Chugai to merge with Renalys Pharma after acquisition

Chugai Pharmaceutical Co., Ltd. announced a resolution on November 18, 2025, to conduct an absorption-type merger with Renalys Pharma, Inc., effective December 29, 2025. This merger follows Chugai's planned acquisition of Renalys Pharma as a wholly-owned subsidiary on November 27, 2025, by purchasing all its shares and share acquisition rights. Renalys Pharma was established to develop and commercialize sparsentan (U.S. product name: FILSPARI®) for IgA nephropathy in Asia, and the acquisition will grant Chugai exclusive development and commercialization rights in Japan, South Korea, and Taiwan.

The merger, a simplified absorption-type merger, will accelerate sparsentan's development and maximize corporate value by consolidating management resources and streamlining the regulatory process. No shares or other consideration will be allotted, and Renalys Pharma's share acquisition rights will be extinguished. There will be no changes to Chugai's company name, head office, representatives, business operations, share capital, or fiscal year-end as a result of the merger.

Chugai, as the surviving company, reported total equity of ¥1,901,499 million and total assets of ¥2,208,373 million (IFRS, consolidated, as of December 31, 2024). This transaction is expected to have a minimal impact on Chugai's consolidated financial forecast for the fiscal year ending December 2025.