EB-104

EMERYVILLE, Calif.--( BUSINESS WIRE )-- Estrella Immunopharma, Inc. (NASDAQ: ESLA, ESLAW) ("Estrella", “Estrella Immunopharma”, or the "Company"), a clinical stage biopharmaceutical company focused on developing CD19 and CD22-targeted ARTEMIS ® T-cell therapies to treat cancers and autoimmune diseases, today announced the appointment of Hong Zhang as Chairperson and a member of its Board of Directors. This appointment comes shortly after the Company dosed the first patient in its Phase I/II clinical trial (STARLIGHT-1) for EB103, an autologous T-cell therapy for adult patients with relapsed or refractory (R/R) B-cell Non-Hodgkin's Lymphoma (NHL). Ms. Zhang’s appointment increases the size of Estrella's Board from five to six directors. Dr. Cheng Liu, Estrella's Chief Executive Officer and previous Chairman, will continue to serve as a director on the Board. "Hong is a tremendous addition to our board, bringing extensive strategic leadership experience and financial expertise that will greatly benefit Estrella’s mission,” said Cheng Liu, Ph.D., President and CEO of Estrella. “Hong’s broad financial background will complement the strong science and business expertise already present on the board. I am confident that with Hong’s insights, the Company is well-positioned to continue advancing novel drug development.” “I am excited to join Estrella and work alongside such a dedicated team committed to making a real difference in the lives of patients,” said Ms. Zhang. “I look forward to contributing to the growth of Estrella.” Ms. Zhang is a highly accomplished executive with over 25 years of experience in financial and corporate strategy. Most recently, she served as Vice President at Incinta Medical Group Ltd., where she played a key role in establishing the company’s strong financial position and growth. Before that, Ms. Zhang simultaneously served as the Chairperson at Beijing Ocean Co-stone Capital Investment Management Company, and as Managing Director at Shenzhen Co-stone Venture Investment Management Company and oversaw fund management, risk control and investment. Earlier in her career, she held the position of Vice President at UOB Investment (China) Ltd., a private equity company. Ms. Zhang began her career in the legal division of Shandong High-Tech Investment Corporation Co. Ltd., a venture capital firm, working as a management counsel. In addition to her role at Estrella, Ms. Zhang currently has ownership of and serves on the board of Co-Fame Investment Management Co. Ltd. Ms. Zhang holds a Bachelor of Laws degree from Shandong University and a Postgraduate degree in Laws from China University of Political Science and Law. About Estrella Immunopharma Estrella is a clinical-stage biopharmaceutical company developing CD19 and CD22-targeted ARTEMIS ® T-cell therapies to treat cancers and autoimmune diseases. Estrella's mission is to harness the evolutionary power of the human immune system to transform the lives of patients fighting cancer and other diseases. To accomplish this mission, Estrella's lead product candidate, EB103, utilizes Eureka's ARTEMIS ® technology to target CD19, a protein expressed on the surface of almost all B-cell leukemias and lymphomas. Estrella is also developing EB104, which also utilizes Eureka's ARTEMIS ® technology to target not only CD19, but also CD22, a protein that, like CD19, is expressed on the surface of most B-cell malignancies. For more information about Estrella, please visit www.estrellabio.com . About EB103 EB103, a T-cell therapy and Estrella’s lead product candidate, also referred to as Estrella's "CD19-Redirected ARTEMIS ® T-Cell Therapy," utilizes ARTEMIS ® technology licensed from Eureka Therapeutics, Inc. ("Eureka"), Estrella's parent company. Unlike a traditional CAR-T cell, the unique design of an EB103 T-cell allows it to be activated and regulated upon engagement with cancer targets that use a cellular mechanism more closely resembling the one from an endogenous T-cell receptor. Once infused, EB103 T-cells seek out CD19-positive cancer cells, bind to these cells, and destroy them. EB103 is currently being evaluated in the STARLIGHT-1 Phase I/II clinical trial, which dosed its first patient in July 2024. This trial focuses on assessing the safety and efficacy of EB103 in adult patients with relapsed or refractory B-cell Non-Hodgkin's Lymphoma. Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements, including but not limited to those regarding the potential benefits and therapeutic advantages of EB103 and ARTEMIS ® T-cell therapy, the anticipated benefits of recent appointments to our board of directors, the anticipated progress and milestones of the STARLIGHT-1 Phase I/II clinical trial, and the future development plans for EB103, are based on our management’s current expectations, estimates, forecasts, and projections about the industry and markets in which we operate and our management’s current beliefs and assumptions. These statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “potential,” “predict,” “project,” “should,” “would” and similar expressions and the negatives of those terms. These statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other factors that could cause actual results, levels of activity, performance, or achievements to differ materially from those expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, among other things, those listed under “Risk Factors” and elsewhere in our filings with the Securities and Exchange Commission. The forward-looking statements in this press release represent our views as of the date of this press release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.

