Marvel Biosciences Announces Director Appointment and Resignation

Calgary, Alberta--(Newsfile Corp. - November 24, 2022) - Marvel Biosciences Inc. (TSXV: MRVL) and its wholly owned subsidiary, Marvel Biotechnology Inc. (collectively the "Company" or "Marvel"), is pleased to announce that, effective November 23, 2022, Mr. Babak Pedram has joined its Board of Directors.

Babak Pedram, Director

Mr. Pedram brings a vast degree of business, capital markets and scientific experience to Marvel's Board of Directors. He is a seasoned capital market professional with over 15 years of experience as an investment banker, investor relations, and capital markets advisor to numerous biotech, healthcare and technology companies based in Canada, the United States and Sweden. Mr. Pedram is the founder and president of Virtus Advisory Group, a Toronto-based capital markets advisory firm. He is the co-founder of several successful start-ups, including two publicly traded companies listed on the Toronto Stock Exchange. Mr. Pedram has both Bachelor's and Master's of Science degrees from Queen's University.

Marvel also wishes to announce the resignation of Mr. Jeremy Fehr as a Director of the Company, effective November 23, 2022. Marvel thanks Mr. Fehr for his outstanding service to the Company and wishes him all the best in his future endeavors.

Contact Information

Investor Relations:
Virtus Advisory Group
Tel: 416-644-5081

Email: [email protected]

Marvel Biosciences Corp.
Roderick (Rod) Matheson, Chief Executive Officer or
Dr. Mark Williams, President, and Chief Science Officer
Tel: 403 770 2469

Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.

All information contained in this news release with respect to the Company and its subsidiary, (collectively, the "Parties") were supplied by Marvel, respectively, for inclusion herein and each parties' directors and officers have relied on each other for any information concerning such Party.

This news release may contain forward-looking statements and other statements that are not historical facts. Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects" and similar expressions. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the expectations of the Company and include other risks detailed from time to time in the filings made by the Company under securities regulations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. As a result, the Company cannot guarantee that the above events on the terms will occur and within the time disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.

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