In our statement dated August 5, 2021, we mentioned in summary that our subsidiary, EİP Eczacıbaşı İlaç Pazarlama A.Ş. (EİP), has signed a licensing and supply agreement ("Agreement") with the United States of America (USA) based Sesen Bio ("Sesen Bio") Inc. for the marketing and sales rights of the drug with the brand name "Vicineum" in Türkiye and the Turkish Republic of Northern Cyprus, that the process of registration of the drug subject to the Agreement with the Food and Drug Administration (FDA) was ongoing; in our statement dated August 16, 2021, we mentioned that the FDA responded to the application of the drug product Vicineum with a deficiency letter on August 13, 2021; in our statement dated December 10, 2021, we mentioned that according to the Type A meeting between the FDA and Sesen Bio Inc., Sesen Bio Inc. should conduct an additional clinical trial in order to file an approval application again with the FDA; and in our statement dated March 31, 2022, we mentioned that the Phase III study protocol and the majority of the statistical analysis plans were agreed upon the Type C meeting held with the FDA on March 28, 2022, and that for any articles that remained open, further discussions with FDA were planned in the subsequent months; in our statement dated March 10, 2022, we mentioned that in order to align the agreement signed with Sesen Bio on August 5, 2021 with the changing conditions, the amendment protocol dated May 9, 2022 was executed in which the upfront payment of USD 1.5 million was linked to obtaining FDA approval, and provisions were included in the agreement regarding the right of termination of the agreement by EİP in case of failure to obtain FDA approval and the necessary public announcements will be made on the steps becoming certain in the FDA approval procedures. 

According to the information shared this time, Sesen Bio has decided to cease the clinical development studies of the "Vicineum" branded drug in the USA voluntarily and to evaluate strategic partnership alternatives in order to continue working on the development of the product. At this stage, the additional protocol provisions that we stated in our statement dated May 10, 2022 continue, and in case of a material change in the scope of the agreement and/or obtaining final approval from the FDA for the Vicineum branded drug, necessary disclosures will be made to the public.

This statement has been translated into English for informational purposes. In case of a discrepancy between the Turkish and the English versions of this disclosure statement, the Turkish version shall prevail.