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SanBio: Summary of Procurement of Funds in the Current Fiscal Year

Published: Jun 26, 2018

TOKYO--(BUSINESS WIRE)-- The Group (SanBio Co., Ltd. and its subsidiary SanBio, Inc.) hereby announces procurement of funds totaling ¥11,000 million upon completion of exercise of share acquisition rights with an exercise price adjustment clause issued on April 6, 2018. The funds procured will be used for the following purposes as investments for medium-term growth.
 

Overview of funds procured in the current fiscal year (from February 1, 2018 to January 31, 2019)
Contracting party   Form of funding   Amount of funds procured   Date of agreement

(or date of approval)

   Use of funds

-

   Equity finance

(share acquisition rights with an exercise price adjustment clause by third-party allotment)

   ¥11,000 million  

-

 

  
  • Establishment of manufacturing, logistics, and sales systems for SB623 following its launch
  • Development of programs targeting chronic motor deficit from ischemic stroke in Japan
  • R&D for expanding target regions to market SB623 in the future
 

Overview of funds procured in the previous fiscal year (from February 1, 2017 to January 31, 2018)
Contracting party   Form of funding   Amount of funds procured   Date of agreement (or date of approval)   Use of funds
Mitsubishi UFJ Trust and Banking Corporation   Borrowing   ¥900 million   March 2017  
  • Phase 2b clinical trial for the treatment of chronic motor deficit from ischemic stroke in the US
  • Phase 2 clinical trial for the treatment of chronic motor deficit from traumatic brain injury (TBI) in the US and Japan
California Institute for Regenerative Medicine (CIRM)   Grant   $20 million

(¥2,200 million)*

   June 2017   Phase 2b clinical trial for the treatment of chronic motor deficit from ischemic stroke in the US
Mizuho Bank, Ltd.   Commitment line   ¥1,600 million   August 2017   Cash in reserve for phase 2 clinical trial for the treatment of chronic motor deficit from TBI in the US and Japan
Mitsubishi UFJ Trust and Banking Corporation   Commitment line   ¥500 million   October 2017   Cash in reserve for phase 2 clinical trial for the treatment of chronic motor deficit from TBI in the US and Japan
        Total: ¥5,200 million        

*Exchange rate: $1=¥110

 

Contacts

For more information, contact:
SanBio Co., Ltd.
Masahito Kumagae, +81-3-6264-3481
Management Administration

 

Source: SanBio Co., Ltd.

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