POXEL Achieves Major Sales with TWYMEEG® in Japan

Poxel announced that net sales of TWYMEEG® in Japan have reached 5 billion yen. This triggers a payment of 500 million yen from Sumitomo Pharma in the first quarter of 2025. Poxel is now eligible for a 10% royalty on 2024 net sales.

The proceeds received will be used to repay debt to OrbiMed, and a portion of these proceeds, from a deposit account, will be used to repay debts to IPF Partners. Note that, despite these payments and royalties, Poxel's cash horizon remains unchanged until March 2025.

Poxel expects to continue to receive increasing royalties beyond 2024, in cooperation with Sumitomo Pharma. The TWYMEEG® product is designed to treat type 2 diabetes, with potential expansion of its use to a population with renal failure.