HanAll Biopharma Assigns Su-jin Park as Co-CEO to Drive Next Phase of Growth

Su-jin Park joins HanAll Biopharma in a shared leadership role to strengthen pharmaceutical business in Korea,supporting growth in domestic drug sales

Sean Jeong,who has been serving as Co-CEO since March 2021,will continue to lead HanAll's R&D,including its subsidiary HanAll Pharmaceutical International in the U.S.

The new Co-CEO,Mr. Park is recognized as a leading figure with over 20 years of extensive experience in prescription drug marketing and sales

ROCKVILLE,Md.andSEOUL,South Korea,March 29,2023 -- HanAll Biopharma Co.,Ltd. (KRX: 009420. KS),a global biopharmaceutical company committed to discovering and developing innovative medicines for patients,announced Su-jin Park has been appointed as new Co-Chief Executive Officer. Sean Jeong,who has served as a Co-CEO of HanAll Biopharma since March 2021,will continue to lead HanAll's R&D vision and strategy alongside Mr. Park,who will focus on the business strategy and daily operations of HanAll's pharmaceutical business,which generated over 100 billion won in revenue in 2022. Both CEOs will collaborate in building the organization and business development to drive HanAll's next phase of growth in both domestic and global markets.

Mr. Park is an experienced executive with a proven track record of driving growth and delivering results in pharmaceutical sales and marketing for more than 20 years. Most recently he tenured as head of the prescription drug (ETC) marketing and sales division in Daewoong Pharmaceutical,where he provided strategic vision and oversight to drive sales for key products,bringing a record-high ETC sales in company's history in 2022 with a successful launching of Fexuclue,a medication for gastroesophageal reflux disease.

As a new Co-CEO,Mr. Park will bring his extensive experience and know-how to strengthen HanAll's domestic drug production and sales.

"I am thrilled to join a team of experts who are globally recognized for their innovation to advance the development and delivery of life-saving medicines. I will work to strengthen our sales strategy of existing pharmaceutical products while expanding our sales network to deliver new products to the patients in need of effective treatment," said Su-jin Park,Co-CEO of HanAll Biopharma.

About HanAll Biopharma

HanAll Biopharma (KRX: 009420.KS) is a global biopharmaceutical company founded in 1973,with the mission of making meaningful contributions to patients' lives by introducing innovative,impactful therapies to address severe unmet medical needs. HanAll has been operating a portfolio of pharmaceutical products in areas ranging from endocrine,circulatory,and urologic diseases for more than 49 years.

HanAll has expanded its focus to ophthalmology,immunology,oncology and neurology to discover and develop innovative medicines for patients with diseases for which there are no effective treatments. Its lead pipeline asset,HL161 (INN: batoclimab),an anti-FcRn antibody,is being developed in Phase 3 and Phase 2 trials across the world for the treatment of rare autoimmune disorders including myasthenia gravis,thyroid eye disease,warm autoimmune hymolytic anemia,neuromyelitis optica,and immune thrombocytopenia. Another main asset,HL036 (INN: tanfanercept),an anti-TNF alpha biologic,is being evaluated in Phase 3 clinical trials in the US and China for the treatment of dry eye disease. For further information connect with us on linkedIn or Instagram. For any media inquiries,please contact HanAll PR/IR (pr@hanall.com,ir@hanall.com).

Disclaimer statement

The contents of this announcement include statements that are,or may be deemed to be,"forward-looking statements." These forward-looking statements can be identified by the use of forward-looking terminology,including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will," or "should" and include statements HANALL (the company,we) makes concerning its 2023 business and financialoutlook and related plans; the therapeutic potential of its product candidates; the intended results of its strategy and the company,and its collaboration partners',advancement of,and anticipated clinical development,data readouts and regulatory milestones and plans,including the timing of planned clinical trials and expected data readouts; the design of future clinical trials and the timing and outcome of regulatory filings and regulatory approvals. By their nature,forward-looking statements involve risks and uncertainties,and readers are cautioned that any such forward-looking statements are not guarantees of future performance. The company's actual results may differ materially from those predicted by the forward-looking statements as a result of various important factors our expectations regarding its the inherent uncertainties associated with competitive developments,preclinical and clinical trial and product development activities and regulatory approval requirements; our reliance on collaborations with third parties; estimating the commercial potential of our product candidates; our ability to obtain and maintain protection of intellectual property for its technologies and drugs; our limited operating history; and our ability to obtain additional funding for operations and to complete the development and commercialization of its product candidates. A further list and description of these risks,uncertainties and other risks can be found in Korea Stock Exchange (KRX) filings and reports,including in our most recent annual report as well as subsequent filings and reports filed by the company with the KRX. Given these uncertainties,the reader is advised not to place any undue reliance on such forward-looking statements. These forward-looking statements speak only as of the date of publication of this document. We undertake no obligation to publicly update or revise the information in this press release,including any forward-looking statements,except as may be required by Korean law and regulations.