Tokyo, Japan and London, UK, 12 February 2021 – Sosei Group Corporation (“the Company”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the 12 months ended 31 December 2020. The full report can be accessed by clicking here.
Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, commented: “Sosei Heptares made a great deal of progress across all areas of its business in 2020, despite the challenges we faced. We adapted extremely well to the COVID-19 pandemic. This allowed us to successfully execute our strategy, adding several major partnering agreements around our early-stage programs, reinforcing our position as a leading go-to drug discovery and development partner. We also entered several strategic technology collaborations with innovative companies designed to strengthen our StaR® technology and SBDD capabilities and enhance our discovery and future partnering opportunities, including beyond GPCRs. In addition, we successfully refinanced the business, which is supporting the rapid advancement of our exciting and extensive pipeline and our ambitious growth plans, which could include a potentially transformative acquisition. Our ability to deliver further partnering and/or co-investment deals was further enhanced when we regained the rights to our muscarinic program early in the new year. With our clear strategy, our talented team and a strong financial position, we can look forward to 2021 with great optimism.”
Operational Highlights for Q4 2020
Operational Highlights for the Full Year 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.
Worldwide rights to out-licensed muscarinic agonist programs regained from AbbVie/Allergan – independent review of programs has completed, with increased investment allocated to advance the HTL0016878 selective muscarinic M4 agonist through clinical studies and build value ahead of future partnering. HTL0016878 represents a unique opportunity to develop a novel therapeutic with a new mechanism of action for neurological disorders including schizophrenia. Negotiations for collaborations on this and other muscarinic programs are now in progress.
New strategic technology collaboration with PharmEnable for AI-driven drug discovery – aim to identify new leads against a challenging “peptidergic” GPCR target
First strategic collaboration to explore SBDD approaches beyond GPCRs with Metrion Biosciences - collaboration targeting ion channels, a large, under-exploited target class where structural input to drug discovery has been limited. Drug discovery program to identify novel, highly specific leads for further development against a single ion channel associated with neurological diseases.
Financial Highlights for the 12-month Period ended 31 December 2020
*Convenience conversion to US$ at the following rates: 2020: 1US$ =106.774 JPY; 2019: 1US$ =109.035 JPY