Taiho Pharmaceutical Co., a Tokyo, Japan-based specialty pharma company with a focus on oncology, is to invest up to US$30m in Remiges Biopharma Fund II, LP, a biopharma venture capital fund formed by Remiges Ventures, Inc.The company had invested the same amount in the Remiges BioPharma Fund I established in 2014, using it as a platform for open innovation with academia, research institutions, and startups in the early stages of development in the US and Europe.
Going forward, the company will establish and strengthen its network with venture businesses that have early seeds in the US, Europe, Israel, Japan, and elsewhere, in an effort to enhance its new drug development capabilities by actively accessing innovative technologies.
Taiho will also dispatch employees to Remiges Ventures in an ongoing effort to develop human resources who are capable of making good assessments from a global perspective.
Established in June 2019, Remiges BioPharma Fund II, LP, is an up to US$150m vehicle investing in seed/early stage pharmaceuticals and medical devices in North America, Europe, Israel, Japan, and elsewhere. Based in Tokyo, Japan, and Boston and Seattle, USA, the fund has a duration of 10 years.
A subsidiary of Otsuka Holdings Co., Ltd., Taiho Pharmaceutical is an R&D-driven specialty pharma company with a focus on oncology and also has development programs in allergy and immunology, urology and consumer healthcare products.