May 6, 2004

Takeda Chemical Industries, Ltd.

Takeda Research Investment, Inc. to Invest in Three Biotechnology Ventures

Osaka, Japan, May 6 2004 - Takeda Chemical Industries, Ltd. ("Takeda") announced today that Takeda Research Investment, Inc. ("TRI") in Palo Alto, California, a wholly owned subsidiary of Takeda America Holdings, Inc.*, has invested in three early stage biotechnology ventures, including Lectus Therapeutics Limited ("Lectus") based in Bristol, UK. The amount of each investment and the names of the other two companies, both of which are based on the US West Coast, were not disclosed.
* Takeda America Holdings, Inc. is a wholly owned subsidiary of Takeda Chemical Industries, Ltd.

TRI started operations in 2002 seeking equity investment opportunities in biotechnology ventures that are a good strategic fit to Takeda's research activities. These investments are expected to support and accelerate Takeda's internal discovery pipeline by introducing innovative targets, seed/lead compounds and platform technologies and they are the first investment transactions for TRI since its establishment.

Lectus has developed a unique platform technology, LEPTICSTM, providing a novel approach to ion channel drug discovery. The company is presently focused on the development of small molecule ion channel modulators for the treatment of urinary bladder disorders, angina and hypertension. Lectusf innovative technology is expected to complement and enhance Takedafs own internal research efforts in these areas.

TRI's mission is to evaluate start-up/early-stage biotechnology companies and invest in those with the potential to provide technology and candidate compounds to support Takeda's own research activities and these transactions will give Takeda access to excellent science and technology that help to ensure Takeda's future success in creating innovative drugs.

Takeda is aggressively engaged in in-licensing and alliance activities in order to enhance research and development pipeline as well as in-house research activities.

Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, we are committed to strive toward better health for individuals and progress in medicine by developing superior pharmaceutical products.

Outline of Takeda Research Investment, Inc.

	Date of Establishment	:	November 1, 2001
	Location	:	Palo Alto, California, USA
	President	:	Koichi Kato, Ph.D
	Capital	:	US$ 4 million
	Scope of business	:	Investments to biotechnology companies

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