Kintor Pharmaceutical Limited A Leading Novel Drugs Developer Focusing on Oncology and Androgen Receptor (AR) Related Diseases

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2 Table of Contents

01 Company Overview

02 Investment Highlights

03 Our Strategies

04 Financial Overview

05 Appendix – Introduction to Prostate Cancer and the AR Pathway

3 Section 1 Company Overview Kintor at a Glance

2009 Oncology & AR-Focused1 6+2 Pipeline Established as Suzhou Kintor by Focused on oncology AR-related diseases Small molecule & biological drugs: 6 potential Dr. Tong and Dr. Guo with substantial unmet medical needs first/best-in-class in clinical, 2 in pre-clinical

Indications Geographic Expansion Fastest growing cancers (prostate, breast & Potentially leveraging our global relationships liver) globally, and other AR-related to license-out select products for rapid global indications like AGA2 and acne vulgaris expansion in the future

Proxalutamide Pyrilutamide ALK-1 antibody Our lead product, indications in COVID-19, Ph II patients enrolment completed in Dec 2020 , A new anti-angiogenesis inhibitor, positive prostate cancer, and breast cancer. NDA filing indications in androgenetic alopecia and acne data of HCC phase II trial in Taiwan, to in 2021 vulgaris commence trials in China and US

Note: 1 AR refers to androgen receptor 2. AGA:androgenetic alopecia 5 Our Mission

Focus on developing potential “best-in-class” and “first-in-class” novel drugs and commercialisation platform…

…with the goal of becoming a leading innovator of drugs for:

Cancer: Prostate cancer, breast cancer and liver cancer contributed to c.23% of all new cancer cases in 2018 New cases in 2018 ('000)) 2,088.8 1,276.1 841.1

Lung Breast Colorectal Skin Prostate Stomach Liver Lymphoma Esophagus Cervis uteri Other AR-related diseases: including androgenetic alopecia and acne vulgaris

# of Male Patients aged from 30-70 # of Patients Aged 10-25 with Our mission with Androgenetic Alopecia (million) Acne Vulgaris (million)

To become a global leader in the R&D and 97.8 122.5 96.3 121.3 92.8 commercialization of innovative therapies, 88.4 118.9 focusing on indications with substantial unmet medical needs, in particular in the AR- 2018 2023E 2028E related field 2014 2018 2023E 2028E # of Male Patients aged from 30-70 # of Patients Aged 10-25 with with Androgenetic Alopecia (million) Acne Vulgaris (million)

33.9 33.7 32.6 32.5 30.4 31.1 31.3

2014 2018 2023E 2028E 2018 2023E 2028E

Source: Frost & Sullivan

6 Financing History

Valuation: USD960 mn IPO: Valuation: USD530 mn ~USD240 mn Series D: USD44 mn Cornerstone: Zhuhai Gree Financial FTZ Fund Investment Valuation: USD292 mn Management Co. Ltd Series C: ~ USD41 mn Zhuhai Huajin Cornerstone: Foresight Orient Global Green Pine Superior Choice SPC CCBI Tech Venture Valuation: USD106 mn Highlight Capital Series B: Cornerstone: Yicheng Hongtai ~ USD10 mn Valuation: USD22 mn Dongzheng Tengcong Highlight Medical Valuation: USD7 mn Series A: ~ USD3 mn Highlight Capital Guangzhou Chengfa Angel Series: Beixin Fund ~ USD2 mn BioVenture Other Legend Star Investment Joinne Ming Yuan CCB Investment Highlight Capital Origin VC 2010/2012 2014 2015 2018 2019 2020

Note: refer to post-money valuation; translated in US$1.00 to RMB6.9915 Abovementioned investors may invest through multiple entities 7 Corporate Milestones

• Commenced Ph. I clinical trials for Pyrilutamide for androgenetic alopecia in the US • Received IND approval for Detorsertib from the NMPA

• Received approval from the NMPA to commence Ph. I to Ph. 2020 III clinical trials for Proxalutamide for breast cancer in China • Received funding from the National Science and Technology Major Project of the Thirteenth Five-Year Plan for Proxalutamide on prostate cancer and breast cancer 2019

• Received IND approval for Pyrilutamide • Received approval from the NMPA to conduct Ph. I to Ph. for acne vulgaris in China III clinical trials for Proxalutamide for mCRPC in China 2018 • Completed phase Ib clinical trial against • Received approval from the U.S. FDA to commence Ph. I AGA in US and Ph. II clinical trials for Proxalutamide for mCRPC in the U.S. • Listed on May 22,2020 (Stock Code: 9939.HK), and raised up to USD 240 million. 2017 • Received grants from the • Obtained IND approval for GT1708F to National Science and Technology commence clinical trials in China and US Major Project of the Twelfth Five- Year Plan for Proxalutamide on 2016 • Completed Ph. II and commenced Ph. III prostate cancer monotherapy and combination therapy clinical trials for Proxalutamide for 2015 mCRPC in China • Commenced Ph. I and Ph. • Received IND approval for Pyrilutamide 2013 II clinical trials for for androgenetic alopecia in China and 2011 Proxalutamide for mCRPC the U.S. 2009 in the U.S. • Commenced Ph. I clinical trials for • Submitted the clinical trial • Completed Ph. I clinical Pyrilutamide for androgenetic alopecia in • Kintor was established in application of Proxalutamide trials for Proxalutamide for China Suzhou, China to the NMPA mCRPC in China • Received funding from the National Science and Technology Major Project of the Thirteenth Five-Year Plan for ALK-1 antibody

8 Products Pipeline

Our pipeline include a risk-balanced and diversified portfolio of products that strategically targets major cancer types and other AR-related indications with substantial market potential

Target / Country/ Drug Candidate Indication Pre-Clinical IND Filing Phase I Phase II Phase III NDA Mechanism Region (Filed)|(Accepted) mCRPC China Expected to submit NDA in 2021 Combination therapy with Abiraterone for China Expected to complete patients enrolment in 2021 mCRPC mCRPC US Expected to complete phase II in 1H 2021 Proxalutamide Second generation Metastatic breast cancer* China (GT0918) AR antagonist Combination therapy with Exemestane, Letrozole China and Fulvestrant for metastatic breast cancer* COVID-19(male)^ Brazil Final data released in Jan 2021

COVID-19(female)^ Brazil Preliminary data released in Jan 2021

Androgenetic alopecia* China Completed patients enrolment in Dec 2020

Pyrilutamide AR antagonist Androgenetic alopecia* US (KX-826) (for external use) Acne vulgaris* China

Stage Products Stage Acne vulgaris* US Combination therapy with a PD-1 for metastatic Taiwan Interim data was released at ASCO GI in Jan 2021

HCC* Clinical nd ALK-1 Angiogenesis Liver cancer* (2 - line combination therapy) US MRCT (GT90001) inhibitor Liver cancer* (1st-line combination therapy) China Combination therapy with KN046 (PD-L1/CTLA- MRCT 4) for HCC Detorsertib mTOR kinase Metastatic solid tumours* China (GT0486) inhibitor

Hedgehog/ Leukaemia China GT1708F SMO inhibitor BCC US AR degrader GT20029 AGA and acne vulgaris China (PROTAC) PD-L1 / TGF-β dual GT90008 Multiple types of solid tumours targeting antibody Prepare for IND Other AR degraders

Clinical Multiple indications

- (PROTAC)

Pre c-Myc inhibitor Blood cancer

mCRPC = metastatic castration-resistant prostate cancer, TNBC = triple negative breast cancer, MRCT = Multi Regional Clinical Trial, HCC = hepatocellular carcinoma, BCC = basal-cell carcinoma, PROTAC = proteolysis targeting chimera * Represents a potential first-in-class drug candidate for the relevant indication ^Partially sponsored by Kintor 9 Two near-term products developed based on industry-leading AR platform

Proxalutamide Pyrilutamide (Oral administration) (Topical administration)

Potential best-in-class for mCRPC and Paradigm-shifting new drug for global first-in-class for mBC globally AGA and acne vagaries market o Two Ph III clinical trials in China for mCRPC, NDA filing expected in 2021 o Ph II clinical trials in China for androgenetic alopecia completed patients o Ph II clinical trials in US for mCRPC, patients enrolment completed enrolment, expected to finalise CSR in 2021 o Ph Ic clinical trials in China as combo-therapy for AR+ mBC o Ph Ib clinical trials in US for androgenetic alopecia completed, data analysis, o IND approval in US for TNBC cleaning and summarisation are underway o IND approval in China for acne vulgaris, patients enrolment expected in 1Q 2021 Clear efficacy back by clinical results to date, and potentially effective on Significant limitations and side effects in existing two treatments for AGA patients who failed Enzalutamide and Abiraterone Minoxidil and Finasteride Favorable safety profile

• No incidence of triggering seizure among over 1000 users class

- Unique dual-acting mechanism Clear efficacy with neglectable side effect supported by significantly in

- • Not only effectively inhibits ARs, but also exhibits the biological effect of improved safety and tolerability

reducing AR expression

unmet need Best Suitable for combination therapies New for drug No novel treatment approved in the last 22 years for AGA and 40 year for • Higher AR antagonist binding affinity acne vulgaris • No induction effect on enzyme CYP1A2, CYP2B6 and CYP3A4

Proxalutamide & Market size • c. 100K mCRPC patients1 • c. 2.0m total BC patients1 multiple combo therapies • c. 93.6m of male aged from of Pyrilutamide • c. US$1bn market size for • US$6.4bn market size for 30-70 androgenetic alopecia prostate cancer drug1 breast cancer drug1 patients1 • 25.2% CAGR 2018-2023E • 11.6% CAGR 2018-2023E

• c. 350K mCRPC patients1 • c. 0.9m TNBC patients1 Enzalutamide • c. 31.5m of male aged from US market size of drugs approved

• US$6.2bn market size for • US$12bn market size for Market Potential Market Market Potential Market for AGA4 prostate cancer drug1 breast cancer drug1 Valuation: 30-70 androgenetic alopecia US$14bn2 1 US$1.4bn • 7.8% CAGR 2018-2023E • 8.5% CAGR 2018-2023E patients

Source: Company Prospectus, Frost & Sullivan analysis,, US FDA Note: 1 Frost & Sullivan industry data 2019E 3 Excluding hair transplant treatment 2 Medivation acquired by Pfizer for US$14bn in Aug 2016 4 Market size in 2028 10 Our Drug Candidates

. Received the exclusive global license from Pfizer to develop a novel antibody drug for cancers, and is expected to be the world’s first fully human therapeutic monoclonal antibody targeting ALK-1(Activin receptor-like kinase-1) ALK-1 antibody . Expect to initiate Ph. II/III registrational trials for liver cancer in China and US in 2021 . Combo therapy with PD-1 antibody: Ph. II clinical trial is ongoing in Taiwan . Combo therapy with PD-L1/CTLA-4 bispecific antibody in HCC and other indications globally

. Detorsertib is currently undergoing phase I clinical trials in China for metastatic solid tumors Detorsertib . An inhibitor of the PI3K/mTOR signalling pathway and a second generation mTOR inhibitor . IND approval obtained from the NMPA in China in August 2019 . No mTORC1 / mTORC2 dual inhibitor has been approved for marketing globally yet

. Obtained IND approval to commence clinical trials in China and US Hedgehog/ . The Hedgehog signal pathway controls the development of embryos and is vital to the development and differentiation of cells post embryonic development and embryogenesis SMO Inhibitor . Early studies have demonstrated that its anti-tumor activity is higher than Vismodegib, currently marketed globally

