July 21, 2023
SEIKAGAKU CORPORATION(Securities Code: TSE 4548)

Seikagaku Announces Favorable Results from aPivotal Study for SI-449, an Adhesion Barrier
Seikagaku Corporation (Tokyo, Japan; "Seikagaku") announced today that favorable results
were obtained in a pivotal study in Japan for SI-449, a surgical adhesion barrier, in the field ofgastroenterological surgery.
The study was a randomized study in patients who underwent open proctectomy. SI-449
showed a statistically significant adhesion formation prevention performance in comparison withan untreated group both in the primary effectiveness endpoint of the presence or absence ofpost-operative adhesions and the secondary effectiveness endpoints of severity or extent of theadhesions. No safety issues were observed.
Also, no major problems were found with safety and operability of SI-449 in laparoscopic
surgery in a pilot study in the field of gynecology conducted for the purpose of expanding thescope of indications for the product.
In light of the outcomes of the two studies, Seikagaku plans to proceed with an application
for approval of SI-449 at an early date. Seikagaku will aim to contribute to healthy and fulfilling
lives for patients by reducing the risk of occurrence of complications associated with postoperative adhesions.
There is no change in the forecast of consolidated financial results for the fiscal year ending
March 31, 2024 in connection with this matter.

Reference Information<About SI-449 (Adhesion Barrier)>
SI-449 is a powdered adhesion barrier whose main ingredient is cross-linked chondroitin
sulfate developed using Seikagaku’s own glycosaminoglycan1 cross-linking technology. SI-449
consists of substances naturally present in the body, including the cross-linking agent, and isthought to be highly biocompatible. SI-449, which has the property of absorbing moisture andswelling, is expected to prevent or mitigate post-operative adhesion formation2 by forming abarrier between the surgical wound site and surrounding tissues after application. Since SI-449
is a powdered formulation, it adheres well to uneven tissue surfaces, and is also thought tooffer excellent usability in laparoscopic surgery, a common surgical procedure.
*1 Glycosaminoglycans (GAGs) are a major component of glycoconjugates. Chondroitin sulfate
and hyaluronic acid are GAGs.
*2 Post-operative adhesion formation is a phenomenon by which a surgical wound site andsurrounding tissues that are normally separated adhere together in the healing process ofsites where tissue loss or damage has occurred in surgery (open abdominal surgery,laparoscopic surgery, etc.). The incidence of post-operative adhesions is 50% to 90% whenno treatment is performed, and adhesions are a major cause of postsurgical complications(intestinal blockage, chronic abdominal pain, infertility, etc.) in abdominal or gynecologicalsurgery. Sheet or gel products are currently the main products used as adhesion barriers.
1For details, please refer to the following press release.
Seikagaku Initiates a Pivotal Study for SI-449, an Adhesion Barrier
https://www.seikagaku.co.jp/en/news/news7875686446160281962/main/0/link/20200521-e.pdf< Cautionary Notes >This press release contains forward-looking statements regarding future management strategies orperformance forecasts. These descriptions are based on judgments derived from information that iscurrently available to Seikagaku and are subject to risk and uncertainty. Actual results anddevelopments may differ significantly from these descriptions due to various factors. Information
about pharmaceutical products or medical devices (including products currently in development)
contained in this press release is not intended to constitute an advertisement or medical advice.

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