February 7, 2018
SymBio Pharmaceuticals Limited
Fuminori Yoshida
Representative Director
President and Chief Executive Officer(Securities Code: 4582, JASDAQ Growth)

SymBio’s Mid-Range Plan: FY 2019 to FY 2022 (Four Years)

I. Mid-Range Plan for the Next Four Years(1) Overview of FY 2018 Business Results as of the Date of the Mid-Range Plan
Progress in the Company’s business for FY 2018 (from January 1, 2018 to December 31, 2018) is asfollows:(i) Domestic[Start of preparations for the establishment of the Company’s own salesforce]
On October 16, 2018, the Company announced the start of preparations to establish its own
salesforce for the sale of TREAKISYM® in Japan. The Company has in place a business
partnership agreement with Eisai Co., Ltd. (“Eisai”) signed in August 2008 and expiring in
December 2020. The Company considered a number of options for developing the business after
December 2020, including business partnerships with other companies. However, the Company
has now concluded that transitioning to its own salesforce will best serve the interest of patientsand maximize business value. Ahead of the transition to such a salesforce in early 2021, theCompany will consider the personnel required for an ideal organizational structure and formulate
a detailed investment plan for system configuration and preparation of a logistics anddistribution infrastructure. In this way, we aim to engage in activities to provide high-quality
information and realize a system for providing products, as well as moving toward our topmost
management objective of achieving profitability in the fiscal year ending December 31, 2021 andachieving sustainable growth thereafter.
[Anticancer agents: SyB L-0501 (lyophilized powder formulation), SyB L-1701 (ready-to-dilute(“RTD”) formulation), SyB L-1702 (rapid infusion (“RI”) formulation), and SyB C-0501 (oralformulation) (generic name: bendamustine hydrochloride, trade name: TREAKISYM®)]
The Company markets TREAKISYM® in Japan through its business partner, Eisai. The
Company obtained manufacturing and marketing approval for first-line treatment of low-grade
NHL and MCL in December 2016, for recurrent/refractory low-grade non-Hodgkin’s lymphoma(Note 1) (low-grade NHL) and mantle cell lymphoma (MCL) in October 2010, and for chronic
lymphocytic leukemia (CLL) in August 2016. Following this indication expansion, TREAKISYM®
is steadily increasing its market share in the area of first-line treatment by replacing R-CHOP,
the conventional standard treatment, at medical clinics and hospitals. Further, the combination
treatment (BR therapy) of TREAKISYM® and rituximab was newly included in the Guidelines for
Tumors of Hematopoietic and Lymphoid Tissues 2018 edited and published by the Japanese1Society of Hematology in July 2018, becoming recommended as a choice for standard treatment.
With this development, TREAKISYM® has been effectively establishing its foothold as thestandard treatment for malignant lymphoma. In-market sales at NHI price basis for the fiscal
year ended December 31, 2018 posted an increase of 11.6% year on year.
In addition to the three already-approved indications, the Company has started a Phase III
clinical trial for TREAKISYM® targeting recurrent/refractory diffuse large B-cell lymphoma (r/r
DLBCL) and is currently working on patient enrollment toward obtaining approval. The trial isin response to serious need at clinics and hospitals as there is currently no reliable standard
treatment. Patient groups have petitioned to the regulatory authorities for the approval of BR
therapy. With a view to providing new therapeutic alternatives and maximizing product value,
the Company began the Phase III clinical trial in August 2017 and is diligently working toaccumulate cases after completing enrollment of the first patient in January 2018.
In addition to these initiatives toward the approval of additional indications, the Company
moved forward to further promote the product life cycle management of TREAKISYM®. In
September 2017, it entered into an exclusive license agreement with Eagle Pharmaceuticals, Inc.
(head office: New Jersey, U.S.) (“Eagle”), under which Eagle licensed to the Company rights underEagle’s intellectual property to develop, market, and sell Eagle’s TREAKISYM® liquid
formulation (RTD and RI liquid formulations) (Note 2) in Japan. This will further enable theCompany to extend the product life until 2031 through patent protection and maximize the valueof TREAKISYM®, while bringing significant benefits to patients and healthcare providers byeasing their burdens. The Company has already consulted with the Pharmaceutical and Medical
Devices Agency regarding approval for the RTD formulation and is currently preparing anapplication. Clinical trials primarily aimed at confirming the safety of the RI formulation beganin November 2018.
Further, the Company acquired approval for the partial revision to the manufacturing andmarketing authorization in July 2018. As a result, TREAKISYM® can now be used in combination
with not only rituximab but also obinutuzumab (Note 3) (launched in August 2018) for thetreatment of CD20 positive follicular lymphoma (FL), a common histologic type of low-gradeNHL, allowing the Company to provide patients with a new treatment therapy. In September
2018, the Company applied for the approval of partial revision to the manufacturing andmarketing authorization of TREAKISYM® regarding its use as a pre-treatment for regenerative
medicine products.
In addition to the intravenous formulation currently under development and on sale, theCompany is exploring the potential of TREAKISYM® through the development of an oral
formulation as the treatment for solid tumors and autoimmune diseases, with an aim to solidify
its business through a platform of TREAKISYM® products. Amid such initiatives, the Company
commenced a Phase I clinical trial for progressive solid tumors in January 2018, with the aims of
examining the recommended dosage and administration schedule as well as tolerability andsafety of the oral formulation of TREAKISYM®, and identifying potential target tumor types.
After completing enrollment of the first patient in May 2018, the Company is currently working
to accumulate cases. Meanwhile, with a view to evaluating the effect of oral administration of
TREAKISYM® on the immune system, the Company concluded a joint research agreement with
Keio University in May 2018 to conduct a pre-clinical trial to verify the therapeutic effect of thisproduct in the treatment of systemic lupus erythematosus (SLE), a form of autoimmune disease
with extremely high medical need. The pre-clinical trial is currently underway.
(Note 1) Non-Hodgkin’s lymphoma (NHL) refers to malignant lymphoma other than Hodgkin’s
lymphoma. Malignant lymphoma is a cancer of the lymphatic system in which