. AR degrader is considered to be a natural progression from AR inhibitors such as Proxalutamide AR-Degrader . AR degraders have the potential to become a new generation treatment for prostate cancer . IND application was accepted by NMPA in Jan 2021

. A PD-L1 and TGF-β dual-targeting antibody, with a high activity in inhibiting both PD-L1 and TGF-β. PD-L1 / TGF-β Genetic engineering modification could reduce its degradation or fragmentation in CHO cell expression proteins, which makes it easier to be commercially produced and becomes a potential dual targeting antibody best-in-class drug

c-Myc inhibitor . c-Myc promotes cell proliferation and division, and is involved in the development and progression of tumor

11 Achievements and Near-Term Outlook in R&D

Greater China 2020 • Proxalutamide o mCRPC 2021 - Completed phase III patients enrolment in • Proxalutamide August o mCRPC - Complete Phase II in 1H • Pyrilutamide - Publish result of Ph. II at ASCO o Acne Vulgaris GU in February - Received IND approval in September o AGA - Complete patients enrolment in Dec • ALK-1 o HCC and other indications - Conducted the combination therapy with PD-L1 / CTLA-4 bispecific of Alphamab in July, and commence global trials The U.S. 2021 successively • Proxalutamide • PD-L1 / TGF-β dual targeting antibody 2020 o mCRPC o Multiple types of solid tumours - Apply for NDA • Proxalutamide - Obtained an exclusive right from Gensun in - Publish result of Ph. II at ASCO GU in o mCRPC August to promote the clinical development February - Completed phase II patients Brazil and commercialization in Greater China, and enrolment in July • Pyrilutamide also obtained the right of first refusal - Obtained preliminary data of 2020 outside Greater China Ph. II in 4Q o Acne Vulgaris • Proxalutamide - Commence patients enrolment in 1Q• GT1708F • Pyrilutamide o COVID-19 o Leukaemia o Androgenetic alopecia - Conducted clinical research • ALK-1 - Received IND approval in February - Completed phase Ib in August with Applied Biology in July, o HCC first patient enrolled on Aug - Released interim data of Taiwan Ph. • GT1708F 20, and completed 381 II trial at ASCO GI in January o BCC patients enrollment on Oct 25 • AR degrader - Received IND approval in - Published preliminary data in o AR-related diseases November Dec - IND was accepted in Jan

12 AR Signaling Regulates ACE2/TMPRSS2 Mediated SARS-CoV-2 Infection

SARS-CoV-2 entry into host cells requires two host cell surface proteins: ACE2 and TMPRSS2.

• The spike protein need to be primed by TMPRSS2 before it could interact with ACE2 to get the RNA of the virus entered into host cells.

• The expression of TMPRSS2 and ACE2 are positively regulated by the AR signaling.

• Targeting AR-ACE2/TMPRSS2 signal axis could originally inhibit the entry of the virus into host cells by transcriptionally down-regulating the expression of TMPRSS2 and ACE2, which has gradually been receiving growing attention as potential therapies for COVID-19.

13 AR Antagonist Proxalutamide as a Potential Therapeutic Agent for COVID-19

AR antagonists inhibit SARS-CoV-2 entry into host cells by inhibiting the function of AR and down-regulating the expression of ACE2 and TMPRSS2

14 COVID-19 and Androgen

Journals Articles Contents Notes

Blockage of AR signaling with AR antagonist Published in April 2020, and ranked top ten Proxalutamide (GT0918) reduced the expression of downloads in two topics (Mechanisms of Human ACE2 and TMPRSS2 in normal lung cells and cancer Disease and Anti-Infective Therapy) two weeks after Suppression of Androgen cells derived from prostate and lung cancer. publication Receptor (AR)- Proxalutamide (GT0918) also inhibited the expression of ACE2/TMPRSS2 Axis by AR SSRN inducible nitric oxide synthase (iNOS) and tumour Antagonists May Be necrosis factor-alpha (TNF α), the macrophage- Therapeutically Beneficial activation markers, in mouse macrophage cells. These for Male COVID-19 Patients results support the role of androgen-AR signalling in the disease progression and mortality in male patients with COVID-19

A retrospective study published in May 2020 SARS-CoV-2-infected men have a worse clinical outcome Androgen-deprivation than women, and cancer patients have an increased risk Annals therapies for prostate cancer of SARS-CoV-2 infection. Prostate cancer patients of and risk of infection by receiving androgen-deprivation therapies appear to Oncology SARS-CoV-2: a population- be partially protected from the infection. based study (N = 4532)

Androgens regulate the expression of ACE2, Published in Nov 2020 TMPRSS2, and androgen receptor (AR) in subsets of lung epithelial cells. Results in this study show that Targeting transcriptional targeting the transcriptional regulation of host entry regulation of SARS-CoV-2 PNAS factors TMPRSS2 and ACE2 is a viable treatment strategy entry factors ACE2 and to prevent SARS-CoV-2 infection. In particular, inhibitors TMPRSS2 of androgen receptor (AR) or bromodomain and extraterminal domain (BET) proteins are effective against SARS-CoV-2 infection.

Source: SSRN; Annals of Oncology; PNAS 15 COVID-19 Study of Proxalutamide

In July, Kintor and Applied Biology entered into a clinical trial research agreement to conduct research for Proxalutamide (GT0918) as a treatment for the novel coronavirus disease (COVID-19). Applied Biology is a biotechnology company committed to the development of breakthrough drugs and medical devices for the treatment of androgen and hair disorders.

ClinicalTrials.gov identifier: NCT04446429

Inclusion Criteria: Male (18-year or older) and female (post-menopause) patients with mild to moderate COVID-19

Arms and Interventions: Protocol  Male cohort with patients randomized in a 1:1 ratio in Experimental arm and control arm  Female cohort with with patients randomized in a 2:1 ratio in Experimental arm and control arm (Randomized, Double-blind, • Experimental arm: Proxalutamide + Standard Care Placebo-controlled) Control arm: Standard Care (Ivermectin + Azythromycin) Primary end point: The co-primary endpoints of the clinical trial are the percentage of subjects hospitalized with COVID-19 and the COVID-19 Ordinal Outcome Scale (a 8-point ordinal scale published by the World Health Organization, such as mechanical ventilation usage and death) in 30 days.  On Aug 20, 2020, the first male patient was enrolled  On Oct 25, 2020, completed initial target 254 male patients enrolment

Status  On Nov 30, 2020, launched enrolment of 168 female patients as suggested by Brazilian regulator  On Jan 7, 2021, published final data of male patients.  On Jan 10, 2021, published interim data of female patients. Expected to complete female patients enrolment in 1Q 2021

16 NCT04446429: Baseline Characteristics of Male Patients

All Proxalutamide Placebo Characteristics (N=262) (N=134) (N=128)

Age - yr 44.5±7.1 44.2±14.0 45.0±10.8 No. of coexisting conditions — no. /total no. (%)

None 158 (60) 74 (53) 84 (66)

One 49 (19) 29 (22) 20 (16)

Two or more 55 (21) 31 (23) 24 (19) Coexisting conditions — no./total no. (%)

Type 2 diabetes 21 (8) 11 (8) 10 (8)

Hypertension 55 (21) 33 (25) 22 (20)

COPD 1 (0.4) 1 (0.7) 0 (0)

Obesity 43 (16) 22 (16) 21 (16)

17 Results of Proxalutamide’s COVID-19 Trial in Outpatients

The final results of 262 male patients, with 134 patients in Proxalutamide arm and 128 patients in control arm.

Proxalutamide arm Control arm (n=134) (n=128) Cases Percentage Cases Percentage Hospitalization 0 0% 35 27.3% Admission to ICU 0 0% 18 14.1% Mechanical 0 0% 13 10.2% ventilation requirement

Death 0 0% 2 1.6%

The interim analysis of female patients as of Jan 7, 2021 was based on 60 patients in Proxalutamide arm and 35 patients in the control arm.

Proxalutamide arm Control arm (n=60) (n=35) Cases Percentage Cases Percentage Hospitalization 1 1.7% 6 17.1% Admission to ICU 0 0% 3 8.6% Mechanical 0 0% 2 5.7% ventilation requirement

Death 0 0% 1 2.9%

18 Significance of Proxalutamide’s COVID-19 Clinical Trial

Dr. Youzhi Tong Dr. Andy Goren Founder of Kintor President and CMO of Applied Chairman, CEO Biology, Authorized person for this protocol & investigator

“While research institutes and pharmaceutical companies “We are excited to partner with Kintor Pharma to study, are actively pursuing therapies to prevent or treat what we believe is, the first novel molecule that reduces coronavirus, it is critical to find a treatment that helps the expresions of both TMPRSS2 and ACE2, the two COVID-19 patients slow the progression. By doing so, molecules implicated in SARS-CoV-2 infectivity. Provided the human immune system may have sufficient time to our study demonstrates efficacy and safety, Proxalutamide generate antibodies to fight against the novel coronavirus. could potentially be used as a first line treatment for We believe this research study demonstrates the possible COVID-19 male patients at the early stage of infection.” therapeutic effect of Proxalutamide as an anti-androgen therapy to treat COVID-19. Moreover, it is a testament to our commitment to social responsibility as a biotech ------Dr. Andy Goren company.” ------Dr. Youzhi Tong

Note: Principal Investigator (PI) of the clinical trial is Flavio A. Cadegiani 19 Growing from Small Molecules to Biologics: Joint Development + License-In + Innovation

With Alphamab: Cooperated with outstanding domestic and With Gensun: develop the combination foreign companies in R&D and manufacturing Introduce dual-targeting therapy of ALK-1 monoclonal of biologics antibody for layout of biologics antibody in dual/triple-targeting

In July 2020, entered into a partnership In Aug 2020, obtained an exclusive right from agreement with Alphamab to jointly Gensun to promote the clinical development develop the combination therapy of ALK-1 and commercialization in Greater China, and monoclonal antibody GT90001 and PD-L1 / also obtained the right of first refusal outside CTLA-4 bispecific antibody KN046 in Greater China. hepatocellular carcinoma (HCC).

With MabPlex: With Biotheus: all-round cooperation in the expand R&D strategies of R&D and manufacturing of biological drugs biologics

In Sep 2020, entered into a strategic In Oct 2020, entered into a strategic cooperation agreement with MabPlex, and the cooperation agreement on biological drug CMC work for GT90008 (PD-L1/TGF-β BsAb) development with Biotheus. was officially initiated.

