Conduit Pharmaceuticals Appoints Dr. Joanne Holland as Chief Scientific Officer

Conduit also appoints prominent intellectual property attorney Jeffrey Lindeman as a Consultant

Leadership additions underscore Conduit's commitment to strengthening and broadening its intellectual property portfolio through solid-form technology to maximize future value

SAN DIEGO and LONDON, March 19, 2024 (GLOBE NEWSWIRE) --  Conduit Pharmaceuticals Inc. (NASDAQ:CDT) ("Conduit Pharmaceuticals" or "Conduit" or the "Company") today announced the appointment of Dr. Joanne Holland as Chief Scientific Officer.

Dr. Holland brings over 20 years of experience to the CSO role at Conduit, having amassed expertise across the entire development spectrum. This includes a deep knowledge base in identifying drugs that can be applied across multiple disease states, combining research and commercial skills to advance drugs to market, and working with premier scientific thought leaders. She has a specific focus in solid-form technology and its associated intellectual property, having held leadership positions at publicly traded companies in this space, as well as consulting roles for several pharmaceutical companies on all matters relating to solid-form technology. She has successfully shepherded multiple solid-form candidates from discovery stage into the clinic, and is the author of over 50 solid-form intellectual property patents. Dr. Holland earned a PhD in chemistry from the University of Leeds, UK, which was sponsored by Pfizer, Inc., before starting her career at companies including Millennium Pharmaceuticals and Stylacats Limited.

In addition, Conduit has engaged Dr. Jeff Lindeman to consult on intellectual property strategies as part of the Company's research and development of its solid-form candidates. An international speaker, Dr. Lindeman has authored book chapters on patent strategies relating to pharmaceutical solid-state forms. Prior to opening his consulting firm Two Notch Solutions, LLC, in 2009, Dr. Lindeman founded and then successfully sold J.A. Lindeman & Co. PLLC (now Raphael Bellum PLLC) and has over 30 years of intellectual property law experience, including as an adjunct patent law professor at American University and as a United States patent examiner. His role with the Company is as a consultant, not legal counsel.

"The appointment of Jo as Chief Scientific Officer underscores Conduit's commitment to optimizing the value of our current intellectual property assets, while concurrently fostering the creation of new intellectual property," said Dr. David Tapolczay, Chief Executive Officer. "Jo and Jeff have over 20 years of experience working together, and their new leadership roles will significantly enhance our intellectual property state, strategically positioning Conduit for future out-licensing opportunities."

About Conduit Pharmaceuticals

Conduit Pharmaceuticals (NASDAQ:CDT) have developed a unique business model to bring medicines to patients. Its novel approach addresses unmet medical need and lengthens the intellectual property for its existing assets through cutting-edge solid-form technology and then commercializes these products with life science companies. Conduit is led by a highly experienced team of pharmaceutical executives, including CEO, Dr. David Tapolczay, former Chief Executive Officer of UK-based medical research charity LifeArc; and the Chair of our Board, Dr. Freda Lewis-Hall, former Chief Medical Officer of Pfizer, Inc. Our Phase II ready pipeline, which consists of a HK4 Glucokinase Activator targeting auto-immune diseases and an MPO Inhibitor which we believe has the potential to treat Idiopathic Male Infertility, has undergone 20+ Phase I trials in over 1,000 patients.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding Conduit's future results of operations and financial position, Conduit's business strategy, prospective product candidates, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated studies and business endeavours with third parties, and future results of current and anticipated product candidates, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to; the inability to maintain the listing of Conduit's securities on Nasdaq; the ability to recognize the anticipated benefits of the business combination completed in September 2023, which may be affected by, among other things, competition; the ability of the combined company to grow and manage growth economically and hire and retain key employees; the risks that Conduit's product candidates in development fail clinical trials or are not approved by the U.S. Food and Drug Administration or other applicable authorities on a timely basis or at all; changes in applicable laws or regulations; the possibility that Conduit may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties to be identified in the proxy statement/prospectus (as amended and supplemented) relating to the business combination completed in September 2023, including those under "Risk Factors" therein, and in other filings made by Conduit with the U.S. Securities and Exchange Commission. Moreover, Conduit operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Conduit's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Conduit assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Conduit gives no assurance that it will achieve its expectations.

Media:

Sean Leous

ICR Westwicke

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+1.646.866.4012

Investors:

Bill Begien

Conduit Pharmaceuticals Inc.

[email protected]