Waverley Pharma Announces Successful Tender Award for Pemetrexed with NHS England

WINNIPEG, MB, May 27, 2021 /CNW/ - Waverley Pharma Inc. ("Waverley Pharma" or the "Company") (TSXV: WAVE), a Canadian pharmaceutical company, is pleased to announce that its wholly owned Irish subsidiary, Waverley Pharma Europe Limited ("WPEL"), has been awarded exclusive distribution rights for two strengths of pemetrexed (100mg and 500mg) by the National Health Service of England ("NHS England") for the Central and South West Region of England.

The awarded NHS England tender is the Company's first awarded tender for pemetrexed in the United Kingdom ("UK"). The awarded tender has the following projected annual supply quantities based on the award debrief provided by NHS England:

• pemetrexed 100mg – 10,500 vials
• pemetrexed 500mg – 9,300 vials

The tender will commence on June 15, 2021 and has a duration of 12.5 months. WPEL continues to apply for additional tenders in the UK and across the European Union ("EU") for pemetrexed and hopes to further increase its presence across Europe.

"Waverley Pharma is pleased to announce our first awarded pemetrexed tender in the UK, adding to the continued growth of our oncology presence in this market" stated Larry Thiessen, President and Chief Executive Officer.

About Waverley Pharma

Waverley Pharma is a pharmaceutical company focused on the development and commercialization of safe, effective, and affordable cancer therapeutics in the EU, United Kingdom and North American markets. The Company, through its subsidiary, is currently selling three generic oncology products in the United Kingdom, namely capecitabine, temozolomide and erlotinib. In addition, the Company is developing two generic oncology products in Europe, namely pemetrexed and bortezomib and additional products in the United States. Waverley Pharma is committed to providing patients with affordable prescription medicines that lower healthcare costs and provide a better quality of life. For more information on Waverley Pharma please visit www.waverleypharma.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information: Statements contained in this press release that are not statements of historical fact, including, without limitation, statements containing the words "believes", "may", "plans", "will", "estimates", "continues", "anticipates", "intends", "expects" and similar expressions, may constitute "forward-looking information" within the meaning of applicable Canadian and U.S. federal securities laws (such forward-looking information and forward-looking statements are hereinafter collectively referred to as "forward-looking statements"). Forward-looking statements include tender awards and other estimates, analysis and opinions of management of the Company made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors which the Company believes to be relevant and reasonable in the circumstances. Inherent in forward-looking statements are known and unknown risks, uncertainties and other factors beyond the Company's ability to predict or control that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements, and as such, readers are cautioned not to place undue reliance on forward-looking statements. Such risk factors include, among others, the Company's potential product revenues, stage of development, additional capital requirements, risks associated with obtaining regulatory approval to market the Company's products, the ability to protect its intellectual property, dependence upon collaborative partners, changes in government regulation or regulatory approval processes, and rapid technological change in the industry. Such statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: general business and economic conditions; the impact of changes in Canadian-US dollar and other foreign exchange rates on the Company's revenues, costs and results; the timing of the receipt of regulatory and governmental approvals for the Company's research and development projects; the availability of financing for the Company's commercial operations and/or research and development projects, or the availability of financing on reasonable terms; the uncertainties associated with the acceptance and demand for new products and market competition. The foregoing list of important factors and assumptions is not exhaustive. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements or the foregoing list of factors, other than as may be required by applicable legislation. Additional discussion regarding the risks and uncertainties relating to the Company and its business can be found in the Company's other filings with the applicable Canadian securities regulatory authorities.

SOURCE Waverley Pharma Inc.

Haaris Uddin, Chief Financial Officer by phone: [phone] or by E-mail: [email protected], or visit www.waverleypharma.com