Lee's Pharmaceutical Holdings Limited Acquires Staccato® One Breath Technology® Platform and Assets, Driving Pipeline Expansion and Advancing Global Partnership with UCB Through Acquired Rights

• Acquisition of Staccato® One Breath Technology®, a proprietary platform technology with broad therapeutic potential
• Synergistic and complementary to Lee's Pharm's existing products pipeline, and
• Acquisition of rights as licensor and manufacturer of Staccato® alprazolam under a global partnership with UCB

HONG KONG, Dec. 11, 2025 /PRNewswire/ -- Nova Pneuma Inc. ("NPI"), the Delaware incorporated and wholly owned subsidiary of Lee's Pharmaceutical Holdings Limited (0950.HK) ("Lee's Pharm" or the "Company"), announced today the assets acquisition from Alexza Pharmaceuticals, Inc. ("Alexza"). The transaction grants Lee's Pharm and NPI, the full ownership of the Staccato® One Breath Technology® ("Staccato® OBT®") platform and assets in relation to Staccato® OBT®, including intellectual property, know-how, trademarks, product pipeline, equipment, products and access to GMP facility, and Alexza's right as licensor and manufacturer of Staccato® alprazolam. This strategic move strengthens Lee's Pharm's aerosolized inhalation drug delivery capabilities, expands the Company's inhalation product pipeline, and aligns with the Company's global expansion strategy.

The transaction remains subject to certain closing conditions and is expected to close by the end of 2025.

Proprietary And Well-Validated Staccato® One Breath Technology®

The acquisition of the Staccato® OBT® platform represents a major step forward for the Company, granting full ownership of this technology platform which is a well-validated and proven platform supported by approved product, Adasuve®, and several Staccato® based late-stage development programs. This strategic move strengthens the Company's drug delivery capabilities and positions it to drive future innovation in inhalation therapeutics.

Synergistic and Complementary to Lee's Pharm's Existing Products Pipeline

The transaction also delivers significant synergies with the Company's existing pipeline. The Company has been advancing its clinical development of Staccato® based medicine for cancer-related breakthrough pain and started commercializing Adasuve® for acute agitation in adult schizophrenia or bipolar I disorder across Greater China. Upon completion of the acquisition, all licensing payment obligations payable thereafter by Lee's Pharm to Alexza for the development and commercialization of Staccato® based medicine and Adasuve®, will be eliminated, delivering immediate cost savings and enhancing overall deal economics.

In addition, two promising CNS pipeline assets targeting Parkinson's disease and Cyclic Vomiting Syndrome (CVS), both at Phase 2 clinical stage, will be integrated into the Company's portfolio, unlocking new commercial opportunities.

Acquisition of Rights as Licensor and Manufacturer of Staccato® alprazolam Under a Global Partnership With UCB

Complementing these benefits, the Company acquires Alexza's rights and obligations under the existing worldwide licensing and manufacturing supply agreement with UCB, a biopharmaceutical with strong presence in epilepsy treatment. Under this agreement, UCB holds and will keep global development and commercialization rights for Staccato® alprazolam, which is currently in Phase 3 clinical trial (CinicalTrial.gov ID: NCT05077904), reinforcing the clinical maturity and commercial potential of the Staccato® OBT® platform. UCB acquired Engaged Therapeutics, Inc. for Staccato® alprazolam in June 2020 and entered into an updated license and related commercial supply agreement with Alexza.^[1]

Subject to achieving specified development, regulatory, and sales milestones, Lee's Pharm together with NPI may receive milestone payments totalling up to US$60.5 million, along with tiered royalties on global net sales of Staccato® alprazolam, in addition to manufacturing revenue from worldwide supply of Staccato® alprazolam.

Note: [1] Source of reference: https://www.ucb.com/newsroom/press-releases

"Acquiring the Staccato® OBT® platform is a transformative step for Lee's Pharm, reinforcing our commitment to innovation in inhalation therapeutics targeting CNS and neurodegenerative disorders, and expanding our global footprint." said Dr. Benjamin Li, Founder and Director of Lee's Pharmaceutical Holdings Limited. "This transaction not only strengthens our pipeline and inhalation R&D capabilities but also creates new revenue streams through the strategic partnerships with UCB."

" We are delighted to partner with UCB as it commits and advances solutions to address critical unmet needs in epileptic seizure therapy. This transaction not only delivers near-term financial benefits but also positions us for sustained growth in high-value therapeutic areas, marking a significant milestone in the Company's global expansion strategy." said Ms. Wanee Lee, Managing Director of Lee's Pharmaceutical Holdings Limited.

"Under the new leadership, our team is energized to continue collaborating closely with UCB and to ensure the reliable manufacture of meaningful therapy for patients with significant unmet needs. We are equally excited about the opportunity to bring additional Staccato® based medicines to patients around the world, strengthening our shared commitment to improving lives through innovative science." said Dr. Wolfgang Schmidt, SVP Manufacturing and Operations at NPI.

About Lee's Pharmaceutical Holdings Limited

The Company is a research-driven and market-oriented biopharmaceutical company with more than over 30 years of operation' experience in the pharmaceutical industry in China. The Company is fully integrated with solid infrastructures in drug development, clinical development, regulatory, manufacturing, sales and marketing based in Mainland China with global perspectives. The Company has established extensive partnerships with around 30 international companies and currently markets over 25 proprietary, generic and licensed-in pharmaceutical products in Mainland China, Hong Kong, Macau and Taiwan. The Company focuses on several key disease therapeutic areas such as cardiovascular health, woman's health, paediatrics, rare diseases, oncology, dermatology and obstetrics.

More information available at www.leespharm.com.

About Staccato® One Breath Technology®

The Staccato® One Breath Technology® is a unique and highly differentiated drug delivery technology that delivers excipient free drug as fast as intra-venous injection, but non-invasively, resulting in rapid onset of therapeutic effect. It is best positioned for treatment of acute conditions that require quick relief. The ability of the technology with the combination of different molecules to give response to unmet medical needs in an innovative manner has been well proven in large number of clinical studies with different compounds and across number of indications.

The proprietary technology is well protected by large numbers of patents across different therapeutic areas.

More information available at https://staccatoobt.com.

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