SEKISUI CHEMICAL CO., LTD. (President and Representative Director: Keita Kato, hereinafter “SEKISUI CHEMICAL”) is announcing the sale of its consolidated subsidiary SEKISUI XENOTECH, LLC.（hereinafter “SXT”) to BioIVT, LLC.（hereinafter “BioIVT”) concluded on September 13, 2022（JST）.

１．Background

  In order to expand our drug development solutions business in the non-clinical field, our Company's medical business acquired XenoTech, LLC. in August 2008, changed name to SXT, and began its service business in the pharmacokinetic field in the United States. SXT has pursued synergies by expanding the service offering through knowledge sharing from SEKISUI MEDICAL CO., LTD. (hereinafter “SEKISUI MEDICAL”), a 100% subsidiary of SEKISUI CHEMICAL, and by seeking to develop new customers in Europe and the United States. In order to respond to recent years changing market environment, we have decided that the best way to provide added value to all stakeholders is by strengthening the business through a transfer of ownership to BioIVT.

2．Future

  SEKISUI MEDICAL will continue its drug development solutions business after divesting SXT and in the future expand beyond the area of pharmacokinetics. By providing a broad set of drug development solutions, we will support the research and development in pharmaceutical companies aiming to realize our vision of creating “a healthy and sustainable world”.

3．Impact on earnings

  The impact of this transaction on our fiscal year 2022 earnings is expected to be minimal.

（For reference）

Outline of the divested company (prior to divestment)

Outline of buyer (private company)

About SEKISUI CHEMICAL Group

Headquartered in Japan, SEKISUI CHEMICAL CO., LTD. (TSE: 4204) and its subsidiaries make up the SEKISUI CHEMICAL Group. 26,000 employees in over 190 companies throughout 21 countries aim to contribute to improving the lives of the people of the world and the earth’s environment. Thanks to a history of innovation, dedication and a pioneering spirit, SEKISUI CHEMICAL now holds leading positions in its three diverse business divisions as well as top global market share in interlayer film, foam products, conductive particles and more.
Since its foundation in 1947, the SEKISUI CHEMICAL Group has dedicated itself to social and environmental contribution and is now an internationally recognized leader in sustainability and environmental initiatives, having recently been selected as one of the Global 100 most sustainable companies. SEKISUI CHEMICAL Group will continue to maintain a strong corporate presence for 100 years and beyond.