Protosera, Inc. announced that it has signed a subscription agreement for the private placement of 40,000 shares through third-party allotment on March 24, 2021. The transaction will include participation from new investor Towa Pharmaceutical Co., Ltd. (TSE:4553) for 77.1% stake in the company. The transaction is subject to the approval from the company’s shareholders at the Extraordinary General Meeting scheduled to be held on March 30, 2021. The transaction has been approved by the board of directors of Towa Pharmaceutical Co., Ltd. (TSE:4553). The transaction is expected to close on March 31, 2021.