Ambrx Biopharma Strengthens Clinical Leadership with Appointment of Sandra Aung, Ph.D. as Head of Clinical Development

Ambrx Biopharma, Inc., or Ambrx (NYSE:AMAM), a clinical stage biopharmaceutical company using its proprietary Engineered Precision Biologics (EPBs) platform to create antibody-drug conjugates (ADCs), has appointed Sandra Aung, Ph.D., as Executive Vice President, Head of Clinical Development. Dr. Aung will assume all clinical development leadership responsibilities of Ambrx's proprietary pipeline of several ADC product candidates.

Dr. Aung brings over 20 years of experience in the pharmaceutical and biotechnology industry having led oncology-focused clinical development teams and projects in companies of different sizes. Dr. Aung has a versatile background in autoimmunity, immune-oncology, and infectious disease and has authored over 20 peer-reviewed publications and received multiple Small Business Innovate Research (SBIR) grants from the National Cancer Institute/ National Institutes of Health (IH/NCI) for her work in immune-oncology drug development. Dr. Aung helped lead Nektar Therapeutics' lead clinical compound, pegylated interleukin-2 (IL-2) (bempeg), from First-In-Human studies to multiple Phase 3 registrational trials in less than 3 years. Dr. Aung's cross industry and academic relationships with KOLs and more importantly expertise with high dose IL-2 (Proleukin^®) were instrumental for this success. Dr. Aung's extensive immuno-oncology drug development experience additionally comes from previous research and leadership positions she held at UbiVac, Inc. and Cell Genesys, Inc. Dr. Aung earned her Ph.D. in microbiology and immunology from Vanderbilt University and performed her post-doctoral research at The Scripps Research Institute.

"The addition of Sandra comes at a pivotal moment as we seek to demonstrate the superiority of our proprietary ADC conjugation technology and improved safety and efficacy in multiple clinical trials," said Daniel O'Connor, President and Chief Executive Officer of Ambrx. "Sandra's extensive scientific and clinical experience in successfully advancing cancer treatments, together with her strong relationships with clinical investigators and key opinion leaders in oncology makes her the ideal executive to lead our clinical development programs. We are extremely excited to welcome her to the leadership team at this important time for our Company."

About Ambrx Biopharma, Inc.

Ambrx is a clinical stage biopharmaceutical company using an expanded genetic code technology platform to discover and develop Engineered Precision Biologics. These include next generation antibody drug conjugates (ADCs) and other engineered therapies to modulate the immune system. Ambrx is advancing a focused portfolio of clinical and preclinical programs designed to optimize efficacy and safety in multiple cancer indications, including ARX517, its proprietary antibody-drug conjugates (ADC) targeting the prostate-specific membrane antigen (PSMA) and ARX788, its proprietary ADC targeting HER2. In addition, Ambrx has preclinical and clinical collaborations with multiple partners on drug candidates generated using Ambrx technology. Ambrx spun out of The Scripps Research Institute in 2003 and has several other product candidates involving ADCs and other aspects of Ambrx's protein engineering technology. For more information, please visit www.ambrx.com.

Forward-Looking Statements

This press release includes certain "forward-looking statements" intended to qualify for the "safe harbor" from liability established by the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements may be identified by the words "intend," "plan," and similar expressions, and include, without limitation, express or implied statements regarding Ambrx's clinical trial and product candidate strategy and expectations and the superiority of the Company's proprietary ADC conjugation technology. Forward-looking statements are based on Ambrx's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Factors that could cause actual results to differ include, but are not limited to, those risks and uncertainties associated with: the continuing impact of the COVID-19 pandemic and other public health-related risks and events on Ambrx's business, operations, strategy, goals and anticipated milestones; Ambrx's ability to execute on its strategy including with respect to the timing of its R&D efforts, initiation of clinical trials and other anticipated milestones; risks associated with development of novel therapeutics, including potential delays in clinical trials and regulatory submissions and the fact that future clinical trial results may not be consistent with preliminary results or results from prior preclinical studies or clinical trials; Ambrx's ability to fund operations as anticipated; and the additional risks and uncertainties set forth more fully under the caption "Risk Factors" in Ambrx's Annual Report on Form 20-F filed with the SEC on April 26, 2022, and elsewhere in Ambrx's filings and reports with the SEC. Forward-looking statements contained in this press release are made as of this date, and Ambrx undertakes no duty to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable law.

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