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Xcovery Announces First Cohort of Patients Dosed in a Phase 1/2 Clinical Trial of Vorolanib in Combination with Nivolumab for Treatment of Non-Small Cell Lung Cancer or Thymic Carcinoma

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Xcovery,
a developer of targeted therapeutics for cancer, today announced that
the first cohort of patients has been enrolled to the Phase 1/2 clinical
trial evaluating the safety and efficacy of the combination of vorolanib
(X-82) and nivolumab (Opdivo®) for the treatment of non-small
cell lung cancer (NSCLC) or thymic carcinoma. Vorolanib is Xcovery's
proprietary next-generation vascular endothelial growth factor receptor
(VEGFR) kinase inhibitor, while nivolumab is the first approved
anti-PD-1 monoclonal antibody, developed by Bristol-Myers Squibb. This
investigator-initiated trial is led by Dr. Leora Horn of the
Vanderbilt-Ingram Cancer Center.

"The initiation of this trial is a significant milestone as we move
forward in our mission to advance the treatment of cancer by developing
therapeutics that reduce side effects and optimize the efficacy of
cancer treatments for patients," said Lieming Ding, M.D., Chairman of
Xcovery. "We look forward to its initial results."

The Phase 1/2 open label study is designed to assess the safety and
response rate of vorolanib when administered in combination with
nivolumab. Refractory patients with NSCLC naïve to checkpoint inhibitor
therapy, NSCLC who have progressed on checkpoint inhibitor therapy, or
thymic carcinoma will be enrolled. Nivolumab is the first approved drug
in the class of checkpoint inhibitors that have demonstrated significant
benefits to many cancer patients in recent years. It works by activating
the patient's own immune system to attack the tumor. Vorolanib may
modulate the tumor microenvironment and potentiate the efficacy of
checkpoint inhibitors such as nivolumab.

"Despite the success of checkpoint inhibitors, there is a need for new
treatment modalities to expand the patient population who would benefit
from these immunotherapies and/or to overcome resistance to
immunotherapies," said Leora Horn, M.D., Associate Professor of
Medicine, Director Thoracic Oncology Research Program and Assistant Vice
Chairman for Faculty Development at Vanderbilt University. "The
vorolanib combination with nivolumab could be an interesting option."

For more information on the vorolanib (X-82) combination trial, please
visit ClinicalTrials.gov.
(Identifier: NCT03583086).

About Vorolanib
Vorolanib is a next generation VEGFR
inhibitor. It was designed to have reduced toxicities for combination
use. Vorolanib is being studied in advanced solid tumors including
non-small cell lung cancer, thoracic tumors, renal cell carcinoma, and
melanoma.

About Xcovery
Xcovery is a biopharmaceutical company working
to improve the lives of patients with cancer by discovering medicines to
fight advanced tumors. Xcovery is developing a pipeline of oncology
therapies to target a wide range of advanced tumors. For more
information, visit www.xcovery.com.

Forward‐Looking Statements
This press release contains
forward‐looking statements that are based on company management's
current beliefs and expectations and are subject to currently unknown
information, risks and circumstances and actual results may vary from
what is being currently projected.

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