Everest Medicines, Sinovent and SinoMab Announce Licensing Agreement for Global Development, Manufacturing and Commercialization of Novel BTK Inhibitor in Renal Diseases

SHANGHAI,Sept. 17,2021 --Everest Medicines (HKEX 1952.HK,"Everest") announced today that it has entered into an exclusive licensing agreement with Suzhou Sinovent Pharmaceuticals Co.,Ltd. ("Sinovent") and SinoMab BioScience Limited (stock code: 3681.HK "SinoMab") to develop,produce and commercialize XNW1011 (referred as "SN1011" by SinoMab),a covalent reversible Bruton's tyrosine kinase (BTK) inhibitor,globally for the treatment of renal diseases.

Under the terms of the agreement,Everest will pay Sinovent and SinoMab USD $12 million in initial upfront payments and up to $549 million as future development,regulatory,and commercial milestone payments,as well as high single-digit to low double-digit royalties on global net sales. The agreement will also include full technology transfer of the current manufacturing process to Everest to support future development and commercialization.

XNW1011 (or "SN1011") is a next-generation covalent reversible BTK inhibitor that exhibits high selectivity,excellent pharmacokinetics property,robust target engagement and a safety profile that supports continued development based in part on results from a completed phase 1 study with healthy subjects conducted by SinoMab in China.

"Chronic kidney disease is a leading public health problem worldwide and primary glomerular disease is a common cause of renal damage. B cell abnormalities play a major role in the etiology of a number of primary glomerular diseases which have a high prevalence in Asia." said Kerry Blanchard,MD,PhD,Chief Executive Officer of Everest Medicines. "We are impressed by the data generated from XNW1011 (or "SN1011") to date and are committed to moving this compound quickly into phase 2 studies to explore a number of renal diseases,of which represent a few global first-in-disease opportunities for Everest. This important partnership with Sinovent and SinoMab not only solidifies Everest's leadership in developing novel therapies to combat renal disease,but also underscores our transition to developing novel therapies for the global market by leveraging the vast patient population in Greater China and Asia."

About BTK Inhibitor

Bruton's tyrosine kinase (BTK) is an essential component of the B-cell receptor signaling pathways that regulate the survival,activation,proliferation,and differentiation of B lymphocytes. Targeting BTK with small molecule inhibitors has been demonstrated to be an effective treatment option for B-cell lymphomas and autoimmune diseases.

About Everest Medicines

Everest Medicines is a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products that address critical unmet medical needs for patients in Asia markets. The management team of Everest Medicines has deep expertise and an extensive track record of high-quality clinical development,regulatory affairs,CMC,business development and operationsin Asiaand with leading global pharmaceutical companies. Everest Medicines has built a portfolio of nine potentially global first-in-class or best-in-class molecules and vaccine,many of which are in late stage clinical development. The Company's focused areas of interest include oncology,autoimmune disorders,cardio-renal diseases and infectious diseases. For more information,please visit its website atwww.everestmedicines.com.

About Sinovent

Sinovent is a global biopharmaceutical company focused on discovery,development,and commercialization of innovative medicines to address significant unmet clinical needs. Headquartered in Suzhou,China,the Company has established a highly efficient,fully integrated global R&D organization with presence in China,US and Australia. Leveraging our scientific expertise and proprietary discovery platforms,Sinovent has developed a robust and balanced pipeline,which consists of five first-in-class or best-in-class clinical programs,and many more preclinical programs. The Company's diseases areas of focus include oncology,metabolic and infectious diseases. For more information,please visit its website atwww.sinovent.com.cn.

About SinoMab BioScience Limited

SinoMab BioScience Limited (stock code: 3681.HK) is dedicated to the research,manufacturing and commercialization of therapeutics for the treatment of immunological diseases. The Company's flagship product SM03 is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis and is currently in Phase III clinical trial for rheumatoid arthritis in China,which has been recognized as one of the significant special projects of Significant New Drugs Development of the Twelfth Five-Year Plan Period and the Thirteenth Five-Year Plan Period. In addition,the Company possesses other potential first-in-target and first-in-class drug candidates,some of which are already in clinical stage,with their indications covering rheumatoid arthritis,systemic lupus erythematosus,pemphigus vulgaris,non-Hodgkin's lymphoma,asthma,and other diseases with major unmet clinical needs.