Onco-Innovations Enters into LOI with Ifowonco for Exclusive Option and Worldwide Licence to LAG-3 Small-Molecule Inhibitor Program

Calgary, Canada – August 19, 2026 – Onco-Innovations Limited (CBOE CA: ONCO) (OTCQB: ONNVF) (Frankfurt: W1H, WKN: A3EKSZ) ("Onco" or the "Company”) is pleased to announce that it has entered into a non-binding Letter of Intent (“LOI”) with Ifowonco Informatics Incorporated (“Ifowonco”) as an initial step toward negotiating a definitive agreement that would, if completed, grant Onco an exclusive option relating to Ifowonco’s proprietary small-molecule inhibitor program targeting lymphocyte-activation gene 3 (“LAG-3”) (the “LAG-3 Program”).

The proposed collaboration is intended to combine Ifowonco's novel oral small-molecule immune checkpoint technology with Onco-Innovations' expertise in DNA damage response (DDR) therapeutics, translational oncology and clinical development. The companies believe the combination of DDR inhibition and LAG-3 blockade could achieve a scientifically compelling strategy with the potential to enhance anti-tumour immune responses across multiple solid tumour indications.

LAG-3 is an immune checkpoint protein involved in regulating T-cell[1] activation. Ifowonco is developing small-molecule compounds intended to inhibit LAG-3 and potentially restore immune activity against cancer cells. The proposed collaboration is aimed at providing a framework for evaluating the LAG-3 Program independently and, where supported by preclinical findings, exploring its potential use alongside DNA damage response-based therapeutic approaches.

"Our objective has always been to build a differentiated oncology pipeline by combining innovative science with strategic partnerships. Ifowonco has developed a promising oral small-molecule LAG-3 inhibitor platform that we believe could complement our ONC010 DNA damage response program. We are excited to begin working toward a definitive agreement that could position Onco-Innovations at the intersection of precision oncology and next-generation cancer immunotherapy," said Thomas O'Shaughnessy, Chief Executive Officer of Onco-Innovations.

Unlike currently approved LAG-3 therapies, which are monoclonal antibodies administered intravenously, Ifowonco's program is focused on developing orally available small-molecule inhibitors, offering the potential for greater patient convenience, flexible dosing, and combination therapy opportunities. The companies believe that combining LAG-3 inhibition with ONC010's DNA damage response mechanism may provide a synergistic therapeutic approach.

"DNA damage response inhibition and immune checkpoint blockade are increasingly recognized as complementary therapeutic strategies. The scientific rationale supporting the evaluation of ONC010 with LAG-3 blockade is compelling and aligns with our long-term vision of developing innovative combination therapies that may improve outcomes for patients with difficult-to-treat cancers," said Dr. Islam Mohamed, Chief Medical Officer of Onco-Innovations.

About Onco-Innovations Limited

Onco-Innovations is a Canadian-based company dedicated to cancer research and treatment, specializing in oncology. Onco’s mission is to pursue the prevention and treatment of cancer through pioneering research and innovative solutions. The Company holds an exclusive worldwide licence to patented technology directed to the therapeutic inhibition of PNKP, a novel clinical target in DNA damage response.

ON BEHALF OF ONCO-INNOVATIONS LIMITED,

“Thomas O’Shaughnessy”

Chief Executive Officer

For more information, please contact:

Thomas O’Shaughnessy
Chief Executive Officer

Tel: + 1 888 261 8055

Email: investors@oncoinnovations.com
Website: oncoinnovations.com

Forward-Looking Statements Caution.  This news release contains forward-looking information and forward-looking statements within the meaning of applicable Canadian securities laws (collectively, "forward-looking information"). Forward-looking information in this news release includes, but is not limited to, statements regarding the LOI with Ifowonco, the negotiation and potential completion of a definitive option and exclusive licence agreement, the proposed grant of an exclusive option and potential worldwide licence to the Program IP, the expected scope and potential benefits of the proposed collaboration, the development, evaluation and potential applications of Ifowonco's LAG-3 small-molecule inhibitor program, the potential use of the LAG-3 Program alongside the Company's DNA damage response-based therapeutic approaches, the potential convenience, dosing flexibility, combination therapy opportunities, therapeutic effects, synergies or clinical utility of orally available LAG-3 inhibitors or LAG-3 blockade, the Company's research, development, preclinical, clinical, regulatory, business and commercialization plans, and the Company's expectations regarding the development of its oncology pipeline and strategic partnerships. Forward-looking information is often identified by words such as "may", "will", "could", "would", "should", "potential", "intend", "expect", "anticipate", "believe", "plan", "estimate", "target" and similar expressions, and includes statements that are not historical facts. 

The forward-looking information in this news release is based on a number of assumptions that management considers reasonable as of the date hereof, including, without limitation, assumptions regarding the parties' ability to negotiate and enter into a definitive agreement on acceptable terms, the satisfaction of any conditions to the proposed transaction, the accuracy and completeness of information provided to the Company regarding the LAG-3 Program and Program IP, the validity, scope and enforceability of intellectual property rights relating to the LAG-3 Program, the scientific rationale for evaluating LAG-3 inhibition independently or in combination with DNA damage response-based approaches, the availability of personnel, technical resources, financing, laboratory capacity and third-party services required to conduct research and development activities, the receipt of any required regulatory, corporate, exchange or third-party approvals, and the Company's ability to execute its business and development plans. These assumptions may prove to be incorrect. 

Although the Company believes that the expectations reflected in such forward-looking information are reasonable, forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such information. Such risks and uncertainties include, among others, the risk that the LOI may not result in a definitive agreement or completed transaction, that any definitive agreement may be delayed or may contain terms different from those currently contemplated, that the Company may not obtain or maintain the rights necessary to advance the LAG-3 Program, that intellectual property or data relating to the LAG-3 Program may be incomplete, inaccurate, challenged or insufficient for the Company's purposes, that preclinical or other research results may not support further development or may not be reproducible, that the proposed collaboration may not produce the expected scientific, technical, commercial or strategic benefits, that LAG-3 small-molecule inhibitors or combination approaches may not demonstrate safety, efficacy, tolerability, manufacturability, scalability, regulatory acceptability or commercial viability, that development timelines and costs may exceed current expectations, that required approvals, permits, financing, personnel, facilities, suppliers or collaborators may not be available when required or on acceptable terms, that the Company may be unable to maintain existing contractual, licence, commercial or strategic relationships, and risks arising from competition, changes in market conditions, changes in laws or regulatory requirements, general economic conditions and the other risks described in the Company's public disclosure record. 

Readers are cautioned not to place undue reliance on forward-looking information. There can be no assurance that any forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. The forward-looking information contained in this news release is made as of the date of this news release and is expressly qualified by this cautionary statement. Except as required by applicable law, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. 

[1] T cells (also called T lymphocytes) are a type of white blood cell that forms part of the immune system. They help the body fight infection and can help recognize and fight cancer cells. Source: National Cancer Institute, NCI Dictionary of Cancer Terms – “T cell.”