Zelluna ASA: Second Quarter 2026 results

Oslo, 20 August 2026 - Zelluna (OSE: ZLNA), a clinical-stage company pioneering allogeneic "off-the-shelf" T Cell Receptor-based Natural Killer (TCR-NK) cell therapies for the treatment of solid cancers, today presents its results for the second quarter 2026.

Webcast scheduled for 20 August 2026 at 09:00 (CEST). Link to webcast here (https://qcnl.tv/p/kFAzoaYWzbBdJVu731qoCQ).

Operational Highlights:

* First patient dosed with ZI-MA4-1: On 13 July 2026, Zelluna announced the dosing of the first patient in the Phase 1 ZIMA-101 study, marking the first clinical evaluation of the Company's proprietary TCR-NK platform. ZI-MA4-1 is the world's first MAGE-A4-targeting TCR-NK therapy to enter clinical testing. Patient recruitment is ongoing at two clinical sites in the UK. * Favourable initial safety observations support continued enrolment: On 17 August 2026, the Independent Data Monitoring Committee (IDMC) completed its planned safety review of the first patient. ZI-MA4-1 was well tolerated during the protocol-defined safety observation period, with no dose-limiting toxicities observed. The IDMC recommended recruitment of the remaining two patients at Dose Level 1. These observations represent the first clinical data from ZIMA-101.

* The Royal Marsden activated as second clinical site: On 29 June 2026, Zelluna announced that The Royal Marsden NHS Foundation Trust had been activated as the second clinical site in the ZIMA-101 Phase 1 clinical trial. Together with The Christie NHS Foundation Trust, the two sites provide a strong clinical foundation for patient recruitment and execution of the ZIMA-101 study.

* Private placement and retail offering successfully completed: In June 2026, Zelluna successfully completed a private placement and retail offering, raising gross proceeds of approximately NOK 58.2 million through the issuance of 3,143,958 new shares at a subscription price of NOK 18.50 per share. The financing strengthens Zelluna's position as the Company approaches initial clinical data, supports the continued execution of the ZIMA-101 clinical trial, and enhances financial flexibility to pursue future strategic opportunities. * NOK 16 million grant awarded by the Research Council of Norway: In June 2026, the Research Council of Norway approved a NOK 16 million grant to Zelluna under the Innovation Project for the Industrial Sector (IPN) scheme. The funding will support the ongoing Phase 1 ZIMA-101 clinical study. * ZIMA-101 to be presented at ESMO 2026: In July 2026, an abstract describing the ongoing ZIMA-101 Phase 1 study of ZI-MA4-1 was accepted for poster presentation at the ESMO Congress 2026 in Madrid on 23-27 October 2026. The poster will be presented by Professor Fiona Thistlethwaite, Chief Investigator of the study at The Christie NHS Foundation Trust. * Notice of EGM - election of new Board member: On 17 August 2026, the Board called for an Extraordinary General Meeting regarding election of a new member of the Board. The Nomination Committee has proposed Martin Welschof for election as a new member of the Board, whilst Hans Ivar Robinson, who has served on the Board since its foundation, has decided to step down from the Board in line with Birk Venture's approach of transitioning out of board positions within a reasonable period following a listing.

Financial Highlights Q2 2026:

* Total operating expenses: MNOK 19.9 in Q2 2026 and MNOK 40.2 YTD * Total loss: MNOK 19.7 in Q2 2026 and MNOK 40.1 YTD * Cash and cash equivalents: MNOK 86.2 as of 30 June 2026

* Financial runway: Into Q3 2027

"The second quarter and the period immediately following it have been defining for Zelluna. We set out to establish the clinical infrastructure for ZIMA-101, bring ZI-MA4-1 into the clinic and begin generating the first clinical data from our TCR-NK platform, and we have delivered on those objectives.

The first patient has now been treated, and we have reported favourable initial safety observations, with the independent monitoring committee recommending continued enrolment. I am incredibly proud of what our team has achieved. Our focus now is on continuing to execute ZIMA-101, generating the clinical data that will begin to define the potential of our TCR-NK platform, and continuing to build the pipeline that can extend that potential beyond ZI-MA4-1," says CEO Namir Hassan.

Outlook

Zelluna enters the second half of 2026 with strong momentum following the initiation of the ZIMA-101 first-in-human Phase 1 study and the Independent Data Monitoring Committee's recommendation to continue enrolment after its review of the first patient's safety data. With both clinical sites now activated, patient recruitment is ongoing and ZIMA-101 is progressing as planned. In parallel, Zelluna continues to strengthen its manufacturing capabilities to support the future development of ZI-MA4-1 and the broader TCR-NK platform. The Company remains focused on disciplined execution and the generation of high-quality clinical data to advance ZI-MA4-1 and its broader TCR-NK platform. Zelluna's cash position is expected to fund planned operations into the third quarter of 2027, providing a solid foundation to execute its strategy and pursue future value-creating opportunities.

The quarterly report and presentation materials will be made publicly available on the Zelluna website at 07:00 CEST on 20 August 2026. The Company will host a webcast (https://qcnl.tv/p/kFAzoaYWzbBdJVu731qoCQ) on 20 August at 09:00 CEST, and questions can be submitted during the event. The webcast recording will remain available on the Company's website after the event.

For further information, please visit www.zelluna.com or contact:

Namir Hassan, CEO Email: namir.hassan@zelluna.com Phone: +44 7720 687608

Geir Christian Melen, CFO Email: geir.christian.melen@zelluna.com Phone: +47 913 02 965

About Zelluna ASA

Zelluna ASA (OSE: ZLNA) is a clinical-stage company pioneering allogeneic "off- the-shelf" T Cell Receptor-based Natural Killer (TCR-NK) cell therapies for the treatment of solid cancers. The Company's technology combines the natural tumour-killing ability of NK cells with precision targeting of solid tumours enabled by affinity-engineered T cell receptors (TCRs). The goal is to create effective, scalable and accessible treatments for patients with solid tumours - a patient population with significant unmet medical need. Zelluna is listed on the Oslo Stock Exchange under the ticker ZLNA and is headquartered at the Oslo Cancer Cluster Innovation Park in Oslo, Norway.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation.

More information: Access the news on Oslo Bors NewsWeb site

680247_Zelluna-ASA-Q226-Report.pdf 680247_Zelluna-ASA-Q226-Presentation.pdf