• Completed U.S. Military platelet program Phase II with positive outcomes
• Accelerating commercial engagement across civilian and military blood networks in the U.S.
• Commenced work program with global animal health leader IMV in France

Vitrafy Life Sciences Limited (ASX: VFY) reported its Q3 FY26 Quarterly Activities and Appendix 4C, highlighting several key developments. The company completed Phase II of its platelet cryopreservation testing program with the U.S. Army Institute of Surgical Research, with positive outcomes consistent with Phase I results. This is expected to reshape patient care by enabling consistent platelet availability. Vitrafy is also experiencing significant commercial engagement from civilian blood collection organizations in the U.S. due to the ongoing Army validation. In the animal health segment, Vitrafy progressed its partnership with IMV Technologies, deploying personnel, hardware, and software to support the commencement of the bovine semen testing program. Separately, Vitrafy continued its work with Huon and another domestic aquaculture operator, with Huon's February fertilization program demonstrating comparable outcomes to fresh. Vitrafy ended the quarter with $18.5 million in cash and term deposits, with a net operating cash outflow of $4.4 million. The company expects to increase quarterly cash costs in the second half of 2026 to support regulatory testing, commercial team expansion in the U.S., and an initial fleet of devices to meet anticipated demand.

Vitrafy expects quarterly cash costs to increase in the second half of calendar 2026, coinciding with the company's investment in regulatory testing for medical device registration, expansion of the commercial team in the U.S., and investment in an initial fleet of devices to meet anticipated demand. This will be offset by cash inflows associated with the Industry Growth Program grant, interest, and increasing service revenues from the IMV contract.

Vitrafy is focused on converting the opportunities that have emerged from the value created through the USAISR platelet program, with a particular emphasis on capitalizing on structural limitations and emerging opportunities across both platelets and red blood cells. Momentum in the blood market, across both civilian and military segments, combined with material progress in Animal Health through IMV Technologies and continued pipeline development in CGT, reinforces that the company has multiple pathways to building revenue and driving adoption of the Vitrafy ecosystem.