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6 May 2004

Lectus Therapeutics announces strategic investment from Takeda Research Investment to advance discovery programmes for next-generation ion channel drugs

Lectus Therapeutics Limited (Lectus; www.lectustherapeutics.com), an emerging UK-based bio-pharmaceutical company focused on the discovery and development of next-generation ion channel modulators, announced today it had secured a strategic investment from Takeda Research Investment Inc. (TRI) to advance its core ion channel drug discovery and development programmes. Full details of the terms of the strategic partnership between Lectus and TRI were not disclosed.

Lectus is set to exploit the power of its unique proprietary functional proteomics platform, LEPTICSTM (Leveraged Enabling Proteomics Technology for Ion Channel Screening), to develop next-generation ion channel modulators that offer an enhanced safety profile for the treatment of disorders related to smooth muscle hyperreactivity. Lectus will initially focus on the development of its programmes in Urinary Bladder Disorders, Angina and Hypertension.

TRI (Palo Alto, CA, USA) is the corporate venture arm of Takeda Chemical Industries Ltd. (TCI), the largest pharmaceutical company in Japan. TRI began operations in 2002 with the mission to support early stage biotechnology ventures through capital investment and the provision of access to the resources of Takeda.

Roland Kozlowski, co-founder and CEO of Lectus said, “This strategic partnership with TRI is a huge endorsement of the company’s technology and commercial strategy. With the investment from TRI and the competitive advantages afforded by LEPTICSTM, a technology which clearly differentiates Lectus from other ion channel businesses, the company is positioned to exploit ion channel drug targets that are otherwise inaccessible to existing technologies. This will enable Lectus to advance both its own programmes, as well as those of its partners, other pharmaceutical and biotech companies, and boosts the company’s anticipated valuation to several million dollars.”

Koichi Kato, President and CEO of TRI added, “Our philosophy is to invest in early stage companies founded on excellent science, and managed by a team with a track-record of success. Lectus is a natural fit for our portfolio, and we are delighted to work with the company to accelerate the development and implementation of LEPTICSTM. We believe this innovative technology offers significant promise for pharmaceutical discovery in areas of key strategic importance for Takeda.”

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Lectus Therapeutics Ltd. 2003–2008