CLEVELAND, OHIO, USA and OSAKA, JAPAN, September 25, 2014 – Takeda Pharmaceutical Company Limited (“Takeda”) and BioMotiv, LLC, the therapeutic accelerator company associated with The Harrington Project for Discovery & Development, jointly announced today that Takeda has made a strategic investment in BioMotiv and that they have formed a partnership that will leverage the strengths of both organizations to identify and develop pioneering medical innovations.
The initial investment is 25 oku-yen ($25mm USD) over five years. This investment includes exclusive rights relating to programs sourced by BioMotiv specifically in the therapeutic areas of Immunology & Inflammation and Cardio-metabolic Diseases.
Launched in 2012, The Harrington Project for Discovery & Development is a $250 million national initiative, comprising the not-for-profit Harrington Discovery Institute and BioMotiv, a for-profit therapeutic accelerator. The fundamental aim is to identify, fund and rapidly advance the development of medical breakthroughs from the most innovative and respected research institutions, as well as disease foundations, throughout the USA. This initiative is unique in targeting physician-scientist discoveries and providing bench-to-bedside clinical insights into disorders where the demand for truly innovative, new medicines is paramount.
“This strategic relationship with Takeda provides for a seamless continuum of expertise to aggressively advance physician- scientist derived therapeutic innovations through proof of concept and into clinical development and eventual commercialization”, commented Baiju R. Shah, Chief Executive Officer of BioMotiv. “If we truly want to deliver medical breakthroughs to patients for whom therapeutic options are currently limited, or absent, it is vital to forge these close relationships among innovators, expert resources and pharmaceutical companies at the earliest opportunity.”
Tetsuyuki Maruyama, General Manager of Takeda’s Pharmaceutical Research Division stated, “Takeda has a long and rich history of therapeutic innovation and we are driven by the unmet medical needs of patients. 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.”
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BioMotiv is the mission-driven accelerator associated with The Harrington Project for Discovery & Development, a $250 million national initiative for advancing medicine centered at University Hospitals in Cleveland. The focus is to accelerate breakthrough discoveries from research institutions into therapeutics for patients through an innovative model that efficiently aligns capital and collaborations. The company leverages an experienced team and advisory board to select, fund, and actively manage and advance a portfolio of programs. Learn more at www.biomotiv.com.
Located in Osaka, Japan, Takeda is a research-based global company with its main focus on pharmaceuticals. As the largest pharmaceutical company in Japan and one of the global leaders of the industry, Takeda is committed to strive towards better health for people worldwide through leading innovation in medicine. Additional information about Takeda is available through its corporate website, www.takeda.com