October 2, 2015
Press Release
Company name: Mitsubishi Tanabe Pharma Corporation
Representative: Masayuki Mitsuka
President and Representative Director
Code number: 4508, First Section, Tokyo Stock Exchange
Contact:Yoshifumi Mifune, General Manager,
Corporate Communications Department(Osaka: TEL: +81-6-6205-5211)(Tokyo: TEL: +81-3-6748-7664)

Mitsubishi Tanabe Pharma and Regeneron Conclude
Collaboration Agreement for Fasinumab, NGF Antibody

Osaka, Japan, October 02, 2015 - Mitsubishi Tanabe Pharma Corporation (President andRepresentative Director, CEO: Masayuki Mitsuka; hereinafter, “the Company”) and Regeneron
Pharmaceuticals, Inc. (hereinafter, “Regeneron”) have concluded a collaboration agreement as ofSeptember 29, 2015 for fasinumab (REGN475). Through this agreement, the Company has acquired
exclusive development and commercialization rights for fasinumab in Japan, Korea and Asian countries,excluding China.
Fasinumab is an antibody that specifically binds to Nerve Growth Factor (NGF) which is believed toplay a role in pain. In a Phase 2 clinical study regarding osteoarthritis in the U.S., Fasinumab
demonstrated to promptly ameliorate moderate-to-severe pain. A Phase 2b/3 study for pain due toosteoarthritis was initiated in mid-2015 in the U.S. As a result of this agreement, the Company andRegeneron plan to move ahead with the development of fasinumab in Japan for indications ofmusculoskeletal pain, specifically osteoarthritis and chronic low back pain.
In accordance with this agreement, Regeneron receives upfront and near-term payments of $55 million.
Moreover, Regeneron is eligible to receive up to $170 million in reimbursement and additional
milestone payments associated with the development of fasinumab in the Company’s territory.
Additional one-time payments up to $100 million in aggregate may also apply based on achievement ofspecified annual net sales.
With regard to the impact on this deal, the Company included it in the revised financial forecast
announced on September 30.
To address patients who have musculoskeletal pain, Mitsubishi Tanabe Pharma Corporation will
aggressively work to develop fasinumab.
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About Mitsubishi Tanabe Pharma Corporation
Mitsubishi Tanabe Pharma Corporation is a research-driven pharmaceutical company
based in Osaka, Japan. MTPC is taking on the challenge of drug discovery in the fields ofautoimmune disorders, central nervous system diseases, diabetes and kidney diseases,and vaccines. To those ends, MTPC is strengthening its R&D pipeline. MTPC contributes
to the healthier lives of people around the world through the creation of pharmaceuticals.
www.mt-pharma.co.jp/e.
About Regeneron Pharmaceuticals, Inc.
Regeneron (NASDAQ: REGN) is a leading science-based biopharmaceutical company
based in Tarrytown, New York that discovers, invents, develops, manufactures andcommercializes medicines for the treatment of serious medical conditions. Regeneroncommercializes medicines for high LDL cholesterol, eye diseases and a rare inflammatory
condition and has product candidates in development in other areas of high unmet medical
need, including oncology, rheumatoid arthritis, asthma and atopic dermatitis. For
additional information about the company, please visit www.regeneron.com or follow@Regeneron on Twitter.

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