Tokyo, Japan and Cambridge, UK, 12 May 2023 – 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 2023. The full report can be found here.
Chris Cargill, President & CEO of Sosei Heptares, commented: “We are continuing to make good progress in building the foundation Sosei Heptares needs to become a leading international biopharmaceutical company headquartered in Japan by 2030.
“A key milestone in that journey was the elevation of our shares to the TSE Prime Market from the Growth Market and our inclusion in the TOPIX index. We are confident that this will improve our ability to attract an increasing number of institutional investors who are familiar with the biotech industry, hold a long-term perspective and can support the acceleration of our growth driven by the core strategy we unveiled and began executing last year. This strategy is focused on (1) enhancing our platform; (2) progressing our partnerships; (3) transforming our R&D; and (4) commercializing products in Japan.
“From a corporate perspective, we have also made great progress in establishing our ESG priorities and published these in our inaugural ESG report. We are working hard to embed these objectives into our business operations as well as our culture and values.
“I am very proud of what our team members in Japan and in the UK have accomplished so far in 2023 and look forward to the start of first-in-human trials for two of our inhouse programs and further progress across our extensive portfolio over the rest of the year.”
Operational Highlights for Q1 2023
Financial Highlights for the Three-month Period ended 31 March 2023
* Convenience conversion to US$ at the following rates: FY 2023: 1US$ =132.32 JPY; FY 2022: 1US$ =116.19 JPY; 31 Mar 2023: 1US$ = 132.68 JPY; 31 Dec 2022: 1US$ = 131.27 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.