Celltrion and Nan Fung Group to establish Vcell Healthcare Limited to Develop
and Commercialize Biosimilars in China

Incheon, Korea and Hong Kong, China, July 19, 2019-Celltrion and Nan Fung Group announced today the establishment of Vcell Healthcare Limited, a Joint Venture company between both parties.

At the formation of the Joint Venture, Vcell Healthcare Limited has simultaneously signed a licensing agreement with Celltrion Group. Vcell Healthcare Limited will obtain the exclusive rights in Mainland China to develop, manufacture and commercialize three US FDA and EMA approved biosimilar products from Celltrion: CT-P13 (Remsima), CT-P10 (Truxima) and CT-P6 (Herzuma).  Remsima, referencing Remicade (Infliximab), was the first antibody biosimilar approved in EU and US. Remsima has been commercialized in more than 80 countries worldwide. Truxima, referencing Rituxan (Rituximab), has been approved in US and EU; and Herzuma, referencing Herceptin (Trastuzumab), has been approved in US, EU and Japan. Vcell Healthcare Limited aims to launch these products in China expeditiously following the regulatory approval process. In the meantime, Celltrionand Nan Fung Group will collectively explore the opportunity to develop a world-class biologics manufacturing facility in China.

Seo Jung-Jin, Chairman of Celltrion Group said, "We are extremely excited about the establishment of Vcell Healthcare Limited, which will serve as the cornerstone for our entry into the Chinese market. We will make our best efforts to start business in China as soon as possible and provide Chinese patients with our outstanding biosimilar products which have already been approved in the global markets such as the U.S., Europe, and South Korea."

Antony Leung, Chairman and CEO of Nan Fung Group, said, "China has huge unmet medical needs for high quality drugs with affordable prices. We hope Vcell Healthcare Limited could bring world-class biosimilar products to benefit Chinese patients and establish a state of the art manufacturing base in China to serve growing demand for high quality CDMO in the country."

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