-- Cytovant licenses East Asian rights for a research-stage T-cell receptor 
     (TCR) against tumor antigen NY-ESO-1 as well as rights for Medigene's 
     dendritic cell (DC) vaccine for the treatment of patients across East Asia

  -- Cytovant and Medigene to collaborate on research and discovery of two 
     additional TCRs tailored for patients in East Asia

  -- Medigene receives an upfront payment of USD 10 million as well as 
     potential development, regulatory, and commercial milestones and low 
     double-digit royalties 

  -- John Xu, PhD, former President and Chief Scientific Officer of Mab-Legend 
     Biotech, named President of Cytovant

Sinovant Sciences and Roivant Sciences today announced the launch of Cytovant 
Sciences, a biopharmaceutical company focused on developing and commercializing 
innovative cellular therapeutics in Asia. Cytovant will focus on development 
programs that have the potential to transform the treatment of diseases that 
are prevalent in Asian patients. Concurrent with the company's launch, Cytovant 
has entered into a multi-program license and collaboration agreement with 
Medigene AG, a clinical stage biotechnology company focusing on the development 
of T cell immunotherapies. 

Medigene has granted Cytovant exclusive licenses to develop, manufacture, and 
commercialize Medigene's research-stage T cell immunotherapy targeting NY-ESO-1 
as well as a DC vaccine targeting WT-1 and PRAME, in Greater China, South 
Korea, and Japan. In addition, Cytovant and Medigene have entered into a 
strategic collaboration and discovery agreement for T-cell receptor (TCR) 
immunotherapies for two additional targets. Medigene will be responsible for 
the generation and delivery of the TCR constructs using its proprietary TCR 
discovery and isolation platform. Following this research collaboration period, 
Cytovant will assume sole responsibility for the development and 
commercialization of these TCR therapies in the relevant countries. The TCRs to 
be generated by Medigene will be tailored specifically to Asian patients. 

Under the terms of the transaction agreements, Medigene will receive an overall 
upfront payment of USD 10 million as well as potential development, regulatory, 
and commercial milestone payments which in aggregate could total over USD 1 
billion for the four products across multiple indications. Furthermore, 
Medigene will be eligible to receive royalty payments on net sales of the 
products in a low double-digit percentage in the relevant countries. 
Additionally, Cytovant will reimburse all R&D costs incurred by Medigene within 
the collaboration.

"T cell receptors are the scouts of the immune system," said Prof. Dolores 
Schendel, CEO/CSO of Medigene. "They help T cells recognize and destroy cancer 
cells. We use our sophisticated screening systems to generate tailored TCR 
therapies for patient populations with specific genetic characteristics. This 
partnership implements Medigene's strategy to discover TCRs with various HLA 
specificities in order to address different populations and markets. Cytovant, 
with its highly experienced management and scientific team was launched by 
Sinovant and Roivant to achieve excellence in cell therapies and we are proud 
to be part of this story of delivering various TCR projects as well as our DC 
vaccine for development in East Asia."

"The complexities of end-to-end cell therapy manufacturing, development, and 
commercialization in Asia require regional focus, specialization, and 
knowledge," said Benjamin Zimmer, President of Roivant Health. "Roivant and 
Sinovant have built Cytovant precisely to address these scientific and 
logistical complexities. We are excited to announce this strategic alliance 
with Medigene, one of the leading companies in the field of T cell-based 
therapies, to deliver important new cellular immunotherapies to Asian patients 
as quickly as possible."

Dr. John Xu, a molecular immunologist by training and translational scientist, 
has joined Cytovant and will serve as the company's President. Prior to joining 
Cytovant, Dr. Xu was President and Chief Scientific Officer of Mab-Legend 
Biotech, a Shanghai-based antibody discovery company. Previously, Dr. Xu also 
served as Chief Scientific Officer of Shanghai Benemae Pharmaceutical 
Corporation and as Head of the Biologics Group at GSK China. He received his 
B.S. in cell biology and genetics from Peking University and his Ph.D. in 
biochemistry and molecular biology from Harvard University.

"We are thrilled to welcome John to Cytovant," said Dr. Xinan Chen, Executive 
Chairman of Sinovant. "John's deep scientific expertise and knowledge of Asia's 
health priorities make him an ideal leader for the company as we prepare to 
rapidly scale its research and development activities. The launch of Cytovant 
represents an important milestone in Sinovant's evolution as a platform for 
entrepreneurs like John and we look forward to building Cytovant with him."

About Cytovant
Cytovant is a clinical-stage biopharmaceutical company focused on developing 
innovative cellular therapeutics in Asia. Cytovant's mission is to become 
Asia's premier cell therapy company by discovering, developing, and 
commercializing new medicines that are uniquely suited to Asian patients. 

About Sinovant
Sinovant is a Chinese biopharmaceutical company dedicated to conducting 
globally innovative biomedical R&D in China to meet the needs of patients in 
Greater China and around the world. Sinovant's mission is to develop and 
commercialize new medicines that address the most pressing public health 
challenges in China while simultaneously advancing Chinese biopharmaceutical 
research abroad. 

For further information, please visit www.sinovant.com. 

About Roivant
Roivant aims to improve health by rapidly delivering innovative medicines and 
technologies to patients. We do this by building Vants – nimble, 
entrepreneurial biotech and healthcare technology companies with a unique 
approach to sourcing talent, aligning incentives, and deploying technology to 
drive greater efficiency in R&D and commercialization.

For more information, please visit www.roivant.com.

About Medigene
Medigene AG (FSE: MDG1, ISIN DE000A1X3W00, Prime Standard) is a publicly listed 
biotechnology company headquartered in Martinsried near Munich, Germany. The 
company is developing highly innovative immunotherapies to target various forms 
and stages of cancer. Medigene concentrates on the development of personalized 
T cell-based therapies with the focus on T cell receptor-modified T cells 
(TCR-Ts) and has projects currently in preclinical and clinical development.

For more information, please visit www.medigene.com. 

Contractual parties to the agreement are Medigene Immunotherapies GmbH, a 
wholly owned affiliate of Medigene AG, and Roivant Asia Cell Therapy Holdings 
Ltd., a wholly owned subsidiary of Roivant Sciences Ltd.  

Forward-Looking Statements

This press release contains forward-looking statements representing the opinion 
of Medigene as of the date of this release. The actual results achieved by 
Medigene may differ significantly from the forward-looking statements made 
herein. Medigene is not bound to update any of these forward-looking 
statements. Medigene(R) is a registered trademark of Medigene AG. This 
trademark may be owned or licensed in select locations only.

Contacts 

Sinovant Sciences
Qi Gu
Email: qi.gu@sinovant.com

Roivant Sciences 
Paul Davis
Email: paul.davis@roivant.com

Medigene AG
Julia Hofmann, Dr. Robert Mayer
Email: investor@medigene.com

Source - Roivant Sciences

CONTACT: Sinovant Sciences: Qi Gu, Tel: +86-10-59407085; Roivant Sciences: Paul 
Davis, Tel: +1(646)495-5310; Medigene AG: Julia Hofmann, Dr. Robert Mayer, 
Tel.: +49-89-20 00 33-33 01