Therapure Biopharma Inc. Announces Spin Off and Sale of Contract Development and Manufacturing Business for US$290 Million

Therapure Biopharma Inc. (“Therapure” or the “Company”) today announced that a joint venture between 3SBio Inc. (HKG:1530) (“3SBio”), a leading global biotechnology company, and CPE Funds (investment funds advised by CITICPE) (“CITICPE”) has entered into an agreement to acquire Therapure’s contract development and manufacturing (CDMO) business and certain rights to plasma products and technology for the Chinese market for US$290 million, subject to certain adjustments.

The CDMO business will continue to operate under the Therapure brand and be led by Therapure’s CEO Nick Green and the current senior management team at its manufacturing facilities located in Mississauga, Ontario. The Catalyst Capital Group Inc. (“Catalyst”) will retain ownership of, and will support future investments in, Therapure’s plasma protein and therapeutic products business under a separate entity (“ProductsCo”). The joint venture between 3SBio and CITICPE will contribute at least an additional C$20-25 million to ProductsCo under the terms of the agreement to be used for the construction of a new commercial facility.

This new relationship with 3SBio and CITICPE provides the CDMO business access to greater mammalian cell and downstream purification manufacturing capabilities and a broader geographic reach. In addition, it also provides strategic support for the expansion of the CDMO business and facilities, providing employees and stakeholders with greater opportunities in Canada.

This transaction will also form a strategic partnership between Catalyst, 3SBio and CITICPE. Operationally the CDMO business will continue to produce clinical material with the team’s leading expertise in plasma proteins manufacturing in the existing facilities and will construct a new commercial facility on behalf of ProductsCo for the manufacture of its plasma proteins commercial portfolio. This transaction allows ProductsCo to focus on the clinical development and commercialization of its plasma proteins products in high growth markets, initially in the US and Canada. In addition, it leverages 3SBio's knowledge and expertise in commercializing Therapure’s PlasmaCap EBA(tm) technology in the Chinese market.

"This transaction is exciting for the future of Therapure and for the Canadian biopharma industry," said Nick Green, President and Chief Executive Officer of Therapure. "It will be a powerful enabler for further growth and expansion of both 3SBio and Therapure in high growth areas of the market through our combined capabilities. This will put us in a stronger position to lead, innovate and grow, and further support our current and future clients."

"Therapure is a business that we started from scratch and through a focused corporate strategy and discipline we have built the leading Canadian biomanufacturing operator and established a great product pipeline that is entering a new value creation stage as an independent company,” said Gabriel de Alba, Chairman of Therapure and Managing Director and Partner at Catalyst. “We are very excited about the ongoing business and investment relationship with 3SBio and CITICPE and look forward to product commercialization in China and to jointly expanding manufacturing capabilities in Canada and globally with 3SBio and CITICPE as new partners. For the products business, which we believe is also a high growth opportunity, we are focused on the next stage of value creation through strategic alternatives that, among other options, may include an initial public offering."

"As part of our global expansion strategy, the addition of Therapure’s CDMO business represents an important milestone for 3SBio and we look forward to working with the talented and experienced Therapure CDMO team to further expand the business in Canada, North America, and elsewhere," said Dr. Jing Lou, Chairman and CEO of 3SBio. “The collaboration with Therapure’s CDMO business is exciting and we expect to create significant technological, operational and revenue synergies between 3SBio and Therapure’s CDMO business.”

Following 3SBio shareholders' approval, the acquisition is expected to be completed by the end of this year.

Advisors

Wells Fargo Securities served as exclusive financial advisor to Therapure.

About Therapure Biopharma, Inc.

Therapure Biopharma Inc. is an integrated biopharmaceutical company focused on complex biological therapeutics and technologies that can provide new options for patient care. Therapure Biopharma Inc. has two divisions: Therapure Biomanufacturing and its product division comprised of Therapure Biologics (plasma derived product) and Therapure Innovations (drug discovery and product development).

Therapure Biopharma Inc. operates out of two facilities located in Mississauga, Ontario: a 130,000-square foot cGMP facility that includes biomanufacturing, research and quality control laboratories and is built to meet FDA (US), HPFB (Canada), EMA (Europe) and MHRA (UK) standards, and a new 43,000 square foot facility housing 30,000 square feet of cGMP warehouse. For more information on Therapure Biopharma Inc., please visit www.therapurebio.com.

About Therapure Biomanufacturing

Therapure Biomanufacturing is a global contract development and manufacturing organization (CDMO) offering integrated services for developing, manufacturing, purifying and packaging complex biological therapeutics. Its scientific and manufacturing expertise, as well as its flexible state-of-the-art cGMP facility, provide clients with optimal biomanufacturing solutions to advance their biotherapeutics from discovery to market. For more information on Therapure Biomanufacturing, please visit www.therapurebio.com/CDMO.

About The Catalyst Capital Group Inc.

The Catalyst Capital Group Inc., a private equity investment firm with more than $6 billion in assets under management founded in 2002, is a leader in operationally focused turnaround investing. The firm's mandate is to manufacture risk adjusted returns, in keeping with its philosophy of "we buy what we can build." Catalyst's Guiding Principles of investment excellence through operational involvement, superior analytics, attention to detail, intellectual curiosity, team and reputation are key to the firm's success. The Catalyst team collectively possesses more than 110 years of extensive experience in restructuring, credit markets and merchant and investment banking in Canada, the United States, Latin America and Europe. For more information, please visit www.catcapital.com.

About 3SBio Inc.

3SBio Inc. is a fully-integrated biotechnology company in China with market-leading biopharmaceutical franchises in oncology, auto-immune diseases and nephrology. Its main products include TPIAO, the only commercialized recombinant human thrombopoietin ("rhTPO") product in the world; Yisaipu, the first-to-market recombinant human tumor necrosis factor-α receptor II (TNFR) - IgG Fc fusion protein for the treatment of rheumatoid arthritis, ankylosing spondylitis and psoriasis; and EPIAO and SEPO, recombinant human erythropoietin ("rhEPO") products. 3SBio is focused on building an innovative product pipeline, with over 16 National Class 1 candidates under development. 3SBio manufacturing capabilities include recombinant proteins, monoclonal antibodies and chemically synthesized molecules, with production centers in Shenyang, Shanghai, Hangzhou, Shenzhen and Como, Italy. 3SBio is actively pursuing international expansion through acquisition, licensing and partnerships. For more information on 3SBio Inc., please visit www.3sbio.com.

About CITICPE

CITICPE is a leading Chinese asset management firm focusing on private equity investment. CITICPE is highly committed to supporting 3SBio’s growth agenda in order to capture the significant growth potential of the CDMO industry.