We are pleased to announce that Axcelead Inc. （President & CEO, Tomoyuki Fujisawa, “Axcelead” completed a stock transfer procedure with PassPort Technologies, Inc. (President & CEO：Tomoyuki Fujisawa, HQ：California, USA, “PPTI”) and acquired all outstanding stocks.

PPTI is a biotechnology company that aims to provide more value in the healthcare market through the development of novel therapeutic systems using “PassPort System”, a new drug delivery technology in combination with a microporation device that creates micropores on the skin surface and dry-patch technologies that controls a delivery of both small molecule and biologics via micropores. Thus, PassPort System has the potential to be a new administration option.

PPTI is currently preparing to start clinical trials for migraine in the U.S. and Alzheimer’s disease in Japan, and has research programs for diabetes, autoimmune diseases. Through these efforts, their pipeline is steadily expanding. In addition, PPTI entered into a business alliance in 2019 with Nitto Denko Corporation for manufacturing and Axcelead Group’s Axcelead Drug Discovery Partners Inc. for drug discovery research using the PassPort System so as to expedite the development and commercialization of their pipelines.

With the acquisition of PPTI, Axcelead has gained the high-potential pipeline to the group and pursue synergies among group companies to build an even stronger drug discovery platform business and maximize our corporate value.

■About Axcelead Inc.

Axcelead is a group of companies that develops a drug discovery platform business centered on Axcelead Drug Discovery Partners, Inc. (ADDP), Japan’s first integrated drug discovery solution provider, which took over Takeda’s drug discovery platform business in 2017. Axcelead, is the flagship portfolio company of Drug Discovery Gateway Fund, which was jointly established by Whiz Partners, Inc., and Takeda Pharmaceutical Company, Co., Ltd., in 2018, with the aim of promoting the drug discovery ecosystem in Japan and will make various contributions to healthcare broadly and globally. For more information on Axcelead and Whiz Partners, please visit the company’s website at https://www.axcelead-hd.com/ , and at http://www.whizp.com/ .

■ About PassPort Technologies, Inc.

The mission of PassPort Technologies, Inc. is to accelerate the development of superior pharmaceuticals using the PassPort System and delivery to patients as quickly as possible. In addition, the company aims to establish alliances with a wide range of companies in the life science industry (not only pharmaceutical companies, but also cosmetic companies) by placing headquarters in San Diego, USA, which is one of the world leading hot-spots with respect to biology and information technology, thus contributing to wellness of a greater number of people. For further information, please visit https://passport-tech.com.