October 20, 2011
SymBio Pharmaceuticals Limited
Fuminori Yoshida
Representative Director
President and Chief Executive Officer

Financial Disclosure for SymBio’s New Listing on Osaka Securities Exchange
JASDAQ Growth Market
Date of New Listing: The Company’s common shares were listed on the Osaka Securities
Exchange JASDAQ Growth Market on October 20, 2011.
Disclosure of the Company’s financial forecast and financial results, originally reported on
September 14th, 2011, are as follows.

【Financial Forecast】(Unit：million JPY,%)
Fiscal Year 2011
(Forecast)

Net Sales
Operating Income
Ordinary Income
Net Income
Net
Incomeper
Share
Dividend per Share
Note:

1,933
(2,351)(2,398)(2,407)%100.0(121.6)(124.1)(124.5)

vs. PY133.3-------

Fiscal Year 2010
(Actual)
1,449
(612)
(638)
(642)

%
100.0
(42.3)(44.0)(44.3)

vs. PY
121.7-------

Second Quarter,
Fiscal Year 2011
(Actual)
%
982
100.0
(701)
(71.4)(700)(71.2)(707)(72.0)(164.39 JPY)

(5,933.47JPY) [59.33JPY](53.56 JPY)

0.00 JPY

0.00 JPY

0.00 JPY

1. The Company does not have any subsidiaries to disclose consolidated financial statements.

2. Net income per share for the results of Fiscal Year 2010, and the Second Quarter, Fiscal

Year 2011, was calculated using the average number of outstanding shares. However, net
income per share for the financial forecast of Fiscal Year 2011, was calculated using theestimated average number of outstanding shares including the increase in number ofshares for IPO (i.e. 5,100,000 shares) due to third party allotment and over-allotment(765,000 shares at maximum), and execution of stock options.

3. The company carried out a stock split (100 shares per share) on June 2, 2011. Figures in [ ]represent net income per share in case of this stock split being considered retroactively.

[Contact]
Hiroki Maekawa
Board Director, Corporate Officer, Chief Financial Officer
Tel: +081(0)3 5472 1125

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

October 20, 2011
Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011
Company Name: SymBio Pharmaceuticals Limited(URL http://www.symbiopharma.com/)
Security Code: 4582
TEL: +81-3-5472-1125
President/ Representative Director and Chief Executive Officer: Fuminori Yoshida
Inquiries/ Board Director and Chief Financial Officer: Hiroki Maekawa(Millions of Yen - rounded down unless otherwise stated)

1. Financial Results for the Second Quarter of Fiscal Year 2011 (January 1 to June 30)(1) Financial Results (Cumulative)
Net Salesnd

2 Quarter FY 2011nd
2 Quarter FY 2010

%
―
―

982
―

nd

%
―
―

(701)
―

Quarterly Net Income
per Share(Yen)
2 Quarter FY 2011nd
2 Quarter FY 2010

Ordinary
IncomeOperating Income

Quarterly
Net Income
%
―
―

(700)
―

(707)
―

%
―
―

Diluted Quarterly Net
Income per Share(Yen)――(53.56)―Note:
1. Despite the issuance of new share subscription rights, information in connection with diluted quarterly net income per sharewill not be disclosed due to quarterly net loss per share.
2. As quarterly disclosure of financial results began 1st quarter FY 2011, prior financial information is not included in the above chart.

(2)Financial Positionnd

2 Quarter FY 2011
FY 2010Equity Ratio (%)

Shareholders’Equity per
Share(Yen)

Total Assets

Net Assets

6,105

5,375

88.1

383.13

4,262

4,083

95.8

36,541.74

Note:
1. Shareholders' equity 2Q FY 2011: 5,375 mil Yen, FY 2010: 4,083 mil Yen
2. The Company carried out a stock split (100:1) on June 2nd, 2011

2. Dividends(Date of Record)
FY 2010
FY 2011
FY 2011(Forecast)

1st Quarter――

Dividend Per Share (Yen)
2nd Quarter
3rd Quarter
Fiscal Year End
0.00
―
0.00
0.00

Full Year
0.00

―

0.00

Note:
1. Revision of forecast for dividends in this quarter: No

-1-

0.00

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

3. Forecast of Financial Results for Fiscal Year 2011 (January 1 to December 31)
Net Sales

Operating
Income%Full Year

1,933

33.4

Ordinary
Income%―(2,351)Net Income%(2,398)―Net Income
per Share(Yen)%(2,407)―(164.39)

