Japan's Sosei raises 800 million yen

22 October 2001

Sosei Co, a Japanese biopharmaceutical company, has raised 800 millionyen ($6.5 million) in a latest round of financing that follows an earlier fundraising from venture capitals and institutions at home and the west last year, bringing the total amount raised to over 1.50 billion yen. It will use the proceeds for drug development and to strengthen its management team. New investors include Nomura Securities, Japan Asia Investment, Tudor Capital, Intec, Nihon Trim, Crescendo Venture Capital, Shin Nihon Jitsugyo and Asahi Life Capital.

Sosei says it has "secured core products" via its drug re-profiling project, in-licensing late-stage compounds and through its internal R&D programs in collaboration with biopharmaceutical companies and universities. The firm currently has one compound in clinical trials and will shortly initiate studies of another.

Resurrecting dead compounds

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