November 29, 2023
To whom it may concern
Company: Teijin Limited
Representative: Akimoto Uchikawa, President and CEO
Stock code: 3401 (Prime Market, Tokyo Stock Exchange)
Contact: Naoki Hamashima, General Manager,
Investor and Public Relations Department
TEL: +81-3-3506-4395

Notice Concerning a Decision on the Licensing Agreement related to the Three
Hormone Therapy Drugs for Rare Endocrine Diseases
Teijin Limited (hereinafter, “the Company”) hereby announces that it has resolved at its Board ofDirectors meeting held today that the Company and its subsidiary Teijin Pharma Limited (Headoffice: Chiyoda-ku, Tokyo; President: Masaki Taneda; hereinafter “Teijin Pharma”) enter into an
exclusive licensing agreement with Ascendis Pharma, A/S (Head office: Copenhagen, Denmark;President and CEO: Jan Møller Mikkelsen; hereinafter, “Ascendis”) regarding the research,development, manufacturing and sales in Japan for “TransCon hGH, “TransCon PTH,” and“TransCon CNP,” three drugs currently under development as hormone therapy drugs to be used
for the treatment of rare endocrine diseases.
1.

Signing the licensing agreement for the three hormone therapy drugs(1)
Summary of the contract and reason for deciding to sign the contract“TransCon hGH” (a growth hormone (GH) receptor agonist), the target drug in this deal, isbeing sold by Ascendis in the United States and Europe as a therapeutic drug for pediatricgrowth hormone deficiency, a rare disease. In Japan, Phase III clinical trial is underway
targeting the same disease. Furthermore, Ascendis is implementing Phase III clinical trials
overseas and in Japan for adult patients with growth hormone deficiency. In addition, inEurope, Ascendis has obtained manufacturing and sales approval for “TransCon PTH” (PTHreceptor agonist) which is a treatment for patients with hypoparathyroidism, a rare disease.
In the United States, Ascendis has submitted an application for new drug approval, and inJapan it is preparing an application for the authorization for manufacturing and sales. At
Ascendis, “TransCon CNP” (CNP receptor agonist) is undergoing Phase III clinical trials forpatients with achondroplasia.
In accordance with this licensing agreement, the Company will acquire the exclusive rights
to research, development, manufacturing and sales in Japan for the three hormone therapy
drugs. Going forward, the Company plans to submit an application for the authorizationahead of sales to conduct domestic clinical trials, and to manufacture and sell the drugs.
The Company will pay Ascendis a one-off lump-sum contract fee of US$70 million (approx.
¥9.9 billion) and will also pay a maximum of US$175 million (approx. ¥24.7 billion) whenachieving development milestones, milestones depending on sales, and royalty fees forsales.
1Based on its corporate philosophy of “enhancing the quality of life,” the Company aims to“be a company that supports the society of the future” to achieve a sustainable society. FromFY2023, to further embody its aim “to be a company that supports the society of the future,”
the Company established a long-term vision to become “a company that protects the globalenvironment,” and “a company that addresses issues of patients, families and communities
in need of more support.”
In the Healthcare Business, as stated in “The Teijin Group Reforms for ProfitabilityImprovement,” which was disclosed in February 2023, we plan to push forward with activities
to expand our pipeline by introducing pharmaceuticals mainly in the fields of rare andintractable diseases, medical devices, and new services that have the potential to utilize thebusiness foundation that we have fostered thus far to achieves its concrete long-term vision
to be “a company that addresses issues of patients, families and communities in need ofmore support.”
As our goal to build a profit base by implementing the aforementioned initiatives, wedecided to sign this licensing agreement related to the introducing the drugs in Japan.
Moving forward, we plan to pour energies, mainly into development to launch these drugs
in the Japanese market, to ensure that we deliver them to patients as quickly as possible.
[The three hormone therapies drugs: “TransCon hGH,” “TransCon PTH” and “TransConCNP”]“TransCon hGH” is a once-weekly subcutaneous injection of human growth hormone (hGH),
made long-acting owing to the TransCon technology*. In the Phase III clinical trial (heiGHtTrial) conducted overseas for pediatric patients with a short stature due to a growth hormone
deficiency, the annualized height velocity was found to be non-inferior and have highstatistical significance in comparison with a once-daily administered hGH. In 2021,“TransCon hGH” was approved in and is being sold in the United States to treat pediatricpatients with a short stature due to a growth hormone deficiency. “TransCon hGH ” isadministered using a specialized electronic injection device that gives consideration toconvenience.
“TransCon PTH” is being developed as a once-daily subcutaneous injection of parathyroidhormone (PTH), made long-acting owing to the TransCon technology*. In the Phase IIIclinical trial (PaTHway Trial) for adult patients with hypoparathyroidism, in comparison withthe placebo group, for symptoms of low blood calcium concentration due to a decreased
parathyroid hormone secretion, there was a significant improvement in a patient’s specificphysical and cognitive symptoms owing to the achievement of withdrawal from or lower levelof vitamin D formulation and calcium formulation required to maintain a normal concentrationof serum calcium. “TransCon PTH ” is designated as an orphan drug in the United States,
Europe and Japan for the treatment of hypoparathyroidism.
“TransCon CNP” is being developed as a once-weekly, subcutaneous injection of Cnatriuretic peptide (CNP), made long-acting owing to the TransCon technology*. It is
designed for use in pediatric patients with achondroplasia. In the topline results of the Phase
II clinical trial (ACcomplisH Trial) for achondroplasia patients between the ages of 2 and 10 ,in comparison with the placebo group, there was a significant improvement in annualizedheight velocity. “TransCon CNP ” is designated as an orphan drug in both the United Statesand Europe for the treatment of achondroplasia.
2About Ascendis Pharma A/SAscendis Pharma is applying its innovative TransCon technology* platform to build a leading,fully integrated biopharma company focused on making a meaningful difference in patients’
lives. Guided by its core values of patients, science and passion, Ascendis uses its TransContechnologies* to create new and potentially best-in-class therapies. Ascendis is headquarteredin Copenhagen, Denmark and has additional facilities in Germany (Heidelberg and Munich)and the United States (Palo Alto and Redwood City, California, and Princeton, New Jersey).
Please visit ascendispharma.com to learn more.

*This proprietary technology of Ascendis achieves a long-acting hormone by linking a carrier
with no physiological activity and an active hormone through a cross-linking agent andadministering it in an inert form to gradually release an active hormone in the body from thecarrier.
(2)
Schedule
Board of Directors` resolution date: November 29, 2023
Contract signing date: November 29, 2023
(3)
Financial Outlook
We are currently examining the impact of this matter on our consolidated earnings forecast
for the fiscal year ending March 2024, including other positive factors, and will make anannouncement as quickly as possible if any matter requiring disclosure occurs in the future.
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