TEL AVIV, ISREAL – TheNewswire - March 28, 2023 --- MobiVentures, Inc. (OTC:MBLV) (the “Company”), announced today that it has commenced operations in its newly formed Anabasis Pharma Israel Ltd. subsidiary (“Anabasis Pharma Israel”).

Anabasis Pharma Israel is aimed at developing a novel Drug Delivery System combined with proprietary formulation based on Psilocybin Active Pharmaceutical Ingredient, the focus of the development is therapy of Depression in Patients with Dementia. Anabasis will use license proven formulation and drug delivery technology to reduce cost, time and risk of developing psilocybin treatment for depression in patients with dementia

Anabasis Pharma Israel has partnered with Marina which is the biggest Mushroom grower and distributor in Israel, to jointly develop and cultivate APIs derived from Psilocybin mushrooms. In addition, Marina will provide a full envelope of in house R&D capabilities and highly scalable GAP and GMP production capabilities Anabasis aims to commence a phase I clinical study in one of the leading centers for Alzheimer in Israel

Anabasis Pharma Israel is led by seasoned managers, scientific team and directors from the pharma industry including:

Prof. Michael Davidson President of the Alzheimer Center in Israel led several drug development projects and Former Chairman, Psychiatry Department of Tel Aviv University

Prof. Avraham Karasik, Professor and vice Dean School of Medicine, Tel-Aviv University, experienced Drug Development Executive who served in the R&D departments of Merck US and Teva Israel.

Iftach Seri, Director, former CEO, Wavelength Pharmaceuticals, Former CEO of Teva Pharmaceuticals Israel, Former Head, API Division of Sun Pharma (NYSE, turnover > £ 3 billion)

Koby Cohen, CPA, MBA, CFO, former CFO, MATIMOP, the coordinator of industrial R&D cooperation between Israel and the international hi-tech community

Yaacov Michlin, CEO of Bio light [TASE:BOLT], a leader in Ophthalmology development, former CEO & President of Brainsway (TASE listed: BRIN), former President and CEO of Yissum – the technology transfer company of the Hebrew University of Jerusalem.

Tamir Gedo, Ph.D., Founder and former CEO of BOL, Previous Chairman, Cannabis section at the Industrial Association of Israel, former CEO of Beyond Oil (CSE listed: BOIL), Chairman of Atlas Global Brands (CSE listed: ATL), founder of CanNegev (Israel Ministry of Economy and Innovation program of Incubators).

With the commencement of operations, the Company is no longer considered to be a “shell company” pursuant as defined in Rule 405 of the Securities Act of 1933, Rule 12b-2 of the Exchange Act of 1934 and Rule 15c2-11 of the Exchange Act of 1934.

The Company also announced that it has changed its name to Anabasis Pharma, Inc. with the State of Wyoming and will be applying to FINRA to recognize the name change and for a voluntary trading symbol change.

Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "should," "intends," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.

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