France - OSE Immunotherapeutics (ISIN: FR0012127173; Mnemo: OSE) today reported its consolidated annual financial results for 2020 and provided an update on key achievements, as well as the Company's outlook for 2021 for its immunotherapies in T-cell vaccines, immuno-oncology and auto-immunity and inflammation.

Alexis Peyroles, CEO of OSE Immunotherapeutics commented: '2020 was a year of strong achievements and transformation for OSE, creating a clear momentum for the Company's next phase of growth and reinforcing its status as a key player in immunotherapy. We strengthened and broadened our clinical portfolio with numerous important indications and developed a multi-variant COVID-19 vaccine, parallel to reinforcing our financial position.

Our neoepitope approach with Tedopi was validated in the Step-1 of Phase 3 study in non-small cell lung cancer patients after failure of checkpoint inhibitor treatments. This confirms the clinical benefit Tedopi can provide to patients who need new therapeutic options for this indication. At the same time, we expand Tedopi's clinical development to ovarian cancer alone and in combination with a checkpoint inhibitor.

Our clinical portfolio made great progress with the launch of clinical trials for three products: a Phase 2 with IL-7 receptor antagonist OSE-127/S95011 in ulcerative colitis, a Phase 1/2 with CD28 antagonist FR104 in renal transplant and a Phase 2 to evaluate Tedopi alone or combined with Keytruda as a maintenance treatment in ovarian cancer. An upcoming Phase 1/2 with CoVepiT, our COVID-19 vaccine, is currently subject to regulatory authorizations. Our preclinical pipeline has also developed and includes new highly innovative programs such as CLEC-1 and BiCKI-IL-7 in immuno-oncology and OSE-230 in the resolution of inflammation.

In parallel, we strengthened our cash position through an equity raise, non-dilutive loans and a COVID-19 specific funding, extending our cash runway to Q2 2022. This strong financial position allows us to further enhance our differentiated and diversified pipeline in immuno-oncology and autoimmune diseases as well as the clinical development of our CoVepiT vaccine.'

ABOUT OSE Immunotherapeutics

OSE Immunotherapeutics is an integrated biotechnology company focused on developing and partnering therapies to control the immune system for immuno-oncology and autoimmune diseases. The company's immunology research and development platform is focused on three areas: T-cell-based vaccination, Immuno-Oncology (focus on myeloid targets), Auto-immunity & Inflammation. Its balanced first-in-class clinical and preclinical portfolio has a diversified risk profile:

Contact:

Sylvie Detry

Tel: +33 153 198 757

Email: Sylvie.detry@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 forward-looking 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 2020, including the annual financial report for the fiscal year 2019, 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 forward-looking information or statements.

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