October 19, 2021

Name of listed company: Chugai Pharmaceutical Co., Ltd.

Code number:

4519 (1st Section of Tokyo Stock Exchange)

Head office:

1-1,Nihonbashi-Muromachi2-Chome,Chuo-ku, Tokyo

President & CEO:

Osamu Okuda

Inquiries to:

Toshiya Sasai

Head of Corporate Communications Dept.

Tel: +81-(0)3-3273-0554

Chugai Announces the Decision of the Termination of Exclusive License Agreement on OBP-301 (Telomelysin), Oncolytic Viral Immunotherapy

Chugai Pharmaceutical Co., Ltd.announced that the company and Oncolys BioPharma Inc. (hereafter, "Oncolys") agreed to terminate the license agreement concluded between the two companies on April 8, 2019 (hereafter, "Agreement") for an oncolytic viral immunotherapy OBP-301 (Telomelysin: suratadenoturev) as follows. The effective date of the termination will be decided upon consultation with Oncolys, at the latest by October 2022. Upon termination of the Agreement, all rights Chugai may have with respect to OBP-301 will be returned to Oncolys. There will be no payment or receipt of milestone fees between the two companies.

  1. Reasons for the Termination
    Chugai entered into the Agreement with Oncolys on April 8, 2019, and has been developing OBP-301 in Japan. However, Chugai concluded that pursuing the development of the product through collaboration between the two companies will not maximize the product value of the drug. This decision is not attributable to any efficacy or safety issues regarding OBP-301. For the time being, Chugai will continue to conduct ongoing domestic clinical trials and transfer the initiative to Oncolys upon agreement between the two companies.
  2. Details of the Agreement to be Terminated
    The Agreement, which will be terminated, granted Chugai an exclusive license, with sublicensing rights, for development, manufacturing and marketing of OBP-301 in Japan and Taiwan as well as exclusive option rights concerning the worldwide development, manufacturing and marketing of OBP-301, excluding Japan, Taiwan, China, Hong Kong, and Macau.
  3. Outline of the Counterparty to the Termination of the Agreement
    1. Name: Oncolys BioPharma Inc.
    2. Address: 4-1-28, Toranomon, Minato-ku, Tokyo, Japan
    3. Title and Name of Representative: Yasuo Urata, President & CEO
  5. Prospects
    There is no impact on our consolidated results for the fiscal year ended December 2021.

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Chugai Pharmaceutical Co. Ltd. published this content on 19 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 October 2021 08:01:08 UTC.