Note:
1. Revision of this quarterly forecast: No
2. Figures calculated above include the increase in shares from initial public offering in FY 2011; Increase in shares due to overallotment is
not included

4. Other Information
Note: For further details, please refer to “2. Other Information” in attachments.
(1) Simplified accounting treatment: Not applied(2) Change in accounting rules, procedures and representation method in relation to the preparation ofquarterly financial statements:
1. Changes in accounting principles: Yes
2. Changes other than (1): No(3) Number of issued shares (common shares):
1. Number of issued shares at the end of period (including treasury shares)
Second quarter of FY 2011: 14,030,900 shares, FY 2010: 111,737 shares
2. Number of treasury shares at the end of period
Second quarter of FY 2011: - shares, FY 2010: - shares
3. Average number of shares during this period (quarterly cumulative period)
Second quarter of FY 2011: 13,205,700 shares, Second quarter in FY 2010: - shares
Note: The Company carried out a stock split (100:1) on June 2nd, 2011

Information regarding proper use of financial forecasts, and other important matters
The aforementioned forecasts are estimates made by the Company based on information available at the time,and are subject to risks and uncertainties. Actual results may differ substantially from such forecasts due tovarious factors. Please refer to “Forecast of Business Results for Fiscal Year 2011” in Attachments.

-2-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

[Attachments]
1. Financial Results Analysis, Financial Statements(1) Financial Results Analysis
Financial status of the Company until the end of Second Quarter of FY 2011 is as follows:
1. Japan
In Japan, the oncology drug SyB L-0501 (generic name: bendamustine hydrochloride) received an NHI price on
December 10, 2010, and was launched under the product name TREAKISYM® by the Company’s business partner,
Eisai Co., Ltd (Eisai). Approved indications of the drug are the treatment of patients with indolent B-cell non-Hodgkin's
lymphoma (NHL) and mantle cell lymphoma (MCL). Since its launch in Japan, TREAKISYM® continues to show
healthy growth in sales.
The Company is capitalizing on this “pipeline within a molecule” as it pursues additional indications with larger
patient numbers. In Japan and Korea, the joint phase II clinical trial of SyB L-0501 for relapsed aggressive NHL is
ongoing. In Japan, the phase II clinical trial of SyB L-0501 for the treatment of patients with untreated multiple
myeloma is also underway.
In order to improve the life-cycle management of TREAKISYM®, development of indications beyond thosecurrently under development is being considered.
The phase II clinical trial of the Company’s second drug candidate, SyB D-0701 (transdermal antiemetic patch
containing granisetron) for the treatment of radiotherapy-induced nausea and vomiting was initiated.
With regards to the third oncology drug candidate, SyB 0702 (polyethylene glycol-conjugated zinc protoporphyrin)
and Hsp32 inhibitor, pre-clinical studies to support the initiation of a Phase I clinical trial are underway.
The development of SyB 0702 was accepted by NEDO (New Energy and Industrial Technology Development
Organization) as an anticancer development project eligible to receive government support. NEDO publicly seeks
projects for technological development by R&D venture businesses that meet its criteria as an innovation
advancement project, and provided funding for a portion of the Company’s development costs until February, 2011.
SyB L-1001 (generic name: forigerimod) for the treatment of systemic lupus erythematosus (SLE) have been
initiated, however at present development has been suspended. 2. Overseas
SyB L-0501 is being marketed by Eisai in Singapore and South Korea. In Singapore, the drug has been approved
as first line treatment of patients with chronic lymphocytic leukemia (CLL) and indolent B-cell non-Hodgkin’s
lymphoma (NHL), with sales continuing to increase steadily and remaining on track. In South Korea, the drug has
recently been launched after receiving marketing approval from the Korea Food and Drug Administration (KFDA) for
the treatment of patients with first line chronic lymphocytic leukemia and multiple myeloma. Under the License
Agreement, the Company receives milestone payments from Eisai upon receipt of marketing approval.
In Taiwan, the Company’s business partner, InnoPharmax Inc., is undertaking drug development of SyB-0501. At
the end of the Second Quarter of FY 2011, InnoPharmax initiated post-NDA filing discussions with the Taiwan Foodand Drug Administration in order to secure marketing approval.
3. Financial Results
As a result of these activities, total sales revenue was 982,651 thousand yen. Combined sales of SyB L-0501 in
Japan and Singapore, together with the milestone payment resulting from the granting of marketing approval in South
Korea, account for the revenue.
Sales and general administrative costs totaled 1,037,184 thousand yen. The R&D expenditure posted was 660,383
thousand yen, mainly comprising: the costs of clinical trials and preparations for all indications of SyB L-0501, clinical
trial costs of SyB D-0701, and pre-clinical study costs of SyB 0702. Other sales and general administrative costs
amounted to 376,800 thousand yen.
Thus, for the Second Quarter, the operating loss was 701,333 thousand yen. The NEDO grant and othernon-operating revenues totaled 53,553 thousand yen. However, non-operating expenses due to losses incurred as a

