Encinitas, CA - (August 3, 2023) - Kiora Pharmaceuticals, Inc. (Nasdaq: KPRX), a clinical-stage ophthalmic pharmaceutical company developing novel therapeutics for patients with high unmet needs, and the Choroideremia Research Foundation (CRF), the largest organization in the world focused on the search for a cure for choroideremia (CHM), have partnered to advance a potential new treatment for patients with CHM. Choroideremia is a rare, inherited retinal disease that causes blindness. This collaboration will accelerate Kiora’s development of KIO-301, a small molecule designed to restore vision in patients with later-stage retinal degeneration.

There are approximately 12,000 CHM patients in the United States and Europe, qualifying it as a rare disease under the US Orphan Drug Act. Even with this relatively low prevalence, due to the nature of the disease, CHM accounts for ~4% of all causes of blindness. CHM shares traits with another rare, inherited retinal disease called Retinitis Pigmentosa (RP). Both diseases are caused by underlying inherited gene defects and result in the death of photoreceptors within the retina. These are the cells that normally capture light and convert it into signals that are used by the brain to process vision. In CHM, men are predominantly affected due to its X-linked etiology, but women can have some effects from carrying this genetic mutation.

Kathi Wagner, Executive Director of the Choroideremia Research Foundation, said, "This collaboration with Kiora represents a significant step forward in our mission to bring new options to patients living with choroideremia. There is only one other active clinical stage program in CHM, which is simply not enough. We believe that KIO-301 has the potential to make a significant difference in the lives of those affected by this disease."

Under the collaboration, CRF will assist Kiora with access to clinical and scientific thought leaders to   assist in further development of KIO-301 for CHM. They will also provide aid in enrollment of patients for any future trials of KIO-301 for CHM.

Dr. Christine Kay, a vitreoretinal surgeon and recognized international expert in inherited retinal diseases, noted, “The need to develop new therapies for patients with CHM is clear, and with the potential behind KIO-301, it’s very exciting to see the CRF and Kiora collaborate towards this goal.”

"With the early clinical evidence and understanding of how KIO-301 works, we see a clear path for its application to choroideremia," said Brian Strem, Ph.D., President & CEO of Kiora. “By joining forces with CRF, we hope to make significant strides in the fight against this disease and accelerate the path to bringing this therapy to all of those in need.”

About the Choroideremia Research Foundation (CRF)

The Choroideremia Research Foundation is a non-profit organization dedicated to finding a cure for Choroideremia, a rare inherited retinal degenerative disease that causes blindness. For more information, visit www.choroideremia.org.

About Kiora Pharmaceuticals

Kiora Pharmaceuticals is a clinical-stage biotechnology company developing and commercializing products for the treatment of ophthalmic diseases. KIO-301 is being developed for the treatment of retinitis pigmentosa and potentially other inherited retinal diseases. KIO-301 is a molecular photoswitch that has the potential to restore vision in patients with inherited and/or age-related retinal degeneration. KIO-101 is being developed for the treatment of the Ocular Presentation of Rheumatoid Arthritis (OPRA). It is a next-generation, non-steroidal, immuno-modulatory and small molecule inhibitor of Dihydroorotate Dehydrogenase (DHODH) with what Kiora believes is best-in-class picomolar potency and a validated immune modulating mechanism (blocks T cell proliferation and proinflammatory cytokine release) designed to overcome the off-target side effects and safety issues associated with commercially available DHODH inhibitors. In addition, Kiora is developing KIO-201, a chemically cross-linked form of the natural polymer hyaluronic acid, designed to accelerate corneal wound healing.

In addition to news releases and SEC filings, Kiora expects to post information on its website, www.kiorapharma.com, and social media accounts that could be relevant to investors. Kiora encourages investors to follow Kiora on Twitter and LinkedIn as well as to visit Kiora’s website and/or subscribe to email alerts.

Forward-Looking Statements

Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements include statements relating to, among other things, Kiora’s intention to develop KIO-301 for choroideremia and the timeline of such development, the degree of cooperation with CRF, the potential of the partnership with CRF to accelerate development or KIO-301, the ability of KIO-301 to restore visual function in patients with choroideremia and retinitis pigmentosa, the potential for KIO-301 to address other retinal diseases, the development and commercialization efforts and other regulatory or marketing approval efforts pertaining to Kiora's development-stage products, including KIO-201, as well as the success thereof, with such approvals or success may not be obtained or achieved on a timely basis or at all. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including, among other things, the ability to conduct clinical trials on a timely basis, market and other conditions and certain risk factors described under the heading "Risk Factors" contained in Kiora's Annual Report on Form 10-K filed with the SEC on March 23, 2023 or described in Kiora's other public filings. Kiora's results may also be affected by factors of which Kiora is not currently aware. The forward-looking statements in this press release speak only as of the date of this press release. Kiora expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions, or circumstances on which any such statement is based, except as required by law.