Liminal BioSciences Reports 3rd Quarter 2022 Financial Results and Business Highlights.

LAVAL, QC and CAMBRIDGE, England: Liminal BioSciences Inc. (NASDAQ: LMNL) ("Liminal BioSciences" or the "Company"), today reported its financial results for the third quarter ended September 30, 2022.

"We are pleased to be entering the fourth quarter of 2022 with anticipated cash and cash equivalents to fund our near-term development goals into the fourth quarter of 2023, with possibilities to further extend that runway into 2024 with the sale of non-core, real estate assets," stated Bruce Pritchard, Chief Executive Officer of Liminal BioSciences. "We look forward to executing on our key corporate and R&D priorities which include nominating our lead candidate for the Company's GPR84 antagonist program in the coming months, potentially by the end of 2022."

We are also pleased to be announcing some changes to our executive leadership team. Nicole Rusaw, who has been serving as interim Chief Financial Officer since March 2, 2022, has been appointed as Chief Financial Officer (CFO) effective immediately. In her role as Liminal BioSciences' CFO, Nicole will continue to lead the finance function and implement progressive financial, operating, and technical processes as a permanent member of the team.

In addition to the appointment of Nicole as CFO, Dr. Gary Bridger, current member of the Board of Directors and Strategic Advisor to the Company, has been named Interim Chief Scientific Officer effective immediately. Dr. Bridger will oversee the Research and Development function and assume responsibility for leading all aspects of the Company's research and development programs. Dr. Bridger continues to serve as a board member of the Company.

"With the business poised to embark on the next stage of its journey, we are excited to make these changes to the senior leadership team. The leadership qualities, extensive experience in drug development and demonstrated track record of leading teams at significant organizations of Nicole and Dr. Bridger come at an important time as we prepare for key milestones for our small molecule pipeline," stated Bruce Pritchard, Chief Executive Officer of Liminal BioSciences.

Key Corporate and R&D Priorities for 2022

Following the completion of internal pre-clinical disease modelling studies, we intend to nominate a pre-clinical candidate and announce the area(s) of potential indication(s) for further development of our GPR84 antagonist program in the coming months, potentially by the end of 2022.

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