AnHeart Therapeutics Announces License Agreement with NewG Lab for Taletrectinib Rights in Korea

Total of $7 million in milestone payments and royalty payments at double digit rates

Hangzhou, China/New York, NY – July 15, 2020 – AnHeart Therapeutics, Co., Ltd. (“AnHeart”), a clinical stage oncology company focused on underserved patients in global markets, today announced that it has, through its subsidiary AnHeart Therapeutics Inc., outlicensed clinical development and commercialization rights to its next-generation ROS1/NTRK inhibitor, taletrectinib, to NewG Lab Co., Ltd.  in the Republic of Korea (Korea) market.

As part of the deal, AnHeart will receive $7 million in total milestone payments and royalty payments at double digit rates. NewG Lab will be responsible for development, market authorization and commercialization activities for taletrectinib in Korea. AnHeart will allow NewG Lab to join its Phase 2 multi-regional clinical trial (MRCT) for non-small cell lung cancer (NSCLC) with ROS1/NTRK mutations. Taletrectinib was initially developed by Daiichi Sankyo Company, Limited and was later acquired by AnHeart. Taletrectinib has already been evaluated for safety and efficacy in two Phase 1 clinical trials in Japan and the U.S. and is currently in Phase 2 trials (NCT04395677).

“We are extremely pleased to be collaborating with NewG Lab to develop and launch taletrectinib in Korea. This deal further strengthens our balance sheet and supports the global development of taletrectinib for first-and second-line NSCLC patients with ROS1/NTRK mutations,” said Dr. Junyuan (Jerry) Wang, Chief Executive Officer and Co-Founder of AnHeart. “We will remain opportunistic in pursuing other regional partnerships as we work to further develop taletrectinib and expand our pipeline.”

About Taletrectinib:

The lead clinical candidate taletrectinib is a next-generation novel, potent, highly selective ROS1 and NTRK inhibitor that can cross the blood-brain barrier. AnHeart licensed the global rights to taletrectinib from Daiichi Sankyo Company Limited (“DS”). Two Phase 1 studies in the U.S. and Japan have been completed with promising safety and efficacy data. Taletrectinib inhibits both ROS1 WT and major crizotinib-resistant mutations, including G2032R. There is no effective drug approved against resistant mutations like G2032R, which may lead to rapid penetration in major global markets.

About AnHeart:

AnHeart Therapeutics Co., Ltd. (AnHeart”) is a clinical stage biopharmaceutical company developing novel oncology therapies. AnHeart is headquartered in Hangzhou, China with offices in Beijing, Shanghai and New York. Formed in November 2018, AnHeart is currently managed by biopharmaceuticals industry veterans (Pfizer, BMS, Merck, J&J, Novartis) and financially backed by a venture capital fund.

Forward Looking Statements

Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry’s actual results, levels of activity, performance, or achievements to be materially different from those anticipated by such statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “intends,” or “continue,” or the negative of these terms or other comparable terminology. Forward-looking statements contained in this presentation include, but are not limited to, (i) statements regarding the timing of anticipated clinical trials for our product candidates and our research and development programs; (ii) the timing of receipt of clinical data for our product candidates; (iii) our expectations regarding the potential safety, efficacy, or clinical utility of our product candidates; (iv) the size of patient populations targeted by our product candidates and market adoption of our product candidates by physicians and patients; and (v) the timing or likelihood of regulatory filings and approvals. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. This Presentation discusses product candidates that are under clinical study and which have not yet been approved for marketing by the U.S. Food and Drug Administration or regulatory agencies in other countries. No representation is made as to the safety or effectiveness of these product candidates for the use for which such product candidates are being studied.

AnHeart Contact:

Akira Jing Liu, MD

Director of Business Development

(86) 137-0181-9470 (c)

ajliu@anhearttherapeutics.com

Investor Relations Contact:

Irina Koffler

Managing Director

LifeSci Advisors, LLC

646-970-4681 (w)

917-734-7387 (c)

ikoffler@lifesciadvisors.com

Info Source:https://www.globenewswire.com/news-release/2020/07/15/2062496/0/en/AnHeart-Therapeutics-Announces-License-Agreement-with-NewG-Lab-for-Taletrectinib-Rights-in-Korea.html

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