The Board of directors of the SinoMab BioScience Limited announced that August 22, 2022, an Investigational New Drug application for SN1011 was approved by National Medical Products. Administration of China (the ``NMPA''). The IND approval would enable the Company to initiate the Phase II/III clinical study to evaluate the efficacy and safety of SN1011 in patients with NMOSD in China.

The planned first patient enrollment is in the first quarter of2023. SN1011 is the Company's third generation, covalent reversible BTK inhibitor designed to exhibit high selectivity with prolonged but controlled drug exposure to achieve superior efficacy and good safety profile for the long-term treatment of systemic lupus erythematous, pemphigus, multiple sclerosis, and other rheumatology or neuro-immunological diseases. SN1011 differentiates from existing BTK inhibitors currently available in the market, such as Ibrutinib, in terms of mechanism of action, affinity, selectivity and safety.

SN1011 had obtained four IND approvals (for systemic lupus erythematosus (SLE), pemphigus, multiple sclerosis (MS) and NMOSD) from the NMPA.