OBI Ondine Biomedical Inc.

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine", or the "Company")

Update on Private Placement and Placing

Ondine Biomedical Inc. (LON: OBI), a Canadian life sciences company, announces an update to its Private Placement announced on 24 September 2024 and the Fundraising announced on 1 November 2024.

The settlement of the Private Placement with a Canadian private investor has been delayed due to their unavoidable personal circumstances and will require additional time to complete. In light of this, settlement of the Fundraising scheduled for Nov 11 will also be delayed coinciding with the Private Placement settlement. Further updates will be provided in due course.

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About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian life sciences company and leader innovating light-activated antimicrobial therapies (also known as 'photodisinfection'). In addition to Steriwave, Ondine has a pipeline of products, based on its proprietary photodisinfection technology, in various stages of development.

Ondine's nasal photodisinfection system has a CE mark in Europe and the UK and is approved in Canada and several other countries under the name Steriwave^®. In the US, it has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA and is currently undergoing clinical trials for regulatory approval. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns, and other indications.