PharmAbcine Announces Patent Grant in Australia for Its Anti-VISTA Antibody

DAEJEON,South Korea,Oct.19,2021 -- PharmAbcine Inc. (KOSDAQ: 208340ks),a clinical-stage biotech company focusing on the development of next-generation antibody therapeutics,announced today that the patent for PMC-309,one of the Company's first immuno-oncology assets,has been granted by IP Australia,the Australian government agency that administers intellectual property rights.

The Australian grant represents PMC-309's third global patent approval since it received grants from Russia in June 2021 and South Korea in July 2021. The Company also plans to get more patents approved in other countries,including the U.S,Canada,China,Japan,European nations,and etc.

PMC-309 is a first-in-class antibody that antagonizes VISTA (V-domain Ig Suppressor of T cell Activation) and is in development to treat various tumor types. VISTA plays a pivotal role in maintaining the immunosuppressive environment around the tumor cells and is expressed primarily on immunosuppressive cells,such as MDSC (Myeloid-Derived Suppressor Cells) and Tregs (regulatory T cells). Blocking VISTA pathways on immunosuppressive cells promotes T cells' immune responses and leads to better anti-tumor effects.

According to the nonclinical data of PMC-309 presented at AACR (American Association for Cancer Research) 2021,PMC-309 showed promising anti-tumor effects comparable to an existing anti-PD-1 drug. However,when used in combo with an anti-PD-1 drug,PMC-309 demonstrated significantly improved tumor growth inhibitions than either mono therapies.

In April 2021,PharmAbcine initiated IND-enabling studies of PMC-309. The studies are required to establish the safety profile in animals before entering the human trial. The Company expects to enter a Phase I global trial in 2022.

"This patent grant is one of the key milestones that underlines our approach to help patients with unmet medical needs with a novel first-in-class antibody candidate and builds stronger intellectual property position in the immuno-oncology field," said Dr.Jin-San Yoo,CEO of PharmAbcine. "Our team believes that PMC-309,with its unique mode of action that does not overlap with the existing drugs,will be a new treatment option in both mono and combo therapies for patients who do not respond well to the current immunotherapies."

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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