January18 , 2024

Bioworks, Developer of PlaX™, an Eco-Friendly Plant-Derived Material, Raises anAdditional 415 Million Yen in Funding, Bringing Total Raised Capital to 2.5 Billion Yen

Bioworks (Headquarters: Soraku-gun, Kyoto; CEO: Yukihiro Imai; hereinafter referred to as Bioworks)
has successfully conducted a third-party allotment of new shares to international venture capital
firms, Lavender Hill Capital (Headquarters: Hong Kong, China; Founding Partner: Xiaoyin Zhang;hereinafter referred to as Lavender Hill), Purpose Venture Capital (Headquarters: Singapore; CoFounders: Sharon Sim, Sertac Yeltekin, and Von Leong), 18 Salisbury Capital (based in Hong Kong andTokyo; Founding Partners: Stephen Yuen, Masanori Takaku, Terufumi Hamazaki), as well as to textile
trading company Yagi & Co (Headquarters: Chuo-ku, Tokyo; Representative Director, President andChief Executive Officer: Takao Yagi; hereinafter referred to as "Yagi"), and other investors.
With this latest funding, Bioworks has successfully raised a cumulative total of 2.5 billion yen. The
raised capital will be utilized by Bioworks to strengthen its R&D and human resources, expand its
product portfolio, enter new markets, and expand its business both domestically and internationally.

Background and Purpose of Fundraising
Bioworks is a new material creation company driven by the mission of "Sowing the seeds of a newprosperity", aiming to foster a harmonious future where both the planet and humanity thrive ingood health. Leveraging extensive expertise and technological advancements derived fromresearch and development of new material, Bioworks is dedicated to planning and producing
sustainable solutions.
With this additional investment from international venture capital firms Lavender Hill and Purpose
Ventures, Bioworks will contribute to the promotion of ESG investment in the Asia-Pacific region
while expanding its distribution channels from Japan to overseas markets.
In addition, through the partnership with Yagi, a company with a long history of success in thetextile industry, Bioworks will further expand the reach of PlaX™, a new carbon-neutral material
developed in-house, to a broader market.

About Lavender Hill CapitalFounded in 2020 by Xiaoyin Zhang, former partner of Goldmans Sachs and Head of China TMT(Technology, Media and Telecommunications) Investment Banking, Lavender Hill Capital is aninternational venture capital firm based in Hong Kong that focuses on investing in growth stage,technology and technology enabled companies globally.
Lavender Hill Capital WEB: https://www.lavenderhillcapital.com/

About Purpose Venture Capital
Purpose Venture Capital, co-founded by Sharon Sim, Sertac Yeltekin, and Von Leong, is a Singaporebased international venture capital firm focused on supporting sustainable technology companies.
Purpose Venture Capital WEB: https://www.purposeventurecapital.com/

About 18 Salisbury Capital
18 Salisbury Capital, co-founded by Stephen Yuen, Masanori Takaku, and Terufumi Hamazaki, is analternative asset management firm with offices and licenses in Hong Kong and Tokyo, investing inlisted and unlisted Japanese companies. All members of the firm have extensive investment
experience at global investment firms with an understanding of the Japanese language andbusiness practices. This unique combination of expertise enables them to serve as a bridge
between Japanese business companies and global capital.
18 Salisbury Capital WEB: https://www.18salisbury.com/

About Yagi
Yagi, a textile trading company founded in 1893, has been nimbly responding to the changes of thetimes and society while maintaining the spirit of “Sincerity at All Times," the company's motto. Yagi
is currently developing a wide range of businesses from materials to lifestyle, apparel, and brandretail.
Yagi & Co
Representative Director, President and Chief Executive Officer: Takao Yagi
Headquarters: 2-2-8 Kyutaromachi, Chuo-ku, Osaka; 18-15 Koamicho, Nihonbashi, Chuo-ku, Tokyo
Establishment: 1918
Business Activities: Textile raw materials such as cotton and synthetic yarns, knitwear and textiles,
men's and women's apparel, sportswear, nightwear and innerwear, bedding and interior goods,
lifestyle-related and industrial textile materials
Yagi & Co WEB: https://www.yaginet.co.jp

About PlaX™
PlaX™ is a new carbon-neutral material with enhanced quality and functionality, made from polylactic
acid (PLA), a bioplastic made from sugarcane and other plant-based materials, with the addition of aplant-derived additive, developed in-house by Bioworks.
This innovative material has captivated global interest as a transformative material that not only
presents a viable alternative to petroleum-derived synthetic fibers like polyester, but also holds
immense potential for pioneering new applications.

Features of PlaX•

CO2 emissions during yarn production are reduced by 41% compared to polyester.

•Biodegradable (it can be decomposed by microorganisms into water and CO2.)•Plax is compatible with "chemical recycling," in which equivalent materials are reproduced fromwaste, and R&D is underway to realize a closed loop that recycles resources.

•CO2 emissions during incineration and disposal are greatly reduced. No hazardous substances,such as dioxin, are generated.

About Bioworks
Bioworks is a startup established in 2015, that aims to realize a sustainable, recycling-oriented society
as a new material creation company that fosters a harmonious future where both the planet andhumanity thrive in good health, through planning and production backed by the research anddevelopment of PlaX™, a new polylactic acid material.
Bioworks Corporation
Representative Director and CEO: Yukihiro Imai
Headquarters: Keihanna Plaza Lab.Wing.7F ,1-7, Hikaridai, Seika-cho, Soraku-gun, Kyoto
Establishment: 2015
Business Activities: Manufacturing and sales of modified polylactic acid compounds (PlaX™) andproducts, businesses to promote resource recycling, etc.
Bioworks WEB: https://www.bioworks.co.jp/
bio Official Online Store: https://bio-plax.com/Inquiries about the Release
Bioworks Corporation
Address: Toho Hibiya Building 7F, 1-2-2 Yurakucho, Chiyoda-ku, Tokyo (Tokyo Office)Contact: Yamaka
TEL: 070-1583-3581
MAIL: press@bioworks.co.jp