HONG KONG, Jun 23, 2022 – (ACN Newswire) – EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong, announces today its audited annual results for the fiscal year ended 31 March 2022 (the "Year").

Business Highlight
— Sales volume achieved record high of HK$3,122.3 million, up 40.7% YoY
— Total revenue surged 40.3% YoY to a record high of HK$2,919.5 million
— Revenue from medical services segment increased significantly by 64.6% YoY to a record high of HK$1,689.0 million, boosting its revenue contribution to 57.9%
— Earnings before interest, taxes, depreciation, and amortization ("EBITDA") increased by 35.0% YoY to a record high of HK$536.4 million
— Net profit after tax for the Year was HK$270.5 million, increased by 19.9% YoY, basic earnings per share was 17.1 HK cents
— The board of directors (the "Board") proposed final cash dividend of 4.2 HK cents per share, which together with the interim dividend of 10.2 HK cents per share, will bring the total annual dividend to 14.4 HK cents per share, representing an annual dividend payout ratio of 84.2%
— As at 31 March 2022, the total valuation of the Group's M&A transactions completed was HK$641.1 million, spanning across veterinary, dental, and various medical specialties, which further strengthened the Group's medical services layout
— The Group's suite of medical services extends to 29 specialist disciplines, and the number of full-time and exclusive registered practitioners has increased to 251
— Total number of service points increased to 147, total gross floor area increased by 34.2% YoY to approximately 534,000 sq. ft
— The Group has been committed to its social responsibility during the COVID-19 pandemic by deploying resources to provide a wide range of anti-pandemic services, aiding the joint fight against the virus
— The Group maintained the leading role as the largest medical service provider (non-hospital) in Hong Kong in terms of revenue in 2021, according to Frost and Sullivan

During the Year, the Group's businesses demonstrated strong resilience to grow continually amidst a challenging operating environment caused by the fifth wave of the COVID-19 outbreak in Hong Kong, and further consolidated its leading position in the industry. The Group posted a record high sales volume of HK$3,122.3 million, up 40.7% year-on-year ("YoY"), while revenue also surged by 40.3% YoY to a record high of HK$2,919.5 million. Organic revenue increased by 49.8% YoY to HK$2,761.4 million, accounting for 94.6% of the total, thanks to the Group's long-term investments in technology, service, branding, corporate culture, and its flexible and effective operations management.

During the Year, medical segment continued to be the key growth driver as medical revenue marked record high and increased significantly by 64.6% YoY to HK$1,689.0 million. The Group's EBITDA (earnings before interest, taxes, depreciation, and amortization) increased by 35.0% YoY to a record high HK$536.4 million. The Group's net profit after tax for the Year increased 19.9% YoY to HK$270.5 million, however net profit margin is under pressure of the suspension of the Group's beauty and wellness businesses in Hong Kong for a total of 104 days (total 84 days during the Year) in compliance with government pandemic control measures.

The net profit attributable to equity shareholders of the Company increased by 2.4% YoY to HK$197.5 million. Basic earnings per share was 17.1 HK cents, compared to 18.8 HK cents for the same period last year. The board of directors proposed a final cash dividend of 4.2 HK cents per share.

During the Year, the number of unique customers steadily increased to 182,300 (1) during the Year and the contribution from existing customers accounted for 64.3% (2 )to the Group's total revenue. Customer loyalty remained high with repurchase purchase rate of 90.2% (3). Driven by the synergies created by the Group's enclosed healthcare ecosystem, over 27.5% (4) of its customers have made purchases across its various brands in the Year. Meanwhile, the Group has maintained premium service quality with 99.96% (5) of customers' satisfaction rate. The Group maintained its leading role as the largest medical service provider (non-hospital) in Hong Kong in terms of revenue in 2021, according to Frost and Sullivan.

