Daiichi Sankyo partners in new open innovation business funding

18 September 2013

Japanese drug major Daiichi Sankyo (TYO: 4568) and Mitsubishi UFJ Capital Co have agreed to launch a new open innovation business through the Organization for Small & Medium Enterprises and Regional Innovation (OiDE) Fund Investment Limited Partnership, established this week and operated by Mitsubishi UFJ Capital.

For pharmaceutical companies that aim for breakthrough drug discoveries to meet the diverse medical needs of patients, it is crucial to acquire new platform technologies. Therefore, open innovation seeking the collaboration with university biotechnology ventures is becoming increasingly important.

Generally, venture investments involve investment from multiple funds for each company. This has made it difficult for certain pharmaceutical companies to lend exclusive scientific assistance to ventures since multiple pharmaceutical companies could invest in each fund.

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