Tokyo, Japan and London, UK, 13 August 2020 – Sosei Group Corporation (“the Company”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the first half ended 30 June 2020. The full report can be accessed by clicking here.
Operational Highlights for 1H 2020
o a potentially transformative acquisition to secure long-term revenue growth;
o investments in novel technologies that complement and future-proof its drug discovery platform;
o expansion of its drug candidate discovery and early development into new target classes; and
o in-licensing late-stage clinical assets to develop for the Japanese market.
The balance of the funds will be used to support organic growth initiatives, such as investments in current research activities and general corporate purposes.
Financial Highlights for the Six-month Period ended 30 June 2020
*Convenience conversion to US$ at the following rates: 2020: 1US$ =108.253 JPY; 2019: 1US$ =110.064 JPY
Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, commented: “I am pleased to report that Sosei Heptares has made good progress in the first half of 2020, our 30th anniversary year and a period that has presented significant challenges for businesses globally. Our response to these challenges has been rapid and impressive, allowing us to ensure employee safety and maintain a high level of business continuity. We have added another major pharma partnership with Abbvie and have secured the long-term growth capital we require to execute our ambitious corporate objectives. These include both organic and inorganic strategic options including a potentially transformative acquisition, as well as investments that enhance our own world-leading discovery and early development capabilities. We are excited by the future and motivated more than ever to build a profitable, global biopharmaceutical company delivering novel drug candidates to treat serious disease as well as value for shareholders.”
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