HONG KONG, 24 November 2025 – Zhaoke Ophthalmology Limited (“Zhaoke Ophthalmology”, “Zhaoke” or the “Company”, SEHK: 6622), a leading ophthalmic pharmaceutical company, is pleased to announce that on 18 November 2025, the Company’s Investigational New Drug (“IND”) application of PAN-90806 eye drop, for the treatment of wet (neovascular) age-related macular degeneration (“wAMD”), was approved by the National Medical Products Administration (the “NMPA”) of China.

In addition, Zhaoke is delighted to announce that on 19 November 2025, the Company also received marketing authorization from the NMPA for Epinastine HCl eye drop, which is designed to treat allergic conjunctivitis.

Dr. Li Xiaoyi (Benjamin), Chairman of the Board, Executive Director and CEO of Zhaoke Ophthalmology, commented, “These milestones reinforce our commitment to long-term innovation and sustainable growth. The marketing authorization for Epinastine HCl eye drop expands our commercial portfolio and enables us to address the needs of patients with allergic conjunctivitis. While we remain focused on advancing near-commercial products, it is equally important for us to cultivate a strong future pipeline. PAN-90806, our second innovative back-of-eye drug candidate, represents a meaningful step forward in our strategy for retinal diseases. As an early-stage program, it also reflects our ability to conduct proprietary research from the ground up. With a rich and dynamic pipeline, we are not only excited about upcoming commercialization opportunities but also deeply encouraged by the momentum of our earlier-stage innovations that will support the company’s future.”

About PAN-90806

PAN-90806, an anti-VEGF agent for wAMD, is a novel eye drop formulation. It is a small-molecule compound with optimal physicochemical properties to allow for topical delivery. If approved as a maintenance therapy, PAN-90806 will bring significant convenience and a less invasive treatment alternative for patients, reducing the frequency of intravitreal injections and other treatment issues associated with mainstream anti-VEGF therapies while at the same time maintaining visual stability. PAN-90806 is expected to significantly reduce treatment discontinuation, and therefore slow underlying disease progression through improved patient comfort, acceptance, convenience and compliance.

About wAMD

wAMD is a leading cause of vision loss and blindness in people over 50 years old in China and globally. According to China Insights Consultancy the market size of wAMD drugs in China is forecast to increase from US$241.5 million to approximately US$3.5 billion from 2019 to 2030, at a CAGR of 27.5%.

About Epinastine HCl

Epinastine HCl is an epinastine eye drop for the treatment of allergic conjunctivitis, with a dual mechanism of action of anti-histamine and mast cell stabilization. It is the first-line therapy for allergic conjunctivitis in China, especially for acute patients. Our epinastine HCl is a generic to Elestat, which was developed by Allergan.

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