Our number of service points increased through organic expansion and acquisition growth. During the Year, we have ventured into veterinary business and acquired 7 vet clinics and 2 vet advanced imaging centers. As at 31 March, 2022, the Group had total number of service points of 127 in Hong

Kong, 4 in Macau and 16 in Mainland China with total gross floor area of approximately 534,000 sq. ft. Out of the net increase of approximately 136,000 sq. ft. floor area in FY2022, 71.9% came from the medical business and 28.1% from the aesthetic medical and beauty and wellness services business.

Strong growth in medical segment
For medical business, demand for the Group's medical services remained strong in FY2022. The Group continued to grow its market share through both organic and M&A growth strategies. Revenue from the Group's medical services segment increased significantly by 64.6% YoY to a record high HK$1,689.0 million, boosting its revenue contribution to 57.9%, of which organic expansion and M&A completed during FY22 accounted for 95.0% and 5.0% respectively. Organic growth is driven by surged demand for COVID-19 related services and rising healthcare sentiment. During FY22, the total valuation of acquisitions completed in medical segment was HK$460.7 million, spanning dental and various medical specialties. The Group's suite of medical services spans 29 specialist disciplines, and our headcount of full-time and exclusive registered practitioners has increased to 251.

Resilient result from aesthetic medical and beauty and wellness services segment
For aesthetic medical and beauty and wellness business, the Group demonstrated its resilience by achieving steady growth, thanks to the brand capital established over the years. During the Year, revenue contributed by aesthetic medical and beauty and wellness services increased by 10.2% YoY to HK$1,091.2 million. Revenue from Hong Kong remains stable at HK$804.7 million. Revenue from Mainland China increased by 28.4% YoY to HK$173.2 million, while revenue from Macau, China surged 119.6% YoY to HK$113.4 million due to a strong recovery of medical tourism.

Embracing social responsibility by stepping up our response in the community during COVID-19
As Hong Kong's leading private healthcare service provider, the Group stepped up during the COVID-19 pandemic to provide a wide range of anti-pandemic measures to the public. For example, we offered telemedicine and drug delivery services through our clinics as well as government-approved nucleic acid tests (RT-PCR) and antibody tests through our accredited laboratories. The Group also provides COVID-19 vaccinations to the public and has joined hands with charitable organizations to donate rapid test kits to those in need.

Set up 2030 sustainability goals
To assimilate sustainability into our business, the Group has taken a proactive approach to set up a sustainability working group with board of directors' oversight to execute our sustainability strategy. We have conducted stakeholder engagement surveys and set up our 2030 sustainability goals based on the findings. Operation & IT-related risks atop our stakeholders' concerns, we will further advance our operation protocols and have engaged third party consultant to review our data governance policy.

Latest Business Developments after the Reporting Period
After the annual reporting period, the Group has announced the acquisitions of two new medical businesses and formed one joint ventures, which will further expand the market share of the Group's medical business and extend the scope of the Group's medical services and its business presence.

On 7 April 2022, the Group announced to acquire 75% of the issued share capital of a veterinary hospital in Tai Po for a total consideration of HK$15.75 million in cash. Upon completion, the Group will operate a total of 8 veterinary hospital, 2 veterinary imaging centers in Hong Kong.

On 23 May 2022, the Group announced to acquire 75% of the issued share capital of Mobile Medical International Holdings Limited and its subsidiaries for a total consideration of HK$41.25 million in cash. Upon completion, the Group will operate a total of 6 health screening services centers, covering New Territories, Kowloon and Hong Kong Island, thereby further consolidating the health screening market in Hong Kong.

On 6 June 2022, the Group announced to spearhead an unprecedented medical tenant – landlord collaboration and formed a joint venture with a real estate investment management company, KaiLong Group and Asia Allied Infrastructure Holdings Limited to co-build a premium purpose-built medical grade building in Hong Kong. The Group will be the anchor tenant of this Medical Building upon completion. The Group has conditionally agreed to make initial capital contributions to the joint venture company of up to HK$275 million, which will represent 30% of the total enlarged issued share capital of the joint venture company.

