BRIEF—Chugai establishes corporate venture capital

Japanese pharma major Chugai Pharmaceutical says it will establish a corporate venture capital (CVC) business, under the tentative name “Chugai Venture Fund,” in the Boston area, USA, by the end of 2023 to invest in innovative drug discovery start-up companies to accelerate innovation opportunities centered on innovative new drugs.

Chugai, which is majority owned by Swiss pharma  giant Roche, aims to expand its core R&D competencies, improve the quality of R&D outputs, and continuously create innovations by strengthening open innovation.

The CVC is scheduled to be established by the end of 2023.

It will invest an overall $200 million, primarily targeting drug discovery start-ups that possess capabilities that will expand our proprietary drug discovery platform, including drug discovery targets, drugs discovery technologies, and digital technologies to create innovative new drugs.

The CVC will enhance access to high-performing entrepreneurs and high-potential technologies, primarily in the USA, Europe, and Japan.

Furthermore, this CVC aims to create new value by combining Chugai’s strengths with external technologies through co-creation with investment partners, such as by providing technical advisory support and promoting partnerships with Chugai.