Ferrotec: Notice of Establishment of Joint Venture to Conduct R&D Activities for Measurement of Biological Materials Using Nanomagnets and Sell Products with Precision System Science Co., Ltd. picture_as

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Press release: Ferrotec Holdings Corporation (TSE 6890 standard)

October 24, 2022

Notice of establishment of a joint venture that will carry out R&D activities in the biological field

Measure materials using nanomagnets and sell products with a precision system

Science Co., Ltd.

Ferrotec Holdings Corporation (hereinafter “the Company”; headquartered in Chuo-ku, Tokyo) has decided to establish a joint venture with Precision System Science Co., Ltd. (hereinafter “PSS”; headquartered in Matsudo City, Chiba Prefecture). The joint venture will carry out R&D work for the measurement of biological materials using nanomagnets by merging PSS magnetic materials reaction control technology, PCR test automation systems, immune response tests, etc. ., and related products, and the company’s technology for the production of ferrofluids, the Peltier element, etc. and related products, and sell products. The details are as follows.

1. Presentation of the joint venture

(1)

Company Name

PF BioLine Co., Ltd.

(2)

Address

88 Kamihongo, Matsudo City, Chiba Prefecture

(3)

Creation date

October 31, 2022 (expected)

(4)

Capital and capital reserve

Capital: 50 million yen

Capital reserve: 50 million yen

(5)

Number of authorized

10,000 shares

actions

(6)

Contribution rate

PSS: 51%

Society: 49%

(seven)

Executive

To be determined

(8)

Company content

R&D for the measurement of biological material using nano-magnets and sale of

some products

(9)

Month of account closure

June

2. Overview of PSS

(1)

Company Name

Precision System Science Co., Ltd.

(2)

Address

88 Kamihongo, Matsudo City, Chiba Prefecture

(3)

Title and name of

Hideji Tajima, Managing Director and President

representing

(4)

Company content

Development of in vitro diagnostic systems, manufacturing of devices, reagents,

and consumables, and maintenance

(5)

Capital

4,643 million yen

(6)

Creation date

July 17, 1985

Main shareholders and

Hideji Tajima

16.67%

(seven)

Hitachi High-Tech Corporation

8.36%

shareholding ratio

UNITEC, Inc.

4.34%

Relationship between

capital relationship

Nothing is applicable.

(8)

PSS and the

personal relationship

Nothing is applicable.

companies/individuals

Business relationship

Nothing is applicable.

3. Purpose and purpose of this joint venture

PSS helps many people to lead a comfortable life, by providing a user-friendly biodiagnostic system and using diagnostic information, and aims to expand its business by merging “biotechnology” and “manufacturing”, which is the specialty of Les Japanese companies, while using “automated system technology”, which is its strong point. The technology concept of PSS is a “simple, compact and easy to maintain” automated system, and under this concept the company has developed a flagship automated device for DNA (deoxyribonucleic acid) extraction. The company has so far distributed more than 30,000 units of this device through global companies as OEMs, and this device is currently being used not only in the research field, but also in the clinical field, including infectious diseases and DNA testing. The objective of this joint venture is to carry out R&D activities on more advanced and accurate systems in the field of biological materials measurement by merging the magnetic materials reaction control technology of PSS, automation systems PCR tests, immune response tests, etc., and related products, and the Company’s core technology for the production of errofluids, Peltier elements, etc. Our goal is to establish technologies that enable definitive diagnosis not only for infectious diseases, but also for diseases that are difficult to diagnose, such as

Press release: Ferrotec Holdings Corporation (TSE 6890 standard)

Alzheimer’s disease. Through this joint venture, we will establish an anchor point for the launch of bio-related activities.

4. Future prospects

The impact on the Company’s business performance for the current fiscal year through this matter is expected to be

minor. However, we will promptly disclose relevant items as they are confirmed.

Disclaimer

Ferrotec Holdings Corporation published this content on October 27, 2022 and is solely responsible for the information contained therein. Distributed by Audienceunedited and unmodified, on October 27, 2022 08:03:04 UTC.

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