Ascletis Pharma : ANNOUNCEMENT - INSIDE INFORMATION - ASC09/RITONAVIR CLINICAL TRIAL FOR NEW CORONAVIRUS INFECTION INITIATED ACROSS ZHEJIANG PROVINCE AFTER WUHAN

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Ascletis Pharma Inc.

歌禮製藥有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1672)

ANNOUNCEMENT

INSIDE INFORMATION

ASC09/RITONAVIR CLINICAL TRIAL FOR NEW CORONAVIRUS INFECTION

INITIATED ACROSS ZHEJIANG PROVINCE AFTER WUHAN

This announcement is made by Ascletis Pharma Inc. (the "Company") pursuant to Rule 13.09 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The investigator-initiated multicenter clinical trial, led by Dr. Yunqing Qiu (裘雲慶) team, on "A Randomized, Open-label, Multicenter Clinical Trial Evaluating and Comparing the Safety and Efficiency of ASC09/Ritonavir and Lopinavir/Ritonavir for Confirmed Cases of Pneumonia Caused by New Coronavirus Infection", has obtained approval from the First Affiliated Hospital Ethics Committee, Zhejiang University School of Medicine. The study initiation meeting, joined by investigators across Zhejiang Province, was held yesterday. Dr. Qiu is the Executive Vice President of the First Affiliated Hospital, the Deputy Director of National Key Laboratory on Infectious Disease Diagnosis and Treatment, the Director of the Infectious Diseases Medical Committee of Chinese Medical Doctor Association and the Director of the Key Laboratory of Clinical Research and Evaluation for Drugs of Zhejiang. The Company will inform the public of the progress of such clinical trials in a timely manner.

The Wuhan study initiation meeting for ASC09/Ritonavir and Ritonavir clinical trial, led by Dr. Qin Ning (寧琴) team, was successfully held yesterday.

To the best knowledge of the Company, as of the date of this announcement, ASC09/Ritonavir is the only drug candidate whose trials are being conducted in both Wuhan and Zhejiang, which are the worst impacted areas in China by the new coronavirus.

Currently the Company has sufficient manufacturing capacity for both ASC09/Ritonavir and Ritonavir.

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Capitalized terms used but not otherwise defined herein shall have the same meaning as that ascribed to them in the announcements of the Company dated February 3, 2020 and February 5, 2020, respectively.

Cautionary Statement required by Rule 18A.05 of the Listing Rules: We cannot guarantee that we will be able to obtain approval for, or ultimately market, Ritonavir and ASC09 fixed-dosecombination, successfully.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Ascletis Pharma Inc.

歌禮製藥有限公司

Jinzi Jason WU

Chairman

Hangzhou, the People's Republic of China,

February 7, 2020

As at the date of this announcement, the Board of Directors of the Company comprises Dr. Jinzi Jason WU and Mrs. Judy Hejingdao WU, as executive Directors; Dr. Ru Rong JI, Dr. Yizhen WEI, Mr. Jiong GU and Ms. Lin HUA, as independent non-executive Directors.

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