April 15, 2024 – DualityBio (映恩生物) has officially commenced trading on the Main Board of the Hong Kong Stock Exchange under the stock code 9606.HK.

The IPO was priced at HK$94.60pershare\ast \ast ,raisingapproximately\ast \ast US$94.60 per share, raising approaximaly 211 million (RMB 1.54 billion). Upon full exercise of the over-allotment option (Greenshoe), the total proceeds are expected to reach US$243 million, making it the largest IPO under Hong Kong’s Chapter 18A biotech listing regime in the past four years.

By market close on its debut day, DualityBio’s share price surged 116.7% to HK$205 per share.

15 cornerstone investors participated, including BioNTech, LAV Star, Lake Bleu Prime, Lake Bleu Innovation, TruMed and etc collectively subscribing to US$65million(HK$65million(HK505 million).

Sponsors & Global Coordinators:

• Sponsors: Morgan Stanley Asia Limited, Jefferies Hong Kong Limited, and CITIC Securities (Hong Kong) Limited.

• Joint Global Coordinators, Bookrunners & Lead Managers: Morgan Stanley Asia Limited, Jefferies Hong Kong Limited, CLSA Limited, CICC Hong Kong Securities Limited, and CMBI Capital Markets Limited.

Dr. Zhongyuan Zhu, Founder and CEO of DualityBio, remarked:"Since our inception, DualityBio has persevered through challenges to achieve this milestone listing in Hong Kong. This success is a testament to the dedication of every DualityBio team member, as well as the unwavering support from HKEX, bankers and IPO team, and investors. Moving forward, we will leverage Hong Kong’s strengths as a global financial hub to accelerate the DualityBio Flywheel, optimize our four ADC innovation platforms, advance clinical pipeline development, and collaborate with multinational pharmaceutical partners to deliver breakthrough therapies for patients worldwide. Together, we will embrace challenges and realize our vision of becoming a global biopharma leader."