France - OSE Immunotherapeutics SA (ISIN: FR0012127173; Mnemo: OSE), an integrated biotech company focused on developing firstin-class assets targeting cancer and inflammatory diseases, today provides updates on key milestones achieved during H1 2022 and reports its consolidated half-year financial results as of June 30, 2022.

Alexis Vandier, Chief Executive Officer of OSE Immunotherapeutics, comments: 'It is a great honor to have joined OSE Immunotherapeutics as Chief Executive Officer. OSE is at the forefront of the science needed to develop first-in-class assets to break the efficacy ceiling of immunotherapeutics targeting immuno-oncology (IO) and immuno-inflammation (I&I) indications. In the first half of 2022, we have continued to make important progress, including with our most advanced product Tedopi, which had demonstrated positive results in a Phase 3 trial in Non-Small Cell Lung Cancer (NSCLC) patients in secondary resistance after checkpoint inhibitor failure. We intend to further leverage this lead asset Tedopi in NSCLC and in other cancer indications explored in partnership with clinical oncology groups, both as a monotherapy and in combination.

We continue to focus our research efforts on developing next-generation first-in-class therapies from our unique proprietary drug discovery platforms to generate significant value: the BiCKI platform focused on immunooncology, and its most advanced BiCKI candidate targeting anti-PD1xIL-7 and the Myeloid platform, focused on optimizing the therapeutic potential of myeloid cells in IO and I&I where our most advanced preclinical product, OSE-230, has the potential to resolve chronic inflammation.

We have also seen important progress in the first half of 2022 with our partnered products. This has resulted in OSE Immunotherapeutics receiving a EUR10 million milestone payment from Boehringer Ingelheim for the initiation of the Phase 1 clinical expansion trial of BI 765063 in advanced hepatocellular carcinoma and head and neck cancer patients and a further EUR5 million milestone payment from Veloxis Pharmaceuticals, Inc., for FR104, a CD28 antagonist, following US Investigational New Drug (IND) acceptance for kidney transplant immunosuppression.

I am very confident that the globally advanced clinical pipeline that we have today addressing high medical unmet needs, as well as our pioneering platforms, will allow us to deliver on our ambitious goals, and ultimately to improve the lives of patients with cancer and inflammatory diseases.'

Contact:

Thomas Guillot

Tel: +33 607 380 431

Email: thomas.guillot@ose-immuno.com

Forward-looking statements

This press release contains express or implied information and statements that might be deemed forward-looking information and statements in respect of OSE Immunotherapeutics. They do not constitute historical facts. These information and statements include financial projections that are based upon certain assumptions and assessments made by OSE Immunotherapeutics' management in light of its experience and its perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. These forward-looking statements include statements typically using conditional and containing verbs such as 'expect', 'anticipate', 'believe', 'target', 'plan', or 'estimate', their declensions and conjugations and words of similar import. Although the OSE Immunotherapeutics management believes that the forward-looking statements and information are reasonable, the OSE Immunotherapeutics' shareholders and other investors are cautioned that the completion of such expectations is by nature subject to various risks, known or not, and uncertainties which are difficult to predict and generally beyond the control of OSE Immunotherapeutics.

These risks could cause actual results and developments to differ materially from those expressed in or implied or projected by the forwardlooking statements. These risks include those discussed or identified in the public filings made by OSE Immunotherapeutics with the AMF. Such forward-looking statements are not guarantees of future performance. This press release includes only summary information and should be read with the OSE Immunotherapeutics Universal Registration Document filed with the AMF on 15 April 2022, including the annual financial report for the fiscal year 2021, available on the OSE Immunotherapeutics' website. Other than as required by applicable law, OSE Immunotherapeutics issues this press release at the date hereof and does not undertake any obligation to update or revise the forwardlooking information or statements.

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