Japan-based pharmaceutical firm Takeda has invested an undisclosed amount in Chordia Therapeutics, a oncology drug development spinout, as part of its series A round, Fierce Biotech reported yesterday.
Although the round’s size has not been disclosed, it also includes Mitsubishi UFJ Capital and SMBC Venture Capital, the venture capital arms of banks Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation, as well as Kyoto University Innovation Capital.
Chordia was formed by six former scientists at Takeda and has licensed several drug programs from the company, including an adult T cell leukaemia lymphoma treatment and a preclinical protein kinase inhibitor that could form the basis of an anti-cancer drug.
The startup is also making use of lab space at Takeda’s facilities in the Shonan region of Japan, where the scientists used to work, but which the corporate is converting into an incubator.
Kyoto University Innovation Capital took part in the round through its link with Seishi Ogawa, a professor at Kyoto University’s Department of Pathology and Tumour Biology, who has joined Chordia.
Chordia is one of three startups Takeda has spun out as part of its entrepreneurship venture scheme, the others being drug discovery services providers ChromaJean and Seedsupply. The Shonan site is also hosting Takeda-backed joint ventures Cardurion, Scohia Pharma and T-Cira.