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We would like to express our sincere gratitude to our shareholders for their interest in the 2022 extraordinary general meeting of shareholders held on

July 22 and would like to share the contents of the Q&A we received at the site.

Q1. Does the GMP facility to be built meet overseas standards?

The new GMP facility will be built as a facility that meets cGMP and international standards.

Q2. The results of Phase 2 clinical trial are scheduled to be announced, are there any L/O plans?

For global L/O to succeed, at least phase 2 clinical outcome data must be produced.

We are planning to announce the results of Phase 2 clinical trial according to the schedule below.

End of August 2022: Announcement of results of phase 2a of moderate-severe acute pancreatitis 

1st half of 2023: Moderate-severe atopic dermatitis Phase 2 results to be announced

We plan to conduct global L/O negotiations with global pharmaceutical companies according to the above schedule for the announcement of results.

Q3. Is there a plan for the 3 billion won in sales that should be achieved within 2025?

We are preemptively building a revenue generation model that matches the capabilities of each division.

[Research & Business Innovative Development Division]

- Generating profits from overseas research services and securing a global research network

- Overseas sales of cosmetics (acquired good market study results for more than 6 months with Malaysia, generated sales in the second half of 22nd)

- Technology transfer (L/O) revenue generation (according to the announcement of the results of phase 2 clinical trials)

[Advanced Therapeutic Medicinal Products Division]

- Sales of 3 therapeutics in the clinical pipeline (planned for 25 years)

[ESG Management Division]

- ESG consulting revenue generation for rare diseases, diversification of capital network

Q4. CoImmune update

Although uncertainty in the global financial market continues, it is said to have improved compared to the second half of 2021.

The previously announced target of an IPO in 2023 has not changed. For bio companies that do not generate sales in a short period, the size of the financing at the time of IPO is very important.

This is because even with the same technology, the amount of financing can vary greatly depending on the IPO market conditions. Therefore, it can be seen as a reasonable strategy for the company to strategically select the time of IPO by CoImmune.

Unfortunately, at present, we are not able to participate in the CoImmune board of directors, and Genexine is participating in the board of directors. So we will continue to update it by discussing it well with Genexine.

Q5. Company operation direction of new CEO

The current CEO is the best understanding of the founder's vision and the company's situation as he actively supported the adult stem cell project, which was the birthplace of our company when he was concurrently serving as the medical deputy director of Inha University Hospital and the head of the clinical medicine research institute.

Based on his rich experience in the hospital field, he will present effective strategies for clinical trials, market awareness for therapeutics, and strategies to secure strategic advantage.

More detailed information can be found through an interview with the new CEO at a later date.