HONG KONG,
CHINA -�Media OutReach�-�3 June 2019 - Great Bay Bio, a
leading biotechnology company dedicated to innovative drug CMC (Chemistry
Manufacturing and Controls) and pre-clinical development of big data service
platform, announced its formal establishment in Hong Kong today and the Chairman,
Mr. Kingsley Leung is pleased to appoint Mr. Michael Chan as CEO and co-founder
of the company on behalf of the board. Dr. Michael Chan has officially assumed
his duties on May 20. He will formulate a sustainable development strategy for Great
Bay Bio and be responsible for the overall operation and management of the
enterprise. The Headquarter will be based in
Hong Kong and expand its business domestically and internationally. The company
currently focuses on two major business lines-CMC platform technology services
and product development, including 2 subsidiaries as Dongguan Taili Biotech Co.,
Ltd. and Guangdong Taili Biomedical Technology Co., Ltd. Before its establishment,
Great Bay Bio has won the favor of many financial investment institutions and
strategic investment institutions.

Development Target and Unique Development Model of
Great Bay Bio

1)
Focusing on the Fusion and Development of Greater Bay Area to Help
Pharmaceutical Innovation

In 2018, the Greater
Bay Area of Guangdong, Hong Kong and Macao became a national strategy to
encourage all kinds of scientific and technological innovation resources in this
Area to cooperate and complement each other, and enterprises to develop
together. After carefully studying the innovative thinking of the development
strategy of this Area, Great Bay Bio began to gather the leading wisdom of
experts and scholars in the field of life science and biotechnology and elites
from all walks of life sciences, expecting to help China's biotechnology
R&D capability upgrade faster and better, and to support the development of
biomedical industry in the region towards scale, agglomeration and
internationalization.

Based on the
principle of mutual benefit and win-win, Great Bay Bio closely adheres to the
existing superior resources and development goals, providing high-quality CMC
one-stop service for domestic and foreign pharmaceutical partners. The company
has a full set of leading biomedical development equipment and facilities, and
has successful experience in developing E. coli, yeast, CHO cells and other
products. It can provide CMC services and complete all the work from project
screening, clinical sample production and product testing, such as drug
discovery, sequence screening, plasmid construction, cell strain (bacterial
strain) construction, cell culture (fermentation), purification process
development, preparation process development and quality research. Open service
mode the company has been exploring is called "equity-for-service model", which
can provide new modes such as financial support plus technology equity and service
support plus share or intellectual property equity, providing a variety of
cooperation possibilities, insisting on the balanced development of
specialization and diversity.

2)
Constructing the talent echelon and exploring the new service package of
CMC/CDMO

The importance
of CMC research in the stage of new drug discovery and preclinical research is
self-evident. Driven by the overall situation of the pharmaceutical industry
and national policies, the domestic market of customized development and
production of biopharmaceuticals (CDMO) is also rising rapidly. From 2016 to
2020, the CDMO market of biological drugs in China will grow from 2 billion
yuan to 10 billion yuan, and the compound growth rate will reach 35%. The
CMC/CDMO customized service market in the Greater Bay Area of Guangdong, Hong
Kong and Macau has considerable potential, and international talents are
gathered here. These advantages are the best business starting point for us.

Great Bay Bio's
Service Platform of CMC/CDMO Technology and Pre-clinical Research and Big Data Development
has a technical team of over 40 scientists and investigators led by PhDs/senior
engineers. The team will offer an integrated service package with variability
and customization.

Among the subdivisions
of the Service Platform in the field of biopharmaceutical innovation
technology, the most noteworthy is the establishment of Fc Platform. The goal
of this platform is to use Fc fragments of IgG to connect with unstable or
short half-life polypeptides, cytokines, hormones or enzymes to form fusion
proteins, prolong their half-life in vivo and reduce the frequency of
administration. The company uses Fc fragments of IgG2 subtype (wild type) or
IgG4 subtype (S228P mutation) to fuse with different polypeptides, and has
incubated one project using this technology, rhEPO-Fc which is now in phase I
clinical research. The company is also looking to begin development of
additional first-in-class and best-in-class products with prospective
technology partners. The most important feature of this platform is to use CMC technology
to carry out rapid pre-clinical research, such as molecular structure stability
study, in vitro biological activity study, animal pharmacodynamics sample
preparation, process feasibility study, etc., which can quickly judge the possibility
of drug formation in the research projects.

