ProfoundBio Highlights Broad Antitumor Activity in Preclinical Models and Trial-in-Progress for PRO1184 at AACR 2023 Annual Meeting

WOODINVILLE,Wash. and SUZHOU,China,March 24,2023 -- ProfoundBio,a clinical stage biotechnology company focused on the development of novel antibody-based therapeutics with curative potential,will present two posters from its lead program,PRO1184,a folate receptor alpha (FRα)-directed exatecan-based antibody-drug conjugate (ADC) with a novel hydrophilic linker,at the American Association for Cancer Research (AACR) Annual Meeting being held April 14 – 19,2023. The presentations will highlight PRO1184 preclinical data demonstrating the potential of ProfoundBio's novel,proprietary technology platform to improve the activity and safety of ADCs,and the study design of the first-in-human clinical trial (NCT05579366).

"PRO1184 demonstrates strong efficacy across diverse tumor types,histologies and target expression levels with a well-tolerated profile in preclinical models. PRO1184 is a promising development candidate for the treatment of FRα-expressing solid tumors." Said Zhu Chen,PhD,Chief Scientific Officer.

"The first clinical trial for PRO1184 is activelyenrolling at sites in the US and soon in China. We are gratified by the interest we have received in this clinical trial from experienced investigators. We believe it is a potential best-in-class ADC candidate that could benefit patients with not only high but also low FRa expressing cancer." said Baiteng Zhao,Chief Executive Officer. "Our presentations further demonstrate the potential of our proprietary ADC technology and provide more confidence to expect positive clinical results from PRO1184 and our other programs. I look forward to bringing better therapeutic solutions forward to help patients with cancer."

Details of ProfoundBio presentations at the AACR annual meeting:

A poster entitled "Novel folate receptor alpha-directed antibody-drug conjugate PRO1184 demonstrates broad antitumor activity with a promising safety profile in preclinical models" will be presented on April 17,2023 1:30 – 5:00 pm.

A poster entitled "Phase 1/2 study of PRO1184,a novel folate receptor alpha-directed antibody-drug conjugate,in patients with locally advanced and/or metastatic solid tumors" will be presented on April 18,2023 1:30 – 5:00 pm.

About PRO1184

PRO1184 is a folate receptor alpha (FRα)-directed ADC with a novel proprietary hydrophilic linker and the exatecan payload. PRO1184 is currently being evaluated in a Phase 1 clinical trial for patients with advanced solid tumors (NCT05579366).

About ProfoundBio

ProfoundBio is a clinical-stage biotechnology company focused on the development of novel antibody-based therapeutics with curative potential for patients with cancer. Built on internally developed,innovative,and proprietary technology platforms,ProfoundBio has developed a pipeline consisting of multiple drug candidates targeting solid tumors and hematological malignancies that are in discovery,preclinical,and clinical development stages. ProfoundBio has operations in both the greater Seattle area,WA,USA and Suzhou,China.

For more information,please visit www.profoundbio.com.

Media/Investor Contact:

Tae Han

Email:pr@profoundbio.com