Bridge Biotherapeutics : Material Management Information related to Judgment of Investment (Bridge Biotherapeutics entered into an Option to License agreement to acquire a preclinical asset to treat fibrotic diseases including Idiopathic Pulmonary Fibrosis (IPF))

Material Management Information related to Judgment of Investment

1. Title	Bridge Biotherapeutics entered into an Option to License agreement to acquire a preclinical asset to treat fibrotic diseases including Idiopathic Pulmonary Fibrosis (IPF)
2. Details	※ Investor Notes This contract is a conditional contract which can be executed upon approval from the relevant drug regulatory authority. Recognition of profits relating to this contract will be dependent on clinical trial and regulatory drug approval results. As per the terms and conditions of this contract, this contract may be terminated in the event that research and development is suspended by a regulatory authority, if the drug fails to receive regulatory drug approval, etc. 1) Licensor CellionBioMed Inc. Nationality: Republic of Korea Date of establishment : 2018-08-13 2) Contract Summary Bridge Biotherapeutics entered into an option to license agreement to acquire a preclinical asset to treat fibrotic diseases, including Idiopathic Pulmonary Fibrosis (IPF) 3) Effective Date : 2022-03-07 4) License Details - Notable Characteristics : First-in-class candidate targeting fibrotic diseases by modulating ion-channels : Observed superior efficacy in IPF animal models and is expected to show a good safety profile supported by various experimental data. 5) Contract Period From the contract execution date to patent expiration date 6) Payment Terms (KRW) - Option : KRW 500 million - Upfront & Milestones : KRW 28.75 billion (dependent on clinical trial (approvals) and commercialization)
3. Date of Occurrence(or Date of Confirmation)	2022-03-07
4. Decision Date	2022-03-07
- Attendance of Outside Directors	Present(No.)	3
Absent(No.)	-
- Attendance of Auditors (members of Audit Committee)	-
5. Other references useful for making invest decisions
The total amount of this contract exceeds 10% of the equity capital (KRW 65,599,771,437) of Bridge Biotherapeutics. The equity capital reflects the changes in both capital and capital surplus from the 2020 consolidated financial statement. Cellionbiomed is a new drug development company focusing on the development of treatments for fibrotic disease. If there are any changes pertaining to this contract or should any disclosure obligations arise, we will disclose the relevant details promptly.
※ Title and date of other disclosure related to this one	-

【Invetstment risk factors - Options of Agreement etc.】

All payments, inclusive of the upfront payment, the option exercise fee, and milestone payments are nonrefundable and the payments terms stipulated above (6) will only be paid when pre-agreed conditions are met. The licensing agreement may be terminated dependent on clinical trial, regulatory approval, commercialization approval, and there is no obligation to provide cancellation penalties relating to the contract termination. Based on the preliminary study results, Bridge Biotherapeutics may not provide upfront & milestones payments to CellionBioMed.