Ono Pharma doubles investment scale to accelerate open innovation
Japanese drugmaker Ono Pharmaceutical (TYO: 4528) has announced that, in order to accelerate the open innovation, it has increased its investment pool from $100 million to $200 million to continue strategic investment in Ono Venture Investment Fund I (OVI FI), which was established as a corporate venture capital fund in California, USA.
With the aim of accessing and partnering on drug discovery targets and cutting-edge technologies for the generation of innovative medicines, Ono established Ono Venture Investment, as well as OVI FI as local subsidiaries in the US in May 2020. OVI manages the investment fund and invests in bio-ventures and start-up companies.
Since the establishment in 2020, OVI and OVI FI have been supporting the drug discovery activities through strategic investments in 11 bio-venture companies to date, including the most recent investment in Photys Therapeutics (Waltham, Mass, USA).
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