News Release

RLS-0071 is in development for treatment of Acute Lung Injury (ALI)
and Hypoxic Ischemic Encephalopathy (HIE)

Norfolk, VA, June 8, 2021 – ReAlta Life Sciences (“ReAlta”), Inc., a company addressing life-threatening diseases through harnessing the power of the immune system, today announced that it has received a $3.2 million grant award from The Virginia Catalyst, also known as the Virginia Biosciences Health Research Corporation (VBHRC), to accelerate the Company’s Phase 1b clinical trial evaluating RLS-0071 for the treatment of acute lung injury (ALI) due to COVID-19. The award, which is granted to Virginia companies to support the acceleration of clinical testing of therapeutic drugs that treat life threating symptoms caused by COVID-19, includes additional funding for the Company’s research partner, Old Dominion University of Norfolk, Virginia, to explore other clinical biomarkers relevant for RLS-0071 treatment of COVID-19 patients.

“COVID-19 remains a persistent and challenging global health emergency, despite the remarkable progress made by many countries with effective vaccination campaigns,” said Ulrich Thienel, M.D., Ph.D., ReAlta’s Chief Executive Officer. “For those patients that are infected, the medical community still has no effective therapy to treat ALI and the damage that results from the condition. We greatly appreciate the support from The Virginia Catalyst, as well as the leadership exhibited by the Commonwealth of Virginia to marshal the considerable resources of the life sciences community in Virginia to respond to the ongoing need for effective therapeutic options to treat COVID-19.”

The Company’s double-blind, placebo-controlled Phase 1b clinical trial evaluating RLS-0071 for the treatment of ALI due to COVID-19 pneumonia in early respiratory failure will be conducted at multiple participating clinical sites throughout North America and Europe.  More information about the trial can be found at Clinicaltrials.gov under #NCT04574869.

About ReAlta Life Sciences

ReAlta Life Sciences, Inc. is a clinical stage biotech company dedicated to harnessing the power of the immune system through its EPICC technology platform, comprised of a family of over 160 engineered peptides, to address life-threatening medical needs. The peptide family leverages one billion years of evolution that has enabled the human astrovirus to inhibit components of the innate immune system. This novel class of therapeutics exploits the virus’ dual targeting approach and enables the rebalancing of complement and inflammatory processes in the body. The company’s pipeline is led by RLS-0071, which has been granted Orphan Drug Designation by the U.S. Food and Drug Administration and European Medicines Agency for the treatment of hypoxic-ischemic encephalopathy (HIE) in neonates. The company launched in 2018, and is located in Norfolk, Virginia. For more information, please visit www.realtalifesciences.com.

About Virginia Catalyst

Virginia Biosciences Health Research Corporation (VBHRC), known as Virginia Catalyst, has a

vision of advancing life sciences throughout Virginia as a means of addressing large unmet medical needs to improve human health and to create high-paying jobs throughout the Commonwealth. Funded by the Virginia General Assembly’s General fund, the University of Virginia, Virginia Commonwealth University, Virginia Tech, Eastern Virginia Medical School, George Mason University, Old Dominion University, and William and Mary, the Virginia Catalyst has funding opportunities to support collaborative life science projects in the Commonwealth. For more information, visit www.virginiacatalyst.org.

Media Contact:

Ryo Imai / Robert Flamm, Ph.D.

Burns McClellan

212-213-0006

Rimai@burnsmc.com  / rflamm@burnsmc.com

Investor contact:

Eric Ando

Burns McClellan

eando@burnsmc.com

(212) 213-0006