Shanghai Fudan Zhangjiang Bio Pharmaceutical : INDICATIVE ANNOUNCEMENT-FDA018 ANTIBODY DRUG CONJUGATE FOR INJECTION RECEIVED THE ACCEPTANCE NOTICE FOR THE INVESTIGATIONAL NEW DRUG APPLICATION

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INDICATIVE ANNOUNCEMENT

FDA018 ANTIBODY DRUG CONJUGATE FOR INJECTION

RECEIVED THE ACCEPTANCE NOTICE FOR THE INVESTIGATIONAL NEW DRUG APPLICATION

This announcement is made by Shanghai Fudan-ZhangjiangBio-Pharmaceutical Co., Ltd.* (the "Company") on a voluntary basis.

The board of directors (the "Board") of the Company is pleased to announce that, the Company has received the Acceptance Notice ( 《 受 理 通 知 書 》 ) issued by the National Medical Products

Administration of the PRC (the "NMPA"). The investigational new drug application for the FDA018

antibody drug conjugate for injection (the "Drug") has been accepted. Relevant information is as follows:

ABOUT FDA018-ADC

Drug name:	FDA018 antibody drug conjugate for injection
Application matter:	Registration of Clinical Trial of Domestic Production of Pharmaceutical Product
Acceptance No.	CXSL2101031GUO
Applicant:	Shanghai Fudan-ZhangjiangBio-Pharmaceutical Co., Ltd.*
	(上海復旦張江生物醫藥股份有限公司)
Review conclusion:	Accepted upon review according to the requirements of Article 32 of the
	Administrative License Law of the People's Republic of China.

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The drug is a type of antitumor ADC drug (antibody-drug conjugate, ADC) for Trop-2 target, which is intended to be developed for treatment of solid tumors. In normal tissues of the human body, Trop-2 (human trophoblast cell surface glycoprotein antigen) is expressed at different levels, but its expression level is significantly increased in various carcinomas, such as breast cancer, lung cancer, and stomach cancer. High Trop-2 expression plays an important role in promoting tumor development. The Drug combines with Trop-2 to deliver anti-cancer drug molecules to kill cancer cells. The research goal is to explore suitable indications and corresponding therapeutic windows.

Due to the high-tech,high-risk and high-value-added characteristics of pharmaceutical products, and the long cycle and numerous stages in the process, there are uncertainties in drug research, development and commercialization. These many stages make it susceptible to uncertainties and therefore, investors are advised to make cautious decisions and pay careful attention to investment risks. The Company will actively facilitate the above research and development project and fulfill its information disclosure obligations in a timely manner for subsequent progress in strict accordance with relevant regulations.

By order of the Board

Wang Hai Bo

Chairman

As at the date on the publication of this announcement, the Board comprises:

Mr. Wang Hai Bo (Executive Director)

Mr. Su Yong (Executive Director)

Mr. Zhao Da Jun (Executive Director)

Mr. Shen Bo (Non-executive Director)

Ms. Yu Xiao Yang (Non-executive Director)

Mr. Zhou Zhong Hui (Independent Non-executive Director)

Mr. Lam Yiu Kin (Independent Non-executive Director)

Mr. Xu Qing (Independent Non-executive Director)

Mr. Yang Chun Bao (Independent Non-executive Director)

Shanghai, the PRC

21 April 2021

* For identification purpose only

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