English translation

Summary of Financial Results
for the First Quarter of Fiscal Year Ending December 31, 2018
[Japanese GAAP] (Non-consolidated)
May 10, 2018
Company Name

SymBio Pharmaceuticals Limited

Listing: Tokyo Stock Exchange

Securities Code4582

URL: http://www.symbiopharma.com/

Representative

Representative Director,
President and Chief Executive Officer

Fuminori Yoshida

Contact Person

Corporate Officer, Director of Finance &Accounting and Chief Financial Officer

Kenji Murata

TEL +81-3-5472-1125

Scheduled Date to File
Quarterly Report

May 11, 2018

Date of Dividend
Payment (plan)－

Supplementary materials for quarterly financial results:

Yes

No

Holding of quarterly earnings performance review:

Yes

No(Millions of yen – rounded down, unless otherwise stated)

1. Business Results for the First Quarter of FY 2018 (cumulative) (January 1, 2018 to March 31, 2018)(1) Operating Results (cumulative)(Percentages indicate year-on-year changes)
Operating Income
Ordinary Income
Quarterly Net Income
Net Sales(Loss)(Loss)(Loss)
Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen

%

888
869

2.1
350.1

(714)
(525)

－
－

(748)
(583)

－
－

(759)
(582)

－
－

1Q FY 2018
1Q FY 2017

Quarterly Net Income(Loss) per Share

Diluted Quarterly Net
Income per ShareYen
Yen
1Q FY 2018(13.28)－1Q FY 2017(12.12)－(Note) Diluted quarterly net income per share is not stated above due to quarterly net loss per share, despite the potential dilution of shares.
(2) Financial Position

1Q FY 2018 (as of March 31, 2018)
FY 2017 (as of December 31, 2017)

Total Assets

Net Assets

Millions of yen
4,216
4,252

Millions of yen
3,327
3,239

(Reference) Shareholders’ equity: 1Q FY 2018 (as of March 31, 2018)
FY 2017 (as of December 31, 2017)

Equity Ratio
%
65.7
63.6

2,769 million yen
2,702 million yen

2. Dividends

FY 2017
FY 2018
FY 2018 (Forecast)

1st Quarter
Yen－－

Annual Dividend per Share
2nd Quarter
3rd Quarter
Fiscal Year End
Yen
Yen
Yen
0.00
－
0.00
0.00

(Note) Revision of dividend forecasts recently announced:－
Yes ・ No

0.00

Full Year
Yen
0.00
0.00

3. Earnings Forecasts for FY 2018 (January 1, 2018 to December 31, 2018)(Percentages indicate year-on-year changes)

Operating
Income (Loss)

Net Sales
Millions of yen

Full Year

4,201% Millions of yen

22.0

Ordinary
Income (Loss)% Millions of yen(2,981)－(Note) Revision of earnings forecasts recently announced:(3,044)Net Income (Loss)Net Income (Loss)
per Share% Millions of yen%

Yen(3,056)－(52.99)－Yes ・ No

Notes:(1) Application of special accounting treatment in
preparation of quarterly financial reports:

Yes ・ No

(2) Changes in accounting policies, changes in accounting estimates and restatements after error corrections(a) Changes in accounting policies due to revisionof accounting standards:

Yes ・ No(b) Changes in accounting policies due to otherreasons:

Yes ・ No(c) Changes in accounting estimates:

Yes ・ No(d) Restatements after error corrections:

Yes ・ No

(3) Number of shares outstanding (common stock)(i) Number of shares outstanding at the end of
the period (including treasury stock)

1Q FY 201857,828,524 shares

FY 201754,049,224 shares(ii) Number of shares of treasury stock at theend of the period

1Q FY 201875 shares

FY 201775 shares(iii) Average number of shares during the period(cumulative)

1Q FY 201857,221,360 shares

1Q FY 2017

48,095,755 shares* The quarterly financial statements are not subject to quarterly reviews by certified public accountants or an accounting auditor.
* Explanation regarding the appropriate use of earnings forecasts and other matters
All forecasts presented in this document, including the earnings outlook, are based on the information currently available tomanagement and assumptions determined by management to be reasonable. Actual results may differ substantially from these
forecasts due to various factors. Regarding the assumptions on which the Company’s earnings forecasts are based and theirusage, please refer to “1. Qualitative Information Concerning Quarterly Financial Results, (3) Qualitative information
concerning earnings forecasts,” on page 3 of the attachment.

