AP306 is a first-in-class pan-phosphate transporter inhibitor in development for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) receiving dialysis

Alebund grants exclusive rights to develop, manufacture, and commercialize AP306 outside Greater China to R1 Therapeutics, a newly launched company backed by leading global kidney care providers and life sciences strategic and venture capital investors

The collaboration includes potential milestone payments of up to low triple-digit millions of U.S. dollars and tiered royalties in the low double-digit percentage range based on net sales of AP306 in the licensed territory

Alebund holds a substantial non-dilutive equity interest in R1, with the opportunity to participate in future commercial upside through dividends

Alebund Pharmaceuticals ("Alebund" or the "Company"), a leading renal-focused biopharmaceutical company, announced that it has entered into licensing and equity agreements (the "Agreements") with R1 Therapeutics, Inc. ("R1"). R1 is a newly launched clinical-stage biotechnology company that recently completed an oversubscribed Series A financing of $77.5M. R1 is backed by major global kidney care providers, DaVita, one of the largest kidney care providers globally, and U.S. Renal Care, the largest privately held dialysis provider in the United States and a syndicate of leading global venture capital investors.

Under the Agreements, Alebund has granted R1 an exclusive license to develop, manufacture, and commercialize AP306 outside Greater China (the "R1 Territory"). As part of the transaction, the aggregate financial terms include development, regulatory and commercial milestone payments of up to low triple-digit millions of U.S. dollars, and Alebund will share in the economics of AP306's success in the R1 Territory through tiered royalty payments in the low double-digit percentage range on net sales. In addition, Alebund holds a substantial non-dilutive equity interest in R1, with the opportunity to participate in future commercial upside through dividends. R1 will fund and lead the global clinical development of AP306, with Alebund as a collaborative development partner, including a global Phase 2b multi-regional clinical trial ("MRCT") in the U.S. and China planned to initiate later this year. Alebund and R1 will work together to accelerate the global development of AP306.

Gavin Xia, Ph.D., Co-Founder and CEO of Alebund Pharmaceuticals, commented:

"This collaboration validates the global potential of AP306 and represents an important milestone for Alebund. By partnering with R1, global kidney care providers, and financial investors, we can accelerate AP306's global development. With the support of R1, DaVita and U.S. Renal Care, we are well-positioned to capture the significant market potential in the United States. We look forward to working with the R1 team to bring this potentially transformative therapy to patients worldwide."

Krishna Polu, M.D., Co-Founder, President and CEO of R1 Therapeutics, commented:

"We are thrilled to launch R1 with the backing of world-class investors who share our conviction in the potential of AP306 to fundamentally change how hyperphosphatemia is managed. AP306 represents a new mechanistic approach - blocking the active transport of phosphorus rather than relying on traditional phosphate binding - and the Phase 2a data published in Kidney International Reports demonstrate compelling efficacy and tolerability. We look forward to advancing the global Phase 2b program in collaboration with Alebund and bringing AP306 to patients around the world."