Board of Directors Approves Half-Year Financial Report as

PHILOGEN S.p.A.

BOARD OF DIRECTORS APPROVES HALF-YEAR FINANCIAL REPORT AS OF JUNE 30, 2022 (Courtesy English Translation)

• Revenues from contracts with customers amounting to €18,085 thousand (€1,548 thousand in 2021)
• Positive EBITDA of €9,049 thousand (negative €8,107 thousand in 2021)
• Positive EBIT of €7,800 thousand (negative €8,860 thousand in 2021)
• Positive net income of €1,980 thousand (negative net income of €8,653 thousand as of June 30, 2021)
• Net financial position positive €82,114 thousand (positive €85,184 thousand as of December 31, 2021)

AT THE SAME MEETING THE BOARD OF DIRECTORS, AMONG OTHER THINGS:

• Approved the Sustainability Brochure referring to the year 2021

Siena (Italy), Sept. 28, 2022-The Board of Directors of Philogen S.p.A. (the “Company” or “Philogen“) and, together with its Swiss subsidiary Philochem, (the “Group“), which met today under the chairmanship of Dr. Duccio Neri, approved the condensed consolidated half-yearly financial statements as of June 30, 2022, prepared in accordance with IAS/IFRS.

Dario Neri, CEO of Philogen, commented on the results for the year and the evolution of the business:

“We are pleased with the Group’s performance in the first half of this year. The Company is going through a very important period as we are approaching the readout of our European Phase III study of Nidlegy™ in melanoma which we expect to take place in 2023. We are confident that the new GMP facility in Rosia can also be authorized in 2023.

Having completed patient recruitment in the Phase III study of Nidlegy™, we have achieved the first target announced at the time of the IPO in March 2021. Patient enrollment in Fibromun‘s Phase III sarcoma study is proceeding on schedule. In addition, emerging data from the non-melanoma skin cancer and glioblastoma studies are very encouraging.

Through its subsidiary Philochem, the Group has also consolidated the OncoFAP platform, which opens up new opportunities…