June 22^nd, 2020

Allgenesis Biotherapeutics Inc., a Taiwan based specialty pharmaceutical company focused on developing novel ophthalmologic drugs, announced that it received patents granted for AG-86893 in Japan and Korea as an ophthalmic suspension for pterygium treatment. 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.

“Allgenesis continues to explore treatments of other ocular surface diseases using AG‑86893 in either micro- or nano-suspension for other 505(b)2 projects in its development pipeline,” said Dr. Madhu Cherukury, Chief Executive Officer of Allgenesis Biotherapeutics Inc. “With the recent completion of our Phase 2(a) pterygium clinical trial, we are now ready to go into our next stage of development. Having patent coverage in two more major market areas on top of Australia and US, we are now more engaged to look for partners to bring this drug to the market”

For out-licensing and co-development for Allgenesis projects, please see our website (www.allgenesis.com) or send emails to info@allgenesis.com or jack.chang@allgenesis.com for more information.

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-80308 for Dry Eye Disease.

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) was completed in 4Q2019.