20 Make A Breakthrough in Biological Compounds and Speed up Combo Therapies for A Variety of Tumours

Candidates Mono/combo therapies Indications

Combo Combination therapy with PD-1 or PD-L1  HCC therapies antibodies with other  Multiple types of solid biological Combination therapy with PD-L1/TGF-β dual targeting antibodies tumours compounds ALK-1 Combination therapy with PD-L1/CTLA-4  HCC and multiple types bispecific antibodies of solid tumours

Combination therapy with other  Multiple types of solid monoclonal/bispecific antibodies tumours

Monotherapy  Multiple types of solid PD-L1/TGF-β tumours dual targeting Combination therapy with ALK-1  Multiple types of solid antibody tumours Combination therapy with other  Multiple types of solid monoclonal/bispecific antibodies tumours

Combo ALK-1 Combination therapy with Proxalutamide  mCRPC/mBC therapies -or- with small (AR antagonist) PD-L1/TGF-β molecules Combination therapy with Detorsertib  Multiple types of solid dual targeting (mTOR inhibitor) tumours antibody

21 GMP Facilities and Commercialization

MANUFACTURING AND R&D BASE STRATEGIC COOPERATION AGREEMENT

• GloriousMed and HM Healthcare In Aug, signed a strategic cooperation framework agreement with GloriousMed and HM Healthcare to build a precise cancer treatment platform for patients of prostate cancer, breast cancer and other tumors

• c. 20,000 m2 factory in Suzhou • JD Pharmacy • Put into operation at the end of Aug 2020 In June, signed a strategic cooperation framework agreement with • Received production permit in 23 Nov, and will obtain China GMP JD Pharmacy in the marketing and sales of Pyrilutamide certification, as well as FDA GMP and EU GMP subsequently • To meet the commercialization needs of Proxalutamide (50+ million tablets annual capacity) , and clinical needs of Pyrilutamide

• Sinopharm In March, signed the strategic cooperation agreement with Sinopharm in the market development of Pyrilutamide

22 Section 2 Investment Highlights Investment Highlights

Risk-balanced and diversified pipeline of drug candidates targeting major 01 cancer types and other AR-related indications with substantial market potential

Potential best-in-class AR antagonist for mCRPC, forming the backbone of 02 potential combination therapies for AR-related cancers

Leveraging our expertise in AR-related research to expand Proxalutamide’s 03 indications into other AR-related cancer types

Expanding our pipeline of drug candidates to create new market opportunities in 04 treating other AR-related indications and other cancer types

Integrated R&D platform coupled with an experienced team of scientists enabling us to maintain quality and efficiency over our entire drug development 05 process

Well-developed commercialisation plan enabling speed-to-market and near- 06 term sales conversion

24 Risk-balanced Pipeline of Potential First- and Best-In-Class 1 Products…

Best-in-Class First-in-Class

Seek incremental yet significant improvements to Innovative drugs that seek to substantially expand the existing treatment options addressable market for the target indications

5 clinical-stage candidates

Proxalutimide ALK-1 GT1708F Quality candidates Potential best-in-class Potential first-in-class for potential combo therapy drug based on the well- antibody to be used in Potential best-in-class researched AR combination with PD-1 Hedgehog signaling mechanism and proven for solid tumors pathway SMO inhibitor Pyrilutamide 10 ongoing clinical studies target Detorsertib Potential first-in-class drug based on AR Potential first-in-class Global clinical program mechanism target to mTORC1 and mTORC2 redefine androgenetic dual inhibitor in China and U.S. alopecia market Fully in-house developed novel compounds

Kintor has designed a two-pronged strategy for its Risk-balanced and Diversified product pipeline

Source: Company Prospectus, Frost & Sullivan analysis

25 …That Strategically Targets Indications With Large Potential 1 Markets

Prostate cancer

Androgenetic alopecia Global Prostate Cancer Drug Market Size (US$bn) 3.7% 4.8% 9.8% 17.6% 92.8+ million in China 31.1+ million in U.S. 26.4 17.9 Total male patients aging 30 to 70 in 2018* 11.8 7.0 4.7 0.3 0.6 1.8

2014 2018 2023E 2028E

Acne vulgaris

Global China 118.9+ million in China 31.3+ million in U.S. Breast cancer Total number of patients aging 10 to 25 in 2018 Global Breast Cancer Drug Market Size (US$bn)

19.3% 21.4% 23.8% 24.5%

*People with hair loss in China has 61.0 reached 250 million, and most of them 40.6 are androgenetic alopecia. The prevalence Solid tumors rate is 23.1% for men and 6% for women; 26.8 17.8 15.0 there are about 50-60 million men and 9.7 Targeting cancer types 30-35 million women suffer from 3.4 5.7 with unmet medical needs androgenetic alopecia in the US. 2014 2018 2023E 2028E Source: Company Prospectus, Frost & Sullivan analysis, National Health Commission of P.R.C, Cassiopea Press release 26 2 Proxalutamide: A Potential Best-in-Class Drug for mCRPC…

Evolution of AR antagonists Follow-up 2nd Gen AR Antagonist

2018 & 2019 1st Gen 2012 FDA Approval of Apalutamide Proxalutamide and Darolutamide 1995 FDA Approval of Enzalutamide

1989 *Severe side effects of 0.5%-2.2% seizure FDA Approval of Bicalutamide

FDA Approval of Flutamide

Higher in-vitro binding affinity (Ki) Improved molecular design • Proxalutamide binds to the AR ligand binding domain (LBD) binding pocket with an additional hydrophobic interaction with the AR helix 12, resulting in increased binding affinity to the AR LBD

Proxalutamide Enzalutamide Bicalutamide Apalutamide AZD3514 Ki 14nM 48nM 160nM N/A 2200nM Enzalutamide Apalutamide Dual-acting mechanism • Not only inhibits androgen from binding to AR, but also exhibits the biological effect of reducing AR expression Favorable safety profile • Zero incidence of triggering seizure among over 1000 users • Suitable for combination therapy. Zero induction effect on CYP enzyme (CYP1A2, CYP3A4, etc,) Proxalutamide • No drug-drug interaction (DDI) with other drugs taken by mCRPC patients (chronic diseases such as diabetes, hypertension, cholesterol, etc.) Source: Company Prospectus, Frost & Sullivan analysis; FDA Xtandi Label

27 …With the Potential to Become the Backbone of Future 2 Combination Therapies for AR-related Cancers

PARP EXEMESTANE OTHER INHIBITOR LETROZOLE CANDIDATES FULVESTRANT

Robust and Unique Clinical Profile In Combination with Current Treatment

• No induction on CYP family enzymes Undergoing phase III clinical trials in China for combo therapy for mCRPC 1st line treatment with Abiraterone • No reduction in drug exposure in vivo Undergoing Phase Ic clinical trials for mBC with Exemestane, Letrozole and Fulvestrant • Apalutamide and its metabolite (N-desmethyl apalutamide) are moderate to strong CYP3A4 and Expect to commence clinical trials in combo therapy CYP2C8 inducers with a PARP inhibitor • Enzalutamide is also a strong inducer of CYP3A4

No induction Best positioned to become the preferred backbone drug candidate CYP3A4 Leverage proprietary AR-related expertise to expand multiple indications in a single pipeline Proxalutamide is CYP2B6 CYP1A2 prioritized over the other in combination therapy

Source: Company Prospectus, Frost & Sullivan analysis

28 2 Proxalutamide – mCRPC

Overview of the mCRPC Market Competitive Landscape

# of mCRPC Patients in China # of mCRPC Patients in the US Treatment options are currently limited for mCRPC patients, with most ('000) ('000) drugs only slowing, rather than preventing the progression of the disease

14-18 18-23E 23E-28E 14-18 18-23E 23E-28E AR antagonist drug candidates for mCRPC globally CAGR (%) 32.6% 17.7% 12.6% CAGR (%) 2.2% 1.0% 1.0% Drug Company Status Milestone

China 355.5 374.2 309.6 338.4 332.3 Proxalutamide Jul 2018 / Kintor mCRPC 2nd line: Ph. III 184.0 (mono and combo therapy) Dec 2018 81.4 mCRPC 1st line: NDA 26.3 Enzalutamide Pfizer/Astellas Nov 2019 approved

2014 2018 2023E 2028E 2014 2018 2023E 2028E HC-1119 Hinova mCRPC 2nd line: Ph. III Mar 2019

Key Growth Drivers SHR-3680(Mono/Combo1) Hengrui mCRPC 2nd line: Ph. I/II 2 Feb 2016 Growth in Higher affordability of Continuous launch diagnosed patients of new drugs and Jun 2018 drugs inclusion of existing Apalutamide J&J mCRPC: Ph. I due to an ageing drugs into the NDRL in Improved treatment Oct 2019 population and China (i.e. Abiraterone), options (i.e. US improvement of PSA which is expected to boost Enzalutamide and Proxalutamide) into screening technology drug sales nd the market Proxalutamide Kintor mCRPC 2 line: Ph. II Apr 2019 Enzalutamide Pfizer/Astellas mCRPC 1st line: NDA app. Aug 2012 Sales of approved AR antagonists for the treatment of mCRPC Apalutamide (combo) Aragon/J&J mCRPC 1st line: Phase III Oct 2014 2019 full year 2020 1H Darolutamide Bayer/Orion mCRPC 1st line: Phase I/II Oct 2016

(in billion USD ) Global US Global US TRC253 Tracon/J&J mCRPC: Phase I/IIa Dec 2016

Enzalutamide 4.3 2.58 2.46 1.53 TAS3681 Taiho mCRPC 2nd line: Phase I Oct 2015

Abiraterone 2.8 0.81 1.38 0.38 ONC1-0013B Avionco mCRPC: Phase I Mar 2017

Source: Frost & Sullivan Report,financial report of Astellas/Pfizer/J&J Note: 1. SHR-3680 combo therapy with PARP suspended 29 2 Proxalutamide’s Phase II Clinical Trials in China

Protocol of Clinical Trials Safety Comparison with Enza and Abi

Proxaluta- COU-AA-3012 COU-AA- AFFIRM4 Cohorts: 108 patients with 3 dose groups: 100 mg(37), 200 mide （Abiraterone 3023（Abi （Enzaluta- mg(35), 300 mg(36) Ph. II1 post-chemo） prior- mide post- chemo） chemo） Inclusion Criteria: mCRPC patients who had failed standard ≥grade 3 25.9% 60.4% 47.6% 45.3% chemotherapy regimen containing Docetaxel or were unable to AE tolerate or unwilling to receive standard chemotherapy treatment Drug 13.0% 23.0% 22.5% / 100 mg 200 mg 300 mg Total related≥ N=37 N=35 N=36 N=108 grade 3 AE Post-Chemo 10 (27.0%) 13 (37.1%) 15 (41.7%) 38 (35.2%) SAE 15.7% 42.4% 32.8% 33.5% Docetaxel 8 (21.6%) 12 (34.3%) 12 (33.3%) 32 (29.6%) Drug 4.6% 11.1% 10.9% / Other Chemo 4 (10.8%) 6 (17.1%) 5 (13.9%) 15 (13.9%) related SAE Withdraw 5.6% 20.5% 10.1% 7.6% Principle Entity of Investigation: Shanghai Changhai Hospital Drug 2.8% 5.4% 5.4% / related withdraw Dosing Duration: Received oral Proxalutamide tablets until six Death 1.9% 13.3% 3.7% 2.9% treatment cycles(28 days per treatment cycle), or unable to tolerate Drug 0 1.0% 0.9% / related Death Primary Endpoint: maximum PSA decline rate Seizure 0 0 0 0.9%5

Source: EMA assessment report EMEA/H/C/002321/II/0004/G, EMAassessment report EMEA/H/C/002639 Note: 1. CDE Identifier: CTR20170177 2. Clinical Trials Identifier: NCT00638690 3. NCT00887198 4. NCT00974311 5. 0.9% in this assessment report, and 0.5% for Xtandi overall (labeling dated Dec 2019) 30 2 Proxalutamide’s Phase II Clinical Trials in China (cont’d)

Efficacy Comparison with Enza and Abi No PSA 6 Progression Dosing time（months) (as of Sep 2020) 100% Total Avg: 10.82m Drug Location PSA50 ORR/ Ph Safety SD4 100mg: 11.18m 80% 200mg: 12.02m China 41.9% ORR II ≥Grade 3 AEs, 25.9%, of 300mg: 9.35m Proxalutamide 15.8%; which 13% was drug related 60% SD 63.2% Japan1 28.3% ORR 4.5%; II ≥Grade 3 AEs, 40.4% 40% SD 40.9% Abiraterone 20% Gobal2 29% ORR 14% III Serious AEs, 46.14%

0% Japan3 43.6% - NA8 ≥Grade 3 AEs, 1%5 0.00 5.00 10.00 15.00 20.00 total 100mg 200mg 300mg (Mth) Enzalutamide Japan7 28.9% ORR 5.3%; II Serious AEs, 34.2% SD 42.1% rPFS of Enzalutamide study in Japan3

• A retrospective study in Japan has found that, rPFS of post-chemo mCRPC patients taking Enzalutamide was 4.4 mth (right lower panel) • For Enzalutamide Phase III clinical trial for patients with docetaxel- naïve in Asia, TTPP was 8.3 mth (TTPP was 5.55 mth and rPFS was 9.43 mth for China group) • For Proxalutamide Phase II clinical trial in China for mCRPC patients post chemo or chemo intolerant, the average dosing time (dosing duration) for 200mg cohort per day has been 12.02 mth as of Sep, 2020 (right upper panel) • 200mg corhort was chosen for Proxalutamide’s as a monotherapy of ongoing Phase III trial in China.

