Cell Therapy News/Articles, page-54

September 21, 2017
MEDIPAL HOLDINGS CORPORATION
JCR Pharmaceuticals Co., Ltd.

Translation
MEDIPAL HOLDINGS CORPORATION and JCR Pharmaceuticals Co., Ltd.
Strengthen Business and Capital Alliance
MEDIPAL HOLDINGS CORPORATION (Headquarters: Tokyo; Representative Director,
President and CEO Shuichi Watanabe) (“MEDIPAL”) and JCR Pharmaceuticals Co., Ltd.
(Headquarters: Ashiya, Hyogo; Chairman and President Shin Ashida) (“JCR”) resolved at
meetings of their respective Board of Directors held today to form a new business and
capital alliance between the two companies and signed the agreement for such alliance
(“the Agreement”).
Furthermore, it is announced that MEDIPAL has concluded a share transfer agreement with
GLAXO GROUP LIMITED (“GSK”) to acquire shares of JCR stock from GSK.
1. Reason for the Alliance
MEDIPAL and JCR have fostered a constructive relationship over the years, starting
with the alliance for a development project in July 2011, followed by a series of
development investment agreements. Such alliance has contributed in accelerating
JCR’s R&D activities and further led to a new collaboration on establishing a liquid
nitrogen-based ultra-low cold chain system for the distribution of TEMCELL® HS Inj.,
Japan’s first allogeneic regenerative medicine product, contributing to the treatment of
many patients. Until now, distribution of TEMCELL® HS Inj. has been limited to those
medical institutions which had participated in the clinical study. However, starting this
October, we anticipate expanding to other medical institutions sites as a result of
concerted efforts of both companies. In addition, sales of the products and clinical study
programs under development investment are progressing steadily.
By signing the Agreement, MEDIPAL and JCR have agreed to advance their
relationship to a broader level of business alliance with a new capital involvement from a
long-term perspective to further enhance the corporate values of both companies as
well as to propel continuous growth of the same, and to deepen the partnership to a
robust level, effectively leveraging MEDIPAL’s strengths in distribution and sales
promotion and JCR’s strengths in pharmaceutical research and development.