21 August 2023

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine" or the "Company")

Issue of Equity & Total Voting Rights

Ondine Biomedical Inc. (AIM: OBI) announces the issue of 78,719 common shares in the Company ("Common Shares") pursuant to an annual bonus award for a staff member. The Common Shares are being issued at a price of $0.212 USD* per Common Share.

Admission and Total Voting Rights

Application is being made for the admission to trading on AIM ("Admission") of the 78,719 Common Shares, which will rank pari passu in all respects with the Company's existing common shares. Admission of the Common Shares is expected to become effective on 23 August 2023.

Following Admission, the total number of Common Shares in the Company with voting rights will be 195,062,126. The Company does not hold any shares in Treasury. The above figure of 195,062,126 Common Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company.

* Based on the Company's closing share price, and GBP/USD exchange rate, on 27 March 2023 being the reference date for the bonus award. 

About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian headquartered company innovating in the field of photodisinfection therapies. Ondine has a pipeline of investigational products, based on its proprietary photodisinfection platform, in various stages of development. Ondine's nasal photodisinfection technology is approved in several jurisdictions under the brand name Steriwave™. It has been awarded the CE mark and, in the US, has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns, and other indications.