iPPS Phase 2 Biomarker Results Published in Leading Journal

• Independent scientific validation: Paradigm's Phase 2 iPPS biomarker study published in leading rheumatology journal
• Evidence of biological activity in osteoarthritic joint: Favorable changes in biomarkers associated with cartilage, inflammation, and pain
• Strengthens scientific foundation for Phase 3 program: Peer-reviewed findings provide mechanistic support for ongoing pivotal trial

Paradigm Biopharmaceuticals Ltd. (ASX: PAR) announced that its manuscript titled 'Effects of Pentosan Polysulfate Sodium on Synovial Fluid Biomarkers in Moderate to Severe Knee Osteoarthritis: an Exploratory, Phase 2, Randomized, Double-Blind, Placebo-Controlled Trial' has been published online in Arthritis Research & Therapy, a respected international peer-reviewed journal specializing in inflammatory and degenerative joint diseases. The publication highlights the success of the PARA_OA_008 Phase 2 trial methodology, which included a robust design, repeated ultrasound-guided synovial fluid sampling, coordinated multi-site clinical operations, and in-depth evaluation of relevant biomarkers. The study demonstrated favorable changes in synovial fluid biomarkers associated with cartilage degradation, inflammation, and pain in patients with moderate to severe knee osteoarthritis treated with injectable pentosan polysulfate sodium (iPPS). Several of these effects persisted months after completion of dosing, suggesting durable biological effects. While the study was not designed to support drug registration, the biomarker findings provide important mechanistic support for Paradigm's ongoing pivotal Phase 3 clinical trial (PARA_OA_012) in knee osteoarthritis, strengthening the scientific foundation for the program.