Index of the attachment
1. Qualitative Information Concerning Quarterly Financial Results …………………………………………………….……..

1(1) Qualitative information concerning business results ……………………………………………………………………..

1(2) Qualitative information concerning financial position …………………………………………….……………………..

3(3) Qualitative information concerning earnings forecasts …………………………………………………………………..

3

2. Quarterly Financial Statements and Primary Notes ………………………………………………………………………….

4(1) Quarterly balance sheets ………………………………………………………………………….………………………

4(2) Quarterly statements of operations (cumulative) …………………………………………………………………………

5(3) Notes on quarterly financial statements …………………………………………………………………………………..

6(Notes regarding going concern assumption) ……………………………………………………………………………..

6(Notes regarding significant changes in shareholders’ equity) ………………………………….………………………...

6(Significant subsequent events) ……………………………………………………………..……………….………….…

6

1. Qualitative Information Concerning Quarterly Financial Results(1) Qualitative information concerning business results
Progress in the Company’s business for the first quarter of FY 2018 is as follows:(i) Domestic[Anticancer agent: SyB L-0501 (lyophilized powder formulation), SyB L-1701 (ready-to-dilute (“RTD”) formulation), SyB
L-1702 (rapid infusion (“RI”) formulation) and SyB C-0501 (oral formulation) (generic name: bendamustine hydrochloride,
trade name: TREAKISYM®)]
The Company markets TREAKISYM® in Japan through its business partner, Eisai Co., Ltd. (“Eisai”). The Company
obtained marketing approval for first-line treatment of low-grade non-Hodgkin’s lymphoma and mantle cell lymphoma in
December 2016, and for chronic lymphocytic leukemia in August 2016. These are in addition to the approvals for theindications of recurrent/refractory low-grade non-Hodgkin’s lymphoma and mantle cell lymphoma which were obtained in
October 2010. Following this indication expansion, TREAKISYM® is steadily increasing its market share in the area offirst-line treatment by replacing R-CHOP, the conventional standard treatment, resulting in a significant in-market sales
increase of 32.4% year-on-year (NHI price basis). Net sales to Eisai progressed as planned.
In addition to the three already-approved indications, the Company has started a Phase III clinical trial forrecurrent/refractory intermediate/high-grade non-Hodgkin’s lymphoma (diffuse large B-cell lymphoma, or “DLBCL”) andis currently working on patient enrollment towards obtaining approval. The trial is in response to serious need at clinics andhospitals as there is currently no reliable standard treatment. Patient groups have petitioned to the regulatory authorities forthe approval of BR therapy. With a view to providing new therapeutic alternatives and to maximize product value, theCompany engaged in consultations with the Pharmaceuticals and Medical Devices Agency (“PMDA”) after the completionof a Phase II clinical trial. The Company began the Phase III clinical trial in August 2017 and the first patient was enrolled
in January 2018.
In addition to these initiatives toward the approval of additional indications, the Company entered into an exclusive
license agreement with Eagle Pharmaceuticals, Inc. (head office: New Jersey, U.S.) (“Eagle”) in September 2017, underwhich Eagle licensed to the Company rights under Eagle’s intellectual property to develop, market, and sell Eagle’s RTD
and RI liquid formulations (TREAKISYM® liquid formulation) (Note 1) in Japan. This will further enable the Company toextend the product life until 2031 through patent protection and maximize the value of TREAKISYM®, while bringing
significant benefits to patients and healthcare providers. The Company is in the process of preparing for the application for
the approval of the RTD formulation and for a clinical trial for the RI formulation, following consultations with the PMDA.
In addition to the development and expansion of the intravenous formulation product, the Company is exploring thedevelopment of an oral formulation of TREAKISYM® with a focus on the treatment of solid tumors and autoimmune
diseases and intends to further expand the business, with an aim to solidify its business through a platform of
TREAKISYM® products. Amid such initiatives, the Company commenced a Phase I clinical trial for progressive solid
tumors in January 2018, with the aim of examining the recommended dosage and schedule as well as tolerability and safetyof the oral formulation of TREAKISYM®, and identifying potential target tumor types. Meanwhile, with a view toevaluating the effect of oral administration of TREAKISYM® on the immune system, the Company concluded a joint
research agreement with Keio University in May 2018 to conduct a pre-clinical trial to verify the therapeutic value of thisproduct in the treatment of systemic lupus erythematosus (SLE), a form of autoimmune disease.
(Note 1) RTD and RI are pre-dissolved liquid formulations that differ from the currently available freeze-dried (“FD”)
powder formulation. RTD (ready-to-dilute) will significantly reduce the preparation time and labor cost for
healthcare providers, and RI (rapid infusion) will reduce infusion duration to 10 minutes from the current 60
minutes, providing significant benefit and value to both patients and healthcare providers.
[Anticancer agents: SyB L-1101 (intravenous formulation) and SyB C-1101 (oral formulation), generic name: rigosertib
sodium]U.S. Licensor Onconova Therapeutics, Inc. (head office: Pennsylvania, U.S.) (“Onconova”) is conducting a global Phase
III clinical trial (with trial sites in more than 20 countries) of the intravenous formulation of rigosertib for higher-risk
myelodysplastic syndromes (HR-MDS) which do not respond to the current standard treatment with hypomethylating
agents (“primary HMA failure”) or which relapse after treatment under the current standard of care. The Company is
responsible for clinical development in Japan and in December 2015 began a domestic trial. More than 30 patients are
already enrolled and patient enrollment is proceeding favorably. Based on the results of the interim analysis completed in-1-

