SK Biopharmaceuticals' Proteovant Therapeutics Presents Preclinical Data on IKZF2 Protein Degrader Program and MOPED™ Molecular Glue Screening Platform at the 20th Annual Discovery on Target Conference

These are the first in a series of presentations scheduled through the end of the year sharing advances to SK Biopharmaceutical's targeted protein degradation (TPD) pipeline

SEOUL,South Korea and KING OF PRUSSIA,Pa.,Sept. 27,2023 --SK Biopharmaceuticals,a global biotech focused on the research,development and commercialization of treatments for disorders of the central nervous system (CNS) and oncology,and its U.S. R&D subsidiary,Proteovant Therapeutics,today announced they will present data on the discovery and characterization of a selective IKZF2 molecular glue degrader with best-in-class potential,and on MOPED™,a novel platform for the discovery of molecular glues,at the 20th Annual Discovery on Target Conference being held in Boston,September 25-28,2023.

These presentations are the first in a series in which the companies will unveil exciting results from its targeted protein degradation (TPD) studies and MOPEDTM Molecular Glue Screening Platform. TPD harnesses the body's natural protein disposal system and offers the potential to develop new medicines targeting historically difficult-to-drug proteins that play an important role in causing serious diseases. SK Biopharmaceuticals and Proteovant Therapeutics are discovering and developing potential best-in-class and first-in-class degraders to engage previously undruggable targets.

"We are excited to share new data on our IKZF2 molecular glue degrader that demonstrates the potential to combine with immune checkpoint therapies for the treatment of cancer," said Donghoon Lee,President and CEO of SK Biopharmaceuticals and SK Life Science. "We are also pleased to present data showing how our MOPED™ platform can help find molecular glues with the potential to destroy malfunctioning proteins and kill cancer cells or inhibit their growth."

Discovery on Target Meeting Presentations:

Title: MOPED™: A Novel Platform for the Discovery of Molecular Glues

Presenter:Corey Strickland,Ph.D.

Date/Time: Wednesday,September 27; 9:30 - 10:00 AM

Title: Discovery and Characterization of an IKZF2 Selective Molecular Glue Degrader with Best-in-Class Potential

Presenter:Courtney G. Havens,Ph.D.

Date/Time: Thursday,September 28; 2:50 - 3:20 PM

About Proteovant Therapeutics

Proteovant Therapeutics exploits the ubiquitin-protease system (UPS) to discover and develop transformative medicines for the treatment of patients with life-altering diseases. Protein degradation harnesses the human body's innate cellular machinery by way of the UPS to identify and mark disease causing proteins for destruction. This promising approach provides the opportunity to target proteins of interest,many of which were previously considered undruggable. Proteovant integrates its AI enabled target ID platform,degrader drug hunting expertise,and MOPED™ molecular glue screening platform to advance novel protein degraders. As of August 11,2023,Proteovant Therapeutics is part of SK Biopharmaceuticals.

About SK Biopharmaceuticals Co.,Ltd.

SK Biopharmaceuticals is a global biotech company focused on the research,development,and commercialization of treatments to help people living with central nervous system (CNS) disorders and change the future of cancer care. Together with its U.S. subsidiary,SK Life Science,Inc.,SK Biopharmaceuticals has a pipeline of eight compounds in development. Both companies are part of SK Group,one of the largest conglomerates in Korea and one of TIME's 100 Most Influential Companies of 2023. For more information,please visit www.skbp.com/eng.

SK Biopharmaceuticals' parent company SK Inc. continues to enhance its portfolio value by executing long-term investments with a number of competitive subsidiaries in various business areas,including pharmaceuticals and life science,energy and chemicals,information and telecommunication,and semiconductors. In addition,SK Inc. is focused on reinforcing its growth foundations through profitable and practical management based on financial stability,while raising its enterprise value by investing in new future growth businesses. For more information,please visit www.sk-inc.om/en.

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