VC firms support Japan-US drug development alliance
Drais Pharmaceuticals, a US-based firm backed by InterWest Partners and Sutter Hill Ventures, will form a partnership with Japan’s Astellas Pharma to jointly develop a new line of drugs. Astellas has agreed to transfer assets to Drais-operated Telsar Pharma, which will receive $14 million in funding from InterWest, Sutter Hill and Astellas Venture Management, the Japanese firm’s corporate VC arm.
The partnership will create and commercialize treatments for ulcerative colitis, an inflammatory bowel disease that affects the lining of the large intestine. Drais is to serve as exclusive provider of...
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