Bio Palette Raises $9.5M in Series A Financing
to Accelerate Development of Microbiome Therapeutics
Kobe City, Japan -September 24, 2020Bio Palette Co., Ltd (Head Office: Nada-ku, Kobe City, Representative Director: Dr. Shoko Murase)is pleased to announce that it has raised 1 billion yen (approx. $9.5M) in series A financing througha third-party allotment of new shares underwritten by JAFCO Co., Ltd. (Head Office: Minato-ku,Tokyo, President & CEO: Mr. Shinichi Fuki).
This financing follows the company’s seed financing of 550 million yen (approx. $5.2M) in total
conducted from 2017 to 2018 with Eight Roads Ventures Japan, F-Prime Capital Partners, and ARCH
Venture Partners as the underwriters. The total amount of funds raised to date is 1.55 billion yen(approx. $14.7M).
The Company's core technology is a base editing technology (genome editing technology) that is afurther development of CRISPR/Cas9, which enables single nucleotide conversion without DNA
double-strand break, resulting in more accurate and precise editing, application to a wider variety ofcells, and more efficient breeding compared to conventional genome editing technologies.
There are only two groups in the world, Kobe University and Harvard University, hold the basic
patents for this technology, and we received an exclusive license from Kobe University. Last year, wealso signed an exclusive cross-licensing agreement with BEAM Therapeutics, Inc. (Nasdaq: BEAM),
which holds an exclusive license from Harvard University to use this technology in the field of humantherapeutics.
We are applying this proprietary base editing technology to the breeding and modification ofmicroorganisms that make up the microbiome, and focus on the development of innovativemicrobiome therapeutics that use gene-edited, optimized bacteria as “living medicine”. To be theworld's leading company in the field of microbiome therapeutics through "Microbiome x GenomeEditing", we have decided to focus on the oral and skin microbiome as our current strategic areas.
For example, many researchers reported that disruptions in the oral microbiome are associated withvarious diseases, and this has been recognized as one of the major issues that need to be addressed,
especially in an aging society. Currently, we are collaborating with universities and other research
institutions with strengths in these fields to conduct proof-of-concept (POC) studies with the aim ofachieving early commercialization of innovative therapeutics. At the same time, we have been
discussing the possibility of conducting joint research with some development partners andcompanies that are potential licensees, and we will continue to prepare for the path to clinical trials.

In the mid-to-long term, gut microbiome is one of the options for our R&D targets in addition to theoral and skin microbiome.
The funds will be used primarily for various R&D activities for the new therapeutic modality ofmicrobiome therapeutics, as well as to increase the number of staff in the R&D department and toexpand our research capabilities. Currently, our research facility called Kobe R&D Center is locatedat Kobe Medical Innovation Center (KCMI) within the Kobe Biomedical Innovation Cluster, known
as an international R&D center for advanced medical technologies centered on the Port Island ofKobe. In October 2020, our Kobe R&D Center will be expanded and relocated to Creative Lab forInnovation in Kobe (CLIK), a newly built building adjacent to KCMI. At CLIK, we will secure approx.
400 square meters of space and advanced facilities for genome editing and microbiome research tofurther accelerate our R&D activities with the aim of realizing the world's first therapeutics.
＜About JAFCO>
Company name:Head Office:Establishment:

JAFCO Co., Ltd. (listed on the first section of the Tokyo Stock Exchange)
Toranomon Hills Mori Tower 24F, 1-23-1 Toranomon, Minato-ku, Tokyo
April 1973

President & CEO:Paid-in Capital:
URL:

Shinichi Fuki
33,251,673,571 yen
http://www.jafco.co.jp/<About Creative Lab for Innovation in Kobe>
Name:
Creative Lab for Innovation in Kobe (CLIK)
Location:
6-3-7 Minatojima-minamimachi, Chuo-ku, Kobe
Site Area:
Approx. 5,066 square meters
Total floor space:
Building structure:
URL:

Approx. 12,268 square meters
Steel construction, 6 floors above ground
http://www.kups.jp/clik/index.html

For more information, please contact us at:
Bio Palette Co., Ltd.
URL: www.biopalette.co.jp
Email: contact@biopalette.co.jp