Market Overview

Promethera Biosciences Announces Investment by ITOCHU Corporation and a Broad Strategic Collaboration to Access the Asian Markets


First anchor investor in upcoming Series D financing round commits EUR10
million and intends to support Promethera broadly in R&D, BD and through
its Medical Network in Asia

Promethera Biosciences SA, a global innovator in cell-based medicines
and liver diseases, today announced a strategic investment of EUR10
million by ITOCHU Corporation, one of the biggest Japan- based business
conglomerate with global presence and networks with annual revenues of
more than JPY 5.5 trillion (approximately EUR 44 billion). ITOCHU
Corporation is the first lead investor in Promethera's Series D round,
which the company expects to close in Q1 2019. Following the
transaction, Mr. Tajio Enoki, Manager, Medical Business Team, Chemicals
Division, Energy & Chemicals Company, ITOCHU Corporation will join
Promethera's Board of Directors as a Director.

In addition to the first tranche of the Series D round secured today,
Promethera has recently raised EUR 14.6 million through the issuance of
convertible bonds to existing and new investors bringing the total
amount raised in by the company to date to more than EUR 90 million.

Major existing institutional and financial shareholders renewed their
commitment by participating in the automatically convertible bonds
issuance including Promethera's founder Prof Dr Etienne Sokal. New
investors joining the bonds instruments (automatically convertible
bonds) included Japan-based Sosei CVC and Beyond Next Ventures,
China-based CMBCC Co-High Medical Investment Fund (Hong Kong), as well
as prominent Belgian private investors such as Mr. Olivier van der Rest,
Mr. Cyril Janssen and Mr. Marc Speeckaert.

Beyond the investment, ITOCHU intends to support Promethera to advance
Promethera's product and business development strategy in Asia. The
scope of the relationship includes R&D support for Promethera's HepaStem
development program in Acute on Chronic Liver Failure (ACLF),
Non-Alcoholic Steatohepatitis (NASH) and Urea Cycle Disorder (UCD) in
selected Asian markets.

"We are very honored to have ITOCHU Corporation a premier Japanese
conglomerate with a strong outreach to the wider Asian hemisphere, come
in as the first lead investor in our next fundraising effort. The Series
D round, which we expect to close early this year, and the commitment by
our existing and new shareholders participating in the recent
automatically convertible bond offering will further strengthen our
financial resources to drive and accelerate the HepaStem program in ACLF
and NASH," commented John Tchelingerian, PhD, President and CEO of
Promethera Biosciences SA (Group).

"With HepaStem at the core of our relationship with ITOCHU, we expect to
make important progress in our plan to develop the world's first
cell-based treatment for severe chronic and acute liver diseases as a
tangible alternative to liver transplantation," added Prof Etienne
Sokal, CMO and founder of Promethera.

"We are delighted and honored to have the opportunity to invest in
Promethera's Series D round in addition to collaborating in business
development. We are focusing on regenerative medicine and cell therapy
in both autologous and allogenic. We are sure Promethera's technology
addresses unmet medical needs in liver disease globally," said Mr. Tajio
Enoki, Manager, Medical Business Team, Chemicals Division, Energy &
Chemicals Company, ITOCHU Corporation.

HepaStem consists of liver-derived Mesenchymal Stem Cells that are
obtained from ethically healthy donated human organs and expanded in the
lab. The product candidate is currently being evaluated in a Phase 2a
clinical trial in the indication ACLF with safety and initial efficacy
results expected to be available early 2019. The initiation of clinical
trials in NASH is expected for 2019.

About Promethera Biosciences

Promethera Biosciences is a global innovator in liver therapeutics whose
mission is to enable patients to overcome acute and chronic liver
diseases. Our lead clinical program, derived from our patented cell
technology platform HepaStem, is designed to benefit from its
immune-modulatory and anti-fibrotic properties. In addition to our
cell-based pipeline we develop antibody technologies, such as the
anti-TNF-R1 antibody Atrosimab, to complement and diversify our
therapeutic options. We are a team of international experts operating
out of facilities in Mont-Saint-Guibert, Belgium, Durham, NC, USA,
Tokyo, Japan and Basel, Switzerland.

Promethera®, HepaStem®, H2stem®, Cytonet®, Heparesc® are all registered
trademarks of the PROMETHERA group.

About ITOCHU Corporation

ITOCHU Corporation has been founded in 1858 when the Company's founder
Chubei Itoh commenced linen trading operations. Since then, ITOCHU has
evolved and grown over 150 years. With approximately 110 bases in 63
countries, ITOCHU, one of the biggest Japan based business conglomerate
with global presence and networks, is engaging in domestic trading,
import/export, and overseas trading of various products such as textile,
machinery, metals, minerals, energy, chemicals, food, general products,
realty, information and communications technology, and finance, as well
as business investment in Japan and overseas. For more information,
please go to



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