The transaction will be settled in cash and shares. Teresa's shareholders will swap for about 1.5% equity in Immuno Cure while the inventor of Teresa's EP technology, Professor XU Yuhong (徐宇虹), maintains her 7.4% direct equity in Teresa.

Teresa EP device delivers brief electrical pulses to promote efficient penetration of DNA vaccine through cell membrane for the enhancement of gene expression and ultimate immune responses. It is the only such device approved by National Medical Products Administration for the administration of DNA vaccine in China. Such EP technology has been an integral part of Immuno Cure's DNA vaccine delivery strategy from research to clinical stage.

Founded in 2004, Shanghai Teresa is an innovative medical device group focusing in electro immunotherapies and rehabilitation therapies. In 2005, Teresa's electroporation technology was developed to enhance the delivery of DNA medicine, based on the intellectual property generated by Shanghai Jiao Tong University under the National 863 Project. Such EP technology has been proven safe and efficacious after deployment of over 10,000 times in collaboration with more than thirty hospitals for the administration of DNA medicine in numerous human trial subjects.

Immuno Cure has two PD-1-Enhanced DNA vaccines currently in phase 1 clinical trial for prevention of COVID-19 and therapeutic cure of HIV/AIDS.

Dr JIN Xia, CEO of Immuno Cure said, "Immuno Cure has partnered with Teresa over the years in developing customised EP delivery strategy for our PD-1-Enhanced DNA vaccines, which has brought about encouraging results in clinical setting recently. I am pleased with this convergence with Teresa, which will no doubt bring our teams even closer together. Teresa will continue to operate independently while leveraging on Immuno Cure's R&D platform for the development of their next generation non-invasive EP technology for intradermal delivery strategy. Immuno Cure is committed to support the continual growth and success of Teresa."

Ms. CHEN Liye, CEO of Teresa said, "Founded on our long term collaboration, Teresa is excited to become a member of Immuno Cure Group. This move will not only provide us with a much closer R&D relationship, which is essential for our technology advancement but also offer us the financial capability to meet future needs. Teresa treasures our collaborations with other players in the field and look forward to continuing our collaborations with new and sustainable EP technology."

Professor CHEN Zhiwei, Director of AIDS Institute at the University of Hong Kong and the Principal Scientific Advisor of Immuno Cure said, "Our research and development work at the AIDS Institute and Immuno Cure has benefitted from Teresa's EP technology and their diligent collaborative effort over the past 12 years. I am pleased to see their relationship developing into an even closer tie. Look forward to the development of the next generation of EP technology for further optimisation of delivery strategy and patient experience."

Dr Percy CHENG, Chairman of Immuno Cure concludes, "This transaction offers Immuno Cure the opportunity to secure Teresa's EP technology for support of not only R&D but also the clinical administration of our PD-1-Enhanced DNA vaccines. We are pleased with Professor XU's decision to remain as our co-investor in Teresa and are optimistic in the future of EP technology in our DNA vaccine development."Hashtag: #ImmunoCureBiotech

The issuer is solely responsible for the content of this announcement.

Immuno Cure BioTech

Immuno Cure BioTech is a clinical stage biotechnology group based in the Hong Kong Science Park, focusing on research and development of vaccines and immunotherapies for cancers, inflammatory and infectious diseases based on its patented PD-1-Enhanced DNA vaccine and Anti-Δ42PD1 Blocking Antibody technology platforms.

To learn more about Immuno Cure BioTech, please visit www.immunocure.hk

Shanghai Teresa Healthcare

Founded in 2004, Shanghai Teresa is an innovative medical device group based in Shanghai Zhangjiang Hi-Tech Park, focusing in electro immunotherapies and rehabilitation therapies.

To learn more about Shanghai Teresa Healthcare, please visit
http://www.e-teresa.com
http://www.teresabio.com