GYRE THERAPEUTICS, INC. (GYRE): M&A transaction — Catalyst Biosciences acquires F351 assets; GNI USA to own ~97.5% of combined company

the Board appointed Ying Luo, Ph.D. and Mr. Thomas Eastling to the Board as directors.

The Board also appointed Ms. Andrea Hunt to serve as a Class II director

The Board appointed Nassim Usman, Ph.D. to serve as a Class III director

the Board appointed Ying Luo, Ph.D. and Mr. Thomas Eastling to the Board as directors.

Errol B. De Souza, Ph.D., Jeanne Jew, Geoffrey Ling, M.D./Ph.D., Sharon Tetlow and Eddie Williams voluntarily resigned from Catalyst’s Board of Directors

Errol B. De Souza, Ph.D., Jeanne Jew, Geoffrey Ling, M.D./Ph.D., Sharon Tetlow and Eddie Williams voluntarily resigned from Catalyst’s Board of Directors

Errol B. De Souza, Ph.D., Jeanne Jew, Geoffrey Ling, M.D./Ph.D., Sharon Tetlow and Eddie Williams voluntarily resigned from Catalyst’s Board of Directors

Errol B. De Souza, Ph.D., Jeanne Jew, Geoffrey Ling, M.D./Ph.D., Sharon Tetlow and Eddie Williams voluntarily resigned from Catalyst’s Board of Directors

Errol B. De Souza, Ph.D., Jeanne Jew, Geoffrey Ling, M.D./Ph.D., Sharon Tetlow and Eddie Williams voluntarily resigned from Catalyst’s Board of Directors

(i) Ms. Andrea Hunt as Chair

The Board appointed Mr. Augustine Lawlor to serve as a Class I director

Resignation of Directors On December 26, 2022, immediately prior to the F351 Effective Time, Errol B. De Souza, Ph.D., Jeanne Jew, Geoffrey Ling, M.D./Ph.D., Sharon Tetlow and Eddie Williams voluntarily resigned from Catalyst’s Board of Directors (the “ Board ”). The resignations were made in connection with the consummation of the transactions contemplated by the F351 Agreement and were not due to any disagreement or dispute relating to Catalyst’s operations, policies or practices. Appointment of Directors In accordance with the F351 Agreement, on December 26, 2022, effective as of the F351 Effective Time, the Board appointed Ying Luo, Ph.D. and Mr. Thomas Eastling to the Board as directors.

Under the terms of the F351 Agreement and upon the effective time of the transactions contemplated by the F351 Agreement (the “ F351 Effective Time ”), Catalyst paid the Sellers $35,000,000 in the form of: 6,266,521 shares of Catalyst common stock, par value $0.001 per share (the “ Catalyst Common Stock ”); and 12,340 shares of Catalyst Series X Convertible

On December 26, 2022, Catalyst Biosciences, Inc., a Delaware corporation (“ Catalyst ”), acquired the F351 Assets (as defined below) from GNI Group Ltd., a company incorporated under the laws of Japan with limited liability (“ GNI Japan ”), and GNI Hong Kong Limited, a company incorporated under the laws of Hong Kong with limited liability (“ GNI Hong Kong ” and, together with GNI Japan, the “ Sellers ”), pursuant to that certain Asset Purchase Agreement, dated December 26 2022 (the “ F351 Agreement ”), by and among Catalyst and the Sellers.

On December 26, 2022, Catalyst, GNI USA, Inc., a Delaware corporation (“ GNI USA ”), GNI Japan, GNI Hong Kong, Shanghai Genomics, Inc., a company organized under the laws of the People’s Republic of China (“ SG ”, and collectively with GNI USA, GNI Japan and GNI HK, “ Contributors ,” and each a “ Contributor ”), the individuals (each, a “ Minority Holder ” and collectively, the “ Minority Holders ”) listed on Annex A to that certain Business Combination Agreement (the “ Business Combination Agreement ”), and Continent Pharmaceuticals Inc., a Cayman Islands company limited by shares (“ CPI ”), entered into the Business Combination Agreement