Rhelion Life Sciences Reports First Quarter 2027 Results

Toronto, Ontario–(Newsfile Corp. – August 31, 2026) – Rhelion Life Sciences Corp. (CSE: RHEL) (FSE: 4YX0) (OTCQB: TRUFF) (“Rhelion” or the “Company”), an Ontario-based organization advancing innovation and research within the legal psychedelic sector, is pleased to report its financial and operational results for the three months ended June 30, 2026 (“Q1 2027”), capping a transitional quarter which culminated in the acquisition of Filament Health Corp. (“Filament”). All figures are reported in Canadian dollars. The full set of the Company’s unaudited condensed interim consolidated financial statements and accompanying management’s discussions and analysis can be accessed by visiting the Company’s website at www.Rhelion.com and its profile page on SEDAR+ at www.sedarplus.ca.

Q1 2027 Marks the Beginning of Rhelion’s New Life Sciences Platform

The first quarter of Fiscal 2027 marked a significant transition for Rhelion following the completion of its acquisition of Filament on April 29, 2026. The acquisition added pharmaceutical drug development, GMP manufacturing, regulatory, clinical supply and intellectual property capabilities to the Company and shifted Rhelion’s strategic focus toward the research and development (“R&D”) of naturally derived psychedelic medicines.

Through Filament, Rhelion is advancing PEX010, its patented, standardized, naturally derived psilocybin drug candidate, while continuing to support academic and clinical research programs around the world.

The Company intends to leverage Filament’s pharmaceutical development, manufacturing, regulatory and intellectual property capabilities to advance its drug development platform, expand regulated clinical and research supply opportunities and evaluate additional naturally derived drug candidates.

Rhelion believes the combination of Filament’s scientific and pharmaceutical capabilities with the Company’s existing resources provides a strong foundation from which to build a focused and differentiated life sciences platform.

Todd Shapiro, Chief Executive Officer and Director of Rhelion, commented:

“The first quarter of Fiscal 2027 represents an important inflection point for Rhelion as we begin executing on the strategy created through our acquisition of Filament. The combination brings together pharmaceutical R&D, GMP manufacturing, regulatory capabilities, intellectual property and global clinical research supply under one platform. We believe this gives Rhelion a strong foundation to pursue opportunities in naturally derived psychedelic medicines and build a differentiated life sciences company.

At the centre of this platform is PEX010, Filament’s patented, standardized and GMP-manufactured botanical psilocybin drug candidate. We are encouraged by the continued interest from academic and clinical researchers and by the growing number of institutions evaluating PEX010 across different research settings and therapeutic areas.

We believe the ability to provide researchers with a standardized, pharmaceutical-grade botanical psilocybin drug candidate represents an important competitive advantage as psychedelic drug development continues to evolve. PEX010’s existing body of clinical research and safety data also provides Rhelion with a strong foundation as we evaluate opportunities to advance our own clinical development programs utilizing the potential unique advantages of our patented botanical psilocybin extract.”

Expanding the Naturally Derived Drug Development Pipeline

Beyond psilocybin, Rhelion is evaluating opportunities to apply Filament’s proprietary botanical drug development platform to additional naturally derived compounds.

One area of increasing scientific interest is ibogaine and iboga-derived drug development.

Filament has previously developed IBEX011, a standardized total-alkaloid extract derived from Tabernanthe iboga using the Company’s proprietary extraction, purification and stabilization methods.

In May 2023, Filament announced the completion of what it described as the first Nagoya Protocol-compliant import of Tabernanthe iboga root from Gabon to its Metro Vancouver research and development facility.

The botanical material was imported for analysis and development into a standardized total-alkaloid iboga extract under a benefit-sharing framework intended to support the responsible and equitable use of botanical resources originating in Gabon.

In 2024, Filament announced IBEX011 as a Nagoya Protocol-compliant GMP extract of Tabernanthe iboga. IBEX011 was developed using Filament’s proprietary botanical extraction, purification and stabilization platform, which has also been utilized in the development and manufacture of PEX010.

