Dainippon Sumitomo forms capital alliance with Retina Institute on iPS cell technology

2 April 2013

Retina Institute Japan and drug major Dainippon Sumitomo Pharma (TYO: 4506) have signed an agreement that DSP invests into RIJ to discuss an alliance to put iPS cell technology to practical use.

Under the accord, DSP has subscribed for 1.5 billion yen (around $16 million) of third party allocation of shares by RIJ. DSP will exclusively discuss with RIJ a potential collaborate in and outside Japan to use groundbreaking iPS cell technology to cure age-related macular degeneration.

In the Mid-term Business Plan, DSP states it will strengthen activities in cell therapy and regenerative medicines. DSP expects this collaboration with RIJ will contribute to the establishment of its business base for cell therapy and regenerative medicines in the future.

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