Takeda Pharmaceuticals Bets on Fate Therapeutics
5/10/2011 7:09:42 AM
Osaka, Japan & San Diego, California, May 9, 2011 – Takeda Pharmaceutical Company Limited (“Takeda”) and Fate Therapeutics, Inc. (“Fate”) jointly announced today that Takeda’s corporate venture arm, Takeda Ventures, Inc. (Palo Alto, California, “TVI”) has made an equity investment in Fate Therapeutics, Inc. The investment is consistent with the stated intention of Takeda to develop a stronger foundation in regenerative medicines. Fate Therapeutics is developing innovative products based on the modulation of stem cell pathways. The lead Stem Cell Modulator (SCM) of Fate Therapeutics is FT1050 for enhancing hematopoietic stem cell (HSC) transplant, which is currently undergoing clinical testing at the Dana Farber Cancer Institute and Massachusetts General Hospital in adult patients with hematologic malignancies, such as leukemia and lymphoma.
The discovery engine of Fate Therapeutics utilizes the most advanced biologics and reprogramming technologies for identifying promising points of therapeutic intervention. Fate Therapeutics was named a Top 10 Innovator in Biotechnology for 2010 by Fast Company, and its discovery engine has received numerous accolades, including being recognized as the Top Technology of 2009 by The Scientist and having received the 2009 North American Technology Innovation Award from Frost & Sullivan. Its investors also include ARCH Venture Partners, OVP Venture Partners, Polaris Venture Partners and Venrock, and a syndicate of corporate investors including Astellas Venture Management, Genzyme Ventures and a third undisclosed corporate investor.
“Fate Therapeutics is a world-leading company in stem cell science-based therapeutics, using the most advanced rare cell isolation and cell state characterization technologies to elucidate disease biology and identify selective targets for biologics-based therapeutics. This relationship between Fate and Takeda significantly complements Takeda’s own research and development in regenerative medicine,” said Dr. Graeme Martin, President & CEO at TVI.
“As a recognized leader in metabolic diseases such as diabetes and oncology disease therapeutics, we are delighted for Takeda to support our efforts to develop breakthrough treatments using stem cell modulators,” said Dr. John Mendlein, Executive Chairman of Fate Therapeutics. “We look forward to tapping into the high-caliber scientific and commercial expertise of Takeda as we continue to develop our innovative pipeline of regenerative medicines.”