Relief Therapeutics Shareholders Approve Business Combination with NeuroX

• Shareholders approve all EGM proposals related to the combination with NeuroX
• Business combination expected to close in December 2025
• Relief to be renamed MindMaze Therapeutics Holding SA upon closing
• New board and executive committee members announced
• Companies to host joint press conference on November 25, 2025

GENEVA (Nov. 14, 2025) – RELIEF THERAPEUTICS Holding SA (SIX: RLF, OTCQB: RLFTF, RLFTY) (Relief or the Company), a biopharmaceutical company committed to delivering innovative treatment options for select specialty, unmet and rare diseases, announced that shareholders approved by a large majority all resolutions submitted to its extraordinary general meeting (EGM) held earlier today in Geneva, Switzerland. The approvals authorize the business combination between Relief and NeuroX Group SA (NeuroX) to create a publicly listed, digital neurotherapeutics company combining NeuroX’s brain health platform with Relief’s specialty biopharmaceutical portfolio.

Shareholders approved an ordinary capital increase through the issuance of 140 million new ordinary shares, to be paid in by contribution in kind of NeuroX shares, together with amendments to the capital band and conditional capital. The EGM also approved renaming the Company to MindMaze Therapeutics Holding SA upon completion of the business combination and elected Walid Hanna, Olaf Blanke, Michael Stuenkel, and Martin Reiss to the board of directors, joining Gregory Van Beek upon closing. The remaining incumbent directors will step down at that time. Other approved resolutions included the election of the nomination and compensation committee and minor amendments to the Company’s articles of association.

The business combination is expected to close in December 2025, subject to remaining closing conditions, including the admission of the newly issued shares to trading on the SIX Swiss Exchange.

Upon completion of the business combination, Alexandre Capet is expected to serve as chief executive officer and Frédéric Condolo as chief technology officer of the combined company. Both are part of the current leadership of NeuroX and joined MindMaze in 2023. Mr. Capet has more than 25 years of experience in the life sciences sector, specializing in strategy, business development, and operations. Before joining MindMaze, he was global vice president of the Digital Business Unit at Bayer, and previously deputy CEO of Voluntis, a digital therapeutics company, following senior leadership roles at Sanofi. Mr. Condolo leads technology and artificial intelligence development and has more than 30 years of experience building and managing high-performing technical organizations. Before joining MindMaze, he was director of Valiantys Switzerland, an AI-powered digital transformation firm, and technical director at Ubisoft.

Press Conference – Relief and NeuroX will host a joint press conference on Tuesday, November 25, 2025, at 3:00 p.m. CET. An accompanying presentation with additional details on the combined company’s strategic outlook will be published on Relief’s website on the same day. The conference can be accessed via the following link:

https://mindmaze.zoom.us/j/81345965910
Passcode: 374338

Participants joining by phone may use Webinar ID 813 4596 5910 and can find international dial-in numbers at  https://mindmaze.zoom.us/u/kcYGXs92CP

ABOUT RELIEF
Relief is a commercial-stage biopharmaceutical company dedicated to advancing treatment paradigms and improving the lives of patients with rare and debilitating diseases. With core expertise in drug delivery systems and drug repurposing, Relief’s clinical pipeline includes innovative treatments designed to address critical unmet medical needs in rare dermatological, metabolic and respiratory conditions. The Company has also successfully brought several approved products to market through licensing and distribution partnerships. Headquartered in Geneva, Relief is listed on the SIX Swiss Exchange under the symbol RLF and quoted in the U.S. on OTCQB under the symbols RLFTF and RLFTY. For more information, visit www.relieftherapeutics.com.

ABOUT NEUROX
NeuroX is a Swiss-based, commercial-stage company that in 2025 acquired strategic assets of MindMaze Group SA and MindMaze SA (MindMaze), including intellectual property and the MindMaze^® brand. MindMaze pioneered first-of-its-kind digital neurotherapeutics that provide disease-modifying motor and cognitive treatments for neurological diseases and brain disorders. Built on an advanced brain technology platform integrating software, sensors, and telehealth, NeuroX solutions are deployed globally across clinics and home settings. The company’s clinically validated technology has demonstrated significant medico-economic outcomes across conditions such as stroke, Parkinson’s disease, and at-risk aging. NeuroX continues to expand its R&D pipeline into adjacent neurological indications, including multiple sclerosis, spinal cord injury, traumatic brain injury, and Alzheimer’s disease.

