Tokyo, Japan, June 19, 2024 –Veritas In Silico Inc. (“VIS”) announced today that it has reached a milestone in the collaborative research with Takeda Pharmaceutical Company Limited (“Takeda”), which is being conducted under the drug discovery collaboration and license agreement signed on June 23, 2023.

The collaborative research utilizes VIS’s proprietary drug discovery platform, ibVIS^Ⓡ, to create small molecule drugs that target mRNA for multiple genes related to diseases selected by Takeda. Since the signing of this agreement, both companies have been jointly searching for novel small molecule compounds that act on the mRNA of the target genes and have now achieved the criteria for the milestone set forth in the agreement. Veritas In Silico will receive a milestone payment and the revenue is supposed to be recognized in the second quarter of the fiscal year ending December 31, 2024.

The impact of achieving this milestone on the financial performance of Veritas In Silico has already been factored into a forecast for the fiscal year ending December 31, 2024, announced on February 13, 2024. It is expected to account for approximately less than 10% of the total revenues (676 million yen forecast).

Shingo Nakamura, Representative Director and CEO of VIS, said, “We are very pleased to have achieved this milestone after one year of starting the collaboration with Takeda. We will continue to work hard with Takeda to deliver new drugs that address unmet medical needs of patients as early as possible.”

About Veritas In Silico Inc.
VIS aims to realize a society where every patient can look forward to a brighter future through next-generation small molecule drug discovery targeting mRNAs. As a pathfinder in mRNA-targeted drug discovery, VIS has established a fully integrated drug discovery platform, ibVIS®, including a wide range of in-house software with rule-based AI, and has been conducting drug discovery research in collaboration with pharmaceutical companies since 2018 to create mRNA-targeted small molecule drugs for therapeutic areas such as oncology, neurology, and infectious diseases.
For more information on VIS, visit https://www.veritasinsilico.com/en/.

Veritas In Silico Announces Milestone Achievement in Collaborative Research with Takeda (PDF)