Innovation Drives Excellence, Innovent Successfully Held 2020 Virtual R&D Day

SAN FRANCISCO and SUZHOU,China,Nov. 11,2020 -- Innovent Biologics,Inc. ("Innovent") (HKEX: 01801),a world-class biopharmaceutical company that develops,manufactures and commercializes high quality medicines for treatment of oncology,metabolic,autoimmune and other major diseases,announces that on November 10,the company successfully held its 2020 Virtual R&D day with the theme 'Innovation Drives Excellence'. Senior management team led by Dr. Michael Yu,the founder,Chairman and CEO,attended and presented on the virtual R&D day via live video webcast. The event was held in one Chinese session and one English session,with more than 700 investors and analysts watched the webcast and communicated with management team about R&D and other business updates through Q&A.

During the introduction presentation,Dr. Michael Yu reviewed the history and achievements in the past nine years since the establishment of Innovent. Growing into a biopharmaceutical company,Innovent has built an integrated platform covering from drug discovery,CMC,clinical development and commercialization. In addition,Dr. Yu described two key strategic goals of Innovent in the next 5-10 years,i.e.,to develop and launch global first-in-class products as well aslead Innovent to the global stage,in order to achieve Innovent's long-term vision to "become a premier biopharmaceutical company in the world".

Notably,Dr. Yong-Jun Liu,the newly appointed President of Innovent also made his first public appearance on the virtual R&D day. Dr. Liu shared his over 30 years of R&D experience in drug development both in the global pharmaceutical companies and world renowned scientific research institutions. By joining Innovent,Dr. Liu will be responsible for global R & D,pipeline strategy,business development and international operations. Dr. Liu mentioned that he will utilize his knowledge,past experience and worldwide network to lead Innovent into the new decade with even better achievement and grow the company into a truly global first class biopharmaceutical company.

Following the speech of Dr. Michael Yu and Dr. Yong-Jun Liu,senior executives of Innovent R&D team,including Dr. Junjian Liu,vice president (VP) of new drug research,Dr. Wei Xu,VP of translational medicine,Dr. Hui Zhou,VP of medical science,and Dr. Lei Qian,senior director of medical science,discussed the key pipeline and R&D strategy of Innovent in detail. Innovent has established a robust pipeline of 23 valuable assets,including four launched products,four products in pivotal trials,and multiple prioritized assets such as CD47,PDL1/CD47,TIGIT,VEGF/complement protein etc. that are fast progressing clinical trials. In addition,in order to achieve next level strategic goal of developing global first-in-class product in 5-10 years,Innovent Academy has been established. As the powerful discovery engine of the company,Innovent Academy is committed to focusing on the first-in-class innovation with unmet medical need.

Following the R&D part,a Q&A panel was held to discuss about the overall business of Innovent,including strategy,R&D,commercialization,production,financial and business development (BD). Chairman and CEO Dr. Michael Yu,President Dr. Yong-Jun Liu,Chief Financial Officer Mr. Ronnie Ede,Chief Commercial Officer Mr. Min Liu,senior VP of manufacturing Mr. Hong Pan,and VP of BD Mr. Blake Salisbury,attended the panel and responded to the questions raised by investors and analysts online.

Innovent 2020 Virtual R&D day was successfully held with a lot of attention from domestic and overseas investors. In the future,the company will further strengthen our R&D capability,establish global R&D platform and team in order to develop more potential First-in-class drugs,advance the process of new drug application and commercialization,and accelerate Innovent's innovation and globalization strategies. Innovent is determined to be a premier biopharmaceutical company in the world with our mission to develop and commercialize more high quality biologics that are affordable to ordinary people.

About Innovent

Inspired by the spirit of "Start with Integrity,Succeed through Action," Innovent's mission is to develop and commercialize high quality biopharmaceutical products that are affordable to ordinary people. Established in 2011,Innovent is committed to developing,manufacturing and commercializing high quality innovative medicines for the treatment of cancer,autoimmune and other major diseases. On October 31,2018,Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.

Since its inception,Innovent has developed a fully-integrated multi-functional platform which includes R&D,CMC (Chemistry,Manufacturing,and Controls),clinical development and commercialization capabilities. Leveraging the platform,the company has built a robust pipeline of 23 valuable assets in the fields of cancer,autoimmune diseases and other major therapeutic areas,with four products,TYVYT® (sintilimab injection),BYVASDA® (bevacizumab biosimilar injection),SULINNO® (adalimumab biosimilar injection),HALPRYZA® (rituximab biosimilar injection) officially approved for marketing in China,four assets in Phase 3 or pivotal clinical trials,and additional 15 molecules in clinical trials. TYVYT® is the only PD-1 inhibitor included in the NRDL.

Innovent has built an international team with expertise in cutting-edge biological drug development and commercialization. The company has also entered into strategic collaborations with Eli Lilly and Company,Roche,Adimab,Incyte,MD Anderson Cancer Center,Hanmi and other international partners. For more information,please visit: www.innoventbio.com.

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