Kangpu Announces First Patient Dosed in the US Phase IIa Clinical Trial of NeoMIDES™ Molecular Glue KPG-818 in Systemic Lupus Erythematosus

SHANGHAI,June 13,2022 --Kangpu Biopharmaceuticals,a clinical-stage company based in Shanghai,China,announced today that the first patient has been dosed in the Company's US Phase IIa clinical trial of KPG-818,an orally bioavailable NeoMIDESTM molecular glue,for the treatment of systemic lupus erythematosus (SLE).

The Phase IIa trial is a multicenter,randomized,double-blind,placebo-controlled clinical study to evaluate the safety and tolerability,pharmacokinetics,and preliminary efficacy of KPG-818 in patients with SLE.

KPG-818 is a novel cereblon E3 ubiquitin ligase complex (CRL4-CRBN) modulatordeveloped by Kangpu Pharmaceuticals for the treatment of autoimmune diseases and hematologic malignancies. In a Phase Ib clinical study in SLE recently finished in the US,KPG-818 demonstrated good tolerability,a favorable pharmacokinetic profile,and substantial potency for the degradation of Ikaros and Aiolos (IKZF1 and IKZF3).

About Kangpu Biopharmaceuticals

KangpuBiopharmaceuticals,Ltd. isaclinical-stagecompanyfocusedonthediscoveryanddevelopmentofinnovativesmallmolecules forthetreatmentof solid tumors,hematologicmalignancies,autoimmunediseases,and inflammatorydisorders through novel solutions including targeted protein ubiquitination and degradation.Kangpu has built a rich and solid pipeline of potential first-in-class and best-in-class drug candidates based on proprietary technology platforms,including NeoMIDESTM,SelPDEiS®,and X-SYNERGY®,developed and patented worldwide by the Company. For more information,please visit www.KangpuGroup.com.

Forward Looking Statements

The statement(s) made in this press release describing Kangpu's predictions,expectations and objectives may be forward looking statements within the meaning of applicable laws and regulations. These statements and expectations envisaged by the management are only estimates and actual results may differ materially from such expectations due to risks,uncertainties and other factors including,but not limited to,changes in regulatory and/or economic conditions,uncertain outcomes in these clinical studies,exposure to market risks,and other external and internal factors,which are beyond the control of Kangpu.

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