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Arix Bioscience Plc - Harpoon and AbbVie announce licensing and option deal

Arix Bioscience plc

Harpoon and AbbVie announce licensing and option deal

Harpoon grants AbbVie option to license worldwide rights to HPN217 (BCMA), a TriTAC for the treatment of multiple myeloma planned for IND filing this year

Expanded TriTAC discovery collaboration includes up to six additional targets selected by AbbVie

Two agreements provide for a total of in upfront and up to in a contingent milestone payment for first patient treated with HPN217 in a clinical trial$50 million$50 million

(“Arix”, LSE: ARIX) a global venture capital company focused on investing in and building breakthrough biotech companies, notes that its portfolio company, (“Harpoon”, NASDAQ: HARP) and (NYSE: ABBV), today announced an exclusive worldwide option and license transaction for HPN217, Harpoon’s B cell maturation antigen (BCMA)-targeting Tri-specific T cell Activating Construct (TriTAC®), and an expansion of their existing discovery collaboration for up to six additional targets., :LONDON21 November, 2019Arix Bioscience plcHarpoon TherapeuticsAbbVie Inc.

These agreements build upon the discovery collaboration established by the two companies in and are expected to advance and broaden the use of Harpoon’s proprietary TriTAC platform, which produces novel T cell engagers targeting both solid tumours and hematologic malignancies. October 2017

The announcement can be accessed on Harpoon’s investor website at   and full text of the announcement from Harpoon is contained below.https://ir.harpoontx.com/news-releases

Further information can also be found on the (the “SEC”) website atU.S. Securities and Exchange Commissionhttps://www.sec.gov/Archives/edgar/data/1708493/000156459019044008/harp-8k_20191120.htm.

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, Head of Investor Relations +44 (0)20 7290 1072  Arix Bioscience plc


Charlotte Parry[email protected]

Mary Clark, +44 (0)203 714 1787Optimum Strategic Communications


Supriya Mathur[email protected]

AboutArix Bioscience plc

is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences.Arix Bioscience plc

We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors.

is listed on the Main Market of the . For further information, please visitArix Bioscience plcLondon Stock Exchangewww.arixbioscience.com

and and Option Collaboration to Advance HPN217, Harpoon’s BCMA-Targeting TriTAC, and Expand Existing Discovery CollaborationHarpoon TherapeuticsAbbVie Announce Licensing®

Harpoon grants AbbVie option to license worldwide rights to HPN217 (BCMA), a TriTAC for the treatment of multiple myeloma planned for IND filing this year

 ExpandedTriTACdiscovery collaboration includes up to six additional targets selected by AbbVie

Two agreements provide for a total of in upfront and up to in a contingent milestone payment for first patient treated with HPN217 in a clinical trial$50 million$50 million

- (NASDAQ: HARP), a clinical-stage immunotherapy company developing a novel class of T cell engagers, and (NYSE: ABBV), a global biopharmaceutical company, today announced an exclusive worldwide option and license transaction for HPN217, Harpoon’s B cell maturation antigen (BCMA)-targeting Tri-specific T cell Activating Construct (TriTAC®), and an expansion of their existing discovery collaboration for up to six additional targets. These agreements build upon the discovery collaboration established by the two companies in and are expected to advance and broaden the use of Harpoon’s proprietary TriTAC platform. The TriTAC platform produces novel T cell engagers targeting both solid tumors and hematologic malignancies.  and ,SOUTH SAN FRANCISCO, Calif.NORTH CHICAGO, Ill.November 21, 2019Harpoon Therapeutics, Inc.AbbVie Inc.October 2017

“Harpoon has built a unique and proprietary biologics platform that utilizes the cancer patient’s own immune system to attack cancer. HPN217, targeting BCMA, is poised to advance to clinical development for the treatment of multiple myeloma”, stated , Ph.D., President and Chief Executive Officer of Harpoon. “We believe AbbVie is the ideal partner for Harpoon to support the advancement of our BCMA program given the commercial focus of AbbVie in the treatment of this cancer. In addition, we look forward to expanding our discovery collaboration to include up to six additional molecular targets.”Gerald McMahon

“Harpoon’s BCMA TriTAC holds promise for myeloma patients, and their novel drug development engine, combined with AbbVie’s development expertise, has the potential to generate innovative new medicines for patients with cancer,” said , Ph.D., Vice President, Head, and AbbVie Bay Area Site Head. “Our collaboration with Harpoon has been productive and we look forward to further strengthening this collaboration.”Mohit TrikhaOncology Early Development

