^{Hangzhou, China, May 9th, 2024} – 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. Yingyong Xu as the Chief Medical Officer.

Mr. Yingyong Xu brings over two decades of specialized expertise in clinical treatment and innovative drug development in hematology and oncology. He has participated in the development of new drugs for chronic myeloid leukemia, lymphoma, myeloma, myelodysplastic syndrome, lung cancer, pancreatic cancer, and more. Before joining Qihan Biotech, Mr. Xu served as Vice President of Clinical at Zai lab, where he led product development initiatives, focusing on hematologic malignancies and lung cancer for over four years. Prior to Zai lab, he worked at Bristol Myers Squibb and Celgene and concentrated his efforts on clinical product development in hematologic malignancies and pancreatic cancer. Before transitioning to the pharmaceutical industry in 2011, Mr. Xu was a pediatric hematologist-oncologist specializing in allogeneic hematopoietic stem cell transplantation.

Mr. Xu earned his master's degree from Shanghai Jiao Tong University School of Medicine, where he researched allogeneic hematopoietic stem cell transplantation for refractory childhood leukemia. He is currently pursuing a Doctor of Management degree at Manchester Business School, University of Manchester, focusing his research on the ecosystem of drug innovation.

Dr. Luhan Yang, Founder and CEO of Qihan Biotech, stated, "We are delighted to welcome Mr. Yingyong Xu to Qihan. His extensive experience in clinical translation and corporate management will undoubtedly bolster our clinical operations and drive the development of high-quality cell therapy drugs that can significantly benefit patients."

"I am pleased to join Qihan and have great confidence in its platform and team. My background as a physician motivates me to contribute to cell therapy. Under the leadership of Dr. Luhan Yang, the Qihan team will bring revolutionary treatment modalities to patients", Mr. Xu said.

About Qihan Biotech

Qihan Biotech is a biotechnology 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, autoimmune diseases, 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 financing rounds. It has multiple products at different stages of development, including QN-019a, which had already received IND approval from China NMPA to treat 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:

Mengjie Xu

Qihan Biotech Public Relations

Tel: +86 0571-83500380

Fax: +86 0571-83500370

media@qihanbio.com

Source: Hangzhou Qihan Biotech Co., Ltd.