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Sosei Group Corporation provides an operational update and financial results for the first half of 2021. The company reported revenue of JPY 3,123 million (US$28.9 million), marking an increase from the previous period. Key highlights include regaining worldwide rights to muscarinic agonist programs, receiving milestone payments totaling US$6 million from Genentech, and advancing multiple drug candidates into clinical trials. The company raised ¥29.8 billion through convertible bonds to support R&D and strategic initiatives. Despite increased expenses, the firm is focused on long-term growth and value creation.
Sosei Group Corporation (TSE: 4565) and InveniAI announced a new R&D collaboration aimed at discovering therapeutic concepts for immune diseases using AI and machine learning. The partnership seeks to explore G-protein coupled receptors (GPCRs) in immunomodulatory pathways, leveraging InveniAI's platform and Sosei's drug design capabilities. This collaboration could enhance drug discovery efficiency and focus on unmet medical needs, utilizing innovative technology to generate novel compounds and improve existing immunotherapy responses.
Sosei Group Corporation announced a significant milestone as Pfizer initiated clinical trials for a new drug candidate from their collaboration, triggering a US$5 million payment. This candidate, nominated in December 2019, is one of three clinical candidates now in Phase I trials. This achievement highlights Sosei's strong collaboration with Pfizer and its effective StaR® technology, bringing the total to nine drug candidates entering clinical trials. The partnership continues to progress with the potential for further milestone payments and royalties.
Sosei Group Corporation announced that Formosa Pharmaceuticals has initiated a Phase 3 clinical trial of APP13007 for post-cataract surgery inflammation, with the first patient dosed. This milestone triggers a US$2.5 million payment to Sosei Heptares. APP13007, created using Activus Pharma's technology, was divested to Formosa in 2017 as part of Sosei's strategic refocus on GPCR-targeted drugs. The trial's progress could yield further milestone payments and royalties from future sales, enhancing Sosei’s financial outlook.
Sosei Group Corporation provided an operational update and consolidated financial results for the year ended December 31, 2020. Despite challenges posed by the COVID-19 pandemic, the company secured multiple partnerships, including a global agreement with GlaxoSmithKline potentially worth £370 million. Financially, revenue totaled JPY 8,842 million (US$82.8 million), a decrease from the prior year, while cash earnings increased to JPY 2,904 million (US$27.2 million). The company also reported a net profit of JPY 1,479 million (US$13.8 million), driven by higher operating profit.
Sosei Group Corporation announced a strategic collaboration with Metrion Biosciences to leverage its structure-based drug design (SBDD) expertise for ion channels. This partnership aims to develop new drug leads targeting ion channels associated with neurological diseases. Metrion will provide its intellectual property and screening models while Sosei will focus on structure determination studies. Sosei will retain exclusive rights to all identified molecules. This collaboration is part of Sosei's strategy to enhance its drug discovery capabilities and strengthen its market position.
Sosei Group Corporation has confirmed that the first subject in a clinical trial has been dosed with a new drug candidate as part of its collaboration with Pfizer. This milestone triggers a payment of $5 million to Sosei Heptares. The drug candidate represents the eighth GPCR-targeted drug to enter clinical trials from Sosei Heptares' unique StaR® technology. Pfizer has nominated three clinical candidates from this partnership since 2019, highlighting the productive collaboration that aims to treat major diseases.
Sosei Group Corporation announces the appointment of Hironoshin Nomura as Senior Vice President of Investor Relations and Corporate Strategy. Nomura, previously a top-ranked analyst at Mizuho Securities, brings over 10 years of experience in the biotech and pharma sectors.
His expertise is expected to strengthen Sosei's growth strategy and investor relations as the company explores both organic and potentially transformative acquisition opportunities. According to CEO Shinichi Tamura, Nomura's background and network will significantly contribute to Sosei's objectives of developing innovative drug candidates.
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