-- Agreement Calls for Tech Transfer in Preparation for Potential Commercial Manufacturing of Injectable Ophthalmic Product --

-- Sixth Addition to Late-Stage Pipeline in Seven Months --

CHASKA, Minn., June 02, 2026 (GLOBE NEWSWIRE) -- Lifecore Biomedical, Inc. (NASDAQ:LFCR) ("Lifecore"), a fully integrated injectables contract development and manufacturing organization ("CDMO"), today announced that it has signed a manufacturing services agreement with a leading provider of ophthalmic disease management solutions. Under the terms of the agreement, Lifecore will perform process development and technical transfer services in support of anticipated commercial manufacturing upon regulatory approval.

"We are pleased to announce another customer win and the opportunity to support an important new technical transfer program," said Paul Josephs, chief executive officer of Lifecore. "This agreement reflects Lifecore's recognized, technical expertise and specialized manufacturing capabilities in the ophthalmic injectables space.

"This program, which involves transitioning a next-generation reformulation of the commercially approved product from vials to pre-filled syringes, represents a fast-growing modality which is core to our capabilities. This new program further strengthens our growing, late-stage portfolio and builds additional momentum behind our broader strategy to drive sustainable long-term growth. As we continue to add new programs to Lifecore, our team remains focused on delivering strong execution, maintaining the high-quality standards, and serving as a trusted partner in bringing needed therapies to market."

About Lifecore Biomedical

Lifecore Biomedical, Inc. (NASDAQ:LFCR) is a fully integrated contract development and manufacturing organization (CDMO) that offers highly differentiated capabilities in the development, fill and finish of sterile injectable pharmaceutical products in syringes, vials, and cartridges, including complex formulations. As a leading manufacturer of premium, injectable-grade hyaluronic acid, Lifecore brings more than 40 years of expertise as a partner for global and emerging biopharmaceutical and biotechnology companies across multiple therapeutic categories to bring their innovations to market. For more information about the company, visit Lifecore's website at www.lifecore.com.

Important Cautions Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding future events and our future results that are subject to the safe harbor created under the Private Securities Litigation Reform Act of 1995 and other safe harbors under the Securities Act of 1933 and the Securities Exchange Act of 1934. Words such as "anticipate", "estimate", "expect", "project", "aim," "designed to," "plan", "intend", "believe", "may", "might", "will", "should", "can have", "likely" and similar expressions are used to identify forward-looking statements. In addition, all statements regarding our future financial and operating performance and strategy, including our expectation for this new program to further strengthen our growing, late-stage portfolio and to build additional momentum behind our broader strategy to drive sustainable long-term growth; and our focus on delivering strong execution, maintaining high-quality standards, and serving as a trusted parter in bringing needed therapies to market, are forward-looking statements. All forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially, including such factors as, among others, the timing and amount of future expenses, revenue, net income (loss), Adjusted EBITDA, cash flow and capital requirements, and timing and availability of and the need for additional financing; our ability to maintain or expand our relationships with our current customers, including the impact of changes in consumer demand for the products we manufacture for our customers; our ability to grow and diversify our business with new customers, including the potential loss of development customers if they do not receive required funding or regulatory approvals or for other reasons; our ability to comply with covenants under our credit agreements and to pay required interest and principal payments when due; our ability to fund any redemptions of shares of the outstanding Series A Convertible Preferred Stock if requested by holders in accordance with their terms; our ability to raise additional capital for ongoing needs, including through equity financing, debt financing, collaborations, strategic alliances or licensing arrangements; the impact of macroeconomic events or circumstances on our operations and financial performance, including inflation, tariffs, interest rates, social unrest and global instability; the performance of our third-party suppliers; pharmaceutical industry market forces that may impact our customers' success and continued demand for the products we produce for those customers; our ability to recruit or retain key scientific, technical, business development, and management personnel and our executive officers; our ability to comply with stringent U.S. and foreign government regulation in the manufacture of pharmaceutical products, including current Good Manufacturing Practice, or cGMP; the outcome and cost of existing and any new litigation or regulatory proceedings; and other risk factors set forth from time to time in the company's filings with the Securities and Exchange Commission (the "SEC"), including, but not limited to, the Annual Report on Form 10-KT for the transition period ended December 31, 2025 (the "December 2025 10-KT"). For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the SEC, including the risk factors contained in the December 2025 10-KT. Forward-looking statements represent management's current expectations as of the date hereof and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

Contact Information:

Vida Strategic Partners

Stephanie Diaz (Investors)

415-675-7401

sdiaz@vidasp.com

Jennifer Arcure (Media)

917-603-0681

jarcure@vidasp.com

Lifecore Biomedical

Ryan D. Lake (CFO)

952-368-6244

ryan.lake@lifecore.com

Lifecore Biomedical Signs Agreement with New Biopharmaceutical Customer