PharmAbcine Announces Encouraging Non-clinical Data of PMC-403 at the Association for Research in Vision and Ophthalmology (ARVO) 2021 Annual Meeting

DAEJEON,South Korea,May 10,2021 -- PharmAbcine Inc. (KOSDAQ: 208340ks),a clinical-stage biotech company focusing on the development of antibody therapeutics,announced today that the company presented an e-poster featuring non-clinical data of PMC-403 at the Association for Research in Vision and Ophthalmology (ARVO) 2021 Annual Meeting on May 5th.

PMC-403 is the company's novel agonistic antibody that directly activates Tie2 receptors on endothelial cells. Once the molecule binds to the receptors,it promotes the stabilization of leaky blood vessels. This mode of action allows PMC-403 to be a potent therapeutic drug for many non-ocular and ocular pathological vessel-related diseases.

The non-clinical data was obtained from laser-induced Choroidal Neovascularization (CNV) animal models which are widely used for studies in neovascular ophthalmological diseases such as age-related macular degeneration (AMD).

The studies highlight that PMC-403 reduces the size of retinal vessel leakages,enhances optic nerve responses,and decreases the level of angiogenesis regulators.

PMC-403 has shown to significantly reduce the size of artificially-created retinal leakages in both mouse and monkey models. The monkey model shows nearly complete disappearance of leakage 42 days after the injection of PMC-403. In the monkey model,the median value of leakages has decreased by nearly 50%. This data gives PMC-403 competitiveness in the ocular disease area because the results are comparable to a control group treated with aflibercept,one of the best-selling drugs in the current market.

PMC-403 also demonstrates enhanced optic nerve responses in electroretinography (ERG),a diagnostic test that measures electrical activities of the retina to a light stimulus. The neural responses in patients with neovascular ophthalmological diseases are low because retinal leakages increases intraocular pressure and damage optic nerves. The ERG data from the monkey model reveals that PMC-403 increases the median value of retinal response by nearly 200% compared to the control group. These numbers carry an important meaning because PMC-403 shows better response rates than the aflibercept-treated group and suggest PMC-403 as a more viable therapeutic option to help patients restore impaired vision.

The gene expression studies from the experimental monkeys show that PMC-403 decreases the level of angiogenesis regulators such as Angiopoietin-2 (ANG2) and Vascular Endothelial Growth Factor (VEGF). Both ANG2 and VEGF are secreted at high levels by vessel leakages from neovascular diseases. They act as inhibitors of vessel stabilization and promoters of more leaky blood vessels which further worsen the disease. It is found that PMC-403 lowers the levels of ANG2 by nearly 80% and VEGF almost by half. The data indicates that PMC-403,even with its distinct mechanism,also performs a similar role to other marketed drugs that target angiogenesis regulators and stops further leakages and the progression of the disease.

"Unlike most marketed drugs that specifically target VEGF-A,PMC-403 has a unique mode of action that targets Tie2 receptors and does not overlap with other drugs," saidDr.Jin-San Yoo,CEO of PharmAbcine. "Based on the encouraging data we presented at this meeting,we believe that PMC-403 can replace other drugs in the market and at the same time,provide an excellent therapeutic option for patients who show low response rates or developed resistance to the existing drugs."

Dr. Yoo also added,"PMC-403,with its vessel normalizing mechanism,can expand its indications not just in ophthalmology,but also in pulmonology,nephrology,and even oncology. As of now,the IND (Investigational New Drug)-enabling studies are currently underway to evaluate the potential toxicity risk in eye diseases. We expect PMC-403 to enter a phase I clinical trial in 2022."

Both the abstract and the e-poster are currently available on the ARVO website. The details of the presentation are as follows:

Presentation Details

Presentation Type: Poster Session

Presentation Title: A Novel Tie2 activating monoclonal antibody ameliorates the lesion of choroidal neovascularization in monkey and mouse

Session Title: CNV

Abstract #:3538580

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 from oncology,immuno-oncology,ophthalmology,pulmonology,to renal pathology.PharmAbcine has its own HuPhage library and innovative selection system. PharmAbcine's advanced 3G expression system accommodates high levels of antibody production and steady reproducibility. With these cutting-edge technology platforms,it provides state-of-the art antibody generation services.PharmAbcine also has unique knowhow in the area of the antibody production,early drug development,and clinical development.For additional information about PharmAbcine,visit http://www.pharmabcine.comor follow us on Youtubeand Linkedin.For licensing deals,co-development,and collaboration in research or antibody discovery inquiries,please contact:Business Development TeamE-mail: bd@pharmabcine.com

Officeline: +82 70 4279 5100For investor relations and public relations inquiries,please contact:IR/PR Team

Paul Kim,Chief Financial Officer

E-mail: paul.kim@pharmabcine.com

Office line: +82 70 4270 2632Sungjun Park,Associate

E-mail: sungjun.park@pharmabcine.com

Office line: +82 70 4270 2637

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