Cascade BioSciences Inc.

Cascade BioSciences Inc. (TSX: CSBX) today announced positive interim data from the ongoing Phase II study of CSB-204 in patients with relapsed/refractory solid tumours.

• CSB-204 demonstrated a 41% objective response rate (ORR) at the pre-specified interim analysis (n=68).
• Median duration of response has not yet been reached.
• Safety profile consistent with previously reported Phase I data; no new dose-limiting toxicities observed.

The Company expects regulatory approval and commercial launch on its previously disclosed timeline.

Cascade BioSciences is a Canadian oncology-focused developer with a pipeline led by CSB-204. The Company's common shares trade on the Toronto Stock Exchange under the symbol CSBX.

Certain statements in this document constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information reflects current expectations regarding future events and operating performance and speaks only as of the date of this document. Actual results may differ materially. Material factors and assumptions used to develop the forward-looking information and the material risk factors that could cause actual results to differ are described in the Company's most recent Annual Information Form and MD&A. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws.