Japan-based drugs company Takeda Pharmaceutical’s corporate venturing unit has made an equity investment of undisclosed size in Fate Therapeutics as part of a plan to help its parent move into regenerative medicines.
Takeda Ventures joins peers Astellas Venture Management, Genzyme Ventures and a third, unnamed corporate venturing group as strategic investor in Fate.
The venture capital firms backing Fate are Arch Venture Partners, OVP Venture Partners, Polaris Venture Partners and Venrock.
Graeme Martin, executive president at Takeda Ventures, formerly known as Takeda Reseach Investment until the start of the year, said: "Fate Therapeutics is a world-leading company in stem cell science-based therapeutics, using the most advanced rare cell isolation and cell state characterization technologies to elucidate disease biology and identify selective targets for biologics-based therapeutics. This relationship between Fate and Takeda significantly complements Takeda’s own research and development in regenerative medicine."
Takeda’s investment comes three months after Paul Grayson, executive president at Fate since April 2008, said he was leaving to form a new company.
Fate previously raised $30m in its series B round in November 2009.