JapanBridge and Kyowa Hakko in oncology cooperation

Tokyo-based JapanBridge, a specialty pharmaceutical company founded in 2006 by MPM Capital and Itochu Corp, has entered into a strategic alliance with Japanese drugmaker Kyowa Hakko Kogyo to collaborate on the commercialization of oncology and oncology supportive care assets in Japan.

Separately, JapanBridge announced the completion of a $6.5 million series A-2 preferred financing provided by MPM Capital, Itochu and Kyowa Hakko. The A-2 funds will be used to build the business infrastructure in Japan and identify two-four oncology drugs for licensing into Japan. JapanBridge intends to complete the clinical development of these programs and later commercialize or co-commercialize the products.

"Primarily because of the lack of available capital, the successful specialty pharma model of the USA and Europe has not evolved to respond to the changing regulatory and commercial environment in Japan. Through strong relationships with MPM Capital, Itochu, Kyowa Hakko and other venture capital investors, JapanBridge will be strategically positioned to take advantage of these changes. Our team is uniquely qualified to work with western biotech companies to secure approvals for drugs that might not otherwise be brought to the Japanese market," noted Steven Engen, JapanBridge's chief executive.