Ocumension Therapeutics : VOLUNTARY ANNOUNCEMENT IND APPLICATION RECEIVED FOR A PHASE III CLINICAL TRIAL OF OT-101 IN CHINA

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Ocumension Therapeutics

歐康維視生物

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1477)

VOLUNTARY ANNOUNCEMENT

IND APPLICATION RECEIVED FOR

A PHASE III CLINICAL TRIAL OF OT-101 IN CHINA

This announcement is made by Ocumension Therapeutics (the "Company", together with its subsidiaries, the "Group") on a voluntary basis to keep the shareholders of the Company and potential investors informed of the latest business updates of the Group.

The board (the "Board") of directors of the Company is pleased to announce that an investigational new drug application for initiating a multi-regional phase III clinical trial (the "Phase III MRCT") in the People's Republic of China for OT-101, a self-developed product of the Group, has recently been accepted by Center for Drug Evaluation of the National Medical Products Administration of the People's Republic of China. Once the Phase III MRCT is approved, OT-101 is expected to be the world's first phase III MRCT of low concentration atropine and its analogues that includes Chinese population.

OT-101 is a low-concentration atropine 0.01% eye drop developed by the Group to retard, or slow down, the progression of myopia in children and adolescents. The instability of low-concentration atropine solutions has long been a technical barrier for its commercialization. The Group developed

1. storage and delivery system to address low-concentration atropine solution's instability, and also conducted several rounds of tests on the system's reliability, closure integrity and sterility conditions.

Cautionary Statement required by Rule 18A.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited: The Company cannot guarantee that it will ultimately commercialize OT-101successfully. Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Ocumension Therapeutics

Dr. Lian Yong CHEN

Chairman and Executive Director

Hong Kong, May 11, 2021

As of the date of this announcement, the Board comprises Dr. Lian Yong CHEN, Mr. Ye LIU, Dr. Zhaopeng HU and Dr. Wei LI as executive directors, Mr. Yanling CAO and Ms. Yumeng WANG as non-executive directors, and Mr. Ting Yuk Anthony WU, Mr. Lianming HE, and Mr. Yiran HUANG as independent non-executive directors.