Subsidiary Microbio (Shanghai) received the 2nd upfront payment of US$2.88MM from LEO PHARMA A/S. A total of US$6.4MM upfront payments have all been received.

SEQ_NO	1	Date of announcement	2021/01/14	Time of announcement	18:05:14
Subject	Subsidiary Microbio (Shanghai) received the 2nd upfront payment of US$2.88MM from LEO PHARMA A/S. A total of US$6.4MM upfront payments have all been received.
Date of events	2021/01/14	To which item it meets	paragraph 53
Statement	1.Date of occurrence of the event:2021/01/14 2.Company name:Microbio (Shanghai) Co., Ltd. 3.Relationship to the Company (please enter ”head office” or ”subsidiaries”):Subsidiary 4.Reciprocal shareholding ratios: NA 5.Cause of occurrence: (1)Microbio (Shanghai), a subsidiary of Microbio Co., Ltd. and Oneness Biotech, an affiliate company of Microbio Co., Ltd. entered a worldwide exclusive license agreement on April 15th 2020 with LEO Pharma A/S for FB825, a first-in-class antibody for allergic diseases. (2)LEO PHARMA A/S has paid the 2nd upfront payment of US$2.88 million according to the agreement and Microbio (Shanghai) has received a notice by the bank that US$2.592 million (with 10% tax reduction) has been received. The upfront payments in a total US$6.4 million (US$5.76 million after tax) have all been received. 6.Countermeasures:None 7.Any other matters that need to be specified: None