San Diego, Shanghai and Taipei, June 2021 -- Inmagene Biopharmaceuticals (“Inmagene”) and TWi Biotechnology, Inc. ("TWIB") today announce a strategic partnership to co-develop TWIB’s AC-1101 for the potential treatment of multiple dermatological diseases. AC-1101 is a novel topical drug candidate targeting Janus Kinases (“JAK”).

Under the terms of the partnership, TWIB has granted Inmagene the co-development rights to conduct a global phase Ib study with AC-1101 in one selected dermatology indication. Subject to predefined conditions, Inmagene will have the exclusive right to further develop, manufacture and commercialize AC-1101 in mainland China and South Korea. Inmagene also has the option to expand the territory to worldwide (excluding Taiwan) when certain pre-agreed conditions are met. TWIB will be entitled to receive up to US$ 126million in milestone-based payments and up to US$ 295 million in sales milestones, as well as up to double-digit royalties upon commercialization.

Jessica Wu, Chairman of TWIB, said, "This partnership will enable Inmagene and TWIB to investigate the immunological disease applications of AC-1101 together. We believe that AC-1101 has large potentials in multiple dermatological immunological diseases.  We are pleased to pursue these opportunities by partnering with Inmagene, which has a world-class clinical development team."

“Enabling Inmagene to rapidly expand in dermatology therapeutic area, AC-1101 is an excellent addition to Inmagene’s pipeline,” added Jonathan Wang, Inmagene’s Chairman and CEO. “Leveraging Inmagene’s global drug development resources, we will fully explore the drug candidate’s potentials for treating patients worldwide.  We are pleased to form the partnership with TWIB, a highly innovative company."

About Inmagene

Inmagene, with wholly owned subsidiaries in San Diego, Shanghai, Hangzhou and Wuhan, is a leading biotech company focused on immunology-related therapeutic areas. Believing in "borderless innovation", the Inmagene team integrates efficient resources worldwide to develop drugs for global patients.

The company is building a robust pipeline of nearly 20 drug candidates. Izokibep (IMG-020), Inmagene’s most advanced drug candidate, is about to enter the global phase 2 or 3 trials for multiple indications.

Inmagene has formed strategic partnerships with Affibody AB and HUTCHMED (Nasdaq/AIM: HCM) to develop and commercialize highly innovative drug candidates.  Inmagene is operating 12 “Smart Innovation” programs to create and develop novel drug candidates for the global market.  It also in-licenses products for the Asia markets and, together with its partners, carries out global development activities, including multi-center clinical trials.

For additional information, please visit www.inmagenebio.com.

About TWIB

TWi Biotechnology, Inc. is a clinical development stage company based in Taipei, Taiwan, which specializes in the development of new drugs for rare diseases and inflammatory dermatological disease with the strategy aiming to reposition drug molecules already in clinical use to meet the unmet needs for good or emerging medication, especially targeting at rare and severe diseases for which no drug is available. Its goal is to innovate efficiently and provide safe and effective new drugs to patients in urgent needs worldwide.

For additional information, please visit www.twibiotech.com.