Taiho Ventures, the corporate venturing vehicle for Japan-based pharmaceutical company Taiho, increased the size of its investment pool from $50m to $300m earlier today.
Launched in May 2016, Taiho Ventures operates out of a US office situated in California, and focuses on early, preclinical-stage drug developers, particularly those working on cancer therapies which could utilise the resources of its parent company, a developer of oral anti-cancer treatments.
Taiho said it is providing the extra money not only to reinforce its support of innovative medicines, but also to strengthen its own open innovation activities.
The unit’s portfolio companies include immuno-oncology therapy developer Arcus Biosciences, which floated in a $138m initial public offering in March this year, Oric Pharmaceuticals, Pact Pharma and Harpoon Therapeutics.
Taiho Pharmaceutical’s president, Masayuki Kobayashi, said: “Taiho Pharmaceutical aims to be a global oncology company. We conduct innovative R&D into new drugs originating in Japan based out of our drug discovery research facilities in Tsukuba, Ibaraki. This has brought many compounds to clinical study.
“In addition to its mainstay in-house drug discovery, Taiho Pharmaceutical will also continue to access groundbreaking innovation, primarily in the oncology field, through Taiho Ventures, in an effort to further strengthen its drug discovery capabilities.”