CONTACT
RELIEF THERAPEUTICS Holding SA
Jeremy Meinen
Chief Financial Officer
contact@relieftherapeutics.com

DISCLAIMER
This press release contains forward-looking statements, which may be identified by words such as “believe,” “assume,” “expect,” “intend,” “may,” “could,” “will,” or similar expressions. These statements are based on current plans and assumptions and are subject to risks and uncertainties that could cause actual results, financial condition, performance, or achievements to differ materially from those expressed or implied. Such factors include, but are not limited to, changes in economic conditions, market developments, regulatory changes, competitive dynamics, and other risks or changes in circumstances. There can be no assurance that the proposed business combination will be completed within the anticipated timeframe or at all. This communication is provided as of the date hereof, and Relief undertakes no obligation to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

Grünenthal announces pricing of bond extension

Aachen, Germany, 14 November 2025 – Grünenthal, a science-based pharmaceutical company and a leader in pain management, today announced the extension of its existing issue of Senior Secured Notes due 2031 (the “Existing Notes”) by €175 million (the “Additional Notes”) to a total sum of €675 million. The Additional Notes are expected to be issued and settled on 26 November 2025 (the “Issue Date”).

The extension was made with the same interest rate of 4.625%, and maturity in 2031, as the Existing Notes. The Issuer’s outstanding Senior Secured Notes due 2028 and Senior Secured Notes due 2030 remain unchanged.

The Additional Notes were offered outside the United States in reliance on Regulation S (“Regulation S”) under the Securities Act of 1933, as amended (the “Securities Act”). The Additional Notes will be issued with a temporary international securities identification number (“ISIN”) (Temporary ISIN: XS3227188375) that will differ from the ISIN of the Existing Notes during the 40-day period prescribed by Regulation S, commencing on the Issue Date (the “Distribution Compliance Period”). Following the Distribution Compliance Period, the Additional Notes will become fully fungible with, and have the same ISIN as, the Existing Notes issued pursuant to Regulation S (Permanent ISIN: XS2951378434).

The net proceeds of the extension will be used to pay down existing bank liabilities and for general corporate purposes, which may include the funding of add-on acquisitions, payments under existing joint venture arrangements or similar cash outflows. As a result of this transaction, our new debt maturity profile and enhanced capital structure provide Grünenthal with a solid basis to further pursue our growth strategy.

Grünenthal will be announcing its financial results for the nine months ended September 30, 2025 on Friday, November 28, 2025.  Furthermore, in connection with this pricing announcement, we are also pre-announcing summary Q3 results that are in line with expectations as follows: we expect to report Q3 revenues of €1,351m and Adjusted EBITDA of €404m.

This announcement is not an offer for sale of securities. This announcement does not constitute an offer to sell or the solicitation of an offer to buy the Additional Notes or any other security and shall not constitute an offer, solicitation or sale in the United States or in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful.

The Additional Notes and the related guarantees have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”) or the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold within the United States, or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state or local securities laws. The Additional Notes and the related guarantees were sold in a private placement exempt from the registration requirement of the Securities Act and have accordingly been sold in “offshore transactions” to non-U.S. persons outside the United States in accordance with Regulation S under the Securities Act.

This communication is only being distributed to and is only directed at (i) persons who are outside the United Kingdom, (ii) persons who are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), (iii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Order, or (iv) any persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the issue or sale of any securities may otherwise lawfully be communicated or cause to be communicated (all such persons together being referred to as “relevant persons”). The investments to which this press release relates are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents.

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Forward-looking statements

This news release may include “forward-looking statements” within the meaning of the securities laws of certain applicable jurisdictions. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding our intentions, beliefs or current expectations concerning, among other things: our future financial conditions and performance, results of operations and liquidity; our strategy, plans, objectives, prospects, growth, goals and targets and future developments in the markets in which we participate or are seeking to participate. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms “anticipate”, “believe”, “continue”, “ongoing”, “estimate”, “expect”, “intend”, “may”, “plan”, “potential”, “predict”, “project”, “target”, “seek” or, in each case, their negative, or other variations or comparable terminology. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Readers are cautioned that forward-looking statements are not guarantees of future performance and that our actual financial condition, results of operations and cash flows, and the development of the industry in which we operate, may differ materially.

About Grünenthal

Grünenthal is a global leader in pain management and related diseases. As a science-based, fully integrated pharmaceutical company, we have a long track record of bringing innovative treatments and state-of-the-art technologies to patients worldwide. Our purpose is to change lives for the better – and innovation is our passion. We focus all our activities and efforts on working towards our vision of a World Free of Pain.

Grünenthal is headquartered in Aachen, Germany, and has affiliates in 28 countries across Europe, Latin America, and the U.S. Our products are available in approx. 100 countries. In 2024, Grünenthal employed around 4,300 people and achieved revenues of €1.8 billion.

