Ocumension Therapeutics : VOLUNTARY ANNOUNCEMENT FIRST PATIENT ENROLLED IN THE PHASE III CLINICAL TRIAL OF OT-101 IN THE UNITED STATES AND THE PLANNED REAL WORLD STUDY FOR OT-101 IN CHINA

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Ocumension Therapeutics

歐康維視生物

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1477)

VOLUNTARY ANNOUNCEMENT

FIRST PATIENT ENROLLED

IN THE PHASE III CLINICAL TRIAL OF OT-101

IN THE UNITED STATES AND THE PLANNED

REAL WORLD STUDY FOR OT-101 IN CHINA

This announcement is made by 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 is pleased to announce that one of the Group's in-house developed key drug candidates, OT-101 (atropine 0.01%), has completed the first patient enrollment for its phase III randomized, double-blind,placebo-controlled, parallel group, multi-center clinical trial on the safety and effectiveness of the treatment of pediatric myopia progression in the United States on April 7, 2021.

The Company also plans to carry out the real world study for OT-101 in Boao Lecheng International Medical Tourism Pilot Zone (博鰲樂城醫療旅遊先行區) in Hainan Province, China,

with a view to accelerating the commercialization of OT-101.

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, the Group developed the storage and delivery system and conducted several rounds of tests on the system's reliability, closure integrity and sterility conditions. The Group believes, the technical breakthroughs in response to the stability issue of low-concentration (0.01%) atropine will be its core competitiveness.

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Cautionary Statement required by Rule 18A.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited: The Company cannot guarantee that it will ultimately commercialize OT-101(atropine 0.01%) successfully. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Ocumension Therapeutics

Dr. Lian Yong CHEN

Chairman and Executive Director

Hong Kong, April 7, 2021

As of the date of this announcement, the Board comprises Dr. Lian Yong CHEN, Mr. Ye LIU, Dr. Zhaopeng HU and Dr. Wei LI as executive directors, Mr. Yanling CAO and Ms. Yumeng WANG as non-executive directors, and Mr. Ting Yuk Anthony WU, Mr. Lianming HE, and Mr. Yiran HUANG as independent non-executive directors.

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