SHANGHAI, China, July 21, 2026 — ImmuneOnco Biopharmaceuticals (Shanghai) Inc. (“ImmuneOnco”; HKEX Stock Code: 01541.HK) announced today that the first patient has been successfully dosed in the Phase I clinical study of IMM2510S, a subcutaneous injection formulation of palverafusp alfa (IMM2510), an in-house developed VEGF×PD-L1 dual-target agent. This milestone is expected to provide a novel treatment option for patients with advanced solid tumors through a more convenient and safer route of administration.

IMM2510 is a VEGF×PD-L1 dual-targeting agent developed on ImmuneOnco’s proprietary mAb-Trap platform. It exerts its antitumor effects through multiple mechanisms, including the activation of T cells via blockade of the PD-1/PD-L1 signaling pathway, remodeling of the tumor microenvironment through VEGF signaling inhibition, and the induction of antibody-dependent cellular cytotoxicity (ADCC) and phagocytosis (ADCP). Since the initial Investigational New Drug (IND) application was submitted in 2020, the clinical development of IMM2510 progressed steadily. Monotherapy with IMM2510 demonstrated promising efficacy in later-line squamous non-small cell lung cancer (SQ-NSCLC). Furthermore, multiple Phase II IND applications were approved for IMM2510 in combination with chemotherapy in the perioperative setting for resectable SQ-NSCLC and esophageal squamous cell carcinoma (ESCC), as well as for advanced or recurrent endometrial cancer. Additionally, the combination of IMM2510 and IMM27M shown remarkable antitumor efficiency in a Phase Ib study, demonstrating early signs of efficacy and good tolerability in solid tumors, including ESCC, that had progressed on prior immunotherapy.

To address the clinical challenges associated with traditional intravenous (IV) administration—such as prolonged hospitalization, high healthcare resource expenses, and poor patient compliance, ImmuneOnco successfully developed the subcutaneous formulation IMM2510S by its proprietary hyaluronidase technology platform. The formulation of recombinant human hyaluronidase (rHuPH20) enables rapid, large-volume subcutaneous delivery of macromolecular drugs. The pharmacokinetic profiles are optimized by reducing peak drug concentrations and extending exposure time to enhance the safety and efficacy of the drug. The first dosing of IMM2510S marks the translation of our innovation in subcutaneous delivery, bringing a more convenient therapeutic option to patients with advanced solid tumors.

Dr. Wenzhi Tian, Chairman, Chief Executive Officer, and Chief Scientific Officer of ImmuneOnco, stated, “The successful first patient dosing in the Phase I clinical study of the IMM2510S, the subcutaneous formulation of IMM2510 is a significant milestone in our commitment to ‘patient-centric’ approach. By transitioning from intravenous to subcutaneous administration, we optimized a dosage form to reshape patient’s treatment experience. We look forward to IMM2510S demonstrating efficacy and safety profiles in subsequent clinical studies that are comparable to, or even superior to those of the IV formulation, so that it can benefit a broader population of patients with advanced solid tumors as soon as possible.”

Dr. Zhuli Wu, Chief Medical Officer of ImmuneOnco, commented, “We are glad to see the completion of the first subcutaneous dosing of IMM2510S today. We will continue to advance the Phase I clinical trial and subsequent clinical development with rigorous scientific standards. Our goal is to bring this innovative combination of ‘highly efficacious dual-targeting and convenient formulation’ to market as soon as possible, providing solutions for patients to overcome immunotherapy resistance and improve treatment compliance.”