ニュース
8 VC Firms Certified for AMED Funding Project to Boost Pharma Ecosystem (incl Newton Biocapital)
The Japan Agency for Medical Research and Development (AMED) said on June 30 that it has selected eight companies as certified venture capitals under its funding project to boost the country’s drug discovery ecosystem.
Under the project, AMED will provide funding for drug discovery startups that will receive investments along with hands-on support from certified VCs well-versed in drug discovery. The VC firms will put up around one-third of their investees’ development costs, with the rest to be funded by AMED. The government has set aside budgets totaling 50 billion yen for this project.
The eight VC firms selected are: 1) Remiges Ventures, 2) Fast Track Initiative, 3) DCI Partners, 4) Catalys Pacific, 5) Newton Biocapital Partners, 6) Mitsubishi UFJ Capital, 7) Kyoto University Innovation Capital, and 8) UTokyo Innovation Platform.
AMED sought applications from VCs for around a month from March this year, with hearings with the applicants conducted in June. A total of 24 companies applied for the project.
The agency will now move on to invite drug discovery startups that wish to receive funding under the project, with applications to be accepted for around two months from late July. The selection will be finalized before the end of the year.