The board of directors of Mabpharm Limited announced that the new drug application (NDA) of CMAB007 (omalizumab), a core product of the Company, was recently accepted by the National Medical Products Administration of the People's Republic of China ("NMPA") for the treatment of allergic asthma, which is the first domestic allergic asthma therapeutic antibody new drug in China with NDA submitted. CMAB007 (omalizumab) is the second drug to be submitted for marketing application by the Company. The company believe that, once approved by the NMPA for marketing, it will be the first mAb asthma therapy developed by a local Chinese company and launched in China, which is highly effective, safe and convenient, and will greatly enhance the well-being of more than 20 million patients suffering from allergic diseases in China. The Company focuses on the development of monoclonal antibodies and has an experienced research and development team with key members having more than 20 years of experience in antibody drug development. Mabpharm possesses multiple core technologies, a leading large-scale antibody preparation system in the PRC and an outstanding quality management system. The Company's product pipeline currently includes several monoclonal antibody drugs. In addition to CMAB007 (omalizumab) which has been submitted the NDA, CMAB008 (infliximab for injection) has been approved for marketing, CMAB807 (denosumab for treatment of osteoporosis and tumor bone metastasis) and CMAB009 (cetuximab for treatment of metastatic colorectal cancer) are in Phase III clinical trials, and CMAB819 (nivolumab for treatment of metastatic non-small cell lung cancer, hepatocellular carcinoma and head and neck squamous cell carcinomas) is in Phase I clinical trial. With high quality innovative drugs as the foundation, the Company will provide innovative antibody drugs to patients in the PRC by offering more economical and affordable drug supply solutions and fully participating in China's national healthcare system reform initiatives. The Company has also planned to cooperate with partners who have accumulated abundant overseas market resources over a long period of time to rapidly expand the overseas markets.