OBI Pharma Announces Discontinuation of the Phase 1/2 Study of its Antibody- OBI 888 to focus on other priority Cancer programs

TAIPEI, Taiwan, July 05, 2022 (GLOBE NEWSWIRE) — OBI Pharma, a Taiwan biopharma company (TPEx: 4174), today announced discontinuation of the Phase 1/2 Study* for OBI 888, a Globo H antibody, upon completion of enrollment in our investigative sites. “We are pleased that the preliminary data from our Phase 1/2 study demonstrated that OBI 888 is a safe and well tolerated product and showed some trends of efficacy. However, due to the higher antibody amount required for the OBI-888 treatment compared to the ADC, OBI-999, and an unexpected low drug yield at the large manufacturing scale, OBI-888 no longer fulfills our goal of developing cost-effective therapies for cancer patients. We have therefore decided to discontinue OBI-888 development and focus on our novel cancer pipeline under Phase 3 (Adagloxad Simolenin-vaccine) and Phase 2 (OBI 999-ADC, OBI 833-vaccine and OBI 3424-small molecule) clinical development. The OBI-888 clinical study report is estimated to be finalized in Q4, 2022 and presented at a future medical conference. “OBI Pharma is excited to develop and validate our novel anti-Globo H, AKR1C3 and Trop 2 pipeline to fulfill unmet medical needs of cancer patients,” stated, Michael Chang, OBI Pharma Chairman and CEO. *https://www.clinicaltrials.gov/ct2/show/NCT03573544. About OBI Pharma OBI Pharma, Inc., is a Taiwan biopharmaceutical company that was established in 2002. Its mission is to develop and license novel therapeutic agents for unmet medical needs against cancer targets such as Globo Series (including Globo H and SSEA-4), AKR1C3, Trop-2 and other promising targets. The company’s novel first-in-class immuno-oncology portfolio against Globo H includes: Adagloxad Simolenin (formerly OBI-822) and OBI 833, a Globo H active immunotherapy vaccine; and OBI-999 (Globo H ADC). The company’s novel first-in-class AKR1C3 targeted therapy is OBI-3424 (small-molecule prodrug) that selectively releases a potent DNA alkylating agent in the presence of the aldo-keto reductase 1C3 (AKR1C3) enzyme. Additional information can be found at www.obipharma.com. Forward-Looking Statements Statements included in this press release that are not a description of historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about future clinical trials, results and the timing of such trials and results. Such risk factors are identified and discussed from time to time in OBI Pharma’s reports and presentations, including OBI Pharma’s filings with the Taiwan Securities and Futures Bureau. COMPANY CONTACT: Kevin Poulos OBI Pharma USA, Inc. 1.619.537.7698 Ext. 102 [email protected]