The board (the “Board”) of directors (“Directors”, and each a “Director”) of the Company is pleased to announce that the National Medical Products Administration of the People’s Republic of China (the “NMPA”) has accepted the Group’s application for a clinical trial of IMC-003/IMM72 for the treatment of pulmonary arterial hypertension (PAH). This marks a milestone achievement in the Group’s rapid advancement of clinical research of non-oncology diseases.

ABOUT IMC-003/IMM72

IMC-003/IMM72 is a new generation activin receptor type IIA-Fc (ActRIIA-Fc) fusion protein through genetic engineering modification with improved activity and quality attributes. The Group owns the global intellectual property rights and development and commercialization rights of IMC-003/IMM72. As of the date of this announcement, in relation to IMC-003/IMM72, the Group owned one patent family, which includes issued patents in China, the United States, Japan and the European Union.

Cautionary Statement required by Rule 18A.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited: The Company cannot guarantee that it will be able to develop, or ultimately market, IMC-003/IMM72, successfully. Shareholders and potential investors of the Company are advised to exercise due care when

dealing in the shares of the Company.