Ocumension Therapeutics (the ‘Company’, together with its subsidiaries, the ‘Group’) on a voluntary basis to keep the shareholders of the Company and potential investors informed of the latest business updates of the Group. The board (the ‘Board’) of directors of the Company announced that OT-101 (0.01% atropine sulfate eye drop), a self-developed new drug to treat the progression of myopia in children, was approved by the Medicines and Healthcare products Regulatory Agency (MHRA) of the United Kingdom to conduct a phase III randomized, double-masked, placebo-controlled, parallel-group, multi-center study on the safety and efficacy in treating the progression of myopia in pediatric subjects. The phase III clinical trial of OT-101 is the world's first multi-regional phase III clinical trial for low-concentration atropine and its analogs that includes Chinese population. In April 2021, the first patient enrollment for OT-101's phase III clinical trial in the United States was completed. In July 2021, OT-101 was also approved by the Center for Drug Evaluation (CDE) of the National Medical Products Administration of the People's Republic of China to conduct a phase III clinical trial. To date, no low-concentration atropine ophthalmic preparations has been commercialized in the global mainstream pharmaceutical market. OT-101 (atropine 0.01%) is a low-concentration (0.01%) atropine eye drop developed to retard, or slow down, the progression of myopia in children and adolescents, which is the only anticholinergic medication to date that has been demonstrated to be consistently effective and safe in controlling myopic progression. However, the instability of low-concentration atropine solutions has long been a technical barrier towards commercialization. In response to these obstacles, OT-101 uses an innovative closed-loop split device of exclusive design to improve the reliability, closure integrity and sterility conditions of the device, so that it can be as close as possible to the current medication environment for the preparations of low-concentration atropine for use in the hospital, thus solving the stability problem of low-concentration atropine solution in neutral environment. Also, the appropriate pH value improves the comfort of patients being treated and medication compliance. The Group believes that the technical breakthroughs in response to the stability issue of low-concentration (0.01%) atropine will be its core competitiveness.