-3-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

result of currency fluctuations and other factors totaled 52,329 thousand yen, leading to an ordinary loss of 700,109
thousand yen. Net loss after tax was recorded as 707,340 thousand yen.
(2) Financial Position Analysis
1.Financial Position
Total assets as of March 31, 2011, stood at 6,105,153 thousand yen, an increase of 1,842,369 thousand yen
compared to the previous financial year end (March 31, 2010). Current assets stood at 6,053,147 thousand yen, an
increase of 1,840,347 thousand yen compared to the previous financial year end. This is the result of new shares
being issued through third-party allocation, thereby increasing cash and cash deposits. A portion of the capital raised
was switched to low-risk securities. Fixed assets increased by 2,022 thousand yen, up to 52,005 thousand yen,
Total liabilities stood at 729,455 thousand yen, with an increase of 549,736 thousand yen compared to the previous
financial year end. Current liabilities totaled 727,420 thousand yen, an increase of 549,536 over the previous financial
year end, mainly due to an increase in accounts payable arising from an increase in sales of TREAKISYM® as well asa short-term loan taken out for the payment thereof. Fixed liabilities at the end of this Second Quarter were posted as
2,035 thousand yen, solely in retirement benefit reserves.
Net assets increased to 5,375,697 thousand yen, up by 1,292,633 thousand yen compared to the previous financial
year end. Despite net loss after tax totaling 707,340 thousand yen due to loss carried forward (negative profit
surplus), new shares were issued through third party allocation which resulted in an increase of 1,000,020 thousand
yen in capital stock and capital reserves, increasing capital to 4,710,850 thousand yen and capital reserves to
4,680,850 thousand yen. Capital-to-asset ratio decreased to 88.1% by 7.7% compared to the previous financial yearend.
2. Cash Flow
Cash and cash equivalents (cash) at the end of the Second Quarter of FY 2011 increased to 5,317,891 thousand
yen, a rise of 1,402,126 thousand yen over the previous financial year end.
The following is a breakdown of the cash flow position and factors prevailing in the Second Quarter of FY 2011.
<Cash Flow from Operating Activities>
The cash flow from operating activities was recorded as a negative balance of 824,355 thousand yen. Despite
purchasing liabilities increasing by 245,165 thousand yen and debt service increasing by 64,196 thousand yen, apre-tax net loss for the quarter of 705,440 thousand was posted, and inventory and accounts receivable increased
by 236,176 thousand yen and 174,481 thousand yen respectively in line with increased sales of TREAKISYM®.
Cash also decreased due to an increase in prepaid expenses of 11,502 thousand yen.
<Cash Flow from Investment Activities>
Cash flow from investment activities ended with a negative balance of 13,099 thousand yen. This was mainly
due to the acquisition of software at a cost of 10,940 thousand yen.
<Cash Flow from Financing Activities>
Cash flow from financing activities was recorded as a positive balance of 2,243,039 thousand yen. This was
mainly due to 2,000,040 thousand yen raised through new stock issuance through third party allocation, and250,000 thousand yen short-term loan borrowed for the payment of purchasing liabilities of TREAKISYM®.
(3) Forecast of Financial Results for Fiscal Year 2011
Progress in pipeline development will lead to greater R&D expenditures, resulting in a rise of sales and generaladministrative costs to 3,021 million yen, a significant increase on a year-on-year basis. The development plan foreach pipeline product are outlined below.
<SyB L-0501>
The phase II clinical trial of SyB L-0501 for the treatment of patients with relapsed aggressive NHL will continue, as
will the Phase II clinical trial in patients with untreated multiple myeloma. Preparations will be undertaken for thedevelopment of the drug for untreated indolent NHL. To extend the life-cycle management of SyB L-0501,
development of additional indications will be further considered.

