JCR Pharmaceuticals Co., Ltd. and MEDIPAL HOLDINGS CORPORATION announced that they have entered into an agreement to establish a joint venture company (JV Company) in the United States. Reason to establish a JV Company: Pursuant to the business alliance agreement signed on September 21, 2017, JCR and MEDIPAL will establish a JV Company in the United States to control and manage the clinical development of JCR's investigative products early on, namely, JR-141 (blood-brain-barrier penetrating therapeutic enzyme for Hunter syndrome) which is currently undergoing clinical trials in Japan and JR-162 (J-Brain Cargo®-applied therapeutic enzyme for Pompe disease) in its pre-clinical stage. The U.S. JV Company is expected to be a hub for JCR's global development of its products. It is a platform technology developed by JCR that enables delivery of target substances to across the blood-brain barrier through a certain receptor expressed on the surface of capillary endothelial cells of the brain. It is potentially applicable to a wide range of drug compounds from small molecules to proteins such as enzymes or antibodies. Corporate name: JCR USA Inc. (provisional name); Location-Torrance, California, U.S.A.; Business- Control and supervision of services related to clinical trials contracted to CRO and coordination and consultation of clinical trials, research and development, import and export, shipping and warehousing of clinical trial material, reagents, their raw materials and such related materials; Paid-in capital- USD 5,000,000.

Representative for JV Company: Katsuya Nishino, President (Representative and Executive Vice President of JCR Pharmaceuticals Co., Ltd.).