Kubota Pharmaceutical Holdings Signs Letter of Intent to Form a Joint Venture with SBI Holdings

Kubota Pharmaceutical Holdings Co., Ltd. (Tokyo 4596, “Kubota Pharma”), a clinical-stage ophthalmology company committed to translating innovation into a diverse portfolio of drugs and devices to preserve and restore vision for millions of people worldwide, and SBI Holdings, Inc. (“SBI”), a financial services and asset management company based in Japan, announced today the signing of a non-binding letter of intent (“LOI”) to establish a joint venture that will organize and manage special purpose entities to finance the development of ophthalmic drugs and devices. The LOI contemplates that the joint venture will be funded 51% by Kubota Pharma and 49% by SBI. Kubota Pharma and SBI have entered negotiations for a definitive joint venture agreement.