PHANES AND HANMI ANNOUNCE LICENSING AGREEMENT TO DEVELOP BI- AND/OR MULTI-SPECIFIC ANTIBODIES

(San Diego, USA, Seoul, Korea, and Beijing, China – September 17, 2019)

Phanes Therapeutics, Inc. (Phanes), an emerging leader in innovative discovery research in immuno-oncology announced today that it has signed a licensing agreement with Hanmi Pharmaceutical Co., LTD (Hanmi), a well-known global player in the biopharmaceutical field, for the development of bi- and/or multi-specific antibodies for immuno-oncology applications. Under the terms of the agreement, Hanmi will evaluate and license antibody sequences against an undisclosed target from Phanes and use them in multiple projects under the Pentambody platform, a proprietary bispecific antibody technology developed by Hanmi’s subsidiary in Beijing.

Under the terms of the agreement, Hanmi will be responsible for the discovery, development, manufacturing and commercialization of the bi- and/or multi-specific antibodies and has exclusive worldwide commercial rights to the molecules for any cancer indications. Phanes will receive upfront and milestone payments plus royalty fees. The details of the financial terms were not disclosed.

“Phanes is an emerging leader in innovative discovery research in the immuno-oncology area and we have demonstrated significant differentiations that we believe will be clinically meaningful in multiple internal programs. We are extremely excited about partnering with Hanmi in the bi- and multi-specific antibodies area with the ultimate goal of providing cancer patients with new treatment options. We have clearly demonstrated the differentiation between our lead mAb and competitor molecules with respect to its mechanism of action. It has great potential to resolve the issues we are facing in the clinic,” said Dr. Ming Wang, PhD, MBA, CEO of Phanes Therapeutics, “At Phanes, our mission is to become a source of innovation in the biopharma industry and we are fully committed to delivering robust therapeutic molecules to patients. But we can’t do it alone; we will continue to leverage partnerships with companies that have capabilities complementary to ours.”

"Through the collaboration with Phanes, we are planning to expand the potential of the Pentambody platform in innovative immuno-oncology field and generate new treatment options for patients suffering from cancers." said Sechang Kwon, President and CEO of Hanmi pharmaceuticals.

About Phanes Therapeutics, Inc.
Phanes Therapeutics is an innovative drug discovery company focusing on oncology and eye diseases with multiple first-in-class and best-in-class molecules in its pipeline. It was founded in 2016 by former Janssen/J&J Vice President Ming Wang, PhD, MBA. Phanes’ R&D centers are operating in San Diego, California and Guangdong, China. For more information on Phanes, please visit www.phanesthera.com.

About Hanmi Pharmaceutical Co., LTD
Hanmi Pharmaceutical is a Korea-based global pharmaceutical company focused on the development and commercialization of new pharmaceutical products. The Company is fully integrated from R&D through manufacturing, marketing and sales with an established presence in Korea as well as China. More information on Hanmi is available at www.hanmipharm.com.