October 13, 2020
SymBio Pharmaceuticals Limited
Fuminori Yoshida
Representative Director,President and Chief Executive Officer

Exercise of the 51st Stock Acquisition Rights and Revision to the Specific Uses and Amounts of Funds Raised
through the 50th and 51st Stock Acquisition Rights
TOKYO, Japan, October 13, 2020—SymBio Pharmaceuticals Limited (JASDAQ: 4582) (“SymBio” or the“Company”) today announced its decision to commence the exercise of the 51st Stock Acquisition Rights, based ona third-party allotment agreement on stock acquisition rights agreed with EVO FUND. In addition, the Companyannounced revisions to the projected fundraising amount and the allocation of use of such funds which were disclosedby the Company in the “Notice of the Issuance of the 50th and 51st Stock Acquisition Rights with Exercise Price
Revision Clauses and Conclusion of Third-Party Allotment Agreement (Commit Issue Program)” published onFebruary 27, 2020.
1. Commencement of exercise of the 51st Stock Acquisition Rights
The Company, continuing to expect to achieve profitability in FY 2021, will raise funds for ongoing development ofin-licensed drugs, establishment of its own salesforce, and purchase of inventory. Considering trends in theCompany’s stock price and other external factors, the Company has determined that it is appropriate to commence
the exercise of the 51st Stock Acquisition Rights at this time to raise funds for near to mid-term operations.

(1)
(2)

Name of stock acquisition rights
Number of shares authorized forexercise

SymBio Pharmaceuticals Limited 51st Stock Acquisition Rights
3,000,000 Shares(3)

Number of shares to be issued

3,000,000 Shares(4)

Date of decision

October 13, 2020

(5)

Date of start of exercise

October 14, 2020

2. Revisions to specific use of funds
1. Specific uses of funds (before revision)Specific uses1) Development of in-licensed drugs

Funds to be raisedFunds to be raised

Total amount ofExpected timing

through the 50th

through the 51st

funds to be raisedof expenditure

Stock Acquisition

Stock Acquisition(Millions of yen)

RightsRights(Millions of yen)

(Millions of yen)

2,375

55

2,430

March 2020 toJune 2021

2) Establishment of the Company’s

1,431

54

1

1,485

March 2020 toown salesforce

3) Investment in new in-licensing,June 2021

01,535

1,535

M&A, and other long-term growthOctober 2020 toJune 2021

opportunities
Total

3,806

1,644

5,450

2 Reasons for revision
The Company’s Board of Directors approved the issuance of the 50th and 51st Stock Acquisition Rights on February
27, 2020. The stock market generally, including the price of the Company’s stock, since experienced a significant
decline primarily due to uncertainties in the world economy arising from the COVID-19 pandemic. As a result of thisdecline, 2,280 million yen was raised through the 50th Stock Acquisition Rights, significantly below the anticipatedamount of 3,806 million yen on which the planned use of 2,375 million yen for development of in-licensed drugs and1,431 million yen for establishment of the Company’s own salesforce (as shown in the table above) was based.
Accordingly, the Company will revise the allocation of funds raised through the 50th Stock Acquisition Rights toplace priority on ongoing development of in-licensed drugs and establishment of the Company’s own salesforce,
which will begin operation in December 2020. The Company will not allocate funds to new in-licensing opportunities,
M&A, or other long-term growth opportunities, which can be funded at a later appropriate time.
3. Revised specific uses of funds
Specific uses1) Development of in-licensed drugs

Funds raisedFunds projected to be Total (expected)

Expected timing

through the 50th

raised through theof expenditures

Stock Acquisition

51st Stock

RightsAcquisition Rights(Millions of yen)

(Millions of yen)

1,380

1,059

(Millions of yen)

2,439

March 2020 toJune 2021

2) Establishment of the Company’s

900585

1,485

own salesforce
3) Investment in new in-licensing,

March 2020 toJune 2021000

2,280*1,644

3,924-

M&A, and other long-term growth
opportunities
Total* Funds anticipated to be raised through the 51st Stock Acquisition Rights (1,644 million yen) are calculated at the original stock
price assumption of 547 yen per share2