SanBio: Notice Regarding an Equity and Business Alliance Between Five Companies for Joint Research on the Appropriate Use, Adoption, and Stable Distribution of Regenerative Cell Medicine SB623
TOKYO--(BUSINESS WIRE)--Sep 21, 2018--SanBio Co., Ltd. (representative: Keita Mori, headquarters: Chuo-ku, Tokyo; hereinafter SanBio) hereby announces that it has resolved to enter into an equity and business alliance (hereinafter the Agreement) with CareNet, Inc. (representative: Katsuhiro Fujii, headquarters: Chiyoda-ku, Tokyo; hereinafter CareNet), Medical Incubator Japan K.K., (representative: Jun Katsura, headquarters: Minato-ku, Tokyo; hereinafter Medical Incubator), Vital KSK Holdings, Inc. (representative: Taisuke Murai, headquarters: Setagaya-ku, Tokyo; hereinafter Vital KSK Holdings), and Astem Inc. (representative: Tsuguo Yoshimura, headquarters: Oita, Oita Prefecture; hereinafter Astem) for joint research on the appropriate use, adoption, and stable distribution of regenerative cell medicine SB623.
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Image of the business alliance (Graphic: Business Wire)
1. Overview of the business alliance
Since the beginning of the 21st century, R&D of regenerative cell medicines has been actively promoted around the world, and as a result, has now reached the stage of products being approved and launched. Regenerative cell medicines are expected to spread widely in the coming years. However, medical institutions and peripheral companies in the healthcare industry including pharmaceutical distributors are largely inexperienced in the handling of regenerative cell medicines. They are currently under pressure to accelerate preparations for promoting and marketing regenerative medicine products in ways best suited to their features. Under such circumstances, the five companies above have been examining best ways to pioneer the appropriate use, adoption, and stale distribution of regenerative cell medicines in Japan. Because regenerative cell medicines are a cutting-edge field, the five companies agreed that appropriate use, adoption, and stable distribution of these medicines would be best achieved by teaming up with pioneers in each specialty, and hence agreed to conduct joint research. With its regenerative cell medicine SB623 as the research target, SanBio will engage in joint research with CareNet and Medical Incubator, which have many years’ experience in providing pharmaceutical information and educational programs for physicians and pharmacists, and with Vital KSK Holdings and Astem, which have knowledge and experience in pharmaceutical distribution. SanBio, CareNet, and Medical Incubator are to play a central role in research into the appropriate use and adoption of regenerative cell medicines, while SanBio, Vital KSK Holdings, and Astem will lead studies in distribution. By drawing on the knowledge and experience of each company, SanBio believes it can enhance the content and quality of joint research.
2. Overview of the equity alliance
Although the main goal of forming business alliance is to improve the content of joint research, the five companies have judged that they could also increase their corporate value by taking part in the alliance. Hence, to conduct the joint research in a more cooperative way and to make the best of their alliance, they have decided to enter into an equity alliance agreement.
SanBio will acquire 1,076,400 common shares in CareNet held by its largest shareholder CareNet Innovation Investment Limited Partnership (hereinafter CareNet Innovation) in an off-market transfer (9.74% of 11,048,000 outstanding shares as of August 31, 2018). CareNet, Medical Incubator, Vital KSK Holdings, and Astem will acquire in total 1.59% of outstanding shares in SanBio (49,713,533 shares as of August 31, 2018). Medical Incubator will own shares in SanBio through CareNet Innovation, which Medical Incubator manages as a general partner.
3. Profiles of companies in the equity and business alliance
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