UPDATED -- JHL Biotech Announces China Approves Phase I and Phase III Clinical Trial Application for Bevacizumab Biosimilar to Treat Cancer

HSINCHU and WUHAN,Oct. 17,2018 --JHL Biotech announced that the National Medical Products Administration of the PRC (NMPA) has approved JHL's Phase I and Phase III Clinical Trial Application for a proposed bevacizumab biosimilar,JHL1149,to treat several forms of cancer,including advanced non-squamous non-small-cell lung cancer (NSCLC),metastatic colorectal cancer,metastatic kidney cancer,advanced cervical cancer and recurrent ovarian cancer.

Racho Jordanov,JHL Biotech,Co-Chairman and CEO stated,"We are very excited for our second biosimilar to be approved for clinical trials by the NMPA. This marks the second NMPA approval we have received in just four months and puts us another step closer to our vision of manufacturing biologics of the highest quality from China for the world."

About JHL Biotech

JHL Biotech,Inc. is a biopharmaceutical company founded by a group of industry veterans with deep experience in biologics development and operations. With a mission to provide the world with affordable medicines of exceptional quality,the company is focused on research and development of new protein-based therapies and biosimilars and providing contract development and manufacturing organization (CDMO) services to global pharmaceutical clients. JHL Biotech is uniquely positioned to be a leading global supplier of high quality biologics because of its experienced leadership team,ongoing global clinical trials for its pipeline of biosimilar candidates,and two Asia-based world-class biologics manufacturing facilities built in accordance with United States,European Union,and ICH cGMP regulations and standards. JHL Biotech is backed by premier financial firms,including Kleiner Perkins Caufield & Byers,Sequoia Capital,Biomark Capital,Milestone Capital,Fidelity and the China Development Industrial Bank. For more information,please visit www.jhlbiotech.com.

Media Contact:

Amber Chen | Email: achen@jhlbiotech.com | Phone: +886 3-658-3899

Lee Henely | Email: lhenely@jhlbiotech.com | Phone: +886 3-658-3899

Forward-Looking Statement

This press release contains forward-looking statements,which are generally statements that are not historical facts. Forward-looking statements can be identified by the words "expects," "anticipates," "believes," "intends," "estimates," "plans," "will," "outlook" and similar expressions. Forward-looking statements are based on management's current plans,estimates,assumptions and projections,and speak only as of the date they are made. JHL undertakes no obligation to update any forward-looking statement in light of new information or future events,except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties,most of which are difficult to predict and are generally beyond the control of either company. Actual results or outcomes may differ materially from those implied by the forward-looking statements.

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