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Sosei Heptares Operational Highlights and Consolidated Results for the First Half 2020

TOKYO and LONDON, Aug. 13, 2020 /PRNewswire/ --A  SoseiA Group Corporation ("the Company") (TSE: 4565) provides an update on operational activities and reports its consolidated results for the first half ended 30 June 2020. The full report can be accessed by clicking here.Operational Highlights for 1H 2020

New global agreement signed with AbbVie a?? the discovery collaboration and option to license collaboration will initially focus on discovery of novel small molecules targeting inflammatory and autoimmune diseases. The Company will conduct and fund R&D activities through Investigational New Drug (IND)-enabling studies. For the first target, the Company is eligible to receive up to US$32 million in upfront and near-term milestone payments, as well as potential option, development and commercial milestones of up to US$377 million, plus royalties on global sales. AbbVie has the option to expand the collaboration up to a total of four targets.



Measures put in place to successfully operate in response to the COVID-19 pandemic a?? policies and practises have been rapidly implemented to ensure safety of employees and other stakeholders and to reduce the spread of coronavirus, while also prioritizing revenue-generating work forA the major collaboration partners.



New COVID-19 R&D program launched a?? multidisciplinary team created to apply the Company's world-leading structure-based drug design capabilities to the global research efforts to discover drugs targeting the SARS-CoV-2 coronavirus and to treat COVID-19, also considering future variants of SARS-CoV-2.



EnerzairA® BreezhalerA® (QVM149) approved in Japanas a maintenance treatment of uncontrolled asthma in adult patients a?? EnerzairA® is once-daily, first-in-class inhaled LABA/LAMA/ICS combination for asthma patients, being developed by Novartis, and in which Sosei Heptares has an economic interest. The achievement of this milestone resulted in a US$1.25 million payment to Sosei Heptares from Novartis.



High-impact publication in Nature Reviews Drug Discovery a?? highlighting potential of structure-based approaches to generate peptide drugs targeting G protein-coupled receptors (GPCRs).



Excellent scientific progress made with orexin agonist program in conjunction with spin-off companies Orexia and Inexia a?? progress building unique orexin modulator drug discovery and design engine triggered next tranche of funding from Medixci. Further orexin receptor structural data and insights generated to help optimize drug discovery targeting neurological diseases.

Post-period Highlights

Approximately US$194A million raised from International Offering of shares and convertible bonds a?? the Company intends to use the majority of funds to pursue strategic growth initiatives including:



a potentially transformative acquisition to secure long-term revenue growth;



investments in novel technologies that complement and future-proof its drug discovery platform;



expansion of its drug candidate discovery and early development into new target classes; and



in-licensing late-stage clinical assets to develop for the Japanese market.

The balance of the funds will be used to support organic growth initiatives, such as investments in current research activities and general corporate purposes.

EnerzairA® BreezhalerA® approved in Europe for asthma a?? the approval also includes an optional digital companion with sensor and app designed to improve compliance and to better support therapeutic decisions. Sosei Heptares received a US$5 million milestone payment from Novartis, as a result of this approval.

Financial Highlights for the Six-month Period ended 30 June 2020
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