ADR Therapeutics Launches Joint Research with Northern Farm on 'Neocella' to Improve Thoroughbred Breeding Disorders

ADR Therapeutics, a subsidiary of ADR120S Inc. (Tokyo Stock Exchange Standard: 3750; President: Masamichi Hashimoto), announced today that it has entered into a joint research agreement with Northern Farm, a leader in thoroughbred production and training in Japan, to conduct application research on 'Neocella,' a next-generation extracellular particle product, in the field of thoroughbred breeding.

Background of the Joint Research: Addressing 'Breeding Disorders' in the Global Horse Racing Industry In the realm of thoroughbred breeding, intrauterine inflammation, fluid accumulation, and chronic inflammation are major factors causing 'decreased conception rates.' Among these, 'Persistent Mating-Induced Endometritis (PMIE)' is recognized globally as a critically severe breeding disorder, creating an urgent need for effective solutions.

In this joint research, we will verify the potential of 'Neocella,' developed by our company, to improve the intrauterine environment for inflammatory conditions including PMIE.

Key Activities of the Joint Research Focusing on field case accumulation and observation during the 2026 breeding season, we will conduct veterinary analysis and research evaluation on the following: - Observational research on improving the intrauterine environment in breeding mares - Examination of potential applications for inflammatory conditions such as PMIE - Evaluation of the utility of cell-derived components in the breeding domain - Accumulation of case data and veterinary analysis - Collection of medical evidence to facilitate overseas licensing of Neocella

Accelerating Development through a 'Two-Track' Approach As announced on May 14, 2026, ADR Therapeutics has entered into a joint research agreement with Tokyo Medical University, a world-renowned authority in exosome research, to conduct basic research on Neocella, including biological function evaluation, mechanism of action analysis, and inflammatory control functions.

This project with Northern Farm is positioned as a key initiative to promptly evaluate the 'potential for real-world application' in the thoroughbred breeding domain, parallel to the 'basic research' being conducted with Tokyo Medical University.

Future Outlook Our group will strongly promote both scientific analysis with Tokyo Medical University and practical research with Northern Farm. Detailed data and analysis results obtained from this joint research will be considered for public disclosure after the end of the 2026 breeding season, following case organization and continuous evaluation.

The impact of this contract on our business results is currently considered to be minor. We will promptly announce any matters that require disclosure in the future.