Boan Biotech Grants AstraZeneca Exclusive Rights to Promote Boyounuo(R) (Bevacizumab Injection) in Specific County Markets of China

SHANGHAI,May 26,2021 -- Luye Pharma Group announced today that its holding subsidiary,Boan Biotech,has signed an agreement with AstraZeneca China regarding the promotion rights to the anticancer drug Boyounuo®(Bevacizumab Injection),under which the former will grant to the latter exclusive promotion rights in the county markets across 21 provinces,municipalities and autonomous regions of China.

Singing Ceremony; From left to right: Ms. Hua Jiang,Chief Executive Officer of Boan Biotech; Mr. Haochen Du,Vice President of AstraZeneca China,Head of County Business

The partnership is based on integrating the strengths and resources of both companies at various levels of markets in China. Boan Biotech will coordinate its own business team,commercial networks and resources in the field of oncology to ensure better access to Boyounuo®for patients in key markets. In addition,Boan Biotech will join hands with AstraZeneca to leverage their many years of broad market coverage and channel development in China,especially at the county level,enabling more patients to benefit from the drug.

Boyounuo®,a bio-antibody drug developed by Boan Biotech was recently approved for marketing by China's National Medical Products Administration,for treating advanced,metastatic or recurrent non-small-cell lung cancer and metastatic colorectal cancer. To make it available to patients as quickly as possible,the company arranged the delivery of the first batch of product within ten days of announcing the official approval. Prescriptions have been issued in many cities across the country.

Ms. Hua Jiang,Chief Executive Officer of Boan Biotech said: "AstraZeneca has a broad range of innovative resources and a global network with years of development experience in the oncology therapeutic field and county markets. Our strategic collaboration with AstraZeneca provides an important supplement and extension to the commercial network for Boyounuo®. We will leverage our respective strengths in channels and patient coverage at multiple market levels,as well as explore active collaboration opportunities in overseas markets,to provide high-quality and affordable drugs for more patients."

Mr. Leon Wang,Executive Vice President,International and China President at AstraZeneca said: "At AstraZeneca,patients are at the centre of everything we do. Deeply rooted in China county areas for many years,we work with various parties to ensure more patients benefit from innovative holistic disease management solutions. Boan Biotech is a comprehensive biopharmaceutical company with capabilities across the industry value chain,as well as excellent R&D and manufacturing teams. With their position as a leading local company,we are delighted to be working together and looking forward to our close collaboration in the future,bringing more innovative solutions to patients at the county level and expanding on continued efforts to meet the growing health needs in China."

About Boan Biotech

As a holding subsidiary of Luye Pharma Group,Boan Biotech is a fully integrated biopharmaceutical company that specializes in therapeutic antibody development,manufacturing and commercialization with a focus on oncology,immunology,pain,and endocrine diseases. Boan Biotech's antibody discovery work is based on three technology platforms: Human Antibody Transgenic Mouse and Phage Display Technology,Bispecific T-cell Engager Technology,and ADC Technology. Through leveraging its efficient and innovative capabilities,the company has developed more than 10 innovative antibody product candidates with international intellectual property protection,and 8 biosimilar products.

Boan Biotech has expertise in the full industry chain: antibody generation,lead optimization,cell line development,process development,technology transfer,pilot production,and commercial manufacturing. The company is also actively exploring other cutting-edge technologies. Its cell therapy products use non-viral vectors for CAR-T for late stage solid tumors. Boan Biotech is also developing new generation of universal CAR-T and switchable CAR-T,to develop safer,effective and affordable products for patients. Outside of China,Boan Biotech also pursues biopharmaceutical products development in the US and EU markets.

About Luye Pharma Group

Luye Pharma Group (Luye Pharma)is an international pharmaceutical company dedicated to the R&D,manufacturing and sale of innovative medications. The company has established R&D centers in China,the U.S. and Europe,with a robust pipeline of over 30 drug candidates in China and more than 10 drug candidates in other international markets. Along with a number of new drugs and new formulations in the central nervous system and oncology therapeutic areas understudyin the U.S. Europe and Japan,Luye Pharma has reached high-level international standards in novel drug delivery technologies including microspheres,liposomes,and transdermal drug delivery systems,as well as actively makingstrategic developments in the fields of biological antibodies,cell therapies and gene therapies,among others.

Luye Pharmais developing a global supply chain of 8 manufacturing sites with over 30 production lines in total,establishing GMP quality management and international standard control systems. With more than 30 products covering the central nervous system,oncology,cardiovascular,metabolism and other therapeutic areas,business is conducted in over 80 countries and regions around the world,including the largest pharmaceutical markets - China,the U.S.,Europe and Japan,as well as in fast growing emerging markets.

About AstraZeneca

AstraZeneca (LSE/STO/Nasdaq: AZN) is a global,science-led biopharmaceutical company that focuses on the discovery,development and commercialisation of prescription medicines,primarily for the treatment of diseases in three therapy areas - Oncology,Cardiovascular,Renal & Metabolism,and Respiratory & Immunology. Based in Cambridge,UK,AstraZeneca operates in over 100 countries and its innovative medicines are used by millions of patients worldwide.

About AstraZeneca in China

Since entering China in 1993,AstraZeneca has been committed to meeting China's increasing healthcare needs by continuously following the science and focusing on innovation,becoming China's most trusted healthcare partner bringing forth innovative solutions to improve the lives of Chinese patients. AstraZeneca's China headquarters are located in Shanghai,with regional headquarters in Beijing,Guangzhou,Wuxi,Hangzhou,and Chengdu respectively. The company has over 18,000 employees throughout China. We've established manufacturing sites in Wuxi and Taizhou,Jiangsu,as well as a China Distribution Centre in Wuxi. In China,AstraZeneca focuses on therapeutic areas that local patients' needs most: respiratory,metabolic,gastrointestinal and renal disease. In 2017,China Healthcare Internet of Things Innovation Center was established in Wuxi,with the aim to explore innovative IoT-based integrated diagnosis and treatment solutions. In the same year,AstraZeneca cooperated with SDIC Fund in establishing Dizal Pharmaceutical so as to accelerate local development of innovative medicines. In 2019,AstraZeneca announced to co-build Wuxi International Life Science Innovation Campus with Wuxi government to bring global wisdom for patients in China. It also announced to establish the Global R&D (China) and the Global Healthcare Industrial Fund. In 2020,AstraZeneca announced to support the "I∙Hospital" project.