January 2018, the Company will continue the trial with a one-time increase in patient enrollment in accordance with predetermined statistical criteria. On the basis of these results, the Company is planning to apply for approval in Japan at thesame time as in the U.S. and Europe.
As for the oral formulation of rigosertib, Onconova has been conducting Phase I/II clinical trials in the U.S. for the target
indication of first-line higher-risk myelodysplastic syndromes (MDS) (in combination with azacitidine (Note 2)), along with a
Phase II clinical trial for the target indication of transfusion-dependent lower-risk MDS. The Company started a domestic
Phase I clinical trial in June 2017 to confirm the tolerability and safety of the oral formulation of rigosertib for Japanesepatients. The first patient was enrolled in October 2017 and patient enrollment is proceeding favorably. After completion ofthis trial, the Company plans to conduct a clinical trial for combination therapy with azacitidine, to take part in Onconova’splanned global Phase III clinical trial for combination therapy with azacitidine for the first-line treatment of patients withhigher-risk MDS, and to apply for approval of the oral formulation of rigosertib in Japan in timing alignment with the U.S.
and Europe. With respect to the development for the target indication of transfusion-dependent lower-risk MDS, theCompany will continue to monitor Onconova’s development activities with a view to participating from Japan.
(Note 2) About azacitidine (Vidaza®: currently marketed by Nippon Shinyaku Co., Ltd.): This drug (for injection) wasapproved in 2011 based on results showing extended overall survival for the first time in the Phase III clinical trial
for the indication of MDS. It is currently used as a first-line drug for MDS patients who have difficulties inhematopoietic stem cell transplantation. MDS is a preleukemic state, and decrease in tumor suppressor gene due toexcessive methylation of DNA is thought to be related to the disease. Hypomethylating agents such as azacitidine
are thought to suppress progress to leukemia by restoring tumor suppressor gene with a deterrent effect against
methylation of DNA.
[Patient-controlled iontophoretic transdermal system for the short-term management of acute post-operative pain: SyB P1501]
In October 2015, the Company entered into an agreement with Incline Therapeutics, Inc., a wholly-owned subsidiary ofUS-based The Medicines Company (Head Office: New Jersey, U.S.) for an exclusive license to develop and commercialize
SyB P-1501 in Japan. The Company, acting in the best interest of patients, determined to temporarily suspend new patient
enrollment for SyB P-1501 from April 21, 2017 due to its recently arising concern as to the continuity of The Medicines
Company’s business regarding the product.
The Company later initiated arbitration against The Medicines Company on October 11, 2017 under the rules of theInternational Chamber of Commerce, seeking damages of 82 million U.S. dollar (approximately 9.0 billion yen) arisingfrom The Medicines Company’s repudiation of the license agreement. The Company claims that The Medicines Company
failed to provide the Company with adequate assurance of performance of its contractual obligations under the license
agreement in light of its decision to discontinue commercialization activities regarding the product and withdraw frommarkets in the U.S. and Europe, and that such failure by The Medicines Company is a material breach of the license
agreement. Furthermore, the Company terminated the license agreement on November 30, 2017, based on the fact thatbreach of the license agreement by The Medicines Company was not remedied within the stipulated time, and terminatedthe development of SyB P-1501 on February 9, 2018.
[New drug candidates]
The Company continues to actively seek new drug candidates and in-licensing opportunities globally, aiming to expand
both profitability and growth potential over the medium-to-long-term, and discussions with multiple potential licensors are
ongoing.
In May 2016, the Company established a wholly-owned subsidiary, SymBio Pharma USA, Inc. (Menlo Park, California,
U.S., “SymBio Pharma USA”), as the Company’s planned strategic base for overseas business development. Acquiring
rights to new drug candidates through SymBio Pharma USA as the base of global business will be part of the Company’s
continued transformation into a global specialty biopharmaceutical company with capability to develop and commercialize
new drugs in the U.S., Japan, Europe, and other major global markets.
(ii) Markets outside Japan
SyB L-0501 is also marketed in South Korea, Taiwan and Singapore and the product sales of SyB L-0501 in thesecountries progressed mainly in line with the Company’s forecasts.

