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Ambys Medicines and Takeda Announce Partnership to Pioneer First-in-Class Therapies for the Treatment of Serious Liver Diseases

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Ambys Medicines, a biotechnology company focused on the discovery and
development of transformative therapies for people with serious liver
disease, and Takeda Pharmaceutical Company Limited [TSE:4502] ("Takeda")
announced today that they have entered into a partnership to support the
advancement of the Ambys platform and pipeline.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180808005182/en/

"We are thrilled that Takeda has joined us at the outset to develop our
vision to build a transformative approach to liver diseases. Ambys will
undertake an intense and sustained effort to advance fundamental science
and technology, while developing multiple programs aimed at diverse
liver disease targets," said Jeffrey Tong, Ph.D., chief executive
officer of Ambys Medicines and venture partner with Third Rock Ventures.
"We are uniting a broad range of scientific innovators to help lead a
new era of discovery and clinical translation for people with severe
liver diseases, and we are delighted to join forces with Takeda in this
important effort."

Ambys is pioneering the application of novel modalities, including cell
and gene therapy and gain-of-function drug therapy, to meet the urgent
need for treatments that restore liver function and prevent the
progression to liver failure across multiple liver diseases that are
untreatable or poorly treated today.

This is in alignment with Takeda's strategy in gastroenterology to focus
on the considerable unmet need in liver through significant investment
in novel chemistry and cell/gene therapy platforms.

"This partnership underscores the exciting potential we see to deliver
on the promise of regenerative medicine for people with liver disease,"
said Asit Parikh, M.D., Ph.D., Head, Gastroenterology Therapeutic Area
Unit at Takeda.

"Takeda has been an innovator not only in the way it is looking to
develop new medicines, but also in the models in which it works to
partner with biotech companies," said Charles Homcy, M.D., Ambys board
member and partner at Third Rock Ventures.

Under the terms of the partnership agreement, Takeda has committed $100
million, including participation in the Series A financing. In return,
Takeda receives an option to ex-U.S. commercialization rights for the
first four products that reach an investigational new drug (IND)
application created under the partnership. If Takeda elects to exercise
an option for a product, Takeda will share in 50% of the development
costs for any optioned program and will make development and regulatory
milestone payments. Ambys retains full U.S. rights.

About Ambys Medicines

Ambys Medicines is a biotechnology company focused on discovering and
developing transformative therapies for people with advanced liver
disease. Founded by world-renowned experts in liver disease and
regenerative medicine, Ambys is pioneering the application of novel
modalities including cell and gene therapy, and gain-of-function drug
therapy, to meet the urgent need for treatments that have potential to
restore liver function and prevent the progression to liver failure
across multiple liver diseases that are untreatable or poorly treated
today. Ambys was launched in 2018 by Third Rock Ventures and Takeda
Pharmaceuticals, and is headquartered in Redwood City, Calif. For more
information, please visit http://www.ambys.com.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TSE:
4502)
 is a global, research and development-driven pharmaceutical
company committed to bringing better health and a brighter future to
patients by translating science into life-changing medicines. Takeda
focuses its R&D efforts on oncology, gastroenterology and neuroscience
therapeutic areas plus vaccines. Takeda conducts R&D both internally and
with partners to stay at the leading edge of innovation. Innovative
products, especially in oncology and gastroenterology, as well as
Takeda's presence in emerging markets, are currently fueling the growth
of Takeda. Approximately 30,000 Takeda employees are committed to
improving quality of life for patients, working with Takeda's partners
in health care in more than 70 countries. For more information, visit https://www.takeda.com/newsroom/.

Takeda Forward-Looking Statements

This press release contains "forward-looking statements."
Forward-looking statements include all statements other than statements
of historical fact, including plans, strategies and expectations for the
future, statements regarding the company's current beliefs and
expectations, including as they relate to the development strategy and
program. Statements made in the future tense, and words such as
"anticipate," "expect," "project," "continue," "believe," "plan,"
"estimate," "pro forma," "intend," "potential," "target," "forecast,"
"guidance," "outlook," "seek," "assume," "will," "may," "should," and
similar expressions are intended to qualify as forward-looking
statements. Forward-looking statements are based on estimates and
assumptions made by management that are believed to be reasonable,
though they are inherently uncertain and difficult to predict. Investors
and security holders are cautioned not to place undue reliance on these
forward-looking statements.

Forward-looking statements involve risks and uncertainties that could
cause actual results or experience to differ materially from that
expressed or implied by the forward-looking statements. These
forward-looking statements include, but are not limited to, statements
concerning future drug development plans and projected timelines for the
initiation and completion of preclinical and clinical trials; the
potential for the results of ongoing preclinical or clinical trials and
the efficacy of drug candidates; the potential market opportunities and
value of drug candidates; other statements regarding future product
development and regulatory strategies, including with respect to
specific indications; any statements regarding future financial
performance; and any other statements that are not statements of
historical fact.

The forward-looking statements contained in this press release speak
only as of the date of this press release, and neither Ambys, nor Takeda
undertake any obligation to revise or update any forward-looking
statements to reflect new information, future events or circumstances
after the date of the forward-looking statement. If one or more of these
statements is updated or corrected, investors and others should not
conclude that additional updates or corrections will be made.

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