MediPal : Notice of Investment in Metagen Therapeutics, Inc. through MEDIPAL Innovation Fund

February 25, 2026 MEDIPAL HOLDINGS CORPORATION

MEDIPAL HOLDINGS CORPORATION (Head office: Chuo-ku, Tokyo; Representative Director, President and CEO: Shuichi Watanabe; "MEDIPAL") is pleased to announce its investment ("the Investment") in Metagen Therapeutics, Inc. (Head office: Tsuruoka-shi, Yamagata; President and CEO: Taku Nakahara; "MGTx"), through the MEDIPAL Innovation Fund ("the Fund"). MGTx is a leading biotechnology startup committed to advancing medical treatment and drug discovery through cutting-edge intestinal microbiome research.

Founded in January 2020, MGTx is dedicated to delivering transformative microbiome-based medicine to patients globally through the clinical and commercial implementation of Fecal Microbiota Transplantation ("FMT"). FMT is an innovative treatment modality that aims to reconstruct a healthy microbiome by transplanting intestinal flora from screened donors into patients to reconstruct a balanced intestinal flora and treat underlying disease.

MGTx is actively establishing a comprehensive system for intestinal bacteria donors screening and strengthening its manufacturing supply chain for investigational drugs. These initiatives ensure the safe, stable and scalable provision of FMT.

The clinical development of MGTx's FMT technology has already shown significant promise:

• Ulcerative Colitis: Multi-center clinical research under the Advanced Medical Care B* framework has yielded positive results, confirming safety and suggesting therapeutic efficacy.
• Oncology: Research is underway exploring FMT in combination with immune checkpoint inhibitors for esophageal and gastric cancers.
• Neurology: Clinical research are progressing for the treatment of Parkinson's disease.
• Next-Generation Therapeutics: MGTx is also advancing the development of oral FMT formulations to enhance patient accessibility and support future business expansion.

Through this investment, conducted via a third-party allotment of new shares, MEDIPAL will support MGTx in accelerating FMT therapy development and establishing a robust logistics and sales infrastructure. Both companies will engage in strategic discussions toward a formal business partnership, aiming to bridge the gap between groundbreaking medical research and patients seeking innovative treatment options.

While this represents a significant strategic step, its impact on MEDIPAL's business performance is expected to be minor.

*Advanced Medical Care B: Advanced Medical Care refers to treatments that use advanced medical technology as defined by the Minister of Health, Labour and Welfare, and must be evaluated from the perspective of ensuring the efficient provision of appropriate medical care to determine whether or not they should be covered by health insurance. Of these, Advanced Medical Care B refers to medical technology that involves the use of unapproved drugs or medical devices, or the off-label use of drugs or medical devices.

About Metagen Therapeutics, Inc.

Metagen Therapeutics, Inc., is a biotech startup founded through collaborations with Juntendo University, Keio University, and Tokyo University of Science. The company is dedicated to creating meaningful social impact through medicine and drug discovery rooted in gut microbiota research, guided by its mission: "living up to the hopes of patients through microbiome science."

Leveraging its proprietary Gut Microbiome Bank as a core resource, Metagen Therapeutics operates both a Medical Service Business and a Drug Discovery Business to advance Fecal Microbiota Transplantation (FMT) as a global standard treatment. The company is currently focused on developing therapies for immune diseases (such as inflammatory bowel disease), cancer, and central nervous system disorders.

Head office: 246-2, Mizukami, Kakuganji, Tsuruoka-shi, Yamagata

Tokyo office: Toranomon Hills Business Tower 15F, 1-17-1 Toranomon, Minato-ku, Tokyo Representative: President & CEO Taku Nakahara

Date of establishment: January 17, 2020

Business Description: Drug discovery-medical business using microbiome science URL: https://www.metagentx.com/en

About MEDIPAL Innovation Fund

MEDIPAL is mainly engaged in the wholesale business in the pharmaceutical, health and beauty fields. In the Prescription Pharmaceutical Wholesale Business, one of its core business segments, MEDIPAL contributes to the development of pharmaceuticals, medical equipment, regenerative medicine and other products through unique initiatives that support startup companies from early-stage development to post-launch distribution.

As part of these initiatives, MEDIPAL jointly established the Fund in March 2021 with SBI Investment Co., Ltd. (Head office: Minato-ku, Tokyo; Representative Director, Chairman and President: Yoshitaka Kitao; "SBI Investment"), a consolidated subsidiary of SBI Holdings Inc.

Since its establishment, the Fund has been considering possible investments in various startup companies by leveraging SBI Investment's diverse sourcing capabilities.

CONTACT

MEDIPAL HOLDINGS CORPORATION

Public Relations Department Tel: +81-3-3517-5171

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