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(iii) Business results (cumulative)
As a result of the above, net sales totaled 888,229 thousand yen for the first quarter of fiscal year ending December 31,
2018, primarily reflecting product sales of TREAKISYM®. Overall net sales rose 2.1% year-on-year.
Selling, general and administrative expenses totaled 964,024 thousand yen (a year-on-year increase of 26.1%), including
research and development (“R&D”) expenses of 416,247 thousand yen (a year-on-year increase of 5.3%) primarily due to
expenses associated with the clinical trial for the intravenous and oral formulations of TREAKISYM® as well as theintravenous and oral formulations of rigosertib, and other selling, general and administrative expenses of 547,777 thousandyen (a year-on-year increase of 48.4%).
As a result, an operating loss of 714,524 thousand yen was recognized for the first quarter of fiscal year ending
December 31, 2018 (compared to an operating loss of 525,204 thousand yen for the first quarter of the previous fiscal year).
In addition, including non-operating expenses totaling 34,964 thousand yen primarily comprised of foreign exchange losses,
ordinary loss totaled 748,913 thousand yen (compared to an ordinary loss of 583,008 thousand yen for the first quarter ofthe previous fiscal year) and net loss totaled 759,692 thousand yen (compared to a net loss of 582,768 thousand yen for the
first quarter of the previous fiscal year).
Segment information has been omitted as the Company operates within a single segment of the pharmaceutical industry,
which includes the development and commercialization of drugs, manufacturing, marketing and other related activities.
(2) Qualitative information concerning financial position
Total assets as of March 31, 2018 stood at 4,216,150 thousand yen, a decrease of 36,134 thousand yen from the previous fiscal
year end. The decrease was primarily due to decreases of 160,274 thousand yen in merchandise and finished goods, 80,093
thousand yen in consumption taxes receivable and 13,918 thousand yen in lease and guarantee deposits, offsetting increases of
186,997 thousand yen in cash and deposits, 18,160 thousand yen in advances paid and 10,729 thousand yen in buildings.
Liabilities stood at 888,465 thousand yen, a decrease of 124,416 thousand yen from the previous fiscal year end, primarilyreflecting a decrease of 219,083 thousand yen in accounts payable-trade and 30,427 thousand yen in income taxes payable,
offsetting an increase of 120,881 thousand yen in accounts payable-other.
Net assets increased by 88,282 thousand yen from the previous fiscal year end to 3,327,684 thousand yen, due to the exerciseof stock acquisition rights, etc., offsetting a decrease of 759,692 thousand yen in retained earnings following the recognition of
net loss.
As a result, the equity ratio increased to 65.7% by 2.1 percentage points from the previous fiscal year end.
(3) Qualitative information concerning earnings forecasts
No revision was made to the earnings forecasts for FY 2018 as of the date of this document.

