Updated on 26 September 2014
The initial investment is said to be around $25 million over five years
Singapore: Japan's largest drug company Takeda Pharmaceutical has entered into a strategic investment partnership with USA-based BioMotiv. The therapeutic accelerator company associated with The Harrington Project for Discovery & Development has also formed a partnership with Takeda. This partnership will leverage the strengths of both organizations to identify and develop pioneering medical innovations.
The initial investment is said to be around $25 million over five years. This investment includes exclusive rights relating to programs sourced by BioMotiv specifically in the therapeutic areas of immunology and inflammation, and cardio-metabolic diseases.
Launched in 2012, The Harrington Project for Discovery & Development is a $250 million national initiative, comprising the not-for-profit Harrington Discovery Institute and BioMotiv, a for-profit therapeutic accelerator.
This is being done in a bid to identify, fund and rapidly advance the development of medical breakthroughs from the most innovative and respected research institutions, as well as disease foundations, throughout the USA.
"This strategic relationship with Takeda provides for a seamless continuum of expertise to aggressively advance physician-scientist derived therapeutic innovations through proof of concept and into clinical development and eventual commercialization," commented Mr Baiju Shah, chief executive of BioMotiv.
He added, "If we truly want to deliver medical breakthroughs to patients for whom therapeutic options are currently limited, or absent, it is vital to forge these close relationships among innovators, expert resources and pharmaceutical companies at the earliest opportunity."