NIPPON SHOKUBAI CO., LTD. (Headquarter: Osaka, Japan, President: Yujiro Goto, hereinafter “Nippon Shokubai”) announces that Nippon Shokubai has decided additional investment to GlyTech, Inc. (Headquarter: Kyoto, Japan, President: Hiroaki Asai, hereinafter “GlyTech”) through a third party allotment, and completed payment procedures.
1. Purpose of the Additional Investment
GlyTech and Nippon Shokubai have been collaborating on research and clinical development of Glycosylated Somatostatin Analog since 2014, and Nippon Shokubai acquired the shares of GlyTech through the third-party allocation in 2015 with the aim of developing the collaboration. Through the additional investment, GlyTech and Nippon Shokubai will accelerate the collaborative research and clinical development in order to promote Glycosylated Somatostatin Analog practical. By means of it, Nippon Shokubai is supporting business development of GlyTech and working for social contribution.
2. Outline of the Investment
Class and numbers of shares to be subscribed : 222,222 shares of Class B preferred stock
Share-holding after subscription : 14.03% of all issued stocks (Voting stocks)
Payment date : March 6th, 2018
3. Outline of GlyTech
Name : GlyTech Inc.
Head Office : 134, Chudoji Minamimachi KRP#1,Shimogyo-ku, Kyoto 600-8813, Japan
Representative : Hiroaki Asai,President
Activity : Licensing(glycosilated peptides and proteins),contract research and
development, contract manufacturing, supplying standard reagents
Capital : 90 million yen
Established : April 2nd, 2012
Numbers of shares outstanding : 4,171,910 shares (All stocks with voting right)
End of fiscal year : December 31st
Employees : 21 (as of February 2018)
Website : http://www.glytech.jp/en/