HONG KONG,CHINA - Media OutReach - 2 August 2019 - Great Bay Bio, a leading biotechnology company dedicated toinnovative biologics CMC (Chemistry Manufacturing and Controls) and developmentof biologics development big data platform, the board is pleased to announce theintroduction of a new non-executive director, Mr. William Kung. This is now acritical time for Great Bay Bio for rapid development of its core competitivecompetencies. The addition of industrial elites from different professionalbackgrounds will help accelerate certain milestones, building long-term valuefor the company.

Mr. Kunggraduated from York University in Canada with master degree in economics, and iscurrently an AICPA (American Institute of Certified Public Accountant). Mr. Kunghas worked for seven years in Principal Global Investors LLC in Hong Kong and USA. He has helped manage morethan $9 billion in global assets for customers including global sovereign fundssuch as GIC in Singapore. During his tenure at SouthWest SecuritiesInternational Securities Ltd., he was responsible for quantitative trading offinancial products in Hong Kong and PRC. And in the last three years, he hascontinuously outperformed the Chinese state-owned enterprise index. Since June2019, Mr. Kung has been responsible for establishment of investment funds asthe Executive Director in the asset management department of HeungKong FinancialGroup, and has led the Post Acquisition Management in consumer and technologyindustries.

On Mr. Kung directorship,Mr. Kingsley Leung said, "Mr. Kung's arrival is well-timed, his strongfinance background and network with PRC and international investors will certainlyhelp our planned fund raising event later this year. Since our establishment, GreatBay Bio has adhered to the vision that targets the world, not just China. Wewant to effectively integrate global capital markets, biopharmaceutical industry,and new technologies to help solve growing problems in drug development, suchas low R&D productivity. Any incremental improvement in drug developmentcan significantly reduce cost to our partners and, ultimately benefitingpatients by allowing new drugs to be offered at a lower price point. Mr. Kung'saddition to the board can give us new perspective of achieving our mission andvision from the point of view of stronger governance. Effective governancestructure is paramount in attracting new investors and strategic partners,which are the key drivers of value generation in the near term. This is exactlywhat Great Bay Bio needs most now. I would like to deliver a warm welcome toMr. Kung for joining the team, and I look forward to working closely with him."

Mr. William Kung

Brief Introduction to Other Members of the Board

Mr. KingsleyLeung, Chairman of the Board and Co-Founder of Great Bay Bio, graduated fromImperial College London and the University of Oxford with life sciencesdegrees. Recently, he also attained an EMBA from Tsinghua-INSEAD joint program.Prior to the founding of the Great Bay Bio, Mr. Leung is the Chairman ofUni-Bio Science Group, a listed Biopharmaceutical company（HK0690）in HKEx main boardand has years of broad experience in fund raising, management andgovernance for biopharmaceutical enterprises.He has also worked in a biopharmaceutical start-up in Singapore as a BD manager,successfully licensing in the next generation oncology, inflammation andrespiratory drugs from MNCs. Mr. Leung also has experience in the financeindustry where he worked in a budge bracket investment bank and family office,and is currently a Chartered Financial Analyst.

Dr. MichaelChan，CEOand Co-Founder of Great Bay Bio, graduated from the Doctor of Biochemistry,University of Georgia, USA. He has more than 30 years of rich experience inbiomedical research and development and projects' management. He hassuccessively held senior management positions from different famouspharmaceutical companies based in the USA and China. In particular, he has everbeen a distinguished leader for 5 projects of Biosimilar and innovativemacromolecule's IND Application during the same period within 3 three years. Dr.Chan has published more than 18 articles and patents in international SCIjournals.

Kingsley Leung (R) and Michael Chan (L)

About Great Bay Bio

Headquarteredin Hong Kong, the CMC/CDMO platform of Great Bay Bio was established in 2002,where originally more than 3100 million yuan was invested into R&Dequipment. The CMC/CDMO platform has independent and integrated technologyplatform for drug R&D and large-scale preparation. The company has a strongexisting track record of developing customized CMC packages for productsentering NDA stage, some of which are national class I projects of innovativebiological New drugs.

Great Bay Biois leveraging its advantages of an established platform for development of anew vertical in CMC. Specifically, Great Bay Bio strives to utilize AI and othercutting-edge technologies to shorten CMC development timelines, lower certain cost,and increase efficiency of CMC. With such a platform, it could expand andacquire new customer base, and brings fundamental changes to drug development,and ultimately benefiting society and patient.

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 CMC platformencompasses an area of over 3100 square meter, and has a whole set of advancedbiopharmaceutical research and development hardware and facilities, with key equipmentfrom well-class brands such as Sartorius, Bio-Rad, GE Healthcare, and Waters.The pilot workshop is designed strictly in accordance with GMP requirements.The overall clean room standards of C-level and partial A-level.