AP306 is a first-in-class pan-phosphate transporter inhibitor in development for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) receiving dialysis

Alebund grants exclusive rights to develop, manufacture, and commercialize AP306 outside Greater China to R1 Therapeutics, a newly launched company backed by leading global kidney care providers and life sciences strategic and venture capital investors

The collaboration includes potential milestone payments of up to low triple-digit millions of U.S. dollars and tiered royalties in the low double-digit percentage range based on net sales of AP306 in the licensed territory

Alebund holds a substantial non-dilutive equity interest in R1, with the opportunity to participate in future commercial upside through dividends

SHANGHAI, March 17, 2026 /PRNewswire/ -- Alebund Pharmaceuticals ("Alebund" or the "Company"), a leading renal-focused biopharmaceutical company, today announced that it has entered into licensing and equity agreements (the "Agreements") with R1 Therapeutics, Inc. ("R1"). R1 is a newly launched clinical-stage biotechnology company that recently completed an oversubscribed Series A financing of $77.5M. R1 is backed by major global kidney care providers, DaVita, one of the largest kidney care providers globally, and U.S. Renal Care, the largest privately held dialysis provider in the United States and a syndicate of leading global venture capital investors.

Under the Agreements, Alebund has granted R1 an exclusive license to develop, manufacture, and commercialize AP306 outside Greater China (the "R1 Territory"). As part of the transaction, the aggregate financial terms include development, regulatory and commercial milestone payments of up to low triple-digit millions of U.S. dollars, and Alebund will share in the economics of AP306's success in the R1 Territory through tiered royalty payments in the low double-digit percentage range on net sales. In addition, Alebund holds a substantial non-dilutive equity interest in R1, with the opportunity to participate in future commercial upside through dividends. R1 will fund and lead the global clinical development of AP306, with Alebund as a collaborative development partner, including a global Phase 2b multi-regional clinical trial ("MRCT") in the U.S. and China planned to initiate later this year. Alebund and R1 will work together to accelerate the global development of AP306.

Gavin Xia, Ph.D., Co-Founder and CEO of Alebund Pharmaceuticals, commented:

"This collaboration validates the global potential of AP306 and represents an important milestone for Alebund. By partnering with R1, global kidney care providers, and financial investors, we can accelerate AP306's global development. With the support of R1, DaVita and U.S. Renal Care, we are well-positioned to capture the significant market potential in the United States. We look forward to working with the R1 team to bring this potentially transformative therapy to patients worldwide."

Krishna Polu, M.D., Co-Founder, President and CEO of R1 Therapeutics, commented:

"We are thrilled to launch R1 with the backing of world-class investors who share our conviction in the potential of AP306 to fundamentally change how hyperphosphatemia is managed. AP306 represents a new mechanistic approach - blocking the active transport of phosphorus rather than relying on traditional phosphate binding - and the Phase 2a data published in Kidney International Reports demonstrate compelling efficacy and tolerability. We look forward to advancing the global Phase 2b program in collaboration with Alebund and bringing AP306 to patients around the world."

About AP306

AP306 is a first-in-class pan-phosphate transporter inhibitor in development for the treatment of hyperphosphatemia in patients with chronic kidney disease (CKD) receiving dialysis. Unlike conventional phosphate binders, AP306 works by inhibiting the active transport of phosphorus through three key phosphate transporters (NaPi-IIb, PiT-1, and PiT-2) in the gastrointestinal tract, representing a fundamentally new mechanism of action for managing hyperphosphatemia. AP306 was originally discovered by Chugai Pharmaceuticals Co., Ltd. and subsequently licensed to Alebund Pharmaceuticals, which has conducted clinical development of the compound, including a completed Phase 2a study in hemodialysis patients. Results published in Kidney International Reports demonstrated significant reduction in serum phosphate levels with good safety and tolerability. Data from the Phase 2a study has also been presented at the 61st European Renal Association (ERA) Annual Congress.

About R1 Therapeutics

R1 Therapeutics is a clinical-stage biopharmaceutical company focused on the development of first-in-class therapies for patients with kidney disease. Its lead program, AP306, targets hyperphosphatemia in patients with chronic kidney disease on dialysis, a condition associated with serious bone and cardiovascular complications and poorer outcomes when phosphate remains uncontrolled. AP306 is a first-in-class pan-phosphate active transport inhibitor designed to block three key phosphate transporters in the gut, with the potential to deliver rapid and effective phosphate lowering with a significantly reduced treatment burden. R1 has licensed exclusive global rights outside Greater China to AP306 from Alebund Pharmaceuticals and is advancing a global Phase 2b development program. R1 launched with an oversubscribed $77.5 million Series A financing in March 2026 co-led by Abingworth, DaVita Venture Group, and F-Prime, with participation from Curie.Bio, SymBiosis, and U.S. Renal Care. For more information, visit www.r1therapeutics.com and follow R1 on LinkedIn.

About Alebund Pharmaceuticals

Alebund Pharmaceuticals is a global leading renal-focused biopharmaceutical company with a vertically integrated platform encompassing R&D, manufacturing, and commercialization. The Company possesses the most comprehensive innovative renal portfolio in terms of indication coverage, with seven drug candidates and one commercialized product (Mircera®) targeting a broad range of renal indications including CKD complications (hyperphosphatemia, renal anemia), IgA nephropathy, diabetic kidney disease, FSGS, and ADPKD. Alebund holds global rights for its core pipeline assets, including AP301 (a best-in-class oral phosphate binder currently in global Phase 3), AP306, AP303 (a first-in-class dual PPAR agonist with FDA Orphan Drug Designation for ADPKD), and AP308 (a first-in-class IgA protease). The Company has completed construction of its manufacturing facility in Yangzhou, China, and has established a dedicated in-house commercialization team in China.

About DaVita

DaVita (NYSE:DVA) is a health care provider focused on transforming care delivery to improve quality of life for patients globally. As a comprehensive kidney care provider, DaVita has been a leader in clinical quality and innovation for more than 25 years. DaVita cares for patients at every stage and setting along their kidney health journey-from slowing the progression of kidney disease to helping support transplantation. This includes ensuring they are supported at home, in dialysis centers, in the hospital and in skilled nursing facilities. As of December 31, 2025, DaVita served approximately 295,000 patients at 3,242 outpatient dialysis centers, of which 2,657 centers were located in the United States and 585 centers were located in 14 other countries worldwide. DaVita has reduced hospitalizations, improved mortality, helped improve health access and worked collaboratively to propel the kidney care community to adopt a higher quality standard of care for all patients, everywhere. To learn more, visit DaVita.com/About.

About U.S. Renal Care

U.S. Renal Care, the largest privately held and fastest-growing dialysis provider in the nation, partners with nephrologists to care for more than 37,000 people living with kidney disease across 32 states in the U.S. Since 2000, U.S. Renal Care has been a leader in clinical quality, innovation, and operational excellence - delivering the best experience and outcomes for its patients. Visit USRenalCare.com to learn more.

Investor & Media Contact:

Alebund Pharmaceuticals

IR@alebund.com

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SOURCE Alebund Pharmaceuticals

Alebund Pharmaceuticals Announces Collaboration and License Agreement with R1 Therapeutics for AP306