On 21 June 2022, the Group signed its first sustainability-linked facility ("SLL Facility") totaling HK$ 700 million. This inaugural dual-tranche SLL Facility is a first-of-its-kind for a healthcare services provider in Hong Kong, complementing the Group's established status as a leading industry pioneer and reaffirms the importance of sustainability in the Group's future growth strategy.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "The Group believes the medical market will remain relatively resilient under the challenging environment and public-private partnership will continue to increase Hong Kong's private medical spending in the long run. Looking forward, the Group we will diversify within medical and beauty sectors, which allow us to further increase in service offerings to our customers to better meet their needs. We will also continue to expand our strategic partnerships with key players in technology, telecom, property, insurance and pharmaceutical industries to form our healthcare ecosystem.

The Group committed to uphold sustainability principles. Moving forward, we will excel through our sustainability journey together with our much-valued stakeholders. We will also be proactive in continuously refining our strategies for the overall welfare of our company and the greater community."

About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, a advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021

1. Based on revenue for the year
2. Revenue contribution by existing customers to the total revenue for the year
3. Customers of FY21 contribution in FY22 divided by the total revenue in FY21
4. Number of customers who purchased services from more than one brand for the year divided by total number of customers for the year
5. 100% minus the percentage of material unfavourable feedback of total revenue for the year

For further information, please contact:
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Fax: (852) 3170 6606
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HONG KONG, Jun 21, 2022 – (ACN Newswire) – EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce the signing of its first sustainability-linked facility ("SLL Facility") totalling HK$ 700 million with The Hongkong and Shanghai Banking Corporation Limited ("HSBC") as sole lender and sustainability structuring bank.

The inaugural dual-tranche SLL Facility is a first-of-its-kind for a healthcare services provider in Hong Kong, complementing the Group's established status as a leading industry pioneer and reaffirms the importance of sustainability in the Group's future growth strategy. The SLL Facility is comprised of a revolving credit and a term loan, and the proceeds will be used for working capital.

The Group is committed to the United Nations 2030 Sustainable Development Goals and has developed a number of clear targets against each of the environmental, social, and governance ("ESG") elements. These include reducing energy consumption, increasing employee engagement, and achieving a globally recognized standard in relation to corporate governance.

SGS Hong Kong Limited, a leading sustainability consultancy firm, acted as ESG consultant on the SLL Facility.

Ms. Ada Wong, Executive Director, Chief Strategy Officer & Chief Investment Officer of EC Healthcare said, "This maiden sustainability-linked facility is an important milestone and represents another bold step in the Group's sustainability journey. As the leading healthcare and medical services provider in Hong Kong, this transaction reflects the Group's desire to integrate sustainable development into its core business strategy as well as implement best practices into the daily operations of its various brands. We are delighted to align the Group's financing strategy with a number of impactful ESG goals, reinforcing our commitment to sustainability in the long-term. We are excited to set the stage for subsequent sustainable finance transactions in the Hong Kong healthcare market."

About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021

For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Charmaine Ip
Tel: (852) 2136 6952 / 2169 0467 / 3920 7649
Fax: (852) 3170 6606
Email: ech@iprogilvy.com


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HONG KONG, Jun 21, 2022 – (ACN Newswire) – SinoMab BioScience Limited ("SinoMab" or the "Company", together with its subsidiaries, the "Group", stock code: 3681.HK), a Hong Kong listed biopharmaceutical company dedicated to the research, development, manufacturing and commercialization of innovative therapeutics for the treatment of immunological diseases, primarily mAb-based biologics, today announced that, on 10 June 2022, the mechanism of action of its flagship product SM03 (Suciraslimab) is successfully published in the Journal of Immunology, a reputable journal on immunology in the US (link to the paper: https://www.jimmunol.org/content/early/2022/06/10/jimmunol.2100820 ).

