Alphamab Oncology — Capital/Financing Update 2020

Jun 10, 2020

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ALPHAMAB ONCOLOGY 康寧傑瑞生物製藥

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 9966)

VOLUNTARY ANNOUNCEMENT

CO-DEVELOPMENT OF ANTIBODY FOR CORONAVIRUS TREATMENT WITH INSTITUT PASTEUR OF SHANGHAI

This announcement is made by Alphamab Oncology (the “ Company ”, together with its subsidiaries, the “ Group ”) on a voluntary basis to inform the shareholders and potential investors of the Company about the latest business advancement of the Group.

PASTEUR AGREEMENT

The board of directors of the Company (the “ Board ”) is pleased to announce that Jiangsu Alphamab Biopharmaceuticals Co., Ltd. (“ Jiangsu Alphamab ”), a wholly-owned subsidiary of the Company, and Institut Pasteur of Shanghai, Chinese Academy of Sciences (“ Institut Pasteur of Shanghai ”) entered into a cooperative development agreement on June 10, 2020 (the “ Pasteur Agreement ”), in respect of the collaboration (the “ Collaboration ”) in the global research and development, preclinical and clinical development, registration, commercial manufacturing and sales of certain antibodies (the “ Pasteur Antibody ”) owned by Institut Pasteur of Shanghai at the early stage of drug discovery in the field of coronavirus. The preliminary research of the Collaboration primarily focuses on the use of the Pasteur Antibody in the treatment for coronavirus disease 2019 (“ COVID-19 ”).

The principal terms of the Pasteur Agreement are set out below:

Scope of the Collaboration

The research and development, preclinical and clinical development, registration, commercial manufacturing and sales of the Pasteur Antibody in the field of coronavirus globally.

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Content of the Collaboration

• Jiangsu Alphamab is mainly responsible for constructing humanized antibodies and expressing recombinant engineered cell lines for candidate antibody combinations with the charge repulsion induced antibody mixture (CRAM) platform, formulating clinical trial plans, applying for clinical trials and conducting clinical research as well as carrying out pharmacological research for combination antibody candidates and research on production technology, applying for biologic product licenses, and commercializing (including manufacturing and sales) the product. Jiangsu Alphamab or its designated entities will act as the exclusive drug license holder and exclusive manufacturer of products.

Institut Pasteur of Shanghai is mainly responsible for providing the Pasteur Antibody, screening, comprehensively analyzing and testing candidate antiviral neutralizing antibodies (including humanized antibodies), providing assistance to construct and complete experimental systems, conducting neutralizing experiments on candidate humanized antibodies and activity tests under specific conditions, and assisting clinical trials, etc.

Profit distribution

• Intellectual properties

• Both parties will allocate the profits generated from the Collaboration globally in accordance with the agreed milestones under the Pasteur Agreement with respect to the profits generated from the research of Pasteur Antibody under the Collaboration in the field of COVID-19. Both parties will negotiate separately with respect to the allocation of profits generated from the fields of other coronaviruses.

Institut Pasteur of Shanghai will grant to Jiangsu Alphamab an exclusive, transferable, and sub-licensable license in the field of the prevention and treatment of coronaviruses from the effective date of the Pasteur Agreement with respect to the Pasteur Antibody and its related intellectual properties. Institut Pasteur of Shanghai shall obtain Jiangsu Alphamab’s written consent with respect to the collaborative development with third parties in the field of the prevention of coronavirus in relation to the Pasteur Antibody that is not selected by Jiangsu Alphamab. Institut Pasteur of Shanghai is entitled to make its own decision with respect to the collaborative development with third parties in the field of diagnosis of coronavirus.

Any intellectual properties relating to mixed antibodies of the Pasteur Antibody and subsequent preclinical research, clinical research, manufacturing, and commercialization are and will be exclusively owned by Jiangsu Alphamab.

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REASONS FOR AND BENEFITS OF THE COLLABORATION

Currently, there are no effective antibody drugs approved for COVID-19 treatment. The humanized antibody combination can mechanistically neutralize coronavirus and is an important direction for the research of COVID-19 treatment and other coronavirus diseases. Jiangsu Alphamab supports the development and commercialization of the Pasteur Antibody with its mixed antibodies and multiple technology platforms with independent intellectual properties, as well as its large scale production capacity. Through the Collaboration, Jiangsu Alphamab and Institut Pasteur of Shanghai are expected to combine their strengths to accelerate the research and development of antibody drugs for COVID-19 and coronavirus diseases. The Company believes that the Collaboration will help the Company to actively fulfill its corporate social responsibility as a pharmaceutical enterprise and will have a positive impact on the research and development and commercialization of the Company’s candidate drugs. The Company believes that the Pasteur Agreement is in the interests of the Company and its shareholders as a whole.

ABOUT INSTITUT PASTEUR OF SHANGHAI

Institut Pasteur of Shanghai, inaugurated on October 11, 2004, is a national scientific research institution of the Chinese Academy of Sciences that is engaged in basic research and related technology applications on human infectious diseases. It focuses on core scientific issues such as the basic law of activity of pathogenic microorganisms and the pathogenic mechanism of major infectious diseases, promoting the knowledge innovation and academic development in pathogenesis, immunology and vaccinology. Institut Pasteur of Shanghai emphasizes on key technical issues on the solutions of pathogen discovery and biological treatment (such as antibodies and vaccines) and focuses on providing scientific and technological support and solutions for public health and biosecurity in China.

ABOUT THE COMPANY

The Company is a leading clinical-stage biopharmaceutical company in China with a fully-integrated proprietary biologics platform in bispecific and protein engineering. Differentiated in-house pipeline of the Company consists of eight oncology drug candidates, including four in the phase I-III clinical trial development stage. The Company has developed various technologies and platforms of antibody-based therapies for oncology treatment and expertise in this regard. Benefitting from the proprietary protein engineering platforms and structure-guided molecular modeling expertise, the Company could potentially create a new generation of multi-functional bio-macromolecule new drug candidates that benefit patients globally.

Cautionary Statement with Reference to Rule 18A.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited: The Company cannot guarantee that it will be able to develop, or ultimately commercialize, antibody drug for coronavirus diseases successfully. Shareholders and potential investors of the Company are advised to exercise due care when dealing in the shares of the Company.

By Order of the Board Alphamab Oncology Dr. XU Ting Chairman and Executive Director

Hong Kong, June 10, 2020

As at the date of this announcement, the Board comprises Dr. XU Ting as the Chairman and Executive Director and Ms. LIU Yang as Executive Director, Mr. XU Zhan Kevin and Mr. QIU Yu Min as Non-executive Directors, and Dr. JIANG Hualiang, Mr. WEI Kevin Cheng and Mr. WU Dong as Independent Non-executive Directors.

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