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2. Quarterly Financial Statements and Primary Notes(1) Quarterly balance sheets
FY 2017(as of December 31, 2017)(Unit: thousands of yen)
1Q FY 2018(as of March 31, 2018)

2,947,059
489,874
362,51473,72018,76098,44046,152
4,036,522

3,134,057
491,942202,240
82,47436,921
18,34728,672
3,994,654

28,48618,32264
46,87339,215
20,1008,893
68,20965,583
3,295
68,87863,154－
63,1540
14,20985,799100,008
215,761
4,252,284

0
18,25071,88090,131
221,495
4,216,150

604,382
330,867
54,813
21,427
1,011,490

385,298
451,748
24,38625,587887,021

1,392
1,392
1,012,882

1,444
1,444
888,465

10,761,676
10,731,676(18,790,705)(17)
2,702,629
536,772
3,239,402
4,252,284

11,175,022
11,145,022(19,550,398)(17)
2,769,629
558,055
3,327,684
4,216,150

AssetsCurrent assets
Cash and deposits
Accounts receivable-trade
Merchandise and finished goods
Prepaid expenses
Advances paid
Consumption taxes receivable
Other
Total current assets
Non-current assets
Property, plant and equipment
Buildings, net
Tools, furniture and fixtures, net
Construction in progress
Total property, plant and equipment
Intangible assets
Software
Software in progress
Total intangible assets
Investments and other assets
Shares of subsidiaries
Long-term prepaid expenses
Lease and guarantee deposits
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Accounts payable-trade
Accounts payable-other
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Provision for retirement benefits
Total non-current liabilities
Total liabilities
Net assets
Shareholders’ equity
Common stock
Capital surplus
Retained earnings (accumulated deficits)
Treasury stock
Total shareholders’ equity
Stock acquisition rights
Total net assets
Total liabilities and net assets-4-(2) Quarterly statements of operations (cumulative)(For the first quarter of the fiscal year ending December 31, 2018)(Unit: thousands of yen)
1Q FY 2018
1Q FY 2017(from January 1, 2018(from January 1, 2017
to March 31, 2018)
to March 31, 2017)869,614888,229
630,602638,729
239,012249,500
764,216
964,024(525,204)(714,524)

Net sales
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Operating loss
Non-operating income
Interest income
Interest on refund
Other
Total non-operating income
Non-operating expenses
Commission fees
Stock issuance costs
Foreign exchange losses
Total non-operating expenses
Ordinary loss
Extraordinary gain
Gain on reversal of stock acquisition rights
Total extraordinary gain
Extraordinary loss
Loss on retirement of non-current assets
Total extraordinary loss
Loss before income taxes
Income taxes-current
Total income taxes
Net loss

-5-

1,552
69
0
1,621

405
116
54
575

2,260
1,969
55,19759,426(583,008)

2,736
5,012
27,21534,964(748,913)

1,190
1,190

－
－

－
－
(581,818)950
950(582,768)

9,829
9,829
(758,742)
950
950(759,692)

(3) Notes on quarterly financial statements(Notes regarding going concern assumption)
None to be reported.
(Notes regarding significant changes in shareholders’ equity)
During the first quarter of fiscal year ending December 31, 2018, new shares were issued upon the exercise ofpart of the 33rd and 42nd stock acquisition rights. As a result, during the first quarter of fiscal year ending
December 31, 2018, common stock and capital surplus increased by 413,346 thousand yen and 413,346 thousand
yen respectively, amounting to 11,175,022 thousand yen and 11,145,022 thousand yen respectively as of March
31, 2018.
(Significant subsequent events)
Issuance of 43rd stock acquisition rights (stock option)
At the Board of Directors’ meeting held on March 29, 2018, a resolution was passed regarding the issuance ofstock acquisition rights as stock option to the six (6) Directors of the Company as follows. The stock option wasallotted to the relevant Directors on the allotment date of April 26, 2018.

