We will pursue sustained profit growth and enhancement of corporate value by steadily implementing key measures set out in the mid-term management plan

Seikagaku has instituted a mid-term management plan covering the four-year period beginning with the fiscal year ending March 31, 2023 (fiscal 2022), positioned as a period for achieving growth. In fiscal 2023, the second year of the plan, we are implementing five key measures set out in the management plan: 
1) Accelerate R&D utilizing unique drug-discovery technologies,
2) Maximize the product value of SI-6603 (treatment for lumbar disc herniation),
3) Maintain and enhance the business value of joint function improving agents,
4) Construct a global production system, and
5) Expand the LAL business through recombinant technologies.
 

The results we have achieved to date through these measures include completion of subject enrollment in an additional Phase III clinical study in the U.S. evaluating Si-6603, a treatment for lumbar disc herniation, and obtaining in May 2023 topline results indicating statistically significant improvement in the primary endpoint of the study. In addition, in a pivotal study in Japan of SI-449, an adhesion barrier, in July 2023 we obtained results showing statistically significant adhesion prevention performance in both the primary endpoint and secondary endpoints. Implementation of the key measures in the management plan, notably the steady advancement of development pipelines, is progressing generally as planned.
 

Seikagaku also regards the pursuit of sustainability as an important priority and has identified six material issues as important issues that should be addressed on a priority basis. By devising and implementing effective measures focused on these material issues, we will strive to develop sustainably together with society. On the basis of a foundation solidified during the period of the previous management plan, we aim to achieve record-high business results in the final year of the plan.
 

We request the continued understanding and support of our shareholders and other stakeholders.

December 2023
 Ken Mizutani
 President & CEO