Bayer and RTW Co-Lead $162 Million Series D Financing in Jixing Pharmaceuticals to Advance Cardiovascular and Ophthalmology Pipeline

Berlin, Germany, New York, USA, and Shanghai, China, January 6, 2024 – Bayer and RTW Investments (hereinafter referred to as "RTW") today announced equity investments of $35 million and $127 million respectively in Ji Xing Pharmaceuticals (Shanghai) Co., Ltd. (hereinafter referred to as "Ji Xing"). Ji Xing is a clinical-stage biopharmaceutical company founded by RTW, dedicated to bringing innovative science and medicines to Chinese patients suffering from serious life-threatening diseases. Through this collaboration, Bayer will gain the right of first negotiation for the commercialization rights of Ji Xing's pipeline products in the cardiovascular and ophthalmology fields.

As representatives of the cooperating parties, Peter Fong (third from the right), Senior Managing Director and Head of Venture Incubation at RTW and Executive Director of the CORXEL Board; Yanping Mu (fourth from the right), Executive Director and CEO of CORXEL; Xiaolan Zhou (fourth from the left), Global Executive Vice President of Bayer AG’s Pharmaceuticals Division and President of Bayer Greater China; and Dr. Friedemann Janus (third from the left), Senior Vice President of Bayer Pharmaceuticals Division, Head of Global Regional Business Development and Open Innovation, attended the signing ceremony recently held in Shanghai.

This collaboration will fully leverage Bayer's extensive experience in the cardiovascular and ophthalmology fields, as well as its strong presence and influence in China. Bayer and CORXEL will establish a Joint Portfolio Strategy Committee to further explore additional potential business development opportunities. At the same time, Xiaolan Zhou, Global Executive Vice President of Bayer AG’s Pharmaceuticals Division and President of Bayer China, as well as President of Bayer Greater China, will join the board of directors of CORXEL.

Dr. Juergen Eckhardt, Member of the Global Executive Management Committee of Bayer's Pharmaceuticals Division, Head of Global Strategy, Business Development and Licensing & Open Innovation, and Head of Bayer's Impact Investment Initiative "Leaps by Bayer""We have always focused on medical fields with high unmet needs, and we strive to provide better services for patients. This collaboration with RTW is an important step in that direction. By investing in CORXEL, we will continue to expand our global cooperation network and strengthen Bayer's local influence in China."

Roderick Wong, Managing Partner and Chief Investment Officer of RTW"We are on an exciting growth trajectory at CORXEL. This is driven by a world-class R&D team with a unique understanding of how to most effectively deliver innovative therapies for complex diseases to millions of patients in China." "We believe CORXEL has the ability to fulfill its mission of bringing breakthrough treatments to millions of people in China."

Xiaolan Zhou, Global Executive Vice President of Bayer AG's Pharmaceuticals Division and President of Bayer China, and President of Bayer Greater China"I am very pleased to represent Bayer in joining the board of directors of CORXEL. We will fully leverage Bayer's long-standing industry leadership and commercial operational foundation established in China, work hand-in-hand with our partners, and strive to unlock the full innovative potential of the candidate drugs, bringing more health benefits to patients suffering from cardiovascular diseases and eye conditions."

Mou Yanping, Executive Director and CEO of CORXEL Board of Directors"We are pleased to establish a strategic partnership with Bayer, a leading multinational pharmaceutical company with strong influence in China," said CORXEL. "This milestone collaboration will enhance CORXEL's capabilities in new drug development and manufacturing from preclinical to commercial stages, enabling us to rapidly expand our global presence. We look forward to continuing to advance and deliver innovative therapies and solutions for patients."

Leaps by Bayer, Bayer's impact investment arm, co-led the Series D financing of CORXEL (incubated by RTW in 2019) with RTW.

Bayer, as a multinational enterprise, has core competencies in health and agriculture within the life sciences field. The company is committed to helping people overcome major challenges brought about by the continuous growth and aging of the global population through its products and services, benefiting humanity and the prosperous development of the planet. Bayer is dedicated to promoting sustainable development and positively impacting its business. At the same time, the group enhances profitability and creates value through technological innovation and business growth. Globally, the Bayer brand represents trust, reliability, and quality. In the 2022 fiscal year, Bayer had approximately 101,000 employees and sales of about 50.7 billion euros. Research and development investment, excluding special items, was approximately 6.6 billion euros. For more information, please seewww.bayer.com。

CORXEL is a biopharmaceutical company headquartered in Shanghai, China, dedicated to bringing innovative science and medicines to Chinese patients suffering from serious life-threatening diseases. Founded in 2019 with investment from RTW, CORXEL collaborates with multiple global biotechnology companies to address unmet medical needs in the cardiovascular and ophthalmology fields by developing and commercializing uniquely innovative therapeutic drugs. With a robust and expanding product pipeline, an experienced management team, and a patient-centered philosophy, CORXEL will bring lasting and profound impact to Chinese patients. CORXEL's cardiovascular pipeline includes three late-stage clinical development products (Aficamten, Etripamil, and Omecamtiv Mecarbil), as well as one preclinical product, JX09. CORXEL's ophthalmology pipeline includes four late-stage clinical development products (Varenicline Nasal Spray/U.S. trade name TYRVAYA, OC-02 Nasal Spray, JX06/LNZ100, JX07/LNZ101), and one preclinical product, JX08. For more information, please visitwww.jixing.com and "CORXEL" WeChat Official Account.

RTW Investments (hereinafter referred to as "RTW") is a global, full-life-cycle investment firm headquartered in New York, dedicated to uncovering transformative and disruptive innovations in biopharmaceuticals and medical technology. As a leading partner in the industry and academia, RTW combines deep scientific expertise with a solution-oriented investment approach to support emerging medical therapies, as well as the companies and academics developing these treatments. For more information about RTW, please visitwww.rtwfunds.com。

*Forward-Looking Statements

This press release includes forward-looking statements by the management of Bayer Group based on current assumptions and forecasts. Various known and unknown risks, uncertainties, and other factors could cause the company's actual operational results, financial condition, development, or performance to differ materially from the estimates made in the above forward-looking statements. These factors are disclosed in Bayer's various reports available on the company’s official website at www.bayer.com. Bayer does not have the obligation to update these forward-looking statements or align them with future events or developments.