JNJ Johnson and Johnson

Artelo Biosciences, Inc. (Nasdaq: ARTL), a clinical-stage pharmaceutical company focused on modulating lipid-signaling pathways to develop treatments for people living with cancer, pain, and neurological conditions, today announced its selection as a finalist in Johnson & Johnson’s (“J&J’s”; NYSE: JNJ) Innovation Challenge. This invitation-only event seeks novel approaches to treating atopic dermatitis from around the world. Artelo was awarded the opportunity to present preclinical dermatology research on ART26.12 in San Diego, California, on March 11, 2024, concurrent with the American Academy of Dermatology Annual Meeting.

"We are pleased to have been selected to present our ART26.12 program to the J&J immuno-dermatology leadership team," said Dr. Andrew Yates, Chief Scientific Officer of Artelo. “J&J’s stated evaluation criteria including uniqueness, feasibility, development plan viability, and potential impact to human health validates the differentiated potential of our novel Fatty-Acid Binding Protein 5 (FABP5) target platform. We believe that targeting FABP5 with inhibitors such as ART26.12, may apply to a wide range of indications beyond our initial planned clinical development for the treatment of Chemotherapy-Induced Peripheral Neuropathy, including dermatological conditions.”

FABP5, or epidermal FABP, was first discovered in psoriasis tissue in the early 1990s. It is highly expressed in skin and immune cells and plays a key role in skin cell homeostasis. FABP5 is upregulated in numerous dermatological conditions, promoting inflammation and correlating with disease severity.

“Our drug discovery program is investigating several oral, small molecule, FABP5 inhibitors,” said Professor Saoirse O'Sullivan, Vice President Translational Science of Artelo. “We have demonstrated that two of our FABP5 inhibitors, including ART26.12, have positive effects in preclinical psoriasis models. In vitro, ART26.12 was found to reduce oxidative stress and inflammation and to increase antimicrobial peptides in reconstructed human epidermis. In vivo, oral treatment with ART26.12 reduced scaling, skin thickness, and histopathological signs of damage.”

Artelo has submitted its preclinical dermatology data with ART26.12 for presentation at a scientific conference planned to occur later this year.

About ART26.12Fatty Acid Binding Proteins (FABPs) are a family of intracellular proteins that chaperone lipids including endocannabinoids and fatty acids. FABP is overexpressed and associated with abnormal lipid signaling in a number of pathologies. ART26.12, Artelo’s lead FABP inhibitor, is a potent and selective inhibitor of FABP5 being developed as a novel, peripherally acting, non-opioid, non-steroidal analgesic, with an initial clinical study planned for chemotherapy-induced peripheral neuropathy (CIPN). Beyond ART26.12, Artelo’s extensive library of small molecule inhibitors of FABPs have shown therapeutic promise for the treatment of certain cancers, neuropathic and nociceptive pain, dermatological and anxiety disorders.

About Artelo Biosciences Artelo Biosciences, Inc. is a clinical stage pharmaceutical company dedicated to the development and commercialization of proprietary therapeutics that modulate lipid-signaling pathways including the endocannabinoid system. Artelo is advancing a portfolio of broadly applicable product candidates designed to address significant unmet needs in multiple diseases and conditions, including anorexia, cancer, anxiety, pain, and inflammation. Led by proven biopharmaceutical executives collaborating with highly respected researchers and technology experts, the company applies leading edge scientific, regulatory, and commercial discipline to develop high-impact therapies. More information is available at www.artelobio.com and Twitter: @ArteloBio.

Forward Looking StatementsThis press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating to the Company’s product development, market opportunity, competitive position, , business strategies, potential growth opportunities and other statement that are predictive in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the industry and markets in which we operate and management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events and involve known and unknown risks, uncertainties, and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s filings with the Securities and Exchange Commission, including our ability to raise additional capital in the future. Prospective investors are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable securities laws.

Investor Relations Contact:Crescendo Communications, LLCTel: 212-671-1020Email: ARTL@crescendo-ir.com