Shanghai, China, July 31, 2024- Shanghai Novamab Biopharmaceuticals Co., Ltd. (the "Company" or  "Novamab"), a biotechnology company dedicated to the research and development of innovative nanobody drugs, officially announced the completion of its Series B2 financing of nearly 200 millionRMB, which was led by Qiming Venture Capital, with participation of Huangpu Biopharmaceutical Fund and Jiuyu Investment. The old shareholder Shengdi Investment continues to increase its investment. Novamab also announced that theB round of financing has successfully come to an end, with a total financing of nearly 300 million RMB.  Previously, Novamab had completed the B1 round of financing led by Shengdi Investment and participated by Guosheng Capital in December 2023. This round of financing will continue to be provided by Taiyi Capital and Bank of Communications International as financial advisors. The funds raised in this round will primarily be used to advance the clinical Phase II studies of two inhaled antibody drugs (LQ036, LQ043H) independently developed based on the 'Inhaled Biological Drug R&D Platform', while also enriching the company's pipeline in the field of autoimmune diseases, enhancing team capabilities, and further supplementing the company's working capital.

Founded in 2017, Novamab focuses on the research and development of inhaled nanobody drugs. It has established a comprehensive R&D, CMC, and pilot production system, and built five innovative technology platforms. It has pioneered the research of rapidly effective, highly specific inhaled nanobodies and is currently the only enterprise in China with the capability for full-process development of inhaled nanobodies.

Relying on its own technology platform, Novamab has developed a series of innovative biologics with independent intellectual property rights. Among them, LQ036, the world's first inhaled nanobody for asthma, has completed phase I trials in China and Australia, and is currently under phase II investigation in China. Phase I trials have shown excellent drug safety and biomarker efficacy. The phase Ia trial of LQ043H in China has also been completed, demonstrating excellent safety and drug tolerance. Phase Ib/II clinical trials of LQ043H will be accelerated based on the funding plan from this round of financing.

Dr. Yakun Wan, founder of Novamab, said, " We sincerely welcome the new shareholders, Qiming Venture Capital, Huangpu Biomedical Fund, and Jiuyu Investment, and would like to express our sincere gratitude to all the old shareholders for their long term support and trust to the company and the team. This round of financing will be effectively utilized to advance the core inhaled nanobody projects core project to reach the clinical milestones and comprehensively verify the efficacy and safety of the products. The company remains steadfast in its mission of 'Camelid antibodies, opening up a healthy future,' focusing on the nanobody track and dedicated to addressing key clinical issues. We will continue to rely on our core technology platform to continuously introduce innovative drugs with differentiation and competitiveness to meet unmet clinical needs and benefit more patients.”

About Qiming Venture Partners

Qiming Venture Partners was established in 2006. Currently, Qiming Venture Partners manages 11 US dollar funds and 7 CNY funds, with the total amount of funds raised and managed reaching 9.5 billion US dollars. Since its inception, it has focused on investing in outstanding enterprises in the early and growth stages of the Technology and Consumer (T&C), Healthcare, and other related industries.

To date, Qiming Venture Partners has invested in more than 530 rapidly growing innovative companies, more than 200 of which have been listed on exchanges such as the New York Stock Exchange, NASDAQ, Hong Kong Stock Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or have exited through mergers and acquisitions. Over 70 companies have become recognized unicorn or super-unicorn enterprises in their respective industries.

About GZHP Biomedical Fund Management

GZHP Biomedical Fund Management is a private equity investment management institution focused on the healthcare sector. The main sponsors include Guangzhou Development District Holding Group, Force Capital, BeiGene, and Guojv Venture Capital. The goal of its funds is to collaborate with multiple parties to launch innovative medical products and services aimed at overcoming diseases and improving human health and well-being. Relying on the R&D advantages of BeiGene, Huangpu Pharmaceutical is based in the Guangdong-Hong Kong-Macao Greater Bay Area, undertaking the transformation and implementation of innovative drug/device R&D projects from China and around the world. The fund focuses on investing in the fields of life sciences, innovative drugs, new medical devices, and synthetic biology.

About Jiangsu Jiuyu Investment Management

Jiangsu Jiuyu Investment Management Co., Ltd. was established on March 25, 2014, with a registered capital of 10 million CNY. Adhering to the philosophy of "assessing the situation, focusing on professionalism, and growing together," Jiuyu Investment is committed to becoming a private venture capital institution with an entrepreneurial mindset. In its early stage, relying on the resources of listed companies and investment experience in urban infrastructure construction and cultural tourism projects, as well as financing channels, it demonstrated its social value in the process of urbanization and cultural tourism development in China. Since 2018, Jiuyu has gradually transformed into a specialized investment, seeking enterprises with investment value to progress together. Today, Jiuyu has developed into a comprehensive financial company specializing in equity investment, securities investment, mergers and acquisitions, and financial advisory services.

About Shengdi Investment

Shengdi Investment is a professional equity investment institution under Jiangsu Hengrui Pharmaceutical Co., Ltd. It was registered and established on December 6, 2021 in Pudong, Shanghai with a registered capital of 30 million CNY. Shengdi Investment adheres to the concepts of professionalism, focus, innovation, and growth, and conducts equity investment business around the pharmaceutical and health industry. It focuses on innovative research and clinical needs in the field of biomedicine, adheres to market-oriented and differentiated investment strategies, and is committed to building a circular and win-win biopharmaceutical ecosystem and a leading domestic biopharmaceutical innovation investment platform.