Mauna Kea Technologies Provides an Update on Its Recent Developments

PARIS & BOSTON--(BUSINESS WIRE)--Regulatory News:

Mauna Kea Technologies (Euronext Growth: ALMKT), inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, provides an update on its recent developments amid high volatility of its stock on Euronext Growth.

The company has made significant progress in the area of food intolerances since the UEG Week 2024, receiving a substantial number of expressions of interest from professionals. Since then, it has participated in other conferences, including the DGVS - Deutsche Gesellschaft für Gastroenterologie (German Society for Gastroenterology), where it received similarly enthusiastic feedback. The company has also officially launched its CellTolerance program at a renowned clinic in Paris, where it has trained nutritionists to implement the program. In the United States, the prestigious Stanford University has acquired a Cellvizio dedicated to the CellTolerance program and has begun enrolling patients. These centers aim to enroll a significant number of patients in the coming weeks.

Mauna Kea reaffirms its short-term objective and its commitment to strengthen its financial structure to enable the company to mobilize the necessary resources to consolidate its core activity in gastrointestinal endoscopy and accelerate the commercialization of its innovative CellTolerance program for food intolerances. The size of the targeted markets represents a significant potential lever for value creation. Management is actively working with its financial advisors to explore and implement sustainable solutions that support the company's long-term growth objectives.

Additionally, based on its current cash position, combined with a rigorous cost reduction program, the company is confident in its ability to meet its operational needs until the first quarter of 2025 (from February to the end of March 2025, depending on the achievement of 2024 budget targets). The company's management is continuing discussions with strategic partners and potential investors to extend this cash horizon.

With over 24 years of existence, Mauna Kea Technologies has demonstrated its resilience by overcoming similar challenges in the past. The company will continue to provide regular updates on the progress of financial initiatives, any strategic decisions that result, as well as on its commercial activities.

***

About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company that manufactures and sells Cellvizio®, the real-time in vivo cellular imaging platform. This technology uniquely delivers in vivo cellular visualization which enables physicians to monitor the progression of disease over time, assess point-in-time reactions as they happen in real time, classify indeterminate areas of concern, and guide surgical interventions. The Cellvizio® platform is used globally across a wide range of medical specialties and is making a transformative change in the way physicians diagnose and treat patients. For more information, visit www.maunakeatech.com.

Disclaimer
This press release contains forward-looking statements about Mauna Kea Technologies and its business. All statements other than statements of historical fact included in this press release, including, but not limited to, statements regarding Mauna Kea Technologies' financial condition, business, strategies, plans and objectives for future operations are forward-looking statements. Mauna Kea Technologies believes that these forward-looking statements are based on reasonable assumptions. However, no assurance can be given that the expectations expressed in these forward-looking statements will be achieved. These forward-looking statements are subject to numerous risks and uncertainties, including those described in Chapter 2 of Mauna Kea Technologies' 2023 Annual Report filed with the Autorité des marchés financiers (AMF) on April 30, 2024, which is available on the Company's website (www.maunakeatech.fr), as well as the risks associated with changes in economic conditions, financial markets and the markets in which Mauna Kea Technologies operates. The forward-looking statements contained in this press release are also subject to risks that are unknown to Mauna Kea Technologies or that Mauna Kea Technologies does not currently consider material. The occurrence of some or all of these risks could cause the actual results, financial condition, performance or achievements of Mauna Kea Technologies to differ materially from those expressed in the forward-looking statements. This press release and the information contained herein do not constitute an offer to sell or subscribe for, or the solicitation of an order to buy or subscribe for, shares of Mauna Kea Technologies in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The distribution of this press release may be restricted in certain jurisdictions by local law. Persons into whose possession this document comes are required to comply with all local regulations applicable to this document.