NHS reimburses the cost of cannabis treatment to the first Zerenia™ Clinics UK patient

• Zerenia™ Clinics UK, wholly owned by Khiron, succeeds at having the NHS reimbursing both the cost of cannabis-based treatment and clinic fees to its first patient
• Khiron trains doctors and nurses at an NHS- funded hospital on how to integrate CBMPs (cannabis-based products for medicinal use in humans) to treatment options
• Khiron will be presenting its new real-world clinical evidence at the upcoming International Congress on Clinical Trials on Cannabis in London (February 15^th-16^th).

TORONTO, Jan. 16, 2023 /PRNewswire/ - Khiron Life Sciences Corp. ("Khiron" or the "Company") (TSXV: KHRN) (OTCQX: KHRNF) (Frankfurt: A2JMZC), continues to spearhead the medical cannabis market in the United Kingdom by successfully attaining, for the first time, full reimbursement by the NHS of costs associated to cannabis-based medication and clinic fees for a patient enrolled in Zerenia™ Clinics UK. The patient was referred to the team at Zerenia™ Clinics UK for assistance with evaluation and advice on cannabis-based treatment options.

This ground-breaking step validates Khiron's scientific and data-driven approach to demonstrate the efficacy, safety and cost-effectiveness of CBMPs on the management of chronic conditions such as pain and anxiety. The Company, who continues to train doctors on the prescription of CBMPs, will be presenting its real-world evidence (RWE) at the upcoming International Congress on Clinical Trials on Cannabis to an international audience of medical doctors in London's Canary Wharf on mid-February.

Franziska Katterbach, President of Khiron Europe, comments: "There is huge demand for medicinal cannabis in the UK. More than 1.4 million British self-medicate illegally with cannabis, half of whom medicate every day, with a total spend on illicit cannabis is an estimated £2.6 billion every year. On top of that, the estimated wait times for NHS specialist consultations range drastically, but in certain areas can be up to nine months. We are prepared to work with the NHS and provide our outstanding clinical resources, medical cannabis products and certified training tools to decrease wait times for patients and ensure access to life changing medication. Having a route for patient reimbursement for cannabis-based medicinal products is an important pillar of our global strategy which we just finally achieved with mandatory reimbursement in Colombia."

Khiron is a leading global medical cannabis company with core operations in Latin America and Europe. Leveraging wholly owned medical health clinics and proprietary telemedicine platforms, Khiron combines a patient-oriented approach, physician education programs, scientific expertise, product innovation, and focus on creating access to drive prescriptions and brand loyalty with patients worldwide. The Company has a sales presence in Colombia, Germany, the United Kingdom, Switzerland, Peru, and Brazil. The Company is led by its co-founder and Chief Executive Officer, Alvaro Torres, together with an experienced and diverse executive team and board of directors.

Visit Khiron online at https://investors.khiron.ca.

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This press release may contain "forward-looking information" within the meaning of applicable securities legislation. All information contained herein that is not historical in nature constitutes forward-looking information. Forward-looking information contained in this news release may include statements pertaining to the expected synergies and benefits to the Company from the acquisition of the Target as well as statements as to business strategy. Forward-looking information and statements contained in this news release reflect management's current beliefs and is based on information currently available and on assumptions that management believes to be reasonable. These assumptions include, but are not limited to, the expected benefits to be realized by Khiron's business as a result of the acquisition of the Target, and assumptions regarding market opportunities in the jurisdictions in which the Company operates and where it seeks to operate.

Although management believes that its expectations and assumptions to be reasonable, forward-looking information is always subject to known and unknown risks, uncertainties, and other factors, many of which are beyond the control of management, that may cause actual results to differ materially from those expressed or implied in such forward-looking information. Such risks and uncertainties include but are not limited to the following: general economic conditions, adverse conditions in capital markets, political uncertainties, counterparty risk, failing to obtain required regulatory requirements and approvals, failure to maintain required permits and licences, business integration risks, as well as those other risk factors discussed in Khiron's most recent annual information form which is available on Khiron's SEDAR profile at www.sedar.com.

As a result of the foregoing and other risks and uncertainties, readers are cautioned not to place undue reliance on forward-looking information contained in this press release. Readers are further cautioned that the foregoing risks and uncertainties is not exhaustive, and there may be other risks and uncertainties, presently unknown to management of the Company, that may cause actual results to differ materially from those expressed or implied in forward-looking statements contained in this press release. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. Khiron disclaims any intention to update or revise any forward-looking information disclosed herein, whether as a result of new information, future events or otherwise, except as required by law.

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SOURCE Khiron Life Sciences Corp.