Telo Genomics Corp. announced that the initial clinical validation stage of its ongoing clinical study for smoldering multiple myeloma ("SMM"), in collaboration with the Mayo Clinic, has completed review and analysis of its first cohort, consisting of 187 patients and has exceeded its targeted endpoints. In July 2022, the Company announced that it had completed processing of the patient samples related to the SMM study and submitted the laboratory results to the Mayo Clinic for review and analysis.

TELO intends to submit the final findings of the study for presentation at the American Society of Hematology (ASH) annual meeting scheduled for December 2022. The Company's TeloView®-based test for SMM has the potential to identify high-risk SMM patients who will benefit from earlier treatment intervention; significantly, the test also has the potential to predict the larger subset of low-risk patients who have a more stable form of the disease and do not require treatment. Low-risk SMM patients may be tested up to every three months on an ongoing basis to monitor their status without the need for treatment intervention.

TELO, in consultation with industry leaders, estimates that there are over 200,000 patients in the USA that may benefit from its TeloView® test for SMM, with a potential total addressable market of over 500,000 tests per year. Based on the Company's interim results and as part of its commercialization plan to introduce TeloView® as a prognostic test across the spectrum of multiple myeloma ("MM") disease; TELO is also pleased to announce that it will be forming a MM clinical advisory board. The board will be made up of leading clinicians in the field with the purpose of guiding the Company's product launch and clinical adoption efforts for the TeloView® test for MM and its precursors.