The board of directors of Shanghai Junshi Biosciences Co., Ltd. hereby announced that on 10 January 2024, the Company received a letter from Coherus notifying the Company of its intention to terminate the cooperation between the Company and Coherus with respect to the recombinant humanized monoclonal antibody against TIGIT (the Termination). The Termination shall become effective six months after the receipt of the Notification Letter by the Company. Once the Termination becomes effective, the license rights of Coherus in respect of JS006 will be terminated and the Company will regain all global rights to develop, manufacture and commercialize JS006.

The Termination will not affect the exercise payment of USD 35 million that the Company had previously received from Coherus and the research and development expenses that Coherus had borne. Pursuant to the terms of the License and Commercialization Agreement, the aforesaid amount will not be refunded or reimbursed. The terms relating to toripalimab and other aspects as set out in the License and Commercialization Agreement will not be affected and will remain effective and active.

In addition, the Termination will not have a material adverse effect on the financial position and operating conditions of the Company. Coherus has agreed to continue to support the patients in the Phase I clinical trials of JS006 as a monotherapy or in combination with toripalimab for the treatment of patients with advanced tumors (NCT05061628, NCT05757492), and arrange for gradual transition of the research work on JS006 with the Company.