PharmAbcine execute an agreement with Thermo Fisher for the development and manufacturing of its next-generation immune checkpoint blockade, PMC-309 for Phase I

DAEJEON,SouthKorea,June 10,2020 -- PharmAbcine Inc. (KOSDAQ: 208340ks) entered into a strategic partnership with Thermo Fisher Scientific for the development and manufacturing of PMC-309,a next-generation immune checkpoint blockade to treat cancer.

Under this agreement,PharmAbcine will take advantage of Thermo Fisher's Quick to Clinic™ integrated service offering,a program that accelerates drug development for IND submission for Phase I.

PMC-309 is a novel fully human monoclonal IgG targeting unique epitope of human VISTA (V-domain Ig suppressor of T cell activation) primarily expressed on MDSC (myeloid-derived suppressor cells). It can provide a promising immunotherapeutic strategy to improve the antitumor activity through inhibition of VISTA-positive immunosuppressive cell activities.

"Due to the limitation of response rate and drug resistance of all marketed PD1/PDL1 targeting immuno oncology drugs,next generation immuno oncology drug with new modality is desperately needed," said Dr. Jin-San Yoo,CEO of PharmAbcine. "We are excited about the progress we have made with PMC-309 and strongly believe that PMC-309 will fulfill the gap in immuno oncology drug landscape."

The drug product of PMC-309 for clinical trial will be developed at Thermo Fisher's Princeton,NJ,USA and the Brisbane's site in Australia will facilitate for the drug substances. PharmAbcine is planning to initiate IND enabling studies this year and submit global IND in 2021.

About PharmAbcine Inc.

PharmAbcine is a clinical-stage biotech company focusing on the development of fully human antibody therapeutics to treat neovascular disorders,tumors,and other medically unmet diseases. It provides therapeutic antibodies for a wide spectrum of indications fromoncology,immuno-oncology,ophthalmology,respiratory,to renal pathology.

PharmAbcine's leading pipeline,olinvacimab,an anti-VEGFR2 neutralizing fully human IgG,is currently in a phase II study forbevacizumab-nonresponding rGBM (recurrent glioblastoma multiforme) patients in both US andAustralia. In collaboration with MERCK,olinvacimab plus pembrolizumab Phase Ib trials for mTNBC and rGBM are on-going.

PharmAbcine has its own HuPhage library and innovative selection system. PharmAbcine's advanced 3G expression systemaccommodates high levels of antibody production with high reproducibility. With its highly advanced technology platforms,it provides high-quality antibody generation services. The high standards have allowed PharmAbcine to expand co-development opportunities with notonly existing but also potential partners.

Additional information about PharmAbcine can be found on our website athttp://www.pharmabcine.com.

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