OncoTherapy Science, Inc. and Theragen Etex Co.,Ltd., have agreed to form a joint venture company (JV company), named Cancer Precision Medicine Co. Ltd., a company engaged in research and development of cancer immunotherapy. Pursuant to the agreement, OncoTherapy Science will transfer research and development of cancer immunotherapy related business to the JV company, effective November 1, 2017.

The JV company will issue 150 new shares to Theragen Etex, at the price of JPY 1 million (USD 0.00876 million) per share, for JPY 150 million (USD 1.314 million), and payment date on August 7, 2017. Theragen Etex will acquire 310 shares of the JV company, at the price of JPY 1 million (USD 0.00876 million), for JPY 310 million (USD 2.72 million) in total, from OncoTherapy Science, effective November 15, 2017. OncoTherapy Science and Theragen Etex will hold a 64% stake and a 36% stake in the JV company finally.