[News] Grand Opening Ceremony of Hua Medicine's First Online Flagship Store

February 16, 2023 - China, Shanghai

Hua Medicine (the "Company", HKEx stock code: 2552.HK), today announces that the Company's first online flagship store is inaugurated on 111, Inc. (NASDAQ: YI), a leading tech-enabled healthcare platform company in China. On February 15th, Dr. Li Chen, the founder and CEO of Hua Medicine, and Dr. Gang Yu, the co-founder and executive chairman of 111, Inc. , jointly announce a grand opening of Hua Medicine’s first online flagship store at the Commercial Launch Event of HuaTangNing (华堂宁^®).

▲ Grand opening of Hua Medicine’s first online flagship store

The New Drug Application (NDA) of HuaTangNing (华堂宁^®) (dorzagliatin tablets), a first-in-class glucokinase activator (GKA) developed by the Company was approved by the National Medical Products Administration (NMPA) of China in September 2022.   The first prescription sale of HuaTangNing (华堂宁^®) was fulfilled later on October 28. As it attracts wide attention from patients, HuaTangNing (华堂宁^®) has witnessed soaring demand across hospitals, pharmacies and Internet. Starting from the beginning of 2023, new batches of HuaTangNing (华堂宁^®) are supplied across distribution channels, which has greatly improved the accessibility for diabetic patients.

111, Inc. is committed to digitally connecting patients with medicine and healthcare services, aspiring to build itself into an integrated online and offline healthcare platform. In the light of China’s new regulations on the online sales of prescription drug, this flagship store jointly launched with 111, Inc. is one of Hua Medicine’s major initiatives to expand its commercial presence and distribution network as it explores diversified supply and service models online and offline. The flagship store is an official representation of Hua Medicine’s brand image, and it will be an important platform for Hua Medicine to better serve patients and doctors in the future.

This flagship store takes multiple roles. Firstly, patient education. The store systematically shows Hua Medicine’s innovative treatment concepts: Glucokinase (GK)’s central role in keeping glucose homeostasis as a glucose sensor; an innovative mechanism of treating diabetes from its source based on the theory of glucose homeostasis; the potential of first-in-class drugs in drug discontinuation, remission, control of progression and complication among diabetes patients. Secondly, the flagship store serves as an official window of information release. Thirdly, patient education in drug safety: an official communication channel on drug use and prevention and reminder of adverse drug reaction. It truly represents Hua Medicine's belief of "For Patients, Global Innovation, Effective Medicines”.

Dr. Li Chen, the founder and CEO of Hua Medicine, said: "111, Inc. is a benchmark player in China’s Internet medicine and healthcare industry, equipped with leading digital technology and smart supply chain. We are very much looking forward to Hua Medicine’s cooperation with 111, Inc. , as we provide innovation solutions of health management and medical service through the online flagship store. In the future, Hua Medicine will continue to explore partnership opportunities with Internet channels to benefit more diabetic patients."

Dr. Gang Yu, the co-founder and executive chairman of 111, Inc. , said: “Hua Medicine is a leader in innovative drug research and commercialization in China. Over the years, it has devoted itself to the research and development of original drugs. HuaTangNing (华堂宁^®), the world’s innovative drug of its kind, is from Hua Medicine. The official opening of its flagship store on 111 , Inc.is a timely and innovative measure taken by a Chinese innovative pharmaceutical company to embrace the Internet. At the same time, it also marks a key milestone for 111, Inc. and Hua Medicine in the exploration of online cooperation. 111, Inc. will work with Hua Medicine to make cutting-edge innovative drugs more accessible for diabetes patients, empower diabetes treatment as well as patient management, and contribute value to society.”

Participants invited at the Commercial Launch Event and Grand Opening Ceremony are the clinical experts involved in the R&D of HuaTangNing (华堂宁^®), experts in medicine policies and medical insurance access, and business partners of Hua Medicine, who shared the new concept, new mechanism, new efficacy, new structure and new technology of HuaTangNing (华堂宁^®), as the world's first-in-class drug for type 2 diabetes. They also discussed Hua Medicine’s treatment philosophy of glucose homeostasis, new trends in diabetes treatment, industry policies , development dynamics and promising prospects and patient benefits of HuaTangNing (华堂宁^®). These insights will help guide Hua Medicine in product R&D, commercial policies and the business model of HuaTangNing (华堂宁^®). Participants strongly expected Chinese innovative drugs to thrive, and biopharmaceutical companies represented by Hua Medicine to develop more new drugs that benefit Chinese people.

About HuaTangNing（华堂宁^®）
HuaTangNing (华堂宁^®) (dorzagliatin tablets) is a first-in-class glucokinase allosteric activator (GKA) with a brand-new mechanism. It can be used alone or in combination with metformin hydrochloride (when using metformin hydrochloride alone is ineffective in controlling blood glucose), to improve blood glucose control for T2D adult patients with diet and exercise. HuaTangNing (华堂宁^®) targets at restoring the impaired glucose sensor glucokinase (GK) in pancreas, intestine and liver, to achieve one target with multiple points and coordinated blood glucose control. It regulates glucose stimulated secretion of the glycaemic controlling hormones insulin, GLP-1 and glucagon in diabetes patients, which leads to the improvement of early-phase insulin secretion and disposition index. It has potential in restoring glucose homeostasis and diabetes remission. HuaTangNing (华堂宁^®) demonstrated a linear correlation between drug dose and plasma exposure, with glucose hemeostasis control on target organs such as pancreas, intestine and liver. It showed low renal excretion and similar pharmacokinetic profiles at End Stage Renal Disease (ESRD) patients and healthy subjects, which suggest it can be readily used in those patients with renal insufficiency without dose adjustment. The unique mechanism of action, desirable pharmacokinetic, and tolerability profile establish HuaTangNing (华堂宁^®) as an oral new drug that can improve blood glucose control in T2D patients.

About Hua Medicine
Hua Medicine is an innovative drug development and commercialization company based in Shanghai, China, focused on developing novel therapies for patients worldwide with unmet medical needs. Based on global resources, Hua Medicine teams up with global high-caliber people to develop breakthrough technologies and products, which contribute a global innovation in diabetes care. As Hua Medicine's cornerstone product (dorzagliatin tablets), targeting the glucose sensor, glucokinase, restores glucose sensitivity in T2D patients and stabilizes the imbalance of blood glucose levels in patients, it has been approved by the National Medical Products Administration (NMPA) of China on September 30th. It can be used alone or in combination with metformin hydrochloride-tolerated T2D patients. For those patients with chronic kidney disease (CKD) and Type 2 diabetes (i.e., diabetes kidney disease), no dose adjustment is required. Hua Medicine will partner with Bayer, a leading global pharmaceutical company, to commercialize HuaTangNing (华堂宁^®) in China, benefiting diabetic patients and their families. HuaTangNing (华堂宁^®) has also demonstrated its potential of achieving diabetes remission in clinical studies to help millions of diabetic patients around the world.

About 111, Inc.
111, Inc. (NASDAQ: YI) ("111" or the "Company") is a leading tech-enabled healthcare platform company committed to digitally connecting patients with medicine and healthcare services in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company's online platform, 1 Medicine Marketplace, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.
For more information on 111, please visit: http://ir.111.com.cn/.

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