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JIC Venture Growth Investments Co., Ltd. (JIC VGI) hereby announces that JICVGI Opportunity Fund I Investment Limited Partnership (OPF1), which is managed by JIC VGI, has entered into agreements to subscribe for newly issued shares of and underwrite privately placed bonds issued by Cuorips Inc. (Cuorips).

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OPF1 is a fund established in September 2023, with JIC VGI serving as its General Partner. The fund’s strategy focuses on providing capital to direct secondary deals and listed startups. OPF1 is part of Japan Investment Corporation (JIC)’s initiatives under the government’s Startup Development Five-Year Plan. The fund aims to accelerate the growth trajectory of startups, promote the creation of unicorns, and serve as a platform to support the sustainable and exponential growth of promising listed startups. Additionally, OPF1 aims to create successful investment precedents in the direct secondary and aftermarket areas, stimulating private investment flows, revitalizing the domestic secondary and growth markets, and contributing to the overall strengthening and expansion of Japan’s startup ecosystem.

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Cuorips is a regenerative medicine company engaged in the research, development, and manufacturing of iPSC-derived regenerative medicine products. In 2026, the company obtained conditional and time-limited marketing approval in Japan for RiHEART®, an iPSC-derived cardiomyocyte sheet for severe heart failure caused by ischemic cardiomyopathy, followed by its inclusion in Japan's national reimbursement system. This achievement represents a significant milestone in the commercialization of regenerative medicine technologies.

Building upon the launch of RiHEART® in Japan, Cuorips is pursuing a growth strategy that includes global expansion of the product as well as the development of next-generation regenerative medicine platforms, including second-generation cardiomyocyte sheets, catheter-based cell therapies, endogenous regenerative factor inducers, and mesenchymal stem cell (MSC)-based therapeutic products.

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Through this investment, OPF1 aims to support Cuorips' long-term growth strategy and help the company achieve sustained and transformative growth both in Japan and internationally.

Regenerative medicine is widely recognized as one of Japan's strategically important technology sectors and is expected to contribute to addressing critical healthcare challenges and extending healthy life expectancy. By supporting Cuorips, OPF1 also seeks to contribute to the advancement of Japan's regenerative medicine industry, the global competitiveness of iPSC-derived technologies, and the creation of innovation originating from Japan.

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The proceeds raised through the share issuance and bond financing are expected to be used primarily for (i) the development of second-generation cardiomyocyte sheets, (ii) the development of catheter-based therapies, (iii) the development of endogenous regenerative factor inducer programs, and (iv) research and development activities utilizing mesenchymal stem cells (MSCs).

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^{The information contained in this release is current as of the date of publication. This release does not constitute notice of completion of the investment, which is expected to be paid in on September 28, 2026, and is subject to change without prior notice.}