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SATELLOS Announces Grant of Stock Options

June 1, 2023

Satellos Bioscience Announces Grant of Stock Options

Toronto, Ontario — (Newsfile Corp. – June 1, 2023) – Satellos Bioscience Inc. (TSXV: MSCL) (“Satellos” or
the “Company”), a regenerative medicine company aimed at developing therapeutics that change the
way degenerative muscle diseases are treated, today announced that its board of directors (the “Board”)
has approved grants of stock options (the “Stock Options”) pursuant to the terms of the Company’s Stock
Option Plan. A total of 5,732,797 Stock Options have been awarded to directors, officers, employees and
consultants of the Company. The Stock Options are exercisable at a price of $0.60 per share for a period
of 10 years from the date of the grant.
About Satellos Bioscience Inc.
Satellos is a publicly traded biotechnology company dedicated to developing life-improving medicines
to treat degenerative muscle diseases. Satellos has incorporated breakthrough research in muscle stem
cell polarity into a proprietary discovery platform, called MyoReGenXTM, to identify degenerative muscle
diseases where deficits in this process affect muscle regeneration and are amenable to therapeutic
intervention. With this platform, Satellos is building a pipeline of novel therapeutics to correct muscle
stem cell polarity and promote the body’s innate muscle repair and regeneration process. The

Company’s lead program is an oral, small molecule drug candidate in development as a disease-
modifying treatment for Duchenne muscular dystrophy. Satellos is headquartered in Toronto, Ontario.

For more information, visit
Business Development
Ryan Mitchell, Ph.D.
Communications at Satellos Bioscience Inc.
Christina Cameron
For Media
Jessica Yingling, Ph.D.
Notice on forward-looking statements:
This press release includes forward-looking information or forward-looking statements within the
meaning of applicable securities laws regarding Satellos and its business, which may include, but are not
limited to Satellos’ technologies and drug development plans. All statements that are, or information
which is, not historical facts, including without limitation, statements regarding future estimates, plans,
programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance,

are “forward-looking information or statements”. Often but not always, forward-looking information or
statements can be identified by the use of words such as “shall”, “intends”, “anticipate”, “believe”, “plan”,
“expect”, “intend”, “estimate” “anticipate” or any variations (including negative variations) of such words
and phrases, or state that certain actions, events or results “may”, “might”, “can”, “could”, “would” or
“will” be taken, occur, lead to, result in, or, be achieved. Such statements are based on the current
expectations and views of future events of the management of the Company. They are based on
assumptions and subject to risks and uncertainties. Although management believes that the assumptions
underlying these statements are reasonable, they may prove to be incorrect. The forward-looking events
and circumstances discussed in this release, may not occur and could differ materially as a result of known
and unknown risk factors and uncertainties affecting the Company, including, without limitation, those
listed in the “Risk Factors” section of the Prospectus dated May 9, 2023 and the Annual Information Form
dated April 27, 2023 (both of which are on the Company’s profile at Although Satellos
has attempted to identify important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be other factors that cause
actions, events or results to differ from those anticipated, estimated or intended. Accordingly, readers
should not place undue reliance on any forward-looking statements or information. No forward-looking
statement can be guaranteed. Except as required by applicable securities laws, forward-looking
statements speak only as of the date on which they are made and Satellos does not undertake any
obligation to publicly update or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise.
No regulatory authority has approved or disapproved the content of this press release. Neither the TSX
Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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