Daiichi, UFJ, Japanese universities launch hyperthermia newco

Daiichi Sankyo Co. Ltd. (Tokyo:4568), Mitsubishi UFJ Capital Co. Ltd. (Tokyo, Japan), Nagoya City University and Chubu University launched an open research newco OiDE RYO-UN Inc. (Tokyo, Japan) to focus on developing a new cancer hyperthermia therapy.

RYO-UN will be wholly funded by the Open Innovation for the Development of Emerging technologies (OiDE) fund, which Mitsubishi and Daiichi co-launched in 2013 with ¥1 billion ($10.1 million) to invest in seed-stage companies at Japanese universities (see BioCentury, Sept. 23, 2013)...