Innovation Kyoto 2016 Investment Limited Partnership ("KYOTO-iCAP No.1 Fund"), with Kyoto University Innovation Capital Corporation ("Kyoto iCAP") (Head Office: Sakyo-ku, Kyoto; Representative Director: Koji Murota) as unlimited liability partner, has made an investment in Kyoto University Research Institute, Inc. (Head office: Sakyo-ku, Kyoto; Representative Directors: Kunihiro Musashi and Sakae Mutoh), a venture company that utilizes research results from Kyoto University.

Outline of this investment
Kyoto Institute for Drug Discovery is a company that develops novel therapeutic agents for intractable ocular diseases such as central retinal artery occlusion (CRAO), retinitis pigmentosa (RPV), and glaucoma using novel small molecule compounds ("KUS agents") jointly developed by the Graduate School of Life Sciences of Kyoto University (Professor Akira Kakizuka), Graduate School of Medicine, Kyoto University (Professor Nagahisa Yoshimura, former Professor of Ophthalmology) and the Integrated Center for Clinical Research, Kyoto University Hospital (Associate Professor Hanako Ikeda). and retinitis pigmentosa, as well as other rare diseases such as glaucoma and other intractable ocular diseases.

The safety and efficacy of intravitreal administration of KUS agent are being verified in an investigator-initiated clinical trial (Kyoto University Hospital) for central retinal artery occlusion (CRAO). The enrollment of subjects, follow-up observation and data analysis have already been completed, and the results will be announced as soon as possible.

CRAO is a disease that causes rapid vision loss, including blindness, due to blockage of the arteries supplying blood to the retina. Currently, ocular massage and other measures to stimulate the resumption of blood flow are used in the acute phase of the disease, but there is no treatment proven to improve vision. Previous studies have confirmed the retinal protective effect of KUS agents, and it is expected that the administration of KUS agents to patients with central retinal artery occlusion in the early stages of the disease will improve visual acuity and visual field.

Kyoto iCAP expects that the Kyoto Institute for Drug Discovery will commercialize new treatments for intractable diseases, especially in the field of ophthalmology, through continued research and development, including the expansion of indications for KUS agents, and has therefore subscribed to a private placement of 400 million yen in total, together with SBI AI&Blockchain Investment Limited Partnership managed by SBI Investment Co. (headquartered in Minato-ku, Tokyo; President and CEO: Katsuya Kawashima), the company underwrote a third-party allocation of new shares totaling 400 million yen, of which 200 million yen was invested.

Outline of Kyoto Institute for Drug Discovery Research, Inc.

Establishment	May 2015
Business	Development of novel therapeutic agents for intractable ocular diseases using KUS agents
Head Office Location	Sakyo-ku, Kyoto
President & CEO	Kunihiro Musashi, Sakae Mutoh