Received Milestone Payment from Orient EuroPharma

　　for the development of 2-carba cyclic phosphatidic acid (2ccPA) as a novel treatment for 　　osteoarthritis, we have received a milestone payment from Orient EuroPharma (OEP) in Taiwan.

　　OEP conducted Phase Ib and Phase IIa clinical trials in Taiwan for our compound SSO-001,

　　a novel drug candidate for osteoarthritis originating from our research.

　　Upon completion of these trials, the corresponding milestone criteria were met,

　　resulting in the milestone payment to our company.

　　Our President & CEO, Toshiro Morohoshi, commented:

　　“With the progressing aging society, the number of patients with osteoarthritis continues to 

　　grow globally.

　　We hope that SSO-001 will become a new therapeutic option for these patients.”

　　Under this licensing agreement, our company has granted OEP exclusive rights for development 　　and commercialization in Asia (excluding Japan).

　　In return, we are entitled to milestone payments based on development and regulatory 　　progress, as well as royalties on future sales following commercialization.