BioCentury
ARTICLE | Company News

Japan BCG, Dainippon Sumitomo, Innovation Network Corp. deal

June 2, 2014 7:00 AM UTC

Innovation Network, vaccine company Japan BCG and Dainippon said they made a new joint investment of ¥845 million ($8.3 million) in Create Vaccine Co. Ltd. to fund preclinical development of mucosal tuberculosis (TB) vaccines. The pharma and Japan BCG established the JV in July 2013 to develop new TB vaccine businesses (see BioCentury, Nov. 11, 2013; Feb. 3, 2014 & March 24, 2014).

Dainippon invested ¥281.4 million ($2.8 million), Innovation Network invested ¥283.1 million ($2.8 million), and Japan BCG invested ¥280.6 million ($2.7 million). The three own roughly equal stakes of about 33.3% in the JV. Japan's Innovation Network is a public-private partnership established in July 2009 to provide financial, technological and management support for next-generation businesses. ...