More information: https://www.grunenthal.com

Follow us on: LinkedIn: Grunenthal Group

Instagram: grunenthal

Click here for our Grünenthal Report 2024/2025

For further information, please contact:

Frauenfeld, 13 November 2025

Press release

DocMorris announces the results of the tender offer for its Outstanding Convertible Bonds due 2026

Following the closing of the tender offer period on 12 November 2025 at 4:00pm CET, DocMorris announces the results of the tender offer for its Outstanding Convertible Bonds due 2026 (“Bonds“). The number of tendered Bonds under the Tender Offer is 72,713 corresponding to an aggregate principal amount of CHF 72,713,000.

The Company accepts the full tendered amount for a purchase price of CHF 1,035 per Bond, corresponding to 103.5% of the par value, plus accrued and unpaid interest. The expected settlement date for the Tender Offer is 17 November 2025.

Following settlement of the Tender Offer, 22,259 Bonds, corresponding to an aggregate principal amount of CHF 22,259,000 will remain outstanding.

Investors and analyst contact
Dr. Daniel Grigat, Head of Investor Relations & Sustainability
Email: ir@docmorris.com, phone: +41 52 560 58 10

Media contact
Torben Bonnke, Director Communications
Email: media@docmorris.com, phone: +49 171 864 888 1

Agenda

DocMorris
The Swiss-based DocMorris AG is a leading company in the fields of online pharmacy, telemedicine and marketplace with strong brands in Germany and other European countries. Deliveries are mainly from the highly automated logistics centre in Heerlen, the Netherlands. TeleClinic is Germany’s largest telemedicine platform, connecting patients with more than 5,000 physicians. DocMorris operates leading marketplaces for health and personal care products in Southern Europe. With its broad range of products and services, DocMorris is pursuing its vision of becoming the leading digital health companion for everyone to manage their health in one click. Around 1,600 employees in Germany, the Netherlands, Spain, France, Portugal and Switzerland generated an external revenue of CHF 1,085 million serving more than10 million active customers in 2024. The shares of DocMorris AG are listed on the SIX Swiss Exchange (securities number 4261528, ISIN CH0042615283, ticker DOCM). For further information, please visit corporate.docmorris.com.

Disclaimer

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Immunic, Inc. Reports Third Quarter 2025 Financial Results and Provides Corporate Update

– Key Data Highlighting Vidofludimus Calcium’s Therapeutic Potential in Multiple Sclerosis Presented at 41^st Congress of ECTRIMS –

– Phase 2 CALLIPER Data Demonstrated Statistically Significant 24-Week Confirmed Disability Improvement in Progressive Multiple Sclerosis, With Consistent Signals for Slowing Disability Progression Across Subgroups and Endpoints, Supporting Vidofludimus Calcium’s Neuroprotective Potential and Nurr1 Activation Mechanism –

– Long-Term Phase 2 EMPhASIS Data in Relapsing-Remitting Multiple Sclerosis Showed High Rates of Patients Remaining Free of Confirmed Disability Worsening and Favorable Long-Term Safety and Tolerability –

– Top-Line Data from Twin Phase 3 ENSURE Trials of Vidofludimus Calcium in Relapsing Multiple Sclerosis Expected by Year-End 2026 – 

NEW YORK, November 13, 2025 – Immunic, Inc. (Nasdaq: IMUX), a late-stage biotechnology company pioneering the development of novel oral therapies for neurologic and gastrointestinal diseases, today announced financial results for the three and nine months ended September 30, 2025, and provided a corporate update.

“The third quarter was marked by our strong presence at the 41st Congress of the European Committee for Treatment and Research in Multiple Sclerosis (ECTRIMS), during which we had the opportunity to highlight the clinical momentum of our lead asset, vidofludimus calcium (IMU-838), an orally available nuclear receptor-related 1 (Nurr1) activator, and its potential to transform the oral multiple sclerosis (MS) therapy landscape,” stated Daniel Vitt, Ph.D., Chief Executive Officer of Immunic. “The collective data meanwhile available from across our clinical MS trials, including the phase 2 CALLIPER and EMPhASIS trials, highlight vidofludimus calcium’s unique promise to slow disability progression in both relapsing and progressive forms of the disease. Notably, new data from our positive phase 2 CALLIPER trial in progressive MS (PMS), also featured in the Best of ECTRIMS 2025 slide deck, showed statistically significant 24-week confirmed disability improvement in the overall patient population and consistent effects across both the primary progressive MS (PPMS) and non-active secondary progressive MS (naSPMS) subgroups, further reinforcing the compound’s neuroprotective and anti-inflammatory characteristics.”

