GNI : First Subject Enrolled for Phase II Clinical Trial of F573 for Injection

March 28, 2023

Company Name: Representative:

GNI Group Ltd.

Director, Representative Executive Officer,

President and CEO

Ying Luo, PhD

(Security Code: 2160, TSE Growth)Contact Person:

Director, Investor Relations

Akihiro Nakano

(TEL. [phone])

First Subject Enrolled for Phase II Clinical Trial of F573

Beijing Continent Pharmaceutical Co., Ltd. ("Continent"), one of the main consolidated subsidiaries of GNI Group Ltd. ("the Company"), announced that it had enrolled on March 27, 2023 the first subject of Phase II clinical trial of F573.

F573 is a new, original chemical drug independently developed by Continent. As the Company has been disclosing in various occasions such as Tanshin, Continent has been working on its clinical trial as another pillar following its main product ETUARY® and F351, on which Continent is undergoing a separate phase III clinical trial.

There is little impact from this event to the Company's financial figures.

For more details, please refer to the article dated March 27, 2023 on the Continent's website below.https://www.bjcontinent.com/en/news

About GNI Group, Inc.

GNI Group is a global healthcare company listed on the Growth Board of the Tokyo Stock Exchange and engaged in drug discovery, pharmaceutical development, biomaterial development, clinical studies, manufacturing, and sales in both the United States and China. For more information, please visit our website below:https://www.gnipharma.com/

This document is a press release material created purely for the purpose of publicly disclosing Continent's notice on their website and NOT for the purpose of soliciting investment either in Japan or overseas.

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