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CONTACTS : Reiko Sato (Japan)
Y's Therapeutics Co., Ltd.
+011 81 3 5784-2762
media.relations@ysthera.com

Debra Bannister (US Media)
530 676-8001
debban@pacbell.net

Y's Therapeutics Raises 1.2 billion yen (US $11.3million) in Series C Financing

Tokyo, Japan - December 20, 2004 - Y's Therapeutics Co., Ltd., a privately held biopharmaceutical company, today announced it has raised a total of 1.2 billion yen (US $11.3 million) through a Series C financing from new and existing investors. Key investors in this financing included Zenkoku Hosho Co., Ltd., Softbank Investment Corp. (through its managed investment fund) and Kyorin Pharmaceutical Co., Ltd. “We are pleased to add to the strong support from our existing investors with the addition of new investors,” noted Mr. Masanori Murayama, Co-founder, President and Chief Executive Officer of Y's Therapeutics. “The 1.2 billion yen raised through this financing will enable us to further accelerate the development of our five current projects, and also to in-license new seeds. We believe that 2005 will be an outstanding year for Y’s as we continue our development progress.” Y’s Therapeutics currently has five projects in its portfolio. YSIL6 is a small molecule drug development project for treatment of rheumatoid arthritis and other inflammatory disorders. The molecule’s modes of action include inhibition of TNF-α and IL-6 production in T-cells and macrophages and inhibition of T-cell migration. YSTH2 is a small chemical compound project for treatment of asthma and other allergic disorders. The compound’s modes of action include inhibition of T-cell proliferation and migration, and inhibition of Th-2 type and proinflammatory cytokine production, while exerting no effect on Th-1 type cytokine production. Both YSIL6 and YSTH2 have recently entered Phase II clinical testing. YSCMA is a humanized monoclonal antibody targeting malignant and immune disorders. The target antigen is a transmembrane glycoprotein found on selected tissues including leukocyte subsets and epithelial cells. The selected MAbs have demonstrated antitumor activity. Multiple biological functions of the target antigen have been identified including T-cell activation, processing of biological factors, interaction with extracellular matrix, and tumor development. YSAVA is also a humanized monoclonal antibody project for treatment of solid tumors with anti-angiogenesis activity. The novel antibody has demonstrated to be effective in inhibiting tumor growth. The MAb binds to the target expressed on newly formed blood vessels in various tumors, but is less reactive to normal tissues or cancer cells. YSTOP is a small molecule project with a broad spectrum of antitumor activities found in a particular natural resource. New chemical entities are to be identified and developed for cancer therapy. Extracts are also to be developed and marketed as dietary supplements. About Y's Therapeutics Co., Ltd. Y's Therapeutics,www.ysthera.com, is a privately held biopharmaceutical company engaged in the development of antibody therapies and small molecules for treatment of cancer, immune-mediated disorders and allergic diseases. The Company’s mission is to enhance the quality of life of patients and their families, and to respond to the world's unfulfilled medical needs. Y’s Therapeutics has five projects in its portfolio, having sourced those seeds from academia. The Company was founded in March 2003 by Masanori Murayama and Professor Chikao Morimoto (The Institute of Medical Science, University of Tokyo). It currently has three offices in Tokyo, San Francisco, and Dusseldorf.

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