PharmaTher Expands PharmaPatch Platform into GLP-1 for Obesity, Leveraging Its Ketamine and Psychedelic Patch Programs

PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) (the "Company" or "PharmaTher"), a specialty pharmaceutical company focused on unlocking the therapeutic potential of ketamine, psychedelics, and GLP-1 drugs for neuropsychiatric and obesity disorders, today announced a new strategic initiative to expand its PharmaPatch™ microneedle patch platform into GLP-1 therapies for the potential treatment of obesity.

PharmaTher's decision to enter the obesity market builds on the Company's successful development progress with its ketamine and multiple psychedelic compounds patch programs, including pre-IND-enabling work and published research demonstrating controlled, sustained delivery and flexible patch design principles.^1-6

"PharmaTher built PharmaPatch™ to solve real-world administration challenges delivering medicines in a patient-friendly form factor with the potential to support sustained drug exposure," said Fabio Chianelli, Founder and CEO of PharmaTher. "After advancing our ketamine and multiple psychedelic patch programs, we are now applying that platform to one of the largest and fastest-growing opportunities in global healthcare: GLP-1 therapy for obesity. Our objective is to develop a needle-free, at-home microneedle patch designed to support long-acting delivery-potentially up to one month from a single patch application."

Leveraging Ketamine and Psychedelic Patch Progress to Accelerate Platform Expansion

PharmaTher's ketamine and psychedelic patch programs have been designed to enable controlled and sustained delivery and to reduce administration burden, with reported results supporting extended delivery, tolerability, and flexible dosing through patch size and drug loading parameters.^1-6 The Company believes these platform capabilities are directly relevant to GLP-1 therapies, where long-term adherence and convenience are important drivers of real-world effectiveness.

A Large U.S. Market Opportunity in Obesity and Diabetes

Obesity represents major and growing public health challenges in the United States. CDC reports that more than 2 in 5 U.S. adults have obesity.⁷ Industry forecasts underscore the scale of the commercial opportunity. Grand View Research estimates the U.S. obesity treatment market generated approximately $11.2 billion in 2024 and may reach approximately $48.5 billion by 2030, driven in part by GLP-1 therapies.⁸

Potential Benefits of a GLP-1 Microneedle Patch

PharmaTher's GLP-1 PharmaPatch™ initiative is designed to explore a differentiated delivery approach with the potential to offer several patient and product advantages versus conventional injection-based regimens, including:

• Needle-free administration using microneedle-enhanced intradermal delivery
• At-home convenience and a simplified patient experience
• Sustained, controlled delivery profile intended to support consistent drug exposure
• Flexible dosing potential through patch design variables (e.g., surface area, application time, drug loading), consistent with principles demonstrated in the Company's prior patch development work^2,3
• Targeting extended-duration delivery-potentially up to one month with a single patch application (subject to formulation optimization, preclinical results, and clinical validation)

Development Plan and Intellectual Property Strategy

PharmaTher plans to progress the GLP-1 PharmaPatch™ initiative through feasibility work and preclinical evaluation. The Company is finalizing a patent application covering innovations arising from this program and expects to file the application later this month.

About PharmaTher Holdings Ltd.

PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) is a specialty pharmaceutical company focused on acquiring and advancing assets that can be efficiently monetized to generate revenue, equity value, and strategic partnerships. The Company currently manages three assets: (i) KETARx™ portfolio of ketamine drugs and data; (ii) PharmaPatch™ microneedle patch platform delivering ketamine, psychedelics, and GLP-1 drugs for neuropsychiatric and obesity disorders; and (iii) a 49% equity interest in Sairiyo Therapeutics Inc., which is focused on a patented oral formulation of cepharanthine for infectious diseases and cancer. For more information, visit PharmaTher.com.

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary and Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws. Forward-looking information includes statements regarding the Company's GLP-1 PharmaPatch™ initiative; the potential benefits, dosing duration (including potential monthly dosing), and performance characteristics of a microneedle patch; development plans; market opportunity; and potential strategic or commercial outcomes. Forward-looking information is based on assumptions and is subject to risks, uncertainties, and other factors that could cause actual results to differ materially. Readers should not place undue reliance on forward-looking information. PharmaTher undertakes no obligation to update forward-looking information except as required by law. Other risk factors are described under the heading "Risk Factors" in the Company's management's discussion and analysis for the three months ended August 31, 2025, dated October 24, 2025, available under the Company's profile on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and the Company does not undertake any obligation to update or revise such information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful.

Footnotes / Sources

1. PharmaTher Holdings Ltd. "PharmaTher Advances Ketamine Patch as Non-Opioid Pain Relief Solution Leveraging FDA-Approved IV Ketamine Aligned with FDA's CNPV National Priority Initiative" (Aug. 27, 2025). PharmaTher Holdings Ltd. Ketamine
2. PharmaTher Holdings Ltd. "PharmaTher Announces Positive Results from Study For Ketamine Microneedle Patch" (June 29, 2022). PharmaTher Holdings Ltd. Ketamine
3. PharmaTher Holdings Ltd. "PharmaTher Announces Completion of IND-Enabling Pharmacokinetic and Tolerability Study with Ketamine Patch" (Sept. 7, 2022). PharmaTher Holdings Ltd. Ketamine
4. PharmaTher Holdings Ltd. "PharmaTher Announces Positive Research Results for Psilocybin Microneedle Patch" (Nov. 11, 2021). PharmaTher Holdings Ltd. Psilocybin
5. PharmaTher Holdings Ltd. "PharmaTher Announces Positive Research Results for LSD Microneedle Patch" (Dec. 14, 2021). PharmaTher Holdings Ltd. LSD
6. PharmaTher Holdings Ltd. "PharmaTher Announces Positive Research Results for PharmaPatch™ with N,N-dimethyltryptamine (DMT) and Strategic Investment into Sairiyo Therapeutics" (July 18, 2023). PharmaTher Holdings Ltd. DMT
7. U.S. Centers for Disease Control and Prevention (CDC). "Adult Obesity Facts" (May 14, 2024). CDC
8. Grand View Research. "U.S. Obesity Treatment Market Size & Outlook, 2025-2030" (market revenue estimates for 2024 and 2030). Grand View Research

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