OKYO Pharma to Release New and Comprehensive Data from Phase 2 Dry Eye Disease Trial and Host Key Opinion Leader Event -Phase 2 OK-101 efficacy data to be released

Pharma to Release New and Comprehensive Data from Phase 2 Dry Eye Disease Trial and Host Key Opinion Leader Event

2 OK-101 efficacy data to be released March 22, 2024-

and New York, NY, March 20, 2024 - OKYO Pharma Limited (NASDAQ: OKYO), a clinical-stage biopharmaceutical

company developing innovative ocular therapies for the treatment of inflammatory dry eye disease (DED), amulti-billion-dollar market,

and anterior ocular segment diseases including neuropathic corneal pain (NCP), an ocular condition associated with pain but without an

FDA approved therapy, announces that it will be releasing new and comprehensive efficacy data readout from the Phase 2 trial of

OK-101 in dry eye disease on March 22, 2024. The company will also host a Key Opinion Leader (KOL) event to discuss the findings in depth.

a previous preliminary data readout, OK-101 showed statistically significant drug effects in FDA-recognized efficacy endpoints as early

as the 15-day first visit after dosing. Additionally, statistically significant improvements were observed in both a "sign"

(total conjunctival staining) and two "symptoms" (burning/stinging and blurred vision), which are FDA-recognized endpoints

KOL call will feature prominent experts in the field of dry eye disease. The speakers will provide insights regarding the clinical significance

of the OK-101 Phase 2 findings and discuss the potential implications for patient care and future research endeavors in DED.

upcoming data release follows the successful completion of OKYO Pharma's Phase 2 trial, which focused on assessing the efficacy

and safety of OK-101, our novel topical therapeutic candidate for dry eye disease," said Gary S. Jacob, Ph.D., CEO of OKYO Pharma.

"We plan to advance OK-101 into Phase 3 clinical trials in 2024, with the goal of developing a highly differentiated dry eye product

to help patients underserved by current treatments. Our parallel development focus for OK-101 in 2024 is the evaluation of this drug

candidate to treat neuropathic corneal pain for which we have already received IND clearance to begin clinical studies."

Phase 2 Trial in DED Patients

double-masked, randomized, placebo-controlled Phase 2 trial was conducted at six sites in the U.S. and enrolled 240 subjects with DED

dosed twice-daily (BID). Patients were randomly divided into 3 cohorts, with one of the cohorts dosed with 0.05% OK-101 (n=81), a second

with 0.1% OK-101 (n=80), and the third cohort with vehicle (n=79). The duration of a patient's treatment was 14 weeks, including

a 2-week run-in period on placebo, to exclude placebo responders from the study, followed by 12 weeks in the randomized portion of the

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 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 efficacy

signals in mouse models of dry eye disease and corneal neuropathic pain (NCP), respectively, and is designed to combat washout through

the inclusion of the lipid anchor built into the drug molecule to enhance the residence time of OK-101 within the ocular environment.

OK-101 recently showed statistical significance in multiple endpoints in a recently completed Phase 2, multi-center, double-blind, placebo-controlled

trial of OK-101 to treat DED.

Pharma Limited (NASDAQ: OKYO) is a clinical stage biopharmaceutical company developing innovative therapies for the treatment of DED

and NCP, with ordinary shares listed for trading on the NASDAQ Capital Market. OKYO is focused on the discovery and development of novel

molecules to treat inflammatory DED and ocular pain. In addition to the recently completed Phase 2 DED trial, OKYO also has plans underway

for the opening of a Phase 2 trial for OK-101 to treat NCP in patients with this debilitating condition. For further information, please

visit www.okyopharma.com.

statements made in this announcement are forward-looking statements, including with respect to the anticipated timing of completion of

enrolment of the Company's Phase 2 trial of topical ocular OK-101 to treat DED and the release of top-line data therefrom. 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.