Mar. 28, 2013Corporate
Retina Institute Japan and Dainippon Sumitomo Pharma form a capital alliance towards the development of Nobel Prize winning iPS cell technology
Retina Institute Japan K.K. (RIJ) (Headquarters: Fukuoka, Japan; President: Hardy T S Kagimoto, MD) and Dainippon Sumitomo Pharma Co., Ltd. (DSP) (Headquarters: Osaka, Japan; President: Masayo Tada) announce today that the two companies signed an agreement (Agreement) that DSP invests into RIJ to discuss alliance to put iPS cell technology to practical use.
Under the Agreement, DSP has subscribed for 1.5 billion JPY of third party allocation of shares by RIJ. DSP will exclusively discuss with RIJ to collaborate in and outside Japan to use groundbreaking iPS cell technology to cure Age-related Macular Degeneration.
In the Mid-term Business Plan, DSP states it will strengthen activities in cell therapy and regenerative medicines. DSP expects this collaboration with RIJ will contribute to the establishment of its business base for cell therapy and regenerative medicines in the future.
RIJ is one of the RIKEN Ventures and aims to commercialize the world’s first pharmaceutical iPS cell-derived retinal pigment epithelial cells for an estimated 21 billion dollar market based on the license of the patent on the technology developed by RIKEN, one of the leading research institutes in Japan. Moreover, both parties aim to develop other technologies like photo receptor transplantation, retinal regenerative medicine and diagnostic methods to make current refractory retinal diseases to treatable diseases.
RIJ President Hardy T S Kagimoto, MD stated that, “The significance of this development cannot be underestimated. It is a privilege for RIJ to have the opportunity to commercialize this exciting new technology and to transform the lives of millions of patients globally.”
Both parties look forward to working together to deliver therapeutic measures to the patients with refractory retinal disease as early as possible and on this crucial and world leading project in the area of regenerative medicine.
Overview of Retina Institute Japan,
- Company name： Retina Institute Japan KK
- Location： Fukuoka, Japan
- President & CEO： Hardy T S Kagimoto, MD
- Date of establishment： February 24, 2011
- Stock market： Unlisted