Shanghai - Abbisko Therapeutics Co., Ltd. ('Abbisko' hereafter) today announced the appointment of Dr. Kevin Xie as the Chief Business Officer and Head of Business Development.

Dr. Xie will report directly to Dr. Yao-Chang Xu, Chairman and CEO of Abbisko. Dr. Xie will oversee the portfolio strategy and business development at Abbisko, including product and technology collaboration, corporate mergers and acquisitions and other related activities.

'We are excited to have Dr. Xie to join us. He has over 25 years of proven track record in biopharmaceutical industry with product research and development, as well as rich business development experience with multinational pharmaceutical and biotech companies.' said Dr. Yao-Chang Xu, CEO of the Company, 'Abbisko is at a stage of rapid development. Dr. Xie's prominent leadership skill and extensive experience in business development and corporate management will strongly boost our growth.'

Prior to joining Abbisko, Dr. Xie worked in global business development and strategic planning for several multinational pharmaceutical companies, including Bayer, Boehringer Ingelheim and Baxter, as well as Vertex Pharmaceuticals, a start biotech specialized in innovative drug discovery and development. Before switching career track to business development, Dr. Xie worked at Roche R&D for CNS diseases.

Dr. Xie obtained his Master of Business Administration (MBA) degree and Ph.D. degree in Molecular Biology, both from Yale University. He also holds a Master of Science (MS) degree in Genetic Engineering from the Genetics Institute of Fudan University, and a Bachelor of Science (BS) degree in Genetics from the Biology Department of Fudan University.

'Abbisko shares many similarities with Vertex Pharmaceuticals, which I worked for 20 years ago and is now very successful. Both companies were founded by seasoned scientists who have strong drug R&D and management experience with top global pharmaceutical companies and supported by top-notch venture capitals. Their visions and business models also align extremely well. Both companies are committed to the discovery and development of first-in-class and best-in-class molecular entities, and have built impressive novel drug R&D platforms. Through my in-depth understanding of Abbisko's team and product pipelines, I firmly believe that Abbisko has the potential to become a new benchmark in biopharmaceutical industry.' Dr. Xie said, 'I am honored to join such an excellent team and have the opportunity to contribute to the company's further growth'.

About Abbisko Therapeutics

Founded in April 2016, Abbisko is an oncology focused biopharmaceutical company dedicated to discovering and developing innovative medicines for unmet medical needs in China and around the world. The Company is founded by a group of seasoned drug hunters with rich R&D and management experience in both top multinational pharmaceutical companies and Chinese industrial leaders. It is dedicated to developing immuno-oncology and target-based therapies against novel and high potential targets through the development of first-in-class or best-in-class molecular entities. The Company has built up an extensive internal discovery pipeline with over a dozen molecules encompassing targeted therapy and immuno-oncology, and several of which have entered clinical development stage.

Contact:

Tel: (0086) 021-68912098

Email: public@abbisko.com

Web: www.abbisko.com

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