AnGes : Notice on the Option Agreement Concerning Exclusive License of Intellectual Property Rights Held by miRaX Therapeutics

January 10, 2023

Company Name: AnGes Inc.

Presentative: Ei Yamada, President & CEO

Notice on the Option Agreement Concerning Exclusive License of Intellectual

Property Rights Held by miRaX Therapeutics

AnGes Inc. announces that it has decided to enter into a preferential option agreement (the "Option Agreement") to negotiate for an exclusive license for the intellectual property rights to research microRNA inhibitors owned by miRaX Therapeutics("miRaX").

1. Outline of Option Contracts

Since its establishment, AnGes has been engaged in the development of gene therapy products such as Collategene, an HGF gene therapy product, and nucleic acid drugs for inflammatory diseases such as intervertebral disc degeneration using NFκB decoy oligo DNA. By signing the Option Agreement for a microRNA inhibitor to be studied by miRaX, AnGes has the opportunity to explore the potential for drug discovery with Tough decoy*, a new nucleic acid medicine targeting microRNAs.

AnGes will pay 25 million yen to miRaX upon the conclusion of this Option Agreement. AnGes will then receive reports on the research results based on the agreement, and milestone payments will be made if AnGes decides to continue the research. The maximum amount to be paid by AnGes under the agreement is 80 million yen. The research period of the contract is expected to be approximately 8 months.

If AnGes decides to proceed to the next step after receiving the final report of the research results as stipulated in this agreement, the terms and conditions of such decision will be determined through separate discussions with miRaX.

2. About miRaX
Company Name	miRaX Therapeutics K. K.
Location	5F Bancho Kojimachi Bldg, 6-6-2 Kojimachi, Chiyoda-ku, Tokyo
Representative	Hideo Iba（CEO, Ph.D）
Summary	miRaX is developing therapeutic agents for liver fibrosis (the final form
	is cirrhosis), in which collagen fibers accumulate and harden in the liver
	that has been chronically damaged by viral hepatitis, heavy alcohol
	consumption, fatty liver due to overeating, etc.
Capital Sotock	22 million yen
Establishment	May 2020

(Note)This document has been translated from the Japanese original for reference purposes only.

In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.

3. About MicroRNA Inhibitors

Multifactorial diseases, which are caused by the complex interplay of multiple genes (groups of genes), were said to be difficult to treat with drugs because conventional drugs could not control the disease. MicroRNAs regulate cell proliferation, differentiation, metabolism, and cell death by collectively suppressing the expression of specific gene groups, and it has been found that when too much microRNA becomes uncontrollable, it causes various diseases.

miRaX is conducting research on microRNA inhibitors to treat diseases by suppressing microRNAs to appropriate levels.

4. Future outlook

The impact of this option agreement on AnGes's consolidated results of operations and financial position for the current fiscal year is not expected to be material. The Company plans to announce its earnings forecast for the fiscal year ending December 31, 2022, when it has reached a point of reckoning regarding the aggregation of its earnings, and will disclose the amount in light of this agreement in its earnings forecast for the current fiscal year, which is scheduled to be disclosed in the future.

*Tough decoy : A decoy nucleic acid that binds complementary to a specific microRNA and prevents its activity

(Note)This document has been translated from the Japanese original for reference purposes only.

In the event of any discrepancy between this translation and the Japanese original, the original shall prevail.