Taipei, Taiwan/ January 21st, 2020

Allgenesis Biotherapeutics, a clinical stage biopharmaceutical company focused on research and development of novel medicines for the treatment of eye diseases, announced that the final data analysis from its POC Phase 2a study of AG-86893 in patients with Pterygium reaffirmed the safety, tolerability, and signs of efficacy from its early topline results released in October 2019 (please see previous press release: here)

“Analysis from our final data base lock came in as expected and confirms our initial findings”, said Dr. Cherukury, the CEO of Allgenesis. “We are planning to move forward into a larger patient population for a Phase 2b trial with the lower dose treatment group, which showed excellent safety, tolerability and signs of efficacy, but with minimal adverse effects that were similar to the vehicle group”, added Dr. Cherukury.

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

Final data will be made available to potential investors and out-licensing partners pending the execution of a CDA agreement. For further details, please contact Jack Chang at jack.chang@allgenesis.com or Loris Wu at loris.wu@allgenesis.com.

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. 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*) completed 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.