-4-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

<SyB 1101>
On July 7, 2011, the Company signed a License Agreement with Onconova Therapeutics, Inc., a private
biopharmaceutical company located in Newtown, PA and Princeton NJ, USA, acquiring exclusive development andmarketing rights in Japan and South Korea for the oncology drug SyB 1101 (generic name: rigosertib). In accordancewith this Agreement, the Company is preparing for initiation of the Phase I clinical trial for the treatment of patients withrelapsed aggressive myelodysplastic syndrome (MDS).
<SyB D-0701>
The phase II clinical trial for radiotherapy-induced nausea and vomiting will continue.
<SyB 0702>
Based on the results of pre-clinical studies conducted with some funding from NEDO, the next stage of development
activities will be considered further.
In terms of profits, TREAKISYM®, launched in Japan on December 10, 2010, is expected to begin generating
significant revenue. In its partnership with Eisai Co., Ltd., which is responsible for selling this product in Japan, theCompany will continue to drive sales upward.
In Asia, sales revenues from SyB L-0501 in Singapore and South Korea are expected under the sales and marketing
activities of Eisai (Singapore) Pte. Ltd. and Eisai Korea Inc., respectively. In Taiwan, marketing approval is underapplication, and the Company’s business partner, InnoPharmax Inc., expects to begin booking sales before the end of
2011.
Given this outlook, the forecast for the fiscal year ending on March 31, 2012 is as follows: sales of 1,922 million yen,operating loss of 2,458 million yen, ordinary loss of 2,509 million yen, and current net loss of 2,518 million yen.

2. Other Information(1) No simplified accounting or special accounting methods were used for the compilation of quarterly financial statements(2) Changes have taken place in principles, procedures and presentation methods used in accounting for the compilationof quarterly financial statements
Application of accounting standards relating to asset retirement obligations:Starting from the First Quarter of FY 2011, Accounting Standards Relating to Asset Retirement Obligations(Corporate Accounting Standards No. 18: March 31, 2008) and the Application Guideline for Accounting Standards
Relating to Asset Retirement Obligations (Corporate Accounting Standards Application Guideline No. 21: March 31,2008) have been applied.
This has resulted in an increase of 908 thousand yen in operating loss and ordinary loss for the First Half of FY 2011
(Q1 + Q2), and an increase of 6,239 thousand yen in pre-tax net loss and current net loss for the Second Quarter.
Furthermore, the application of this accounting standard has resulted in a decrease of 5,331 thousand yen in “deposits
and guarantees” for investment and other assets.

(3) No significant event has occurred regarding the going concern of the Company.

-5-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

3. Quarterly Financial Statements(1) Quarterly Balance Sheet(Unit: Thousands of Yen)
As of June 30, 2011

As of December 31, 2010

AssetsCurrent Assets
Cash & Deposits

2,816,341

2,314,484

Accounts Receivable

180,415

5,934

Valuable Securities

2,602,049

1,701,323

Inventories

236,176―

Prepaid Expenses

102,250

101,905

Advances

81,40486,081Other Current Assets

34,5083,070

Total Current Assets

6,053,147

4,212,800

Building (Net)

2,550

2,631

Fixtures & Equipment (Net)17,493

19,295

Total Tangible Fixed Assets

20,04421,927

Software

10,821

772

Total Intangible Fixed Assets

10,821

772

Security Deposits

21,14027,282

Total Investments & Other
Assets21,14027,28252,00549,982

6,105,153

4,262,783

Fixed Assets
Tangible Fixed Assets

Intangible Fixed Assets

Investments & Other Assets

Total Fixed Assets
Total Assets-6-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

(Unit: Thousands of Yen)
As of June 30, 2011

As of December 31, 2010

Liabilities
Current Liabilities
Accounts Payable

246,333

1,168

Accounts Payable -other188,519

124,323

Short Term Loan

250,000―

Income Tax Payable

11,761

10,702Other Current Liabilities

30,806

41,690Total Current Liabilities

727,420

177,884

Accrued Retirement Benefits

2,035

1,835

Total Long-Term Liabilities

2,035

1,835

729,455

179,719

Capital Stock

4,710,850

3,710,830

Capital Surplus

4,680,850

3,680,830

Earned Surplus(4,015,918)(3,308,577)

Total Shareholders’ Equity

5,375,781

4,083,082

(84)

(18)

(84)

(18)

5,375,697

4,083,064

6,105,153

4,262,783

Long-Term Liabilities

Total Liabilities
Net Assets
Shareholders’ Equity

Appraisal
andVariance, etc.
Other
Valuable
Appraisal Variance

Conversion
Securities

Total Appraisal and Conversion
Variance, etc.
Total Net Assets
Total Liabilities and Net Assets-7-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011(2) Quarterly Income Statement(Unit: Thousands of Yen)
Second Quarter Fiscal Year
2011
January 1, 2011 toJune 30, 2011
Net Sales

