Recently, the first subject was enrolled and dosed in the Phase I clinical trial in China for GB10 Injection, an innovative ophthalmic drug independently developed by Shenzhen Kexing Pharmaceutical Co., Ltd. ("Shenzhen Kexing"), a wholly-owned subsidiary of Kexing Biopharm. Designed to treat neovascular age-related macular degeneration (nAMD), the progress of GB10 marks a significant milestone in the Company's accelerating innovative drug R&D pipeline.

GB10 is a high-concentration, ophthalmic protein drug formulation independently developed by Shenzhen Kexing. It features a bispecific antibody targeting both VEGF and Ang-2. With a high concentration of 140 mg/mL, GB10 Injection allows for a smaller injection volume or higher dosage, thereby extending the dosing interval. It is expected to achieve a "once per four months" dosing schedule, significantly improving patient compliance. Preclinical data indicate international competitiveness of GB10 Injection in terms of both biological activity and in vivo efficacy. In a laser-induced choroidal neovascularization (CNV) monkey model, it demonstrated effective inhibition of pathological ocular neovascularization in the fundus.

Neovascular age-related macular degeneration (nAMD) remains a leading cause of blindness globally among individuals aged over 50. Driven by the rapid growth of the internet, increased screen time, and an aging population, the clinical demand for ophthalmic treatments is surging. Therapeutic regimens with extended dosing intervals address critical clinical pain points, such as high injection frequency and poor patient compliance.

Kexing Biopharm is simultaneously accelerating its independent R&D of dual-target antibody ophthalmic pipeline and actively introducing externally developed ophthalmic products for international markets, including Aflibercept biosimilars and Olopatadine Hydrochloride eye drops. These efforts aim to expand its global footprint and drive internationalization through continuous innovation.

Looking ahead, the Company will adhere to its philosophy of "Precise Products, Predictable Effects, Health Protection," providing high-quality and accessible treatment options to patients worldwide.