Contineum Therapeutics Announces Appointment of Sarah Boyce to Board of Directors

Contineum Therapeutics, Inc. (NASDAQ:CTNM), a clinical stage biopharmaceutical company focused on discovering and developing novel, oral small molecule therapies that target biological pathways associated with specific clinical impairments for the treatment of neuroscience, inflammation and immunology (NI&I) indications, today announced the appointment of Sarah Boyce, President and Chief Executive Officer of Avidity Biosciences, Inc. (NASDAQ:RNA), as an independent member of its Board of Directors.

Ms. Boyce brings over 25 years of global commercial and clinical development expertise in the life sciences industry to Contineum's board. Ms. Boyce has extensive expertise in global pharmaceutical product development and commercialization, business operations, strategic planning and execution, and has a proven track record of successfully bringing over 20 products to market and scaling companies.

"We have assembled a world-class team of scientific and business leaders on our board, and I am delighted to continue these efforts with the addition of Sarah Boyce to Contineum's Board of Directors," said Carmine Stengone, President and Chief Executive Officer of Contineum. "Sarah's appointment brings a tremendous wealth of knowledge in translating innovation into products, including in rare diseases, and we look forward to her guidance as we seek to advance our NI&I pipeline toward patients."

Currently, Ms. Boyce serves as President and Chief Executive Officer and as a member of the Board of Directors of Avidity Biosciences, Inc. (NASDAQ:RNA). Prior to joining Avidity, Ms. Boyce served as a Director and President of Akcea Therapeutics, Inc. (NASDAQ:AKCA), and as Chief Business Officer at Ionis Pharmaceuticals, Inc. (NASDAQ:IONS), where she was responsible for business development, alliance management, patient advocacy and investor relations. Before Ionis, Ms. Boyce served as Vice President, Head of International Business Strategy and Operations at Forest Laboratories, Inc., and held various positions of increasing responsibility with Alexion Pharmaceuticals Inc., Novartis Group AG (NYSE:NVS), Bayer AG and F. Hoffmann-La Roche AG. Ms. Boyce also previously served on the Board of Directors of Berkeley Lights Inc. (NASDAQ:BLI) and currently serves on the board of directors of OmniAb, Inc. Ms. Boyce received a B.S. degree in microbiology from the University of Manchester, England.

"Contineum has a clear focus on seeking to address the significant unmet needs of patients with serious fibrotic and neurological disorders. I am excited about Contineum's science and development programs and I believe Contineum has a very bright future," added Sarah Boyce. "I am excited to join the board and to help Contineum navigate its next stages of growth."

About Contineum Therapeutics

Contineum Therapeutics (NASDAQ:CTNM) is a clinical stage biopharmaceutical company focused on discovering and developing novel, oral small molecule therapies for NI&I indications with high unmet need. Contineum is focused on targeting biological pathways associated with specific clinical impairments, that Contineum believes, once modulated, may demonstrably impact the course of disease. Contineum has a pipeline of internally-developed programs to address multiple NI&I disorders. PIPE-791 is an LPA1 receptor antagonist which recently completed a Phase 1 healthy volunteer clinical trial to support ongoing clinical development for idiopathic pulmonary fibrosis and progressive multiple sclerosis (MS). PIPE-307, a selective inhibitor of the M1 receptor, is currently in a Phase 2 clinical trial for relapse remitting MS, and a Phase 2 trial in depression is planned to initiate in 2024. Contineum is developing PIPE-307 in collaboration with Johnson & Johnson Innovative Medicines.

Contineum is headquartered in San Diego, CA. For more information, please visit www.contineum-tx.com

Forward-Looking Statements

Certain statements contained in this press release, other than historical information, constitute forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company's plans for and the anticipated benefits of its drug candidates, including PIPE-791 and PIPE-307, the benefits and value added by the new director, the timing, objectives and results of the clinical trials, and the quotations of Contineum's management and board members. These statements involve known and unknown risks, uncertainties and other important factors that are in some cases beyond the Company's control and may cause its actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties, include, but are not limited to, the following: the Company is heavily dependent on the success of PIPE-791 and PIPE-307, both of which are in the early stages of clinical development, and neither of these drug candidates may progress through clinical development or receive regulatory approval; the results of earlier preclinical studies and clinical trials, including those conducted by third parties, may not be predictive of future results; the Company has incurred significant operating expenses since inception and it expects that its operating expenses will continue to significantly increase for the foreseeable future; the Company's license agreement with an affiliate of Johnson & Johnson may not result in the successful development of PIPE-307; and the Company may be unable to obtain, maintain and enforce intellectual property protection for its technology and drug candidates. Additional risks and uncertainties that could affect the Company's business, operations and results are included under the captions, "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in its most recent filing on Form 10-Q and in other filings that it makes with the SEC from time to time. These documents are available on the Company's website at www.contineum-tx.com under the Investor section and on the SEC's website at www.sec.gov. Accordingly, readers should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, the Company undertakes no obligation to update publicly or revise any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise.

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