SAN JOSE, Calif., Jan. 8, 2013 /PRNewswire/ -- InCube Labs, a life sciences research lab focused on developing medical breakthroughs that dramatically improve patient outcomes, today announced that it has entered into a strategic partnership with Teijin Limited, a worldwide leader in technology innovation. Headquartered in Japan and with around 150 companies and 17,000 employees in over 20 countries worldwide, Teijin will have regular access to InCube Labs' leadership team to help define new strategic growth opportunities for Teijin's healthcare business.
As part of the agreement, Teijin will also invest in InCube Ventures, InCube's life sciences venture fund. Through its strategic investment in InCube Ventures, Teijin will have access to InCube's network, portfolio companies and partners.
"Our objective was to find a US partner that deeply understands the market including the technology and business opportunities in healthcare," said Kazuo Imose, Teijin Group Corporate Officer & General Manager, New Business Incubation & Development Division. "We have been extremely impressed with InCube Labs' deep domain knowledge and impressive track record of healthcare innovation and company formation. We are confident that Mir Imran and the InCube Labs team will provide tremendous value as we assess opportunities in the healthcare space. We are proud to participate in InCube Labs' network."
"Teijin has a long history of innovation which to date has centered on its novel materials from polyesters and aramids to polycarbonates. The company has been expanding beyond its materials business, and now is pursuing a range of additional market opportunities including healthcare," said Mir Imran, Chairman & CEO, InCube Labs. "We are in a strong position to help Teijin identify and pursue the most promising and strategic new healthcare opportunities to grow Teijin's business."
Teijin has declared healthcare as one of its most promising growth businesses. In Fiscal 2011, healthcare including pharmaceuticals and home healthcare accounted for 18% of Teijin's business. Teijin aims to further expand the business by creating new solutions based on materials and healthcare technologies.
About InCube Labs
Based in Silicon Valley and San Antonio, InCube Labs is a life sciences research lab focused on developing medical breakthroughs that dramatically improve patient outcomes. Our multi-disciplinary approach integrates traditional device technologies such as electronics, software, mechanical engineering and material science, with innovations from the pharmaceutical industry, often involving protein chemistry, pharmacology and cell biology. InCube is led by Mir Imran, an accomplished medical innovator, entrepreneur and venture capitalist, who has founded more than 20 life sciences companies and holds more than 200 patents. Many of Imran's innovations have resulted in new standards of care, including the first FDA-approved Automatic Implantable Cardioverter Defibrillator. For more information, please go to www.incubelabs.com.
About the Teijin Group
Teijin (TSE 3401) is a technology-driven global group offering advanced solutions in the areas of sustainable transportation, information and electronics, safety and protection, environment and energy, and healthcare. Its main fields of operation are high-performance fibers such as aramid, carbon fibers & composites, healthcare, films, resin & plastic processing, polyester fibers, products converting and IT. The group has some 150 companies and around 17,000 employees spread out over 20 countries worldwide. It posted consolidated sales of JPY 854.4 billion (USD 10.7 billion) and total assets of JPY 762.1 billion (USD 9.5 billion) in the fiscal year ending March 31, 2012. For more information, please go to www.teijin.co.jp.
SOURCE InCube Labs