Shapiro continued:

“There is growing scientific and clinical interest in ibogaine, yet the field continues to face an important challenge: access to reliable, standardized, pharmaceutical-quality material suitable for rigorous research. This is precisely the type of problem Filament has spent years working to solve.

Our experience developing PEX010 and supplying naturally derived psilocybin products to more than 80 studies worldwide provides a model for how we believe standardized botanical drug candidates can be developed and supplied for regulated research. We believe IBEX011 represents another potentially important application of that platform, and we expect to provide a further update on the program in the near future.”

Building for the Next Stage of Growth

Sarit Hashkes, President of Filament Health Corp., commented:

“We are focused on strengthening the scientific and pharmaceutical capabilities that underpin Rhelion’s new life sciences platform. Filament brings years of experience across pharmaceutical manufacturing, regulatory activities, intellectual property and clinical research supply, and we intend to continue developing these capabilities as our programs expand.

At the same time, we are taking a disciplined approach to legacy operations and capital allocation, allowing management to focus resources on the areas of the business that we believe offer the greatest potential for long-term value creation.

As we look ahead, our focus is on execution. We intend to advance PEX010 and its clinical and research supply programs, deepen our relationships with academic and clinical institutions, and pursue additional opportunities that can leverage our pharmaceutical capabilities and intellectual property. We believe Rhelion is well positioned to participate in the continued evolution of psychedelic medicine, and we look forward to demonstrating the value of the platform we have built.”

Key Financial Highlights for Q1 2027 vs Q1 2026:

• Cash and Cash Equivalents: $2.598M as at June 30, 2026.
• Short-Term Investments: $5.017M as at June 30, 2026, consisting of one-year GICs.
• Revenue: $0.186M in Q1 2027 compared with $0.553M in Q1 2026.
• Gross Profit: $0.170M in Q1 2027 compared with $0.151M in Q1 2026.
• Net Loss: $1.889M in Q1 2027 compared with $1.046M in Q1 2026.
• Adjusted EBITDA Loss ^[1]: $1.0631M in Q1 2027 compared with $0.679M in Q1 2026.
• Total Assets: $21.861M as at June 30, 2026 compared with $20.141 in Q1 2026

As at June 30, 2026, the Company had $2.598 million of cash and cash equivalents and $5.017 million of short-term investments consisting of one-year GICs. During Q1 2027, approximately $5.0 million of cash was transferred into GICs as part of the Company’s short-term investment and cash management strategy.

All figures are reported in Canadian dollars. The full set of the Company’s unaudited condensed interim consolidated financial statements and accompanying management’s discussions and analysis can be accessed by visiting the Company’s website at www.Rhelion.com and its profile page on SEDAR+ at www.sedarplus.ca.

About Rhelion Life Sciences:

Rhelion Life Sciences is a science and research led company advancing the natural psychedelic drug discovery and development sector. Through its wholly owned subsidiary Filament Health Corp., the Company is developing naturally derived psilocybin drug candidates, including its patented PEX010, and supporting clinical research and compassionate use programs with leading institutions around the world.

Cautionary Statement Regarding Forward-Looking Information

This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws (collectively, “forward-looking information”). Forward-looking information is generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “potential,” “may,” “will,” “could,” “would,” “should,” “continue,” “advance,” “develop,” “pursue,” “evaluate,” “expand,” “position,” “opportunity,” “strategy,” “focus,” and similar expressions, although not all forward-looking information contains these identifying words.

