"We are excited for achieving this important milestone, which also marked the first step to what we hope will ultimately allow us to bring an innovative cancer immunotherapy to patients who otherwise do not respond to or become relapsed/refractory of current therapies", said Dr. Liusong Yin, the Executive Director, Chief Executive Officer and Chief Science Officer of SunHo, "We focus on innovative immunocytokines to build the next leading global biopharma of immunotherapy, and to bring perceivable benefits and affordable medicine to patients worldwide, by innovation and collaboration."

IBB0979 is the world's first B7H3-IL10 immunocytokine receiving IND approval from both FDA and NMPA, according to Frost & Sullivan. It was developed by SunHo based on their own proprietary and patented Armed ImmunoCytokine ("AIC™") platform.

Other two innovative immunocytokines developed based on their proprietary and patented AIC™ platform, IAP0971(PD1-IL15) and IAE0972(EGFR-IL10) with both U.S. Food and Drug Administration ("FDA") and National Medical Products Administration of People's Republic of China ("NMPA") investigational new drug ("IND") clearance, are expected to initiate the Phase II clinical trials soon. Phase I clinical data showed that IAP0971 and IAE0972 were well tolerated and demonstrated encouraging preliminary anti-tumor activities in patients with locally advanced or metastatic solid tumors.