Data on NASH Candidate ASC40 to be Presented at EASL ILC 2020

HANGZHOU and SHAOXING,China,April 1,2020 -- Ascletis Pharma Inc. (HKEX code: 1672) announces today that its partner Sagimet Biosciences (formerly 3-V Biosciences,Inc),will present clinical and preclinical data on non-alcoholic steatohepatitis (NASH) drug candidate TVB-2640 (Ascletis code: ASC40)at the upcoming European Association for the Study of the Liver (EASL) International Liver Congress™ 2020 (ILC) in London,which has been postponed to 25-28 August.

In February 2019,Sagimet Biosciences and Ascletis entered into an exclusive license agreement,under which Sagimet Biosciences granted Ascletis an exclusive license to develop,manufacture and commercialize ASC40 and related compounds in Greater China.

About Ascletis

Ascletis is an innovative R&D driven biotech with two commercial products and listed on Hong Kong Stock Exchange (Ascletis,1672.HK). Ascletis is committed to developing and commercializing antiviral,steatohepatitis,and tumor-related innovative drugs for unmet medical needs in China and Globally. Led by a management team with deep expertise and a proven track record,Ascletis has developed into a fully integrated platform covering the entire value chain from discovery and development to manufacturing and commercialization. Ascletis' pipeline is focused primarily on three therapeutic areas: 1. HCV: one commercial stage product,one near commercial stage drug and two R&D stage drug candidates. Ganovo® (Danoprevir) is the first direct-acting anti-viral agent for hepatitis C,developed by a domestic firm in China. 2. HBV: one commercial stage product and three R&D stage drug candidates. Pegasys® (Peginterferon alfa-2a) is a leading marketed pegylated interferon for hepatitis B&C partnered with Roche. 3. NASH (Non-Alcoholic SteatoHepatitis): three R&D stage drug candidates against three different targets for combination treatments. For more information,please visit www.ascletis.com.