982,651

Cost of Sales

646,800

Gross Profit

335,850

Selling, General and Administrative
Expenses

1,037,184

Operating Loss

701,333

Total Non-Operating Income

53,553

Total Non-Operating Expense

52,329Ordinary Loss

700,109

Total Extraordinary Expense

5,331

Net Loss before Tax

705,440

Income Tax Total

1,900

Net Loss

707,340-8-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011(3) Quarterly Cash Flow Statements(Unit: Thousands of Yen)
Second Quarter Fiscal Year
2011
January 1, 2011 toJune 30, 2011
Cash Flow from Operating Activities
Net Loss before Tax(705,440)

Depreciation Expense

3,941

Other Depreciation Expenses

1,194

Loss on adjustment for changes ofaccounting standard for asset retirement
obligations

5,331

Increase in Accrued Retirement Benefits

200Interest Income(1,641)

Interest Expense

586

Foreign Exchange Loss

3,374

New Share Issuing Expense

7,000

Commission paid

11,157

Increase in Accounts Receivable(174,481)

Increase in Inventories(236,176)

Increase in Prepaid Expense(11,502)

Decrease in Advances

4,676

Increase in Other Current Assets(31,437)

Increase in Account Payable

245,165

Increase in Account Payable –other64,196

Decrease in Other Current Liabilities(9,824)

Others226

Subtotal(823,454)

Interest and Dividends Received

1,585Interest Expenses Paid

(586)

Income Tax Paid

(1,900)Net Cash Used by Operating Activities(824,355)-9-

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011

(Unit: Thousands of Yen)
Second Quarter Fiscal Year
2011
January 1, 2011 toJune 30, 2011
Cash Flow from Investing Activities
Payment for Purchase of Securities(100,610)

Securities Redemption Revenue

100,000

Payment for purchase of tangible fixed
assets(1,167)

Payment for purchase of intangible fixed
assets(10,940)

Payment for other investments(432)

Proceeds from investments and otherassets50

Net Cash Used by Investing Activities(13,099)

Cash Flow from Financing Activities
Increase in Short-Term Loans

250,000

Proceeds from Issuance of New Stock

2,000,040

Payment for Issuance of New Stock(7,000)Net Cash Provided by Financing Activities

2,243,039

Effect of Foreign Exchange Rate Changes on
Cash and Cash Equivalents(3,458)Net Increase (Decrease) in Cash and Cash
Equivalents

1,402,126

Cash and Cash Equivalents at the Beginningof the Period

3,915,765

Cash and Cash Equivalents at the End of the
Period5,317,891- 10 -

SymBio Pharmaceuticals Limited – Financial Results for the Second Quarter of Fiscal Year Ended December 31, 2011(4) Business Continuity
Not applied.
(5) Segment Information
Segment information was not included as our business is a single business unit, namely drug
research & development, manufacturing & sales, and other related activities.
(Additional Information)
Since this quarter, the Accounting Standards Relating to Segment Information Disclosure(Corporate Financial Reporting Standards No.17: March 27, 2009) and the Guideline for the
Application of Accounting Standards Relating to Application of Accounting Standards for Segment
Information Disclosure (Corporate Financial Reporting Standards Application Guideline No. 20:
March 21, 2008) have been applied.
(6) Explanatory note concerning significant fluctuations in Shareholders’ Equity
The resolution was passed at Board of Directors meeting held on February 14, 2011, with respect
to third party allotment of 1,988,000 thousand yen (70,000 yen per stock), and the Company
completed the process by February 25, 2011.
The resolution was passed at the Board of Directors meeting held on March 30, 2011, with respect
to third party allotment of 12,040 thousand yen (70,000 yen per stock), and the Company
completed the process by April 26, 2011. As a result, Capital Stock amounted to 4,710,850
thousand yen, and Capital Reserve amounted to 4,680,850 thousand yen.
(7) Important Subsequent Event
The Company signed a License Agreement with Onconova Therapeutics, Inc., a private
biopharmaceutical company located in Newtown, PA and Princeton NJ, USA, acquiring exclusive
development and marketing rights in Japan and South Korea for the oncology drug SyB 1101 (genericname: rigosertib) on July 7, 2011.

- 11 -