Crescita Secures Line of Credit with the Royal Bank of Canada Following Repayment in Full of Knight Therapeutics Loan

Crescita Therapeutics Inc. (TSX: CTX) (OTC US: CRRTF) ("Crescita" or the "Company"), a commercial dermatology company with manufacturing capabilities and a portfolio of non-prescription skincare products and prescription drug products for the treatment and care of skin conditions, diseases and their symptoms, today announced that it has secured a $3.5 million revolving demand operating credit facility (the "Facility") with the Royal Bank of Canada ("RBC") following the repayment in full of its outstanding long-term debt of $3.6 million owed to Knight Therapeutics Inc. (the "Knight Loan").

The Facility can be drawn by Crescita for working capital requirements and general corporate purposes, and bears interest at a low single-digit premium to RBC's Prime Rate. As is customary for a credit facility of this nature, loans drawn on the Facility will be secured by a first ranking charge in favour of RBC over the Company's accounts receivable and inventories. Drawings after the first $1.0 million on the Facility will be limited to a percentage of the Company's then outstanding accounts receivable and inventory. The closing of the Facility remains subject to the steps required to grant RBC a first-ranking charge over the Company's accounts receivable and inventories. Subject to the satisfaction of such condition, the Facility is expected to be available in the first quarter of 2020.

"The repayment in full of the Knight Loan represents an important step in improving our balance sheet and is a good use of our cash at this time. This leaves us only with the convertible debentures which we believe will be converted to equity over time," commented Jose DaRocha, Crescita's Chief Financial Officer. "We are also very pleased to develop a closer relationship with RBC by establishing this operating line of credit which will increase our flexibility to execute our strategy by leveraging our technologies to build and grow our revenue streams," added Mr. DaRocha.

About Crescita Therapeutics Inc.

Crescita (TSX: CTX) (OTC US: CRRTF) is a publicly traded, Canadian commercial dermatology company with manufacturing capabilities and a portfolio of non-prescription skincare products for the treatment and care of skin conditions, diseases and their symptoms and prescription drug products for the treatment of pain. Crescita owns multiple proprietary drug delivery platforms that support the development of patented formulations that can facilitate the delivery of active drugs into or through the skin.

Supported by a sales force covering Canada and executing its business to business to consumer marketing approach, Crescita sells its non-prescription products through spas, medispas and medical clinics. In addition, our brands and formulations are currently sold in the U.S. and certain Asian markets through international distributors as well as through a leading cross-border e-commerce channel in China.

Crescita developed a prescription product called Pliaglis® that utilizes our proprietary phase-changing topical cream Peel technology. Pliaglis is a topical local anaesthetic cream that provides safe and effective local dermal analgesia on intact skin prior to superficial dermatological procedures. The product is currently approved in over 25 different countries and sold by commercial partners in the U.S., Italy and Brazil.

Crescita also provides contract development and manufacturing services to several local and North American clients. Our contract development and manufacturing organization infrastructure allows Crescita to provide its clients with development and other support activities required to bring their products to market. Crescita has extensive expertise in product formulation and development, leveraging our patented transdermal delivery technologies, and specializes in manufacturing creams, liquids, gels ointments and serums. The Company operates out of a 50,000 square-foot manufacturing facility located in Laval, Québec that is compliant with current Canadian Good Manufacturing Practices and is regularly inspected by Health Canada.