_70A5394v1-2

SolasCure announces final closing of GBP 10.9m (c. USD 13.3m) Series B fundraise to advance wound care innovation

Funding will support the development of Aurase Wound Gel and progress toward
further Phase II clinical trials of innovative wound debriding enzyme

Cambridge, UK 27 March 2023 – SOLASCURE Ltd (SolasCure), a biotechnology company
developing a hydrogel containing a recombinant enzyme derived from maggots which aims to
accelerate wound debridement, has announced the completion of its GBP 10.9m (c. USD 13.3m)
Series B investment round. The funding round was led by Seneca Partners and also included industry
veterans, institutional venture and strategic investors, including BRAIN Biotech AG, EVA Pharma,
Jonathan Milner, and Wealth Club.

SolasCure’s first investigational product, Aurase Wound Gel, a hydrogel containing an enzyme cloned
from medical maggots which aims to accelerate wound debridement, is due to enter further Phase II
efficacy-supporting trials. The next phase of trials will include a larger and more diverse patient group
compared to the Phase IIa safety study. The Company is hopeful that the results will continue to
demonstrate how its innovative technology supports healthcare professionals treating patients with
chronic wounds.

The pre-clinical trial results of SolasCure’s Aurase Wound Gel, published in the International Wound
Journal, showed preliminary evidence that supports its new enzymatic debridement product for use in
chronic wounds. The enzyme is shown to have a good safety profile, both locally and systemically, which opens up a large therapeutic window. This has permitted SolasCure under regulatory review to test the enzyme on real patients with ulcers. SolasCure recently completed its CLEANVLU proof-of-concept first-in-man Phase IIa safety study examining the use of Aurase Wound Gel in chronic venous leg ulcer subjects. Results are now being collated and analyzed, and more information will be available in the near future.

Dr Sam Bakri, Founder & CEO, SolasCure, said: “We would like to thank investors in our Series B
round for continuing to support us as we progress our clinical development programme and focus on
developing the efficacy of Aurase Wound Gel. We are excited to be working with such an experienced
team, whose specialist knowledge is greatly valued in our mission to support healthcare professionals
with wound care products that significantly improve outcomes for patients with chronic wounds.”

Matthew Currie, Investment Director, Seneca Partners, added: “We are delighted to continue to
support SolasCure through its latest funding round, following the impressive progress and positive
results to date shown by the Aurase Wound Gel. We recognise great potential in the Company and
support its mission to develop a potentially disruptive medical product that could displace its main
competitor and achieve global commercial market success.”

SolasCure was founded in 2017 as a spin-off from BRAIN Biotech AG, a leading German biotech
company focused on harnessing biological diversity to develop innovative solutions.
Adriaan Moelker, CEO, BRAIN Biotech, commented: “We have been very pleased with the
progress made by SolasCure during the clinical trial towards bringing this truly meaningful solution to
patients. Our commitment to the Company is unchanged and we were happy to participate in the
latest funding round.”


For more information about SolasCure, please visit: https://solascure.com/