Note: 1. NCT01795703; 2. NCT00638690; 3. Retrospective study by Cancer Institute Hospital, Japan; 4. Based on RECIST; 5. No Seisure but a syncope. Xtandi seizure rate 0.5%; 6. Dosing duration reflects progression free survival time; 7. NCT01284920; 8. From paitens treated during 2014-2015 in Cancer Institute Hospital 31 2 Conclusion of Proxalutamide Phase II Clinical Trials in China

 Proxalutamide(41.9%) showed better PSA50 effect than Abiraterone global2 (29%) and Abiraterone Japan1(29%);

 As of September 2020, the PSA50 rate in 100 mg dose group of Proxalutamide was slightly lower (35.1%), the PSA50 rate of the 200 mg and 300 mg dose groups reached 45.5% and 45.7%, respectively, which was better than the results of enzalutamide in Japan 3 (43.6%);

 As of September 2020, the dosing duration (reflects progression free survival time) of Proxalutamide reached 10.82 m (100 mg group: 11.18 m; 200 mg group: 12.02 m; 300 mg group: 9.35 m). In addition, There were 10 patients in the donated period, which would further extend the average dosing duration;

 As of September 2020, the ratio of more than 15m and 18m dosing duration in the 200 mg cohort exceeded 31.4% and 20%, respectively, which was far better than Japan's Enzalutamide trial 3(20% for non-chemotherapy patients);

 The safety of Proxalutamide was much better than that of Abiraterone, and there was no seizure with Proxalutamide(the Seizure rate of enzalutamide is 0.5%4).

Note: 1. NCT01795703; 2. NCT00638690; 3.Retrospective study by Cancer Institute Hospital, Japan; 4. Xtandi label 32 Proxalutamide: Leveraging our AR Expertise to Expand into 3 Treating AR-relevant Cancer Types

Proxalutamide

Broad Clinical Program Demonstrates Promising Results

Ongoing Clinical Trials Trial Under Planning

Pre- Phase Phase Phase Indication IND NDA Clinical I II III Expected Timetable mBC (mono & combo Expected to commence Phase III clinical trials in 2021 therapy)

TNBC

Clinical Progress Well tolerated and no treatment-related DLT in MTD Completed Phase I/Ib trials in China and will commence Phase III trials for a combination therapy with Fulvestrant for the treatment Favorable PK profile showing fast absorption of mBC in China and for mono- and combo therapies for the treatment of TNBC in the US

Clinically proven therapeutic effect on advanced m AR+ TNBC Efficacy Avoid the risk of inducing epilepsy 5/10 patients in the phase 1b monotherapy trials were treated with more than 6 treatment cycles

Source: Company Prospectus, Frost & Sullivan analysis

33 3 Proxalutamide – Metastatic Breast Cancer

Overview of the Metastatic Breast Cancer Market Competitive Landscape

# of AR+ & ER+ Breast Cancer # of AR+ & ER+ Breast Cancer Breast cancer is a disease that can take on many different forms. There are Patients ('000) Patients ('000) currently 5 major types of breast cancer and 4 main treatment types

14-18 18-23E 23E-28E 14-18 18-23E 23E-28E Treated with TNBC Hormones Treated with CAGR (%) 20.4% 11.0% 7.7% CAGR (%) 5.9% 5.1% 4.4% cytotoxic agents TNBC • TNBC generally grows faster than 20% other breast cancers HR+, HER2- 4,299 Treated with • As TNBC lacks a clear drug target, 2,919 50% HER2+, HR- 3,469 15% anti-HER2 some patients experience poor 2,012 2,844 efficacy from chemotherapy and 2,140 HER2+, HR+ 1,328 relapses are more likely to occur 524 15% Treated with anti-HER2 • TNBC represents a major potential +/- Hormones market for AR antagonists 2014 2019E 2023E 2028E 2014 2019E 2023E 2028E AR Antagonists Currently Undergoing Clinical Trials for Metastatic Breast Cancer Key Growth Drivers Drug Indication Company Status Increasing patient pool, driven by deteriorating environmental conditions, unhealthy lifestyles and high levels of stress from women China Proxalutamide AR+ breast cancer Kintor Phase I Rising demand for therapies as patients have increased access to breast cancer US screening, as detection and therapeutic technologies have improved Enzalutamide Advanced, AR+ TNBC Pfizer/Astellas Phase II Support from insurance schemes (i.e. the recent inclusion of new cancer HER2+, AR+ metastatic/ Enzalutamide/Trastuzumab Astellas Phase II drugs in the NDRL and removal of imported cancer drug tariffs in China advanced breast cancer Enzalutamide/Taxol Stage I-III AR+ TNBC Astellas Phase II AR Expression Rate From Different Breast Cancers Enzalutamide Early Stage AR+ TNBC Astellas Phase II AR (%) Treatment Regimen AR+,ER-, PR- metastatic Bicalutamide AstraZeneca Phase II Luminal A 91.0% Hormones breast cancer Luminal B 67.5% Hormones +/- anti-HER2 Palbociclib/ Bicalutamide AR+ metastatic breast cancer Pfizer Phase I/II HER2 58.7% Anti-HER2 Taselisib/Enzalutamide AR+ metastatic TNBC Genentech Phase I/II Basal-like 31.7% Cytotoxic agents AR+ and PTEN+ metastatic Novartis/ Alpelisib/Enzalutamide Phase I Unclassified 46.1% Cytotoxic agents breast cancer Astellas

Source: Frost & Sullivan Report

34 Pyrilutamide: Utilizing our Proprietary AR Capabilities to 4 Address Androgenic Alopecia and Acne Vulgaris

Underpenetrated market lack of novel treatment Robust Clinical Profile Target to Redefine the Market

Androgenetic alopecia is a common form of scalp hair loss that affects Pyrilutamide is an AR antagonist developed as a topical drug for the both men and women treatment of androgenic alopecia and acne vulgaris

Finasteride Minoxidil Phase I Clinical Trials for AGA in China and U.S. Approved for androgenetic Approved for androgenetic alopecia by the US FDA in alopecia in 1988 and as an OTC Administered locally with low systematic drug exposure 1997 drug in 1996 by the US FDA Significantly improved safety and tolerability Only two products* available in the market for androgenic alopecia, No adverse event of sexual dysfunctions and no novel treatment approved in the last 22 years Trial Under Planning Significant limitations and side effects in current treatments Completed patients enrolment for Phase II clinical trials in 2020 in Finasteride Minoxidil China • Severe sexual adverse effects • Fragmented market after patent Phase Ib clinical trials in US for androgenetic alopecia completed, • Orally taken drug expiry in 1998 data analysis, cleaning and summarisation are underway • Only approved and found effective • No clear MoA for use in men Received IND approval for acne vulgaris in China, commence first patient enrolment in 1Q 2021 Acne vulgaris is a chronic inflammatory dermatosis notable for open Conduct MRCT phase III clinical trials in China and U.S. in 2021 or closed comedones and inflammatory lesions • Pyrilutamide is the only treatment for AGA in late-stage clinical development in Hormonal agents, topical therapies, 150+ million China systemic antibiotics and isotretinoin Total patients globally • Compared to oral administration, topical application acts directly on the target are the prescribed treatment options aging 10 to 25 in 2018 treatment areas of the scalp with low systematic drug exposure • Pyrilutamide does not affect androgen levels in human bodies, and is not expected to cause impotence

* Dutasteride was approved for the treatment of AGA by South Korea and Japan in 2009 and 2015 separately, but was approved by FDA only for the Pyrilutamide treatment of benign prostatic hyperplasia (BPH) in 2001

Source: Company Prospectus, Frost & Sullivan analysis 35 4 China Androgenic Alopecia Market

Significant unmet need for effective and safe medical option to treat androgenic alopecia, as many patients choose clinically unproven OTC remedies and consumer products Androgenic alopecia – A growing concern globally Fragmented market suppressed by limited medical solution

Common form of scalp hair loss affecting both men and women • Propecia (Finasteride) Current treatment • Minoxidil Rx Drugs Rapidly growing concerns among all age group due to lifestyles and stress • Shampoo products containing Consumer Minoxidil products − Zhangguang 101, Bawang etc. • Anti-hair loss supplements, TCM

Patient population Market potential • A surgical procedure moves hair to a bald area Hair Transplant • Potential concerns − High cost 93 million − Safety issue male patients aged from 30-70 Limited medical solution

• Strong demand by patients for the medical treatment with proven efficacy and safety 31 million male patients • Treatment rate for hair loss remains high and is expected to aged from 30-70 improve consistently each year Market Size of Drugs Approved for Androgenetic Alopecia • OTC options and hair transplant are rapidly growing due to the US$1.4bn in 2028 lack of effective and safe medical options

Source: Company Prospectus, Frost & Sullivan analysis, 36 4 Pyrilutamide – Acne Vulgaris

Pathophysiological Processes Classification of Acne Severity

Severity Defination

< 20 comedones, or < 15 inflammatory lesions, Mild or < 30 total lesions

20 to 100 comedones, or 15 to 50 inflammatory Moderate lesions, or 30 to 125 total lesions

> 5 cysts, or total comedone count > 100, or total Severe inflammatory lesion count > 50, or > 125 total lesions

Treatment Algorithm for Management of Acne Vulgaris

Mild Moderate Severe

¶ Topical combination therapy* – OR – BP Oral antibiotic + Oral antibiotic + – OR – Topical retinoid + Topical combination First-line Topical retinoid BP ¶ therapy* treatment – OR – – OR – – OR – Topical combination Oral antibiotic + ¶ Oral isotretinoin therapy* Topical retinoid + BP + Topical antibiotic Consider alternate combination Consider change in • The pathogenesis of acne involves several processes, including sebum Add topical retinoid or therapy oral antibiotic production and sebocyte differentiation, proliferation, and BP (if not on already) – OR – – OR – inflammation. – OR – Consider change in oral Add combined oral • These processes are regulated by circulating sex hormone levels as Alternative Consider alternate antibiotic contraceptive or oral treatment retinoid – OR – spironolactone well as locally synthesized hormones, neuropeptides, the microbiota, – OR – Add combined oral contraceptive (females) and pro-inflammatory cytokines, lipid mediators, antimicrobial Consider topical or oral spironolactone (females) – OR – peptides, and monounsaturated fatty acids (MUFAs). 。 dapsone – OR – Consider oral Consider oral isotretinoin isotretinoin

*BP + antibiotic; or Retinoid + BP; or Retinoid + BP + antibiotic Source: Nature, MSD Manuals, JAAD: ACNE CLINICAL GUIDELINE

37 Mechanism of AR Inhibitors for AGA and Acne Treatment 4 Proven

Case Study - Cassiopea MoA

27 Aug 2020, Cassiopea announced that the US FDA has Clascoterone is a “first-in-class” androgen receptor (AR) approved a new drug application for its Clascoterone (1% inhibitor for external use. The chemical competes with concentration) cream for the treatment of acne. androgens, particularly DHT, and with the sebaceous glands and androgen receptors within the hair follicles. Clascoterone This is the first new mechanism inhibits lipid production in cultured sebocytes and reduces drug for acne treatment approved pro-inflammatory cytokines affected by androgens. by FDA in the past 40 years. Patent will expire in 2028. Indication of AGA Benefit to Market Cap Cassiopea is conducting clinical trials for treatment of AGA with Clascoterone, which are in Phase II.

