Toronto, Canada, May 2, 2022 – Zucara Therapeutics Inc., a diabetes life sciences company developing the first once-daily therapeutic to prevent insulin-induced hypoglycemia (low blood glucose levels), today announced that it has received second grants from each of GlycoNet and Mitacs to support the development of ZT-01 for the treatment of insulin-induced hypoglycemia in people with Type 2 diabetes (“T2D”).

“We are grateful for GlycoNet’s and Mitacs’s continued support in the development of ZT-01 for T2D, which provides the opportunity to address insulin-induced hypoglycemia in a much larger patient population,” said Dr. Michael Riddell, Professor at York University’s School of Kinesiology and Health Sciences, and Chair of Zucara Therapeutics’ Clinical Advisory Board. “GlycoNet’s and Mitacs’s first grants, announced in July 2019 and November 2020, respectively, enabled us to extend our preclinical model of hypoglycemia in Type 1 diabetes to T2D and progress the program to where it is today. These second grants further support our preclinical efficacy studies which, if successful, will enable us to advance ZT-01 into clinical development in the T2D indication.”

ZT-01 is currently in a Phase 1b proof-of-concept trial assessing the pharmacodynamics of treatment of insulin-induced hypoglycemia in people with Type 1 diabetes, with results anticipated in Q2 2022.

Elizabeth Nanak, CEO, GlycoNet, commented, “We are pleased to support Zucara’s development of a treatment to improve the life of people with T2D, in hopes that it could become the first therapeutic to prevent hypoglycemic episodes before they occur. GlycoNet is proud to work with companies like Zucara to translate innovative glycomics research into solutions to pressing health issues, right here in Canada.”

On April 20, 2022, GlycoNet and its partners announced a total of $7.7 million in funding to 13 glycomics projects across Canada. More information on the project, entitled “Elucidating the role of somatostatin in dysglycemia in a rodent model of type 2 diabetes,” can be found here. The project was granted nearly $150,000, which Zucara will more than double match to fund its preclinical efficacy study of ZT-01 for T2D.

Mitacs has awarded Zucara and York University a $60,000 Accelerate Fellowship grant, which will fund the work of PhD student Ninoschka D’Souza on Zucara’s preclinical efficacy studies.

About GlycoNet

GlycoNet is advancing research, innovation and training in glycomics to improve the quality of life of Canadians. GlycoNet is a one-stop global destination focused on developing new carbohydrate-based drugs, vaccines and diagnostics, in collaboration with academic and industry organizations to address areas of unmet need through applied glycomics research. Funded by the federal Networks of Centres of Excellence (NCE) program and a range of partners, the network includes over 175 researchers across Canada who focus on cancer, chronic diseases, infectious diseases and neurodegenerative diseases. This national platform supports translational research, protection of intellectual property, novel drug development, company formation and training. Learn more about us at glyconet.ca.

About Mitacs

Mitacs is a not-for-profit organization that fosters growth and innovation in Canada. As a catalyzing force in the Canadian innovation ecosystem, we build a world-class, diverse community of innovators through our collaborative model, attracting and deploying top talent to industry, and matching need with expertise to create ambitious solutions to real-world challenges. To learn more about how Mitacs can help unleash your innovation potential, visit mitacs.ca.

About Zucara Therapeutics Inc.

Zucara Therapeutics is developing ZT-01, a first-in-class therapeutic to prevent insulin-induced hypoglycemia in patients using insulin therapy. ZT-01 is designed to inhibit somatostatin, a pancreatic hormone that impairs the glucagon response to hypoglycemia in people with insulin-dependent diabetes. ZT-01 restores glucagon secretion to prevent hypoglycemia, which could dramatically change diabetes disease management and improve both patient health and quality of life. For more information, visit www.zucara.ca.

For additional information, please contact:

Zucara Therapeutics: Michael Midmer, mmidmer@zucara.ca