“We believe the CALLIPER data clearly support advancing vidofludimus calcium into phase 3 development in progressive forms of MS. With only one approved therapy currently available for PPMS, there is a significant opportunity in this underserved, multi-billion-dollar market. By slowing disease progression, vidofludimus calcium could help patients maintain independence, manage symptoms more effectively, and achieve improved long-term outcomes.”

Dr. Vitt continued, “Notably, we also presented additional long-term data from the open-label extension (OLE) period of our phase 2 EMPhASIS trial in relapsing-remitting multiple sclerosis (RRMS) at ECTRIMS, which further highlighted the robust efficacy signals and favorable safety and tolerability observed, to date. Our twin phase 3 ENSURE trials in relapsing MS (RMS) remain on track. Given vidofludimus calcium’s unique profile and its potential to become the oral therapy of choice addressing the full spectrum of MS, we look forward to reporting top-line data by the end of 2026.”

“We also successfully continued our efforts to meaningfully enhance our strong and multi-layered intellectual property position for vidofludimus calcium. During the quarter, we received a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for a key patent covering dose strengths of vidofludimus calcium for the treatment of PMS. This newly allowed patent adds another layer of potential exclusivity protection in the United States, with the option for further term extension.”

Third Quarter 2025 Highlights

The CALLIPER data underscored vidofludimus calcium’s neuroprotective potential across PMS populations and its ability to slow disease progression in patients with or without focal inflammation. Consistent 24-week confirmed disability worsening (24wCDW) outcomes were observed across disability endpoints, patient populations and subgroups (including the overall population and in PPMS and naSPMS), and those without baseline inflammatory gadolinium-enhancing (Gd+) lesions during magnetic resonance imaging (MRI). Newly available data regarding 24-week confirmed disability improvement (24wCDI) demonstrated a greater than two-fold probability for vidofludimus calcium over placebo, statistically significant in the overall PMS population, with consistent trends across subtypes. These findings support clinically measurable neuroprotective effects consistent with vidofludimus calcium’s Nurr1 activation mechanism and de-risk a potential phase 3 program, as 24wCDW is an accepted regulatory endpoint to demonstrate clinical benefit in PMS.

Long-term data from the phase 2 EMPhASIS OLE period reinforced vidofludimus calcium’s robust efficacy signals and favorable safety and tolerability profile, demonstrating that it was well-tolerated for treatment durations of up to 5.5 years in patients with RRMS. Among 182 patients remaining on therapy as of January 14, 2025, cumulative exposure totaled ~952 treatment years with an annualized discontinuation rate of only ~6.4%. Most adverse events were mild, with low rates of renal and liver-related events, and no new safety signals observed. Serious adverse events were infrequent, and none were deemed related to treatment.

Anticipated Clinical Milestones

Financial and Operating Results

For the nine months ended September 30, 2025, R&D expenses were $63.0 million, as compared to $58.4 million for the nine months ended September 30, 2024. The $4.5 million increase reflects (i) a $6.2 million increase in external development costs related to the phase 3 ENSURE trials and (ii) a $1.6 million increase in personnel expenses for R&D, of which $0.4 million was related to non-cash stock compensation. The increase was offset by (i) a $2.7 million decrease in external development costs related to IMU-856 primarily due to the timing of the purchase of drug supply for this program and (ii) a $0.6 million decrease across numerous categories.

For the nine months ended September 30, 2025, G&A expenses were $17.0 million, as compared to $14.0 million for the same period ended September 30, 2024. The $3.0 million increase was due to (i) a $1.8 million increase related to personnel expenses, of which $0.8 million was related to non-cash stock compensation, (ii) a $0.6 million increase in legal and consultancy expenses and (iii) a $0.6 million increase related to costs across numerous categories.

For the nine months ended September 30, 2025, interest income was $0.8 million, as compared to $3.0 million for the same period ended September 30, 2024. The $2.1 million decrease was due to a lower average cash balance.

For the nine months ended September 30, 2025, Other Income (Expense) was $1.2 million, as compared to ($1.1 million) for the same period ending September 30, 2024. The $2.3 million increase was primarily attributable to (i) a $1.7 million expense related to the portion of deal costs from the January 2024 Financing related to the tranche rights that were established at the time of the deal closing in 2024, (ii) $1.0 million of grant income from the German Federal Ministry of Finance recognized in the first quarter 2025 and (iii) a $0.3 million increase across numerous categories. The increase was offset by a $0.7 million decrease in research and development tax incentives for clinical trials in Australia due to lower clinical trial spend in Australia.

