Athenex Announces Quantum Leap Healthcare Kollaborative Reports Positive Results of I-SPY2 Clinical Trial for Oral Paclitaxel in Combination With PD-1 and Carboplatin Neoadjuvant Cancer

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Athenex, Inc.

In this Phase 2 trial, the Oral Paclitaxel and Combination regimen was successful in the triple-negative breast carcinoma subgroup.

BUFFALO, N.Y., Dec. 20, 2022 (GLOBE NEWSWIRE) — Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions announced that collaborators at the Quantum Leap Healthcare Collaborative reported today that the Company’s oral paclitaxel plus encequidar in combination with a PD-1 inhibitor and carboplatin has graduated in the triple-negative subgroup of high-risk early-stage breast cancer. Comparing intravenous paclitaxel to oral paclitaxel there was less neuropathy. There was also no increase in febrile neutropenia. Quantum Leap Healthcare Collaborative expects to present these results at the upcoming national meetings in Q2 2023.

“We are very pleased that the Oral Paclitaxel combination regimen graduated from this prestigious program which has brought exciting and innovative treatments to neoadjuvant breast cancer patients. This study confirms the fact that Oral Paclitaxel has less neuropathy than intravenous Paclitaxel. It’s reassuring to see that Oral Paclitaxel regimen was not associated with increased febrile neutropenia relative to the intravenous paclitaxel regimen in a well-conducted U.S. study,” said Dr. Johnson Lau, Chief Executive Officer of Athenex. “We will explore different opportunities to maximize the value of Oral Paclitaxel.”

Please refer to https://www.quantumleaphealth.org/ For more information, please visit

Quantum Leap Healthcare Collaboration

Quantum Leap Healthcare Collaborative (501c(3)) is a charitable organization founded in 2005 to bring together medical researchers from University of California San Francisco and Silicon Valley entrepreneurs. Our mission is to bring together high-impact clinical research with clinical processes technology and system technology. This will result in better data management, more access to clinical trial matching and sponsorship, as well as greater benefits for patients, researchers, and providers. Our mission is to save and improve lives. Quantum Leap provides regulatory, financial, and operational oversight to I-SPY. For more information, please visit https://www.quantumleaphealth.org/.

About the ISPY TRIALS

The ISPY TRIAL (Investigation of Serials to Predict Your Therapeutic Response With Imaging and moLecular Analysis 2) was developed to rapidly screen promising treatments and determine which ones are most effective in particular patient subgroups. This was done based on molecular signatures (biomarker signatures). The unique collaborative effort of a consortium including the FDA (Food and Drug Administration), industry, patient advocates and philanthropic sponsor, and clinicians at 16 major U.S. Cancer Research Centers is called I-SPY TRIAL. Quantum Leap Healthcare Collaborative will be the trial sponsor. It will also manage all study operations. For more information, please visit www.ispytrials.org.

About Athenex, Inc.

Founded in 2003, Athenex, Inc. is a global clinical-stage biopharmaceutical company dedicated to becoming a leader in the discovery, development, and commercialization of next generation cell therapy drugs for the treatment of cancer. In pursuit of this mission, Athenex leverages years of experience in research and development, clinical trials, regulatory standards, and manufacturing. The Company’s current clinical pipeline is derived mainly from the following core technologies: (1) Cell therapy, based on NKT cells and (2) Orascovery, based on a P-glycoprotein inhibitor. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active, accessible, and tolerable treatments. Visit www.athenex.com for more information. www.athenex.com.

Forward-Looking Statements

This press release contains forward-looking statements. These forward-looking statements are typically identified by terms such as “explore,” “will,” “may,” “believe,” and similar expressions. Actual results could differ materially from the forward-looking statements, whether they are explicit or implicit. Important factors that could cause actual results to differ materially include: our history of operating losses and our need and ability to raise additional capital to continue as a going concern; the development stage of our primary clinical candidates and related risks involved in drug development, clinical trials, regulation, uncertainties around regulatory reviews and approvals, including the further development of oral paclitaxel; the preclinical and clinical results for Athenex’s drug candidates, which may not support further development of such drug candidates; the Company’s ability to successfully demonstrate the safety and efficacy of its drug candidates and gain approval of its drug candidates on a timely basis, if at all; risks related to counterparty performance, including our reliance on third parties for success in certain areas of Athenex’s business; intellectual property risks, and the other risk factors set forth from time to time in our SEC filings, copies of which are available for free in the Investor Relations section of our website at http://ir.athenex.com/phoenix.zhtml?c=254495&p=irol-sec Or upon request to our Investor Relations Department. The information in this release is current as of the date. We do not assume any obligation or intend to change these forward-looking statements except as required by law.

Contact Athenex

Daniel Lang, MD Athenex, Inc. Email: [email protected]

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