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OBIGEN Pharma Biologics Board Approves Execution of Term Sheet for China Licensing of Novel Botulinum Toxin OBI-858

OBI Pharma announced on behalf of its subsidiary, OBIGEN Pharma Biologics Co., Ltd., that its Board of Directors has approved the execution of a term sheet for the China licensing of the novel botulinum toxin product OBI-858.

  1. 1. Date

2022/07/21

  1. 2. Counterparty

A pharmaceutical company based in China.

  1. 3, Relationship with the Company

None.

  1. 4. Term of the Agreement

Not applicable.

  1. 5. Main Content

The Board of Directors of OBIGEN Pharma Biologics Co., Ltd. resolved today to approve the execution of a Term Sheet with a Chinese pharmaceutical company regarding the licensing rights for the novel botulinum toxin drug product OBI-858 in Greater China, including Mainland China, Hong Kong, and Macau. The Board also authorized the Chairman to conduct subsequent negotiations and execute matters related to the Term Sheet. The parties have agreed to enter into a definitive licensing agreement within a specified period following the completion of due diligence or the receipt of regulatory approval, whichever occurs later. In accordance with the confidentiality obligations agreed upon by both parties, the detailed terms and conditions of the Term Sheet will not be disclosed at this time.

  1. 6. Restrictive Covenants

Not disclosed pursuant to the confidentiality agreement between the parties.

  1. 7. Commitments

Not disclosed pursuant to the confidentiality agreement between the parties.

  1. 8. Other Significant Agreements

Not disclosed pursuant to the confidentiality agreement between the parties.

  1. 9. Impact on the Company's Finance and Business

If the licensing collaboration progresses successfully, clinical trials are expected to be conducted concurrently in Taiwan and China. This may accelerate the development timeline of OBI-858 and is expected to have a positive impact on the financial position and business operations of OBI Pharma Biologics.

  1. 10. Purpose

To negotiate a regional co-development program for the novel botulinum toxin drug product OBI-858 with a potential strategic partner and jointly advance clinical development activities in order to accelerate commercialization.

  1. 11. Other Matters Requiring Disclosure

The development of new drugs requires substantial investment of time and capital and does not guarantee success. These uncertainties may expose investors to investment risks. Investors are advised to carefully evaluate such risks and exercise prudent judgment when making investment decisions.