3 Jan 2020 28 Aug 2020 Stock Price: 41.4 CHF Stock Price: 55.8 CHF Mkt Cap: 414 million CHF Mkt Cap: 599.9 million CHF (c. 457.7 million USD) Mkt Cap (c. 663.2 million USD) +44.9%

Source: Cassiopea official web, Press Release, Yahoo Finance

38 4 Pyrilutamide – Androgenetic Alopecia

Mechanism of Action Key Advantages

Androgenetic alopecia occurs when androgen binds to the AR in hair follicle cells Pyrilutamide has the potential to redefine the market given its treatment avoids and an enzymatic reaction occurs, which ultimately causes hair follicles to shrink notable side effects that have deterred users from accepting the treatment

Vs. Minoxidil An AR complex forms after the androgen binds to the AR and a complex Despite being an approved product, Minoxidil lacks clear evidence enzymatic reaction occurs • of mechanism of action on androgenetic alopecia • Minoxidil also lacks specific targeted therapy and the coverage and response of androgenetic alopecia patients are also limited The AR complex undergoes a series of processes that causes the hair to prematurely enter into a resting period and shrink hair follicles Vs. Finasteride • Finasteride has shown to cause adverse sexual side effects such as decreased libido and ejaculation disorder

DHT formation catalysed by 5α reductase is an important process that • Additionally, Finasteride is only approved for use in men, and leads to androgenetic alopecia. Finasteride promotes hair growth by found to be ineffective for treating androgenetic alopecia in inhibiting synthesis of androgen DHT women

Pyrilutamide addresses androgenetic alopecia by locally blocking the androgen mediated signalling by competing with androgen to bind to AR Pyrilutamide in the targeted tissues • Pyrilutamide is anticipated to be topical administered with limited systematic drug exposure • As Pyrilutamide does not affect androgen levels in human Pyrilutamide is designed for topical application, and it acts directly on the bodies, Pyrilutamide is not expected to cause impotence, target treatment areas of the scalp with low systematic drug exposure which has been a large deterring factor for patients

39 4 ALK-1: Potential First-in-class Fully Human Mab

Addressing Limitations in Existing VEGF Inhibitors with the Potential to Become a Complementary Combo Drug for Solid Tumours ALK-1 is a fully humanised IgG2 neutralising monoclonal antibody for vascular endothelial cells ALK-1 and can both inhibit the growth of tumour vessels / reduce their blood flow and vascularisation by blocking its receptors and alter the tumour microenvironment

Anti-angiogenic Drugs: The Limitations of Existing ALK-1 Pathway as a Potential Opportunity to Solve an Current Backbone Therapy VEGF Inhibitors Potential Escape Path Unmet Medical Need

Due to its efficacy & milder side effects, anti- However, certain patients develop VEGF Research has hypothesized that the ALK-1 As such, ALK-1 signalling may also be a angiogenic drugs (i.e. VEGF inhibitors) have resistance, rendering VEGF inhibitors ineffective in pathway may allow tumours to escape from the complementary angiogenesis pathway to be become a key treatment for liver cancer treating the cancer effects of VEGF inhibitors activated upon VEGF resistance

ALK-1 overexpression • Avastin in human breast and • Axitinib colon tumours • Sorafenib

ALK-1 antibody received the exclusive global license from Pfizer in 2018 for development, production and commercialization, which also covered all types of cancers. It received grants from the National Science and Technology Major Project of the Thirteenth Five-Year plan. Latest Clinical Progress of GT90001: Combination therapy with a PD-1 for metastatic HCC commenced in May 2019 in Taiwan

Stage 1: GT90001 (7、4.5、 3 mg/kg) +Nivolumab (3 mg/kg), 6 patients/group, if Preliminary result: no DLT was observed, move on to stage 2 Clinical The results showed that among the 20 evaluable patients, Trial no DLT was observed, move on to stage 2 eight patients (40.0%) were observed partial remission (PR). Design of The side effects were well tolerated and manageable. The Phase II Stage 2 (Expansion Cohort): 14 patients pharmacokinetic parameters of GT90001 and Nivolumab Primary Endpoints: Safety, Tolerability are similar to those of monotherapy. Secondary Endpoints: ORR, DOR, DCR, TTR Source: Company Prospectus

40 4 ALK-1 (GT90001) – Metastatic HCC

Study Design: a phase I/II, open-label, single arm,dose de-escalation and expansion trial of GT90001 in combination with Nivolumab (NCT03893695)

Study Population: Primary Endpoints

• HCC with at least one measurable lesion. • Safety and tolerability • BCLC C or B (refractory or not amenable to locoregional therapy). Secondary Endpoints • Have documented disease progression or intolerance after first-line systemic treatment with Sorafenib or Lenvatinib • ORR (investigator) • Child-Pugh score ≤ 6. • DOR, DCR, TTR, PFS (investigator) • ECOG performance status: 0-1. • PK profile

Stage One: Safety evaluation

GT90001 SMC Stage Two: Dose Expansion • 7.0 mg/kg, iv, Q2W Nivolumab GT90001 SMC • Subject Population: same as stage one • 3.0 mg/kg, iv, Q2W • 4.5 mg/kg, iv, Q2W N = 14 (enrollment completed in June GT90001 Cohort A, N = 6, no DLT Nivolumab 2020) • Treatment: • 3.0 mg/kg, iv, Q2W • 3.0 mg/kg, iv, Q2W GT90001 7.0 mg/kg, iv, Q2W Nivolumab Nivolumab 3.0 mg/kg, iv, Q2W • 3.0 mg/kg, iv, Q2W

41 4 ALK-1 (GT90001) – Metastatic HCC (cont’d)

Safety Results

Table 2. AEs occurring in ≥10% of patients (N = 20) update date: 30-Sep-2020 All AEs(N=20) Treatment-related AEs(N = 20) N（%） N（%） All Grades ≥ Grade 3 All Grades ≥ Grade 3 Platelet count decreased 11(55) 3(15) 11(55) 3(15) Pruritus 9(45) - 8(40) - Rash 7(35) 2(10) 7(35) 2(10) Aspartate aminotransferase increased 3(15) 1(5) 3(15) 1(5) Epistaxis 3(15) - 3(15) - Fatigue 5(25) - 2(10) - Blood bilirubin increased 3(15) - 2(10) - Hot flush 3(15) - 2(10) - Headache 2(10) - 2(10) - Alanine aminotransferase increased 2(10) - 2(10) - Blood thyroid stimulating hormone increased 2(10) - 2(10) - Eosinophilia 2(10) - 2(10) - Hyperthyroidism 2(10) - 2(10) - • No DLTs were observed in the cohort A in dose de-escalation phase. • In total, 20/20 (100%) patients ≥1 treatment-related AE, mainly mild to moderate and easily manageable. • Treatment related grade 3-4 AEs were reported in 6 patients (30%), including platelet count decreased (n=3, 15.0%), skin rash (n=2, 10%), Aspartate aminotransferase increased(n=1,5%). No grade 5 AEs reported. • 3 patients (15%) experienced treatment-related SAEs (renal dysfunction G2, hepatitis G2, hyperamylasemia G2).

42 4 ALK-1 (GT90001) – Metastatic HCC (cont’d)

Efficacy Results

Table 3. Preliminary efficacy results update date: 30-Sep-2020

ORR DOR（N=8） GT90001 (7 mg/kg) + PR ORR SD≥16weeks DCR (confirmed) ＞ Nivolumab (3 mg/kg) (N = 20) (N = 20) (N = 20) (N = 20) ＞6months (N = 20) 12months Number (%) of Patients 40% (8/20) 40% (8/20) 25% (5/20) 10%(2/20) 50% (10/20) 12.5%（1/8） 37.5（3/8） • As of 30th Sep. 2020, all 20 patients had received at least one non-baseline tumor evaluation. • Eight (8) patients achieved PR while five (5) pts achieved confirmed PR. One patient has not yet reached confirmed PR. • Six(6)patients remain on responding status. Treatment Duration in Individual Patient

PD:

SD:

patients PR:

Continuous treatment: Individual First time point of PR:

Subsequent time point of PR:

0 50 100 150 200 250 300 350 400 450 days • One (1) patient with 1-time study drug administration is excluded from the figure with best response of progression disease. • All patients who ended treatment were due to disease progression.

43 4 ALK-1 (GT90001) – Metastatic HCC (cont’d)

PK Analysis N i v o l u m a b : M e a n C o n c .  S D G T 9 0 0 0 1 : M e a n C o n c .  S D

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P l a n n e d p o s t - d o s e t i m e p o i n t ( h o u r ) P l a n n e d p o s t - d o s e t i m e p o i n t ( h o u r )

• In the combination, the pharmacokinetics of GT90001 and nivolumab were similar to those observed in monotherapy. • Serum concentrations declined in a bi-exponential manner over the course of the treatment interval. • GT90001 was slowly eliminated from the circulation.

Table 4. PK pharmacokinetic parameters* *Geometric Mean, Geometric Coefficient of Variation(%)

Tested Drug AUC0-t (hr*μg/mL) CL (mL/hr/kg) T1/2 (day) Cmax (μg/mL) N=6 N=6 N=6 N=6 GT90001 20160.9 ±37.8 0.23 ±0.08 10.1 ±5.1 159.3 ±42.3 Nivolumab 7043.7 ±46.1 0.179 ±0.054 16.3 ±4.3 50.3 ±23.6

44 4 ALK-1 (GT90001) – Metastatic HCC

Overview of the Metastatic HCC Market Competitive Landscape

# of Liver Cancer Patients # of Liver Cancer Patients Anti-angiogenic drugs have increasingly become the key treatment for liver ('000) ('000) cancers as they exhibit milder side effects than conventional cytotoxic drugs

14-18 18-23E 23E-28E 14-18 18-23E 23E-28E VEGF Inhibitors (Monoclonal Antibodies) CAGR (%) 10.6% 8.3% 7.1% CAGR (%) 15.4% 8.7% 6.8% • Notable drugs: Avastin

1,179 • Avastin binds to vascular endothelial growth factor, preventing or 228 reducing micro-vascular formation and growth and inhibiting 838 164 metastatic disease progression 562 108 375 61 VEGF Inhibitors (Small Molecule Drugs) • Notable Drugs: Sorafenib and Lenvatinib 2014 2018 2023E 2028E 2014 2018 2023E 2028E • Sorafenib interacts with multiple intracellular and cell surface kinases, that inhibit angiogenesis Key Characteristics • Lenvatinib is a receptor tyrosine kinase (RTK) inhibitor and also inhibits other RTKs that have been implicated in pathogenic Prevalence is higher amongst individuals from East Asia, with the most angiogenesis, tumour growth, and cancer progression common being HCC ALK-1's signaling pathway may be one of the mechanisms that allow tumours to escape from the inhibitory effects of VEGF inhibitors Liver cancer represents the 4th most frequent cancer and the 2nd leading cause of death in China in 2018 ALK-1 • There are currently no approved drug using the same Key Growth Drivers mechanism of action or the same target as ALK-1

Multiple risk factors that can lead to primary liver cancer, including but not • As such, ALK-1 has the potential to fill a gap in the liver cancer limited to hepatitis B virus and hepatitis C virus infections, cirrhosis, alcohol, market for patients with HCC who were intolerant to VEGF aflatoxins and tobacco inhibitor Sorafenib or are experiencing disease progression after treatment with Sorafenib

Source: Company Prospectus and Frost & Sullivan Analysis

45 4 Detorsertib: mTORC1 and mTORC2 Dual Inhibitor

Highlights MoA

 Detorsertib is a second-generation mTOR inhibitor that inhibits both mTORC1 and mTORC2  Has shown greater therapeutic advantages as compared with first- generation mTOR inhibitors that only inhibit mTORC1.  There was no mTORC1/mTORC2 dual inhibitor that had been approved for marketing globally.

