Otsuka, a Japan-based pharmaceutical and nutraceutical products manufacturer, has formalised its corporate venturing unit in the United States.
Otsuka Nutraceutical Emerging Ventures (Once Ventures) will target brands in the health and wellness space by investing in developers of active nutrition, supplements, plant-based foods and healthy beverage brands across North America looking for series A or B financing.
Les Hine, CEO of Once Ventures, said: “We want to encourage and nurture [their] entrepreneurial spirit by offering young companies and their leaders access to Otsuka’s technical expertise, market knowledge and capital.”
The corporate’s existing portfolio companies include Proteus Digital Health, which received $88m in equity funding and upfront payments in late 2018 when it extended its collaboration partnership with Otsuka, and ReCor Medical, which Otsuka subsequently acquired.
Photo of Les Hine courtesy of LinkedIn.
