December 15, 2021 | |
Company name: | SanBio Co., Ltd. |
Representative: | Keita Mori, Representative Director |
and President | |
(TSE Mothers Code: 4592) | |
Contact: | Yoshihiro Kakutani, Corporate Officer |
of Management Administration | |
(TEL. +81-3-6264-3481) |
Notice on Conclusion of Committed Credit Line Agreement with Resona Bank, Ltd.
SanBio Company Limited (hereafter, "the Company") hereby announces that today it entered into a committed credit line agreement with Resona Bank, Ltd.
For its SB623 development program in Japan targeting chronic effects of traumatic brain injury, the Company has been consulting with the Pharmaceuticals and Medical Devices Agency (PMDA) under the framework of Sakigake (expedited review) Designation System with the aim of applying for approval as soon as possible. The funds obtained based on the terms of the agreement are scheduled to be allocated to the establishment of post-launch manufacture, distribution, and marketing infrastructure for SB623, assuming approval is granted.
Total committed | Agreement | Expiration date | ||
Funding method | amount (of which, used | Remarks | ||
date | (repayment date) | |||
credit) | ||||
Committed credit | 1.0 billion yen | December | June 2023 | The committed credit line will |
line | (none) | 2021 | (June 2023) | commence on January 14, 2022. |
Main conditions of the agreement: | ||||
During the terms of the | ||||
agreement, the Company must | ||||
maintain net assets and after-tax | ||||
income above their corresponding | ||||
amounts indicated in the business | ||||
plan the Company submitted. |
This development is expected to have only a marginal impact on the Company Group's consolidated
earnings performance for the fiscal year ending January 2022.
1
References
Summary of fund procurementCounterparty | Funding method | Amount of funds | Agreement (or | Use of funds |
(lender) | procured | approval) date | ||
MUFG Bank, Ltd. | Committed credit | 2.0 billion yen | Aug. 2021 | Establishment of post-launch |
line | manufacture, distribution, and | |||
marketing infrastructure for SB623 | ||||
Total 2.0 billion | ||||
yen |
Counterparty | Funding method | Amount of funds | Agreement (or | Use of funds | |
(lender) | procured | approval) date | |||
Mizuho Bank, Ltd. | Committed credit | 2.0 billion yen | Dec. 2020 | - | Establishment of post-launch |
line with an option | manufacture, distribution, and | ||||
to extend the term | marketing infrastructure for SB623 | ||||
of the loan | |||||
Mizuho Bank | Term loan with a | 2.6 billion yen | Dec. 2020 | - | Establishment of post-launch |
commitment period | manufacture, distribution, and | ||||
marketing infrastructure for SB623 | |||||
Total 4.6 billion | |||||
yen |
Counterparty | Funding method | Amount of funds | Agreement (or | Use of funds |
(lender) | procured | approval) date | ||
Equity financing | 7.1 billion yen | - Increase in the number of contract | ||
(accelerated book | manufacturers to enhance mass | |||
building [ABB]) | production capabilities in | |||
anticipation of higher demand in | ||||
Europe and the US | ||||
- Manufacturing to build inventory | ||||
of SB623 for chronic effects of | ||||
traumatic brain injury in Japan |
Counterparty | Funding method | Amount of funds | Agreement (or | Use of funds | |
(lender) | procured | approval) date | |||
Mizuho Bank | Committed credit | 2.0 billion yen | Dec. 2018*1 | - | Establishment of post-launch |
line | manufacture, distribution, and | ||||
marketing infrastructure for SB623 | |||||
MUFG Bank | Committed credit | 2.0 billion yen | Nov. 2018*1 | - | Establishment of post-launch |
line | manufacture, distribution, and | ||||
marketing infrastructure for SB623 | |||||
Sumitomo Mitsui | Committed credit | 1.0 billion yen | Nov. 2018*1 | - | Establishment of post-launch |
Banking Corp. | line | manufacture, distribution, and | |||
marketing infrastructure for SB623 | |||||
Equity financing | 11.0 billion yen | - | Establishment of post-launch | ||
(warrants with a | manufacture, distribution, and | ||||
provision to revise | marketing infrastructure for SB623 | ||||
exercise price, via | - Development of SB623 for chronic |
2
third-party | effects of ischemic stroke in Japan, | |||
allotment) | and R&D to expand development | |||
regions for the drug with an eye | ||||
toward future sales | ||||
- R&D to expand indications for | ||||
SB623 and to in-license new | ||||
substances | ||||
Total 16.0 billion | ||||
yen |
Counterparty | Funding method | Amount of funds | Agreement (or | Use of funds |
(lender) | procured | approval) date | ||
MUFG Bank*2 | Loan | 900 million yen | Mar. 2017 | - Development of SB623 for chronic |
effects of ischemic stroke in the | ||||
US, and for chronic effects of | ||||
traumatic brain injury in Japan and | ||||
the US | ||||
California Institute | Subsidy | 19 million US | Jun. 2017 | - Development of SB623 for chronic |
for Regenerative | dollars | effects of ischemic stroke in the US | ||
Medicine (CIRM) | ||||
Mizuho Bank | Committed credit | 1.6 billion yen | Aug. 2017*1 | - Reserve for development of SB623 |
line | for chronic effects of traumatic | |||
brain injury in Japan and the US | ||||
MUFG Bank*2 | Committed credit | 500 million yen | Oct. 2017*1 | - Reserve for development of SB623 |
line | for chronic effects of traumatic | |||
brain injury in Japan and the US | ||||
Total 5.09 billion | ||||
yen |
Counterparty | Funding method | Amount of funds | Agreement (or | Use of funds |
(lender) | procured | approval) date | ||
Mizuho Bank | Committed credit | 1.0 billion yen | Mar. 2016*1 | Reserve for development of SB623 |
line | for chronic effects of traumatic brain | |||
injury in Japan and the US | ||||
Note 1: As of December 15, these agreements had expired as their terms had come to an end.
Note 2: Due to restructuring by function of Mitsubishi UFJ Financial Group, Inc., the counterparty (lender) was changed from Mitsubishi UFJ Trust and Banking Corp. to MUFG Bank, Ltd.
3
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
SanBio Co. Ltd. published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 07:08:02 UTC.