The shares are listed on the Tokyo Stock Exchange

Davis Polk advised the international joint lead managers and joint bookrunners in connection with the initial public offering of 3,623,000 shares of common stock and Tokyo Stock Exchange listing of Noile-Immune Biotech Inc. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The Japanese underwriters have an over-allotment option with respect to 543,400 shares. Assuming full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥3.083 billion (approximately $21.4 million).

Noile-Immune Biotech is a Japanese clinical stage biotechnology company established as a spinoff from Yamaguchi University and the National Cancer Center with the aim of establishing cancer immunotherapy for solid tumors using PRIME technology, the latest generation of CAR-T technology.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Chihiro Sasaki, Paul Lee and Akiko Okamoto. Partner David R. Bauer and associates Jordan Khorshad and Emma Willems provided intellectual property advice. Counsel Alon Gurfinkel and associates Kelli A. Rivers and Ya Sheng Lin provided tax advice. Members of the Davis Polk team are based in the Tokyo, New York and London offices.