Chiome Bioscience Inc.
4583・Growth Market・Pharmaceuticals
Business
Chaom Bioscience Inc. is a research and development-driven biopharmaceutical company established in 2005 with the aim of commercializing the ADLib® System, an antibody production technology originating from RIKEN. Under its mission of "Bringing the Light of Drug Discovery to Unmet Medical Needs," the company operates two business segments: the "Drug Discovery Business," which creates and out-licenses antibody drug candidates for disease areas not adequately addressed by existing treatments, such as pancreatic cancer, liver cancer, and ALS; and the "Drug Discovery Support Business," which provides antibody production and protein preparation services to major domestic pharmaceutical companies such as Ono Pharmaceutical and the Chugai Pharmaceutical group, as well as to academia. The company is listed on the Growth Market of the Tokyo Stock Exchange, and two products, CBA-1205 and CBA-1535, are currently in Phase 1 clinical trials. In November 2024, the company concluded a licensing agreement for PFKR with Asahi Kasei Pharma (upfront payment of ¥200 million, maximum milestone payments of ¥24,800 million).
Business Model
The Drug Discovery Support Business (FY2025 revenue of ¥593 million, segment profit margin of 59.9%) serves as a stable revenue base that funds R&D investment. In the Drug Discovery Business, the company licenses out programs to pharmaceutical companies after preclinical to early clinical development, earning upfront payments, milestones, and royalties. Since 2025, the IDD Business (Integrated Drug Discovery) (Biosimilar Development Support and drug discovery consulting) has been incorporated into the Drug Discovery Support Business to diversify revenue.
Company Strengths
Holds three technologies: the ADLib® System (human IgG antibody acquisition in approximately 10 days, no immune tolerance constraints), Tribody® (multispecific antibodies with three antigen-binding sites), and DoppeLib™ (bispecific antibody high-throughput screening). Has built a robust intellectual property portfolio with granted patents in multiple countries including Japan, the U.S., Europe, and China.
In FY2025, the Drug Discovery Support Business achieved segment sales of ¥593 million and a segment profit margin of 59.9%, significantly exceeding the 50% target, achieving high profitability. The company holds multiple long-term outsourcing contracts with major pharmaceutical companies, including Ono Pharmaceutical (¥319 million) and the Chugai Pharmaceutical group (¥69 million), securing a stable source of funding for R&D investment.
Two products are in the clinical stage: CBA-1205 (targeting hepatocellular carcinoma, melanoma, and pediatric cancers, currently in the latter part of Phase 1) and CBA-1535 (targeting solid tumors, currently in the former part of Phase 1). In November 2024, the company concluded a PFKR license agreement with Asahi Kasei Pharma, receiving an upfront payment of ¥200 million and securing rights to milestone payments of up to ¥24,800 million.
ENVALITH's Perspective
Performance Trend
Cumulative revenue for 1Q of FY2026 (ending December 2026) was ¥147 million (up 6.1% year on year), and operating loss was ¥232 million (narrowing from ¥264 million in the same period of the prior year). Annual revenue over the past five fiscal years fluctuated unstably in a range of ¥593 million to ¥781 million, with FY2025 (ending December 2025) at ¥593 million, a relatively low level. The loss has gradually narrowed from ¥1,334 million in FY2021 to ¥980 million in FY2025, but this is mainly attributable to reductions in R&D expenses. The segment profit margin of the Drug Discovery Support Business, at 54.7%, exceeds the target of 50% and remains stable, but as long as no revenue is recognized from the Drug Discovery Business, a structural turnaround to profitability is likely to remain difficult. For FY2026 (ending December 2026), only revenue guidance of ¥600 million for the Drug Discovery Support Business has been disclosed, with no company-wide forecast released.
Growth Strategy
Diversifying revenue through three pillars: out-licensing of the clinical pipeline, expansion of the IDD Business, and creation of new lead antibodies
Enrollment in the latter part for hepatocellular carcinoma and melanoma patients has been completed, and data analysis is underway. High-dose safety evaluation is being conducted in the pediatric cancer cohort. The company aims to maximize product value through confirmation of partial response in DLK1-expression-confirmed patients, with the goal of out-licensing to a pharmaceutical company.
Stepwise dose escalation is ongoing in the Phase 1 trial targeting solid tumors. No adverse events raising development concerns have been observed. The company is advancing out-licensing activities that prioritize the use of monotherapy part data, with the combination part with checkpoint inhibitors to be entrusted to the partner after out-licensing.
Joint development of biosimilar cell line construction with Alfresa Holdings and KM Biologics is progressing smoothly. The company continues to explore partnerships and discuss collaborations with pharmaceutical companies toward the launch of biosimilars under development and the creation of additional products. Revenue is recorded under the Drug Discovery Support Business.
For PCDC, out-licensing activities are being advanced primarily targeting pharmaceutical companies with ADC technology, focusing on ADC applications. For PTRY, out-licensing at the preclinical stage is prioritized. PXLR has begun activities as a new out-licensing candidate arising from joint research results with Osaka Metropolitan University. The growing global attention on ADCs could serve as a tailwind in the external environment.
The company is advancing joint research toward the creation of mRNA-encoded antibodies utilizing Tribody® technology, aiming to expand its new pipeline. Through the application of its existing technology platform to new modalities, the company aims to diversify future out-licensing opportunities.
Last updated: July 17, 2026