Venturing west

After two years as an LP, Taiho Pharmaceutical Co. Ltd. is taking the plunge and creating its own strategic venture unit. The company isn't providing many details about its $50 million Taiho Ventures, but the track record of newly appointed President Sakae Asanuma suggests the fund will include build-to-buy deals and spinouts.

Taiho Ventures will look for start-ups, with a focus on oncology therapeutics companies in the U.S., Europe and Japan...