1.Date of occurrence of the event:2023/07/03
2.Counterparty to the contract or commitment: Ablexis, LLC
3.Relationship with the Company: None
4.Starting and ending dates (or rescission date) of the contract or commitment: 2023/07/03
5.Major content (not applicable where rescinded):
(1)Based on the increasing importance of Nectin-4 as a novel anti-cancer target, OBI has engaged AlivaMab Discovery Services, LLC to use the proprietary AlivaMab Mouse technology from Ablexis, LLC (hereafter referred to as “Ablexis”) to generate anti-Nectin-4 antibody candidates. The Company’s Board of Directors resolved to license “Nectin-4 Human Antibody” worldwide rights from Ablexis, as a result
of the aforementioned engagements, to research, develop, manufacture, and commercialize anti-Nectin-4 cancer therapeutics such as antibody drug conjugates, bispecific antibodies, etc. The license agreement
would further strengthen OBI’s novel anti-cancer therapeutic pipelines and meet the company’s mid- to long-term plans.
(2)Under the terms of the agreement, the license fees include an upfront payment upon signing, future development milestones, and sales royalties. OBI will disclose the future financial payments as required
by relevant regulations.
6.Restrictive covenants (not applicable where rescinded): Pursuant to the license agreement.
7.Commitment (not applicable where rescinded): Pursuant to the license agreement.
8.Any other important agreement (not applicable where rescinded): None
9.Effect on company finances and business:
The target, Nectin-4, is overexpressed in multiple cancers and is associated with tumor progression and poor prognosis. Given the high potential of the target, OBI licensed the rights to Nectin-4 human
antibodies from Ablexis to develop novel cancer therapeutics. Upon favorable clinical development results, the products could generate commercial return for OBI.
10.Concrete purpose/objective: To further strengthen OBI’s novel anti-cancer therapeutics pipeline.
11.Any other matters that need to be specified(the information disclosure also meets the requirements of Article 7, subparagraph 8 of the Securities and Exchange Act Enforcement Rules, which brings
forth a significant impact on shareholders rights or the price of the securities on public companies.):New drug development is a long process, with vast investments and no guarantee in success which may pose investment risks. The investors are advised to exercise caution and conduct a thorough evaluation.