Everest Medicines Submits New Drug Application in Hong Kong for Sacituzumab Govitecan in Second-Line Metastatic Triple-Negative Breast Cancer

SHANGHAI,March 31,2022 --Everest Medicines (HKEX 1952.HK),a biopharmaceutical company focused on developing and commercializing transformative pharmaceutical products to address critical unmet needs in Asia Pacific markets,announced today that it has submitted a New Drug Application (NDA) to the Department of Health,the Hong Kong Special Administrative Region,China for sacituzumab govitecan (SG) for the treatment of unresectable locally advanced or metastatic triple-negative breast cancer (mTNBC) in adult patients who have received two or more prior systemic therapies,at least one of them for metastatic disease.

"This submission reinforces the ongoing momentum in the development of SG throughout Asia,bringing this medicine one step closer to patients in yet another important region in Asia,and adding to the growing number of regulatory applications under active review," said Yang Shi,Chief Medical Officer for Oncology at Everest Medicines. "As women diagnosed with mTNBC have historically had minimal treatment options available to them and breast cancer has become the most common cause of death in women in Hong Kong over the past few decades,this application is especially timely. We look forward to moving closer to our goal of making SG an accessible treatment option for women throughout Greater China."

Everest is also closely coordinating with regulatory bodies in mainland China,South Korea and Taiwan to review its applications for SG for adult patients with unresectable locally advanced or mTNBC who have received two or more prior systemic therapies,at least one of them for metastatic disease. In February 2022,Everest announced the approval of Trodelvy® (trade name for SG) in Singapore for second-line mTNBC.

In November 2021,Everest announced topline results for its Phase 2b EVER-132-001 study of SG,which met its primary endpoint with a 38.8% overall response rate (ORR). This study evaluated 80 people in China,and the results were consistent with those from the global Phase 3 ASCENT study,thus showing similar efficacy in the Chinese population.

About Triple-Negative Breast Cancer (TNBC)

TNBC is the most aggressive type of breast cancer and accounts for approximately 15% of all breast cancers. The median age of breast cancer diagnoses tends to be younger in Asian than western countries,and the percentage of the TNBC molecular subtype has been increasing in the past 10 years. TNBC cells do not have estrogen and progesterone receptors and have limited human epidermal growth factor receptor 2 (HER2). Due to the nature of TNBC,effective treatment options are extremely limited compared with other breast cancer types. TNBC has a higher chance of recurrence and metastases than other breast cancer types. The average time to metastatic recurrence for TNBC is approximately 2.6 years compared with 5 years for other breast cancers,and the relative five-year survival rate is much lower. Among women with metastatic TNBC,the five-year survival rate is 12%,compared with 28% for those with other types of metastatic breast cancer.

About Sacituzumab Govitecan (SG)

Sacituzumab govitecan (SG) is a first-in-class Trop-2 directed antibody-drug conjugate. Trop-2 is a cell surface antigen highly expressed in multiple tumor types,including in more than 90% of breast and bladder cancers. SG is intentionally designed with a proprietary hydrolyzable linker attached to SN-38,a topoisomerase I inhibitor payload. This unique combination delivers potent activity to both Trop-2 expressing cells and the microenvironment.

SG is approved in more than 35 countries,with additional regulatory reviews underway worldwide,for the treatment of adult patients with unresectable locally advanced or metastatic TNBC,under the trade name Trodelvy®. SG is also approved in the U.S. under the accelerated approval pathway for the treatment of adult patients with locally advanced or metastatic urothelial cancer (UC) who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor.

SGis also being developed for potential investigational use in other TNBC and metastatic UC populations,as well as a range of tumor types where Trop-2 is highly expressed,including hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) metastatic breast cancer,metastatic non-small cell lung cancer (NSCLC),metastatic small cell lung cancer (SCLC),head and neck cancer,and endometrial cancer.

Under a licensing agreement with Gilead Sciences,Inc.,Everest Medicines has exclusive rights to develop,register,and commercialize SGfor all cancer indications in Greater China,South Korea,and certain Southeast Asian countries. In October 2020,SG was included in the updated 2020 China Guidelines for the Standardized Diagnosis and Treatment of Advanced Breast Cancer,compiled by the Breast Cancer Expert Committee of the National Cancer Control Center,the Breast Cancer Professional Committee of the Chinese Anti-Cancer Association,and the Cancer Drug Clinical Research Professional Committee of the Chinese Anti-Cancer Association.

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 Asian 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 operations both in China and with leading global pharmaceutical companies. Everest Medicines has built a portfolio of eleven potentially global first-in-class or best-in-class molecules,many of which are in late-stage clinical development. The Company's therapeutic areas of interest include oncology,autoimmune disorders,cardio-renal diseases and infectious diseases. For more information,please visit its website at www.everestmedicines.com.

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