PharmAbcine signs a CMO contract with Binex so Binex can produce olinvacimab at its new 5,000L production line

DAEJEON,South Korea,Sept. 2,2020 -- PharmAbcine(KRX: 208340ks),a biotech company focusing on the development of antibody therapeutics,announced on August 31 that it had signed a contract manufacturing organization(CMO) agreement with Binex,a leading biologics CDMO(Contract Development and Manufacturing Organization) company in Korea.

With the new contract,Binex will produce Olinvacimab (TTAC-0001),PharmAbcine's leading antibody therapeutics pipeline in oncology,using the new 5,000L production line while it was previously produced in the 1,000L production line. This contract will allow Binex to start the operation of its new 5,000L production line designed for large-scale commercial production.

As for PharmAbcine,this agreement will accommodate more timely and less costly delivery of Olinvacimab for its rapidly expanding list of both clinical and non-clinical studies. The list of studies includes,among others,the global clinical trial for Avastin refractory rGBM(recurrent glioblastoma multiforme) patients,the global combination trial with pembrolizumab for mTNBC(metastatic triple negative breast cancer),the research collaboration with SLBio in China for non-small cell lung cancer therapeutics,multiple investigator-initiated studies planned for solid tumors,etc.

"We are very pleased with this agreement as Binex has been a very reliable clinical manufacturing partner since the very beginning of the clinical trials," said Dr. Jin-San Yoo,CEO of PharmAbcine. "This agreement bodes well with our business strategy of aggressively expanding the indications of our front runner molecule."

About Binex

Binex (053030,KQ) is a biologics contract development and manufacturing organization located in South Korea. It has provided full range services from cell line development to GMP manufacturing for both the drug substance and drug product. CDMO services offered by Binex covers sophisticated analytic services and cGMP manufacturing for IMPs and commercial products (mAb/recombinant protein),leading to successful approval for INDs and BLAs of clients' project. Binex' CDMO capability has already been acknowledged not only by regulatory authorities in advanced countries but also by top pharmaceutical companies who want to in-license and commercialize biologics pipeline manufactured by Binex. For more information,please visit http://www.bi-nex.com.

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 website athttp://www.pharmabcine.com.

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