Adlai Nortye Biopharma Co., Ltd. (NEEQ: 870946) ("Adlai Nortye" or "the Company"), a biopharmaceutical company dedicated to discovery and commercialization of new and effective drugs, announced today that it had entered into a Global Licensing Agreement ("the Agreement") with Eisai Co., Ltd. ("Eisai"), a global pharmaceutical company with a focus on serving patients with unmet medical needs. Under the terms of the Agreement, Adlai Nortye will have exclusive worldwide research, development, manufacture and commercialization rights to E7046, excluding Japan and part of Asia other than Mainland China ("Territory").

E7046 is an investigational, oral EP4 antagonist (potentially first in class) with high activity and high selectivity. Based on preliminary results, it is well tolerated in patients with solid tumors. Phase 1b combination studies with radiotherapy and chemoradiotherapy are in progress.

"With its proposed mechanism of action and impressive preclinical results, we believe that E7046 will become a key component in furthering development of our oncology pipeline," said Dr. Ruirong Yuan, CMO and President of Adlai Nortye. "In preclinical studies, E7046 combined with radiotherapy, chemoradiotherapy and with immune checkpoint inhibitors demonstrated antitumor activity in different malignancies, including colon rectal cancer, lung cancer and some PD-1 resistant tumor models. We believe that E7046 has great potential for future clinical application in cancer treatment."

"In recent years, immuno-oncology has become an important modality for the development of new cancer drugs worldwide. E7046 is believed to have a mechanism in regulating the tumor microenvironment and we hope that this different approach to the immunology of cancer will become an important contribution in the field of immuno-oncology. We hope that future global clinical studies conducted on E7046 will be an important step to potentially being able to offer new treatment options for cancer patients in the future," said Dr. Alton Kremer, Chief Clinical Officer and Chief Medical Officer in the Eisai Oncology Business Group.

About E7046

E7046 is an investigational, potentially first in class oral EP4 antagonist that is believed to prevent the binding of prostaglandin E2 to its EP4 to change the immunosuppressive character of the tumor microenvironment. Based on preliminary results, it is well tolerated in patients with solid tumors. A Phase 1b combination study with radiotherapy and chemoradiotherapy is ongoing .

About Eisai

Eisai is a global pharmaceutical company addressing unmet medical needs. Eisai is committed to making contributions to better healthcare for patients and their families around the world through its business activities. For further information about Eisai, please visit: http://www.eisai.com

About Adlai Nortye

Adlai Nortye is a science-led biopharmaceutical company dedicated to discovering, developing and commercializing new drugs. We focus on discovering and developing important new treatments for cancer and metabolic diseases. Our mission is to improve patient lives by identifying and acquiring differentiated innovative medicines that help people live better, live longer. Through close collaborations with global partners, we have successfully positioned ourselves in the fields of immuno-oncology and metabolic diseases and have several programs ongoing from early pre-clinical to phase 3 ready.