3)
Deepening the Service System and Constructing One-stop New Drug Service

Dr. Michael Chan,
CEO, said: Based on the international perspective, the Science and Technology
Innovation Park in Greater Bay Area of Guangdong, Hong Kong and Macao has made
a long-term layout for the R&D and innovation capabilities of the New
Economic Zone. Since the development and Preparatory Period of Great Bay Bio
and its formation of the business concept in 2018, we have clearly realized
that innovation in this Area is no longer confined to providing basic
facilities and sites for new drug research and development, and that greater
value is to enable more industries. Internal experts, institutions and
cross-border integrators jointly promote the development of pharmaceutical
enterprises, which has entered a new stage of development, and the orientation
and implementation of industrial integration will continue to deepen. The
mission of Great Bay Bio is to speed up the development and production of
biological drugs, which is in line with our business operation now and in the
future. The meaning lies in that faster development of products will
significantly reduce R&D cost for our partners, which will ultimately
benefit patients with cheaper innovative drugs. Great Bay Bio Biological's
business model can provide precise and comprehensive customized one-stop new
drug service, which will occupy an important position in the biopharmaceutical
industry chain. At the same time, it will further expand the service space and
capacity of biopharmaceutical and strive to become the best partner in the
pharmaceutical industry.

Kingsley Leung (R) and Michael Chan (L)

Introduction
of CEO and Co-Founder

Dr. Michael Chan
graduated from the Doctor of Biochemistry, University of Georgia, USA. He has
more than 30 years of rich experience in biomedical research and development,
team building and operation management, In particular, Michael has ever been a distinguished
leader for 5
projects of Biosimilar and innovative macromolecule's IND Application during
the same period within 3 three years. He has successively held senior
management positions, chief operating officer and President Positions in many
famous pharmaceutical companies in the United States and Shanghai Hengrui. Dr.
Chan has published more than 18 articles and patents in international SCI
journals.

Introduction
of Chairman of the Board and Co-Founder

Mr. Kingsley
Leung holds a BSc in Biochemistry from Imperial College London and an MSc in
Pharmacology from the University of Oxford. In addition, he is currently a
Chartered Financial Analyst and a member of The Hong Kong Society of Financial
Analysts and holds a Professional Diploma in Corporate Governance &
Directorship from the Hong Kong Institute of Directors. In 2018, Mr. Leung
successfully completed the Insead EMBA project held by Tsinghua University. Prior
to the founding of the Great Bay Bio, Mr. Leung is the chairman of Uni-Bio
Science Group, a listed Biopharmaceutical company?HK0690?in HKEx main board
and has broad experience in sourcing, evaluating and executing new growth
opportunities, supporting the execution and alliance management of multiple
deals, including the in-licensing of next generation oncology, inflammation and
respiratory drugs from MNCs. Mr. Leung also has extensive experience in the
finance industry where he worked in a number of budge bracket investment banks
and a family office.

About Great Bay Bio

Headquartered
in Hong Kong, the CMC/CDMO platform of Great Bay Bio was originally established
in 2002. Dongguan Taili Biotech Co., Ltd. and Guangdong Taili Biomedical
Technology Co., Ltd. were founded successively. The R&D equipment invested
more than 54 million yuan and the total R&D cost exceeded 300 million yuan.
The CMC/CDMO platform has independent and integrated technology platform for
drug R&D and large-scale preparation. The company has a strong existing
track record of developing CMC packages for products entering NDA stage, some
of which are national class I projects of innovative biological New drugs.

The platform
has been recognized and certificated as "Patent Fostering
Enterprise", "Patent Pilot Enterprise", "National High-tech
Enterprise", "Dongguan New R&D Institution", "Guangdong
Top Ten Foreign-funded R&D Center" and "Guangdong Genetically
Pharmaceutical Engineering Research Center". Since 2006, it has undertaken
a number of government projects and obtained crucial breakthroughs in key areas
of Guangdong and Hong Kong. Several provincial and national projects, such as
"National Major New Drug Innovation", have been funded by government
support of more than 20 million yuan.

The platform
has over 3100 square meters of research and Development Experimental sites, and
has a whole set of advanced biopharmaceutical research and development hardware
and facilities. The key equipments are labeled by Sartorius, Bio-Rad, GE
Healthcare, Waters and other world-class brands. The pilot workshop is designed
strictly in accordance with GMP requirements. The overall purification level of
the plant is C-level and partial A-level.

For more
information, you can visit Great Bay Bio's official website: www.greatbay-bio.com