Global ongoing clinical studies on mTORC1/2 dual inhibitor

Drugs Company Stage/Indications/Locations • Phase 2: NSCLCa, US • Phase 2: HCCb, China/US/S Korea Onatasertib • Antengene & • Phase 2: MM, US (CC-223) Celgene • Phase 2: Non-Hodgkin lymphoma, US • Phase 1: Diffuse large B-cell lymphoma, EU/US Detorsertib • Kintor • Phase 1: Leukaemia and BCC, China/US • Diffusion DFN-529 • Phase 1: Age related macular degeneration, US Pharma XP-105 • Xynomic • Phase 1: Solid tumor, Germany/Belgium/Italy The PI3K/AKT/mTOR signalling pathway helps regulate • Shandong various cellular functions, including cell proliferation, SCC-31 • Phase 1: Metastatic breast cancer Luoxin differentiation, apoptosis and nutrition. a. CC-223 combo with Erlotinib or Azacitidine; b. CC-223 mono. First generation mTOR inhibitor only inhibits mTORC1 and has no efficacy on mTORC2, which can cause the activation of oncogene Other drug candidates are in pre-clinical stage AKT and AMPK and drug resistance through mTORC2. • CMG-101(developed by CHA University, S. Korea, treatment for RCC) Detorsertib can compete with the catalytic site of mTOR for • mTOR inhibitor (developed by Nankai University) ATP, reducing the toxicity of dual inhibition of PI3K/mTOR without affecting the feedback pathway such as AKT.

Source: Zhang et al, Int J Mol Sci, 2019, prospectus 46 4 GT1708F: Hedgehog Signaling Pathway SMO Inhibitor

MoA Competitions Three approved SMO inhibitors in US/EU: Glasdegib for AML (Pfizer), Sonidegib Tumour cells have abnormal activation of Hedgehog signalling pathway for BCC (Novartis/Sun), Vismodegib for BCC (Genentech/Roche). (PTCH, the patched, deletion or SMO overexpression) and overexpression of the target gene. Drugs in clinical stage globally Drug Active Company Global Dev. Glasdegib Pfizer • Phase III, China • The occurrence of medulloblastoma and basal-cell carcinoma are associated Phase 2: Basal cell nevus syndrome, US; Novartis AG; Sun Myelofibrosis: Switzerland with abnormal activation of the Hedgehog signalling pathway. Sonidegib Pharmaceutical Industries Ltd • Phase 1: Myelodysplastic syndrome: France • Phase 2: Meningioma / Head and neck Genentech Inc; Roche Vismodegib tumor, US The Hedgehog signalling pathway is activated by up-regulating SMO in acute Holding AG myeloid leukaemia cells and chronic myeloid leukaemia stem cells • Phase 1: Odontogenic tumor, US • patidegib (topical Phase 3: Basal cell nevus syndrome, US PellePharm Inc gel) • Phase 2: BCC, US/UK NLM-001 Nelum Corp • Phase 2: Pancreas tumor, US The occurrence of chronic myeloid leukaemia in a mouse model can be reduced through the inhibition of SMO. Kintor ranks the second among clinical trials in China NO. Drug Name Active Company Dev. in China 1 Glasdegib Pfizer Inc AML: Phase III Kintor Leukaemia and BCC: 2 GT-1708F Pharmaceutical Ltd Phase I deuterated vismodegib Hinova 3 Preclinical analogs Pharmaceuticals Inc hedgehog signaling Simcere 4 Preclinical pathway inhibitors Pharmaceutical Group IMPACT Therapeutics 5 IMP-5471 Preclinical Inc hedgehog pathway Zhejiang Academy of 6 Preclinical inhibitors Medical Sciences hedgehog signaling 7 Fudan University Preclinical pathway inhibitors

Source: Prospectus 47 4 PROTAC: Emerging Technology in Drug Discovery

PRPTAC: PROteolysis TArgeting Chimera

Ubiquitinproteasome system(UPS) is a PROTAC hijacks UPS in the cell to degrade natural protein degradation process target protein

• Much of the turnover of protein in cells is mediated by the UPS. • Using the UPS to induce degradation of specific target proteins has been studied for decades. • PROTACs are heterobifunctional compounds comprising a recruiting element for a protein of interest (POI) and an E3 ligase recruiting element bound together via a linker. By bridging the gap between a POI and an E3 ligase and inducing their proximity, PROTACs can induce the ubiquitination of the POI and then degrading POI.

48 4 PD-L1 / TGF-β Dual Targeting Antibody

Advantage in Composition Competitive Landscape

No new drugs have been approved. The fastest clinical trials in progress are by Merck KGaA With a high activity in inhibiting both PD-L1 and TGF-β. • Merck KGaA - Bintrafusp alfa Pre- Phase Phase Genetic engineering modification Indications IND Phase I NDA clinical II III could reduce its degradation or fragmentation in CHO cell NSCLC expression proteins, which makes it easier to be commercially produced BTC and becomes a potential “best-in- Cervical cancer class” drug Multiple types of solid tumours Potential Indications and Market Opportunities A few companies are developing PD-L1 / TGF-β dual targeting Could be treatment for a variety of solid tumours, including: antibody in China

Non-small cell lung cancer (NSCLC) 1L/2L • Hengrui Medicine – SHR1701 Pre- Phase Phase Lung cancer is one of the malignant tumors with the highest incidence and Indications IND Phase I NDA number of deaths. Among them, NSCLC accounts for more than 85% clinical II III NPC Biliary tract cancer (BTC) 1L/2L From 2019 to 2023, the CAGR of the global BTC treatment market will be Multiple types of solid tumours close to 6%

Cervical cancer (CC) 2L • Pumis Biotechnology – PM8001 CC ranks the second in mortality rate of cancers among women. About 500,000 women are newly diagnosed with cervical cancer every year globally. Pre- Phase Phase Indications IND Phase I NDA clinical II III

Nasopharyngeal carcinoma (NPC) Advanced solid tumours NPC is one of the high incidence of malignant tumors in China, and the incidence rate ranks the first among tumors of otolaryngology

Source: Merck KGaA Official Web, CDE, Technavo market research reports, Press Release

49 5 Integrated R&D Platform Spearheaded By Top Scientists

Dr. Youzhi Tong (Ph.D.) Dr. Xunwei Dong (M.D.) Chairman, CEO & Founding Chief Medical Officer Member

 17+ years of experience in biopharm R&D and management  18+ years medical related experience in Novartis,  National innovative talent Pfizer and GSK  Former VP of Angion Biomedica in the U.S.  Previous Clinical Development Medical director of  Former Assistant professor of Albert Einstein College Novartis of Medicine  10 years experience as an attending surgeon  Ph.D. in pharmacology from Cornell; MA and BA in  M.D. from Peking Union Medical College Chemistry from PKU

Lucy Lu Dr. Jie Chen (Ph.D.) Chief Financial Officer Deputy General Manager, Joint Company Secretary

 13+ years of experience in investment banking  10+years of experience in drug R&D  Former head of investment banking and managing  Published nearly 20 papers and holds 4 patents director at GF Capital  Working as guest researcher at Suzhou Research  Executive director in the Asian healthcare group at Institute of LICP UBS

50 5 Integrated R&D Platform Spearheaded By Top Scientists

Juping Shen Liandong Ma Dr. Ruo Xu (Ph.D.) Deputy General Manager Vice President, Vice President Head of Institute of R&D R&D (Chemistry)

 20+ years of experience in the  30+ years of experience in the  Senior scientist of Eli Lilly and Company pharmaceutical industry pharmaceutical industry  20+ years of experience in the development  Former Chief Scientist of Schering-Plough,  Main drafter of Chinese GMP and related of new oncology drugs, leading and and worked in Merck for more than 15 years rules participating in more than 10 oncology drug  Responsible for the design and synthesis of  Worked in Otsuka, Eisai, Chiatai Tianqing, R&D projects, and bringing 4 drugs to the more than 7 small molecule inhibitors Sanhome, Fresenius Kabi clinical stage  Published 50 papers and holds 15 patents

Dr. Jianfei Yang (Ph.D.) Dr. Jianhua Shen (Ph.D.) Vice President Analytical Development R&D (Biologics) Senior Director

 17+ years of experience in Boehringer-  20+ years of experience in analytical R&D Ingelheim and GSK in immune-related management in pharmaceutical industry drug R&D  Worked for Synta and Inotek in US  Published 12 papers as corresponding  Former Senior R&D Director at WuXi authors and holds 4 patents PharmaTech

51 5 Integrated R&D Platform Spearheaded By Top Scientists

Fang Liu Jian Cui Dr. Phoebe Zhang (Ph.D.) Government Affairs Regulatory Affairs Senior Director US Clinical Operations Senior Director Director  Licensed Pharmacist  Rich experience in clinical development and  19 years of experience in sales,  10 years of Eli Lilly and 10 years of AstraZeneca medical affairs in the in vitro diagnostics government affairs, and market access work experience in drug registration and precision cancer medicine  Served in Double Crane Pharmaceutical  Experience in NDA/LE application and approval  Worked as Medical Affairs Manager at Relia and Yabao Pharmaceutical of more than 4 pharmaceutical products  Harvard Medical School M.D.

