SHANGHAI, Oct. 31, 2025 -- JW Therapeutics (HKEx: 2126), an independent and innovative biotechnology company focusing on developing, manufacturing and commercializing cell immunotherapy products, announced the execution of an Amendment to its strategic collaboration agreement with Regeneron Pharmaceuticals, Inc. ("Regeneron"), a leading global biotechnology company. This amendment not only signifies a major upgrade in long-term partnership between the two companies, but also marks the beginning of a new phase of collaboration in TCR-T cell therapy and platform innovation.

The aggregate consideration receivable by the Company under the Amendment, consisting of the MAGE-A4 Product Development Milestone Payments, the DPP Regulatory Milestone Payments, the Option Exercise Fee, the LVMP Milestone Payments. Aggregate consideration under the amendment will not exceed approximately US$50 million.

Under the amended agreement, Regeneron will fund certain development activities performed by JW Therapeutics relating to the MAGE-A4 Product. Regeneron will pay the Company an upfront payment upon execution of the Amendment and a series of one-time, non-refundable milestone payments upon achievement of certain development milestone events as set forth in the Amendment. This cost-sharing mechanism enhances JW Therapeutics' financial position by reducing capital expenditure while ensuring continued progress on a solid tumor program addressing a huge unmet medical need. JW Therapeutics will retain the right to develop and commercialize this product in the Greater China region.

The Amendment further broadens the collaboration scope to incorporate core technology licensing. Regeneron has been granted non-exclusive global license under JW Therapeutics' proprietary Drug Product Process, along with an option to license JW Therapeutics' Lentiviral Vector Manufacturing Process. The above self-developed internal process platform has been validated by a leading global partner, underscoring JW Therapeutics' process innovation, GMP maturity, and technical excellence.

Under these non-exclusive licensing terms, JW Therapeutics retains full ownership and commercial control of its core technologies while maintaining the flexibility to engage in future partnerships. The collaboration aligns with JW Therapeutics' broader strategic objective to establish long-term platform value and contribute to the global cell therapy landscape.

Min Liu, Chairman and CEO of JW Therapeutics, said, "This Amendment represents a validation of JW Therapeutics' technology capabilities and our potential to deliver clinical and commercial innovation in solid tumor. We are honored to deepen our collaboration with Regeneron, accelerate the development of more cell immunotherapy products with breakthrough therapeutic value and look forward to shaping the future of cell therapy together."

This enhanced collaboration further demonstrates JW Therapeutics' R&D capabilities, platform value, and global partnership competencies in the cell therapy field, while reinforcing the company's commitment to delivering sustainable long-term value for both patients and shareholders.