Takeda Pharmaceuticals is buying a minority share in the accelerator.
BioMotiv, an accelerator affiliated with University Hospitals, has secured a $25m investment from Takeda Pharmaceuticals. The Osaka-based company is buying a minority share and will get exclusive access to BioMotiv’s drugs related to cardio-metabolic diseases and diseases around immunology and inflammation.
The agreement will last for five years, and BioMotiv is hoping its partnership with Japan’s largest drug manufacturer will help it attract other big stakeholders. Takeda was founded in 1781 and has grown to a company with some 30,000 employees and a revenue of approximately $17bn.
BioMotiv was launched in 2012 and functions as the for-profit arm of University Hospitals. The accelerator was set up under the Harrington Project for Discovery and Development, worth $250m, and focused on drug discovery. BioMotiv and the Harrington Project have since raised a further $200m.
BioMotiv’s stated mission is to identify promising research at universities and laboratories, before providing gap funding and helping with clinical trials. It is the clinical trials where BioMotiv is looking towards big pharma for help, and where more partners like Takeda are needed.
Tetsuyuki Maruyama, general manager at Takeda’s Pharmaceutical Research Division, said: “Participation in the Harrington Project offers an important opportunity to stay closely connected to physician-patient dialog, and work with a broader community of individuals committed to truly impactful medical innovation. We are delighted to add BioMotiv to our growing list of partners.”
