Placing of £2.5 million

This Announcement does not constitute a prospectus or offering memorandum or an offer in respect of any securities and is not intended to provide the basis for any investment decision in respect of CRISM Therapeutics Corporation or other evaluation of any securities of CRISM Therapeutics Corporation or any other entity and should not be considered as a recommendation that any investor should subscribe for or purchase any such securities.

CRISM Therapeutics Corporation

("CRISM", "CRISM Therapeutics" or the "Company")

Placing of £2.5 million

CRISM Therapeutics Corporation (AIM: CRTX), a UK clinical-stage drug delivery company focused on the localised and sustained delivery of chemotherapy drugs, is pleased to announce that it has successfully raised £2.5 million (before expenses) by way of a significantly oversubscribed placing of 25,000,000 new ordinary shares of no par value each in the Company ("Placing Shares") at a price of 10 pence per share (the "Issue Price") (the "Placing") to new and existing investors. The Placing Shares each have an attaching grant of warrants ("Warrants") on a one for one basis, exercisable at a price of 15 pence per ordinary share and expiring on 16 December 2027.

The Placing Shares will represent approximately 32.6 per cent. of the Company's enlarged issued share capital following completion of the Placing (ignoring the issue of any shares in connection with the Retail Offer). The Issue Price represents a discount of approximately 13.0 per cent. to the closing mid-market price of 11.5 pence per ordinary share on 22 May 2026.

The Placing was undertaken by the Company's broker, SP Angel Corporate Finance LLP.

The Company values its retail shareholder base and believes that it is appropriate to provide existing retail and other shareholders the opportunity to purchase shares at the Issue Price. The Company intends to carry out a separate retail offer to raise further gross proceeds of up to £100,000 via the BookBuild Platform (the "Retail Offer"). A further announcement will be made shortly regarding the Retail Offer and its terms.

Highlights of the Placing:

• Placing raising £2.5 million (before expenses) through the issue of 25,000,000 Placing Shares at 10 pence per share.
• The net proceeds of the Placing will:

o Provide the Company with the finance required to help secure significant grant funding, subject to confirmation;

o Progress the Phase 2 open-label clinical trial of irinotecan-ChemoSeed for the treatment of glioblastoma;

o Support the continued development of docetaxel-ChemoSeed for prostate cancer; and

o Provide the Company with additional working capital.

• A separate retail offer to existing holders will be launched shortly.
• The Placing will be completed in two tranches, with the first tranche of 2,500,000 Placing Shares (the "Firm Placing Shares") being issued pursuant to the Company's existing share issuance authority and expected to admit to trading on AIM on or around 28 May 2026. The issue of the remaining 22,500,000 Placing Shares (the "Conditional Placing Shares"), the 25,000,000 Warrants, and up to 1,000,000 shares to be issued pursuant to the Retail Offer will require the approval of shareholders at a general meeting of the Company (the "General Meeting"). CRISM will shortly publish a notice of General Meeting setting out the shareholder resolutions requiring approval, and the Board of CRISM's recommended support for the resolutions. It is expected that the General Meeting will be held on or around 15 June 2026.

CRISM CEO, Andrew Webb, said: "This fundraise represents a pivotal moment for CRISM Therapeutics, providing the necessary capital to take us beyond the critical milestone of dosing our first patient in our Phase 2 open label clinical trial of irinotecan-ChemoSeed for glioblastoma, a disease where patients need better options. We are well-positioned to initiate Part 2 of the trial in newly diagnosed patients. In addition, our FDA Orphan Drug Designation award in March 2026, will strengthen the commercial appeal and regulatory profile of our lead programme. Further, we are excited by the encouraging early preclinical data from our docetaxel-ChemoSeed programme in prostate cancer, which we look forward to advancing. We are driven by our commitment to improving outcomes for cancer patients, and I would like to thank our shareholders for their continued support in helping us get there."

Rationale for the Placing

The Placing will provide the Company with the finance needed to help secure significant grant funding, subject to final approval, and enable the Company to progress its Phase 2 open-label clinical trial, with the first patients expected to be dosed in June 2026. The net proceeds will also allow the continued development of docetaxel-ChemoSeed for treatment of prostate cancer, which has demonstrated significant positive preclinical efficacy and safety results.

Warrants

The Company intends to grant participants of the Placing with one Warrant for every Placing Share. As a result, 25,000,000 Warrants will be granted to the placees, conditional on approval by shareholders at the General Meeting. Each Warrant will provide the holder with the right to one new ordinary share on its exercise. The Warrants will be exercisable at a price of 15 pence until 16 December 2027.

Expected timetable of principal events

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for admission of the Firm Placing Shares ("Admission"). It is expected that Admission will become effective and that trading will commence in the Firm Placing Shares at 8.00 a.m. on or around 28 May 2026, or such later date as may be agreed between the Company and SP Angel. The Firm Placing Shares will rank pari passu with the Company's existing ordinary shares.

Following the issue of the Firm Placing Shares, the total issued share capital of the Company will consist of 54,235,266 ordinary shares. The Company does not hold any ordinary shares in treasury. Therefore, the total number of voting rights in the Company will be 54,235,266 and this figure 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

The Company's LEI is 213800XFW6MKVCHHPW88.