Shionogi Sets Up Research Facility In Massachusetts

- Shionogi of Japan has set up an overseas research facility. TheMassachusetts, USA, plant, capitalized at $400,000, will develop medicines for cancer, immune system diseases, dementia and other serious illnesses. Shionogi will hold a 51% stake in Shionogi BioResearch, and Susumu Tonegawa of MIT, Lan Bo Chen of Harvard and former Roche researcher Werner Hass will also hold stock in the company. The three researchers will advise on projects, the company said. The staff, initially set at 30, will be offered stock options and will receive some of the profits from successful products.