March 28, 2023
Mochida Pharmaceutical Co., Ltd.
Human Life CORD Japan Inc.

The contract for the joint commercialization of HLC-001
in regenerative medicine productsThis material is an English translation of the press release to be issued on March 28, 2023 in Japanese, and the Japaneserelease is given priority regarding content and interpretation.
Mochida Pharmaceutical Co., Ltd. (Head Office: Shinjuku-ku, Tokyo, Japan; President: Naoyuki Mochida, hereinafter"Mochida") and Human Life CORD Japan Inc. (Head Office: Chuo-ku, Tokyo, Japan; President and CEO : Masamitsu
Harata, hereinafter "Human Life CORD") have entered into a joint commercialization agreement (the "Agreement") on
March 27, 2023 to develop and market regenerative medicine product, "HLC-001" (the "Product") for intractable diseases,including non-infectious pulmonary complications (“NIPCs”) after hematopoietic stem cell transplantation in Japan.
The Product is a cell therapy products using mesenchymal stromal cells obtained from the umbilical cord, which is thetissue connecting the placenta and the fetus. The foundation of the Product was built by the research of Dr. TokikoNagamura, Associate Professor of the Cord Blood/Cord Bank/Somatic Stem Cell Research Area at the Institute of Medical
Science, the University of Tokyo (IMSUT CORD). Human Life CORD is currently engaged in several R&D programsfor treatment of intractable diseases using Product including Phase II clinical trial for treatment of NIPCs after
hematopoietic stem cell transplantation.
Under the Agreement, Human Life CORD grants Mochida the exclusive right to develop and commercialize the Productin Japan for diseases agreed by both companies, including NIPCs after hematopoietic stem cell transplantation. Mochidawill pay to Human Life CORD an upfront payment for the conclusion of this agreement, a milestone in accordance withthe progress of development and commercialization, and a royalty in accordance with the sales. In NIPCs after
hematopoietic stem cell transplantation business collaboration of the Product, Human Life CORD is primarily responsible
for the clinical trial, pharmaceutical application, and manufacturing, while Mochida is primarily responsible fordistribution, sales and the collection of post-market safety information.
Junichi Sakaki, Member of the Board and Senior Executive Managing Officer of Mochida, stated the following:“We believe that the Product derived from the umbilical cord could be one of the new treatment options for intractablediseases. Mochida has materialized our existing long-term vision and developed the “Vision for 2031” that the Groupaims to realize in 2031. Toward 2031, one of our focus areas is regenerative medicine products. With the Product, wewill expand our lineup of regenerative medicine products and aim to contribute to unmet medical and health needs.”
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Masamitsu Harata, President and CEO of Human Life CORD, stated the following:"As a business model for a profitable startup company, we have placed a virtual pharma model at the core of ourmanagement strategy since our founding, and have thus far built a framework for our supply chain. This jointcommercialization agreement will be the culmination of our partnering strategy. We expect that the partnership withMochida, which focuses on regenerative medicine products and has a wealth of development experience in the areas ofrare diseases will contribute to maximizing the value of HLC-001 and, in turn, dramatically enhance the corporate valueof both companies."
The two companies will build a close cooperative framework through this agreement, aiming to create novel and effective
treatment options using the Product for patients as soon as possible.

■Non-infectious pulmonary complications after hematopoietic stem-cell transplantation
Non-infectious pulmonary complications (NIPCs) after hematopoietic stem-cell transplantation are disorders caused by factors otherthan infection after transplantation. The most common NIPCs are idiopathic pneumonia syndrome (IPS), bronchiolitis obliterans (BO),and crypto-genic organizing pneumonia (COP). Among them, steroid refractory IPS often develops in the early post-transplant period,
and the lethality rate is high, as there are still no effective therapeutic options at present, and the development of new therapies is highlydesired.
■About Mochida Pharmaceutical Co., Ltd. (https://www.mochida.co.jp/english/)Mochida Pharmaceutical Co., Ltd. has been committed to research and development of innovative pharmaceutical products since its
establishment in 1913 thereby providing distinctive medicines to the medical field. Currently, the core pharmaceutical business focusesresources on the targeted areas of cardiovascular medicine, obstetrics and gynecology, psychiatry and gastroenterology, while also
providing medicine for intractable disease as well as generics including biosimilars, to meet medical needs.

■About Human Life CORD Japan Inc. (https://humanlifecord.com/en/)
Human Life CORD Japan Inc. manufactures and develops cellular products from domestic and stockable umbilical cords which areconnected to the living desire of patients with rare diseases without any established treatment at present, and then leads to future medical
treatment aimed at preventing the serious illness that leads to the extension of their healthy life span. The vision is to create a world
where growing older is more enjoyable. In 2019 "First Tokyo Venture Corporate Championship Conference" Best Award & Tokyo
Metropolitan Governor's Award. Selected as a supplier of the "Deep Ecosystem" operated by the Tokyo Metropolitan Government"Start-up Ecosystem Tokyo Consortium". In 2023, the Ministry of Health, Labor and Welfare was awarded the 5th Japan Open
Innovation Award, sponsored by the Cabinet Office.

< For further information, contact >Mochida: Public Relations, Corporate Planning Department (TEL. +81(0)3-3225-6303)
Human Life CORD: Hayashi, Public Relations (TEL. +81(0)80-4671-0405)

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