Full Press Release Details
Pharma Limited Reports Annual Results for the Twelve Months Ended March 31, 2023
and New York, NY, August 15 2023 - OKYO Pharma Limited (NASDAQ: OKYO), an ophthalmology-focused bio-pharmaceutical company which
is developing OK-101 to treat dry eye disease ("DED") to address the significant unmet need in this multi-billion-dollar
market, today announced financial results for the twelve months ended March 31, 2023 and provided a corporate update on its lead program
Jacob, Chief Executive Officer of OKYO, commented, "We are very pleased at the advancements we have made with our flagship drug
OK-101 to treat DED this year. On May 2, 2023, we announced the initiation of our first clinical trial of OK-101 to treat DED. This trial
is a 240 patient, phase 2, multi-center, randomized, double-masked, placebo-controlled trial in patients with DED. This summer we are
expecting to see considerable enrollment of patients in the ongoing trial and are presently on track to have top line data released in
Q4 2023. I am also excited about OK-101's dual combination of anti-inflammatory ocular activity and neuropathic corneal pain (NCP)
reducing activity. NCP is a debilitating condition characterized by chronic and severe eye discomfort, leading to decreased quality of
life for affected individuals. There is presently no FDA approved drug to treat NCP and we were pleased to recently announce our plan
to open a small trial of OK-101 to treat patients with NCP at Tufts Medical Center in Boston. We remain steadfast in our dedication to
advancing groundbreaking ocular solutions that have the potential to transform patients' lives. Our team's resilience and
unwavering focus on research and development will continue to be the driving force behind our progress. We are actively exploring opportunities
to optimize our operational efficiency and enhance our partnerships within the industry. Thank you to our employees, partners, and shareholders
for their continued support as we work diligently to bring about a new treatment to benefit the many millions of patients suffering from
Developments Related to OK-101
| OKYO announced that the first patient has been screened for its phase 2, multi-center, randomized, double-blinded, placebo-controlled trial, evaluating the efficacy and safety of OK-101 ophthalmic solution in subjects with DED. | |
| OKYO announced that two presentations were to be given on OK-101 at the American Society of Cataract and Refractive Surgery (ASCRS 2023) in San Diego, CA, May 5-8, 2023. |
Year End Financial Results
Annual Report on Form 20-F can be accessed by visiting either the SEC's website at www.sec.gov or the Investors section of the
Company's website at https://okyopharma.com/investors/corporate-governance/corporate-documents/ .
is a lipid conjugated chemerin peptide agonist of the ChemR23 G-protein coupled receptor which is typically found on immune cells of
the eye responsible for the inflammatory response. OK-101 was developed using a membrane-anchored-peptide (MAP) technology to produce
a novel long-acting drug candidate for treating dry eye disease. OK-101 has been shown to produce anti-inflammatory and pain-reducing
activities in mouse models of dry eye disease and NCP; and is designed to combat washout through the inclusion of the lipid anchor'
contained in the candidate drug molecule to enhance the residence time of OK-101 within the ocular environment.
Pharma Limited (NASDAQ: OKYO) is a life sciences company listed on the NASDAQ capital market. OKYO is focusing on the discovery and development
of novel molecules to treat inflammatory dry eye diseases and chronic pain. For further information, please visit www.okyopharma.com.
statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather
are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words
such as anticipates,' expects,' intends,' plans,' believes,' seeks,'
estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees
of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's
control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking
statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking
statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this
announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to
release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events
occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
S. Jacob, Ph.D., CEO
Spencer, Business Development and Investor Relations
+44 (0) 207 495 2379
email: info@okyopharma.com