Kaken Pharmaceutical Co., Ltd. (TSE:4521) agreed to acquire ARTham Therapeutics Inc from a group of investors for ¥5.5 billion on November 30, 2021. Group of investors include eight individuals, including Hiroshi Nagabukuro and ARTham's founders, and ten venture capital firms. As per terms of transaction, Kaken Pharmaceutical Co., Ltd. will acquire common stock 0.040525 million shares, will acquire Class A shares 0.075230 million shares and will acquire Class B shares 0.031463 million shares. As of Nov 30, 2021, Kaken Pharmaceutical Co., Ltd's Board of Directors resolved to acquire ARTham Therapeutics Inc. Transaction is expected to complete on December 13, 2021.

Kaken Pharmaceutical Co., Ltd. (TSE:4521) completed the acquisition of ARTham Therapeutics Inc from a group of investors for ¥5.5 billion on December 13, 2021. Kaken has acquired 53.3% each of ARTham's common stock, class A stock or class B stock, or ARTham's stock acquisition rights. The common shares and class shares in ARTham that are to remain in the possession of the Sellers have been changed to non-voting common shares and class shares, therefore the ratio of voting rights in ARTham held by Kaken has become 100%. The sellers will be able to collect payments in Kaken's common stock equivalent up to ¥7.2 billion based on four strategic milestones.