The board of directors of Cutia Therapeutics announced that the Phase II clinical trial of CU-20401 (recombinant mutant collagenase), a potential Class I new drug of the Group, for submental adipose accumulation, has completed first patient enrollment. CU-20401 is a recombinant mutant collagenase that targets obesity, overweight, or other localized adipose accumulation associated metabolic diseases. CU-20401 adopts an alternative mechanism of action where it acts as a collagenase to selectively act on the extracellular matrix attached to adipose tissue.

After localized injection, CU-20401 degrades extracellular matrix collagen in the subcutaneous fat layer which leads to apoptosis of adipocytes, and is expected to effectively reduce localized adipose accumulation. CU-20401 is technologically modified with reduced rate to catalyze the collagen degradation with mild catalytic activity, thus reducing the adverse effects of wild-type collagenase, such as bruising and pain. The Phase II clinical trial of CU-20401 for submental adipose accumulation conducted in China is a multi-center, randomized, double-blind and placebo-controlled trial to evaluate the efficacy and safety of CU-20401.

There is no assurance that CU-20401 will ultimately be successfully developed and marketed by the Company. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.