Taiho Pharma and Sumitomo Dainippon both invest in Remiges BioPharma Fund

25 July 2014

Japanese oncology-focussed drugmaker Taiho Pharmaceutical (TYO: 6470) has said that it will be investing $30 million in Remiges BioPharma Fund, a newly formed biotech venture capital fund created by Remiges Ventures.

Taiho hopes to use the investment in Remiges Fund as the platform for open innovation - an outreach for innovative technologies. Through Remiges' well-connected US-Japan cross border investment team, Taiho will be tapping into the US/Europe biotech start-up community and catalyze the company's R&D to deliver innovative cancer treatment to patients, the company noted.

Separately, Sumitomo Dainippon Pharma (TYO: 4506) said it too has entered into an agreement with Remiges Ventures, under which it will invest up to a cumulative total of $30 million in Remiges BioPharma Fund.

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