CSPC Pharmaceutical : VOLUNTARY ANNOUNCEMENT - SUBMISSION OF CLINICAL TRIAL APPLICATION FOR INVESTIGATIONAL FIRST-IN-CLASS NEW DRUG ALMB-0168 IN AUSTRALIA

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CSPC Pharmaceutical Group Limited

石 藥 集 團 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 1093)

VOLUNTARY ANNOUNCEMENT

SUBMISSION OF CLINICAL TRIAL APPLICATION

FOR INVESTIGATIONAL FIRST-IN-CLASS NEW DRUG

ALMB-0168 IN AUSTRALIA

The Board of Directors (the "Board") of CSPC Pharmaceutical Group Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that AlaMab Therapeutics Inc. ("AlaMab"), a subsidiary of the Company, has submitted a clinical trial application to the relevant Ethics Committee in Australia for the first-in-human study for its investigational new drug, humanized monoclonal antibody agonist for hemichannel connexin 43 (Cx43) (ALMB-0168).

ALMB-0168 is a first-in-class humanized monoclonal antibody agonist for a novel target hemichannel Cx43 membrane protein, which is independently developed by AlaMab for the treatment of serious diseases with unmet medical needs, including bone cancer, bone metastases and osteoporosis. ALMB-0168 has been granted orphan-drug designation and rare pediatric disease designation by the U.S. FDA in 2019 for the treatment of bone cancer. The successful submission of clinical trial application for ALMB-0168 in Australia was based on the results from in vitro and in vivo pharmacology and efficacy studies, as well as the safety profile demonstrated in pre-clinical toxicology studies. AlaMab also plans to initiate clinical trials for this innovative drug candidate in China, the U.S. and other countries.

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AlaMab is an innovative biopharmaceutical company in the U.S. dedicated to the research and development of first-in-class antibody drugs. ALMB-0166, another product of its own for the same target, is currently under phase I clinical trial for the treatment of acute spinal cord injury in Australia.

By Order of the Board

CSPC Pharmaceutical Group Limited

Cai Dongchen

Chairman

Hong Kong, 27 November 2019

As at the date of this announcement, the Board comprises Mr. CAI Dongchen, Mr. ZHANG Cuilong, Mr. WANG Zhenguo, Mr. PAN Weidong, Mr. WANG Huaiyu, Dr. LU Hua, Dr. LI Chunlei, Dr. WANG Qingxi and Mr. CHAK Kin Man as executive directors; Mr. LEE Ka Sze, Carmelo as non-executive director; and Mr. CHAN Siu Keung, Leonard, Mr. WANG Bo, Prof. LO Yuk Lam, Dr. YU Jinming and Mr. CHEN Chuan as independent non-executive directors.

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