Takeda spinning out eight candidates to newco Scohia

Takeda Pharmaceutical Co. Ltd. (Tokyo:4502) said it will spin out eight diabetes, renal and cardiovascular disease candidates into newco Scohia Pharma Inc. (Fujisawa, Japan). Takeda partnered with drug distributor Medipal Holdings Corp. (Tokyo:7459) and public-private partnership Innovation Network Corporation of Japan (Tokyo, Japan) to launch Scohia with a joint investment of ¥10 billion ($87 million). The partners are aiming for the newco to begin operating April 1.

Takeda spokesperson Ai Yoshikawa told BioCentury that Takeda invested ¥1.95 billion ($17 million) in Scohia and holds a 19.5% stake. Majority owner INCJ will have a 70.5% stake, and Medipal will hold 10%. The partners said the newco will be staffed with Takeda researchers and housed in its Shonan Research Center...