OKYO Pharma Reports New Phase 2 Data Demonstrating Meaningful Improvements in Patient-Reported Quality of Life Outcomes with Urcosimod in Neuropathic Corneal Pain London and New York, NY

Pharma Reports New Phase 2 Data Demonstrating Meaningful Improvements in Patient-Reported Quality of Life Outcomes with Urcosimod in

Neuropathic Corneal Pain

and New York, NY, March 18, 2026. OKYO Pharma Limited (Nasdaq: OKYO), a clinical-stage biopharmaceutical company developing investigational

therapies for the treatment of neuropathic corneal pain (NCP) and for inflammatory eye diseases, today announced new positive findings

from an exploratory analysis of patient-reported outcomes in its recently completed Phase 2 proof-of-concept trial of urcosimod (0.05%)

for the treatment of NCP. This new quality-of-life (QoL) data will be presented at the Association for Research in Vision and Ophthalmology

(ARVO) 2026 Annual Meeting. The presentation, titled: "First-in-Human Study of Urcosimod to Treat Neuropathic Corneal Pain (NCP)

Shows Clinically Meaningful Pain Reduction and Quality-of-Life Improvement in NCP Patients" will detail the Phase 2a clinical trial

results, including reductions in pain as measured by the VAS, improvements in patient-reported QoL measures, as well as signals suggesting

potential restoration of corneal nerve structure in NCP patients. This event represents a key opportunity to share these new findings

with global eye and vision researchers, clinicians, and industry leaders.

this Phase 2, randomized, double-masked, placebo-controlled study, patients with NCP received either 0.05% urcosimod (n=6) or placebo

(n=6) in the Intent-to-Treat (ITT) population. After 12 weeks of treatment, patients receiving urcosimod demonstrated greater improvements

across key aspects of emotional well-being and quality of life compared to placebo. These measures were assessed on a 0-10 scale.

improvements included:

= Interquartile Range)

secondary findings build on the primary efficacy signals from the trial, where urcosimod previously demonstrated meaningful reductions

in pain as measured by the Visual Analogue Scale (VAS). The exploratory patient-reported outcomes data suggest that urcosimod may provide

broader therapeutic benefits, contributing to enhanced emotional well-being and overall day-to-day life satisfaction for patients suffering

from this debilitating condition.

is a severe, chronic ocular pain disorder with no FDA-approved treatments available, representing a major unmet medical need. These results

highlight urcosimod's potential holistic profile beyond pain reduction alone.

Pharma remains committed to addressing this significant unmet need and advancing urcosimod through further development. The Company plans

confirmatory studies to validate these encouraging exploratory results as part of its ongoing program, including a planned larger multi-center

are pleased to see these patient-reported quality-of-life benefits emerging alongside the primary pain reduction signals from urcosimod,"

said Flavio Mantelli, MD, PhD, Chief Medical Officer at OKYO Pharma. "Like pain, QoL is a clinically meaningful endpoint, and this

exploratory analysis reinforces the holistic therapeutic profile of urcosimod and strengthens our confidence as we advance toward larger

confirmatory trials to fully characterize its potential in addressing the profound burden of NCP."

are encouraged by the consistent improvements observed across key patient-reported outcomes, including time spent thinking about eye

pain and functional measures such as mood and enjoying activities, compared with placebo," said Raj Patil, Ph.D., Chief Scientific

Officer at OKYO Pharma. "These findings support the potential of urcosimod therapy to meaningfully impact patients living with

neuropathic corneal pain, a debilitating condition without FDA-approved therapy."

Neuropathic Corneal Pain (NCP)

corneal pain (NCP) is a chronic, often debilitating condition characterized by severe pain and sensitivity of the eyes, and in some cases

the face or head. It is thought to result from damage or dysfunction of corneal sensory nerves, often in combination with inflammatory

processes, and may occur in patients with a range of underlying ophthalmic conditions. There are currently no FDA-approved therapies

specifically for NCP, resulting in patients being treated with limited or no success using various topical and systemic medications in

an off-label manner.

Urcosimod (formerly called OK-101)

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, as well as on neurons and glial cells in the dorsal root ganglion. Urcosimod has been

shown to produce anti-inflammatory and pain-reducing activities in a mouse model of dry eye disease and in a neuropathic corneal pain

mouse model, respectively. OKYO recently announced positive data on NCP pain reduction in a randomized, placebo-controlled, double-masked

Phase 2a trial involving 18 neuropathic corneal pain subjects. Urcosimod has shown significant pain reduction in an earlier 240 subject

Phase 2, multi-center, double-masked, placebo-controlled trial in DED, which supports the development rationale in NCP.

Pharma Limited (Nasdaq: OKYO) is a clinical-stage biopharmaceutical company developing innovative therapies for the treatment of neuropathic

corneal pain (NCP) and inflammatory eye diseases, with ordinary shares listed for trading on the Nasdaq Capital Market. OKYO is focused

on the discovery and development of novel molecules to treat neuropathic corneal pain and other ocular diseases. OKYO recently completed

a successful phase 2 trial of its flagship drug urcosimod in subjects with NCP and plans to initiate a ~150 subject Phase 2b/3 multiple-dose

study of urcosimod to treat NCP in the first half of this year.

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. These and additional risks and uncertainties are described more fully in the company's filings with the SEC, including

those factors identified as "Risk Factors" in our most recent Annual Report on Form 20-F, for the fiscal year ended March

31, 2025. 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, except as may be required by law.

Spencer, Business Development, and Investor Relations