Mabwell (688062.SH), an innovative biopharmaceutical company with entire industry chain, today announced the company has entered into a licensing and supply agreement with the Thailand pharmaceutical company Innobic (Asia) Co., Ltd. (“Innobic”), under which Innobic will register and market the product in Thailand. Innobic is a wholly owned subsidiary of PTT Public Company Ltd (formerly known as Petroleum Authority of Thailand), the state-owned enterprise and the largest company by market capitalization on Thailand Stock Exchange.

Mr. Huiguo Hu, the Board member and SVP of Mabwell, said: “Innobic is one of the fastest growing life science companies in Thailand, with several investments in global pharma companies and licensing deals. Mabwell is pleased to partner with Innobic to commercialize products in Thailand. This collaboration will strengthen Mabwell’s presence in one of the promising markets in the ASEAN markets and represents the approval of our product quality and high standard of clinical data of our products. This partnership will also benefit the patients in Thailand by providing high quality affordable medicines.”

Mr. Nat Ativitavas, the Managing Director of Innobic, said: “Partnership with Mabwell is an integral part of our strategy to develop further our business in Thailand. More than a contractual agreement, it is an embodiment of our shared commitment to the greater good, bringing affordable medicines to the patients of Thailand. Our values of excellence, quality healthcare, and patient-centricity will be the driving force behind the success of this endeavor.”

About INNOBIC (ASIA) CO., LTD.

Innobic is a Thailand-based Life Science Platform with primary focus on South East Asia, while reaching global opportunities. Innobic is a wholly owned subsidiary of PTT Public Company Ltd, the state-owned enterprise and the largest company by market capitalization on Thailand Stock Exchange. Being a national energy provider as well as multinational conglomerate, recently diversifies into new sectors, including Life Science, Renewables, and Electricity value chain. PTT currently has consolidated group revenues of over US$60 billion and market value US$33 billion.

PTT established Innobic to become a leading Life Science Platform in ASEAN with a primary focus on Pharmaceuticals, Medical Technology and Nutrition businesses.