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: Kimi Kusumi) as unlimited liability partner, announces that it has issued new shares to AlphaNavi Pharma ("AlphaNavi") (Head office: Suita-shi, Osaka; Representative Director: Yoshihiro Oyamada) through a third-party allocation of new shares.

Outline of this investment
AlphaNavi is a bio-venture company founded in January 2019 with the goal of bringing non-opioid analgesics for treatment-resistant pain conditions to society.AlphaNavi has licensed from Sumitomo Pharma Co. AlphaNavi has already completed multiple Phase I studies in the U.S., U.K., and Japan, and is currently conducting a Phase I/II study in Japan for pediatric patients with tetralogy of fallopian tubes pain. ANP-230 has already completed multiple Phase I studies in the U.S., U.K. and Japan.
Pediatric Limb Pain Attacks are characterized by pain attacks in the joints of the extremities and limbs with no abnormal findings other than pain attacks, making it difficult to manage pain with existing pain medications. In addition, many patients suffering from these pain attacks have been found to have a genetic abnormality in the sodium channel Nav1.9 geneSCN11AAlphaNavi intends to advance this clinical trial and business development with this financing.

Kyoto iCAP highly evaluated AlphaNavi's management philosophy of bringing new therapeutic drugs to pain patients who have inadequate response to existing drugs as quickly as possible and the potential of the company's pipeline, and made an additional investment of approximately ¥210 million. B. The third-party allocation of new shares was made by a coalition of investors, including Kyoto iCAP, Shinsei Capital Partners Co.