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Transgene Completes the Sale of the Greater China Rights of TG6002 and TG1050 to Tasly Biopharmaceuticals for $48 Million in Newly-Issued Shares

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Regulatory News:

Transgene (Paris:TNG), a biotech company that designs and develops
virus-based immunotherapies against cancers and infectious diseases,
today announces the completion of the transactions signed with Tasly
Biopharmaceuticals. Co. Ltd.
("Tasly Biopharmaceuticals") on July
10, 2018. These agreements demonstrate the significant potential of the
novel oncolytic virus TG6002 and the chronic hepatitis B therapeutic
vaccine TG1050, on which the regional products T6011
and T1011 are based. T601 and T101 are now being
developed by Tasly Biopharmaceuticals for patients in Greater China2.

All closing conditions including completion of the administrative
transfer of the assets contributed by Transgene to Tasly
Biopharmaceuticals have been completed and 27.4 million newly-issued
shares of Tasly Biopharmaceuticals valued at $48 million have been
delivered to Transgene.

As a result of the transactions, Transgene holds approximately 2.53% of
the outstanding capital of Tasly Biopharmaceuticals, which announced its
intention to float on the Hong Kong Stock Exchange.
Tasly Biopharmaceuticals controls all research, development and
commercial rights to T601 and T101 in Greater China.

Transgene continues to develop TG6002 and TG1050 outside of Greater
China.

The details of the transactions are described in the press
release
distributed on July 10, 2018.

-End-

Notes to editors

About Transgene
Transgene (Euronext: TNG), part of
Institut Mérieux, is a publicly traded French biotechnology company
focused on designing and developing targeted immunotherapies for the
treatment of cancer and infectious diseases. Transgene's programs
utilize viral vector technology with the goal of indirectly or directly
killing infected or cancerous cells. The Company's lead clinical-stage
programs are: TG4010, a therapeutic vaccine against non-small cell lung
cancer, Pexa-Vec, an oncolytic virus against liver cancer, and TG4001, a
therapeutic vaccine against HPV-positive head and neck cancers. The
Company has several other programs in clinical development, including
TG1050 (a therapeutic vaccine for the treatment of chronic hepatitis B)
and TG6002 (an oncolytic virus for the treatment of solid tumors).
With
its proprietary Invir.IOTM, Transgene builds on its expertise
in viral vectors engineering to design a new generation of
multifunctional oncolytic viruses.
Additional information about
Transgene is available at www.transgene.fr.

Follow us on Twitter: @TransgeneSA

Disclaimer
This press release contains
forward-looking statements, which are subject to numerous risks and
uncertainties, which could cause actual results to differ materially
from those anticipated. There can be no guarantee that (i) the results
of preclinical work and prior clinical trials will be predictive of the
results of the clinical trials currently underway, (ii) regulatory
authorities will agree with the Company's further development plans for
its therapies, or (iii) the Company will find development and
commercialization partners for its therapies in a timely manner and on
satisfactory terms and conditions, if at all. The occurrence of any of
these risks could have a significant negative outcome for the Company's
activities, perspectives, financial situation, results and development.
For
a discussion of risks and uncertainties which could cause the Company's
actual results, financial condition, performance or achievements to
differ from those contained in the forward-looking statements, please
refer to the Risk Factors ("Facteurs de Risques") section of the
Document de Référence, available on the AMF website (http://www.amf-france.org)
or on Transgene's website (www.transgene.fr).
Forward-looking statements speak only as of the date on which they are
made, and Transgene undertakes no obligation to update these
forward-looking statements, even if new information becomes available in
the future.

1 T601 and T101 are products developed in China and
respectively incorporating Transgene's TG6002 and TG1050 patented
technologies.

2 Greater China rights cover
People's Republic of China, Taiwan, Hong Kong and Macau.

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