Kintor Pharmaceutical Limited announce that on 25 October 2022, the Company has completed the enrollment and dosing of all 120 subjects for its phase I clinical trial (the "Phase I Clinical Trial") of GT20029, a novel androgen receptor ("AR") proteolysis targeting chimera ("PROTAC") compound developed by the Group, in the U.S. for the treatment of androgenetic alopecia ("AGA") and acne. The Phase I Clinical Trial is a randomized, double-blind, placebo-controlled, parallel group, dose escalation study to evaluate the safety, tolerability and pharmacokinetics of GT20029 following single ascending dose in healthy subjects and multiple ascending dose administration in subjects with AGA or acne. The U.S. Food and Drug Administration ("FDA") cleared the Phase I Clinical Trial in July 2021.

In February 2022, the enrollment and dosing of the first subject in the Phase I Clinical Trial was completed. Developed by the Company's proprietary PROTAC platform, GT20029 is the first topical PROTAC compound that has entered the clinical stage globally. In preclinical studies, by degrading AR protein, GT20029 can effectively block the shrinkage and miniaturization of hair follicles caused by activated AR signaling pathway.

As the result, it prevent ed the hair from thinning, softening and falling out. GT20029 can effectively inhibit local andr ogenetic effects and avoid systemic exposure by limiting skin penetration, achieving good safety. Furthermore, the China National Medical Products Administration ("NMPA") cleared the clinical trial application of GT20029 for treating AGA and acne in April 2021.

In August 2022, the enrollment and dosing of subjects for phase I clinical trial of GT20029 in China was completed.