Tokyo, Japan and London, UK, 13 February 2020 – Sosei Group Corporation (“the Company”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the twelve months ended 31 December 2019. The full report can be accessed by clicking here.
Operational Highlights for Q4 2019
Operational Highlights for the Full Year 2019
Two new multi-target collaborations initiated with major global partners – Genentech and Takeda – together, these collaborations are expected to generate up to US$52 million in the form of upfront and early progress payments over the next two to three years, with potential for significant future milestone payments plus royalties
Excellent progress with other partnered programs – AstraZeneca (AZD4635), Pfizer (two candidate nominations), Novartis (QVM149), all triggering progress-related milestones
Creation of two spin-out companies – Spin out of discovered assets (orexin agonists targeting neurological diseases) into Orexia Ltd and Inexia Ltd with funding of up to €40 million from Medicxi, an international investment firm focused on the life sciences sector. Significant progress, triggering release of funding, reported in January 2020
R&D Day for investors (September 2019) – successful event held in Japan showcasing the Company’s state-of-the-art UK R&D center, the potential of StaR® technology and artificial intelligence in drug discovery and how this positions Sosei Heptares to continue delivering high-quality drug candidates, strategic partnerships and significant shareholder value
Financial Highlights for the 12-month Period ended 31 December 2019
* Convenience conversion to US$ at the following rates: 2019: 1US$ =109.035 JPY; 2018: 1US$ =110.291 JPY
Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, commented: “We are delighted with the multiple successes we have delivered in 2019 as we execute our strategy of achieving sustainable profitability through drug discovery, early development and partnering. The new collaborations that we signed in the latter part of the year with Genentech and Takeda illustrate this strategy in action and complement the important strategic partnerships we already have in place with AstraZeneca, Pfizer and others. During the year, we also signed an innovative deal with Medicxi, which agreed to provide up to €40 million to create and support two spin-out companies based on our orexin agonist discoveries. These companies have made an excellent start resulting in the release of funds to advance into the next stages. Over the course of 2019 we continued to extend the capabilities of our GPCR-focused drug discovery platform through the integration of cutting-edge technologies and expertise. We believe that these enhanced capabilities will improve both our ability to generate novel molecules and to create the further strategic partnering opportunities that are central to our strategy to deliver shareholder value.”
Abbreviations used: GPCR – G protein-coupled receptors
– ENDS –
[1] Non-IFRS measure
[2] Non-IFRS measure