FOSTER CITY, Calif., Aug. 23 /PRNewswire/ -- MediBIC ALLIANCE, a subsidiary of MediBIC, and Daiichi Pharmaceutical Co., Ltd. ("Daiichi") announced the launch of a venture capital investment fund (the "Fund") targeting biotechnology ventures mainly in the US and Europe.
The Fund will invest in early stage private biotechnology companies mainly in North America and Europe with a focus on a specific technology area related to drug development. The Fund will be managed by MediBIC Alliance, an investment arm of MediBIC. There will be a panel of academic experts in the US providing scientific advice to the Fund.
The Fund will be investing in promising early stage biotech companies in the US and Europe. The investment strategy and focus of the Fund will primarily be driven by the needs of the Japanese pharmaceutical industry and particularly the strategic direction of Daiichi. MediBIC is a publicly traded biotech company with diverse activities ranging from therapeutics to informatics and consulting services. The company has established strong relationships with leading Japanese pharmaceutical companies gaining insights on the needs of the industry, and is active within the industry on key technology integration and other activities to improve drug discovery. MediBIC Alliance, a wholly owned subsidiary of MediBIC, is involved in investment banking and IPO support activities for a broad range of biotech companies in Japan and internationally. MediBIC Alliance will manage the Fund in collaboration and advice from MediBIC's US operations.
"We are very excited to be collaborating on this fund with Daiichi, one of Japan's premier pharmaceutical companies. This fund is our first dedicated to investments in the US and Europe. We look forward to making the Fund a success utilizing the combined expertise at MediBIC and Daiichi," said Ali R. Zareh, Senior Vice President of Anexus Pharmaceuticals (a subsidiary of MediBIC) and Managing Director of MediBIC's US Operations. "This is a good time for investments in the US and European biotech markets, especially in companies with key technology or therapeutic approaches."
About Daiichi Pharmaceutical Co., Ltd.
Daiichi Pharmaceutical Co., Ltd. , headquartered in Tokyo, was established in 1918 and employs over 7,300 people. The Company achieved sales of JPY 329 billion and pre-tax profit of JPY65 billion in the last financial year. Daiichi is in the process of business integration with another pharmaceutical company, Sankyo Co., Ltd., and will become Japanese second largest pharmaceutical company as Daiichi Sankyo Co., Ltd.
For more information on Daiichi Pharmaceutical, visit www.daiichipharm.co.jp.
MediBIC (Mothers: 2369) was established in February 2000 with a mission to bring to Japan the enthusiasm and substantial benefit of "genomic drug discovery." MediBIC provides R&D consulting and informatics services to Japanese pharmaceutical companies and is also engaged in drug discovery. The company uses its expertise in cutting edge drug discovery methodologies to actively integrate appropriate technologies developed and utilized by Western pharmaceutical companies to improve the Japanese pharmaceutical R&D.
For more information on MediBIC, visit www.medibic.com.
About MediBIC Alliance Co., Ltd
MediBIC Alliance Co., Ltd. is the investment arm of MediBIC. Since its establishment in 2004, MediBIC Alliance has dedicated itself to investing in promising biotech ventures.
For more information on MediBIC Alliance, visit www.medibicalliance.com.
Ali R. Zareh
Managing Director, US Operations
c/o Anexus Pharmaceuticals
950 Tower Lane, Suite 1775
Foster City, CA 94404
MediBIC Alliance Co., Ltd