Takeda, Astellas and Sumitomo Mitsui establish drug discovery JV

Japanese drug majors Takeda Pharmaceutical (TYO: 4502) and Astellas Pharma (TYO: 4503), along with Sumitomo Mitsui Banking, today announced the signing of a master agreement to establish a joint venture company.

The new company will be dedicated to the incubation of early drug discovery programs, primarily originating from Japan and toward the creation of innovative therapeutics.

The companies explain that Japan, as one of the world's leaders in drug discovery and development, is home to both world-class academic institutions conducting innovative basic research in drug discovery and global pharmaceutical companies, with extensive expertise in early drug research and development. Both possess a wealth of early drug discovery programs with breakthrough potential.