SHANGHAI,Feb. 25,2025 -- CARsgen Therapeutics Holdings Limited (Stock Code: 2171.HK,"CARsgen Therapeutics"),a company focused on innovative CAR T-cell therapies for the treatment of hematologic malignancies and solid tumors,announces reaching agreements with an investment fund managed by Zhuhai Hengqin SB Xinchuang Equity Investment Management Enterprise (Limited Partnership) ("Zhuhai SB Xinchuang") to jointly invest in UCARsgen Biotech Limited ("UCARsgen"),a China-based new drug discovery biotechnology company focused on allogeneic CAR-T cell therapies for the treatment of hematologic malignancies.

Under the agreements,UCARsgen has secured the exclusive rights in mainland China for the research,development,manufacture,and commercialization of the following allogeneic CAR-T products from CARsgen Therapeutics: the BCMA-targeted allogeneic CAR-T cell therapy for the treatment of multiple myeloma and plasma cell leukemia and the CD19/CD20 dual-targeted allogeneic CAR-T cell therapy for the treatment of B-cell malignancies. An investment fund managed by Zhuhai SB Xinchuang (currently undergoing registration and filing procedures) subscribed to the newly increased registered capital of UCARsgen for a consideration of RMB 80,000,thus retaining an 8% equity stake in the registered capital of UCARsgen upon completion of the transaction,equity stake of CARsgen Therapeutics in UCARsgen will be diluted from 100% to 92%.

About CARsgen Therapeutics Holdings Limited

CARsgen is a biopharmaceutical company with operations in China and the U.S.,focusing on innovative CAR T-cell therapies for the treatment of hematologic malignancies and solid tumors. CARsgen has established a comprehensive CAR T-cell research and development platform that covers target discovery,innovative CAR T-cell development,clinical trials,and commercial-scale production. Internally,CARsgen has developed novel technologies and a product pipeline with global rights to address significant challenges faced by existing CAR T-cell therapies. Efforts include improving safety profile,enhancing the efficacy in treating solid tumors,and reducing treatment costs. CARsgen's mission is to become a global biopharmaceutical leader that provides innovative and differentiated cell therapies for cancer patients worldwide and makes cancer curable.

Forward-looking Statements

All statements in this press release that are not historical fact or that do not relate to present facts or current conditions are forward-looking statements. Such forward-looking statements express the Group's current views,projections,beliefs and expectations with respect to future events as of the date of this press release. Such forward-looking statements are based on a number of assumptions and factors beyond the Group's control. As a result,they are subject to significant risks and uncertainties,and actual events or results may differ materially from these forward-looking statements and the forward-looking events discussed in this press release might not occur. Such risks and uncertainties include,but are not limited to,those detailed under the heading "Principal Risks and Uncertainties" in our most recent annual report and interim report and other announcements and reports made available on our corporate website,https://www.carsgen.com. No representation or warranty is given as to the achievement or reasonableness of,and no reliance should be placed on,any projections,targets,estimates or forecasts contained in this press release.