Harbour BioMed Completes Its Global Offering and Listing on the Hong Kong Stock Exchange

CAMBRIDGE,Mass. and SUZHOU,China,Dec. 17,2020 -- HBM Holdings Limited ("Harbour BioMed","HBM" or the "Company"; Stock Code: 02142.HK),a global clinical-stage biopharmaceutical company,completed its global offering (the "Global Offering") and its listing on the Main Board of the Stock Exchange of Hong Kong Limited (the "Stock Exchange").The number of offer shares under the Global Offering is a total of 138,221,000 shares at a price of HK $12.38 per share,raising HK$1,711 million (USD$221 million) in total (before exercise of the over-allotment option in connection with the Global Offering). The offering was completed on December 10th,2020.

The Company will apply the net proceeds from the Global Offering to develop and commercialize its three anchor products,to fund ongoing and planned clinical trials,preparation for registration filings and potential commercialization of other drug candidates in the Company's pipeline,to fund the Company's business development activities and the expansion of its drug pipeline,and for working capital and general and administrative purposes.

Harbour BioMed was established approximately four years ago and has already built a portfolio of risk mitigated late and early-stage assets that are driven by robust clinical development programs,a rich pipeline in immunology and oncology,and a team with global R&D and commercial experience. HBM raised more than US$300 million in its pre-IPO financing. Morgan Stanley Asia Limited,Merrill Lynch Far East Limited and CLSA Capital Markets Limited are the Joint Sponsors. Morgan Stanley Asia Limited,Merrill Lynch (Asia Pacific) Limited and CLSA Limited,China International Capital Corporation Hong Kong Securities Limited and Credit Suisse (Hong Kong) Limited are the Joint Global Coordinators.

There were nine cornerstone investors including BlackRock Fund,HBM Healthcare,Hillhouse Capital,Hudson Bay Capital,Octagon Investments,Anlan Fund,Legend Capital,OrbiMed Fund and 3W Capital.

The Company used fully electronic application process for the Hong Kong public offering,which is consistent with the way in which the Company's users and stakeholders engage and interact with each other and the Company. The prospectus is available at the website of Hong Kong Stock Exchange at www.hkexnews.hk and the Company's website at https://www.harbourbiomed.com/investor.

"We have built a differentiated portfolio in oncology and immunological diseases using distinctive strategies with the mission of addressing the unmet patients' needs across the world. Leveraging one the industry-leading antibody platforms – the Harbour Mice®,and combining them with newer and innovative technologies,we aim to drive the overall innovation in the industry to deliver next-generation of therapies to patients. We look forward to working with our employees,industry partners and the society to build a bright future for the global biomedical industry thereby bringing health and hope to patients and families around the world" said Dr. Jingsong Wang,Executive Director,Chief Executive Officer,Founder and Chairman of the Board of Directors,Harbour BioMed.

About Harbour BioMed

Harbour BioMed is a clinical-stage biopharmaceutical company engaged in the discovery and development of differentiated antibody therapeutics in immunology and oncology disease areas. The company is building its pipeline through internal R&D programs and collaborations with co-discovery and co-development partners.

The company's internal discovery programs are centered around its two patented transgenic mouse platforms (Harbour Mice®) for generating both fully human monoclonal antibodies and heavy chain only antibodies (HCAb) and HBICE™ immune cell engager technology for developing bispecific antibodies. Harbour BioMed also licenses the platforms to companies and academic institutions. The company has operations in Cambridge,Massachusetts; Rotterdam,The Netherlands; and Suzhou & Shanghai,China. For more information,please visit www.harbourbiomed.com

This press release is NOT for release,publication,distribution,directly or indirectly,in or into the United States (including its territories and possessions,any state of the United States and the District of Columbia) or any other jurisdiction where such distribution is prohibited by law. This press release does not constitute and is not an offer to sell or an invitation or solicitation of an offer to buy or subscribe for,any securities of HBM Holdings Limited (the "Company") in Hong Kong,in the United States or elsewhere. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933,as amended (the "U.S. Securities Act"),or the securities laws of any state of the United States and may not be offered or sold in the United States except pursuant to an applicable exemption from,or in a transaction not subject to,the registration requirements of the U.S. Securities Act.

You are cautioned not to place any undue reliance on the forward-looking statements (if any) contained herein. The Company can give no assurance that these forward-looking statements will prove to have been correct. These forward-looking statements are not a guarantee of future performance and are subject to certain risks,uncertainties,and assumptions. Expectations reflected in these forward-looking statements are subject to change and the Company undertakes no obligation to update or revise any forward-looking statements herein.