CYTLIMIC Inc. announced that it has entered into an agreement for private placement of common shares for gross proceeds of ¥361.5 million on December 16, 2016. The transaction included participation from NEC Capital Solutions Limited (TSE:8793), Fast Track Initiative, Inc., SMBC Venture Capital Co., Ltd., and NEC Capital Solutions Limited (TSE:8793). As a result of the transaction, NEC Capital Solutions Limited (TSE:8793) will hold 39.1% stake and other investor will hold 60.1% stake.

The transaction took place through a third-party allocation and resulted in the formation of the company.