Net loss for the nine months ended September 30, 2025, was approximately $77.9 million, or $0.55 per basic and diluted share, based on 142,811,489 weighted average common shares outstanding, compared to a net loss of approximately $75.3 million or $0.75 per basic and diluted share, based on 99,998,245 weighted average common shares outstanding for the same period ended September 30, 2024.

About Immunic, Inc.

Immunic, Inc. (Nasdaq: IMUX) is a late-stage biotechnology company pioneering the development of novel oral therapies for neurologic and gastrointestinal diseases. The company’s lead development program, vidofludimus calcium (IMU-838), is currently in phase 3 clinical trials for the treatment of relapsing multiple sclerosis, for which top-line data is expected to be available by the end of 2026. It has already shown therapeutic activity in phase 2 clinical trials in patients suffering from relapsing-remitting multiple sclerosis and progressive multiple sclerosis. Vidofludimus calcium combines neuroprotective effects, through its mechanism as a first-in-class nuclear receptor related 1 (Nurr1) activator, with additional anti-inflammatory and anti-viral effects, by selectively inhibiting the enzyme dihydroorotate dehydrogenase (DHODH). IMU-856, which targets the protein Sirtuin 6 (SIRT6), is intended to restore intestinal barrier function and regenerate bowel epithelium, which could potentially be applicable in numerous gastrointestinal diseases, such as celiac disease as well as inflammatory bowel disease, Graft-versus-Host-Disease and weight management. IMU-381, which currently is in preclinical testing, is a next generation molecule being developed to specifically address the needs of gastrointestinal diseases. For further information, please visit: www.imux.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, sufficiency of cash and cash runway, expected timing, development and results of clinical trials, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to Immunic’s development programs and the targeted diseases; the potential for Immunic’s development programs to safely and effectively target diseases; preclinical and clinical data for Immunic’s development programs; the feasibility of advancing vidofludimus calcium to a confirmatory phase 3 clinical trial in progressive multiple sclerosis; the timing of current and future clinical trials and anticipated clinical milestones; the nature, strategy and focus of the company and further updates with respect thereto; and the development and commercial potential of any product candidates of the company. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, increasing inflation, tariffs and macroeconomics trends, impacts of the Ukraine – Russia conflict and the conflict in the Middle East on planned and ongoing clinical trials, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, and the ability to raise sufficient capital to continue as a going concern, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, any changes to the size of the target markets for the company’s products or product candidates, the protection and market exclusivity provided by Immunic’s intellectual property, risks related to the drug development and the regulatory approval process and the impact of competitive products and technological changes. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned “Risk Factors,” in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 31, 2025, and in the company’s subsequent filings with the SEC. Copies of these filings are available online at www.sec.gov or ir.imux.com/sec-filings. Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this press release.

Contact Information

Immunic, Inc.
Jessica Breu
Vice President Investor Relations and Communications
+49 89 2080 477 09
jessica.breu@imux.com

US IR Contact
Rx Communications Group
Paula Schwartz
+1 917 633 7790
immunic@rxir.com

US Media Contact
KCSA Strategic Communications
Caitlin Kasunich
+1 212 896 1241
ckasunich@kcsa.com

PRESS RELEASE

Biotest obtains approval for new human fibrinogen Prufibry^® in Germany

• New life-saving therapy for patients with congenital and acquired fibrinogen deficiency
• Clinical studies demonstrate efficacy and safety in bleeding control and surgical settings
• Important expansion to Biotest’s intensive care and coagulation factor portfolio
• Produced at the highly efficient Biotest Next Level facility in Dreieich

Dreieich, 13 November 2025.  Biotest AG, part of the Grifols Group, announced today that the German competent authority, the Paul-Ehrlich-Institut, has approved Prufibry^® (human fibrinogen; development name BT524) for the German market. Biotest’s human fibrinogen is a highly purified product with a precisely defined amount of fibrinogen, allowing for a predictable response and a rapid replenishment of fibrinogen, which is important in these critical moments.

“Prufibry^® expands Biotest’s product portfolio in the field of intensive care and coagulation disorders with a new, highly purified plasma protein,” emphasises Dr Jörg Schüttrumpf, Chief Executive Officer of Biotest AG. “With this approval, patients suffering from congenital and acquired fibrinogen deficiency will gain access to an effective, reliable and safe therapy to prevent and control life-threatening bleeding events especially in surgical and trauma settings.”

