Japan-based venture capital firm Catalys Pacific officially launched a $100m healthcare fund on Monday backed by life sciences companies Celgene, Chugai Pharmaceutical, Eisai and Takeda Pharmaceutical.
Internet and telecommunications conglomerate SoftBank has also provided capital for the fund. Catalys has not confirmed whether it has reached the $100m target, indicated in a regulatory filing in March 2019 that revealed the firm had so far secured $80m.
Catalys will focus on the healthcare sector, and will particularly seek out technologies tackling unmet medical needs. The firm is led by founder and managing director Brian Slingsby, managing partner Takeshi Takahashi and venture partner Bill Watt, and will operate out of Tokyo and Kanagawa in Japan, as well as Seattle in the US.
Catalys will collaborate with investment group Abingworth and venture capital firms Domain Associates and Frazier Healthcare Partners in identifying potential portfolio companies and establishing startups. It has not revealed whether the firms – designated preferred partners – contributed cash to the fund.
Robert Hershberg, executive vice-president and head of business development and global alliances for Celgene, said: “The strong network and trust that the Catalys Pacific team has within academia, biotech and the pharmaceutical industry in Japan enables them to galvanise open innovation in the region.
“Their experience combined with a base in Japan as well as independent governance differentiate themselves with other venture capital firms. We are excited to partner with Catalys Pacific to drive forward life sciences innovation with Japan.”
