Joint Venture Company Established for Incubation of Early Drug Discovery Programs; Investment from Takeda, Astellas and Sumitomo Mitsui Banking

Rhea-AI Summary

Ciconia Bioventures Inc., a joint venture company, has been established based on a master agreement signed by Takeda Pharmaceutical Company (TSE: 4502/NYSE: TAK), Astellas Pharma Inc. (TSE: 4503), and Sumitomo Mitsui Banking . The company aims to translate innovative technologies and drug discovery programs from Japan into clinical applications, focusing on:

• Covering the entire process from early drug discovery research to establishing biotech startups
• Formulating development strategies and enhancing the value of promising drug discovery seeds
• Integrating R&D funding and experienced management teams to launch new startups
• Collaborating with academia, biotech ventures, and pharmaceutical companies across Japan

Ciconia's goal is to advance innovative drug discovery programs, incubate globally competitive drug discovery technology, and foster entrepreneurship in Japan's pharmaceutical sector.

Positive

• Establishment of a joint venture company to boost Japan's drug discovery ecosystem
• Collaboration with major pharmaceutical companies and a banking
• Focus on translating innovative technologies into clinical applications
• Potential for increasing successful biotech ventures in Japan
• Aim to deliver Japanese innovations to the global pharmaceutical market

Negative

• None.

TOKYO, Oct. 8, 2024 /PRNewswire/ -- Ciconia Bioventures Inc. (Representative Director, Founder CEO: Toshio Fujimoto, "Ciconia") today announced its establishment as a joint venture company based on a master agreement signed on April 22, 2024 by Takeda Pharmaceutical Company Limited (TSE: 4502/NYSE: TAK, President and CEO, Christophe Weber, "Takeda"), Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura, "Astellas"), and Sumitomo Mitsui Banking Corporation (President & CEO: Akihiro Fukutome, "SMBC"). (News release regarding the master agreement is here.)

Ciconia seamlessly covers the entire process from early drug discovery research to establishment of biotech startups, with the aim of translating innovative technologies and drug discovery programs originating in Japan into clinical applications. Leveraging a wide range of promising drug discovery seeds from Japanese academia, biotech startups, and pharmaceutical companies, the company will focus on formulating development strategies and acquiring new data to enhance the value of these seeds, transforming them into high-potential assets with a greater likelihood of success. The company will also integrate additional R&D funding and experienced management teams to launch new innovative startups, increasing the number of successful biotech ventures emerging from Japan. To achieve these goals of advancing innovative drug discovery programs primarily originating from Japan into the global pharmaceutical market, incubating globally competitive drug discovery technology, and fostering entrepreneurship, Ciconia's incubation activities will be carried out in collaboration with academia, biotechnology ventures, and pharmaceutical companies across Japan, in a shared effort to unleash the potential of drug discovery ecosystem for the world.

"Ciconia will evaluate early development stage seeds, establish its own company based on the selected seeds, raise funds worldwide and pursue global product development," said Toshio Fujimoto, Representative Director, Founder CEO at Ciconia. "Ultimately, we hope to deliver innovations from Japan to the world through our work."

"The establishment of Ciconia is a significant step forward for the further growth of Japan's drug discovery ecosystem to lead global R&D," said Yasushi Kajii, Head of R&D Japan Region at Takeda. "Leveraging our extensive experience in supporting venture companies and entrepreneurs both domestically and internationally, we are committed to supporting startups emerging from Ciconia with excellent drug discovery seeds to expand globally."

"We highly expect that Ciconia will activate Japan's drug discovery ecosystem in collaboration with a wide variety of players from industry, government, and academia, and deliver innovative therapeutics to patients around the world through its global expansion," said Issei Tsukamoto, Ph.D., Head of Business Development, Astellas. "We will provide multifaceted support to Ciconia based on our drug discovery and business expertise, and networks we have cultivated worldwide."

"We will support Japan's resurgence by promoting the development of new technologies and industries through Ciconia Bioventures Inc., which aids in the development of new pharmaceuticals," added a representative for SMBC.

About Ciconia Bioventures Inc.

Location:

- Headquarter: 2-26-1, Muraoka-Higashi, Fujisawa, Kanagawa 251-0012, Japan

- Tokyo Office: 3-11-5, Nihonbashi-Honcho, Chuo-ku, Tokyo 103-0023, Japan

Founded: August 2024

Capital: Approximately 600 million yen (including capital reserve)

Management Team:

- Representative Director, Founder CEO: Toshio Fujimoto

- COO/CBO: Masaharu Tani

- Interim CSO: Yoshinori Ikeura

Homepage: https://www.ciconiabioventures.com

 

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SOURCE Ciconia Bioventures Inc.

FAQ

What is the purpose of Ciconia Bioventures Inc.?

Ciconia Bioventures Inc. aims to translate innovative technologies and drug discovery programs from Japan into clinical applications, covering the entire process from early drug discovery research to establishing biotech startups.

Who are the founding partners of Ciconia Bioventures Inc.?

Ciconia Bioventures Inc. is a joint venture established by Takeda Pharmaceutical Company (TAK), Astellas Pharma Inc., and Sumitomo Mitsui Banking

How will Ciconia Bioventures Inc. impact Japan's drug discovery ecosystem?

Ciconia aims to advance innovative drug discovery programs, incubate globally competitive drug discovery technology, and foster entrepreneurship, potentially increasing the number of successful biotech ventures emerging from Japan.

What is Takeda's (TAK) role in Ciconia Bioventures Inc.?

Takeda (TAK) is one of the founding partners of Ciconia and will support startups emerging from Ciconia with excellent drug discovery seeds to expand globally, leveraging its experience in supporting venture companies and entrepreneurs.