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lymphocytes develop malignant growths. The majority of Japanese malignant lymphoma
patients are suffering from NHL.
(Note 2) RTD and RI are pre-dissolved liquid formulations that differ from currently available
freeze-dried (“FD”) powder injection. RTD (ready-to-dilute) will significantly reduce thepreparation time and labor cost for healthcare providers, and RI (rapid infusion) will
reduce infusion duration to 10 minutes from the current 60 minutes, providing significant
benefit and value to both patients and healthcare providers.
(Note 3) Obinutuzumab (Gazyva®, marketed by Chugai Pharmaceutical Co., Ltd.): Like rituximab
recommended by treatment guidelines for non-Hodgkin’s lymphoma in Japan andoverseas, obinutuzumab is a glycoengineered type II anti-20 monoclonal antibody that
directly binds to CD20 (a protein expressed on B-cells other than stem cells or plasma
cells) on target B-cells to attack and destroy them along with the body’s immune system.
[Anticancer agents: SyB L-1101 (intravenous formulation) and SyB C-1101 (oral formulation),
generic name: rigosertib sodium]
U.S. licensor Onconova Therapeutics, Inc. (head office: Pennsylvania, U.S.) (“Onconova”) is
conducting a global Phase III clinical trial (with trial sites in more than 20 countries) of theintravenous formulation of rigosertib for higher-risk myelodysplastic syndromes (HR-MDS) which
do not respond to the current standard treatment with hypomethylating agents, which relapse
after treatment under the current standard of care, or which are intolerant to hypomethylating
agents. The Company is responsible for clinical development in Japan and in December 2015
began the trial. Forty patients were enrolled as of December 31, 2018, and patient enrollment isproceeding. Based on the results of the interim analysis completed in January 2018, theindependent Data Monitoring Committee (DMC) recommended that Onconova continues the trial
with patient enrollment increased in accordance with statistical criteria in an adaptive designpreviously agreed upon with the U.S. Food and Drug Administration (FDA). Based on the resultsof the trial, the Company is planning to apply for approval in Japan at the same time as in the
U.S. and Europe.
As for the oral formulation of rigosertib, Onconova has completed Phase I/II clinical trials in the
U.S. for the target indication of first-line HR-MDS (in combination with azacitidine (Note 4)) andhas been conducting a Phase II clinical trial for the target indication of transfusion-dependent
lower-risk MDS. The Company started a domestic Phase I clinical trial in June 2017 to confirm
the tolerability and safety of the oral formulation of rigosertib for Japanese patients. The first
patient was enrolled in October 2017 and patient enrollment is proceeding favorably. Aftercompletion of this trial, the Company plans to promptly conduct a Phase I clinical trial for
combination therapy with azacitidine and to take part in a global Phase III clinical trial for
combination therapy with azacitidine for the first-line treatment of patients with higher-risk
MDS, which Onconova currently plans to conduct. The Company also plans and prepares to apply
for approval of the oral formulation of rigosertib in Japan in timing alignment with the U.S. andEurope. With respect to the development for the indication of transfusion-dependent lower-risk
MDS, the Company will continue to consider participating from Japan in view of the status ofdevelopment by Onconova.
(Note 4) About azacitidine (Vidaza®, marketed by Nippon Shinyaku Co., Ltd.): Thishypomethylating agent (for injection) was approved in 2011 upon successful confirmationof extended overall survival for the first time in the Phase III clinical trial for theindication of MDS, and is currently used as a first-line drug for MDS patients who havedifficulties in hematopoietic stem cell transplantation. MDS is a preleukemic state, anddecrease in tumor suppressor gene due to excessive methylation of DNA is thought to berelated to the disease. Hypomethylating agents such as azacitidine are thought to3

