Tokyo, Japan and Cambridge, UK, 15 March 2023 – Sosei Group Corporation (“the Company”; TSE: 4565), the world leader in G protein-coupled receptor (GPCR) focused structure-based drug design (SBDD) and development, today announces it has changed the market on which the Company's shares are listed on the Tokyo Stock Exchange, Inc. (“TSE”) from the Growth Market segment to the Prime Market segment, effective today.
Chris Cargill, President & CEO of Sosei Heptares, commented: “We believe that this move to TSE Prime is a key milestone in our vision to become one of Japan’s leading global biopharmaceutical champions. We are confident that a Prime Market listing will improve our ability to attract diverse institutional investors who are familiar with this industry, hold a long-term perspective and can support the acceleration of our growth driven by our core strategy.”
Rationale for the change
The Company’s vision is to become one of Japan’s global biopharmaceutical champions, discovering, developing and commercializing life-changing medicines for patients worldwide based on its world-leading science and expertise.
The Company expects the move to the Prime Market will help it to achieve its vision by providing enhanced support and access to the long-term capital through greater exposure to institutional investment funds, both domestic and international. This will result from a deepening and broadening of its shareholder base to reflect the global nature of the business.
For more details regarding the change of Sosei Heptares’ listing to the Prime Market segment, please refer to the Japan Exchange Group’s website https://www.jpx.co.jp/english/
Core Strategic Priorities
In its full year 2022 results presentation (held on 14 February 2023), Sosei Group’s leadership set out a clear strategy to leverage the Company’s proprietary platform, pipeline and R&D expertise to grow the business internationally and in Japan. This strategy has four key pillars:
(i) Extending and enhancing the competitive advantages of the Company’s world-leading StaR®/SBDD discovery capabilities;
(ii) Diligently driving forward existing partnerships with global biopharma companies and initiating new high-value partnerships to ensure the continued flow of revenues;
(iii) Transforming R&D to a program-centric operational model designed to enhance productivity, value and success; and
(iv) Building out an agile, scalable and effective clinical development and commercialization business in Japan.
In 2023, the Company expects to make progress against all four of its strategic priorities and will announce significant relevant updates in accordance with TSE regulations. Our objectives for each strategic priority are as follows.
(i) Invest to enhance GPCR SBDD platform capability;
(ii) Execute at least one new high-value collaboration, and progress existing partnerships;
(iii) Advance at least two new in-house programs into first-in-human clinical trials; and
(iv) Take clear steps to build its Japan biopharma business (in-licensed or in-house products).