The Journal of Immunology (the JI), founded in 1916 and managed and published by the American Association of Immunologists, is the world's leading peer-reviewed journal in the field of immunology, with a 5-year impact factor of 6.029 (Journal Citation Reports 2020), and publishes the latest immune-related findings in basic and clinical research in the field of immunology. It also publishes the latest research papers in the field of immunology, including cellular immunology, immunochemistry and molecular immunology, immunogenetics and immunomodulation, immunopathology and clinical immunology, immunopharmacology, microbial immunology, oncology and transplantation.

The Company's flagship product SM03 (Suciraslimab) is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis (RA). The patient enrollment for the Phase III clinical trial in China has been completed by the end of 2021, with a total of 530 subjects recruited. The trial is a multi-centre clinical study led by Peking Union Medical College Hospital of the Chinese Academy of Medical Sciences, with clinical centres in 44 hospitals including Gulou Hospital of Nanjing University School of Medicine, the Second Hospital of Harbin Medical University and the First Hospital of Shanxi Medical University. The Company expects to lock the database at the end of June this year, read out the results of the Phase III clinical trial data in early August and will have biologics license application (BLA) in 2023. In addition, the development of Suciraslimab has also received support from the 863 Program, the "12th Five-Year Plan" and the "13th Five-Year Plan" for development of major new drugs, as well as the green channel for "prioritized review and approval" by the Center for Drug Evaluation (CDE). Previously, a phase II clinical trial led by Peking Union Medical College Hospital has demonstrated the efficacy and safety of Suciraslimab for the treatment of RA.

The Company's flagship product Suciraslimab is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis. The core competitive advantage of this product over the standard therapies currently on the market is its novel and unique mechanism of action, which ensures that Suciraslimab is comparable to other products in terms of efficacy, while having significant advantage in terms of safety, which is a major concern for patients on long-term medication for autoimmune diseases.

Under normal operation of human's immune system, B-cell receptor (BCR) pathway would be activated and create strong signals in response to foreign ("non-self") antigens and trigger a series of B-cell immune responses. To differentiate from our "self" antigens, our body would recruit molecules, like SHP-1, to inhibit or reduce BCR-induced signaling, thereby suppressing B-cell immune responses. We suggested that the recruitment of these molecules such as SHP-1 could be achieved by conversion of cis-binding CD22 to trans-binding CD22, thus suppressing relevant immune responses.

Due to ageing or genetic predisposition, patients with autoimmune diseases such as RA are unable to convert cis-binding CD22 to trans-binding CD22, and are thus unable to recruit immunosuppressive molecules such as SHP-1 to inhibit or reduce the transmission of antigenic stimuli from B-cell receptors to B-cells, which then generate a series of immune responses, such as the secretion of large amounts of antibodies to attack autoantigens. Our flagship product, Suciraslimab, can facilitate the conversion of cis-binding CD22 to trans-binding CD22, forming a stable CD22 trans-binding structure, thereby restoring the tolerance of B-cells to autoantigens and inhibiting a series of relevant immune responses by B cells to attack the body.

Historical data shows that Suciraslimab has a significant safety advantage compared to other products with comparable efficacy currently available in the market. Existing RA therapies include traditional synthetic disease-modifying anti-rheumatic drugs (csDMARDs) such as methotrexate (MTX), biologic DMARDs (bDMARDs) targeting tumour necrosis factor (TNF), interleukin (IL)-6 receptors and other targets, as well as targeted synthetic DMARDs (tsDMARDs) such as Janus kinase (JAK) inhibitors and other small molecule drugs, all of which have played an important role in the remission of RA patients. However, most of the mechanisms of action of existing RA therapies will result in the depletion or death of B cells, which can have a series of side effects on human's autoimmune system, thus posing a long-term risk for patients with autoimmune diseases who require long-term medication, as the weakening of the immune system will naturally lead to the development of other debilitating diseases. In contrast, the mechanism of action of Suciraslimab is very different from that of existing therapies on the market. We only inhibit the B-cell related immune response by altering the binding of CD22 and recruiting related inhibitory molecules. Suciraslimab only inhibits the autoimmune response by regulating the function of B-cells and does not damage the B-cells and does not affect the normal function of B-cells in the immune system. Therefore, Suciraslimab has a significant safety advantage over other products currently available on the market.