Clinical development and indications

This approval is based on a comprehensive clinical development program including pivotal Phase III trials. The studies demonstrated that BT524 effectively restored fibrinogen levels and controlled bleeding episodes in patients with congenital afibrinogenemia and hypofibrinogenemia. In addition, perioperative use of BT524 in major surgeries confirmed its efficacy in preventing excessive bleeding when standard coagulation support was insufficient.

The approval covers the following indications in adults, children and adolescents (0-18 years):

Biotest’s human fibrinogen is indicated:

• for the treatment and peri-operative prophylaxis of bleeding in patients with congenital hypo- or afibrinogenaemia with bleeding tendency.
• as complementary therapy to management of uncontrolled severe haemorrhage in acquired hypofibrinogenaemia caused by surgery or trauma.

Manufactured at Biotest Next Level

Biotest’s human fibrinogen is produced in the new “Biotest Next Level” production facility at the Dreieich site. This state-of-the-art manufacturing platform enables high yields, robust viral safety, and sustainable use of the valuable raw material plasma.

The approval represents another important milestone in Biotest’s strategy to broaden its specialty plasma protein portfolio and to strengthen supply security for patients worldwide.

Outlook

With the approval in Germany, the launch of Biotest’s human fibrinogen is expected by the end of 2025. Further approvals in European and international markets are planned.

Prufibry^® joins Biotest’s established coagulation factor products and complements the company’s growing specialty portfolio.

About Prufibry^®

The newly developed manufacturing process of human fibrinogen leads to high-purity fibrinogen with a defined concentration, high level of viral safety and good solubility.

About AdFIrst trial no. 995

The AdFIrst trial was a prospective, active-controlled, multicentre phase III trial investigating the efficacy and safety of the Fibrinogen concentrate (BT524) in patients with acquired fibrinogen deficiency. Patients who had high blood loss during planned spinal or abdominal surgery were randomized 1:1 to treatment with Fibrinogen concentrate (BT524) or fresh frozen plasma (FFP)/Cryoprecipitate. To evaluate the efficacy of BT524, further blood loss was compared between treatment options. Further information about the trial design can be found at www.clinicaltrialsregister.eu (EudraCT number: 2017-001163-20).

About fibrinogen and fibrinogen deficiency

Fibrinogen is a blood clotting factor that is produced in the liver. It plays a key role in primary haemostasis (stopping blood loss from bleeding wounds) and wound healing. In case of a lack or shortage of fibrinogen blood’s ability to clot is impaired which leads to a much greater risk of bleeding and delayed haemostasis. The fibrinogen concentrate alternatives fresh frozen plasma (FFP) and cryoprecipitate contain variable amounts of fibrinogen and must be thawed prior totreatment. The defined amount of fibrinogen in the fibrinogen concentrate will allow a tailor-made, patient specific and highly effective therapy.

About Biotest

Biotest is a provider of biological therapeutics derived from human plasma. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of clinical immunology, haematology and intensive care medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumin based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. Biotest has more than 2,600 employees worldwide. Since May 2022, Biotest has been a part of the Grifols Group, based in Barcelona, Spain (www.grifols.com).

IR contact

Dr Monika Baumann (Buttkereit)

Phone: +49-6103-801-4406
Mail: ir@biotest.com

PR contact

Miriam Oehme

Phone: +49 -152 07016 992
Mail: pr@biotest.com

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com

Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201

Preference shares: securities’ ID No. 522723; ISIN DE0005227235

Listing: Open Market: Berlin, Düsseldorf, Hamburg/ Hanover, Munich, Stuttgart, Tradegate

Disclaimer
This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.

Stable earnings despite portfolio adjustment – 2025 guidance confirmed, strong growth in branded pharmaceuticals

• Strong organic revenue growth and robust earnings trend in high-margin “Branded pharmaceuticals” segment
• Efforts proceeding as planned to restructure parallel imports product portfolio with focus on contribution margins and to reorganise business model at Arkopharma
• Adjusted EBITDA (excluding vaccine business) and adjusted EBITDA margin stable at prior-year level
• Board of Management confirms full-year guidance for 2025

Grünwald, 13 November 2025 – Dermapharm Holding SE (“Dermapharm”), a rapidly growing manufacturer of branded pharmaceuticals and other healthcare products, today publishes its results for the first nine months of 2025.

Dermapharm Holding SE performed in line with expectations in the first nine months of 2025. Consolidated revenue decreased slightly by 2.3% to EUR 869.4 million as compared to the prior-year period (prior-year period: EUR 890.1 million). Adjusted for the remaining vaccine business, which is in the low double-digit million range, consolidated revenue declined by 1.7%. This was mainly down to the efforts to restructure the product portfolio in the “Parallel import business” segment to focus on contribution margins. Revenue was buoyed by the strong organic growth of 5.8% in the “Branded pharmaceuticals” segment (adjusted for the vaccine business), which however was unable to fully offset the revenue decline, primarily in the “Parallel import business”.

