Issue of Equity

22 July 2022

ONDINE BIOMEDICAL INC.

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

Further purchase of shares in Sinuwave

Issue of Equity

Ondine Biomedical Inc. (AIM: OBI), is pleased to announce that, pursuant to a share for share exchange arrangement, it has acquired 25,000 common shares in Sinuwave Technologies Corporation ("Sinuwave") in return for 8,333 new common shares in Ondine ("Consideration Shares"), resulting in an increase of Ondine's ownership in Sinuwave from 99.96% to 100%.

Admission and Total Voting Rights

Application has been made for admission of the Consideration Shares, which will rank pari passu with existing common shares, to trading on AIM ("Admission"). It is expected that Admission will become effective and trading will commence at 8.00 a.m. on 25 July 2022.

Following Admission, the enlarged issued share capital of the Company will be 194,592,857 common shares. The above figure may be used by shareholders 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.

 **ENDS**

About Ondine Biomedical Inc.

Ondine Biomedical Inc. (AIM: OBI) is a Canadian headquartered, medical device company led by founder and CEO, Carolyn Cross. Ondine has developed a patented, painless, photodisinfection technology platform used in treatment and prevention therapies for a broad-spectrum of pathogens - including multidrug-resistant strains. Photodisinfection is a targeted antimicrobial which uses non-thermal light to activate a photosensitive agent. In a few minutes, this light-based therapy destroys the pathogens' cell membranes and surface proteins through an oxidative burst without impact on human tissue. 

Ondine has a pipeline of products, based on its patent protected photodisinfection platform, in various stages of development. Products include treatment of chronic rhinosinusitis, decolonisation of infections in burns and wounds, disinfection of endotracheal tubes to reduce the incidence of ventilator-associated pneumonia and most recently, the development of topical antiviral therapy for the upper respiratory tract to reduce viral titres and transmission of respiratory viruses (e.g., SARS-CoV-2, influenza, RSV, etc.). Ondine's technology is approved in a number of jurisdictions and has been awarded the CE mark, as well as Qualified Infectious Disease Product and Fast Track status in the U.S. by the FDA.

For more information, please visit:  www.ondinebio.com or contact: