SHANGHAI & SUZHOU, China & GERMANTOWN, Md.--(BUSINESS WIRE)--Elpiscience Biopharmaceuticals, Inc. (�Elpiscience�), a global clinical-stage biopharmaceutical company dedicated to discovering and developing next-generation cancer immunotherapies, today announced that the first patient has been dosed in a U.S. multi-center, Phase I clinical trial, evaluating the safety, tolerability, pharmacokinetics, pharmacodynamics, and preliminary clinical activity of ES002, the company�s proprietary anti-CD39 monoclonal antibody (mAb), that is being developed for the treatment of advanced solid tumors (NCT05075564). Elpiscience received U.S. Food and Drug Administration (FDA) IND clearance for ES002 in September 2021.

�We are very pleased to see ES002 enter clinical trial testing in the United States,� said Steve Chin, CMO of Elpiscience. �This is an important milestone for Elpiscience to develop innovative and differentiated cancer immunotherapies. We look forward to announcing additional clinical milestones throughout 2022 as Elpiscience expands its pipeline with a steadfast commitment to advance One World Class Molecule into the Clinic Each Year.�

ES002 has demonstrated highly potent single-agent anti-tumor activity showing significant reduction in tumor size and weight in in-vivo pharmacology studies.

About ES002:

ES002 is an anti-CD39 mAb designed to promote anti-tumor immunity. CD39 is a key enzyme regulating the production of adenosine, a critical immune suppressor. By blocking CD39 function, ES002 also stabilizes pro-inflammatory extracellular ATP (eATP) and restores anti-tumor immunity within the tumor microenvironment. ES002 demonstrated highly potent single-agent anti-tumor activity in in-vivo pharmacology studies.

About Elpiscience:

Elpiscience is a clinical stage biopharmaceutical company focused on innovating and developing next-generation immunotherapy to benefit cancer patients worldwide. The company has a robust pipeline of globally innovative molecules, covering wide range of targets in immuno-oncology. It has four molecules in clinical trials (ES002, ES101, ES102, and ES104), and endeavors to clinically advance at least one innovative molecule a year. Founded and managed by a team of biopharma industry leaders, Elpiscience is backed by renowned investors including, Lilly Asia Ventures, Hillhouse Capital, Hyfinity Investments, Greater Bay Area Homeland Development Fund, CDH, DYEE Capital and Cormorant Asset Management.

Learn more at elpiscience.com

Contacts

Investor inquiries:

Elpiscience, Inc.

Chief Financial Officer

John Craighead, Ph.D.

[email protected]�

LifeSci Advisors, LLC

John Fraunces

[email protected]

Media inquiries:

Candy Zhao

[email protected]