EBITDA adjusted for non-recurring items decreased by 1.8% to EUR 236.0 million in the first nine months of 2025 (prior-year period: EUR 240.3 million). Excluding the vaccine business, adjusted EBITDA improved by 0.8% year on year. Viewed in isolation, the third quarter of 2025 saw adjusted EBITDA grow slightly by 0.8%. Unadjusted EBITDA declined to EUR 230.8 million (prior-year period: EUR 234.1 million). The adjusted and unadjusted EBITDA margins remained virtually stable at 27.1% and 26.5%, respectively (prior-year period: 27.0% and 26.3%), not least due to the declining share of low-margin parallel imports in consolidated revenue.

“Despite a challenging market environment, we maintained a stable level of profitability in the first nine months of 2025 and set a key strategic course. We are particularly pleased with the continued strong growth in our high-margin ‘Branded pharmaceuticals’ segment. The planned restructuring of our portfolio and business model in individual areas lays a foundation for their sustainable, profitable growth, and we are confident about the rest of the year,” said Dr Hans-Georg Feldmeier, CEO of Dermapharm Holding SE.

Branded pharmaceuticals

In the “Branded pharmaceuticals” segment, strong organic growth in the existing business, in particular the Allergopharma Group and the international companies, translated to a 4.2% rise in revenue from EUR 431.6 million in the previous year to EUR 449.8 million. Adjusted for the remaining vaccine business, revenue grew by a notable 5.8%.

Unadjusted EBITDA rose by 3.1% to EUR 198.3 million (prior-year period: EUR 192.3 million), due primarily to organic growth in the existing business. This corresponds to an EBITDA margin of 44.1% (prior-year period: 44.6%). The segment’s adjusted EBITDA likewise rose, increasing by 1.2% to EUR 199.6 million (prior-year period: EUR 197.3 million). Adjusted non-recurring expenses declined significantly from EUR 5.0 million to EUR 1.3 million, and related primarily to restructuring measures.

Other healthcare products

In the “Other healthcare products” segment, Dermapharm generated EUR 269.0 million in revenue in the first nine months of 2025 (prior-year period: EUR 271.7 million). The slight decline in revenue was due primarily to the ongoing reorganisation of Arkopharma’s business model. The organic growth in the rest of the existing business did not fully offset the decline. 

The segment’s adjusted EBITDA amounted to EUR 42.1 million (prior-year period: EUR 45.8 million) and reflected the corresponding revenue trend. Earnings were also impacted by the weaker US dollar and the resulting currency losses. The adjusted non-recurring expenses amounted to EUR 2.8 million (prior-year period: EUR 1.2 million) and were likewise primarily connected with restructuring measures. Unadjusted EBITDA amounted to EUR 39.3 million (prior-year period: 44.6 million), corresponding to an EBITDA margin of 14.6% (prior-year period: 16.4%).

Parallel import business

In the “Parallel import business” segment, there was no let-up in the strategic realignment concentrated on portfolio optimisation with a focus on contribution margins. As expected, the targeted focus on higher-margin products went hand-in-hand with a decline in revenue to EUR 150.6 million (prior-year period: EUR 186.9 million).

The segment’s adjusted EBITDA amounted to EUR -1.6 million (prior-year period: EUR 1.1 million) and is due primarily to the initial decline in the absolute contribution margin as a result of falling product sales. The adjusted non-recurring expenses amounted to EUR 1.2 million (prior-year period: EUR 0.0 million) and were likewise due to restructuring measures. Unadjusted EBITDA amounted to EUR -2.8 million (prior-year period: 1.1 million), and the EBITDA margin amounted to -1.9% (prior-year period: 0.6%). The segment’s earnings continue to develop in line with expectations in the current 2025 financial year as the absolute contribution margins rise.

Board of Management confirms outlook for 2025 overall

Given that the Company performed in line with projections in the first nine months of the current financial year 2025, and in light of the positive outlook for the final quarter, the Board of Management confirms that both consolidated revenue and adjusted EBITDA will be in line with the published forecast range of between EUR 1,160–1,200 million and EUR 322–332 million, respectively.

The full interim statement for Q3 2025 can now be downloaded from https://ir.dermapharm.de/en.

