Oslo, Norway, 3 November 2025 - Zelluna (OSE: ZLNA), a company pioneering
allogeneic "off-the-shelf" T-cell receptor-based natural killer (TCR-NK)
therapies for the treatment of cancer, announces its third quarter 2025 results
today.
Webcast scheduled for 4 November 2025, at 09:00 (CET). Link to webcast here
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251104_10).
Third Quarter 2025 Business Update
Highlights
* Positive MHRA feedback and strengthened clinical strategy supporting UK
clinical development
In October 2025 (post period announcement), Zelluna announced it had received
positive scientific advice from the United Kingdom's Medicines and Healthcare
products Regulatory Agency (MHRA). The feedback provided alignment across the
preclinical, manufacturing, clinical, and regulatory strategy for ZI-MA4-1 and
supports the planned Clinical Trial Application (CTA) submission later this
year, with patient data planned for mid 2026.
* Preparations for first-in-human trial progressing
The Company has advanced preparations for its first-in-human trial of ZI-MA4-1
through engagement with leading UK cancer centres. Professor Fiona
Thistlethwaite (The Christie, Manchester) has been appointed as proposed Chief
Investigator, with The Christie serving as lead site. Together with Dr. Andrew
Furness at The Royal Marsden Hospital, London, both globally recognised leaders
in oncology and early-phase cell therapy, Zelluna has shaped a robust trial
design and development strategy for ZI-MA4-1.
* GMP manufacturing of clinical material initiated
In July 2025, Zelluna initiated GMP manufacturing of the clinical batch for the
planned Phase I trial. This milestone builds on the previously completed
manufacturing process lock-down announced in April 2025 and marks a major step
in Zelluna's clinical readiness and capability to deliver off-the-shelf cell
therapies to patients (also shared in the Q2 2025 report).
* Pipeline expansion through strategic acquisition
During Q3, Zelluna acquired a portfolio of characterised TCRs targeting KKLC1
from a highly experienced TCR-focused biotechnology company with decades of
expertise in the field. KKLC1 is a clinically validated cancer antigen that
complements MAGE-A4, offering a potential opportunity to broaden Zelluna's TCR-
NK pipeline and expand its reach to additional patient populations.
Financial highlights
* Total operating expenses amounted to MNOK 39.7 in Q3 2025, and MNOK 101.0
YTD. Total loss was MNOK 39.3 for the period and MNOK 98.7 YTD.
* Net negative cash flow from operations was MNOK 29.0 in Q3 2025, and net
decrease in cash and cash equivalents, excluding currency effects, was MNOK
28.9 during Q3 2025. Cash and cash equivalents amounted to MNOK 47.2 as per
30 September 2025.
* The current cash is as previously reported expected to give a financial
runway into Q2 2026.
The quarterly report and presentation will be made be publicly available on the
Zelluna website. The Company will conduct a webcast on 4 November at 09:00 CET,
and questions can be submitted throughout the event. The webcast will be
archived for replay following the conference call. Link to webcast here
(https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20251104_10).
For further information, please see www.zelluna.com or contact:
Namir Hassan, CEO, Zelluna ASA
Email: namir.hassan@zelluna.com
(https://www.globenewswire.com/Tracker?data=Z8lLmV-
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Phone: +44 7720 687608
Hans Vassgård Eid, CFO, Zelluna ASA
Email: hans.eid@zelluna.com
(https://www.globenewswire.com/Tracker?data=xw_BegYpiBk6hexlBFgOsk7tj2DC2GZ9wD-
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Phone: +47 482 48632
About Zelluna ASA
Zelluna's mission is to deliver transformative treatments with the capacity to
cure advanced solid cancers, in a safe and cost-efficient manner, to patients on
a global scale. The Company aims to do this by combining the most powerful
elements of the immune system through pioneering the development of "off-the-
shelf" T-cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK).
The TCR-NK platform offers a unique mechanism of action with broad cancer
detection capability to overcome the diversity of tumours and will be used "off-
the-shelf" to overcome scaling limitations of current cell therapies. The lead
programme is a world's first MAGE-A4 targeting "off-the-shelf" TCR-NK for the
treatment of various solid cancers; a pipeline of earlier products follows. The
Company is led by a management team of biotech entrepreneurs with deep
experience in discovery through clinical development of TCR and cell-based
therapies including marketed products.
For more information, please visit www.zelluna.com
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This stock exchange announcement was published by Joachim Midttun, Financial
Manager at Zelluna ASA, on 3 November 2025 at 16:38 CET.