Taiho Ventures Expands Investment Pool to US$300 Million to Continue Quality Investments and Accelerate Open Innovation
MENLO PARK, Calif. and TOKYO, Oct. 16, 2018
MENLO PARK, Calif. and TOKYO, Oct. 16, 2018 /PRNewswire/ -- Taiho Ventures, LLC, a strategic corporate venture capital arm of Taiho Pharmaceutical, Co., Ltd., announced on October 16 that Taiho Ventures increased its investment pool by US$250 million from the initial US$50 million to US$300 million. The increase in the investment pool illustrates Taiho Ventures' strong commitment to its continuous support of innovative biotech start-ups pursuing cutting-edge drug discovery activities based on state-of-the-art science. Taiho Pharmaceutical also aims to accelerate its open innovation through these investment efforts.
Taiho Ventures is actively searching for opportunities around the world to invest in promising start-up companies that conduct innovative first-in-class drug discovery and establish unique platform technologies, primarily in the oncology field, leveraging the resources that Taiho Pharmaceutical has assembled as a pioneer of oral anticancer drugs. Since its inception in 2016, Taiho Ventures has built an innovative investment portfolio that includes Arcus Biosciences, PACT Pharma, Harpoon Therapeutics, Storm Therapeutics, ORIC Pharmaceuticals and Quentis Therapeutics.
With Arcus Biosciences, the first investment from Taiho Ventures, Taiho Pharmaceutical entered into an option agreement in September 2017 to in-license exclusive development and commercialization rights of product candidates in Arcus pipeline programs in Japan and the rest of Asia (excluding China). In July 2018, Taiho Pharmaceutical exercised the option on their adenosine receptor antagonist AB928.
"Taiho Pharmaceutical aims to be a global oncology company," said Masayuki Kobayashi, President and Representative Director at Taiho Pharmaceutical. "We conduct innovative R&D into new drugs originating in Japan based out of our drug discovery research facilities in Tsukuba, Ibaraki. This has brought many compounds to clinical study.* In addition to its mainstay in-house drug discovery, Taiho Pharmaceutical will also continue to access groundbreaking innovation, primarily in the oncology field, through Taiho Ventures, in an effort to further strengthen its drug discovery capabilities."
* For details about compounds under development, see the website below. https://www.taiho.co.jp/en/science/pipeline/
About Taiho Ventures, LLC
Taiho Ventures, LLC is the strategic corporate venture capital arm of Taiho Pharmaceutical Co., Ltd., a Japanese specialty pharma focusing on oncology, allergy and immunology, and urology. Taiho Ventures is looking at early-stage preclinical oncology companies as well as platform technology companies for our core therapeutic areas. Taiho Ventures will review the wide variety of modalities for both biologics and small molecules. The company will also consider the option type of investments and spin-outs, in addition to the pure equity investments.
About Taiho Pharmaceutical Co., Ltd. (Japan)
Taiho Pharmaceutical, a subsidiary of Otsuka Holdings Co., Ltd. (https://www.otsuka.com/en/), is an R&D-driven specialty pharma focusing on the three fields of oncology, allergy and immunology, and urology. Its corporate philosophy takes the form of a pledge: "We strive to improve human health and contribute to a society enriched by smiles." In the field of oncology, in particular, Taiho Pharmaceutical is known as a leading company in Japan for developing innovative medicines for the treatment of cancer, a reputation that is rapidly expanding through their extensive global R&D efforts. In areas other than oncology, as well, the company creates and markets quality products that effectively treat medical conditions and can help improve people's quality of life. Always putting customers first, Taiho Pharmaceutical also aims to offer consumer healthcare products that support people's efforts to lead fulfilling and rewarding lives. For more information about Taiho Pharmaceutical, please visit https://www.taiho.co.jp/en/
SOURCE Taiho Ventures, LLC