Jasper Therapeutics Announces New Positive Briquilimab Data to be Presented at the 2023 Tandem Meetings: Transplantation & Cellular Therapy Meetings of ASTCT and CIBMTR Three abstracts highlight the safety and efficacy o

Jasper Therapeutics Announces New Positive Briquilimab

Data to be Presented at the 2023 Tandem Meetings: Transplantation & Cellular Therapy Meetings of ASTCT and CIBMTR

Three abstracts highlight the safety and efficacy

of briquilimab combined with low-toxicity radiation conditioning to achieve full donor engraftment and leukemia disease eradication

REDWOOD CITY, Calif., January 13, 2023

- Jasper Therapeutics, Inc. (Nasdaq: JSPR) ("Jasper" or the "Company"), a biotechnology company developing

novel antibody therapies addressing chronic diseases such as urticaria, lower-risk myelodysplastic syndromes (MDS) and stem cell transplant

conditioning agents targeting c-Kit, today announced that new positive data for briquilimab (formerly known as JSP191), will be presented

at the 2023 Tandem Meetings: Transplantation & Cellular Therapy Meetings of ASTCT and CIBMTR, taking place on February 15-19, 2023

in Orlando, Florida.

Three abstracts, covering data related to the

Phase 1 study of briquilimab in combination with fludarabine and low-dose irradiation (Flu/TBI) conditioning in older adults (62 to 79

years) with acute myeloid leukemia (AML) or MDS undergoing allogeneic hematopoietic cell transplant (HCT), will be presented. The studies

demonstrate that a regimen of briquilimab plus Flu/TBI leads to successful engraftment of donor blood stem cell without the usual short

and long-term toxicities that accompany alternative busulfan-based regimens commonly used in transplant of donor or gene-corrected cells.

Based on its mechanism of action, briquilimab is known to potently synergize with radiation, amplifying its stem cell depleting effects

without increasing off-target toxicity.

The first abstract demonstrates that briquilimab

was safe, well-tolerated, and achieved durable remissions in 8 of 12 of the first treated AML patients. All 8 patients were relapse-free

at one-year follow up. Six of 9 patients who entered transplant with detectable AML, a group known to have a poor prognosis with high

relapse rates, showed long-term eradication of the AML clones at one-year. In a companion abstract, the total group of 29 AML and MDS

patients treated with briquilimab and Flu/TBI demonstrated lower than expected rates of acute and chronic graft-versus-host disease (GVHD).

The third abstract, to be presented in the Best Abstract session, evaluated the costs and healthcare utilization of 12 briquilimab plus

Flu/TBI study patients who received outpatient conditioning and donor cell transplant at a single study center. During the first 100 days

post-procedure there were a total of 7 hospitalizations in the 12 patients, with an overall mean stay of 4 days. These results demonstrate

the feasibility and potential significant cost savings of outpatient briquilimab plus Flu/TBI conditioning followed by outpatient donor

cell transplant in older patients with AML or MDS.

"Our data presentations at the ASTCT meeting

add to the significant body of clinical evidence supporting the safety and clinical potential of briquilimab in a variety of indications

and patient types," said Ronald Martell, President and Chief Executive Officer of Jasper. "While we are focusing our near-term

resources on the development of briquilimab for chronic diseases and as a conditioning agent for stem cell transplants addressing rare

diseases, we believe these data demonstrate that briquilimab is an agent that can markedly improve the safety and efficacy of stem cell

transplants for a wide range of malignant and rare diseases."

About Briquilimab (formerly known as JSP191)

Briquilimab is a targeted, monoclonal antibody

that inhibits the cell-surface receptor c-Kit, also known as CD117. It is currently being evaluated as a primary therapeutic for mast

cell diseases such as chronic spontaneous urticaria (CSU), chronic inducible urticaria (CIndU), and allergic asthma, and for lower-risk

MDS patients. It is also being studied as a conditioning agent for cell and gene therapies for rare diseases. To date, briquilimab has

a demonstrated efficacy and safety profile in 130 dosed subjects and healthy volunteers, with clinical outcomes as a conditioning agent

in severe combined immunodeficiency (SCID), acute myeloid leukemia (AML), myelodysplastic syndromes (MDS), Fanconi anemia (FA), and sickle

cell disease (SCD). In addition, briquilimab is being advanced as a transformational non-genotoxic conditioning agent for gene therapy.

About Jasper Jasper is a clinical-stage

biotechnology company developing novel antibody therapies and stem cell transplant conditioning agents targeting c-Kit (CD117), an important

receptor found on stem cells and mast cells. The Company's lead program is briquilimab, a first-in-class monoclonal antibody being

developed as a therapeutic for chronic diseases and as a conditioning agent for stem cell transplants for rare diseases. For more information,

please visit us at jaspertherapeutics.com.

Forward-Looking Statements

Certain statements included in this press release

that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private

Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe,"

"may," "will," "estimate," "continue," "anticipate," "intend,"

"expect," "should," "would," "plan," "predict," "potential," "seem,"

"seek," "future," "outlook" and similar expressions that predict or indicate future events or trends

or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding

Jasper's plans with respect to its near-term resources and briquilimab's potential, including with respect to cost savings

and any ability for it to improve the safety and efficacy of stem cell transplants for a range of malignant and rare diseases. These statements

are based on various assumptions, whether or not identified in this press release, and on the current expectations of Jasper and are not

predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to

serve as, and must not be relied on by an investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability.

Many actual events and circumstances are beyond the control of Jasper. These forward-looking statements are subject to a number of risks

and uncertainties, including general economic, political and business conditions; the risk that the potential product candidates that

Jasper develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at

all; the risk that clinical trials may not confirm any safety, potency or other product characteristics described or assumed in this press

release; the risk that Jasper will be unable to successfully market or gain market acceptance of its product candidates; the risk that

prior study results may not be replicated; the risk that Jasper's product candidates may not be beneficial to patients or successfully

commercialized; patients' willingness to try new therapies and the willingness of physicians to prescribe these therapies; the effects

of competition on Jasper's business; the risk that third parties on which Jasper depends for laboratory, clinical development, manufacturing

and other critical services will fail to perform satisfactorily; the risk that Jasper's business, operations, clinical development

plans and timelines, and supply chain could be adversely affected by the effects of health epidemics, including the ongoing COVID-19 pandemic;

the risk that Jasper will be unable to obtain and maintain sufficient intellectual property protection for its investigational products

or will infringe the intellectual property protection of others; and other risks and uncertainties indicated from time to time in Jasper's

filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2021 and subsequent Quarterly Reports on

Form 10-Q. If any of these risks materialize or Jasper's assumptions prove incorrect, actual results could differ materially from

the results implied by these forward-looking statements. While Jasper may elect to update these forward-looking statements at some point

in the future, Jasper specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing

Jasper's assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed

upon the forward-looking statements.

John Mullaly (investors)

Jeet Mahal (investors)

Lauren Barbiero (media)