Catalys seeks $100m for Japan healthcare VC fund
Newly established Japanese venture capital firm Catalys Pacific has launched its debut fund with a view to raise $100 million for investments in early-stage life science start-ups globally.
The fund has received at least $80 million in commitments to date, according to a regulatory filing. The plan is to leverage a network of several groups across the pharmaceutical industry, biotechnology research, and venture capital to develop companies addressing unmet medical needs. Catalys, which operates via bases in the US and Japan, says these initial resources already establish it as one of Japan's largest life sciences investment firms.
Strategic partners include SoftBank Group, as well as life sciences-focused VCs Abingworth, Domain Associates, and Frazier Healthcare Partners. They are joined by Celgene Corporation, a US-based biopharmaceutical company that has invested several Asian counterparts, Takeda Pharmaceutical, a Japanese researched backed by Frazier among other GPs, and Tokyo-listed oncology treatments specialist Chugai Pharmaceutical.
"Pharmaceutical companies increasingly partner with venture capital as a source of external capital and talent to advance the development of assets while seeking to reduce risk and enhance their pipelines," Tatsuro Kosaka, president and CEO of Chugai, said in a statement. "I hope that Catalys Pacific will play a leading role in accelerating open innovation in the life science field in Japan."
Catalys was established by B.T. Slingsby, whose experience includes founding the Global Health Innovative Technology Fund – the first public-private fund focused on new medicines for low and middle-income countries. He will lead the business alongside Takeshi Takahashi, a former investment banker at Morgan Stanley, and Bill Watt, a venture partner with experience at several US and Japanese biotech start-ups.
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