IFRS figures for 9M 2025 and the prior-year period

(excluding segment reconciliation/Group holding company)

*   9M 2025 EBITDA was adjusted for non-recurring items amounting to EUR 5.2 million.
    9M 2024 EBITDA was adjusted for non-recurring items amounting to EUR 6.2 million.

Company profile

Dermapharm – Pharmaceutical Excellence “Made in Europe”

Dermapharm is an innovative and rapidly growing manufacturer of branded pharmaceuticals and other healthcare products. Founded in 1991, the Company is based in Grünwald near Munich. In addition to its main location in Brehna near Leipzig, Dermapharm also operates other production, development and distribution locations, including in Germany, the rest of Europe and the United States.

In the “Branded pharmaceuticals” segment, Dermapharm has more than 1,300 marketing authorisations with more than 390 active pharmaceutical ingredients. Dermapharm’s portfolio of pharmaceuticals is tailored to selected therapeutic areas in which the Company is a market leader, especially in Germany. The Company’s integrated business model extends from in-house product development and production through quality management and logistics to the distribution of branded pharmaceuticals by a trained pharmaceutical sales force.

Dermapharm bundles food supplements, herbal pharmaceuticals, cosmetics, medical devices, herbal extracts and medicinal cannabis in its “Other healthcare products” segment. In this segment, Dermapharm can tap the expertise of Arkopharma, the market leader for phytotherapeutic food supplements in France, and the Spanish company Euromed S.A., a leading global manufacturer of herbal extracts and plant-based active ingredients for the pharmaceuticals, nutraceuticals, foodstuffs and cosmetics industries.

Dermapharm also operates the “Parallel import business” segment under the axicorp brand. axicorp imports originator pharmaceuticals from other EU Member States and resells them to pharmaceuticals wholesalers and pharmacies in Germany. This enables axicorp to benefit from the different pricing structures in the individual EU member states. Based on revenue, axicorp is currently the seventh largest parallel importer in Germany.

With a consistent R&D strategy and numerous successful product and company acquisitions and by stepping up its internationalisation efforts, the Group is continuously optimising its business activities and seeks external growth opportunities in addition to organic growth.

Contact

Investor Relations & Corporate Communications
Britta Hamberger
Tel.: +49 (0)89 64186-233
E-mail: ir@dermapharm.com

3^rd quarter of 2025:

• Sales of €75.3 million (previous year: €70.1 million)
• EBIT before special items of €15.4 million (previous year: €14.2 million)
• Net income of €8.5 million (previous year: €5.3 million)

First 9 months of 2025:

• Sales of €224.1 million (previous year: €215.5 million)
• EBIT before special items of €50.8 million (previous year: €46.7 million)
• Net income of €29.9 million (previous year: €23.4 million)

Forecast for 2025:

• Sales of approx. €320 million (confirmed)
• EBIT before special items of approx. €78 million (confirmed)

Berlin, 13 November 2025. Eckert & Ziegler SE (ISIN DE0005659700, TecDAX) increased sales in the first nine months of 2025 by 4% to €224.1 million compared to the same period last year. EBIT before special items from continuing operations (adjusted EBIT) rose by 9% to €50.8 million. Net profit (from continuing and discontinued operations) grew by 28% to €29.9 million, or €0.48 per share.

In the Medical segment, sales in the first nine months of the year amounted to €119.7 million, up around €15.2 million or 15% on the previous year’s level. The business with pharmaceutical radioisotopes remains the most important source of revenue. Particularly noteworthy here are the developments in sales of generators, licensing, and contract manufacturing & development (CDMO).

The Isotope Products segment generated external sales of €104.4 million, down €6.6 million or approximately 6% compared to the first nine months of the previous year. Shifts between product groups toward lower-margin products have become apparent in comparison to the same period last year.

For the current fiscal year 2025, the Executive Board confirms its profit forecast published on March 27, 2025, with sales of approx. €320 million and an adjusted EBIT of approx. €78 million.

The complete quarterly report can be viewed here: https://www.ezag.com/Q32025en

About Eckert & Ziegler.
Eckert & Ziegler SE, with more than 1.000 employees, is a leading specialist for isotope-related components in nuclear medicine and radiation therapy. The company offers a broad range of services and products for the radiopharmaceutical industry, from early development work to contract manufacturing and distribution. Eckert & Ziegler shares (ISIN DE0005659700) are listed in the TecDAX index of Deutsche Börse.
Contributing to saving lives.

Your contact:
Eckert & Ziegler SE, Karolin Riehle, Investor Relations
Robert-Rössle-Str. 10, 13125 Berlin, Germany
Tel.: +49 (0) 30 / 94 10 84-138, karolin.riehle@ezag.de, www.ezag.com