Forward-looking information in this news release includes, but is not limited to, statements regarding: the Company’s strategy and strategic focus following the acquisition of Filament Health Corp.; the development and expansion of Rhelion’s life sciences and naturally derived psychedelic drug development platform; the advancement, development, potential applications and future clinical or research use of PEX010; the Company’s plans to evaluate and potentially pursue its own clinical development programs involving PEX010; continued or increased academic, clinical and institutional interest in PEX010; the expansion of clinical and research supply programs and relationships with academic and clinical institutions; the potential advantages, applications and opportunities associated with naturally derived and botanical drug candidates; the Company’s ability to leverage Filament’s pharmaceutical R&D, GMP manufacturing, regulatory, intellectual property and clinical supply capabilities; the development, advancement and potential of IBEX011 and other iboga- or ibogaine-related drug candidates; the Company’s intention to provide future updates regarding IBEX011; the potential application of Filament’s extraction, purification, stabilization and manufacturing capabilities to additional naturally derived compounds; the Company’s ability to pursue additional drug development, licensing, supply, partnership or other commercial opportunities; the continued development and strengthening of the Company’s pharmaceutical, manufacturing, regulatory and intellectual property capabilities; the Company’s approach to capital allocation and legacy operations; the anticipated benefits of the Filament acquisition and integration; the Company’s ability to focus its financial and operational resources on its life sciences strategy; and the Company’s expectations regarding its future growth, development, operations and long-term value creation.

Forward-looking information is based on management’s current expectations, estimates, projections, assumptions and beliefs as of the date of this news release. Such assumptions include, among other things, assumptions regarding the Company’s ability to successfully integrate and utilize Filament’s assets and capabilities; the continued availability of sufficient capital and other resources to pursue the Company’s business objectives; the ability to maintain applicable licences, permits and regulatory authorizations; the ability to manufacture and supply drug candidates in accordance with applicable regulatory and quality standards; continued interest from researchers, institutions and potential partners in the Company’s drug candidates and capabilities; the ability to protect and maintain the Company’s intellectual property; the availability of botanical starting materials and other inputs; the ability to advance research and development activities in accordance with anticipated timelines and budgets; and the continued development of regulatory frameworks applicable to psychedelic medicines and naturally derived pharmaceutical drug candidates.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, achievements or developments to differ materially from those expressed or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: risks associated with pharmaceutical and psychedelic drug research and development; the early-stage nature of certain of the Company’s drug development programs; the possibility that preclinical or clinical results may not support further development or regulatory approval; the risk that regulatory authorities may require additional studies, data or manufacturing changes; delays or failures in obtaining or maintaining regulatory approvals, licences or authorizations; risks associated with clinical trials and research programs conducted by the Company or third parties; the Company’s dependence on third-party researchers, institutions, suppliers and collaborators; manufacturing, quality control, scale-up and supply-chain risks; risks relating to the sourcing and availability of botanical materials, including Tabernanthe iboga; risks associated with compliance with the Nagoya Protocol and applicable access and benefit-sharing requirements; intellectual property risks, including challenges to the validity, enforceability or scope of patents and other proprietary rights; competition from other pharmaceutical, biotechnology and psychedelic medicine companies; changes in laws, regulations or regulatory policies affecting psychedelic substances or pharmaceutical development; integration risks associated with the acquisition of Filament; the Company’s ability to successfully rationalize or exit legacy operations; the Company’s ability to effectively allocate capital and manage operating expenses; the availability and cost of additional financing if required; general economic, capital market and geopolitical conditions; and the other risks and uncertainties described in the Company’s continuous disclosure documents filed under its profile on SEDAR+.

There can be no assurance that the plans, intentions or expectations upon which forward-looking information is based will occur. Readers are cautioned not to place undue reliance on forward-looking information. Actual results and future events could differ materially from those anticipated in such information. The forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.

The forward-looking information contained in this news release is made as of the date hereof. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

^[1] Throughout this news release, references are made to certain financial measures that are not standardized financial measures under IFRS^® Accounting Standards, including EBITDA and Adjusted EBITDA. These measures do not have standardized meanings prescribed by IFRS^® Accounting Standards and may not be comparable to similar measures presented by other issuers. Management uses these measures as supplemental indicators of operating performance, and they should not be considered in isolation from, or as substitutes for, financial measures prepared in accordance with IFRS^® Accounting Standards.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312148