The autoimmune disease drug market has been touted as the next gold mine after oncology drugs. As the "king of drugs" in the world, Humira has topped the global drug ranking for eight years with sales of US$19.832 billion in 2020, making other drugs "bow down". Globally, pharmaceutical giants are focusing on the research and development of drugs in the rheumatic immune field, with the most prominent ones including Pfizer, Novartis, Johnson & Johnson and AbbVie, all with more than a dozen products in development or marketed in their respective pipelines. The global autoimmune disease drugs market is valued at US$113.7 billion in 2018 and is expected to reach US$152.3 billion by 2023 at a CAGR of 6.0%. The market for autoimmune disease drugs in China is expected to grow from RMB13.4 billion in 2018 to RMB37.7 billion in 2030 at a CAGR of 23%. Driven by the global trend of innovation, R&D in rheumatic immune field in China is also gaining momentum. As a leading pharmaceutical innovator in China, Hengrui Pharma has also adopted a strategy of early development, target optimization and expansion of indications in the rheumatic immune field, aiming to fully capitalize on the rapid development of the autoimmune disease market in China. This indicates that SinoMab's mission and vision to become a global leader in innovative therapies for immune and other debilitating diseases are in line with the development trend of the entire pharmaceutical industry. In the foreseeable future, it is believed that SinoMab will help more and more patients suffering from autoimmune diseases and become a leading global biopharmaceutical company focusing on innovative therapies for autoimmune diseases.

In addition to its flagship product Suciraslimab, the Company's core product SN1011 has an expanding scope of indications and continues to receive regulatory approval for new drug applications in China and abroad, and also expects to rapidly initiate Phase II clinical trials for pemphigus vulgaris (PV), multiple sclerosis (MS), systemic lupus erythematosus (SLE) and neuromyelitis optica spectrum disorder (NMOSD) this year. SinoMab also dosed first healthy subject in Phase I clinical trial of its major product SM17 in the U.S. in June 2022. By targeting upstream mediators of the Th2 inflammatory cascade, SM17 is able to control inflammatory airway diseases such as asthma caused by the immune cascade at a relatively early stage and is expected to benefit a large number of patients with severe uncontrolled asthma by satisfying unmet medical needs.

About SinoMab BioScience Limited
SinoMab BioScience Limited (stock code: 3681.HK) is dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases. The Company's flagship product SM03 is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis (RA) and is currently in Phase III clinical trial for RA in China, which has been recognized as one of the significant special projects of Significant New Drugs Development of the Twelfth Five-Year Plan Period and the Thirteenth Five-Year Plan Period. In addition, the Company possesses other potential first-in-target and first-in-class drug candidates, some of which are already in clinical stage, with their indications covering rheumatoid arthritis (RA), systemic lupus erythematosus (SLE), pemphigus vulgaris (PV), non-Hodgkin's lymphoma (NHL), asthma, and other diseases with major unmet clinical needs.



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HONG KONG, Jun 15, 2022 – (ACN Newswire) – SinoMab BioScience Limited ("SinoMab" or the "Company", together with its subsidiaries, the "Group", stock code: 3681.HK), a Hong Kong-based biopharmaceutical company dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases, today announced that, the first healthy subject has been dosed in the Phase I clinical trial of SM17 in the U.S. SM17 is a First-in-Class (FIC) humanized anti-IL-17RB monoclonal antibody. The subject is currently in a normal condition.

