Voltron Therapeutics, Inc. announces today a letter to the shareholders.

Dear Voltron Therapeutics shareholders,

We hope this letter finds you well during this remarkable time. We would also like to thank for your support of Voltron.

The current COVID-19 pandemic is exactly the kind of situation that our VaxCelerate platform was created to address. Recall that this is the technology to which we acquired a global, exclusive license from the Massachusetts General Hospital (MGH)/Harvard Medical School. We have moved ahead rapidly to advance the technology in order to help address this global threat.

We would like to update you on our progress with both the COVID-19 vaccine, as well as on the parallel effort to develop VaxCelerate for oncology indications.

HaloVax™, COVID-19 Vaccine

Our vaccine has a number of important advantages that other company's efforts do not share; most importantly in VaxCelerate we have an incredibly nimble and flexible platform that can quickly adapt to new mutations of the virus, where others may not. Further, only VaxCelerate has been designed to be both flexible and avoid known safety issues with vaccines, such as Antibody Induced Enhanced Disease.

We have taken several important steps in the development of our vaccine:

• Voltron executed a Sponsored Research Agreement (SRA) with MGH to conduct preclinical research on two COVID-19 vaccine candidates
• Formed a development partnership with Hoth Therapeutics (NASDAQ: HOTH) to advance the COVID technology, including an investment by Hoth
• Selected the first of two vaccine candidates
• Began manufacturing the peptides that will complete the first vaccine
• Initiated the process at MGH to begin testing in a mouse vaccine model
• Began the process of selecting the second vaccine candidate
• Started the process of scaling up production of the largest component of the vaccine, Heat Shock Protein 70 (HSP70), which is common to all versions of VaxCelerate vaccines in both infectious disease and oncology
• Initiated the process to secure government funding for future development of the vaccine, from sources including BARDA and the Department of Defense.
• Our Scientific Co-Founder and advisor was featured in a number of news articles and interviewed numerous times for TV, radio, podcasts and other online reports, including MSNBC, Bloomberg, Yahoo Finance, and several others. https://voltrontx.com/news/

Our next key steps for the HaloVax vaccine include:

1. Initiate animal testing of the first COVID-19 vaccine
2. Select the second vaccine candidate and manufacture the required peptides
3. Initiate animal testing on the second candidate
4. Report initial animal data for both vaccines
5. Begin testing in a second animal model for each vaccine, if required by the FDA
6. Announce any external funding acquired

Additionally, we have assembled a world class team, including:

• Dr. Mark Poznansky, Director of the Vaccine and Immunotherapy Center (VIC) and Physician at Massachusetts General Hospital and an Associate Professor of Medicine at Harvard Medical School. Scientific founder and Scientific Advisory Board member
• Dr. Jeffrey A. Gelfand is an infectious disease specialist at MGH and inventor of this technology
• Zachary Shriver, PhD, Visterra Inc., a globally recognized expert in manufacturing & protein design
• Jeffrey Conroy, a Business Development expert with decades of experience and deep experience in pharmaceutical deal-making; currently CEO at Embody
• Paul Korner, MD, a Clinical Development expert with numerous products progressed through the clinical/regulatory process at Sarepta and Axovant
• George Steinfels, a Clinical Research Organization executive, formerly with Quintiles and Dupont Pharmaceuticals.

Oncology Programs

Fortunately, virtually all of our COVID efforts will simultaneously advance our Oncology programs. This is because all VaxCelerate vaccines will have 90+% that is identical from one vaccine to the next – the HSP70 portion. This allows us to make substantial progress with both our manufacturing and regulatory efforts in oncology through the work we are conducting for the COVID program.

We have selected Ovarian and other Human Papilloma Virus (HPV) related cancers as our initial targets. We are moving these programs ahead in parallel with the ID efforts.

We have taken several important steps ahead in development of the oncology vaccines:

• We are executing a new Sponsored Research Agreement (SRA) with MGH to conduct preclinical research in two vaccine candidates
• Started the process of scaling up production of the main component of the vaccine, Heat Shock Protein 70 (HSP70), which is common to all versions of VaxCelerate vaccines in both infectious disease and oncology

Our next key steps for the cancer vaccine program include:

1. Finalize the SRA with MGH
2. Initiate animal testing in the first indication, likely Ovarian cancer
3. Initiate animal testing in the second tumor type
4. Report animal data for both indications

Again, thank you for your support and please be well.

Best Regards,

Pat Gallagher, Chief Executive Officer
Matthew Duffy, President
James Ahern, Director
Matthew Eitner, Director

About Voltron Therapeutics, Inc.

Voltron Therapeutics, Inc., a Delaware corporation, was founded in 2017 to lead and accelerate the development of the Vaccine and Immunotherapy Center (VIC), and the Massachusetts General Hospital's novel Self Assembling Vaccine technology in a variety of indications, including in Oncology and emerging Infectious Diseases. Voltron holds an exclusive worldwide license to this technology. With the work of our world class team of researchers and physicians, this technology has shown in certain pre-clinical studies initial proof of concept in two infectious diseases (Lassa Fever and Q Fever) as well as two oncology indications (Ovarian and HPV Related). For more information please visit www.voltrontx.com.