suppress progress to leukemia by restoring tumor suppressor gene with a deterrent effectagainst methylation of DNA.
[Patient-controlled pain management drug: SyB P-1501]
In October 2015, the Company entered into an agreement with Incline Therapeutics, Inc., awholly owned subsidiary of US-based The Medicines Company (head office: New Jersey, U.S.) foran exclusive license to develop and commercialize SyB
P-1501 in Japan. The Company, acting in the best interest of patients, determined to temporarilysuspend new patient enrollment for SyB P-1501 from April 21, 2017 due to its concern as to thecontinuity of The Medicines Company’s business regarding the product.
The Company later initiated arbitration against The Medicines Company on October 11, 2017
under the rules of the International Chamber of Commerce, seeking damages of 82 million U.S.
dollars (approximately 9.0 billion yen) arising from The Medicines Company’s repudiation of thelicense agreement. The Company claims that The Medicines Company failed to provide theCompany with adequate assurance of performance of its contractual obligations under the license
agreement in light of its decision to discontinue commercialization activities regarding the
product and withdraw from markets in the U.S. and Europe, and that such failure by The
Medicines Company is a material breach of the license agreement. Furthermore, the Company
terminated the license agreement on November 30, 2017, based on the fact that breach of thelicense agreement by The Medicines Company was not remedied within the stipulated time, andterminated the development of SyB P-1501 on February 9, 2018.
Arbitration proceedings against The Medicines Company are still ongoing.
[New drug candidates]
The Company continues to actively seek new drug candidates and in-licensing opportunities
globally, aiming to expand both profitability and growth potential over the medium- to long-term,and discussions with multiple potential licensors are ongoing.
In May 2016, the Company established a wholly-owned subsidiary, SymBio Pharma USA, Inc.
(head office: Menlo Park, California, U.S., “SymBio Pharma USA”), as the Company’s planned
strategic base for overseas business development. Acquiring rights to new drug candidates
through SymBio Pharma USA as the base of global business will be part of the Company’s
continued transformation into a global specialty pharmaceutical company with capability todevelop and commercialize new drugs in the U.S., Japan, Europe, and other major global
markets.
(ii) Markets outside Japan
SyB L-0501 is also marketed in South Korea, Taiwan, and Singapore, and product sales of SyB
L-0501 in these countries progressed favorably at a level exceeding the Company’s forecasts.
(iii) Business results
As a result of the above, net sales totaled 3,835,530 thousand yen for the fiscal year ended
December 31, 2018, primarily reflecting product sales of TREAKISYM®. Product sales showed ayear-on-year increase of 10.6%. Accordingly, overall net sales rose 11.4% year on year.
Selling, general and administrative expenses totaled 3,828,941 thousand yen (a year-on-year
decrease of 23.1%), including research and development (“R&D”) expenses of 1,832,746 thousandyen (a year-on-year decrease of 39.3%) primarily due to such factors as expenses related to
intravenous and oral formulations of TREAKISYM®, and expenses associated with clinical trials
on the intravenous and oral formulations of rigosertib, and other selling, general andadministrative expenses of 1,996,195 thousand yen (a year-on-year increase of 1.8%).

