The "Phase I/II Study to Evaluate the Safety, Tolerability, Pharmacokinetics, and Antitumor Activity of ESG401 in Patients with Locally Advanced/Metastatic Solid Tumors" (Study Number: ESG401-101), sponsored by Shanghai Escugen Biotechnology Co., Ltd. ("Escugen"), has been successfully launched and is currently recruiting participants. The study has received approval from the National Medical Products Administration (Clinical Trial Notification Number: 2021LP01074) and will recruit participants at multiple top-tier hospitals across the country.

Shanghai, Hangzhou, February 28, 2022 — Hangzhou Sumgen Biotech Co., Ltd. ("Sumgen") and Shanghai Escugen Biotechnology Co., Ltd. ("Escugen") have reached a strategic cooperation agreement to jointly develop a new generation of antibody-drug conjugates (ADCs).