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Amphista Therapeutics announces achievement of a research milestone in its collaboration with Merck triggering a milestone payment

1. Amphista achieves a discovery milestone in collaboration with Merck. 2. The milestone involves financial payment but target details remain undisclosed. 3. Collaboration focuses on advancing Targeted Glue™ therapies for oncology. 4. Merck has exclusive rights for further development of the resulting medicines. 5. The Eclipsys® platform enhances the design of bioavailable protein degraders.

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Why Bullish?

Merck's collaboration with Amphista enhances its oncology pipeline, potentially boosting future revenues. Historical collaborations in biotech often lead to successful drug development, increasing market confidence.

How important is it?

The collaboration supports Merck's ambitions in oncology, aligning with major therapeutic trends and potentially driving stock performance.

Why Long Term?

Successful drug development timelines typically extend over several years; the impact will manifest as new products gain market approval and increase revenues long-term.

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Collaboration focuses on the discovery of novel, non-CRBN/VHL, Targeted Glue™ degraders for oncology and immunology indications Cambridge, UK, 16 July 2025 – Amphista Therapeutics (“the Company” or “Amphista”), a leader in the discovery of next-generation, Targeted Protein Degradation (TPD) medicines, today announces the successful achievement of a discovery research milestone under its exclusive research collaboration and licence agreement with Merck. In conjunction with the milestone achievement, Amphista receives a pre-specified financial payment. The associated target on which the milestone is triggered is currently undisclosed. “As we continue to build our portfolio of first- and/or best-in-class Targeted Glues™, we are delighted to have reached an important milestone in our collaboration with Merck. The progress we have made together speaks to the effective partnership between scientists from both companies, enabling us to focus on advancing high-quality compounds for further development,” said Antony Mattessich, Chief Executive Officer at Amphista. “This achievement reinforces the exceptional capabilities of our Eclipsys® platform in the rational design of orally bioavailable protein degraders, bringing us a step closer to improving patient outcomes.” Under the agreement, Amphista is responsible for the discovery and early development of small molecule protein degraders using its Eclipsys® platform. Merck is granted a global exclusive license to the resulting degrader molecules and will be responsible for further development and commercialisation activities. About Amphista Therapeutics At Amphista Therapeutics, we are focused on transforming the lives of patients with severe diseases, including cancer and neurodegenerative disorders, through the discovery of advanced, next generation targeted protein degradation (TPD) medicines. Amphista applies its proprietary Eclipsys® platform to generate unique, sequentially bifunctional Targeted Glue™ therapeutics with a differentiated mechanism and leading drug-like properties. Our portfolio offers the potential to deliver first- and/or best-in-class therapeutics with performance characteristics beyond the limitations of CRBN and VHL-based agents. Amphista was co-founded by Advent Life Sciences and is additionally funded by a premier group of investors including Forbion, Gilde Healthcare, Novartis Venture Fund, SV’s Dementia Discovery Fund and Eli Lilly. For more information, please visit: www.amphista.com Amphista, Eclipsys, Targeted Glue, Targeted Glues and the Amphista logo are all trademarks or registered trademarks of Amphista Therapeutics Limited. For more information please contact: Amphista TherapeuticsJohn GoodallInfo@amphista.com ICR Healthcare Amber Fennell, Namrata Taak, Emily JohnsonEmail: Amphista@icrhealthcare.com Tel: +44 (0)20 3709 5813

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