Shanghai, China – August 13, 2026 – Allist Pharmaceuticals Co., Ltd. (“Allist”) (688578.SH) today announced the signing of a strategic cooperation agreement with ArriVent BioPharma, Inc. (“ArriVent”). Under the terms of the agreement, Allist has obtained the exclusive license to research, develop, manufacture and commercialize antibody-drug conjugate (ADC) AST12608/ARR-002 in China, including mainland China, Hong Kong, Macao and Taiwan.

The in-licensed asset AST12608/ARR-002 is a potential first-in-class MUC16/NaPi2b targeting tetravalent antibody-drug conjugate (ADC) with an initial focus in ovarian and endometrial cancers and broader therapeutic potential across solid tumors. On May 7, 2026, the candidate secured Investigational New Drug (IND) clearance from the U.S. Food and Drug Administration (FDA).

MUC16 and NaPi2b are highly expressed on ovarian and endometrial cancers with limited expression in normal tissues, making them strong co-targets. Select preclinical data included in the IND submission of AST12608/ARR-002 was presented at the 2026 American Association for Cancer Research (AACR) Annual Meeting demonstrating:

 Effective binding to individual targets, simultaneous engagement of both targets, and enhanced internalization vs. single-target antibody controls

 Superior in vivo efficacy vs. single-target ADCs in the OVCAR-3 xenograft model

 The potential for a wider therapeutic window based on a favorable tolerability profile in cynomolgus monkeys, consisting of reversible hematologic findings at a higher maximum tolerated single dose vs. other approaches in development

Ovarian cancer is a prevalent gynecologic malignancy with high late-stage diagnosis and recurrence rates, affecting approximately 60,000 1new patients annually in China and posing grave prognostic challenges. Endometrial cancer has a rising incidence with around 100,0001 new cases per year, while treatment options remain limited for advanced, recurrent disease and high-risk subtypes. There exists substantial unmet clinical need for both malignancies.

In 2021, Allist out-licensed the global development and commercialization rights of firmonertinib outside Greater China to ArriVent, marking one of China’s earliest and most successful NewCo collaboration practices in the biotech industry.

Firmonertinib was granted U.S. Food and Drug Administration (FDA) Breakthrough Therapy Designation. Currently, firmonertinib is being studied in a global Phase 3 trial for first-line NSCLC patients with EGFR exon 20 insertion mutations (FURVENT; NCT05607550) and in a global Phase 3 study in first line NSCLC patients with EGFR PACC mutations (ALPACCA).  

These key clinical milestones fully demonstrate the two parties’ efficient collaboration capabilities. Building on the core objective of unlocking the value of innovative drug development and leveraging respective strengths, the two parties have sealed their second BD partnership.

“We are pleased to form this strategic collaboration with ArriVent to bring the potential first-in-class tetravalent dual-targeting ADC AST12608/ARR-002 to China. It is poised to advance both efficacy and safety in ovarian and endometrial cancers and offer new treatment hope for patients. Since the launch of firmonertinib, pralsetinib and glecirasib, Allist has built solid clinical-development and commercialization expertise in precision oncology. AST12608/ARR-002 enriches our innovative pipeline and marks our entry into gynecologic oncology — a field with significant unmet medical needs. We will pursue a dual-driven innovation strategy combining small-molecule and large-molecule modalities, while advancing both in-house R&D and global BD activities. Leveraging our core strengths in clinical development, regulatory affairs and commercialization, we will accelerate AST12608/ARR-002’s development in China, aiming for timely approval and launch to benefit more Chinese patients.” said Jinhao Du, Chairman and General Manager of Allist .

Jie Hu, Vice Chairman and Deputy General Manager of Allist, stated, “We congratulate ArriVent on its first-in-class bispecific ADC ARR-002 with innovative design and promising preclinical efficacy and safety, which has best-in-class potential. The in-licensing of AST12608/ARR-002 fits Allist’s strategic layout, expanding our pipeline into gynecologic oncology. This is our second cooperation with ArriVent after firmonertinib’s overseas out-licensing, forming a two-way licensing collaboration between Chinese and U.S. innovative biotechs. Allist will keep increasing R&D spending, expanding therapeutic indications and partnering with outstanding enterprises to enrich our pipeline. We wish smooth clinical advancement for AST12608/ARR-002 and prosperous development for ArriVent led by Dr. Zhengbin Yao.”

About Allist

Shanghai Allist Pharmaceuticals Co., Ltd, founded in March, 2004, is an innovative pharmaceutical company with a fully integrated system for research and development, manufacturing, and commercialization of novel oncology drugs with a purpose to meet with medical needs across the globe. In accordance with its development concept “Advancing Long Life with Innovation of Science and Technology”, Allist is dedicated to self-develop First-in-class and Best-in-class drug candidates. After more than 20 years of endeavor, Allist has independently discovered and launched multiple approved innovative drugs and built comprehensive capabilities to continuously develop proprietary anti-tumor therapies with proven clinical efficacy. On December 2nd, 2020, Shanghai Allist Pharmaceuticals Co., Ltd. was officially listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange (stock number: 688578). 

About ArriVent

ArriVent is a clinical-stage biopharmaceutical company dedicated to the identification, development, and commercialization of differentiated medicines to address the unmet medical needs of patients with cancers. ArriVent seeks to utilize its team’s deep drug development experience to maximize the potential of its lead development candidate, firmonertinib, and advance a pipeline of novel therapeutics, such as next-generation antibody drug conjugates, through approval and commercialization.

Allist Pharmaceuticals Co., Ltd. (hereinafter referred to as “the Company”) hereby issues the following important notice:

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The Company does not advocate the use of any unapproved medicinal products or use of medicines for unapproved indications, nor does it endorse any drug or indication. For drugrelated or medical information, please refer to the officially approved package inserts and authoritative clinical guidelines.

[1] Data Source: National Cancer Center, 2022 China Cancer Epidemiology Report, Chinese Journal of Oncology, 2024.