Japan-based pharmaceutical company Takeda Pharmaceutical has agreed to invest $25m in BioMotiv, the US-based biotech accelerator associated with The Harrington Project for Discovery & Development BioMoti.
Takeda will invest the cash over five years as part of a strategic agreement that will give it exclusive rights to any programmes sourced by BioMotiv in the areas of immunology and inflammation, and cardio-metabolic diseases. The partnership will also involve the two companies working together to develop medical innovations.
Baiju R. Shah, BioMotiv’s CEO, said: “This strategic relationship with Takeda provides for a seamless continuum of expertise to aggressively advance physician- scientist derived therapeutic innovations through proof of concept and into clinical development and eventual commercialisation.
“If we truly want to deliver medical breakthroughs to patients for whom therapeutic options are currently limited, or absent, it is vital to forge these close relationships among innovators, expert resources and pharmaceutical companies at the earliest opportunity.”
Launched in 2012, BioMotiv raised $21m in series A funding in August 2013 from University Hospitals Health System and the Harrington family. The company received a $20m commitment from life sciences investment firm Torrey Pines Investment the same month.