TOKYO, January 25, 2021 -- Chugai Pharmaceutical Co., Ltd. (TOKYO: 4519) announced that Forerunner Pharma Research Co., Ltd. (Head Office: Kamakura City, Kanagawa; President: Masami Suzuki; hereafter “FPR”), a wholly-owned subsidiary of Chugai, will be dissolved on May 31, 2021. Therefore, the business operation of FPR will be terminated on March 31, 2021.

FPR was founded in April 2005 through a joint investment by Chugai, MITSUI & CO., LTD., and Central Institute for Experimental Animals as a research subsidiary engaging in open innovation, mainly through joint studies with external research institutions with the aim of exploring seeds for innovative new drugs and diagnostics. Since October 2011, FPR has been a wholly-owned subsidiary of Chugai. In collaboration with the University of Tokyo – the Research Center for Advanced Science and Technology, RIKEN, the University of Tokyo – Faculty of Medicine and Graduate School of Medicine, the National Cancer Center Japan (NCC), and other organizations, FPR has been establishing evaluation systems/tools for a deeper understanding of the pathology of diseases and accumulating data to conduct exploratory studies for providing new medical care and pharmaceutical treatments in the future.

The duration of FPR business was initially set at 5 years but was subsequently extended to March 31, 2021. FPR expects to achieve the planned results due to the smooth progress of operations, and hence it has been decided to be dissolved at the end of its business term. Chugai will continue the collaboration with the University of Tokyo – Faculty of Medicine and Graduate School of Medicine and the NCC, currently under contract with Chugai.

Chugai, which aims at becoming a top innovator in the healthcare industry, continues to pursue science and proprietary technology and promote open innovation including collaboration with academia, to contribute to patients across the world through innovative drugs.

About Forerunner Pharma Research Co., Ltd.

1. Company Name
   Forerunner Pharma Research Co., Ltd.
2. Head Office
   200 Kajiwara, Kamakura City, Kanagawa Pref.
3. Capital
   100 million JPY
4. Ownership
   Chugai Pharmaceutical Co., Ltd.
5. Main business activity
   Discovery and verification of new targets for therapeutic drugs and diagnostics
6. President
   Masami Suzuki (Chugai Pharmaceutical Co., Ltd.)
7. Established
   April 14, 2005