Taiho Pharmaceutical Co., Ltd. (HQ: Tokyo, President and Representative Director: Masayuki Kobayashi) announced on August 29 that the company has entered into an agreement to invest up to US$30 million in Remiges BioPharma Fund II, LP a biopharma venture capital fund formed by Remiges Ventures, Inc. Taiho Pharmaceutical invested the same amount in the Remiges BioPharma Fund I established in 2014.
Taiho Pharmaceutical has made use of the Remiges BioPharma Fund I as a platform for open innovation with academia, research institutions, and startups in the early stages of development in the US and Europe. Going forward, the company will establish and strengthen its network with venture businesses that have early seeds in the US, Europe, Israel, Japan, and elsewhere, in an effort to enhance its new drug development capabilities by actively accessing innovative technologies. Taiho Pharmaceutical will also dispatch employees to Remiges Ventures in an ongoing effort to develop human resources who are capable of making good assessments from a global perspective.
By investing in promising new external technologies, in addition to the in-house drug discovery infrastructure that it has developed over many years, Taiho Pharmaceutical hopes to increase its portfolio of innovative drugs that can make a positive contribution to the world.
Overview of Remiges BioPharma Fund II, LP
-Fund name: Remiges BioPharma Fund II, LP
-Established: June 2019
-Operating bases: Tokyo, Japan, and Boston and Seattle, USA
-Fund size: Up to US$150 million
-Fund term: 10 years
-Investment areas: Seed/early stage pharmaceuticals and medical devices
-Investment regions: North America, Europe, Israel, Japan, and elsewhere
About Taiho Pharmaceutical Co., Ltd. (Japan)
Taiho Pharmaceutical, a subsidiary of Otsuka Holdings Co., Ltd., is an R&D-driven specialty pharma company with a focus on oncology. Taiho Pharmaceutical also has development programs in allergy and immunology, urology and consumer healthcare products. Its corporate philosophy is simple: “We strive to improve human health and contribute to a society enriched by smiles.”