JAIC, Nippon Venture lead Series D for Regimmune
Japan Asian Investment Corporation (JAIC) and Nippon Venture Capital have together led a $9.2 million Series D round of investment in Tokyo-based biotech firm Regimmune Corporation.
Mizuho Capital, Nissei Insurance, Mitsui Sumitomo insurance and Kanagawa Science Park operator KSP also participated, alongside existing investors SMBC Venture Capital and Mitsubishi UFJ Bank Capital.
Regimmune - which also has operations in California - focuses on the discovery, development and commercialization of therapeutics to treat a range of debilitating immune conditions, including allergies and autoimmune diseases.
According to a release, this latest capital injection will be used to support the company's early-stage product development. Regimmune has already completed a phase I study of RGI-2001 - a drug used to treat Graft versus Host Disease (GvHD), a common complication following tissue transplant - and has now initiated a phase II clinical trial.
AVCJ Research shows that Regimmune initially raised $1.6 million from JAIC, SMBC and Nikko Antfactory in 2006. JAIC and SMBC returned in 2007 to invest $4.76 million with Orix Capital, Mitsubishi UFJ, New Business Investment, Riken Venture Capital, Tokyo Small and Medium Business Investment & Consultation and Yasuda Enterprise Development.
The company then raised another $7.5 million in 2008 from a consortium of 12 VC investors, including existing backers JAIC, SMBC and Yasuda. In 2012, it raised $5.5 million in another round led by JAIC and SMBC with new investors Daiwa Corporate Investment, Shinkin Capital and Chibaqin Capital.
More on North Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.