IX Biopharma : Expands Wafer Production Capacity to Meet Growing Demand

(Co. Reg. No: 200405621W)

_________________________________________________________________________________________________

NEWS RELEASE

iX Biopharma Expands Wafer Production Capacity

to Meet Growing Demand

• New freeze-dry equipment to commence production from July 2021
• Increased capacity to enable economies of scale, ability to pursue
  commercial partnerships including new markets

Singapore, 2 June 2021 - Specialty pharmaceutical company iX Biopharma Ltd (SGX:42C) ("iX Biopharma" or, "the Company") is set to expand its current wafer production capacity at its manufacturing facility in Australia, following the installation and commissioning of its new freeze-dry production equipment. The expanded capacity will afford iX Biopharma the ability to pursue commercial partnerships, invest in marketing opportunities and expand into new markets.

With the new freeze-dry equipment in place, iX Biopharma's production capacity for its WaferiX sublingual wafers will be boosted by up to six times the current capacity. The Company is on track to produce its first commercial batch of wafers in July 2021 and expects to benefit from improved operational efficiency and economies of scale.

The Company had previously planned to scale up its wafer production capacity by April 2020 to meet rising demand following the expansion of its Entity brand of nutraceutical products to China, and the launch of Xativa, its medicinal cannabis in Australia. These plans were hampered by disruptions in the global supply chain due to border closures implemented by governments worldwide in a bid to contain the Covid-19 pandemic.

Dr Janakan Krishnarajah, Chief Operating Officer of iX Biopharma, said, "The capacity expansion is a major milestone for the Group. The market response to our products, particularly the wafer-based ones like LumeniX and Xativa, has exceeded our expectations. We have received significant interest from potential partners looking to distribute our wafer products. Based on our market experience and discussions with potential commercial partners, we are confident of a continued growth in demand for our products going forward."

1

(Co. Reg. No: 200405621W)

_________________________________________________________________________________________________

About iX Biopharma Ltd

iX Biopharma is a specialty pharmaceutical and nutraceutical company listed on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST), operating a fully integrated business model from drug development to manufacturing and supply, with facilities in Australia. The Group is focused on the development and commercialisation of therapies for diseases of the central nervous system using novel, patent-protected formulations for sublingual delivery.

iX Biopharma has developed a patented drug delivery platform technology, WaferiX. WaferiX delivers drug sublingually via the mucosa for better absorption, faster onset of action and predictable effect. The WaferiX delivery platform is particularly useful for drug repurposing which is a growing trend with a global market worth over US$30 billion1 . Drug repurposing is where existing approved drugs are developed into new drugs targeting different indications or a different route of administration, at a lower development cost and risk.

iX Biopharma's pipeline of products under development includes Wafermine (ketamine wafer) and BnoX (buprenorphine wafer) for pain management. iX Biopharma's drugs for the treatment of erectile dysfunction, Wafesil, a sublingual sildenafil wafer, and Silcap, have been registered in Australia and Singapore. iX Biopharma has developed Xativa, the world's first freeze-dried sublingual medicinal cannabis wafer.

The Group's nutraceuticals division, Entity Health Limited, is engaged in the development and commercialisation of nutraceutical products that address specific conditions and improve quality of life. It distributes its Entity line of nutraceutical products in Australia through more than 250 pharmacies and health food shops, in China through its flagship stores on Tmall Global and JD Worldwide, and globally through its online store.

1 https://www.intechopen.com/books/drug-repurposing-hypothesis-molecular-aspects-and-therapeutic-applications/drug-repurposing-dr-an-emerging-approach-in-drug-discovery

2

(Co. Reg. No: 200405621W)

_________________________________________________________________________________________________

Contact for media:
Yee Chia Hsing	Eva Tan
Director of Corporate Affairs	Chief Commercial Officer
T: [phone]	T: [phone]
E:[e-mail]	E:[e-mail]
Alvina Tan
Media & Investor Relations Consultant
T: [phone]
E:[e-mail]

This announcement has been prepared by the Company and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President at 8 Anthony Road, #01- 01, Singapore 229957, telephone [phone].

3