THX Pharma : Shareholders' Letter

About this update from Thx Pharma

Letter to Shareholders Lyon, January 8, 2026 Dear Shareholders, The year 2025 was marked by profound changes for our company. Theranexus evolved into THX Pharma, marking the transition from a biotechnology company to a pharmaceutical industrial company, now focused on market access and revenue generation around its two flagship drug candidates, Batten-1 and TX01. The validation of our new name will be submitted to a shareholder vote at the next General Meeting in June 2026. This transformation has been accompanied by the strengthening of our executive governance, with the appointment of Julien Veys as Deputy Chief Executive Officer, in addition to his role as Chief Operating Officer. Since the end of 2024, THX Pharma and Exeltis have been working jointly on the submission of marketing authorization applications for TX01, planned for 2026. A major milestone was reached in October 2025 by both partners, paving the way for commercialization in Europe in 2027, which will represent THX Pharma's first significant source of commercial revenues, followed by launches in Latin America and in selected countries in the Middle East. In parallel, THX Pharma and the Beyond Batten Disease Foundation announced the availability of new real-world data that strongly reinforce the efficacy of Batten-1 in the treatment of CLN3 disease. These new results led to a reassessment of the clinical development plan for Batten-1. This optimized and financially streamlined program is based on the launch of early access in the United States, combined with a Phase 3 clinical trial in Europe, with a view to market access as early as 2028. Alongside these short- and medium-term priorities, we continue to pursue the targeted development of our new drug candidates, antisense oligonucleotides, within the framework of the PickASO project, which aims to control autophagy via the TFEB pathway, and more recently, to address the treatment of glioblastomas. Building on our new Batten-1 data, we decided to discontinue our financing line and subsequently launched a capital increase with maintenance of shareholders' preferential subscription rights, allowing each shareholder, should they so wish, to maintain their stake or strengthen their position. We are very pleased with the strong success of this transaction, with your support and that of our new investors. This operation provides us with the means to achieve financial autonomy by 2028, a key differentiating factor compared with other companies in the sector. We have gone through challenging periods, particularly at the end of 2024, which may have slowed our projects without ever compromising their quality. Our outlook has now brightened, and we are launching all the activities required to implement our vision. For 2026, our priorities are clear: to finalize regulatory submissions and prepare the commercialization of TX01, to launch the Phase 3 trial of Batten-1 and its compassionate access program, and to move PickASO into its next stages of development. We are also continuing discussions with potential partners, fully aware of the significant value creation that targeted licensing agreements can bring in the short or medium term. In this context, our course remains unchanged: placing the patient at the center of all our decisions while building a sustainable, value-creating pharmaceutical company. The year 2026 should enable us to accelerate the conversion of scientific validation into effective access to care for patients. Dear Shareholders, I would like to thank you for your trust, which is essential to the successful execution of our projects and to the benefit of patients suffering from rare neurological diseases. On behalf of our entire team, I extend to you my very best wishes for the year ahead. Yours sincerely, Mathieu Charvériat Chief Executive Officer, THX Pharma

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