Anebulo Pharmaceuticals, Inc. (Nasdaq: ANEB) (“Anebulo” or the “Company”), a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance addiction, today reported that the United States Patent and Trademark Office has issued U.S. Patent No. 11,141,404, titled "Formulations And Methods For Treating Acute Cannabinoid Overdose." The issued patent describes the use of the Company’s investigational drug ANEB-001 to treat acute cannabinoid overdose and is expected to provide patent protection through 2040.

“There is a large and growing unmet need to treat acute cannabinoid intoxication, and we believe ANEB-001 has the ability to reverse symptoms safely and rapidly. We remain on track to commence our Phase 2 proof-of-concept clinical study in the fourth quarter with an expected readout of topline results in the first half of next year,” stated Daniel Schneeberger, MD, Chief Executive Officer of Anebulo. “The issuance of this U.S. patent is a significant milestone in the development of ANEB-001. We have a strategic focus on enhancing our intellectual property portfolio and are actively working on additional patent applications to protect our proprietary position.”

ANEB-001 is a competitive antagonist at the human CB1 receptor, good oral bioavailability and brain penetration (brain:plasma ratio of approximately 1.5). ANEB-001 has been shown to antagonize THC-induced hypolocomotion in mice, a CB1 receptor-mediated response. ANEB-001 is being developed for oral administration, reaches potentially therapeutic blood levels within 30 minutes and is believed to rapidly reverse the signs and symptoms of acute cannabinoid intoxication in as little as one hour.

About Anebulo Pharmaceuticals, Inc.

Anebulo Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company developing novel solutions for people suffering from acute cannabinoid intoxication and substance addiction. Its lead product candidate, ANEB-001, is intended to reverse the negative effects of acute cannabinoid intoxication within one hour of administration. Clinical trials completed to date have shown that ANEB-001 is rapidly absorbed, well tolerated and may lead to weight loss, an effect that is consistent with central cannabinoid receptor type 1 antagonism. For further information about Anebulo, please visit www.anebulo.com.

Forward-Looking Statements

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