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PRESS RELEASE
December 21, 2010

RaQualia Announces Collaboration and License Agreement
With Lilly for Pain Treatments

December 21, 2010 – RaQualia Pharma Inc. (RaQualia), headquartered in Aichi, Japan, a drug discovery and development company with innovative research capabilities, today announced that it has entered into a worldwide collaboration and licensing agreement with Eli Lilly and Company (Lilly), a global pharmaceutical company headquartered in Indianapolis, Indiana, United States. The partnership will initially focus on discovering and developing pre-clinical compounds for a specific ion channel target that could lead to new pain treatments.

“We are very pleased to be joining our efforts with those of Lilly to discover and develop innovative analgesic drugs,” stated Atsushi Nagahisa, Ph.D., President and CEO of RaQualia. “We have made excellent progress in our discovery programs at RaQualia and look forward to working with Lilly’s exceptional development and commercialization capabilities to bring new pain medicines to patients.”

Under the terms of the agreement, the two companies will collaborate to screen, optimize and develop drug candidates. RaQualia will provide pharmacology, medicinal chemistry, and core expertise in drug discovery, in addition to expertise in producing high quality development candidates. Lilly will contribute capabilities in drug development and will conduct preclinical and clinical development studies. Lilly will have exclusive, worldwide rights to commercialize products that result from the collaboration. In addition to an undisclosed upfront payment, RaQualia will be eligible to receive potential research and development, regulatory and commercialization milestone payments totaling up to $172M from the collaboration, as well as royalties on net sales.

Contact
RaQualia Pharma Inc.
Tim Kendall / Satoko Saito
Phone: +81 569 84 0700
Fax: +81 569 74 1381
E-mail: ask@raqualia.com

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