CAMBRIDGE, Mass., ROTTERDAM, Netherlands and SHANGHAI, Jan. 18, 2026 /PRNewswire/ -- Harbour BioMed (HKEX: 02142), a global biopharmaceutical company committed to the discovery and development of novel antibody therapeutics in immunology and oncology, today announced that through its wholly-owned subsidiary, it has exercised its warrant to acquire the common stock in Spruce Biosciences, Inc. (Nasdaq: SPRB) ("Spruce"). Following this transaction, Harbour BioMed holds approximately 3.8% of the total outstanding shares of Spruce and approximately 3.1% of the fully diluted shares of Spruce^[1].

The warrant was originally issued to Harbour BioMed's subsidiary and other minority shareholders of HBM Alpha Therapeutics ("HBMAT"), an innovative biotechnology company incubated by Harbour BioMed, in connection with a license and collaboration agreement by and between HBMAT and Spruce. The collaboration aims to advance the development of SPR202 (formerly known as HBM9013 by Harbour BioMed), a potent and selective anti-corticotropin-releasing hormone monoclonal antibody for various disorders, including congenital adrenal hyperplasia.

Dr. Jingsong Wang, Founder, Chairman, and CEO of Harbour BioMed, stated: "This warrant exercise marks a significant milestone in our relationship with Spruce Biosciences. It moves us beyond a traditional licensor-licensee relationship to a truly aligned strategic partnership, reinforcing our shared commitment to accelerating the development of transformative therapies for patients worldwide."

About Harbour BioMed

Harbour BioMed (HKEX: 02142) is a global biopharmaceutical company committed to the discovery and development of novel antibody therapeutics in immunology and oncology. The company is building a robust and differentiated pipeline through internal R&D capabilities, strategic global collaborations in co-discovery and co-development, and selective acquisitions.

Harbour BioMed's proprietary antibody technology platform, Harbour Mice^®, generates fully human monoclonal antibodies in both the conventional two heavy and two light chain (H2L2) format and the heavy chain-only (HCAb) format. Building upon HCAb antibodies, the HCAb-based immune cell engagers (HBICE^®) bispecific antibody technology enables tumor-killing effects that traditional combination therapies cannot achieve. Additionally, the HCAb-based bispecific immune cell antagonist (HBICA^TM) technology empowers the development of innovative biologics for immunological and inflammatory diseases. By integrating Harbour Mice^®, HBICE^®, and HBICA^TM with a single B-cell cloning platform, Harbour BioMed has built a highly efficient and distinctive antibody discovery engine for developing next-generation therapeutic antibodies. For more information, please visit www.harbourbiomed.com.

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SOURCE Harbour BioMed