Hangzhou, China, July 17th, 2023 – Hangzhou Qihan Biotech Co., Ltd. ("Qihan" or "Qihan Biotech" or "the Company"), an industry leader in applying multiplexable genome editing technology to cell therapies and organ transplantation, announced today the appointment of Mr. Naxin Yao, as an independent director to its Board of Directors. Mr. Yao is a highly accomplished and respected business leader with extensive experience in corporate management, strategic planning, and global vision.

Previously, Mr. Yao Naxin served as the first General Manager of Alibaba USA Corporation. In 2002, Mr. Yao returned to China and founded Focused Photonics (Hangzhou) Co., Ltd, a Chinese high-tech platform-based enterprise specializing in high-end analytical instruments as its core business, successfully went public (300203.SZ) in 2011. In 2012, with several returned overseas entrepreneurs and professional investors, Mr. Yao co-founded Haibang Venture, a VC/PE firm focusing on life, health, and innovative technologies. It was China’s first venture capital fund to encourage and support young overseas returnees in entrepreneurship. In 2015, Mr. Yao co-founded New Horizon Health, a pioneer and market leader in China's cancer screening market for early detection of high-incidence cancers, which later became the “first cancer screening stock in China” in 2021. (06606.H.K.)

Mr. Yao completed his B.S. in Cell Biology and Genetic Engineering from Peking University, his M.S. in Molecular Biology from UC Berkeley, and his master’s degree in management from Stanford Graduate School of Business.

"We warmly welcome Mr. Yao to join the Board of Directors of Qihan. Mr. Yao is an accomplished entrepreneur with outstanding achievements," said Dr. Luhan Yang, co-founder and CEO of the Company. "Mr. Yao's outstanding global perspective and strategic planning will assist Qihan in its future success in developing cell therapy products that benefit patients, making Qihan a benchmark enterprise in the biotech industry."

"I am honored to join the Board of Directors of Qihan Biotech and be part of a bright company driven by technology and innovation. With an independent research and development platform, it can inspire more young people to engage in the field of innovative science and medicine. I believe that young scientists can showcase their talents to their full potential in Qihan and create products that cure diseases and save lives," said Mr. Yao.

About Qihan Biotech

Qihan Biotech is a biotech company applying genome-editing technology to develop novel cell therapies and organs for transplantation. The company's mission is to use high-throughput, multiplexable genome editing combined with expertise in transplantation immunology to create immunologically privileged allogeneic cells and xenogeneic organs for use as therapies to treat cancer, organ failure, and other complex medical conditions. With a vision to create a world in which cell and organ therapies are universally available to patients, Qihan Biotech has raised two rounds of financing with multiple products at different stages of development, including QN-019a, which has already received the implied licensing of the China NMPA for treating CD19-positive relapsed/refractory aggressive B-cell non-Hodgkin lymphoma. Qihan's deep scientific experience and technology advancements have enabled the company to create cutting-edge cell therapy products. Qihan Biotech is headquartered in Hangzhou, China. For more information, please visit the company's website at www.qihanbio.com.

Forward-looking Statements

This release contains statements including, but not limited to, Qihan’s research development and/or relevant programs, its past, ongoing, and planned research studies, and the potential of Qihan’s research candidate. These and any other statements in this release are based on Qihan management's current expectations of future events and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such statements. These risks and uncertainties include, but are not limited to, the risk that Qihan’s research program may not warrant further development, the risk that results observed in prior studies of Qihan’s research candidates will not be observed in ongoing or future studies involving these candidates, the risk of a delay or difficulties in the developing or transforming of Qihan’s research candidates, the risk that Qihan may cease or delay the research development of any of its candidates for a variety of reasons. Qihan is providing the information in this release as of this date and does not undertake any obligation to update any statements contained in this release as a result of new information, future events, or otherwise. Information concerning therapies and related products contained herein is not intended as medical advice.

Media Contacts:

Mengjie Xu

Qihan Biotech Public Relations

Tel: +86 0571-83500380

Fax: +86 0571-83500370

media@qihanbio.com

Source: Hangzhou Qihan Biotech Co., Ltd.