1.

Number of stock option
Class and number of shares
underlying the stock option
Issue price/ Total issue priceof the stock option
Amount to be paid in for the stock
option3,050 units
Common stock

305,000 shares

Issue price
19,800 yen
Total issue price60,390,000 yen
Amount to be paid in: 198 yen per share
The recipient (“Recipient”) shall set off his/her claims for compensation
against the Company in lieu of payment of monies for the stockacquisition rights allotted.

Exercise price of the stock option

Exercise price per share of one (1) yen

Period during which the stock
option can be exercised

From March 30, 2021 to March 29, 2028

Terms and conditions for exerciseof the stock option

Increase in paid-in capital due tothe issuance of shares upon
exercise of the stock option
Matters concerning transfer of thestock option(1) The Recipient must have the status as a director or employee of theCompany or its affiliates at the time of exercise. However, this is notnecessarily the case if: (a) the Recipient is a director of the Company
or its affiliates and retires due to the expiry of her/his term, (b) the
Recipient is an employee of the Company or its affiliates and retires
due to compulsory retirement or (c) the Recipient is a director or
employee of the Company or its affiliates and the Board of Directors
resolves that he/she has resigned or retired with honorable
recognition.
(2) For other terms and conditions, the Company and directors shallcomply with the Stock Option Allotment Agreement concluded
between the parties.
Increase in the amount of paid-in capital due to the issuance of shares
upon the exercise of stock option shall be one-half of the maximum
amount of paid-in capital increase and others, which is calculated inaccordance with Article 17 of the Corporation Accounting Rules, andany fraction less than one (1) yen arising therefrom shall be rounded up
to the nearest one (1) yen.
Requires approval at the Board of Directors’ meeting.

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2.

Issuance of 44th stock acquisition rights (stock option)
At the Board of Directors’ meeting held on March 29, 2018, a resolution was passed regarding the issuance ofstock acquisition rights as stock option to the 71 Company employees as follows. The stock option was allotted to
relevant employees on the allotment date of April 26, 2018.
Number of stock option
Class and number of shares
underlying the stock option
Issue price/ Total issue priceof the stock option
Amount to be paid in for the stock
option4,648 units
Common stock464,800 shares

Issue price
19,800 yen
Total issue price
92,030,400 yen
Amount to be paid in: 198 yen per share
The Recipient shall set off his/her claims for compensation against theCompany in lieu of payment of monies for the stock acquisition rights
allotted.

Exercise price of the stock option

Exercise price per share of one (1) yen

Period during which the stock
option can be exercised

From March 30, 2021 to March 29, 2028

Terms and conditions for exerciseof the stock option

Increase in paid-in capital
due to the issuance of shares upon
exercise of the stock option
Matters concerning transfer of thestock option(1) The Recipient must have the status as a director or employee of theCompany or its affiliates at the time of exercise. However, this is notnecessarily the case if: (a) the Recipient is a director of the Company
or its affiliates and retires due to the expiry of her/his term, (b) the
Recipient is an employee of the Company or its affiliates and retires
due to compulsory retirement or (c) the Recipient is a director or
employee of the Company or its affiliates and the Board of Directors
resolves that he/she has resigned or retired with honorable
recognition.
(2) For other terms and conditions, the Company and the employees shallcomply with the Stock Option Allotment Agreement concluded
between the parties.
Increase in the amount of paid-in capital due to the issuance of shares
upon the exercise of stock option shall be one-half of the maximum
amount of paid-in capital increase and others, which is calculated inaccordance with Article 17 of the Corporation Accounting Rules, andany fraction less than one (1) yen arising therefrom shall be rounded up
to the nearest one (1) yen.
Requires approval at the Board of Directors’ meeting.

