Jacobio Pharmaceuticals : RESIGNATION OF PRESIDENT OF RESEARCH AND DEVELOPMENT AND APPOINTMENT OF CHIEF BIOLOGIST

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JACOBIO PHARMACEUTICALS GROUP CO., LTD.

加 科 思 藥 業 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1167)

RESIGNATION OF PRESIDENT OF RESEARCH AND DEVELOPMENT

AND

APPOINTMENT OF CHIEF BIOLOGIST

The board (the "Board") of directors (the "Director(s)") of JACOBIO PHARMACEUTICALS GROUP CO., LTD. (the "Company", together with its subsidiaries, the "Group") hereby announces that, Dr. Shaojing HU (being a Director) ("Dr. HU") will cease to serve as the President of Research and Development (the "President of Research and Development") of the Company with effect from May 12, 2021 but will remain as an executive Director of the Company due to other work commitments.

Dr. HU has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation as the President of Research and Development that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude to Dr. HU for his contributions to the Board and the Company during his tenure of office.

The research and development plan of the Company is not be affected as a result of the resignation of Dr. HU as the President of Research and Development. Dr. Yinxiang WANG, the Chairman and Chief Executive Officer of the Company, will continue to lead the research and development of the Company. In the past year, a total of four vice presidents and senior vice presidents joined the Group, thus effectively enhancing the comprehensive capabilities in global clinical development, patent protection and database establishment.

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APPOINTMENT OF CHIEF BIOLOGIST

Dr. Wenlai ZHOU ("Dr. ZHOU"), the Senior Vice President of the Company, will be appointed as the Chief Biologist of the Company and concurrently the Senior Vice President with immediate effect from the date of this announcement.

Set out below are the biographical details of Dr. ZHOU:

Dr. Wenlai ZHOU, male, aged 53, has been the Senior Vice President since joining the Company in 2016 and responsible for drug discovery, biology and translational medicine. Dr. ZHOU has over 20 years of experience in the scientific research and industrial field. He served as the head of laboratory and research investigator at Oncology Department at Novartis Institutes for BioMedical Research, Inc. in the United States. Dr. ZHOU holds a doctoral degree in molecular biology from the University of Melbourne in Australia and completed post-doctoral research at the Faculty of Medicine of the University of California, San Diego in the United States.

The Board would like to take this opportunity to congratulate Dr. ZHOU as Chief Biologist and Senior Vice President.

On behalf of the Board

JACOBIO PHARMACEUTICALS GROUP CO., LTD.

Yinxiang WANG

Chairman

Hong Kong, April 30, 2021

As at the date of this announcement, the Board of the Company comprises Dr. Yinxiang WANG as Chairman and executive Director, Ms. Xiaojie WANG, Dr. Shaojing HU and Ms. Yunyan HU as executive Directors, Dr. Ting FENG, Ms. Yanmin TANG, Dr. Dong LYU and Dr. Te-li CHEN as non-executive Directors, and Dr. Ruilin SONG, Dr. Ge WU, Dr. Daqing CAI and Dr. Xiaoming WU as independent non-executive Directors.

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