The Board of Directors of Sino Biopharmaceutical Limited announces that on 22 March 2021, invoX Pharma Ltd, a wholly-owned subsidiary of the Company, entered into an agreement in relation to a 100% acquisition of SOFTHALE NV (“Softhale”) for US$110 million and additional payments related to regulatory and commercial milestones. Softhale is a privately owned Belgian company focused on the development of products for the treatment of respiratory diseases. Its next-generation Soft Mist Inhalation (“SMI”) device is based upon differentiated technology and allows for more efficient drug deposition into the lungs.