Terns Pharmaceuticals and Hansoh Pharma Announce Collaboration and License Agreement for TRN-000632 in Greater China

Terns Pharmaceuticals, Inc., a global biopharmaceutical company focused on discovering and developing innovative therapies to treat liver disease and cancer, and Hansoh Pharmaceutical Group Company Limited ("Hansoh Pharma"; 3692:HK), a leading biopharmaceutical company in Asia, today announced a collaboration and license agreement for the development and commercialization of TRN-000632, an investigational small molecule allosteric inhibitor of BCR-ABL for the treatment of chronic myeloid leukemia (CML), in Greater China.

Under the terms of the agreement, Terns will receive an upfront payment and will be eligible to receive development, regulatory and commercial milestones of up to $68 million, as well as royalties from future product sales. Hansoh will receive the exclusive rights to develop and commercialize TRN-000632 in Greater China. Terns retains the right to develop and commercialize TRN-000632 in all other global markets.

"This collaboration was a natural fit for TRN-000632, bringing together Hansoh's experience as an established leader in CML treatment in China with Terns' deep expertise in novel drug discovery," said Martijn Fenaux, Ph.D., Head of Research at Terns. "While tyrosine kinase inhibitors (TKIs) have been life-changing for many patients with CML, for many, tolerability and resistance issues remain a barrier to better outcomes. Because TRN-000632 binds an allosteric pocket unique to the mutant BCR-ABL, it is highly selective to a target that is distinct from that of currently available BCR-ABL TKIs, leading to an enhanced efficacy and overcoming difficult-to-treat acquired resistance. We look forward to the partnership with Hansoh and their support of the research and development efforts for TRN-000632."

"We are excited to announce this partnership with Terns to rapidly deliver a valuable new therapy to patients in China, where CML incidence is a growing burden and resistance issues are a barrier to enduring efficacy for a significant number of patients," said Rudi Bao, M.D. Ph.D., SVP of Hansoh R&D. "We look forward to working with Terns and to advancing the development of the program as rapidly as possible."

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc. is a clinical-stage pharmaceutical company that is focused on the discovery and development of medicines for chronic liver disease and cancer. Based in China and the United States, the company is advancing a pipeline of drug candidates for the treatment of non-alcoholic steatohepatitis (NASH), primary biliary cholangitis (PBC), and cancer, across multiple modalities. Terns leverages world class expertise in disease biology, medicinal chemistry, and clinical development in order to bring promising new therapies to patients.

For more information, visit www.ternspharma.com and www.ternspharma.com.cn

About Hansoh Pharmaceutical Group Company Limited

Hansoh Pharma (3692.HK), a leading biopharmaceutical company in Asia, is committed to discovering and developing life-changing medicines to help patients conquer serious diseases and disorders. Hansoh Pharma is supported by over 9,000 dedicated employees in China and the United States.

Founded in 1995, Hansoh has fully integrated research and development, manufacturing, and commercial capabilities, supporting leading positions in oncology, central nervous system (CNS) disorders, infectious diseases, gastrointestinal disorders, diabetes, and autoimmune diseases, among others in China. With over 1,200 professionals across R&D, Hansoh has successfully developed multiple internally discovered drug candidates into NMPA-approved innovative medicines including morinidazole (???®), a third-generation nitroimidazole antibiotic; PEG-loxenatide (???®), the first once-weekly long-acting GLP-1 analogue discovered and developed in China for the treatment of diabetes; flumatinib (??®), a second-generation BCR-ABL inhibitor for frontline treatment of CML; and almonertinib (???®), a third-generation EGFR inhibitor for the treatment of NSCLC with EGFR mutations.

For more information, please visit www.hspharm.com