The board of directors of the CANbridge Pharmaceuticals Inc. informed the shareholders and potential investors of the Company that the Group has published the attached press release, which announced that it has exercised its option to secure the exclusive global rights to develop, manufacture and commercialize a novel second-generation gene therapy to treat spinal muscular atrophy (SMA) from UMass Chan Medical School. The Company further announced that the Group has completed the full technology transfer of gene therapy products being developed for the treatment of Fabry and Pompe diseases from LogicBio® Therapeutics, Inc. ("LogicBio"). As part of such technology transfer, the Group has an exclusive worldwide license to the products in the Fabry and Pompe gene therapy programs that use the adeno-associated virus (AAV) sL65 liver targeting capsid.

The Group has also obtained non- exclusive worldwide rights to the LogicBio proprietary manufacturing process for the Fabry and Pompe gene therapies. As part of the Group's agreement with LogicBio, the option rights to sL65- based therapies for two additional indications, as well as to LB-001, an investigational treatment for methylmalonic acidemia, in Greater China, which were granted to the Group under the original strategic collaboration and licensing agreement between the Group and LogicBio, have been removed. The Group cannot guarantee that the aforesaid second-generation gene therapy to treat SMA and gene therapy products being developed for the treatment of Fabry and Pompe diseases will ultimately be successfully developed and marketed.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.