Ying Guan Enle Chen Dr. Xue Zhong (Ph.D.) Commercial Head BD Director BD Director

 15 years of experience in marketing, new  10 years of experience in BD. Served in Bayer,  More than 5 years of work experiences in product launch, portfolio management Hanhui Pharmaceutical, and Springfield. R&D and BD  Former Marketing Associate Director in  Graduated from the Law School of Fudan  Ph.D. from Changchun Institute of Applied Astrazeneca. Served in Tsumura, Santen, University, passed China Bar Qualification, and Chemistry, Chinese Academy of Sciences Baxter China was CFA Chart holder  Worked at HEC Research Center

52 6 Well-Developed Commercialisation Plan for Rapid Expansion

Drug Discovery Clinical Development to • Proprietary laboratory research Business model propelled by robust R&D • Led by US returnees with strong US and identify and select best-in-class and first- engine, with developing manufacturing China R&D track record in-class compound and commercial capabilities • Explore potential global strategic • Local R&D team supporting project partnerships with top global developments pharmaceutical companies • Comprehensive US and China clinical trial • Supported by renowned experts served management and monitoring as senior advisors from top institutions

Manufacturing Commercialization 2 • Well placed to achieve speed-to-market • c. 20,000 m of land for building modern and market penetration innovative drug manufacturing and R&D • Current clinical trials covering 48 base in Suzhou, and put into operation in the end of Aug 2020 hospitals with prostate cancer specialists

• Strong foundation for pre-launch market 2 education • Expect to acquire c.40,000 m of land in • Medical collaboration with influential KOLs Pinghu for the establishment of and oncologists manufacturing facilities for APIs • Obtained China's First MAH approval for • Tablet production line with an expected a novel drug developer from the NMPA production capacity of 50+ million tablets for Proxalutamide per annum after factory construction in Suzhou

Market Hospital Seasoned Education Coverage Sales Team

Source: Company Prospectus

53 Section 3 Our Strategies Our Strategies

Rapidly advance the clinical development, regulatory approvals and commercial launch of Proxalutamide in China

Strategically progress the clinical development of Proxalutamide in the United States and expand its indications

Continue the clinical development of Pyrilutamide in both China and the United States

Continue the clinical development of ALK-1 as a monotherapy and combination therapy and increase our focus on biologics R&D

Enhance our proprietary R&D capabilities to further the development of potential first-in-class and best-in-class drugs, particularly based on our PROTAC technology platform

Explore potential strategic partnerships with global pharmaceutical companies through licensing-in / licensing-out and co- development strategy

55 R&D and Manufacturing Capabilities

Fully-integrated R&D Platform Global Supply Manufacturing Facility

To meet commercial scale production with GMP requirements, and received Sophisticated R&D Process production permit in Nov 2020

Small-molecule Biologics

Pharmaco Chemistry Biology Antibody kinetics MAH approval from NMPA

Clinical Clinical Analytical Formulation First in China for a Operation Medicine Research novel drug developer

2 Pre-clinical stage 4,100m Total gross floor Clinical stage area globally 20,000m2 40,000 m2 Industrial land owned in Suzhou Experienced R&D Team Completed construction Expected to be acquired Production permit ready in Nov for APIs production • Our core R&D personnel includes leading scientists and 2020 researchers with drug discovery experience from U.S. biotech companies and global pharmaceutical companies • Our core R&D personnel have accumulated extensive experience from research institutions, universities and pharmaceutical companies in the relevant therapeutic areas 50+ million tablets (Proxalutamide) annual capacity • Majority of R&D personnel have obtained master’s or Ph.D. after Suzhou factory construction degrees

56 Modern Innovative Drug Manufacturing and R&D Base

Reception Discussion corner Office

R&D equipment Meeting room

57 Section 4 Financial Performance Overview of Key Financials

Research and Development Cost Cash and Cash Equivalents

USD'000 USD'000

271,539 5% 32,427 3% 16%3% 12% 16% 13%

28% 22,481 44,889 17% 18%2%

27% 7% 16% 25,217 10% 14,121 22% 13,550 13% 5% 4% 6% 55%16% 3%12% 53% 27%13% 21% 28% 18% 29%48% 31% 20% 22% 34% 29,626 8% 20,835 53% 37% 9,449 29% 2017 2018 1H18 1H19 2018 2019 1H2019 1H2020 2018/12/31 2019/12/31 2019/6/30 2020/6/30

Clinical research expenses Employee benefit expenses Third party contracting fees Materials and consumables expenses Others • R&D costs increased by 65.9% in the first half of 2020: (I) an increase of RMB • The increase in cash and cash equivalents in the first half of 2020 is 29.2 million(USD 4.4 million) in materials and consumables expenses; ii) an mainly due to IPO proceeds and bank borrowings increase of RMB 15.9 million(USD 2.4 million) in employee benefit expenses, • The company has been listed in May 2020 with net proceeds of an including RMB 6.5 million(USD 0.98 million) in equity incentive plan amount of about HK $1.7billion (USD 218 million) expenditures; (III) an increase of RMB 7.3 million(USD 1.1 million) in third- party contracting fees; (IV) an increase of RMB 6.8 million(USD 1.03 million) • As of 30 June 2020, we had bank loans of RMB 208.2 million(USD 31.5 in clinical research expenses million) and unutilised bank facilities of RMB 146.9 million(USD 22.3 million)

Note: USD/CNY=6.6 59 Overview of Key Financials

Administrative Expenses Distribution and Marketing Costs

USD'000 USD'000

6,821 545 5% 3% 8% 4% 16% 12%

13%

44,889 28% 46% 18%

7% 25,217 10% 96% 22% 3%

1,835 6% 13% 55% 3% 53% 11% 27% 25% 29% 31% 20% 10% 30% 29% 34% 8% 0 25% 2017 2018 1H18 1H19 - 1H2019 1H2020 1H2019 1H2020

Employee benefit expenses Utilities and office expenses Employee benefit expenses Others Depreciation and amortization Listing expenses Others

• In the first half of 2020, the administrative expenses increased by 271.6% • Our distribution and marketing costs increased from nil in the first half over the same period last year, mainly due to: (I) an increase of RMB 10.7 of 2019 to RMB 3.6 million(USD 545 thousand) in the first half of 2020, million(USD 1.6 million) in employee benefit expenses; ii) an increase of RMB which consisted of employee benefit expenses of RMB 3.4 million(USD 2.3 million(USD 348 thousand) in utilities and office expenses as we expand 515 thousand) (including equity incentive plan expenditure of RMB 0.6 office space; (III) an increase of RMB 17.7 million(USD 2.7 million) in listing million(USD 91 thousand)), mainly due to the establishment and expenses; and (IV) an increase of RMB 2.2 million(USD 333 thousand) in expansion of sales and marketing team in preparation for Proxalutamide other administrative expenses

Note: USD/CNY=6.6 60 Overview of Key Financials

Net Cash Flows Used in Operating Activities Net Cash Flows Generated from Financing Activities

USD'000 USD'000

271,642 34,552

25,032

17,404

13,582

46,051 44,826

1,077

2018 2019 1H2019 1H2020 2018 2019 1H2019 1H2020

• The net cash outflow from operating activities mainly includes R&D expenses and administrative expenses • In the first half of 2020, the net cash inflow from financing activities • In the first half of 2020, the increase of R&D expenditure is mainly due to the mainly includes IPO proceeds and bank loans increase of material cost brought by the project in clinical phase III and the • In the first half of 2019, the net cash inflow from financing activities increase of salary and welfare expenses brought by the expansion of R&D mainly came from bank loans team size; the increase of administrative expenditure is mainly due to the increase of non R&D employees, and the increase of IPO expenses (one-time)

Note: USD/CNY=6.6 61 Overview of Key Financials

Capital Expenditure

USD'000

27,898 25,673

4,091 3,113 3,483 3,806 1,260 577 222 170 539 1,043 301 455 253 1,251 1,464 53 30 1,415 8 98 - 141 700 420 179 - 2018 2019 1H2019 1H2020 2017 2018 1H19 Construction in progress Machinery and equipment Intangible assets Others

• In the first half of 2019 and the first half of 2020, our capital expenditure amounts are RMB 25.7 million(USD 3.9 million) and 33.0 million(USD 5 million) respectively, which are mainly used for Suzhou factory construction (including civil engineering, electromechanical, etc.) and equipment procurement, as well as intangible assets (including authorized introduction and software purchase) • We expect capital expenditure in the second half of 2020 and 2021 to be mainly land acquisition, design construction and engineering of the Pinghu plant

Note: USD/CNY=6.6 62 Income Statement

Six months ended 30 June 2019 2020 RMB'000 Revenues - - Cost of sales - - Gross profit - - Other income 4,064 4,497 Distribution and marketing costs - (3,595) Administrative expenses (12,113) (45,016) Research and development costs (89,427) (148,375) Other(losses)/gains-net 117 (973)

Operating loss (97,359) (193,462) Finance costs-net (1,146) (1,985) Loss before income tax (98,505) (195,447) Income tax expense - - Loss and total comprehensive loss for the period (98,505) (195,447) Listing expenses (one-time) 3,043 20,761 Share-based compensation expenses - 10,998 Adjusted loss and total comprehensive loss for the period (95,462) (163,688) • In the first half of 2020, our other income came from interest income and government subsidies, and our main expenditure was R&D and administrative expenses • In the administrative expenses, IPO related expenses and staff wages and benefits increased significantly, while in R&D costs, material expenses and staff wages and benefits increased significantly • Excluding one-time expenses and non cash items (listing expenses and equity incentive plan expenditures) • The listing expenses in the first half of 2019 was RMB 3.0 million；in the first half of 2020, the listing expenses is RMB 20.8 million, and the equity incentive plan is RMB 11.0 million

Note: USD/CNY=6.6 63 Income Statement

2018 2019 RMB'000 Revenues 698 - Cost of sales (689) - Gross profit 9 - Other income 12,298 19,018 Distribution and marketing costs - (336) Administrative expenses (24,104) (32,763) Research and development costs (93,198) (214,019) Other(losses)/gains-net 518 587

Operating loss (104,477) (228,687) Finance costs-net (4,007) (3,890) Loss before income tax (108,484) (232,577) Income tax expense - - Loss and total comprehensive loss for the period (108,484) (232,577)

• We generated revenue in 2018 from the provision of technology services to Suzhou Koshine in relation to the pre-clinical development of KX-826 prior to our acquisition of Suzhou Koshine in November 2018. We did not generate any revenue in 2019 • We also generated revenue of RMB9,000 from an independent third party in 2018 for the provision of technology services on an ad hoc basis • We target to submit NDA for Proxalutamide in 2021 and our own manufacturing facilities in Suzhou will be ready for GMP manufacturing in Q3 2020. We expect sequenced product launches commencing in 2022

Note: USD/CNY=6.6 64 Balance Sheet

As of Dec 31, 2019 As of Jun 30, 2020 （Audited） （Unaudited） RMB'000 Assets Non-current assets Property, plant and equipment 98,369 140,422 Intangible assets 179,299 179,270 Right-of-use assets 14,412 12,811 Other non-current assets 40,683 37,417 332,763 369,920 Current assets Other receivables, deposits and prepayments 25,081 15,044 Cash and cash equivalents 195,532 1,792,159 220,613 1,807,203 Total assets 553,376 2,177,123

Liabilities Non-Current Liabilities Borrowings - 98,500 Lease liabilities 2,311 936 Deferred income tax liabilities 38,818 38,818 41,129 138,254

Note: USD/CNY=6.6 65 Balance Sheet

As of Dec 31, 2019 As of Jun 30, 2020 （Audited） （Unaudited） RMB'000 Current liabilities Trade and other payables 79,999 124,810 Borrowings 58,700 109,700 Lease liabilities 3,086 3,048 Deferred income 798 517 142,583 238,075 Total liabilities 183,712 376,329

Equity Equity attributable to the equity holders of the company Share capital 17 261 Shares held for the Employee Incentive - (17) Scheme Reserves 369,647 1,800,550 Total equity 369,664 1,800,794 Total equity and liabilities 553,376 2,177,123

Note: USD/CNY=6.6 66 Cash Flow Statement

Six months ended 30 June

2019 2020

RMB'000

Net cash used in operating activities (89,643) (162,225)

Net cash (used in)/generated from investing activities 7,386 (33,032)

Net cash generated from financing activities 7,109 1,792,803

Net increase/(decrease) in cash and cash equivalents (75,148) 1,597,546

Cash and cash equivalents at the beginning of the period 137,513 195,532

Exchange gains on cash and cash equivalents - (919)

Cash and cash equivalents at the end of the period 62,365 1,792,159

Note: USD/CNY=6.6 67 Q&A

68 Appendix A Clinical Trials and Results 1 Proxalutamide (GT0918) – mCRPC

Latest Clinical Progress in China (Monotherapy)

Key Information Ongoing Clinical Trials

Phase III Clinical Trials in China Expected Approval To evaluate the impact on the rPFS and overall survival time, the safety, as well as the relationship between the 2021 Expected to submit its discovery of biomarkers and the efficacy of Proxalutamide in mCRPC patients who have failed Abiraterone 1st NDA in 2021 and Docetaxel treatments

