Innovation Kyoto 2021 Investment Limited Partnership" ("KYOTO-iCAP FundⅡ"), managed by Kyoto University Innovation Capital Co.,Ltd. ("Kyoto iCAP") (Headquarters: Sakyo-ku, Kyoto; Representative Director: Ko Kusumi) as an unlimited partner, has received an investment from "TOKIWA-Bio Inc. (Headquarters: Tsukuba City, Ibaraki Prefecture; Representative Director: Mahito Nakanishi) from "Nagoya University and Tokai Area University Wide Area Venture No.1 Investment Limited Partnership" whose general partner is Nippon Venture Capital Co., Ltd. (Headquarters: Tokyo; Representative Director: Minoru Tagaya).

Overview of the investment
TOKIWA-Bio has developed the Stealth-type RNA Vector (SRV) technology, which enables stable, long-term expression of multiple genes without integration into the host chromosome. Using this technology, the company has successfully established methods for efficiently producing high-quality iPS cells.

Following its Series B financing completed in October 2025 with participation from Kyoto iCAP, TOKIWA-Bio is actively advancing the practical application of SRV-based iPS cell induction technologies, a variety of cell reprogramming technologies, and the expansion of its business both domestically and globally.

Through this share acquisition, Kyoto iCAP will further strengthen its collaboration with TOKIWA-Bio and continue to promote the social implementation of university-originated innovations by supporting the company’s research, development, and commercialization activities.

Details of the transaction, including the share transfer price, will not be disclosed due to confidentiality obligations between the parties and the sensitive nature of the business information involved.

Kyoto iCAP remains committed to providing fair and appropriate information disclosure to investors and stakeholders while striving to enhance corporate value and achieve long-term business growth.

Company Profile : TOKIWA-Bio Inc.
Establishment : December 22, 2014
Business Activities：Research, development, and sales of Stealth RNA Vectors
Head Office: 2-1-6 Sengen, Tsukuba City, Ibaraki Prefecture, Japan
Representative Director: Mahito Nakanishi
HP : https://tokiwa-bio.com/

About Kyoto University Innovation Capital , Co. Ltd. (Kyoto iCAP):
As a wholly owned subsidiary of Kyoto University, KYOTO-iCAP provides investment and other business support to companies that utilize research results generated by Kyoto University and other national universities. KYOTO-iCAP currently operates the Innovation Kyoto 2016 Investment Limited Partnership ("KYOTO -iCAP Fund Ⅰ") (established in January 2016) with a total value of 16 billion yen and the KYOTO-iCAP Fund Ⅱ (established in January 2021) with a total value of 18.1 billion yen. The KYOTO-iCAP Fund Ⅰ has a maturity of up to 20 years, and the KYOTO-iCAP Fund Ⅱ has a maturity of up to 17 years, enabling long-term support for the practical application of research results from Kyoto University, which is strong in basic research. In addition, a portion of the KYOTO-iCAP Fund Ⅱ will be invested in ventures originating from national universities in Japan other than Kyoto University.

Contact information for inquiries
Kyoto University Innovation Capital, Co. Ltd.
36-1 Yoshida Honmachi, Sakyo-ku, Kyoto 606-8317, Japan
Osami Kono, Senior Officer, Business Development Department
TEL: 075-753-7588 FAX: 075-753-7592
E-mail：info@kyoto-unicap.co.jp