The board of Directors of Innovent Biologics, Inc. announced that with effect from May 3, 2024, Mr. Shuyun Chen ("Mr. Chen") has been appointed as an independent non-executive Director and a member of each of the remuneration committee of the Board (the "Remuneration Committee"), the strategy committee of the Board (the "Strategy Committee") and the nomination committee of the Board (the "Nomination Committee"), and Ms. Qian Zhang ("Ms. Zhang") has been appointed as an executive Director and a member of the Strategy Committee. Mr. Shuyun Chen, aged 49, also known as Nick Chen, was appointed to the Board on January 31, 2018 as a non-executive Director until his resignation on February 25, 2022. He is now appointed as an independent non-executive Director with effect from May 3, 2024.

Mr. Chen spent over 18 years with the Capital Group Companies ("Capital Group"), one of the larger and most successful professional investment organizations, in Hong Kong and Singapore. In 2024, he retired from Capital Group as Partner in charge of Capital Group Private Markets (" CGPM ") in the Greater China region and a member of CGPM ' s global Portfolio Management Committee. During his tenure, he successfully invested in, advised, and served as a board director of many leading companies in the healthcare, technology, and financial industries.

Prior to joining Capital Group in 2005, Mr. Chen worked at J.P. Morgan in investment banking roles in New York and Hong Kong from 1999, leaving as Vice President of the Asia mergers and acquisitions group. Mr. Chen received his Bachelor of Arts degree (summa cum laude) in Business and Economics from Franklin & Marshall College in the United States in May 1997. Ms. Qian Zhang, aged 37, is currently the Chief People's Officer of the Group, the general manager of Jiangsu Zhongxu Biopharmaceuticals Co.

Ltd. ("Zhongxu Biopharmaceuticals", a wholly-owned subsidiary of the Company), and the supervisor of Innovent Biologics (Suzhou) Co. Ltd., Innovent Biologics Technology (Suzhou) Co. Ltd., Innovent Biologics Technology Co.

Ltd., Innovent Biologics (Hangzhou) Co. Ltd., Innovent Cells Pharmaceutical (Suzhou) Co. Ltd., Altruist Biotechnology (Suzhou) Co.

Ltd. and Altruist Biotechnology (Hangzhou) Co. Ltd. (wholly-owned subsidiaries of the Company), respectively. She is responsible for the management of Zhongxu Biopharmaceuticals, and the Group ' s human resources, information technology, administration, public relations, government affairs and Chairman's office.

Since joining the Group in 2012, Ms. Zhang has held various functional management positions and built a world class biopharmaceutical organization comprised of research and development, CMC (chemistry, manufacturing and controls) and commercialization for the Group. She pioneered numerous strategic initiatives, including the designing of organizational incentives, building corporate culture, recruitment, business training and benchmarking against global pharmaceutical companies. She has been one of the senior executives as the Chief People's Officer since 2017.

Ms. Zhang received her Bachelor degree in English from the Southwest University in China in June 2010. She takes the Executive Master of Business Administration (EMBA) programs in Fudan University. The Board hereby announces that following the above appointments of Mr. Chen and Ms. Zhang, with effect from May 3, 2024, Mr. Chen is appointed as member of each of the Remuneration Committee, the Strategy Committee and the Nomination Committee; and Ms. Zhang is appointed as a member of the Strategy Committee.