Medigen Biotechnology Corp. and Oncolys BioPharma, are jointly developing the oncolytic virus new drug OBP-301 (Telomelysin). Oncolys announced on February 7, 2024 that it has reached a cooperation agreement with FUJIFILM Toyama Chemical Co.

Ltd. (hereinafter referred to as FUJIFILM Toyama Chemical) for the sales of OBP-301 in Japan. In the future, Oncolys will be responsible for applying for marketing approval and supplying OBP-301, while FUJIFILM Toyama Chemical will be responsible for sales and promotion to medical institutions. This agreement is a sales cooperation agreement and does not include upfront payments.

However, if marketing approval is obtained in the future and the targeted sales goals are achieved, Oncolys could receive up to JPY 1.7 billion in milestone payments. Date of occurrence of the event: February 7, 2024. Any other matters that need to be specified(the information disclosure also meets the requirements of Article 7, subparagraph 9 of the Securities and Exchange Act Enforcement Rules, which brings forth a significant impact on shareholders rights or the price of the securities on public companies.): New drug development involves lengthy timelines, high costs, and success is not guaranteed.

Such factors introduce risks to investments, and investors should exercise caution and careful judgment when considering investments. Medigen shares the research and development costs of OBP-301 with Oncolys BioPharma, and will also share future commercial benefits.