Tokyo - Teijin Pharma Limited, the core company of the Teijin Group's healthcare business, announced today that it has entered into an exclusive global license agreement with Novartis to research, develop, manufacture and commercialize an investigational preclinical candidate for proteinuric kidney diseases.

The investigational small molecule candidate was discovered at the Teijin Institute for Bio-medical Research, Teijin Pharma's drug development base in Tokyo. The candidate acts in a genetically validated pathway and is believed to impact the pathogenesis of multiple kidney diseases. Under the terms of the license agreement, Teijin Pharma will grant Novartis exclusive worldwide rights to research, develop, manufacture and commercialize the candidate for all potential indications. Teijin Pharma will receive an upfront cash payment of USD 30 million from Novartis and is eligible to receive potential development and commercial milestone payments of up to USD 200 million. Teijin Pharma is further eligible to receive additional sales milestones and tiered annual net sales royalties.

Teijin Pharma is committed to developing new options for diseases that as of yet have no effective treatment. In licensing this compound to Novartis, Teijin Pharma lays groundwork to quickly deliver a new therapy to patients around the world and address issues of patients, families and communities in need of more support. Going forward, Teijin Pharma will continue to pursue alliances to maximize the value of pharmaceuticals that the company researches and develops in-house.

About the Teijin Group

Teijin (TSE: 3401) is a technology-driven global group offering advanced solutions in the fields of environmental value; safety, security and disaster mitigation and demographic change and increased health consciousness. Originally established as Japan's first rayon manufacturer in 1918, Teijin has evolved into a unique enterprise encompassing three core business domains: high-performance materials including aramid, carbon fibers and composites, and also resin and plastic processing, films, polyester fibers and products converting; healthcare including pharmaceuticals and home healthcare equipment for bone/joint, respiratory and cardiovascular/metabolic diseases, nursing care and pre-symptomatic healthcare and IT including B2B solutions for medical, corporate and public systems as well as packaged software and B2C online services for digital entertainment. Deeply committed to its stakeholders, as expressed in the brand statement 'Human Chemistry, Human Solutions,' Teijin aims to be a company that supports the society of the future. The group comprises some 170 companies and employs some 20,000 people across 20 countries worldwide. Teijin posted consolidated sales of JPY 926.1 billion (USD 7.2 billion) and total assets of JPY 1,207.6 billion (USD 9.4 billion) in the fiscal year that ended on March 31, 2022.

Contact:

Tel: +81 (0)3 3506 4055

Email: pr@teijin.co.jp

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