Sumitomo Dainippon and Taiho Pharmaceutical have each invested $30m in the firm, which will target early stage pharmaceutical companies.
Two Japan-based pharmaceutical companies have each committed $30m to a new venture capital firm, Remiges Ventures, which will target early stage drug developers.
Sumitomo Dainippon Pharma and Taiho Pharmaceutical, which operates as a subsidiary of Otsuka Holdings, are backing the firm, which has offices in Massachusetts and Tokyo, they stated in separate press releases last week.
Remiges has so far raised $70m of a targeted $150m for its inaugural fund, Remiges BioPharma Fund, according to an SEC filing.
The fund…
