Gracell Biotechnologies Hosting Key Opinion Leader Webinar on High Risk Multiple Myeloma, Treatment Challenges and Dual-Targeting CAR-T with Overnight Manufacturing - a Novel Approach for Treatment of Multiple Myeloma

SUZHOU,China and PALO ALTO,Calif.,May 26,2021 -- Gracell Biotechnologies Inc. (NASDAQ: GRCL) ("Gracell"),a global clinical-stage biopharmaceutical company dedicated to discovering and developing highly efficacious and affordable cell therapies for the treatment of cancer,today announced that it will host a key opinion leader (KOL) webinar on the challenges of treating High Risk Multiple Myeloma and a potential novel approach on Friday,June 11,2021 at 8:00am Eastern Time.

The call will feature a presentation by Dr. Andrzej Jakubowiak,University of Chicago Medicine,who will give an overview on the current treatment landscape and unmet medical need in treating patients with high-risk multiple myeloma. Dr. Martina Sersch,Chief Medical Officer of Gracell,will present clinical data of GC012F,a BCMA/CD19 dual-targeting CAR-T therapy for multiple myeloma manufactured on Gracell's proprietary FasTCARovernight manufacturing platform.

Following the formal presentations,there will be a fireside chat moderated by Neil Canavan of LifeSci Advisors and Author of "The Cure Within" with Dr. Jakubowiak and members of the Gracell management team who will discuss various topics related to the FasTCAR technology platform and the lead clinical program GC012F,a BCMA/CD19 dual-targeting CAR-T therapy. FasTCAR is Gracell's autologous CAR-T platform that tackles the most pressing challenges associated with autologous therapies,including lengthy manufacturing time,suboptimal manufacturing quality,high therapy cost,and poor T cell fitness.

A live Q&A session will follow the formal presentations and fireside chat.

To register for the event,please click here.

About the KOL

Andrzej Jakubowiak,M.D.,Ph.D.,is an internationally known expert on multiple myeloma,a cancer of the plasma cells in a patient's bone marrow. He works closely with the Multiple Myeloma Research Consortium (MMRC) to bring the latest treatments to the patient's bedside as quickly as possible.

Dr. Jakubowiak's primary research focus is in the development of new drugs for the treatment of multiple myeloma. He is currently the lead investigator on a number of multi-site clinical trials for patients who are newly diagnosed,have relapsed,or have refractory (resistant to treatment) disease. Dr. Jakubowiak has received research funding and several grants from the MMRC. He is also the recipient of many honors,including the Myeloma Center of the Year award by the MMRC in 2008 and 2010.

A frequently invited lecturer,Dr. Jakubowiak has presented his research findings at medical meetings around the world. He has published more than 50 peer-reviewed articles as well as 14 book chapters. Additionally,he serves as an ad hoc reviewer for several scientific journals,including the Journal of Clinical Oncology,Blood and Leukemia and Lymphoma.

About GC012F

GC012F is a FasTCAR-enabled dual-targeting CAR-T product candidate that is currently being studied in an ongoing investigator-initiated Phase 1 trial across multiple centers in China for the treatment of MM. GC012F tackles MM by simultaneously targeting both malignant plasma cells expressing BCMA and early progenitor cells expressing CD19 in order to drive fast,deep and durable responses in MM patients.

About FasTCAR

CAR-T cells manufactured on Gracell's proprietary FasTCAR platform appear younger,less exhausted and show enhanced proliferation,persistence,bone marrow migration and tumor cell clearance activities as demonstrated in preclinical studies. Withovernight manufacturing,FasTCAR is able to significantly improve cell production efficiency which may result in meaningful cost savings,increasing the accessibility of cell therapies for cancer patients.

About Gracell

Gracell Biotechnologies Inc.("Gracell") is a global clinical-stage biopharmaceutical company dedicated to discovering and developing breakthrough cell therapies. Leveraging its pioneering FasTCAR and TruUCAR technology platforms,Gracell is developing a rich clinical-stage pipeline of multiple autologous and allogeneic product candidates with the potential to overcome major industry challenges that persist with conventional CAR-T therapies,suboptimal production quality,high therapy cost and lack of effective CAR-T therapies for solid tumors. For more information on Gracell,please visit www.gracellbio.com

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Statements in this press release about future expectations,plans and prospects,as well as any other statements regarding matters that are not historical facts,may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include,but are not limited to,statements relating to the expected trading commencement and closing date of the offering. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements,although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors,including factors discussed in the section entitled "Risk Factors" in Gracell's most recent annual report on Form 20-F as well as discussions of potential risks,uncertainties,and other important factors in Gracell's subsequent filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof,and Gracell specifically disclaims any obligation to update any forward-looking statement,whether as a result of new information,future events or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

Media contact

Marvin Tang

marvin.tang@gracellbio.com

Investor contact

Gracie Tong

gracie.tong@gracellbio.com

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