Ascletis Appoints Former MSD Global Vice President Dr. Zhengqing Li as Chief Medical Officer and President of R&D Greater China

HANGZHOU,China andSHAOXING,China,March 1,2019 --Ascletis Pharma Inc. (1672.HK),an innovative R&D driven,commercial-stage biotechnology company addressing unmet medical needs in therapeutic areas including anti-viral,cancer and fatty liver diseases,announces today that Dr.Zhengqing Li joins Ascletis as Chief Medical Officer and President of R&D Greater China,reporting to Jinzi J. Wu,PhD.,Founder,Chairman and CEO ofAscletis.

Dr. Li joins Ascletis from MSD China,where he served as Global Vice President and General Manager of R&D Center China since 2011.He spent the early part of his tenure building MSD China into a fully integrated development organization with more than 600 employees. Under Dr. Li's leadership,MSD China has been responsible for the successful approvals of more than 20 product filings.Led by Dr. Li,between 2017 and 2018,more than ten products were approved in China including Keytruda,Zepatier,Isentress,HPV vaccines (Gardasil and Gardasil 9),Rotateq,Bridion,Nuvaring,and an additional Noxafil indication.

"I am excited that Dr.Li joins Ascletis at this crucial time," saidDr. Wu. "As Ascletis R&D is moving from First-in-China to Global First-in-Class drugs,Dr. Li's experience and track record will bring significant impact and huge value to our R&D,especially his success in antivirals (Zepatier and Isentress) and oncology (Keytruda)."

"I am impressed by Ascletis' R&D strategy and accomplishments in the last few years," said Dr. Zhengqing Li. "I share Ascletis' vision to be one of the best R&D driven biotechs on a global scale. I look forward to working with Dr. Wu and the team to develop Global First-in-Class medicines for unmet medical needs in China and the rest of the world."

Dr. Li has more than 20 years experience in drug research and development including 15 years in the United States and 8 years in China. Prior to MSD,Dr. Li was Vice President and Head of Clinical Research at BMS China from 2010 to 2011. Dr. Li served as Executive Director of Global Biometric Science at BMS USA from 2006 to 2010. He contributed to clinical development and regulatory success of multiple products in the United States during his tenure with Pfizer and Procter & Gamble pharmaceuticals.

About Ascletis

Ascletis is an innovative R&D driven biotech with two commercial products and listed on Hong Kong Stock Exchange (Ascletis,1672.HK). Ascletis' mission is to address unmet medical needs in three therapeutic areas: viral,cancer and fatty liver diseases. Led by a management team with deep expertise and a proven track record,Ascletis has developed a fully integrated platform covering the entire value chain from discovery and development to manufacturing and commercialization. Ascletis is now commercializing two drugs,Ganovo® (Danoprevir),the first direct-acting anti-viral agent for hepatitis C developed domestically for China,and Pegasys® (Peginterferon alfa-2a),a well-established pegylated interferon for hepatitis B&C partnered with Roche. Ascletis' R&D pipeline consists of antibody-based immunotherapy,first/best-in-class small molecules and siRNA at various clinical development stages. For more information,please visit www.ascletis.com.