Japan's INCJ launching new VC funds
Innovation Network Corporation of Japan (INCJ), the government-owned fund, plans to launch intellectual property venture funds with special focuses including biotech, slating the end of this year.
The funds will buy unused technologies invested by local universities and research institutions which already have patents to license them to venture firms. The initiative targets nine segments, including nanotechnology and energy batteries, and four segments related to life science will be formed around September. The No.1 fund will be "The Life Science Intellectual Fund," operated by an intellectual strategy group formed by ex-directors of Takeda Pharmaceuticals. This will raise up to JPY1 billion( $11.6 million) from INCJ, plus between JPY20-30 million($0.23-0.35 million) from some 20 leading local pharmaceutical companies and other sources. Targeted patents for the fund will be biomarkers, cancer, Alzheimer's and human embryonic stem cell therapeutics.
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