NOVALIQ COMPLETES ENROLLMENT OF SECOND PHASE 3 STUDY FOR CYCLASOL® FOR THE TREATMENT OF DRY EYE DISEASE

Novaliq, a biopharmaceutical company focusing on first- and best-in-class ocular therapeutics based on the unique EyeSol® water-free technology, today announced the second of two Phase 3 (ESSENCE-2) studies, evaluating the investigational drug CyclASol® to treat the signs and symptoms of dry eye disease DED, has been completely enrolled with a total of 834 participants.

Enrollment of second phase 3 trial for NOV03 completed

Bausch + Lomb, a leading global eye health business of BauschHealth Companies Inc. (“Bausch Health” or the “Company”), and Novaliq GmbH, a biopharmaceutical companyfocusing on first- and best-in-class ocular therapeutics, today announced the second of two Phase 3 (MOJAVE) studies evaluating theinvestigational drug NOV03 (perfluorohexyloctane) as a first-in-class eye drop with a novel mechanism of action to treat the signs andsymptoms of dry eye disease (DED) associated with meibomian gland dysfunction (MGD), has been completely enrolled with a total of622 participants.

BAUSCH + LOMB ANNOUNCES STATISTICALLY SIGNIFICANT TOPLINE RESULTS FROM THE FIRST PHASE 3 TRIAL OF NOV03 (PERFLUOROHEXYLOCTANE) IN DRY EYE DISEASE ASSOCIATED WITH MEIBOMIAN GLAND DYSFUNCTION

All Primary and Secondary Endpoints Were Achieved

Bausch + Lomb, a leading global eye health business of Bausch Health Companies Inc. (NYSE/TSX: BHC) (“Bausch Health” or the “Company”), and Novaliq GmbH, a biopharmaceutical company focusing on first- and best-in-class ocular therapeutics, today announced statistically significant topline data from the first Phase 3 trial (GOBI trial) evaluating the investigational drug NOV03 (perfluorohexyloctane) as a first-in-class eye drop with a novel mechanism of action to treat the signs and symptoms of dry eye disease (DED) associated with meibomian gland dysfunction (MGD).

Novaliq Provides Development Update on CyclASol^® Topical Ophthalmic Solution for the Treatment of Dry Eye Disease

• CyclASol^® has the potential to change the way eye care practitioners treat patients with dry eye disease
• EyeSol^®, the unique water-free technology, unfolds the full potential of cyclosporine A on the ocular surface with an unprecedented tolerability profile
• Novaliq agreed with the U.S. Food and Drug Administration (FDA) that the second registrational trial, ESSENCE-2, is expected to complete the clinical development of CyclASol^®
• ESSENCE-2 is a multicenter, randomized, double-masked, vehicle-controlled clinical trial expected to start in the second half of 2020

Novaliq GmbH, a pharmaceutical company focusing on first- and best-in-class ocular therapeutics, today provided a development update on its investigational water-free and preservative-free drug CyclASol^®.

CyclASol^® is a topical anti-inflammatory and immunomodulating ophthalmic solution, containing 0.1% cyclosporine A in EyeSol^®, developed for the treatment of dry eye disease. The unique water-free formulation increases residual time on the ocular surface and enables a high bio-availability in the target tissues to unfold the full potential of cyclosporine A. The multi-dose, preservative-free, smaller and more physiologic droplet size profile provides unique clinical benefits and outstanding tolerability. Notably, the improvement in visual function associated with a clinically significant reduction of corneal staining, as shown in the recent Phase 2/3 clinical ESSENCE-1 trial, will differentiate CyclASol^® from existing therapies.

Novaliq and Jiangsu Hengrui Medicine announce a strategic collaboration in ophthalmology for the EyeSol®-based investigational products NOV03 and CyclASol® in China

• Jiangsu Hengrui Medicine secures exclusive rights to develop, manufacture, and commercialize NOV03 and CyclASol® in China.
• NOV03 (perfluorohexyloctane) is a first-in-class investigational drug with a novel mode of action to treat Dry Eye Disease (DED) associated with Meibomian gland dysfunction (MGD).
• CyclASol® (0.1% cyclosporine A in EyeSol®) is an anti-inflammatory and immunomodulating investigational drug developed for the treatment of aqueous deficient DED.
• Novaliq is eligible to receive upfront and milestone payments of up to 165 million plus royalties.

Novaliq GmbH, a pharmaceutical company focusing on first- and best-in-class ocular therapeutics, and Jiangsu Hengrui Medicine Co., Ltd. (SSE: 600276), a fully integrated biopharmaceutical company based in China, announce today the closing of an exclusive license agreement to develop, manufacture, and commercialize the innovative, water-free drugs NOV03 and CyclASol® for the treatment of dry eye disease in People’s Republic of China (including mainland China, Hong Kong, Macau and Taiwan).