HONG KONG,CHINA - Media OutReach - 3 June 2019 - Great Bay Bio, aleading biotechnology company dedicated to innovative drug CMC (ChemistryManufacturing and Controls) and pre-clinical development of big data serviceplatform, announced its formal establishment in Hong Kong today and the Chairman,Mr. Kingsley Leung is pleased to appoint Mr. Michael Chan as CEO and co-founderof the company on behalf of the board. Dr. Michael Chan has officially assumedhis duties on May 20. He will formulate a sustainable development strategy for GreatBay Bio and be responsible for the overall operation and management of theenterprise. The Headquarter will be based inHong Kong and expand its business domestically and internationally. The companycurrently focuses on two major business lines-CMC platform technology servicesand product development, including 2 subsidiaries as Dongguan Taili Biotech Co.,Ltd. and Guangdong Taili Biomedical Technology Co., Ltd. Before its establishment,Great Bay Bio has won the favor of many financial investment institutions andstrategic investment institutions.

Development Target and Unique Development Model ofGreat Bay Bio

1)Focusing on the Fusion and Development of Greater Bay Area to HelpPharmaceutical Innovation

In 2018, the GreaterBay Area of Guangdong, Hong Kong and Macao became a national strategy toencourage all kinds of scientific and technological innovation resources in thisArea to cooperate and complement each other, and enterprises to developtogether. After carefully studying the innovative thinking of the developmentstrategy of this Area, Great Bay Bio began to gather the leading wisdom ofexperts and scholars in the field of life science and biotechnology and elitesfrom all walks of life sciences, expecting to help China's biotechnologyR&D capability upgrade faster and better, and to support the development ofbiomedical industry in the region towards scale, agglomeration andinternationalization.

Based on theprinciple of mutual benefit and win-win, Great Bay Bio closely adheres to theexisting superior resources and development goals, providing high-quality CMCone-stop service for domestic and foreign pharmaceutical partners. The companyhas a full set of leading biomedical development equipment and facilities, andhas successful experience in developing E. coli, yeast, CHO cells and otherproducts. It can provide CMC services and complete all the work from projectscreening, clinical sample production and product testing, such as drugdiscovery, sequence screening, plasmid construction, cell strain (bacterialstrain) construction, cell culture (fermentation), purification processdevelopment, preparation process development and quality research. Open servicemode the company has been exploring is called "equity-for-service model", whichcan provide new modes such as financial support plus technology equity and servicesupport plus share or intellectual property equity, providing a variety ofcooperation possibilities, insisting on the balanced development ofspecialization and diversity.

2)Constructing the talent echelon and exploring the new service package ofCMC/CDMO

The importanceof CMC research in the stage of new drug discovery and preclinical research isself-evident. Driven by the overall situation of the pharmaceutical industryand national policies, the domestic market of customized development andproduction of biopharmaceuticals (CDMO) is also rising rapidly. From 2016 to2020, the CDMO market of biological drugs in China will grow from 2 billionyuan to 10 billion yuan, and the compound growth rate will reach 35%. TheCMC/CDMO customized service market in the Greater Bay Area of Guangdong, HongKong and Macau has considerable potential, and international talents aregathered here. These advantages are the best business starting point for us.

Great Bay Bio'sService Platform of CMC/CDMO Technology and Pre-clinical Research and Big Data Developmenthas a technical team of over 40 scientists and investigators led by PhDs/seniorengineers. The team will offer an integrated service package with variabilityand customization.

Among the subdivisionsof the Service Platform in the field of biopharmaceutical innovationtechnology, the most noteworthy is the establishment of Fc Platform. The goalof this platform is to use Fc fragments of IgG to connect with unstable orshort half-life polypeptides, cytokines, hormones or enzymes to form fusionproteins, prolong their half-life in vivo and reduce the frequency ofadministration. The company uses Fc fragments of IgG2 subtype (wild type) orIgG4 subtype (S228P mutation) to fuse with different polypeptides, and hasincubated one project using this technology, rhEPO-Fc which is now in phase Iclinical research. The company is also looking to begin development ofadditional first-in-class and best-in-class products with prospectivetechnology partners. The most important feature of this platform is to use CMC technologyto carry out rapid pre-clinical research, such as molecular structure stabilitystudy, in vitro biological activity study, animal pharmacodynamics samplepreparation, process feasibility study, etc., which can quickly judge the possibilityof drug formation in the research projects.

