Japanese pharma group launches global VC arm
Japanese oncology specialist Taiho Pharmaceutical has launched a VC arm that will invest an initial pool of $50 million in global start-ups focused on cancer therapies.
Taiho Ventures will target early-stage developers of therapeutic products and drug-enabling platform technologies, according to a statement. The US-based subsidiary will be supported by input from its parent on product discovery and development.
The move has been framed as a commitment to create long-term relationships with international partners and is expected to result in the development of cornerstone oncology products. It follows a $30 million investment in the US-based Remiges BioPharma Fund as well as efforts to catalyze R&D activity by engaging the US-Europe biotech start-up community.
Founded in 1963, Taiho operates research facilities in China, Singapore, the UK and the US. Its flagship product, TS-1, is an oral anticancer agent that dissolves quickly and enables easier administration for patients with swallowing difficulties. In addition to oncology research, the company is active in immunology and urology, and over-the-counter medicinal products.
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