StemRIM Inc. announced the commencement, from July 25, 2023, of a global late Phase 2 clinical trial for Redasemtide in patients with acute ischemic stroke in the Europe and China. Shionogi &Co. Ltd. submitted the Clinical Trial Plan Notification for the global Phase 2 clinical trial to the European Medicines Agency on March 31, 2023, and to the National Medical Products Administration in China on April 28, 2023.

Originally, a global Phase 3 trial was planned, but a global late Phase 2 trial was chosen instead for dose setting. The trial has already been underway in Japan and the United States, and it has just started in Europe and China. This development is progressing as planned and is not expected to have any impact on the financial performance for the fiscal year ending July 31, 2023.

However, the company believe that it will contribute to the improvement of its performance in the medium to long term.