Nippon Biomedical in US genome accord

Japan's Shin Nippon Biomedical Laboratories, a leading drug development contractor, has reportedly joined forces with USA-based Tranzyme in an accord which provides $1 million in capital and opens the way for the joint R&D of genome-derived drugs between the two firms.

Under the terms of the agreement, SNBL acquired 1 million shares in Tranzyme at a cost of $1 million via a private issue of common stock giving it an 11% stake in the business. The Japanese firm will establish a US subsidiary through which it will conduct the joint research initiatives, reports the Nikkei Weekly.

Tranzyme was established four years ago and is focused on the development of treatments for neurosensory disorders relating to vision and hearing. For its part, SNBL has technical expertise in drug development using large animal models, a factor pivotal to Tranzyme's gene-altering-based techniques.