News Releases

August 29, 2019
Taiho Pharmaceutical Co., Ltd.

Taiho Pharmaceutical Invests in New Venture Capital Fund

Taiho Pharmaceutical Co., Ltd. (HQ: Tokyo, President and Representative Director: Masayuki Kobayashi) announced today that the company has entered into an agreement to invest up to US$30 million in Remiges BioPharma Fund II, LP a biopharma venture capital fund formed by Remiges Ventures, Inc. Taiho invested the same amount in the Remiges BioPharma Fund I established in 2014.

Taiho Pharmaceutical has made use of the Remiges BioPharma Fund I as a platform for open innovation with academia, research institutions, and startups in the early stages of development in the US and Europe. Going forward, the company will establish and strengthen its network with venture businesses that have early seeds in the US, Europe, Israel, Japan, and elsewhere, in an effort to enhance its new drug development capabilities by actively accessing innovative technologies. Taiho Pharmaceutical will also dispatch employees to Remiges Ventures in an ongoing effort to develop human resources who are capable of making good assessments from a global perspective.

By investing in promising new external technologies, in addition to the in-house drug discovery infrastructure that it has developed over many years, Taiho Pharmaceutical hopes to increase its portfolio of innovative drugs that can make a positive contribution to the world.

Overview of Remiges BioPharma Fund II, LP

Fund name

Remiges BioPharma Fund II, LP

Established

June 2019

Operating bases

Tokyo, Japan, and Boston and Seattle, USA

Fund size

Up to US$150 million

Fund term

10 years

Investment areas

Seed/early stage pharmaceuticals and medical devices

Investment regions

North America, Europe, Israel, Japan, and elsewhere

URL

www.remigesventures.com

Information in this news release was current as of the original release date.