Vcare 2023 Annual Review

　　I. Important Progress in Innovative Drug R&D

　　① Submitted NDA to US FDA for anti-platelet drug Vicagrel: If approved, it may benefit ~27.6M US patients with coronary heart disease/stroke.

　　② Completed 1st patient enrollment in China’s Phase II trial for anti-resistant TRK inhibitor VC004: Phase I data showed ORR of 80%-90% in NTRK fusion+ solid tumors and DOR up to 24 months.

　　③ Completed Phase II enrollment for 2nd-gen selective JAK1 inhibitor VC005 in ankylosing spondylitis: Preliminary blinded analysis showed favorable efficacy/safety.

　　Additionally: VC004 gel approved for clinical trials; VC005 gel initiated China Phase I for atopic dermatitis; Multiple preclinical projects advanced in cardio-cerebrovascular, oncology, and autoimmune fields.

　　II. CRO/CDMO Service Revenue

　　2023 external service revenue: ~RMB 400 million (+25.5% YoY); New contracts: >RMB 550 million (+16.1% YoY).

　　III. Production Base Development

　　① Tianshu Pharmaceutical Phase I facility operational: 240+ employees; Robust quality system established; Passed 30+ audits by global clients/regulators; Monthly output exceeded RMB 10M since July trial production, reaching RMB 35M in December.

　　② Obtained Drug Manufacturing Certificate: enabling compliant API and innovative drug CDMO production.

　　IV. Corporate Financing

　　Closed Series C financing >RMB 450 million amid market downturn: Named among 2023 Top 10 Pharma Financing Projects in China; Total financing 2021-2023: ~RMB 1B; Valuation >RMB 3B.

　　V. Employee Care

　　① Organized 6 cultural events

　　② Held 12 Happy Hour activities

　　③ Completed 60+ promotions & 80+ internal trainings

　　④ 60+ employees received 3rd equity incentive

　　VI. Awards & Honors

　　Jiangsu Vcare Honored As: Jiangsu Provincial Enterprise Technology Center; Jiangsu Science & Technology Second Prize

　　Nanjing Vcare Honored As: Top 20 CRO Enterprises in China; High-Tech Enterprise; Nanjing Innovative SME