Waverley Pharma Provides Update on its PARP-1 Inhibitor Program

WINNIPEG, MB, Jan. 11, 2023 /CNW/ - Waverley Pharma Inc. ("Waverley Pharma" or the "Company") (TSXV: WAVE), a Canadian pharmaceutical company, is pleased to provide an update on the status of its oncology focused PARP-1 inhibitor program. Based on growing interest in new PARP-1 inhibitors with selective activity against PARP-1 over PARP-2, the Company has renewed its focus on completing its PARP-1 pre-clinical development program, which is at the lead optimization stage.  The current lead compound has single digit nanomolar activity and significant selectivity to PARP-1 over PARP-2.

It is postulated that the effect of chemotherapy and radiation therapy is dampened by DNA repair enzymes 1 Poly (ADP-Ribose) Polymerase-1 (PARP-1) which belongs to the PARP family of enzymes and is involved in the detection  and repair of DNA damage. PARP-1 inhibitors are a class of anti-cancer agents targeting DNA repair mechanism. The inhibition of PARP-1 is of clinical importance in various types of cancer.  PARP-1 inhibitors have shown great potential to target high-grade ovarian cancers and triple-negative breast cancers which are resistant to current treatment. PARP-1 inhibitors can be used as a monotherapy to selectively kill cancer cells and in combination with other therapies.

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 four generic oncology products in the United Kingdom, namely capecitabine, temozolomide, pemetrexed and bortezomib. In addition, the Company has received marketing approval for pemetrexed and bortezomib in Europe and 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.

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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 the future development of the Company's PARP-1 inhibitor program, 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