Tokyo, Japan – 26 December 2008: Sosei Group Corporation (“Sosei”; TSE Mothers Index: 4565), a biopharmaceutical company, announced today the revisions to its financial forecasts for the Fiscal Year ending March 2009, updating from the forecasts announced on 14 May 2008.
1. Revised Financial Forecasts for the Fiscal Year 2008 (1 April 2008 – 31 March 2009)
2. Reasons for Revision
As a result of the company decision to re-acquire commercialization rights from Mundipharma for a mutually agreed sum of £2m, Ordinary Loss and Net Loss have been revised accordingly.
An additional payment of 20% (up to maximum of £1.5m) of net receipts, that Sosei is obliged to pay in case it enters into a new partnership agreement, is not reflected in the above figures.
For further details please see today’s news release “Sosei Announces Buyback of the Commercialization Rights to AD 923 from Mundipharma” .