4

As a result, an operating loss of 2,656,072 thousand yen was recognized for the fiscal year ended
December 31, 2018 (an operating loss of 3,947,061 thousand yen for the previous fiscal year). In
addition, the Company recorded non-operating expenses totaling 94,854 thousand yen, primarily
comprising foreign exchange losses of 54,103 thousand yen, share issuance cost of 29,650 thousand
yen, and commission fee of 11,100 thousand yen, and non-operating income totaling 2,196 thousand
yen primarily due to dividend income of insurance of 1,501 thousand yen and interest income of 525
thousand yen. This resulted in an ordinary loss of 2,748,730 thousand yen (an ordinary loss of
3,976,784 thousand yen for the previous fiscal year) and a loss of 2,752,533 thousand yen (a loss of
3,977,862 thousand yen for the previous fiscal year).

(2) SymBio’s Mid-Range Plan – Summary and Background
SymBio is the first Japanese specialty pharmaceutical company specializing in the rare-disease field,
including the areas of oncology and hematology. Although strong demand exists in these therapeuticareas, development remains challenging due to the need for a high degree of specialization.
Underserved therapeutic areas in oncology and hematology remain untapped as large pharmaceuticalcompanies avoid development due to concerns about operational efficiency and profitability.
The Company sees business opportunities in these underserved therapeutic areas despite therelatively small market potential, introducing new drug candidates to fulfill high unmet medical
needs instead of pursuing new “blockbuster” drugs (drugs with annual sales surpassing 100 billionyen). Capturing revenue opportunities through the in-licensing of new drug candidates and thedevelopment and sale of drugs in these therapeutic areas is at the core of the Company’s business.
One significant aspect of the Company’s business model is to in-license drug candidates with clinicallyconfirmed efficacy and safety mainly in human subjects from pharmaceutical and bio venturecompanies in the U.S. and Europe after rigorous evaluation. This enables the Company to avoid
having its own in-house research and manufacturing function and the associated large capital
investments as it aims to conduct effective business operations with low fixed costs. Also, by inlicensing and developing later-stage drug candidates that have been tested for efficacy and safety(mainly in human subjects), the development period is shortened, thus lowering the overall
development cost and risk.
The Company is building a strong pipeline portfolio and aiming to achieve profitability through thecontinuation of these efforts.
SymBio’s Mid-Range Plan (fiscal years ending December 31, 2019 to 2022) sets out to achieve
profitability in the fiscal year ending December 31, 2021 and sustainable growth thereafter as the
top-priority management goal, based on the achievement at an early stage of TREAKISYM®’s annual
sales of 10.0 billion yen (NHI price basis) in market. Under this plan, which covers a four-year period,
the Company has formulated plans to establish its own salesforce and develop the pipeline. An outlineof the plan is as follows:5To achieve profitability in the fiscal year ending December 31, 2021 and realize sustainablegrowth thereafter, move forward with preparations to launch the Company’s own salesforce atthe beginning of 2021, following the expiration of the business partnership agreement with
Eisai in December 2020.
To prepare for the start of the Company’s own sales and the later launch of rigosertib
intravenous formulation, increase the number of medical representatives as necessary,build a sales and marketing organization specializing in the area of hematologic cancer,
and set up a sophisticated and dedicated training system by the first half of 2020, in
preparation for solidly taking over from Eisai.
From 2019 to 2020, make the investment necessary for system configuration andpreparation of a logistics and distribution infrastructure, create systems to supply
products through a robust distribution structure, and facilitate activities to provide
appropriate and high-quality information.
Maximize the business value of TREAKISYM® and ensure sustainable profitability andgrowth potential, by:Increasing sales from already approved indications: increase market share to 70% by theend of 2020 by further promoting penetration of first-line treatment of low-grade nonHodgkin’s lymphoma, and make the best effort to minimize the downsides compared to
the Mid-Range Plan released on February 7, 2018 (previous mid-range plan) whichassumed 75% of market share at 2020 end.
Expanding indications: complete the Phase III clinical trial for the indication ofrecurrent/refractory diffuse large B-cell lymphoma, with the aim of filing a new drug
application in the second quarter of 2020 and launching in the market in the third
quarter of 2021. Plan and execute the mitigation measures for the downsides from one
quarter delay of the expected launch timing compared to the previous mid-range plan.
Product lifecycle management: launch the RTD formulation in the first quarter of 2021
and the RI formulation in the first half of 2022. Proceed 90% of the way toward a switchfrom the current lyophilized powder formulation to a liquid formulation by the end of2021 and 100% by the end of 2022. Accelerate necessary actions to maximize value of the
product achieving the 2021 annual average switch rate of 60%, raised from 25%
anticipated in the previous mid-range plan.
Development of an oral formulation of TREAKISYM®: advance the development of an oral
formulation for progressive solid tumors and systemic lupus erythematosus (SLE) andengage in commercialization of an oral formulation to provide a new treatment option in
the future.
Proceed with clinical trials to obtain approval for intravenous and oral formulations ofrigosertib as new drug candidates following TREAKISYM®, aiming to obtain approval for the
intravenous formulation in the fourth quarter of 2022, thereby enhancing the Company’s
growth potential and expanding revenue opportunities.
To secure long-term growth opportunities, proactively search for and evaluate new drugcandidates for development and continue to explore in-licensing opportunities, giving due
consideration to the impact on achieving profitability in the fiscal year ending December 31,
2021.