Relating to the HPN217 license agreement, , M.D., Chief Medical Officer of notes, “As our pipeline of initial TriTAC clinical candidates advance in prostate and ovarian cancers, we are thrilled to partner with AbbVie in pursuit of therapies geared towards hematologic cancers. With our efforts and expertise combined, we look forward to the initiation of our planned Phase 1/2 clinical trial with HPN217 in patients with multiple myeloma.”Natalie SacksHarpoon Therapeutics

Under the terms of the license and option agreement, Harpoon granted to AbbVie an option to license worldwide exclusive rights to HPN217. Harpoon will be responsible for development of HPN217 through Phase 1/2 clinical trials. Upon exercise of the option, AbbVie will conduct all future clinical development, manufacturing and commercialization activities. AbbVie may exercise its option to license HPN217 after completion of the Phase 1/2 clinical trial. The license and option agreement represents a potential transaction value of up to in upfront, option and milestone payments, plus royalties on global commercial sales.$510 million

Under the terms of the expanded discovery collaboration agreement, AbbVie will receive worldwide exclusive rights to develop and commercialize two new TriTAC molecules engineered for two selected targets. AbbVie has the option to select up to four additional targets for a total of up to six new targets. For each selected target under the Amended Discovery agreement, Harpoon is eligible to receive up to in upfront and potential development, regulatory and commercial milestone payments, plus royalties on global commercial sales. Consistent with the existing discovery collaboration agreement, Harpoon and AbbVie will conduct certain initial research and discovery activities for each designated target, after which AbbVie will be solely responsible for further development and commercialization efforts.$310 million

AboutHarpoon Therapeutics

is a clinical-stage immunotherapy company developing a novel class of T cell engagers that harness the power of the body’s immune system to treat patients suffering from cancer and other diseases. T cell engagers are engineered proteins that direct a patient’s own T cells to kill target cells that express specific proteins, or antigens, carried by the target cells. Using its proprietary Tri-specific T cell Activating Construct (TriTAC) platform, Harpoon is developing a pipeline of novel TriTACs initially focused on the treatment of solid tumors and hematologic malignancies. Harpoon’s first product, HPN424, targets PSMA and is in a Phase 1 trial for metastatic castration-resistant prostate cancer. Harpoon’s second product, HPN536, targets mesothelin and is in a Phase 1/2a trial for cancers expressing mesothelin, initially focused on ovarian and pancreatic cancers. For additional information about , please visit .Harpoon TherapeuticsHarpoon Therapeutics®www.harpoontx.com

About AbbVie

is a global, research and development-based biopharmaceutical company committed to developing innovative advanced therapies for some of the world's most complex and critical conditions. The company's mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at . Follow on Twitter, , or .AbbVie Inc.www.abbvie.com@abbvieFacebookLinkedInInstagram

Forward-Looking Statements

:Harpoon Therapeutics

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect,” “plan,” “anticipate,” “target,” “estimate,” “intend” and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Harpoon Therapeutics’ expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties that could cause Harpoon Therapeutics’ clinical development programs, future results or performance to differ significantly from those expressed or implied by the forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the timing of IND submissions, the progress, timing, scope and anticipated results of clinical trials, the timing of the presentation of data, the association of data with potential treatment outcomes, the development and advancement of product candidates, and the timing of development milestones for product candidates. Many factors may cause differences between current expectations and actual results, including unexpected safety or efficacy data observed during clinical studies, clinical trial site activation or enrollment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, the uncertainties and timing of the regulatory approval process, and unexpected litigation or other disputes. Other factors that may cause Harpoon Therapeutics’ actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Harpoon Therapeutics’ filings with the , including the “Risk Factors” sections contained therein. Except as required by law, assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.U.S. Securities and Exchange CommissionHarpoon Therapeutics

AbbVie:

Some statements in this news release are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements. AbbVie cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, competition from other products, challenges to intellectual property, difficulties inherent in the research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our industry. Additional information about the economic, competitive, governmental, technological and other factors that may affect AbbVie's operations is set forth in Item 1A, "Risk Factors," of AbbVie's 2018 Annual Report on Form 10-K, which has been filed with the . AbbVie undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.Securities and Exchange Commission

Contacts:

, Inc.                                                      AbbVieHarpoon Therapeutics

Georgia Erbez                                                                           Media:

Chief Financial Officer                                                             Adelle Infante

650-443-7400                                                                            847-938-8745

                                                            [email protected][email protected]

Westwicke ICR                                                                         Investors:

Robert H. Uhl                                                                           Liz Shea

Managing Director                                                                    847-935-2211

858-356-5932                                                                           [email protected]

[email protected]

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