Open Innovation for the Development of Emerging technologies financial update

Daiichi Sankyo Co. Ltd. (Tokyo:4568; Osaka:4568, Tokyo, Japan) and investment firm Mitsubishi UFJ Capital launched a ¥1 billion ($10.1 million) fund, which will invest in seed-stage companies at Japanese universities. The Open Innovation for the Development of Emerging technologies (OiDE) fund will include ¥100 million ($1 million) from Daiichi, up to ¥200 million ($2 million) from Mitsubishi UFJ and ¥450 million ($4.5 million) from Japanese government agency Organization for Small & Medium Enterprises and Regional Innovation. Daiichi said the fund will invest in eight companies, with its first investment expected within six months. ...