BEIJING--(BUSINESS WIRE)--InnoCare Pharma (HKEX: 09969; SSE: 688428), a leading biopharmaceutical company focusing on the treatment of cancer and autoimmune diseases, announced today that the first subject has been dosed in clinical trial of the Company�s novel targeted protein degrader ICP-490 in China.

ICP-490 is developed from InnoCare�s molecular glue platform for the treatment of multiple myeloma (MM) and non-Hodgkin's lymphoma (NHL). It can overcome acquired resistance against earlier-generation of CRBN modulators. Synergizing and enhancing efficacy of monoclonal antibodies (mAbs), ICP-490 provides strong rationale of synergistic combinations in the clinic, and demonstrates immense potential in hematology field.

ICP-490 is expected to demonstrate anti-tumor effects in various MM and diffuse large B cell lymphoma (DLBCL). In addition, by enhancing its ADCC activity, ICP-490 can synergize with InnoCare�s drug pipelines, such as tafasitamab, which provides scientific rationales for combinatory treatment in the clinic.

Dr. Jasmine Cui, the Co-founder, Chairwoman and CEO of InnoCare said, �ICP-490 is a highly potent next generation CRBN Modulator. Developed for the treatment of multi-indications, it has the potential to become a blockbuster in our blood tumor pipeline. We will accelerate its clinical development and explore single or combined therapies, expecting to benefit the blood tumor patients early.�

MM accounts for about 10 percent of blood tumors¹. NHL is the most common hematological malignancy in the world², ranking among the top 10 common malignant tumors in China.

About InnoCare

InnoCare is a commercial stage biopharmaceutical company committed to discovering, developing, and commercializing first-in-class and/or best-in-class drugs for the treatment of cancer and autoimmune diseases with unmet medical needs in China and worldwide. InnoCare has branches in Beijing, Nanjing, Shanghai, Guangzhou, Hong Kong, and United States.

InnoCare Forward-looking Statements

This report contains the disclosure of some forward-looking statements. Except for statements of facts, all other statements can be regarded as forward-looking statements, that is, about our or our management's intentions, plans, beliefs, or expectations that will or may occur in the future. Such statements are assumptions and estimates made by our management based on its experience and knowledge of historical trends, current conditions, expected future development and other related factors. This forward-looking statement does not guarantee future performance, and actual results, development and business decisions may not match the expectations of the forward-looking statement. Our forward-looking statements are also subject to a large number of risks and uncertainties, which may affect our short-term and long-term performance.

¹ Yongchao Liang et al., 2021

² Thakurta et al., 2021

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