PharmAbcine Announces Joint Patent Application with MSD for the Treatment of Cancer

DAEJEON,South Korea,Sept. 9,2021 -- PharmAbcine Inc. (KOSDAQ: 208340ks),a clinical-stage biotech company focusing on the development of next-generation antibody therapeutics,today announced it submitted a Patent Cooperation Treaty (PCT) application for the combination therapy of olinvacimab,the Company's anti-VEGFR2 antibody,and KEYTRUDA® (pembrolizumab),MSD's anti-PD-1 antibody,for the treatment of cancer.

The PCT application is an international application that preserves the priority date. The PCT is an international treaty that has over 150 Contracting States worldwide. It assists applicants in seeking patent protection internationally for their inventions,helps patent offices with their patent granting decisions,and facilitates public access to a wealth of technical information relating to those inventions.

The application,which was submitted jointly with MSD,is based on the Phase Ib olinvacimab and pembrolizumab combo trial in metastatic Triple-Negative Breast Cancer (mTNBC). According to the interim result presented at San Antonio Breast Cancer Symposium (SABCS) 2020,the combo therapy showed encouraging efficacy data,including 50% Overall Response Rate (ORR) and 67% Disease Control Rate (DCR) in the high-dose olinvacimab (16mg/kg) cohort (n=6pts).

mTNBC is a highly malignant type of cancer that shows a high recurrence rate within the first five years after the diagnosis. mTNBC accounts for 15-20% of all breast cancers and shows a 5-year survival rate ofapproximately11%. Unlike some other breast cancers,mTNBC does not express estrogen or progesterone receptors or human epidermal growth factor receptor 2 (HER2),and it does not respond to existing cancer drugs designed to target these markers. mTNBC is very difficult to treat,and there are very few FDA approved treatment options for these patients.

Olinvacimab,an anti-VEGFR2 (Vascular Endothelial Growth Factor Receptor 2) fully human antibody,is the Company's leading pipeline and is undergoing multiple global clinical trials. In early September 2021,PharmAbcine initiated a Phase II olinvacimab and pembrolizumab combo study for the treatment of mTNBC (metastatic Triple-Negative Breast Cancer) in Australia. Also,a Phase II olinvacimab mono study forbevacizumab-nonresponding rGBM (recurrent glioblastomamultiforme) patients at multiple sites in both US andAustralia and two Phase Ib olinvacimab and pembrolizumab combo trials in mTNBC and rGBM in Australia are still ongoing.

"Submission of this patent application will be our first step in securing the novelty of the combo therapy." said Dr.Jin-San Yoo,CEO of PharmAbcine. "We will move onto getting our patent secured in multiple countries with great needs for a cancer treatment."

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 Team

E-mail: bd@pharmabcine.com

Office line: +82 70 4279 5100

For 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 2632

Sungjun Park,Associate

E-mail: sungjun.park@pharmabcine.com

Office line: +82 70 4270 2637

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