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(3) Business Status, Outlook and Other Assumptions○ Anticancer agents: SyB L-0501 (lyophilized powder formulation), SyB L-1701 (RTD formulation),
SyB L-1702 (RI formulation), and SyB C-0501 (oral formulation) (generic name: bendamustinehydrochloride; trade name: TREAKISYM®)
Since the start of sales of TREAKISYM® via Eisai in December 2010, sales have been firm forthe indications of recurrent/refractory low-grade non-Hodgkin’s lymphoma and mantle cell
lymphoma. Sales have grown substantially since the addition of first-line treatment of lowgrade non-Hodgkin’s lymphoma and mantle cell lymphoma as an indication in December 2016
and the addition of chronic lymphocytic leukemia in August 2016. The drug has gained aparticular foothold as a first-line treatment of low-grade non-Hodgkin’s lymphoma. Further,
the combination treatment (BR therapy) of TREAKISYM® and rituximab was newly includedin the Guidelines for Tumors of Hematopoietic and Lymphoid Tissues 2018 edited andpublished by the Japanese Society of Hematology in July 2018, becoming recommended as a
choice for standard treatment, effectively establishing its foothold as the standard treatment.
Before transitioning to the Company’s own salesforce in 2021, by further enhancing thecollaborative structure based on the current business partnership agreement with Eisai we
aim to achieve annual in-market sales (NHI price basis) of 10.0 billion yen at an early date.
We have revised the expected market share for the first-line treatment of low-grade nonHodgkin’s lymphoma to 70% by the end of 2020, from 75% in the previous mid-range plan,
based on the current trend of slower-than-expected market penetration. However, we willcontinue every effort to penetrate the market further to achieve a target of 75% at an earlypossible date. To realize a smooth transition to the Company’s own salesforce, by the end of2020 we aim to complete a steady transition of sales and distribution activities from Eisai.
Regarding the additional indication of recurrent/refractory diffuse large B-cell lymphoma (r/r
DLBCL), we aim to complete the Phase III clinical trial that is currently underway and will
move forward with preparations to apply for approval in the second quarter of 2020 andlaunch in the market in the third quarter of 2021. Compared with the previous mid-range
plan, we have lowered sales forecast resulting from one quarter delay in launch assumption.
To minimize the sales downsides, we have been making every effort to update and execute thedevelopment and marketing strategy.
For TREAKISYM® liquid formulations, we are aiming to substantially extend the product life
cycle through patent protection, thereby maximizing profit. In this regard, we aim to launch
the RTD formulation in the first quarter of 2021 and begin selling the RI formulation in thefirst half of 2022. The Company aims to achieve a complete transition from the current
lyophilized powder formulation to liquid formulations at an early stage. We aim to achieve a
90% transition by the end of 2021 and a 100% transition by the end of 2022. We also aim toachieve a 60% transition as an annual average in 2021, which was raised from 25%
anticipated in the previous mid-range plan. We will continue and accelerate actions for the
product value maximization.
○ Anticancer agents: SyB L-1101 (intravenous formulation) and SyB C-1101 (oral formulation)(generic name: rigosertib sodium)For rigosertib intravenous formulation, we will continue to collaborate with Onconova, moving

