Phased Revenue Generation from Existing Collaborative Drug Discovery Research Agreements
First written in FY2023. 3 of 5 entries say "Advanced", first in FY2024-H1. Latest entry: FY2026-H1.
The whole theme swung hardest in 2021: 1 of 11 companies on the "Worse" side.
7 other companies' latest entry also says "Advanced".
- FY2026-H1AdvancedAnnual report
「In terms of revenue, we recorded business revenue of ¥36,700 thousand, down 15.5% year on year, from research support payments and other payments received regularly under joint drug-discovery research agreements.」
During the first half of 2026, the company recorded ¥36.7 million in business revenue from existing joint drug-discovery research agreements and other contracts. This included ¥35.0 million in research support payments and ¥1.4 million in contract research revenue, among other items, demonstrating continued phased revenue generation under the agreements. - FY2025RaisedAnnual report
「To date, we have generated total business revenue of ¥920 million under agreements for joint research and joint drug-discovery research, as of the end of December 2025. Going forward, under agreements with the 4 partners currently conducting joint drug-discovery research and other partners, we may generate ¥1.94 billion in the short term, during the drug-discovery research period, in research support payments or research milestones, of which ¥920 million has already been received, and ¥8.05 billion in the medium term, during the development period, in development milestones.」
Received revenue increased from ¥640 million as of FY2023 to ¥920 million, and research-stage revenue potential was revised from ¥1.78 billion to ¥1.94 billion. Development milestone potential of ¥8.05 billion remains unchanged. - FY2025-H1AdvancedAnnual report
「Milestone revenue 10,000 Research support payment revenue 31,620 Contract research revenue 1,800 Revenue from contracts with customers 43,420」
During the interim accounting period, the company recorded ¥10.0 million in milestone revenue, ¥31.62 million in research support payment revenue and ¥1.8 million in contract research revenue. In addition, a compound leading to the acquisition of a lead compound in research with Shionogi & Co., Ltd. was obtained, resulting in achievement of a milestone. - FY2024-H1AdvancedAnnual report
「Breakdown of revenue from contracts with customers (unit: thousand yen) Upfront payment revenue — Milestone revenue 60,000 Royalty revenue — Research support payment revenue 53,598 Contract research revenue 2,400 Revenue from contracts with customers 115,998」
During the interim accounting period, the company actually recorded ¥60.0 million in milestone revenue, ¥53.598 million in research support payment revenue and ¥2.4 million in contract research revenue from existing joint drug-discovery research agreements and other contracts. - FY2023First statedAnnual report
「Going forward, under the agreements with the 4 partners currently conducting joint drug-discovery research, we may generate ¥1.78 billion in the short term, during the drug-discovery research period, in research support payments or research milestones, of which ¥640 million has already been received, and ¥8.05 billion in the medium term, during the development period, in development milestones. If a drug is launched, we also expect to receive royalties in the low single-digit percentage range and milestone revenue based on sales, up to ¥105.0 billion, over the long term during the sales period.」
For existing agreements with 4 companies, the company presents revenue potential by amount and rate for the research, development and sales stages. These are maximum amounts and assume the success of all projects.