SM17 is the world's first humanized IgG4-k monoclonal antibody targeting IL-17RB. SM17 is currently under development by SinoMab, and was engineered by LifeArc (a leading medical research charity based in the United Kingdom). SM17 was originally developed by Dr. Andrew McKenzie, FRS, who also serves as a member of the Company's Scientific Advisory Board, at the MRC Laboratory of Molecular Biology (LMB).

SM17 could suppress Th2 immune responses by binding to IL-17RB on Type 2 Innate Lymphoid cells (ILC2s), blocking a cascade of responses induced by interleukin-25 (IL-25). IL-25 is a critical cytokine classified as "alarmin", which has shown to be implicated in the pathogenesis of airway viral responses and allergic diseases, such as uncontrolled severe asthma. Uncontrolled severe asthma is associated with increased mortality/ morbidity, diminished quality of life and increased health expenditures. These patients are at a risk of recurrent asthma exacerbations and hospitalizations. The Company expected that targeting upstream mediators of the Th2 inflammatory cascade, such as IL-17RB on ILC2s, will have a broad effect on airway inflammation. The Company believes the huge potential of SM17 could satisfy unmet medical needs in asthma treatment. The Phase I study is a Single Ascending Dose (SAD) and Multiple Ascending Doses (MAD) to investigate the safety, tolerability and pharmacokinetics of SM17 in healthy subjects.

SM17 received Investigational New Drug (IND) approval from U.S. Food and Drug Administration (FDA) on 11 March 2022. Despite the pandemic, SinoMab have soon initiated the first-in-human dose in the Phase I clinical trial. This marks a significant milestone on the collaboration between SinoMab and LifeArc, and demonstrates the efficient implementation of SinoMab's new drug R&D programs.

Melanie Lee, Chief Executive Officer of LifeArc, said: "We applied our antibody capabilities when working with Dr. Andrew McKenzie at the LMB, to firstly generate and select a clinical candidate antibody targeting IL-17RB, and then humanise it. After evaluating and choosing the lead candidate, it was licensed to SinoMab to take forward into clinical development and towards patients. It's so rewarding to know that this antibody is going into trials and could eventually make a difference to people with severe asthma."

Dr. Shui On LEUNG, Chairman, Executive Director and Chief Executive Officer of SinoMab said that: "SM17's successful first-in-human dosing in Phase I clinical trial marked another milestone in our pipeline development. Following our flagship product, SM03 and key product, SN1011, we now have another key asset entering the clinical trial stage. This further assures our potential commercialization prospects and proves our capability for progressing multiple assets of R&D concurrently. We are confident of the enormous prospects for SM17's clinical development as well as our commercialization opportunities in general. Moving forward, we will accelerate implementation of our projects, adhere to our vision of independent innovation to bring benefits to patients and create value for shareholders."

About LifeArc
LifeArc is a self-financing and leading UK medical research charity. It partners and works with academics, industry, charities and patient groups to unlock the potential of early stage science. It has an office in London and scientific research facilities in Stevenage and Edinburgh. It also has a specialist science team working at the Francis Crick Institute in London.

About SinoMab BioScience Limited
SinoMab BioScience Limited (stock code: 3681.HK) is dedicated to the research, development, manufacturing and commercialization of therapeutics for the treatment of immunological diseases. The Company's flagship product SM03 is a potential global first-in-target mAb against CD22 for the treatment of rheumatoid arthritis (RA) and is currently in Phase III clinical trial for rheumatoid arthritis in China, which has been recognized as one of the significant special projects of Significant New Drugs Development of the Twelfth Five-Year Plan Period and the Thirteenth Five-Year Plan Period. In addition, the Company possesses other potential first-in-target and first-in-class drug candidates, some of which are already in clinical stage, with their indications covering rheumatoid arthritis (RA), systemic lupus erythematosus (SLE), pemphigus vulgaris (PV), non-Hodgkin's lymphoma (NHL), asthma, and other diseases with major unmet clinical needs.


Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com