CBP501 Enters Phase 2 Trials for the Treatment of Malignant Pleural Mesothelioma

Numazu and Osaka, Japan - December 10, 2008 --- CanBas Co., Ltd. (Numazu, Shizuoka, “CanBas”) and Takeda Pharmaceutical Company Limited (Osaka, “Takeda”) together with its wholly-owned subsidiary Millennium: The Takeda Oncology Company (Cambridge, “Millennium”) today announced the advancement of CBP501 into Phase 2 trials for the treatment of patients with malignant pleural mesothelioma. CBP 501 induces cancer cell death through a mechanism of action that blocks the ability of cancer cells to transition through the cell cycle. Data from the Phase 1 study indicates that when combined with selected chemotherapeutic drugs, CBP501 appears to enhance the anti-cancer cytotoxic activity of these established treatments.

CanBas and Takeda signed a collaboration agreement in March 2007 for the development of investigational compounds to treat patients with cancer, including CBP501 and its backup compounds discovered by CanBas. Under the terms of this agreement, the worldwide exclusive rights for development, manufacturing and marketing have been granted to Takeda. Millennium: the Takeda Oncology Company will work with CanBas to advance global development expeditiously.

"For CanBas, which was founded based on a vision of creating superior new treatments for cancer, CBP501’s advancement to Phase 2 is an outstanding milestone achieved through our collaborative work with Takeda," said Takumi Kawabe, M.D., Ph.D., President and CEO of CanBas. "We now are focused on continuing the development efforts to achieve our goal of marketing authorization."

“We are very pleased with CBP501’s progress,” said Yasuchika Hasegawa, President of Takeda Pharmaceutical Company. “Through our close partnership with CanBas, we will do our utmost to speed the development of CBP501 and provide medical professionals with the potential benefits for their cancer patients.”

About CanBas

CanBas was spun off of the research of three scientists from the Nagoya City Medical School and Fujita Health Medical School. These scientists founded CanBas as a drug development biotech with the help of angels and venture capitalists in 2000. Additional information is available through its corporate website, www.canbas.co.jp.

About Takeda

Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals, enhancing its R&D pipeline through in-house research and development, lifecycle management of existing products, and also alliance and in-licensing. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to striving toward better health for individuals and progress in medicine by developing superior pharmaceutical products.

About Millennium

Millennium: The Takeda Oncology Company, a leading biopharmaceutical company based in Cambridge, Mass., markets VELCADE® (bortezomib) for Injection, a novel cancer product, and has a robust clinical development pipeline of product candidates. Millennium was acquired by Takeda Pharmaceutical Company Ltd in May, 2008. The Company’s research, development and commercialization activities are focused in oncology. Additional information about Millennium is available through its website, www.millennium.com.