Taipei, Taiwan/ October 18th, 2019

Allgenesis Biotherapeutics, a clinical stage biopharmaceutical company focused on research and development of novel medicines for the treatment of eye diseases, today announced that the early topline results showed promising safety, tolerability, and signs of efficacy from its ongoing SURPH Phase 2a Study of AG-86893 in patients with Pterygium.

“We saw excellent safety, tolerability and signs of efficacy in our lower dose treatment group, with minimal adverse effects that were similar to the vehicle group”, said Dr. Cherukury, the CEO of Allgenesis. “Based on our initial topline data, we are excited to have identified the right dose to move forward into a Phase 2b study with a larger patient population”

The current treatment options for patients with pterygium is limited to surgery. AG-86893 potentially offers a non-invasive alternative to surgery for the treatment of the disease.

Additional information on Allgenesis’ pipeline and the clinical trial for AG-86893 can be found at www.allgenesis.com and ClinicalTrials.gov (Identifier: NCT03533244). Topline data will be made available to potential investors and out-licensing partners pending the execution of a CDA agreement.

About Allgenesis

Allgenesis is a clinical stage biopharmaceutical company based in Taipei, Taiwan. The company is focused on research and development of novel medicines for the treatment of eye diseases. Current projects in the pipeline include AG-73305, a potential blockbuster drug for the treatment of DME, wAMD, and other retinal diseases, AG-86893 for pterygium, and AG-67650 for wAMD.

About AG-86893

AG-86893 is a topical ocular eye drop reformulation of a marketed oral drug, a multi-tyrosine kinase inhibitor targeting receptors of growth factors such as VEGF, PDGF and FGF. AG-86893 is being developed for the treatment of pterygium, following a 505(B)(2) pathway. Currently, there is no approved treatment for pterygium other than surgery. A clinical Phase 2a study (trial name: SURPH*) for AG-86893 is being conducted in pterygium patients in Australia with LPO in 4Q2019

*SURPH = StUdy of the Response to AG-86893 in patients with Pterygium Hyperemia

About AG-73305

AG-73305 is a first-in-class molecule specifically designed for the treatment of DME, wAMD, and other retinal diseases. AG-73305 is a single fusion protein that simultaneously binds to VEGF and integrins with high potency and specificity. During the discovery stage, AG-73305 demonstrated promising efficacy in protecting the blood-retina-barrier in a rabbit POC model and in a laser-induced CNV monkey model. AG-73305 has a desirable ocular pharmacokinetic profile and was well-tolerated in monkeys after intravitreal injection