Pharmaceutical firm Taiho Pharmaceutical has agreed to supply up to $30m for the second venture capital fund to be formed by US-based cross-border VC firm Remiges Ventures.
Remiges Ventures operates out of offices in the US and Japan, investing in early-stage developers of drugs for conditions with limited options for treatment. Its Remiges Biopharma Fund II has a $150m target for its close and will also explore medical device deals.
Taiho said it had previously contributed $30m to Remiges’ first fund, which closed at $80m in March 2017. Its other limited partners included fellow pharmaceutical company Sumitomo Dainippon, 1Globe Capital and University of Tokyo’s Tokyo Innovation Platform.
Remiges Biopharma Fund II will participate in deals in Europe and Israel in addition to Japan and the US, and Taiho plans to supply employees to the firm in order to help it make investment decisions.
