Accomplished Clinical Researcher Matthew Macaluso Joins as Scientific and Clinical Advisor for PharmaTher’s Ketamine Programs

TORONTO, May 20, 2021 -- PharmaTher Holdings Ltd. (the “Company” or “PharmaTher”) (CSE: PHRM) (OTCQB: PHRRF), a psychedelics biotech company, is pleased to announce the appointment of Professor Matthew Macaluso, D.O. as a scientific and clinical advisor for PharmaTher’s clinical research programs involving ketamine as a potential treatment for major depressive disorders and amyotrophic lateral sclerosis (“ALS” or “Lou Gehrig’s Disease”).

Matthew Macaluso, D.O. is an academic psychiatrist with over ten years of extensive clinical trial research experience involving novel drugs to treat those patients with refractory and often severe forms of depression that are not responsive to currently marketed drugs. He is the Bee McWane Reid Professor for the Department of Psychiatry and Behavioral Neurobiology in the School of Medicine at The University of Alabama at Birmingham (“UAB”). Professor Macaluso is also the Clinical Director of the UAB Depression and Suicide Center. He has been principal investigator on over 60 trials of novel investigational medications with a focus on treatment resistant major depression, including studies involving ketamine and esketamine.

Fabio Chianelli, CEO of PharmaTher commented: “We are excited to have Matt join us as a scientific and clinical advisor. Matt has extensive experience in conducting clinical studies involving depression, including being a principal investigator of clinical studies involving esketamine which led to an FDA approval. He is also a co-inventor for the novel use of ketamine as a potential treatment for ALS. We look forward to his contributions in guiding us in our clinical development initiatives with ketamine in various neuropsychiatric and neurodegenerative diseases that we are pursuing.”

Professor Macaluso commented: “It is well known in the literature and clinical practice that ketamine has tremendous potential in various CNS and neurological disorders. I am intrigued by PharmaTher’s passion in pursuing ketamine in clinical trials that could offer hope to those who require a safe and effective treatment option that will ultimately improve their quality of life. I look forward to guiding PharmaTher’s clinical strategy and advancing their clinical programs with the intent to obtain regulatory approvals.”

About PharmaTher Holdings Ltd.

PharmaTher Holdings Ltd. (CSE: PHRM) (OTCQB: PHRRF) is a psychedelics biotech company focused on the research, development and commercialization of ketamine and novel microneedle patches for the delivery of psychedelics to treat mental illness, neurological and pain disorders.

Learn more at: PharmaTher.com and follow us on Twitter and LinkedIn.

For more information about PharmaTher, please contact:

Fabio Chianelli
Chief Executive Officer
PharmaTher Holdings Ltd.
Tel: 1-888-846-3171
Email: info@pharmather.com
Website: www.pharmather.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.

Cautionary Statement

This press release contains 'forward-looking information' within the meaning of applicable Canadian securities legislation. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "potential", "aim" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on PharmaTher Holdings Ltd. (the "Company") current belief or assumptions as to the outcome and timing of such future events. Forward-looking information is based on reasonable assumptions that have been made by the Company at the date of the information and is subject to known and unknown risks, uncertainties, and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking information. Given these risks, uncertainties and assumptions, you should not unduly rely on these forward-looking statements. The forward-looking information contained in this press release is made as of the date hereof, and Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The foregoing statements expressly qualify any forward-looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in Company's management's discussion and analysis for the period of February 28, 2021 ("MD&A"), dated April 28, 2021, which is available on the Company's profile at www.sedar.com.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.