Notice of Capital and Business Alliance Between Heartseed and MEDIPAL HOLDINGS

-Cooperation in Product Development for Innovative Cardiac Regenerative Medicine-

TOKYO–(BUSINESS WIRE)–#biotech–Tokyo-based Heartseed Inc. (“Heartseed”), a Keio University-originated biotechnology company developing induced pluripotent stem cell (iPSC)-derived cardiac regenerative medicine, and MEDIPAL HOLDINGS CORPORATION (“MEDIPAL”) today announced that they have entered into a capital and business alliance.

In conjunction with the alliance, MEDIPAL will acquire an equity stake in Heartseed. In addition, MEDIPAL and its wholly owned subsidiary SPLine Corporation (“SPLine”) will begin collaborative research with Heartseed on the logistics of Heartseed’s clinical trial supplies.

Purpose of the Alliance

Heartseed is developing HS-001, allogeneic iPSC-derived cardiomyocyte spheroids for severe heart failure, which currently has no effective treatment other than heart transplantation. In preparation for the initiation of its clinical trial, Heartseed will outsource its manufacturing to Nikon CeLL innovation Co., Ltd., and are discussing transport of the cardiomyocyte spheroids with MEDIPAL.

MEDIPAL has established a distribution system in compliance with Japanese Good Distribution Practice (GDP) guidelines. MEDIPAL is a pioneer in logistics services in the growing field of regenerative medicine, and has an extensive track record to support development of regenerative medicine products and to build a logistics system for them using its ultra-low temperature transport system.

In this alliance, MEDIPAL will contribute to the improvement of patient care by promoting development of Heartseed’s innovative products from the clinical trial stage with its experience and expertise in the distribution of regenerative medicine products.

For more information, please visit http://www.heartseed.jp/en/index.html#pipeline

Contacts

For Heartseed, Inc.:

Kikuo Yasui, COO

Tel: +81-3-6380-1068

For MEDIPAL HOLDINGS CORPORATION:

Corporate Planning and Public Relations Department

Tel: +81-3-3517-5171