Clarification on the news article by Commercial Times

Important Resolutions of AGM 2017
June 28, 2017
Clarification on the news article by China Times
July 12, 2017
  1. Date of occurrence: June 29, 2017
  2. Company name: OBI Pharma, Inc.
  3. Relationship to the Company (please enter ”head office” or ”affiliated company”): N/A
  4. Reciprocal shareholding ratios: N/A
  5. Name of mass media: Page B4 of Commercial Times
  6. Content reported: Commercial Times reported that “…The IND for OBI-888 will be obtained by the end of the year or in the beginning of next year, and the human trial will begin.
  7. Cause of occurrence: None.
  8. Countermeasures:  The Investigational New Drug (IND) application for monoclonal antibody drug OBI-888, which is currently in pre-clinical, is estimated to be submitted at the end of the year or early next year. When the IND is filed, official announcements will be made according to relevant laws and regulations.
  9. Any other matters that need to be specified: New drug development is a long process with high inherent cost. It is not a guaranteed success, which may increase the risk of investment. Investors shall make prudent judgments and investments.