LaNova Medicines and CBMG Enter into A Strategic Partnership

SHANGHAI, October 21, 2021 - LaNova Medicines and Cellular Biomedicine Group (CBMG), the world's leading cell therapy biopharmaceutical company, jointly announced that the two parties have entered a strategic partnership. The two companies will join forces in the field of solid tumor treatment and carry out in-depth cooperation in various aspects in order to meet the extensive clinical needs of cancer patients.

Spoke highly of this strategic collaboration, Dr. Crystal Qin, Chairman and CEO of LaNova Medicines, said: "Benefited from the continuous improvement of the policy environment in recent years and the openness and cooperation of domestic new drug R&D ecosystem, it is time for two biotech companies located in the heart of Zhangjiang district to partner up. Together, we will be able to develop more excellent products to benefit patients. This is a win-win cooperation based on synergy creation, and we are full of confidence and expectations for the future of this partnership."

Mr. Tony Liu, Chairman and CEO of CBMG Biotech, commented: "The field of solid tumor treatment is one of the top strategic priorities of CBMG in the future. We are very happy to cooperate with the LaNova team to fight solid tumors together. In the future, the two parties will continue to expand the depth and breadth of cooperation to meet more clinical unmet needs.

About LaNova Medicines: LaNova Medicines is a clinical stage biotech company founded by industry veterans. The company has the full-chain new drug research and development capabilities covering early research and development, translational medicine, and clinical development, and has received strong support from multiple leading investors. Based on its multiple R&D platforms, LaNova Medicines has created an innovative biologics drug pipeline with "first-in-class" and "best-in-class" potential and has successfully advanced multiple innovative drug products into clinical stage in China, U.S. and Australia.

About CBMG: Cellular Biomedicine Group (CBMG) is an innovative biopharmaceutical company a biopharmaceutical firm engaged in the development of immunotherapies for cancer and stem cell therapies for degenerative diseases. CBMG 's GMP facilities in China and the United States have nearly 20 independent cell production lines, the design and management of which are in compliance with current GMP standards. Its GMP facility in Zhangjiang, Shanghai includes a Joint Cell Therapy Laboratory with GE Healthcare and a Joint Cell Therapy Technology Innovation and Application Center with Thermo Fisher Scientific. Through a series of advanced strategic cooperation in the field of cell therapy industry, CBMG has been at the forefront of the industry in the development of cell therapy manufacturing processes and digital and automated systems. Through independent research and development, CBMG's own product pipeline has achieved excellent clinical results, including dual-target CAR-T targeting CD19\CD20 for the treatment of hematological tumors, and CAR-T targeting BCMA for entity TCR-T and TIL product candidates for cancer treatment. In terms of stem cell products, the China NMPA (formerly CFDA) has approved the CBMG's IND application for a Phase II trial for AlloJoin®, its "Off-the-Shelf" allogenic haMPC therapy for the treatment of Knee Osteoarthritis (KOA) and has accepted the Company's IND application for a Phase II trial for ReJoin® autologous haMPC therapy for the treatment of KOA. In addition, the company formally signed a strategic cooperation agreement with Novartis Pharmaceuticals in October 2018, becoming its only domestic production supplier of Kymriah®, the world's first approved CAR-T drug. In 2020, it reached a strategic partnership with another multinational pharmaceutical company to further collaborate on global innovation.

For more information, please visit www.cellbiomedgroup.com .