Tokyo, Japan and Cambridge, UK, 12 August 2021 – Sosei Group Corporation (“the Company”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the second quarter and first half ended 30 June 2021.
The Company will host a webinar presentation today with Shinichi Tamura, Chairman, President and CEO, Chris Cargill, Group Chief Operating and Financial Officer, and Dr. Tim Tasker, Chief Medical Officer, at 5 pm JST (9 am BST). The webinar is open to all existing and potential investors as well as sell-/buy-side analysts and will consist of a presentation followed by a Q&A session. Please click here to register and receive a link to access the webinar.
Presentation slides will be made available by 4 pm JST (8 am BST) on the 12 August 2021 through the investor section of the Company’s Home Page here.
Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, commented: “We are pleased with the progress we have made during 2021. This year’s focus is on increasing investment in R&D and in strategic growth initiatives, as we continue to explore revenue-generating business opportunities for acquisition to support our medium-term plan for corporate expansion. Investments in R&D are focused on advancing our portfolio of muscarinic agonists for schizophrenia and other neurological disorders, and to partner this portfolio in the near term with a well-capitalized global partner to accelerate late-stage development of these programs. In addition, we continue to make good progress advancing our inhouse and partnered programs, as well as enhancing our world-leading platform for identifying and exploiting new druggable target opportunities. We are confident that we have the right overall corporate strategy to deliver continued success and value creation for all stakeholders.”
Operational Highlights for H1 2021
o repurchase of existing convertible bonds due 2025
o to finance, together with current cash, strategic growth initiatives including (1) funding acquisitions of or investments in companies or technologies including in the areas of neurology, gastroenterology, immunology and rare diseases that complement and strengthen Sosei’s existing business foundation for drug candidate discovery and early development; and (2) funding potential introduction of drug products in the Japanese domestic market.
o To finance research and development of new pipeline programs and working capital.
Financial Highlights for the Six-month Period ended 30 June 2021
*Convenience conversion to US$ at the following rates: 2021: 1US$ =108.11 JPY; 2020: 1US$ =108.25 JPY