TOKYO and CAMBRIDGE, England, Nov. 11, 2020
TOKYO and CAMBRIDGE, England, Nov. 11, 2020 /PRNewswire/ -- Sosei Group Corporation ("the Company"; TSE: 4565) provides an update on operational activities and reports its consolidated results for the nine months ended 30 September 2020. The full report is attached or can be accessed by clicking here.
Shinichi Tamura, Chairman, President and CEO of Sosei Heptares, commented: "The past quarter has seen Sosei Heptares maintain excellent levels of operational activity and continue to make good progress driving its growth strategy forwards despite the ongoing pandemic.
"The new funds we secured in July, will allow us to identify and execute strategic opportunities to accelerate our long-term growth through organic and inorganic means. We are evaluating several such opportunities and expect a number of these to come to fruition.
"In addition, our business development remains very active as we seek to generate value from our pipeline through both traditional discovery and development partnerships and novel VC-backed spin-out companies.
"We were very excited therefore with the creation of Tempero Bio, which has been established by Aditum Bio to advance the clinical development of our mGlu5 NAM programme in addiction and anxiety. This agreement further demonstrates the high quality of candidates we can design and develop and in turn the high quality of partner these can attract.
"We continue to believe that we have all the elements in place to drive our continued success and we look forward to updating our shareholders as we reach future value-creating milestones."
Operational Highlights for Q3 2020
The balance of funds will support organic growth initiatives, and corporate purposes.
Financial Highlights for the Nine-month Period ended 30 September 2020
*Convenience conversion to US$ at the following rates: 2020: 1US$ =107.566 JPY; 2019: 1US$ =109.130 JPY
About Sosei Heptares
We are an international biopharmaceutical group focused on the discovery and early development of new medicines originating from our proprietary GPCR-targeted StaR® technology and structure-based drug design platform capabilities. We are advancing a broad and deep pipeline of novel medicines across multiple therapeutic areas, including neurology, immunology, gastroenterology and inflammatory diseases.
We have established partnerships with some of the world's leading pharmaceutical companies, including AbbVie, AstraZeneca, Genentech (Roche), Novartis, Pfizer and Takeda and additionally with multiple emerging technology companies. Sosei Heptares is headquartered in Tokyo, Japan with corporate and R&D facilities in Cambridge, UK.
"Sosei Heptares" is the corporate brand and trademark of Sosei Group Corporation, which is listed on the Tokyo Stock Exchange (ticker: 4565). Sosei, Heptares, the logo and StaR® are trademarks of Sosei Group companies.
For more information, please visit https://www.soseiheptares.com/
Sosei Heptares – Media and Investor Relations
Hironoshin Nomura, SVP Investor Relations and Corporate Strategy
+81 (0)3 6679 2178 | Hironoshin.Nomura@SoseiHeptares.com
Shinichiro Nishishita, VP Investor Relations, Head of Regulatory Disclosures
+81 (0)3 5210 3399 | IR@SoseiHeptares.com
Citigate Dewe Rogerson
Yas Fukuda – Japanese Media
+81 (0)3 4360 9234 | Yas.Fukuda@citigatedewerogerson.com
Mark Swallow, David Dible – International Media
+44 (0)20 7638 9571 | SoseiHeptares@citigatedewerogerson.com
This press release contains forward-looking statements, including statements about the discovery, development and commercialization of products. Various risks may cause Sosei Group Corporation's actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programs; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialize products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialization activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.