CDT Conduit Pharmaceuticals Inc

Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (“Conduit” or the “Company”), is pleased to announce the completion of the initial milestones in Phase II of its strategic collaboration with AI and Cybernetics company, Sarborg Limited. Further to the Company’s previous announcement regarding the successful completion of Phase I, this next phase focuses on the prototype development of personalized dashboards, a critical tool designed to provide Conduit’s key personnel with real-time access to data related to deliverables, research and development oversight, and drug discovery.

This pivotal stage delivers a prototype AI product to Conduit’s management team, providing user dashboards and interface mock-ups to enable real-time evaluation of key deliverables. Whilst these dashboards are still in development, they will undergo continuous reassessment and improvement to enhance efficiency and data analysis. The early development of the platform allows for further refinement and enhancements, incorporating management expertise and input to maximize efficiency.

Conduit’s collaboration with Sarborg demonstrates its commitment to addressing longstanding challenges in the pharmaceutical sector, including reducing human error in critical decision-making processes such as clinical development and asset identification. By integrating Sarborg’s algorithmic AI and cybernetics technology, Conduit aims to improve efficiency, lower costs, and accelerate timelines, ultimately optimizing the drug development cycle while maintaining a competitive edge.

Conduit is excited by the unique software progress to-date and remains dedicated to adopting forward-thinking solutions to stay at the forefront of innovation in its industry, reducing reliance on traditional, labour-intensive methods, and harnessing the power of AI-driven technology to maximise clinical decision-making efficiency alongside its Phase II clinical programs in auto-immune disorders.

About Conduit Pharmaceuticals

Conduit is a dynamic, multi-asset clinical stage, life science company delivering an efficient model for compound development. Conduit both acquires and funds the development of Phase 2-ready assets, building an integrated and advanced platform-driven approach powered by artificial intelligence (AI) and cybernetics, and seeking an exit through third-party license deals following successful clinical trials. Led by a highly experienced team of pharmaceutical executives including Dr. David Tapolczay and Dr. Freda Lewis-Hall, this novel approach is a departure from the traditional pharma/biotech business model of taking assets through regulatory approval.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws. All statements other than statements of historical facts contained in this press release, including statements regarding Conduit's future results of operations and financial position, Conduit's business strategy, prospective product candidates, product approvals, research and development costs, timing and likelihood of success, plans and objectives of management for future operations, future results of current and anticipated studies and business endeavors with third parties, and future results of current and anticipated product candidates, are forward-looking statements. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to; the inability to maintain the listing of Conduit's securities on Nasdaq; the ability to recognize the anticipated benefits of the business combination completed in September 2023, which may be affected by, among other things, competition; the ability of the combined company to grow and manage growth economically and hire and retain key employees; the risks that Conduit's product candidates in development fail clinical trials or are not approved by the U.S. Food and Drug Administration or other applicable authorities on a timely basis or at all; changes in applicable laws or regulations; the possibility that Conduit may be adversely affected by other economic, business, and/or competitive factors; and other risks  as identified in filings made by Conduit with the U.S. Securities and Exchange Commission. Moreover, Conduit operates in a very competitive and rapidly changing environment. Because forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified and some of which are beyond Conduit's control, you should not rely on these forward-looking statements as predictions of future events. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and except as required by law, Conduit assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Conduit gives no assurance that it will achieve its expectations.

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