Tokyo, Japan and Cambridge, UK, 13 May 2022 – Sosei Group Corporation (“the Company”; TSE: 4565) provides an update on operational activities and reports its consolidated results for the first quarter ended 31 March 2022. The full report can be found by clicking here.
Chris Cargill, President and CEO of Sosei Heptares, commented: “Sosei Heptares is entering a new and exciting phase in 2022. We have made strong progress evolving our organic strategy and operational model and have put in place key pillars that significantly augment the existing talent and expertise at the Company. With a new leadership team and exciting collaborations underway with innovative partners such as Verily and Weatherden, we are building an agile, world-leading drug discovery and translational medicine capability in the UK to accelerate our shift toward becoming a multi-program, early clinical-stage business. Our goal is to take our best programs through Phase 1b/2a trials in patients, to cost effectively establish clinical proof-of-concept and support the delivery of much-needed medicines to patients as fast as possible.
“In addition to driving the above growth plan at our existing R&D business in the UK, we continue to seek expansion opportunities in the areas of drug discovery technology investments, securing products for patients in Japan, and assessing strategic acquisition opportunities.”
Operational Highlights for Q1 2022
o Mr. Chris Cargill appointed Representative Executive Officer, President and Chief Executive Officer
o Mr. Shinichi Tamura appointed Chairman of the Board
o Dr. Matt Barnes appointed President of Heptares Therapeutics Ltd. and Head of UK R&D
o Mr. Hironoshin Nomura appointed as Chief Financial Officer (formerly Senior Vice President, IR & Corporate Strategy)
o Mr. Kieran Johnson appointed as Chief Accounting Officer (formerly Senior Vice President, Group Financial Controller)
o Mr. Kazuhiko Yoshizumi is re-appointed as Chief Compliance Officer, and Mr. Tadayoshi Yasui is re-appointed as President of Sosei Co. Ltd, Japan.
o Dr. Malcolm Weir and Dr. Tim Tasker retired from Executive Officer roles and became consultants to the Company
Post-period Events
Financial Highlights for Three-month period ended 31 March 2022
*Convenience conversion to US$ at the following rates: YTD 2022: 1US$ =116.19 JPY; YTD 2021: 1US$ =106.09 JPY, 31 Dec 2021: 1US$ = 115.07 JPY; 31 Mar 2022: 1US$ = 121.83 JPY
** Core operating profit / loss is an alternative performance measure which adjusts for material non-cash costs and one-off costs in order to provide insights into the recurring cash generation capability of the core business.
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