Chordia Therapeutics Inc.

26-1, Muraoka-Higashi 2-chome, Fujisawa, Kanagawa 251-0012, Japan
info@chordiatherapeutics.com

This press release is an English translation of a Japanese-language press release. The
official language of this press release is Japanese, and the Japanese version takes
precedence over the English version in terms of content and interpretation.

<Press Release>
2.16 2023
Chordia receives Development Milestone Payment of CTX-177 (ONO-7018),
a MALT1 Inhibitor according to License Agreement with Ono PharmaceuticalKanagawa, Japan, February 16, 2023 – Chordia Therapeutics Inc. (“Chordia”), abiotech company engaged in the research and development of novel therapies forcancers, today announced that Chordia receives JPY2.5 billion from Ono
Pharmaceutical Co., Ltd. (“ONO”), as one of the development milestones that is paid
upon the achievement of the start of Phase 1 clinical trial under the license
agreement for CTX-177 (ONO-7018), a mucosa-associated lymphoid tissue
lymphoma translocation protein 1 (MALT1) inhibitor, concluded in December 2020
with ONO.
Under this agreement, Chordia has already received from ONO JPY0.8 billion of anupfront payment and receives JPY2.5 billion upon the achievement of thisdevelopment milestone. In addition to these payments, Chordia will also receivefrom ONO up to JPY49.6 billion as milestones according to future development
progress and sales. Chordia will also receive from ONO high-single digits to low
double-digit tiered royalties based on global net sales of CTX-177 (ONO-7018).
Our CEO Hiroshi Miyake said, “We are pleased that the clinical development ofCTX-177 (ONO-7018), a MALT1 inhibitor licensed to ONO, is progressing
smoothly. We hope that the progress in clinical development activities by ONO willbring the new therapeutic drug for cancer patients as soon as possible.”
About CTX-177 (ONO-7018)
CTX-177 (ONO- 7018) is a selective inhibitor against a mucosa-associated lymphoidtissue lymphoma translocation protein 1 (MALT1), which is known to be involved in
an intracellular signaling pathway in lymphocytic blood cells. Activation of MALT1
is reported to play an important role in malignancies of lymphocytes. CTX-177(ONO-7018) is expected to exert anti-tumor effect against these malignancies by
inhibiting of MALT1 activity. CTX-177 (ONO-7018) is an investigational agent thathas not been approved for any indication in any country. Safety and efficacy havenot been established.
About ONO Pharmaceutical Co., Ltd.
Ono Pharmaceutical Co., Ltd., headquartered in Osaka, is an R&D-oriented
pharmaceutical company committed to creating innovative medicines in specificareas. Ono focuses its research on the oncology, immunology, neurology andspecialty research with high medical needs, as priority areas for discovery andChordia Therapeutics Inc.

26-1, Muraoka-Higashi 2-chome, Fujisawa, Kanagawa 251-0012, Japan
info@chordiatherapeutics.com

development of innovative medicines. For further information, please visit thecompany’s website https://www.ono-pharma.com/en.
Important Notice
In this press release, the definition of “press release” covers any oral presentation,question and answer session, and written and/or oral materials discussed or distributedby Chordia Therapeutics in connection with this press release. This press release(including the oral description and related questions and answers) is not intended toconstitute, represent, or form part of any offer, invitation, or solicitation to purchase
and/or acquire anything, including securities.
Disclaimer
Any announcements by Chordia Therapeutics, including this press release, may
contain information on products derived from pharmaceutical developments, but are
intended to inform the latest information related to Chordia’s business, and notintended as promotions, solicitations, advertisements, or to provide medical advice.
Forward-Looking Statements
This press release and materials distributed in connection with this press release may
contain forward-looking statements, information, beliefs, and opinions concerning ourfuture operations, future positioning, and performance, including estimates,projections, goals, and plans. Forward-looking statements may include, but are notlimited to, expressions such as "goals," "plans," "beliefs," "hopes," "continues,""expects," "intends," "assures," "will," "may," "should," "would," "could," "estimates,""projects," and/or other similar expressions, or the negative thereof. These forwardlooking statements are based on assumptions concerning a number of important factors,including the following, which could cause actual results to differ materially fromthose expressed or implied by the forward-looking statements; highly influential
factors that include economic conditions surrounding our global business, which
include general economic conditions in Japan and the United States, competitive
pressures and developments including changes in applicable laws and regulations,which include global healthcare reform, uncertainty as to our clinical success, andchallenges inherent in new product development (which include regulatory decisions
and their timing,) uncertainty as to the commercial success of new and existingproducts manufacturing difficulties, delays fluctuations in interest rates and exchange
rates claims or concerns regarding the safety or efficacy of commercial products orproduct candidates the impact of a health crisis, such as the COVID-19 pandemic, on
Chordia and its customers and suppliers (including foreign governments in countries
in which the Company conducts business) or other aspects of its business. We
undertake no obligation to update any forward-looking statements contained in thispress release or any other forward-looking statements we may make, except as requiredby law or stock exchange rules. Past performance is not indicative of future operatingresults, and any of our operating results or statements in this press release are notestimates, forecasts, warranties, or projections of our future operating results.

Chordia Therapeutics Inc.

26-1, Muraoka-Higashi 2-chome, Fujisawa, Kanagawa 251-0012, Japan
info@chordiatherapeutics.com

About Chordia Therapeutics
Chordia was established in November 2017 at Shonan Health Innovation Park(“Shonan iPark”) in Fujisawa, Kanagawa Prefecture, as a biotech company engaged
in the research and development of novel therapies for cancers, with the goal ofresearching and developing first-in-class anti-cancer drugs and creating innovative
new drugs.
In addition to its leading program for CTX-712, Chordia is engaged in the research of
several developments in our pipeline, including CTX-439, a CDK12 inhibitor, whichis expected to be effective in cancers with specific abnormalities, as well as GCN2inhibitors.
Established:
Address:
Representative:
Website:November 2017
26-1, Muraoka-Higashi 2-chome, Fujisawa,
Kanagawa 251-0012, Japan
Hiroshi Miyake, Representative Director
https://www.chordiatherapeutics.com/en/

For more information, contact, IR Team: info@chordiatherapeutics.com