Tokyo, Japan and Cambridge, UK, 11 November 2020 – Sosei Group Corporation (“the Company”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the nine months ended 30 September 2020. The full report can be accessed by clicking here.
Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, commented: “The past quarter has seen Sosei Heptares maintain excellent levels of operational activity and continue to make good progress driving its growth strategy forwards despite the ongoing pandemic.
“The new funds we secured in July, will allow us to identify and execute strategic opportunities to accelerate our long-term growth through organic and inorganic means. We are evaluating several such opportunities and expect a number of these to come to fruition.
“In addition, our business development remains very active as we seek to generate value from our pipeline through both traditional discovery and development partnerships and novel VC-backed spin-out companies.
“We were very excited therefore with the creation of Tempero Bio, which has been established by Aditum Bio to advance the clinical development of our mGlu5 NAM programme in addiction and anxiety. This agreement further demonstrates the high quality of candidates we can design and develop and in turn the high quality of partner these can attract.
“We continue to believe that we have all the elements in place to drive our continued success and we look forward to updating our shareholders as we reach future value-creating milestones.”
Operational Highlights for Q3 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 funds will support organic growth initiatives, and corporate purposes.
Financial Highlights for the Nine-month Period ended 30 September 2020
*Convenience conversion to US$ at the following rates: 2020: 1US$ =107.566 JPY; 2019: 1US$ =109.130 JPY
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