Innovent Biologics : VOLUNTARY ANNOUNCEMENT - FIRST PATIENT DOSED IN A PHASE I CLINICAL TRIAL OF ANTI-LAG-3 MONOCLONAL ANTIBODY IN CHINA

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信達生物製藥

INNOVENT BIOLOGICS, INC.

(Incorporated in the Cayman Islands with Limited Liability)

(Stock Code: 1801)

VOLUNTARY ANNOUNCEMENT

FIRST PATIENT DOSED IN A PHASE I CLINICAL TRIAL OF

ANTI-LAG-3 MONOCLONAL ANTIBODY IN CHINA

This announcement is made by Innovent Biologics, Inc. (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to inform the shareholders and potential investors of the Company about the latest business updates of the Group.

The board of directors of the Company (the "Board") is pleased to announce that the first patient has been successfully dosed in a Phase I clinical trial of anti-lymphocyte activation gene 3 (LAG-3) recombinant fully human monoclonal antibody drug candidate (IBI-110), developed by the Company, in China.

This Phase I clinical trial of IBI-110 conducted in China is to evaluate the safety, tolerability, and initial anti-tumor efficacy of IBI-110 in the treatment of patients with advanced malignancies, either as monotherapy or in combination with Tyvyt® (sintilimab injection), a recombinant fully human anti-PD-1 monoclonal antibody drug.

LAG-3 is one of the most promising and prospective targets in tumor immunotherapy. Currently, a series of relevant clinical trials is ongoing abroad, and the preliminary results have shown certain safety and anti-tumor effectiveness of anti-LAG-3 antibody either as monotherapy or in combination with anti-PD-1/PD-L1 antibody, and shown in particular the possible synergistic enhancement effect of combination therapies. Therefore, developing drugs targeting LAG-3 may provide more novel, comprehensive and effective treatments for patients.

ABOUT IBI-110

1. 1. recombinant fully human anti-lymphocyte activation gene 3 (LAG-
2. monoclonal antibody developed by the Company. As a class 1 innovative drug, IBI-110 can directly bind to LAG-3 and block its interaction with MHCII, and thus activate and enhance the anti-tumor immune response of T cells. Furthermore, IBI-110 may synergize with anti-PD-1/PD-L1 antibody to improve the anti-tumor efficacy. IBI-110 may hopefully exert antitumor activity
   and delay the drug resistance in the form of monotherapy or combination with Tyvyt® (sintilimab injection), which will provide more effective treatments for cancer patients.IBI-110is an innovative IgG4

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Cautionary Statement required by Rule 18A.05 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited: The Company cannot guarantee that it will be able to develop, or ultimately market, IBI-110successfully. Shareholders and potential investors of the Company are advised to exercise due care when dealing in the shares of the Company.

By Order of the Board

Innovent Biologics, Inc.

Dr. De-Chao Michael Yu

Chairman and Executive Director

Hong Kong, China, December 6, 2019

As at the date of this announcement, the Board comprises Dr. De-Chao Michael Yu as Chairman and Executive Director and Mr. Ronald Hao Xi Ede as Executive Director, Mr. Shuyun Chen as Non-executive Director, and Dr. Charles Leland Cooney, Ms. Joyce I-Yin Hsu and Dr. Kaixian Chen as Independent Non-executive Directors.

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