7

forward with the global Phase III clinical trial (INSPIRE trial), with the aim of obtaining
manufacturing and marketing approval for recurrent/refractory higher-risk myelodysplastic
syndromes (MDS) as an indication in the fourth quarter of 2022.
For rigosertib oral formulation, the Company is moving forward with the Phase I clinical trial
as a monotherapy in higher-risk MDS. After confirming the tolerability and safety of the oral
formulation, the Company will promptly conduct a trial for combination therapy withazacitidine in Japan as a Phase I clinical trial and participate in a global Phase III clinical
trial (in combination with azacitidine) in first-line higher-risk MDS patients currently being
planned by Onconova.
Additionally, regarding the indication of transfusion-dependent lower-risk MDS the Company
will continue to consider development in view of the status of development by Onconova.
○ Patient-controlled pain management drug: SyB P-1501
On October 5, 2015, the Company entered into an in-licensing agreement with The Medicines
Company (head office: New Jersey, U.S.) for SyB P-1501. The Company claimed that The
Medicines Company failed to provide the Company with adequate assurance of performance ofits contractual obligations under the license agreement in light of its decision to discontinuecommercialization activities regarding the product and withdraw from markets in the U.S.
and Europe, and that such failure by The Medicines Company was a material breach of thelicense agreement. On this basis, the Company initiated arbitration against The Medicines
Company on October 11, 2017, seeking damages of 82 million U.S. dollars (approximately 9.0
billion yen) arising from The Medicine Company’s repudiation of the license agreement, andthe Company terminated the license agreement on November 30, 2017. The development of
SyB P-1501 was terminated on February 9, 2018.
Arbitration proceedings against The Medicines Company are still ongoing, and the Company
will continue to work steadily to fulfill requirements for the arbitration. However, we haveadopted a conservative approach in the formulation of this Mid-Range Plan. Accordingly, no
results of future arbitration are reflected in earnings forecasts.
○ Establishment of the Company’s own salesforce
Although TREAKISYM® is currently marketed in Japan through Eisai, the Company ispreparing to transition to its own salesforce in an effort to make a larger contribution tosociety as a specialty pharmaceutical company. Under this Mid-Range Plan, the Company’s
topmost management objective is achieving profitability in the fiscal year ending December
31, 2021. We assume the Company will shift to its own sales of TREAKISYM® in 2021,
following the expiration of the Company’s business partnership agreement with Eisai in
December 2020. Providing specialized technical information will enable the Company to moreaccurately understand the needs of the market and respond more swiftly, allowing it tocontribute to the benefit of patients while aiming to maximize the business value of
TREAKISYM®. Furthermore, the Company strives to build a consistent sales and marketingorganization with a high level of specialization in the field of hematological diseases. Throughthis effort, the Company aims to achieve high business efficiency, ensure sustainable earnings
growth, and maximize shareholder gains once the intravenous and oral formulations of8

rigosertib, which are currently under development, join TREAKISYM® in the product lineup.
○ New drug candidates and global business expansion
The Company is continually evaluating new drug candidates for development. The Company
will search for drug candidates that will increase corporate value and negotiate the inlicensing of those candidates at an appropriate timing, giving adequate consideration to theimpact on earnings for the fiscal year ending December 31, 2021. When searching for,evaluating, and negotiating new drug candidates for in-licensing and development, theCompany may do so with a view to commercializing on a global basis.

9II. Earnings Forecast and Performance Targets
Unit: millions of yen

FY2019FY2020

FY2021

FY2022

Forecast

TargetTargetTargetNet Sales

4,465

3,282

9,132

11,282～

11,809Operating Profit-3,587-5,180

1,225

2,084

～

2,464

Ordinary Profit-3,612-5,224

1,181

2,040

～

2,420

Net Profit-3,616-5,228

1,005

1,736

～

2,060

[Trends of Net Sales and Net Income]Unit: millions of yen* The median values of the maximum and minimum values are used for 2021.