Estrella to Begin Trading on NASDAQ Under the Ticker Symbols "ESLA" and "ESLAW" Beginning October 2, 2023 NEW YORK, Sept. 29, 2023 /PRNewswire/ -- Estrella Immunopharma, Inc., formerly known as TradeUP Acquisition Corp. ("UPTD") (NASDAQ: UPTD, UPTDW, UPTDU), today announced the successful closing of its business combination with Estrella Biopharma, Inc. ("Estrella"), a preclinical-stage biopharmaceutical company developing T-cell therapies with the capacity to address treatment challenges for patients with blood cancers and solid tumors. The resulting combined company will operate under the name Estrella Immunopharma, Inc. and will be led by Estrella Founder and CEO Dr. Cheng Liu. The combined company's common stock and warrants will trade on NASDAQ under the symbols "ESLA," and "ESLAW," respectively, effective October 2, 2023. On or about October 2, 2023, all remaining UPTD units will separate into their underlying components, which consist of one share of combined company's common stock and one-half of one warrant. The transaction was approved by UPTD's stockholders at the special meeting held on July 31, 2023. Immediately prior to completion of the business combination, Estrella closed its Series A preferred stock financings with gross proceeds of $9.75 million and a short-term debt financing with gross proceeds of $0.30 million. Additionally, in conjunction with closing of the business combination, UPTD closed the previously announced private placement of UPTD common stock with gross proceeds of $10.00 million. Together, the business combination and the transaction financings provide the combined entity approximately $23.11 million available cash, after giving effect to UPTD stockholder redemption and before payment of transaction and offering expenses. "We are pleased to close this transaction and are committed to the continued advancement of our clinical programs," stated Dr. Liu, President and CEO of Estrella. "Our anti-CD19 ARTEMIS T-cell therapy has the potential to improve patient outcomes while reducing the risk of Cytokine Release Syndrome (CRS). This marks a critical advancement in the management of blood cancer treatments." "We are excited to have completed our Business Combination with Estrella, a company dedicated to resolving unmet medical demands. With this additional capital and the help of their highly experienced team, Estrella is well positioned to advance their pipeline programs into clinics and deliver long-term value to stockholders. Together, we look forward to seeing Estrella bring their novel therapeutics to fruition," added Mr. Weiguang Yang, Co-CEO of UPTD. Advisors US Tiger Securities, Inc. served as the financial advisor to UPTD. Robinson & Cole LLP acted as the legal advisor to UPTD. Winston & Strawn LLP acted as the legal advisor to Estrella. About Estrella Estrella Immunopharma, Inc. is a preclinical-stage biopharmaceutical company developing CD19 and CD22-targeted ARTEMIS® T-cell therapies with the capacity to address treatment challenges for patients with blood cancers and solid tumors. Estrella's mission is to harness the evolutionary power of the human immune system to transform the lives of patients fighting cancer. To accomplish this mission, Estrella's lead product candidate, EB103, utilizes Eureka's ARTEMIS® technology to target CD19, a protein expressed on the surface of almost all B-cell leukemias and lymphomas. Estrella is also developing EB104, which also utilizes Eureka's ARTEMIS® technology to target not only CD19, but also CD22, a protein that, like CD19, is expressed on the surface of most B-cell malignancies. Estrella is also collaborating with Imugene Limited and its product candidate, CF33-CD19t an oncolytic virus ("CF33-CD19t"), to research the use of EB103 in conjunction with CF33-CD19t to treat solid tumors using a "mark and kill" strategy. About UPTD TradeUP Acquisition Corp. was a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. UPTD was incorporated under the laws of the State of Delaware on January 6, 2021. Forward-Looking Statements This press release contains forward-looking statements, within the meaning of section 27A of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and section 21E of the U.S. Securities Exchange Act of 1934 ("Exchange Act") that are based on beliefs and assumptions and on information currently available to UPTD and Estrella. In some cases, you can identify forward-looking statements by the following words: "may," "will," "could," "would," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "project," "potential," "continue," "ongoing," "target," "seek" or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of Estrella's business plans, the sources and uses of cash from the business combination, the anticipated enterprise value of the combined company following the consummation of the business combination and anticipated benefits of the business combination are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of UPTD and Estrella believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of UPTD and Estrella caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, risks and uncertainties are described in the definitive proxy statement/prospectus relating to the business combination which has been filed by UPTD with the SEC and other documents filed by UPTD or Estrella from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Neither UPTD nor Estrella can assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to recognize the anticipated benefits of the business combination, costs related to the transaction, the impact of the global COVID-19 pandemic, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties, including those to be included under the heading "Risk Factors" in the definitive proxy statement/prospectus relating to the business combination, the final prospectus for UPTD's initial public offering filed with the SEC on June 19, 2021 and in its subsequent quarterly reports on Form 10-Q, annual reports on Form 10-K and other filings with the SEC. There may be additional risks that neither UPTD or Estrella presently know or that UPTD and Estrella currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by UPTD, Estrella, their respective directors, officers or employees or any other person that UPTD and Estrella will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent the views of UPTD and Estrella as of the date of this communication. Subsequent events and developments may cause those views to change. However, while UPTD and Estrella may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of UPTD or Estrella as of any date subsequent to the date of this communication. Corporate Contact: Investor Relations Estrella Biopharma, Inc. IR@estrellabio.com SOURCE TradeUP Acquisition Corp.