Timing Patient Enrolment Clinical Progress Multi-centre, randomised, double blind clinical trials Currently undergoing Apr 2018 • Obtained approval from the NMPA Ph III clinical trials in China 330 patients May 2018 • Commenced trials from 38 sites nationwide

Safety Sep 2018 • Patient enrolment commenced Experimental Control No epilepsy in clinical 220 patients to receive a fixed 110 patients to receive a trials, with most AEs Aug 2020 • Patient enrolment completed 200mg dose Proxalutamide placebo each day recorded being mild / per day moderate • Expected to complete the collection, 2021 analysis and summary of OS events Each treatment cycle lasts 28 days1 Efficacy Have preliminarily demonstrated anti- Co-primary endpoints: Radiographic progression-free survival (rPFS), overall survival(OS) tumor effects

Source: Company Prospectus Note: 1. Until subjects first experience disease progression, intolerable AE or withdraw their consents

70 1 Proxalutamide (GT0918) – mCRPC (cont'd)

Latest Clinical Progress in China (Combination therapy with Abiraterone)

Key Information Ongoing Clinical Trials

Expected Timetable Phase III Clinical Trials in China Expected to complete To evaluate the efficacy and safety of Proxalutamide’s combination therapy with Abiraterone in comparison with Abiraterone patients enrolment in 2021 in monotherapy as a first-line treatment for mCRPC

Timing Patient Enrolment

Clinical Progress 1st Phase: Multi-centre, open, one-arm 2nd Phase: Evaluation of rPFS, pharma- Completed Phase I/II as a design to assess safety and tolerability codynamic indicators, safety and others monotherapy and undergoing Phase III trials • Enrolment of patients for 6 patients 588 patients Apr 2019 as a combo therapy the 1st phase of the trials recruited via parallel enrolment recruited via parallel enrolment

Safety Test Group 294 patients 294 patients • Enrolment of patients for Aug 2019 Each patient was treated with 400 No epilepsy, with most AEs the 2nd phase of the trials Combo Abiraterone mg of Proxalutamide in combo therapy monotherapy recorded being mild / with 1000 mg of Abiraterone moderate in monotherapy clinical trials • Phase III clinical trial Stratification factors will include: 2021 expected to complete Completed. No treatment- patients enrolment • Visceral metastasis Efficacy related DLT found. • If cytotoxic drugs (i.e. Docetaxel) Have preliminarily are used for systemic therapy in demonstrated anti-tumor the hormone sensitive period effects in monotherapy Primary endpoints: Radiographic progression-free survival (rPFS) trials • Gleason score

Source; Company Prospectus Note: 1. Lowest acceptable doses of Proxalutamide and Abiraterone are 300 mg and 750 mg, respectively 2. Until subjects first experience disease progression, intolerable AE or withdraw their consents

71 1 Proxalutamide (GT0918) – mCRPC (cont'd)

Latest Clinical Progress in the US (Monotherapy)

Key Information Ongoing Clinical Trials

Phase II Clinical Trials in the US Expected Approval To evaluate the safety and tolerability of Proxalutamide in patients with mCRPC who have failed Abiraterone or Expected to complete 2021 Enzalutamide treatment Ph II in 1H2021

Timing Patient Enrolment

Clinical Progress Multi-centre, open-label, randomised study

Currently undergoing Jun 2019 • Commenced Phase II clinical trials Ph II clinical trials in the 60 patients US In two treatment arms of 30 patients across 10 study centers

H2 2019 • Commenced patient enrolment 400 mg 500 mg Safety 30 patients 30 patients No Proxalutamide- (including 15 of whom have (including 15 of whom have related DLT identified in Jul 2020 • Patient enrolment completed failed Enzalutamide and 15 of failed Enzalutamide and 15 of Ph I whom have failed Abiraterone) whom have failed Abiraterone)

• All patients will be given Proxalutamide once daily in a fasted state for an initial treatment period of 6 months Efficacy • Patients will continue treatment until disease progression or intolerable AEs occur or the patient’s consent is withdrawn Data showed that • A post-treatment period of 4 weeks will follow and the study will conclude with an end-of-study visit Proxalutamide is well tolerated up to 600 mg • Disease progression is assessed by 3 methods over the duration of the study: PSA progression measured monthly, radiographic progression by CT scan or/and bone progression by radionuclide bone scan every 12 weeks

Source: Company Prospectus

72 2 Detorsertib: Solid Tumours

 Phase I: Evaluate the safety, tolerability, pharmacokinetics and initial efficacy of GT0486 in patients with solid tumours.

DOSE ESCALATION China Drug Trials: CTR20201393

• Seven dose groups: 10, 20, 40, 60, 90, 120, All the subjects will receive long-term treatment of GT0486, and evaluate 150 mg per day； DOSE EXPANSION safety, tolerability, pharmacokinetics • Expect to enroll approximately 20 to 32 and initial efficacy, until they first patients experienced disease progression • Select one to three dose levels for intolerable AE or withdrew consent expansion • If no MTD observed, choose maximum doses in DE stage • Expect to enroll 36 patients

Trial Design: An open, dose escalation and dose expansion phase I clinical trial Inclusion Criteria: Patients with solid tumours who failed standard therapies or without standard therapies (including prostate cancer, breast cancer, liver cancer, ovarian cancer, kidney cancer and lung cancer）

• Primary Endpoints:

Assess the safety and tolerability of GT0486 in the treatment of solid tumours, and observe the DLT, the MTD

• Secondary Endpoints:

1. Observe the pharmacokinetic(PK) characteristics of single does and sequential multiple doses of GT0486 in the human body

2. Preliminarily evaluate the antitumour activity of GT0486 in patients with advanced malignant solid tumours (including ORR, DCR and rPFS)

73 3 GT1708F: Advanced Hematologic Malignancies Tumours

 Phase I: Evaluation of safety, tolerability, pharmacokinetics and initial efficacy of GT1708F in the treatment of patients with advanced hematologic malignancies tumours (including acute myeloid leukaemia, chronic myeloid leukocytes, chronic lymphocytic leukaemia and myeloproliferative syndrome)

China Drug Trials: CTR20201525 DOSE ESCALATION All the subjects will receive long-term treatment DOSE EXPANSION of GT1708F, and evaluate safety, tolerability, • Five dose groups; pharmacokinetics and initial efficacy, until they • Number of patients is expected to be 6 to 12 • Number of patients is first experienced disease progression intolerable expected to be 12 AE or withdrew consent

Trial Design: An open, dose escalation and dose expansion phase I clinical trial

Primary Endpoints: Assess the safety and tolerability of GT1708F in the treatment of advanced hematologic malignancies tumours, and observe the possible DLT, the MTD Secondary Endpoints: 1. Observe the in vivo pharmacokinetic(PK) characteristics of GT1708F 2. Preliminarily evaluate the antitumour activity of GT1708F in patients with advanced hematologic malignancies tumours

74 Appendix B Introduction to Prostate Cancer and the AR Pathway Overview of Prostate Cancer

Overview of Prostate Cancer

As one of the most common cancer types in the male population, prostate cancer begins when healthy cells in the prostate change and grow out of control, before eventually developing into a tumor

Hormone Sensitive Prostate Cancer (HSPC) Castration-Resistant Prostate Cancer (CRPC)

• Form of prostate cancer that remains • Form of advanced prostate cancer that has responsive to testosterone suppression progressed despite treatments to lower

Type therapy testosterone to castration levels

Standard of Care Standard of Care

• Androgen Deprivation Therapy (ADT) has been • AR antagonists is the typical treatment

Key Risk Factors the traditional backbone treatment according to CRPC AUA Guidelines metastatic - • Recent treatment trends have incorporated a • Patients can also opt for other treatments • Hereditary Breast and Ovarian greater use of AR antagonists, androgen including surgery, endocrine therapy and

Cancer (HBOC) syndrome(DNA- Non biosynthesis inhibitor or cytotoxic agents repair mutations to the BRCA1 chemotherapy and/or BRCA2 genes) • Genetic Changes (HPC1, HPC2, Standard of Care Standard of Care HPCX, CAPB, ATM, and FANCA) • Depending on the severity and stage, patients • Family History • Combo therapies combining ADT with AR antagonists, androgen biosynthesis inhibitor or are recommended with AR antagonists, • Agent Orange Exposure androgen biosynthesis inhibitors and/or Metastatic cytotoxic agents is the most common form of chemotherapy • Eating Habits treatment

Source：Frost & Sullivan Report, Prime Oncology, Uro Today 76 Overview of Prostate Cancer (cont'd)

Recommended Treatment Guideline for CRPC in China

Historically, CRPC patients have had poor survival rates due to the shortage of effective treatments in China. 2nd generation AR antagonists including Proxalutamide and Enzalutamide have the potential to overhaul current CRPC treatment plans and efficacy

Patients often develop resistance to ADT over time, by which the cancer continues to progress despite suppressing androgen to castration levels

Hormone Sensitive Prostate Castration Sensitive Prostate Metastatic Castration Resistant Prostate Cancer Cancer (HSPC) Cancer (CRPC) (mCRPC)

Androgen deprivation therapy (ADT) 1st gen AR antagonists Androgen biosynthesis inhibitors (i.e. Flutamide, Bicalutamide) (i.e. Abiraterone + Prednisone)

Chemotherapy (i.e. Docetaxel / Cabazitaxel + Prednisone)

AR antagonists are expected to change the treatment landscape of nd CRPC in China given its superior effectiveness (PFS) 2 gen AR antagonists (i.e. Enzalutamide, Proxalutamide)

Source：Frost & Sullivan Report, NCBI, Uro Today 77 Overview of Prostate Cancer (cont'd)

Recommended Treatment Guideline for CRPC in the US

Comparatively, 2nd generation AR antagonists have been part of the standard US CRPC treatment for a longer period of time, in addition to androgen biosynthesis inhibitors, chemotherapies and immunotherapies

Patients often develop resistance to ADT over time, by which the cancer continues to progress despite suppressing androgen to castration levels

Hormone Sensitive Prostate Castration Resistant Prostate Metastatic Castration Resistant Prostate Cancer Cancer (HSPC) Cancer (CRPC) (mCRPC)

Androgen deprivation therapy (ADT) 2nd gen AR antagonists Androgen biosynthesis inhibitors (i.e. Apalutamide, Enzalutamide) (i.e. Abiraterone + Prednisone)

2nd gen AR antagonists (i.e. Enzalutamide, Proxalutamide)

Chemotherapy (i.e. Docetaxel / Cabazitaxel + Prednisone)

Immunotherapy (i.e. Sipuleucel-T)

Source：Frost & Sullivan Report, NCBI, Uro Today 78 Introduction to the Androgen Receptor Signaling Pathway

Anterior pituitary • The androgen receptor (AR) belongs to the steroid hormone group of nuclear receptors. The Androgens AR is a ligand-dependent transcription factor including androstenedione that controls the expression of specific genes

Testes Adrenal gland • The prostate is an androgen-dependent organ, and the androgen receptor (AR), which execute androgen hormones are the key regulator and driver of PCa and CRPC development Androgen responsive cell

Androgens Alternative Ligands • AR inhibitor inhibits androgen binding to its AR signaling receptor, androgen receptor nuclear inhibitor translocation, and subsequent interaction with DNA AR AR AR HSP HSP HSP • Therefore, HSPs (Heat shock proteins) represent ideal therapeutic targets in case of castration- resistant prostate cancer (CRPC) where the AR pathway is persistently active AR AR

Androgen responsive gene

Source: Frost & Sullivan analysis, National Center for Biotechnology Information 79