VELAN ANNOUNCES ELECTION OF DIRECTORS

MONTRÉAL, July 8, 2022 /CNW Telbec/ - Velan Inc. (the "Corporation") (TSX: VLN) announced today that each director nominee listed in the Management Proxy Circular dated May 18, 2022, was elected as Director of the Corporation during the Annual Meeting of the Shareholders held on July 7, 2022, in Montréal, Québec.

The details of the election are as follows:

Director Nominee	Outcome	Votes for	% for	Votes withheld	% withheld
James A. Mannebach	elected	80,271,048	99.55 %	365,900	0.45 %
Suzanne Blanchet	elected	80,629,548	99.99 %	7,400	0.01 %
Bruno Carbonaro	elected	80,441,876	99.76 %	195,072	0.24 %
Dahra Granovsky	elected	80,607,248	99.96 %	29,700	0.04 %
Edward Kernaghan	elected	80,278,248	99.56 %	358,700	0.44 %
Ivan Velan	elected	80,402,876	99.71 %	234,072	0.29 %
Peter Velan	elected	80,049,376	99.27 %	587,572	0.73 %
Robert Velan	elected	80,072,676	99.30 %	564,272	0.70 %
Tom Velan	elected	80,405,076	99.71 %	231,872	0.29 %

The results of the final votes regarding all matters subject to a vote during the Annual Meeting will be made available under the Corporation's profile on SEDAR (www.sedar.com).

SOURCE Velan Inc.

Bruno Carbonaro, Chief Executive Officer and President, Tel: [phone] or Rishi Sharma, Chief Financial Officer, Tel: [phone]