ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) announced today that it has accepted a third-party allocation of shares from A-SEEDS Co., Ltd. (headquartered in Matsumoto City, Nagano Prefecture; CEO: Shigeki Yagyu; hereinafter "A-SEEDS”) in a round of Series A funding for the purpose of investment.

CAR-T cell therapy, a type of cancer immunotherapy in which T cells (immune cell) are taken from the patient and are modified by adding a gene for a receptor (called a chimeric antigen receptor or CAR). These modified T cells are proliferated then infused back into the patient to fight the cancer. Demand for the therapy is expected to increase across the world as it has shown great potential as a cancer treatment, particularly for certain types of blood cancers. While showing promise, it has issues, including limited efficacy against solid tumors, high manufacturing cost and the complexity of medical treatment, which could hinder its widespread adoption.

A-SEEDS, a Shinshu University-led venture company, has developed a unique technology called Non-viral Gene-modified CAR-T cell Therapy*¹ and a production method, which differs from traditional CAR-T cell therapy, the indication for which was limited to certain types of blood cancers. The new technology inhibits the exhaustion of T cells, which directly attack and eliminate virus-infected cells and cancer cells, offers long-term efficacy and lowers manufacturing cost. Its mission is to provide cancer patients whose treatment options are limited, including patients with solid tumors, with a new type of treatment. Shinshu University and National Cancer Center Hospital East are currently conducting physician-led phase I clinical study*² on two types of therapies respectively. The funding will be used for manufacturing and clinical study to be conducted in Australia with a view to global expansion.

ITOCHU views the pharmaceutical and healthcare fields as key areas. This is why ITOCHU's support goes beyond a capital alliance. It is designed to encourage the development and growth of A-SEEDS by supplying materials, and facilitate collaboration, through its network, with the pharmaceutical and chemicals industries that are fundamental to the success of this treatment.

ITOCHU will continue to apply the expertise it has developed in the pharmaceutical-related business to encourage business development in advanced medical treatment, including cell therapy, with the aim of responding to medical needs for diseases for which there are still no effective treatments (unmet medical needs) and realizing a society where people can stay healthy.