LaNova Medicines and Turning Point Therapeutics Enter Into a Licensing Agreement for LM-302

SHANGHAI, May 5, 2022 – LaNova Medicines, Ltd (“LaNova”) announced today that it has entered into an exclusive license agreement with Turning Point Therapeutics, Inc. (NASDAQ: TPTX), for the development and commercialization of LM-302, a novel antibody drug conjugate (ADC) targeting Claudin18.2.

Under the terms of the licensing agreement, LaNova grants Turning Point the exclusive rights to develop and commercialize LM-302 in the US and rest of the world excluding Greater China and South Korea. LaNova will receive an upfront payment of 25 million USD with subsequent development and commercial milestones payment of up to 1 billion USD, and tiered royalties ranging from mid-single digit to mid-teens. As part of the agreement, both parties agree to potentially broaden the partnership by collaborating on up to three additional ADC programs.

“LaNova Medicines is focused on discovery and development of innovative medicines in oncology. We are very pleased to partner with Turning Point for LM-302, an innovative drug molecule with the potential as a novel treatment for gastric and pancreatic cancers. This partnership is an example of our discovery and development capabilities and our ambition for global innovation and patients”, said Dr. Crystal Qin, Founder, Chairman and CEO of LaNova Medicines.

“We are excited to announce our first in-license as a company and strategically expand our clinical stage portfolio, specifically within GI tumors. Claudin18.2 is continuing to emerge as an important target”said Athena Countouriotis, M.D., President and Chief Executive Officer of Turning Point Therapeutics. “We chose LM-302 based on it potentially being first in class ADC to target Claudin18.2 and its preclinical data which show the potential to target tumors with low and high Claudin18.2 expression levels, which we believe could be an important differentiator versus some other investigational therapies.”

About LaNova Medicines, Ltd

LaNova Medicines is a privately-held China-based global biotech company incorporated in 2019. The company specializes in novel biologic drug discovery in the fields of immuno-oncology and tumor microenvironment, and is committed to deliver truly differentiated therapies with first-in-class or best-in-class potential to address high unmet medical needs. The company’s discovery expertise lies in generation of therapeutic antibodies against GPCR and multi-transmembrane protein targets. LaNova has successfully advanced several highly innovative drug candidates including ADCs, monoclonal antibodies, and small molecule into globally leading clinical stages. The current pipeline consists of more than 10 drug candidates with global IP and commercial rights fully owned by LaNova, all of which have first-in-class or best-in-class potentials.

About Turning Point Therapeutics Inc.

Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of investigational drugs designed to address key limitations of existing cancer therapies. In addition to LM-302（TPX-4589）, the company’s pipeline consists of several next-generation kinase inhibitors including repotrectinib, targeting ROS1 and TRK; elzovantinib, targeting MET, CSF1R, and SRC; TPX-0046, targeting RET; and TPX-0131, a next-generation ALK inhibitor; all of which are currently being studied in Phase 1/2 studies in various solid tumors. The company is driven to develop therapies that mark a turning point for patients in their cancer treatment. For more information, visit www.tptherapeutics.com.