On November 23, 2021 Gracell Biotechnologies Inc. (NASDAQ: GRCL) ("Gracell" or the "Company"), a global clinical-stage biopharmaceutical company dedicated to developing highly efficacious and affordable cell therapies for the treatment of cancer, reported that members of its senior management team, including its Chairman of Board and Chief Executive Officer Dr. William (Wei) Cao, Chief Financial Officer Dr. Yili Kevin Xie and Chief Medical Officer Dr. Martina A. Sersch, have informed the Company of their intention to use their personal funds to purchase the Company’s American depositary shares ("ADSs") on the open market for an aggregate amount up to a maximum of $2 million within the next three months (Press release, Gracell Biotechnologies, NOV 23, 2021, View Source [SID1234596002]).

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