TOKYO, Sept. 8 /PRNewswire/ -- Daiichi Sankyo Company, Limited (President & CEO: Takashi Shoda) has announced today that it will enhance its research and development activities by investing in Kearney Venture Partners, L.P., a limited partnership that invests primarily in U.S. life science companies (the “Fund”).
The Fund will make equity investments in the emerging life sciences and medical technology sectors, including medical devices, specialty pharmaceuticals, emerging biopharmaceutical, drug delivery technologies, diagnostics and biotechnology. Daiichi Sankyo, the sole pharmaceutical partner participating in the Fund, may seek to establish research collaborations with the companies in the Fund and retains the right of first refusal to make additional investments in the Fund’s portfolio of companies. Daiichi Sankyo will invest $60 million in the $180 million ten-year Fund and will be a member of the Fund’s Advisory Board.
Currently, Daiichi Sankyo has already established productive relationships with several U.S. biotechnology companies, ranging from platform technology to drug discovery. This participation in the Fund creates valuable support for novel products and innovative technologies, and expands possible commercial opportunities for Daiichi Sankyo.
Kearney Venture Partners, L.P. is the second fund in which Daiichi Sankyo Company, Limited has participated. In 2003, Daiichi Sankyo established a financial relationship with the investment firm of Thomas Weisel Partners. Through that relationship, the Company obtained information about opportunities for in-licensing and co-development of novel early stage compounds. One such opportunity resulted in the current Daiichi Sankyo/KAI Pharmaceuticals alliance.
About Daiichi Sankyo Company, Limited
DAIICHI SANKYO COMPANY, LIMITED was established on September 28, 2005 as the joint holding company of two major Japanese pharmaceutical companies -- Sankyo Co., Ltd. and Daiichi Pharmaceutical Co., Ltd. DAIICHI SANKYO is a global pharmaceutical innovator, continuously generating innovative drugs and services and maximizing its corporate value. Sankyo and Daiichi Pharmaceutical have a broad range of major drug products on the Japanese market, including the antihypertensive Olmetec® (olmesartan medoxomil), which is marketed in the U.S. as Benicar®, and the synthetic antibacterial agent Cravit® (levofloxacin). Both companies specialize in the field of cardiovascular disease and have used their cumulative knowledge and expertise as a foundation for developing an abundant product lineup and R&D pipeline.
For more information, please refer to the company website, at http://www.daiichisankyo.co.jp/eng.
Source: Daiichi Sankyo, Inc.; Daiichi Sankyo Co., Ltd.
