This announcement is made by the board of directors (the 'Board') of Lee's Pharmaceutical Holdings Limited (the 'Company', together with its subsidiaries as the 'Group') on a voluntary basis.

The Board of the Company is pleased to announce that, Samir C. Patel, MD ('Dr. Patel'), has been appointed as the Chief Strategy Officer ('CSO') of the Company's indirect non-wholly owned subsidiary, China Ophthalmology Focus Limited ('COPFL') with effect from 9 April 2020.

Prior to his appointment in this newly created position, Dr. Patel has extensive experience with a number of start-up and well-established pharmaceutical companies. He was the CoFounder, President and Chief Executive Officer of Ophthotech Corporation, leading its growth from a startup to a publicly traded company specialising in the development of novel therapeutics to treat ocular diseases. Prior to Ophthotech, Dr. Patel was the Co-Founder and Chief Medical Officer of Eyetech Pharmaceuticals, Inc., which developed the first approved anti-VEGF agent for wet age-related macular degeneration ('wAMD'). Dr. Patel has sourced, in-licensed, and led the diligence which has resulted in the development of multiple new molecular entities from a preclinical compound to several multicenter global Phase III clinical trials. Under his leadership, Eyetech Pharmaceuticals has completed financings totaling over US$230 million from private funds.

Dr. Patel maintains a close network of ophthalmic related relationships with major drug development stakeholders including most of the global retinal key opinion leaders, regulatory authority, healthcare investment bankers and analysts from leading firms and top tier health care venture capitalists. As CSO of COPFL, Dr. Patel will bring both breadth and depth to COPFL's understanding of the ophthalmology market. His insight will be instrumental in formulating and implementing COPFL's business strategies, streamlining the execution of internal projects and evaluating potential in-licensing opportunities. In this critical juncture of COPFL, Dr. Patel, with his stellar management experience, strong technical expertise and excellent track record in rapidly and profitably leading companies through substantial growth, is expected to integrate his resources to contribute and help the advancement of COPFL to a new level. The Board would like to take this opportunity to express its warmest welcome to Dr. Patel on his new appointment with COPFL.

ABOUT CHINA OPHTHALMOLOGY FOCUS LIMITED

COPFL is an indirect non-wholly owned subsidiary of the Company. Its Series A fund raising of US$50 million in June 2019 was contributed by reputable investors including Coyote Investment Pte. Ltd., Panacea Venture Healthcare Fund I, L.P., Smart Rocket Ltd., and Vertex Profit International Ltd. COPFL specialises in the development, manufacturing and marketing of ophthalmic drugs. It has built up a state-of-the-art development and production facility in Nansha, Guangzhou through its 100% subsidiary Zhaoke (Guangzhou) Ophthalmology Pharmaceutical Limited. The facility supports the in-house development and future commercialisation of over 21 proprietary products and difficult to manufacture generics (ranged from pre-clinical to registration stage) for the Chinese and ASEAN markets. Its portfolio is diversified in having both small molecules and biologics, and having both novel and generic medicines, covering different ophthalmic indications from dry eye syndrome, glaucoma to wAMD, diabetic retinopathy to corneal and inflammatory diseases. It is currently the only modern facility in China that is recognised as being designed and built for ophthalmic drugs according to all applicable standards, namely China National Medical Products Administration, Pharmaceutical Inspection Co-operation Scheme (PIC/S), European Medicines Evaluation Agency, Japan Pharmaceutical and Food Safety Bureau and U.S. Food and Drug Administration (FDA).

Contact:

Tel: (+852) 2314-1708

Email: info@leespharm.com

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