August 31, 2022
Kidswell Bio Corporation
Code: 4584 (TSE Mothers)
Masaharu Tani, President & CEO

Announcement of completion of SHED Master Cell Bank in compliance with GMPTokyo, August 31, 2022 – Kidswell Bio Corporation (KWB) is delighted to announce that Master Cell
Bank (MCB) of SHED (Stem cells from Human Exfoliated Deciduous teeth) passed final verification
tests and MCB of SHED in compliance with GMP was completed.

Under the business alliance agreement with Nikon Corporation, KWB has been working on theestablishment of a manufacturing MCB of SHED with Nikon CeLL innovation (a wholly owned
subsidiary of Nikon Corporation, providing cell and gene therapy manufacturing service ofregenerative medicine) as an essential component in creating regenerative medicine products. For
delivering the world’s first cell therapy and gene therapy products with SHED to patients, KWB will
promote the development of regenerative medicine products utilizing MCB of SHED not only to create
regenerative medicine products with SHED as a raw material but also SHED-derived exosome andnew treatment methods by combining SHED with gene therapy.

Unlike small molecule drugs manufactured by chemical synthesis, since cell therapy uses cells which
are not always constant and affected by various environments, it is not easy to establish amanufacturing process and maintain the quality of SHED as a raw material.

As KWB has toguarantee a stable supply and the quality of SHED to create regenerative medicines utilizing SHED,KWB launched Chivo Net, Children Volunteer Network for Future Medical, for deciduous teeth
donation and collaborated with the University of Tokyo Hospital and Showa University Dental
Hospital to collect deciduous teeth from donors. As a result, KWB accomplished the manufacturing
process of a high-quality SHED MCB under this series of systems.
As part of an important growth strategy for early corporate value improvement in the Mid-Term
Strategic Plan KWB 2.0 announced on May 12, 2022, KWB has been striving for the research anddevelopment of the cell therapy (regenerative medicine) business focusing on pediatric, rare andintractable diseases. As the MCB of SHED is used as a seed cell during the manufacture of theseregenerative medicine products, it is essential for the practical application, manufacture, and stablesupply of regenerative medicine products.

With the reliable SHED master cell bank, KWB will

accelerate the research and development activities of the cell therapy (regenerative medicine) pipeline
in collaboration with academia and companies.
The financial impact on the business results for the fiscal year ending March 2023 is expected to beminimal.
About Nikon CeLL innovation Co., Ltd.
Nikon CeLL innovation Co., Ltd. (NCLi) operates reliable Cell and Gene therapy facility in Japan,
offers broad selection of contract development and manufacturing (CDMO) services.
About Kidswell Bio Corporation (KWB)
Kidswell Bio Corporation will challenge pediatric disease as a new field, in addition to intractable
and rare diseases on which KWB has also been focusing for R&D. We would like to contribute tochildren who have hopes and dreams for their bright future.

Furthermore, with our biotech

expertise and children’s potential vital force such as SHED, stem cell from exfoliated deciduous teeth,
we envision creating new pharmaceuticals and therapeutics for all people under “Kids Well, All Well.”Contact:
Kidswell Bio Corporation
Tel: +81-3-6222-9547 Mail: info@kidswellbio.com

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