Priority Review Granted to Ascentage Pharma's New Drug Application for Olverembatinib (HQP1351), the First Third-Generation BCR-ABL Inhibitor in China

SUZHOU,China and ROCKVILLE,Md.,Oct. 21,2020 -- Ascentage Pharma (6855.HK),a globally focused,clinical-stage biotechnology company engaged in developing novel therapies for cancers,chronic hepatitis B (CHB),and age-related diseases,today announced that the Center for Drug Evaluation (CDE) of China's National Medical Products Administration (NMPA) has granted Guangzhou Healthquest Pharma Co.,Ltd,a wholly-owned subsidiary of the company,priority review to its New Drug Application (NDA) for Olverembatinib (HQP1351). The NDA of Olverembatinib was submitted based on results from two pivotal studies for the treatment of patients resistant to tyrosine kinase inhibitors (TKI) and with T315I-mutant chronic phase chronic myeloid leukemia and accelerated phase CML.

Priority review status accelerates research and development of innovative drugs with significant clinical advantages and for which there is an urgent medical need. According to theProvisions for Drug Registration(SAMR Order No. 27) and Working Procedures for Priority Review and Approval of Drug Marketing Authorization (Interim) (No. 82 of 2020) implemented on July 1,and July 7,2020,respectively,the regulatory authority will prioritize the review process and evaluation resources for applications with expected shorter review timelines,which helps accelerate the market access of these innovative drugs.

CML is a hematologic malignancy of the white blood cells. BCR-ABL TKI have significantly improved the clinical management of CML. However,despite clinical benefits offered by the first-generation BCR-ABL inhibitor imatinib (GLEEVEC®),and several second-generation TKIs,acquired resistance to TKIs remains a major challenge in the treatment of CML. BCR-ABL tyrosine kinase mutations represent a key mechanism of acquired drug resistance; T315I,which is the most common drug-resistant mutation,occurs in about 25% of patients with drug-resistant CML. Patients with T315I-mutant CML are resistant to both first- and second-generation BCR-ABL inhibitors,presenting an urgent unmet medical need for effective treatment.

Olverembatinibis a novel,orally active,potent third-generation BCR-ABL inhibitor designed to effectively target BCR-ABL mutants,including T315I,and the firstChina-developed third-generation BCR-ABL inhibitor targeting drug-resistant CML. InJuly 2019,HQP1351 was cleared by the US Food and Drug Administration (FDA) to enter a Phase Ib clinical study. InMay 2020,Olverembatinib was granted an Orphan Drug Designation and a Fast Track Designation for treating CML with specific genetic characteristics by the FDA.

"Olverembatinibis the drug candidate of Ascentage Pharma's first NDA submission,which will become the first third-generation BCR-ABL inhibitor therapeutics inChina," said Dr. Yifan Zhai,Chief Medical Officer of Ascentage Pharma. "This priority review granted to Olverembatinib will help expedite the approval process,hopefully soon changing the current treatment options for patients with CML in China who cannot be effectively treated by currently available TKIs. We hope Olverembatinib will soon be approved to benefit more patients."

About Ascentage Pharma

Ascentage Pharma (6855.HK) is a globally,CHB,and age-related diseases. On October 28,2019,Ascentage Pharma was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 6855.HK.

Ascentage Pharma focuses on developing therapeutics that inhibit protein-protein interactions to restore apoptosis or programmed cell death. The company has built a pipeline of eight clinical drug candidates,including novel,highly potent Bcl-2,and dual Bcl-2/Bcl-xL inhibitors,as well as candidates aimed at IAP and MDM2-p53 pathways,and next-generation tyrosine kinase inhibitors. Ascentage Pharma is also the only company in the world with active clinical programs targeting all three known classes of key apoptosis regulators. The company is conducting more than 40 Phase I/II clinical trials in the US,Australia,and China. HQP1351,the company's core drug candidate developed for the treatment of drug-resistant chronic myeloid leukemia has been granted Orphan Drug and Fast Track designations by the US Food and Drug Administration (FDA),and a New Drug Application for the drug candidate has been submitted in China. Ascentage Pharma has obtained a total of six ODDs from the FDA for four of the company's investigational drug candidates.

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