SinoMab BioScience Limited announced that, as of 31 August 2022, 22 subjects have been enrolled in the Phase I First-In-Human (FIH) clinical trial in the U.S. The subjects are currently in normal condition. The phase I study is a Single Ascending Dose (SAD) and Multiple Ascending Doses (MAD) to investigate the safety, tolerability, and pharmacokinetics of SM17 in healthy subjects. The Investigational New Drug (``IND'') application, for the treatment of patients with asthma, was approved by the U.S. Food and Drug Administration in March 2022.

With respect to the clinical progress of other products of the Group, the Company has recently achieved considerable progress. The Board is confident in the future development of the Company and confirmed that the Group's business operation remains normal. For the Company's product SM03 (Suciraslimab), the preliminary result for primary endpoint of Phase III study at week 24 is expected in the third quarter of 2022 and the readout of the final study result for both safety and efficacy at week 52 is expected in the first quarter of 2023.

The Company plans to submit the New Drug Application to the National Medical Products Administration (the ``NMPA'') of the People's Republic of China in the first half of 2023 and expects to commercialise Suciraslimab in the second half of 2023 at the earliest.