Innovent Announces License Agreement with Synaffix in an ADC Technology Deal

SAN FRANCISCO and SUZHOU,China,June 29,2021 --Innovent Biologics,Inc. (Innovent) (HKEX: 01801),a world-class biopharmaceutical company that develops,manufactures and commercializes high-quality medicines for the treatment of cancer,metabolic,autoimmune and other major diseases,announced the signing of a non-exclusive,target-specific license agreement with Synaffix B.V.,a biotechnology company focused on commercializing its clinical-stage platform technology that enables antibody-drug conjugates (ADCs) with best-in-class therapeutic index.

Under the terms of the agreement,Synaffix will provide all the necessary proprietary ADC technologies including GlycoConnect™,HydraSpace™ and one of its toxSYN™ linker-payloads,to enable Innovent to rapidly progress one of its antibodies as a best-in-class ADC candidate. The deal is the culmination of a successful initial proof-of-concept research period between the companies.

Upon signature,Innovent is granted the rights to deploy the above ADC technologies for one therapeutic molecule. Innovent will be responsible for the research,development,manufacturing and commercialization of the ADC product. Synaffix will closely support Innovent's research activities and will be responsible for the manufacturing of components that are specifically related to its proprietary technologies.

Under the terms of the agreement,Synaffix is eligible to receive upfront payment,potential milestone payments related to certain development and sales performance achievements as well as royalties based on potential future commercial sales of the ADC product.

Dr. Yongjun Liu,President of Innovent said,"We are excited to collaborate with Synaffix as Innovent is expanding its pipeline into the ADC space. Our collaboration with Synaffix adds a promising new ADC candidate to our preclinical pipeline through leveraging Synaffix's validated,differentiated and innovative ADC technology platform and Innovent's strong antibody capabilities. Based on Synaffix's seamless partnering model,we could rapidly combine Synaffix's ADC technologies with Innovent's antibody,generate compelling research data and keep moving the project ahead swiftly."

Peter van de Sande,CEO of Synaffix said,"This collaboration is yet another example that illustrates the potential of the Synaffix platform to increase the competitive position of our partners within the ADC space. Innovent is an ideal partner for Synaffix due to its strategic focus on innovative medicines and strong R&D capability for high quality biologic drugs. We look forward to working closely together on this exciting development program."

About Innovent

Inspired by the spirit of "Start with Integrity,Succeed through Action," Innovent's mission is to develop,manufacture 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,metabolic 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 24 valuable assets in the fields of cancer,autoimmune disease and other major therapeutic areas,with 5 products – TYVYT® (sintilimab injection),BYVASDA® (bevacizumab biosimilar injection),SULINNO®(adalimumab biosimilar injection),HALPRYZA® (rituximab biosimilar injection) and PEMAZYRE® (pemigatinib oral inhibitor) – officially approved for marketing,sintilimab's Biologics License Application (BLA)acceptance in the U.S.,5 assets in Phase 3 or pivotal clinical trials,and an additional 14 molecules in clinical trials. In 2019,TYVYT® was the first PD-1 inhibitor included in the National Reimbursement Drug List (NRDL) and the only PD-1 inhibitor included in the NRDL in that year.

Innovent has built an international team with advanced talent in high-end biological drug development and commercialization,including many global experts. The company has also entered into strategic collaborations with Eli Lilly and Company,Adimab,Incyte,MD Anderson Cancer Center,Hanmi and other international partners. Innovent strives to work with many collaborators to help advance China's biopharmaceutical industry,improve drug availability and enhance the quality of the patients' lives. For more information,please visit: www.innoventbio.com.

About Synaffix B.V.

Synaffix B.V. is a biotechnology company that enables ADC product candidates using its clinical-stage,site-specific ADC technology platform. In addition to GlycoConnect™ and HydraSpace™ technology,the toxSYN™ linker-payload platform rounds out a fully complementary technology platform that enables any company with an antibody to develop proprietary best-in-class ADC products under a single license from Synaffix.

The Synaffix platform enables a rapid timeline to clinic due to the established supply chain of technology components. Granted patents covering Synaffix's technology provide end-to-end protection of the manufacturing technology as well as the resulting products through at least 2035. The business model of Synaffix is target-specific technology out-licensing,as exemplified through its existing deals with ADC Therapeutics,Mersana Therapeutics and Shanghai Miracogen.

Synaffix is backed by a top tier,European,life science-focused investor syndicate that includes Aravis,BioGeneration Ventures,BOM Capital and M Ventures.

For more information,please visit the website at www.synaffix.com.

Note: TYVYT® (sintilimab injection)，BYVASDA® (bevacizumab biosimilar injection),SULINNO® (adalimumab biosimilar injection) andHALPRYZA® (rituximab biosimilar injection)are not approved in the United States.

Innovent Biologics,Inc. Forward-Looking Statements

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