Taiho has reupped its commitment to the second fund of Remiges, which focuses on spinouts of Japanese universities.
Remiges Ventures, a US-based venture capital firm focused on pharmaceutical technologies and medical devices developed by Japanese universities, has closed its second fund at $95m.
Limited partners include pharmaceutical groups EA Pharma, Senju Pharmaceutical and Taiho Pharmaceutical, as well as healthcare-focused investment firm 1Globe Capital.
Taiho committed up to $30m for the fund in 2019. It provided the same amount for Remiges’ first vehicle five years earlier, investing alongside peer Sumitomo Dainippon Pharma, and the fund subsequently closed at $80m in 2017.
Remiges Ventures has teams located in the US city of Seattle and in Tokyo, Japan, and has also formed a biotechnology-themed incubator called RDiscovery.
Tarō Inaba, founding managing partner of Remiges Ventures, said: “We are extremely pleased to close our second fund with six major healthcare companies both in the US and Japan and establish RDiscovery, a new life sciences incubator.
“The team is delighted to be working under our unique cross-border strategy to build new companies based on innovative seed technologies invented by researchers at Japanese academia and investing in early-stage companies globally.”
– A version of this article first appeared on our sister site, Global Corporate Venturing.