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[Status of R&D pipeline][Anticancer agents: SyB L-0501 (lyophilized powder formulation), SyB L-1701 (ready-to-dilute(“RTD”) formulation), SyB L-1702 (rapid infusion (“RI”) formulation), and SyB C-0501 (oralformulation) (generic name: bendamustine hydrochloride, trade name: TREAKISYM®)][Anticancer agents: SyB L-1101 (intravenous formulation) and SyB C-1101 (oral formulation),
generic name: rigosertib sodium]11

Assumptions and Numerical Bases for Projections and Performance Targets○ Net sales are mainly composed of product sales for TREAKISYM®. The sales performance targets
are derived after detailed analysis and discussions on current sales trend and progress of market
penetration, with the revised sales growth rate from 2019 to 2022.
Currently, the Company’s sales amounts are accounted for based on product supply to Eisai. On
the other hands, from 2021, the sales amounts are accounted for based on shipment to wholesalers
in the supply chain under the Company’s own salesforce structure.
Ahead of the transition of product shipment destination from Eisai to wholesalers inaccordance with the switch to the Company’s own salesforce in 2021, the Company plans to reduce
product inventories at Eisai towards the end of 2020. For this reason, although SymBio anticipatesfirm growth in market sales of TREAKISYM®, the Company’s sales in 2020 will decline affected by
the expected discontinuation of shipment to Eisai around the end of first half of 2020 for thetimely reduction of Eisai inventories.
The Company expects sales of TREAKISYM® to expand further in 2021 and beyond due tothe additional indication of recurrent/refractory diffuse large B-cell lymphoma (r/r DLBCL), forwhich approval is expected in the second quarter of 2021. Net sales for 2022 are calculated andtarget figures are presented at a range based on the change in the market penetration rate for thisindication.
○ Selling, general and administrative expenses mainly consist of research and development
expenses or other selling, general and administrative expenses.
Research and development expenses are estimated based on the Company’s latest
development plan for its existing pipeline, comprising TREAKISYM® and rigosertib
intravenous formulation and oral formulation.
With regard to new drug candidates for development outside the existing pipeline, any upfront
for in-licensing are not accounted for although the Company continues to evaluate andconsider candidates for potential in-licensing.
Other selling, general and administrative expenses mainly consist of expenses incurred from
TREAKISYM® sales and marketing, production and distribution, business development, andadministrative operations. Expenses related to the establishment and operation of theCompany’s own salesforce are accounted for from 2019, towards the expected transition tosales of TREAKISYM® by the Company itself from 2021. The main cost increases are expected
to stem from personnel and associated expenses resulting from the addition of medical
representatives.
○ In terms of personnel planning, the Company assumes it will need to add to 60 medical
representatives to prepare for its own sales from 2021 and the ensuing market launch of rigosertib
intravenous formulation. Other than this, the Company plans to deploy minimum number of
employees to each function as necessary and incorporates personnel expenses based on theplanned headcount.
○ The Company’s financial plan involves ensuring the necessary funding to conduct business until

12becoming profitable in 2021. To this end, on April 9, 2018, the Board of Directors resolved to issue
the 45th through 47th warrants. As a foundation, the Company believes these warrants will
satisfy its demand for funds to develop the pipeline and build the Company’s own salesforce, as
well as to meet the demand for funds to invest, such as in new in-licensing and M&A. Goingforward, the Company will make every effort to further strengthen the financial base byconsidering diversified funding methods and promoting disciplined budget control. As a result, we
will respond with flexibility and agility to funding needs in accordance with future businessdevelopment.

This disclosure document is for the purpose of providing information on the Company’s future business strategies
to investors, and is not for the purpose of soliciting investment.
Evaluation of the Company’s business strategies and investment decisions shall be made by investors themselves
based on their own judgment.
The Company does not guarantee, in any sense, the possibility of realizing and achieving any performance target
or other matter of our business strategies and does not assume any liability for any such information.
All forward-looking statements (including, but not limited to, the performance targets in our business plan)contained in this document have been prepared by the Company at its discretion based on the information
available as of the date of this document. Therefore, in the event there are future changes to conditions thatcomprise the assumptions of its business strategy, such as economic conditions, there may be an impact on its
actual business condition and performance such that the results will be different from statements in thisdisclosure document.

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