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3. Issuance of 45th through 47th stock acquisition rights with exercise price revision clauses
The Company made a resolution at the Board of Directors’ meeting held on April 9, 2018 to issue the 45th
through 47th stock acquisition rights with exercise price revision clauses (“Stock Acquisition Rights”), for which
payments were completed on April 25, 2018. The details are as follows.
Date of allotment

April 25, 2018

Total number of stock acquisitionrights

50,000,000 units
45th Stock Acquisition Rights: 20,000,000 units
46th Stock Acquisition Rights: 15,000,000 units
47th Stock Acquisition Rights: 15,000,000 units

Issue price¥23,100,000 in aggregate
45th Stock Acquisition Rights: ¥0.54 per unit
46th Stock Acquisition Rights: ¥0.44 per unit
47th Stock Acquisition Rights: ¥0.38 per unit

Number of underlying shares withrespect to the stock acquisitionrights issued

50,000,000 shares (one share per stock acquisition right)

Amount of funding¥10,413,100,000 (Note)
Initial exercise price45th Stock Acquisition Rights: ¥207
46th Stock Acquisition Rights: ¥209
47th Stock Acquisition Rights: ¥211

Exercise price and conditions forrevising the exercise price

The exercise price of the Stock Acquisition Rights shall be initiallyrevised on April 27, 2018, with revisions occurring each time that five
price calculation dates (defined below) have passed. Price calculation
dates are days on which trading sessions take place (hereinafter,“Trading Days”) on the Tokyo Stock Exchange, Inc. (hereinafter, the“Tokyo Stock Exchange”) and are days on which market-disrupting
events (defined below) do not occur. In the event the exercise price isrevised on the basis of this paragraph, on the next Trading Day
following the fifth price calculation date counted from the date on which
the exercise price was previously revised (including that date;hereinafter, the “Revision Date”), the exercise price shall be revised toan amount obtained by multiplying the simple average value of thevolume weighted average price of SymBio’s common shares in regular
trading announced by the Tokyo Stock Exchange on each pricecalculation date of the five consecutive price calculation dates prior to
the Revision Date (hereinafter, the “Price Calculation Period”) using theexercise price revision ratios defined below, truncating fractionalamounts less than one yen (hereinafter, the “Standard Exercise Price”).
However, the price is revised to the minimum exercise price (describedin the provisions of Paragraph 10 of the terms and conditions for theissuance of the Stock Acquisition Rights) if the Standard Exercise Pricefalls below the minimum exercise price.
Exercise price revision ratios:
45th Stock Acquisition Rights: 92%
46th Stock Acquisition Rights: 93%
47th Stock Acquisition Rights: 94%
In addition, in the event of a reason for adjustment based on theprovisions of Paragraph 11 of the terms and conditions for the issuanceof the Stock Acquisition Rights during one of the Price Calculation
Periods, the volume weighted average price of SymBio’s commonshares in regular trading announced by the Tokyo Stock Exchange foreach of the price calculation dates of that Price Calculation Period shallbe adjusted, taking that reason into consideration.
Market-disrupting events shall be defined as the occurrence of situations
indicated below in relation to SymBio’s common shares:(1) If SymBio’s common shares are designated by the Tokyo Stock
Exchange as a stock under supervision or a stock to be delisted;-8-

(2) If no regular trading of SymBio’s common shares occurs on theTokyo Stock Exchange during an entire day (if no trades are executedon the Tokyo Stock Exchange); and/or(3) If the nominal price of SymBio’s common shares in regular tradingends below the minimum daily trading limit designated by the Tokyo
Stock Exchange (maximum allowable single-day loss), (regardless ofwhether regular trading of SymBio’s common shares on the Tokyo
Stock Exchange is conducted through proportional allotment (stopdistribution)).
Method for subscription or
allotment (Allottee)

All of the Stock Acquisition Rights shall be allotted to EVO FUND by
third-party allotment.

Period during which the stock
option can be exercised

From April 26, 2018 to April 26, 2021

Use of the funds(1) Development of in-licensed drugs(2) Creation of an independent sales structure(3) Investment in new in-licensing, M&A, and other means(Note) The total amount paid upon the exercise of the Warrants assumes the exercise of all stock acquisition rights

at the initial exercise price. The amount of funds actually raised may vary, depending on the market environment at
the exercise timing of the Warrants.

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