3)Deepening the Service System and Constructing One-stop New Drug Service

Dr. Michael Chan,CEO, said: Based on the international perspective, the Science and TechnologyInnovation Park in Greater Bay Area of Guangdong, Hong Kong and Macao has madea long-term layout for the R&D and innovation capabilities of the NewEconomic Zone. Since the development and Preparatory Period of Great Bay Bioand its formation of the business concept in 2018, we have clearly realizedthat innovation in this Area is no longer confined to providing basicfacilities and sites for new drug research and development, and that greatervalue is to enable more industries. Internal experts, institutions andcross-border integrators jointly promote the development of pharmaceuticalenterprises, which has entered a new stage of development, and the orientationand implementation of industrial integration will continue to deepen. Themission of Great Bay Bio is to speed up the development and production ofbiological drugs, which is in line with our business operation now and in thefuture. The meaning lies in that faster development of products willsignificantly reduce R&D cost for our partners, which will ultimatelybenefit patients with cheaper innovative drugs. Great Bay Bio Biological'sbusiness model can provide precise and comprehensive customized one-stop newdrug service, which will occupy an important position in the biopharmaceuticalindustry chain. At the same time, it will further expand the service space andcapacity of biopharmaceutical and strive to become the best partner in thepharmaceutical industry.

Kingsley Leung (R) and Michael Chan (L)

Introductionof CEO and Co-Founder

Dr. Michael Changraduated from the Doctor of Biochemistry, University of Georgia, USA. He hasmore than 30 years of rich experience in biomedical research and development,team building and operation management, In particular, Michael has ever been a distinguishedleader for 5projects of Biosimilar and innovative macromolecule's IND Application duringthe same period within 3 three years. He has successively held seniormanagement positions, chief operating officer and President Positions in manyfamous pharmaceutical companies in the United States and Shanghai Hengrui. Dr.Chan has published more than 18 articles and patents in international SCIjournals.

Introductionof Chairman of the Board and Co-Founder

Mr. KingsleyLeung holds a BSc in Biochemistry from Imperial College London and an MSc inPharmacology from the University of Oxford. In addition, he is currently aChartered Financial Analyst and a member of The Hong Kong Society of FinancialAnalysts and holds a Professional Diploma in Corporate Governance &Directorship from the Hong Kong Institute of Directors. In 2018, Mr. Leungsuccessfully completed the Insead EMBA project held by Tsinghua University. Priorto the founding of the Great Bay Bio, Mr. Leung is the chairman of Uni-BioScience Group, a listed Biopharmaceutical company（HK0690）in HKEx main boardand has broad experience in sourcing, evaluating and executing new growthopportunities, supporting the execution and alliance management of multipledeals, including the in-licensing of next generation oncology, inflammation andrespiratory drugs from MNCs. Mr. Leung also has extensive experience in thefinance industry where he worked in a number of budge bracket investment banksand a family office.

About Great Bay Bio

Headquarteredin Hong Kong, the CMC/CDMO platform of Great Bay Bio was originally establishedin 2002. Dongguan Taili Biotech Co., Ltd. and Guangdong Taili BiomedicalTechnology Co., Ltd. were founded successively. The R&D equipment investedmore than 54 million yuan and the total R&D cost exceeded 300 million yuan.The CMC/CDMO platform has independent and integrated technology platform fordrug R&D and large-scale preparation. The company has a strong existingtrack record of developing CMC packages for products entering NDA stage, someof which are national class I projects of innovative biological New drugs.

The platformhas been recognized and certificated as "Patent FosteringEnterprise", "Patent Pilot Enterprise", "National High-techEnterprise", "Dongguan New R&D Institution", "GuangdongTop Ten Foreign-funded R&D Center" and "Guangdong GeneticallyPharmaceutical Engineering Research Center". Since 2006, it has undertakena number of government projects and obtained crucial breakthroughs in key areasof Guangdong and Hong Kong. Several provincial and national projects, such as"National Major New Drug Innovation", have been funded by governmentsupport of more than 20 million yuan.

The platformhas over 3100 square meters of research and Development Experimental sites, andhas a whole set of advanced biopharmaceutical research and development hardwareand facilities. The key equipments are labeled by Sartorius, Bio-Rad, GEHealthcare, Waters and other world-class brands. The pilot workshop is designedstrictly in accordance with GMP requirements. The overall purification level ofthe plant is C-level and partial A-level.

For moreinformation, you can visit Great Bay Bio's official website: www.greatbay-bio.com