ALSP Orchid Acquisition Corporation I Announces Filing of Registration Statement

ALSP Orchid Acquisition Corporation I (the "Company" or "ALSP Orchid"), today announced that it has filed a registration statement on Form S-1 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") related to the proposed initial public offering of 15,000,000 units at a price of $10.00 per unit. Each unit will consist of one Class A ordinary share and one-half of one redeemable warrant to purchase one Class A ordinary share. ALSP Orchid has applied to have its units approved for listing on The Nasdaq Global Market.

ALSP Orchid is a newly organized blank check company formed by Accelerator Life Science Partners, for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Stifel, Nicolaus & Company, Incorporated and Nomura Securities International, Inc. are serving as joint book-running managers for the proposed offering. The offering is being made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering may be obtained from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected], or from Nomura Securities International, Inc., Attention: Equity Syndicate Department, Worldwide Plaza, 309 West 49th Street, New York, New York 10019-7316, or by telephone at 212-667-9000, or by email at [email protected].

The Registration Statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the Registration Statement becomes effective. This press release will not constitute an offer to sell or a solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Cautionary Note Concerning Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements," including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of ALSP Orchid, including those set forth in the Risk Factors section of the Registration Statement and preliminary prospectus for ALSP Orchid's offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. ALSP Orchid undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.