB) andEuropean Investment Fund(EIF). The EIB is the European Unions long-term lending institution owned by its Member States. In 2019, the EIB provided 63.3billion for projects across the world, including investments for healthcare, SMEs and climate action. Spain was among the largest beneficiaries of this financing, receiving almost 9billion.

About EIB venture debt and Investment Plan for Europe

The EIBs venture debt product is a financing instrument that supports startup and fast-growing innovative companies in cutting-edge technology sectors. It combines the advantages of a long-term loan with a remuneration model based on the companys performance. Venture debt transactions help strengthen the borrowers economic capital without diluting the shares of existing investors. The product, developed four years ago in response to market needs, is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe. The European Fund for Strategic Investments (EFSI) is the main pillar of theInvestment Plan for Europe. It provides first-loss guarantees enabling the EIB to invest in more and often riskier projects. The projects and agreements approved for financing under the EFSI have mobilised 535.4 billion in investment so far, a quarter of which is supporting research, development and innovation projects.

About Minoryx

Minoryx is a clinical stage biotech company focusing on the development of novel therapies for orphan CNS diseases with high unmet medical needs. The companys lead program, leriglitazone (MIN-102), a novel, selective PPARy agonist, is currently being evaluated in X-ALD and Friedreichs Ataxia. The company is backed by a syndicate of experienced investors, which includes Caixa Capital Risc, Roche Venture Fund, Ysios Capital, Kurma Partners, Fund+, Chiesi Ventures, S.R.I.W, Idinvest, SFPI-FPIM, HealthEquity and Sambrinvest, and has support from a network of other organizations. Minoryx was founded in 2011, has operations in Spain and Belgium and has so far raised more than 60M.

http://www.minoryx.com

About leriglitazone

Leriglitazone (MIN-102) is a novel bioavailable and selective PPAR-? agonist with a potential best-in-class profile indicated for CNS diseases. It has demonstrated sufficient brain penetration and a favorable safety profile. It showed robust preclinical proof-of-concept in animal models of multiple diseases by modulating pathways leading to mitochondrial dysfunction, oxidative stress, neuroinflammation, demyelination and axonal degeneration. Leriglitazone has successfully completed a Phase 1 clinical trial showing good safety, tolerability and CNS engagement of PPAR-y receptors at levels equivalent to those required for efficacy in preclinical models. Leriglitazone has the potential to treat several CNS disorders, including orphan diseases, and is currently being evaluated in a registration enabling Phase 2/3 study in AMN, a registration enabling Phase 2 in cALD and in a Phase 2 in Friedreichs Ataxia.

About X-ALD

X-ALD (X-linked adrenoleukodystrophy) is an orphan neurodegenerative disease. AMN and cALD are the two most common phenotypes of X-ALD, which account for 45% and 35% respectively. The global incidence of X-ALD is approximately 6.2/100,000 live births.

The age of onset of cALD patients is typically 4-8 years old. Untreated patients progress quickly, as severe neurological function impairment appears 6-24 months after disease onset, leading to early death in 2-4 years.

AMN is characterized by progressive spastic paraparesis, sensory dysfunction and incontinence. This form progresses chronically with onset of symptoms typically in adulthood and poor prognosis.

There is currently no therapeutic treatment available for X-ALD. Several observational studies have demonstrated that hematopoietic stem cell transplantation (HSCT) may improve the five-year overall survival for cALD patients. However, there is no evidence that HSCT improves clinical outcomes of patients with AMN.

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European Investment Bank provides Minoryx with up to 25 million to support development of breakthrough therapies in orphan neurodegenerative diseases...