Starpharma secures majority ownership of Petalion

• Starpharma increases equity interest in Petalion from 22.5% to 66%
• Petalion leverages Starpharma's DEP® platform for FAP-targeted oncology
• Medicxi remains a strategic partner and substantial shareholder

Starpharma Holdings Ltd. has increased its equity interest in Petalion Therapeutics from 22.5% to 66%, securing majority ownership, governance control, and operational leadership of Petalion's FAP-targeted oncology program. This acquisition aligns with Starpharma's DEP® strategy, integrating Petalion's FAP-targeted dendrimer-drug conjugate into its focused oncology portfolio. Starpharma will contribute up to AUD $5.0 million to Petalion, consisting of AUD $3.0 million in cash and the remainder in R&D services. Medicxi will retain a 30% interest, Board representation, and an active strategic role, ensuring continuity and external development expertise. The next phase will focus on generating data to select a lead candidate and define the optimal development and partnering pathway.

Starpharma aims to integrate Petalion's program into its oncology portfolio, focusing on lead candidate selection and defining the development and partnering pathway.