FIMECS Announces 1,175 Million JPY (ca. 10.3 Million USD) Series B Financing
to Advance its Protein Degrader Pipeline and Platform

Kanagawa, Japan, 24, Jan 2022 - FIMECS, Inc. (“FIMECS”) a private biotechnology company
creating a new class of drugs based on targeted protein degradation, today announced the closing of a1,175 million JPY (approximately 10.3 million USD) series B financing. The round was led by Nissay
Capital Co., Ltd. (NCC), with participation from ANRI, Kyoto University Innovation Capital (“KyotoiCAP”) and UTokyo Innovation Platform Co., Ltd. (“UTokyo IPC”). The fund raising will enable
FIMECS to advance protein degrader programs, including IND-enabling studies and CMC works of alead program that targets IRAK-M protein, drug discovery of the following programs that target TRIB1,
ILK and other undruggable targets in the early stage, and further development of FIMECS’s protein
degrader discovery platform, RaPPIDSTM.
“We are very excited to announce that we have raised our series B round from Japanese 1st tier investors
and advance to the next stage. Targeted protein degradation is an emerging new modality to access tothe previously thought undruggable targets. We will accelerate several “undruggable” protein degrader
programs including IRAK-M degrader and further development and improvement of RaPPIDSTM
platform." said Yusuke Tominari, Ph.D., Co-Founder, CEO of FIMECS. “By more strengthening
platform technology and providing it to the pharmaceutical companies, we believe that breakthroughmedicines will be delivered to patients around the world from not only proprietary research programs
but also collaborative research.”“The targeted protein degradation being developed by FIMECS is one of the new modalities attracting
worldwide attention because it can approach targets that have been difficult to target so called“undruggable”” said Tetsuya Adachi, President of NCC. “We are pleased to be able to take on thechallenge of FIMECS and expect that the company will make a significant social contribution bycreating innovative drugs.”“Targeted protein degradation is emerging and exciting new modality. The recent progress in the last
few years has been remarkable in the field, and as a consequence, the new modality is actively
developed not only by biotech but also by major pharmaceutical companies.” said Anri Samata,
General Partner of ANRI. “Also, we believe that FIMECS will develop new type of drugs with theirproprietary RaPPIDS™ platform. We are honor to join the series B round and work further with great
entrepreneurs developing advanced technologies and innovative drugs.”“We decided the additional investment in recognition of their highly evaluated drug discovery
technology and their strong passion to provide a new therapeutic option to patients” said Ko Kusumi,

President and CEO of Kyoto iCAP. “We have high expectation that FIMECS will promote their drug
discovery programs including Kyoto University’s collaboration in this fund raising, resulting inrecognizing as one of the leading companies in drug discovery based on targeted protein degradationin the near future.“"Since its last investment, FIMECS has been developing a lead program and making progress in its
business, including obtaining the NEDO PCA grant. We recognize these achievements were generated
through collaborative research with academia, including the University of Tokyo, based on know-how
licensed from Takeda Pharmaceutical Company Limited.” said Katsuhiko Oizumi, President and CEOof UTokyo IPC. “We have decided to make an additional investment in the hope that FIMECS will goout into the world as an innovative targeted protein degradation drug discovery start-up company. We
expect this fund raising to accelerate the company’s business."
About FIMECS, Inc.
FIMECS, Inc. is developing a new class of drugs based on targeted protein degradation for thecurrently ‘undruggable’ targets in immuno-oncology and oncology areas. The company became ableto discover drug candidates for inducing the degradation of disease-relevant targeted proteins by
integrating proprietary E3 ligase binders and RaPPIDS™ platform. This drug discovery platform will
help providing drugs to the patients all over the world through various internal and collaboration
projects. https://www.fimecs.com/eng/
About IRAK-M program
IRAK-M has an important role in tightly controlling innate immune responsiveness to preserve
homeostasis, mediating immune tolerance, and acts as a negative feedback regulator of TLR/IL-1R
signaling pathway. Targeting IRAK-M, which expression is restricted to myeloid cells, would be
potentially limiting adverse events against non-target tissues. From supporting evidence for the role ofIRAK-M in innate immunosuppressive capacity of tumor-associated macrophages (TAMs) or dendritic
cells (DCs), we have developed compounds targeting IRAK-M as an effective cancer-immunotherapy
strategy.
About RaPPIDS™
RaPPIDS™ (Rapid Protein Proteolysis Inducer Discovery System) is one of the proprietary drug
discovery platforms of FIMECS, Inc. used to generate therapeutic candidates of the targeted protein
degrader. The platform allows synthesizing and evaluating various degraders quickly based on thecompany’s proprietary know-how and diversity-oriented synthesis, and delivery of the drug candidates
with the best combination of target protein binders, linkers, and E3 ligase binders. Moreover,RaPPIDSTM platform enables the discovery of novel E3 ligase binders, which is expected todramatically expand the range of target proteins that can be degraded.

###Contact:
FIMECS, Inc.
26-1, Muraoka-Higashi 2-chome, Fujisawa, Kanagawa 251-0012, Japan
Tel: +81-466-96-0261
Email: info@fimecs.com