SinoMab BioScience Limited — Capital/Financing Update 2022

Nov 7, 2022

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

==> picture [29 x 44] intentionally omitted <==

==> picture [29 x 44] intentionally omitted <==

SinoMab BioScience Limited 中國抗體製藥有限公司

(Incorporated in Hong Kong with limited liability)

(Stock code: 3681)

SUPPLEMENTAL ANNOUNCEMENT IN RELATION TO SUBSCRIPTIONS OF NEW SHARES UNDER GENERAL MANDATE

Reference is made to the announcement of SinoMab BioScience Limited (the ‘‘Company’’) dated 2 November 2022 (the ‘‘Announcement’’) in relation to subscriptions of new shares of the Company under general mandate. Capitalised terms used in this announcement shall have the same meanings as defined in the Announcement unless otherwise stated.

SUPPLEMENTAL INFORMATION IN RELATION TO THE USE OF PROCEEDS

As disclosed in the Announcement, the Company intends to use the net proceeds to (i) further advance the Company’s R&D programmes, expand its R&D team, build its commercialisation team, develop its proprietary technology and enhance its full-spectrum platform; and (ii) for general working capital purpose.

– 1 –

The Company would like to supplement further information in relation to the use of proceeds from the Subscriptions as follows:

Intended use of the		Expected time
proceeds	Details of usage	of usage
(i) Further advance the	Approximately HK$39,819,000, being around	By the end of
Company’s R&D	78% of the aggregate net proceeds, will be	2023
programmes, expand its	used for R&D programmes of SN1011, one of
R&D team, build its	the key products of the Group, especially for
commercialisation team,	the Phase II clinical study for neuromyelitis
develop its proprietary	optica spectrum disorder (NMOSD) in China,
technology and enhance its	for the trial expense and related production
full-spectrum platform	cost. Please refer to the Company’s
	announcements dated 14 November 2019, 29
	January 2020, 29 June 2020, 1 September
	2020, 15 January 2021, 24 June 2021, 23 July
	2021, 7 February 2022, 20 April 2022, 9 June
	2022 and 23 August 2022 for further
	information about the latest R&D progress of
	SN1011.
	Approximately HK$3,988,000, being around	By the end of
	8% of the aggregate net proceeds, will be	2023
	used to fund the expansion of R&D team.
	Approximately HK$1,994,000, being around	By the end of
	4% of the aggregate net proceeds, will be	2023
	used to build the Company’s
	commercialisation team, develop its
	proprietary technology and enhance the
	Company’s full-spectrum platform.
(ii) For general working	The remaining net proceeds of approximately	By the end of
capital purpose	HK$5,089,000, being around 10% of the	2023
	aggregate net proceeds, will be used for the
	general working capital of the Group,
	including but not limited to staff employment
	cost and rental and property management
	fees.

Save as the supplemental information in relation to the use of proceeds as disclosed above, all other information contained in the Announcement remains unchanged.

– 2 –

Shareholders and potential investors should note that completion of each of the Subscriptions is subject to fulfillment of the condition under the relevant Subscription Agreement. As the Subscriptions may or may not proceed, Shareholders and potential investors are reminded to exercise caution when dealing in the Shares.

By Order of the Board SinoMab BioScience Limited Dr. Shui On LEUNG

Executive Director, Chairman and Chief Executive Officer

Hong Kong SAR, 7 November 2022

As at the date of this announcement, the executive director of the Company is Dr. Shui On LEUNG, the non-executive directors of the Company are Dr. Haigang CHEN, Mr. Xun DONG, Ms. Wenyi LIU, Ms. Jie LIU and Mr. Lei SHI, and the independent non-executive directors of the Company are Mr. George William Hunter CAUTHERLEY, Mr. Ping Cho Terence HON, Dr. Chi Ming LEE and Mr. Dylan Carlo TINKER.

– 3 –