News Release
VLP Therapeutics Japan, Inc.
The Research Foundation for Microbial Diseases of Osaka University
Denka Company Limited
For immediate release: September 27, 2023
VLPT Japan, Biken Foundation, Denka sign agreement to develop self-amplifying"replicon" RNA influenza vaccine
VLP Therapeutics Japan, Inc. (VLPT Japan), the Research Foundation for Microbial Diseases ofOsaka University (BIKEN Foundation), and Denka Company Limited (Denka) together

announced on September 27 the conclusion of a collaborative research agreement to develop
a seasonal influenza vaccine using self-amplifying "replicon" RNA technology.

The number of influenza patients in Japan in a typical year is estimated at about 10 million,

and the annual number of deaths due to influenza or influenza-induced pneumonia based on

excess mortality rates is estimated to be about 10,000. The HA antigen in influenza viruses isprone to mutation, which is one of the reasons for the near-annual influenza epidemic. One ofthe basic measures to prevent seasonal influenza is vaccination. Current flu shots areproduced mainly by embryonated egg culture, which requires large quantities of high-quality

embryonated chicken eggs and it takes over six months for the vaccine production.

VLPT Japan, BIKEN Foundation, and Denka have agreed to improve replicon technology
proprietary to VLPT Japan and develop a novel influenza vaccine in this joint research.

Replicon technology not only has advantages of conventional mRNA technology, which can beeasily modified and swiftly manufactured, but is also expected to contribute to thedevelopment of vaccines that are safe to use, effective at lower doses, and provide long-lasting
immunity. The three organizations aim to assess the efficacy and safety of the vaccine

prototype in mice and run preliminary stability studies by the end of FY2024.

Through this collaboration VLPT Japan, BIKEN Foundation, and Denka will strive to contributeto society in healthcare and enhance people's quality of life.
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News Release[Collaboration overview]

Objective: Development of a seasonal influenza vaccine using replicon RNA technology.
Scope: Selection of vaccine candidates for clinical development through vaccine design,
prototype production, and prototype evaluation.
Roles:o VLPT Japan: Design the vaccine; Develop vaccine prototypes and provide them forBiken Foundation and Denka; Evaluate the physical properties (including stability)
and titers of vaccine prototypes.

o BIKEN Foundation and DENKA: Evaluate the pharmacological properties and safetyof vaccine prototypes.

###About VLP Therapeutics Japan: VLP Therapeutics Japan, Inc. (VLPT Japan), founded in 2020

by Dr. Wataru Akahata originally as a wholly owned subsidiary of US-based VLP Therapeutics,Inc. (VLPT), is a Tokyo-based biotech company. VLPT Japan is currently engaged in researchand development of prophylactic vaccines against infectious diseases, including COVID-19,influenza, and dengue. The COVID-19 project is funded by the Japan Agency for Medical

Research and Development (AMED) and the Japanese Ministry of Health, Labour and Welfare.

VLPT, co-founded in 2013 by Drs. Wataru Akahata, Ryuji Ueno, and Sachiko Kuno, is aMaryland, US-based biotech company with a mission to address unmet medical needs

worldwide and expand the frontiers of vaccine treatment. VLPT is currently engaged inresearch and development of a cancer treatment vaccine as well as prophylactic vaccines
against infectious diseases including malaria and dengue.

About the Research Foundation for Microbial Diseases of Osaka University (BIKENFoundation): The BIKEN is a Specialty Bio-Pharmaceutical Organization engaged in theResearch, Development and Supply of Vaccines. Since its establishment in 1934, BIKEN hascontributed to public health by developing, manufacturing and supplying a number of firstvaccines made in Japan and providing advanced laboratory test services. Based on its mission"Protect the precious lives of people around the world through excellent vaccines." the BIKEN
will continue to pursue the advancement of advanced science and unique biotechnology
toward a healthy society free from disease anxiety. https://www.biken.or.jp/english
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About Denka Company Limited: Denka is a chemical company that continues to contributeto the advancement of society by developing and providing unique technologies and products
for more than 100 years since its establishment in 1915. In our management plan “Mission2030” covering the 8-year period from 2023 to 2030, we identifies three domains “ICT &Energy”, ”Healthcare”, ”Sustainable Living” as focus areas. Denka continues to contribute topeople's lives and the society through the chemistry we can be proud of to the world for thepurpose of “Make the world a better place as specialists in chemistry.”
https://www.denka.co.jp/eng/
Contact:

VLPT Japan Global Communications and IR at info@vlptherapeutics.co.jp
BIKEN Foundation Public Relations Section at biken-pr@mail.biken.or.jp
Denka Corporate Communications Dept. at corporate-info@denka.co.jp

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