LOBE SCIENCES LTD - LOBEF STOCK NEWS

Lobe Sciences and Alera Pharma announce the issuance of U.S. Patent number 12,102,616 for Conjugated Psilocin™. The patent, titled 'Psilocin Mucate', covers compositions of matter, methods of use, and production for psilocin mucate. It will be valid until July 2043, subject to maintenance fees. Lobe Sciences will assign the intellectual property rights to Alera Pharma, its newly established wholly-owned subsidiary.

Conjugated Psilocin™ is a novel, oral, stable analogue of psilocin, addressing the instability issues of psilocin and poor bioavailability of psilocybin. The companies aim to develop it as a prescription medication for various neurological disorders, with a primary focus on Chronic Cluster Headache.

Lobe Sciences (CSE: LOBE, OTCQB: LOBEF) has announced the creation of a wholly owned U.S. subsidiary, Alera Pharma, Inc. This new entity will focus on neurology and be assigned the intellectual property rights for Lobe's lead compound, Psilocin Mucate. Key appointments include:

- Rick Goulburn as CEO of Alera Pharma
- Dr. Frederick D. Sancilio as Chairman of Alera Pharma's Board
- Dr. Harry Jacobson, Wesley Ramjeet, and Rick Goulburn as Board Members
- Ilan Hayman joining Alera's executive management team

Lobe Sciences Australia Pty will become a subsidiary of Alera Pharma. The company also received a Notice of Allowance from the US PTO for its Patent Application Serial No. 18/411,576. This restructuring aims to simplify Lobe Sciences' operations into three entities: Lobe Sciences , Alera Pharma, and Altemia,

Lobe Sciences (CSE: LOBE, OTCQB: LOBEF), a biopharmaceutical company, has announced significant changes to its leadership structure. At the company's annual general meeting, shareholders elected a new Board of Directors comprising Dr. Frederick D. Sancilio, Dr. Harry Jacobson, and Mr. Wesley Ramjeet. Following this, the Board appointed Dr. Sancilio as Chairman and CEO, replacing the departing CEO Philip Young and COO Baxter Phillips III.

The Board also expanded with the addition of Mr. Rick Goulburn as its fourth member, expected to take on a leadership role in pursuing the company's strategic goals. Additionally, Mr. Jeremy Wright joined as a Board and Executive Advisor to provide guidance on strategic and administrative matters. These changes mark a significant shift in Lobe Sciences' leadership as it continues its focus on developing medicines for diseases with unmet medical needs.

Lobe Sciences, a biopharmaceutical company (OTCQB: LOBEF), announced its strategic efforts to enhance shareholder value, including up-listing to the Australian Securities Exchange or the New York Stock Exchange.

The company secured a $500,000 convertible note to improve its balance sheet, reducing short-term debt and preparing for long-term funding. The note is provided by Clearway Global, , and Quality Chemical Laboratories, Inc.

Lobe also plans to out-license its proprietary assets, especially L-130 and Altemia, and aims to communicate its significant scientific achievements through a series of market updates. The Annual General Meeting is scheduled for 22 July 2024.

Lobe Sciences (OTCQB: LOBEF, CSE: LOBE), a biopharmaceutical firm specializing in transformative medicines for rare diseases, has appointed Wesley Ramjeet to its Board of Directors. Ramjeet, CEO and Founder of PPMT Strategic Group, brings over two decades of strategic financial expertise, with notable achievements in acquisitions, IPOs, and growth initiatives across various industries. His leadership has driven significant growth and successful exits, including a 30x increase for MD Logic Wellness and a notable turnaround for a medical device company. CEO Philip J Young highlighted Ramjeet's strategic insights as key for Lobe's mission to advance innovative treatments for neurological disorders.

Ramjeet has also made significant contributions to the nonprofit sector, including founding Lions Unleashed and serving on the Board of Trustees for the Universal Hip Hop Museum. He is a CPA and holds a degree in Accounting from St. John’s University.

Lobe Sciences announced that Frederick D. Sancilio Ph.D. is joining its Board of Directors. Dr. Sancilio brings over 40 years of experience in pharmaceutical sciences, founding multiple successful companies, including aaiPharma. His expertise is expected to boost Lobe's efforts in developing treatments for rare diseases and mental health conditions. The company aims to leverage his experience to advance its L-130 oral psilocin program and expand the reach of Altemia, a medical food for Sickle Cell Disease. Dr. Sancilio's previous roles include significant contributions to drug development and FDA approvals.

Lobe Sciences announced that Dr. Harry Jacobson, a former director at Merck and Vanderbilt Vice-Chancellor, will join its Board of Directors. Dr. Jacobson boasts over three decades of experience in healthcare, biotechnology, and medical innovation. His background includes roles such as Vice Chancellor for Health Affairs at Vanderbilt University Medical Center, where he expanded the budget from $750M to $2.5B. He has also founded and co-founded multiple companies, including Renal Care Group and Contact Software, and has served on the boards of Merck, Kinetic Concepts, and Renal Care Group. Dr. Jacobson’s addition is expected to drive Lobe’s development and commercialization of treatments for Chronic Cluster Headaches and Sickle Cell Disease.

Lobe Sciences (OTCQB: LOBEF) and Clearway Global have announced a change of control, with Clearway gaining voting control of Lobe.

This follows Lobe's acquisition of Altemia & Company, resulting in Clearway owning 52.69% of Lobe's shares. The companies aim to enhance growth strategies, including appointing new board members, securing funding, and addressing accounts payable.

Lobe has issued 16,424,220 shares to Clearway under a consulting agreement. The focus will be on Lobe’s L-130, an oral Psilocin-based drug, with plans for an investor communications program to share recent trial data and unlock shareholder value. The Annual General Meeting is scheduled for July 22, 2024.

Lobe Sciences Ltd. (LOBEF) achieved significant milestones in 2023, including the acquisition and commercial launch of Altemia for Sickle Cell Disease, recording $1.1M CAD in sales, and completing the first-in-man clinical study on L-130, demonstrating improved pharmacokinetics and stability. The company also transitioned to focus on treating Orphan Diseases and appointed a new COO and President for Altemia. Management plans to build on this momentum in 2024 and will be meeting with prospective investors and corporate partners during the 42nd Annual J.P. Morgan Healthcare Conference.