Takeda, Astellas and Sumitomo Mitsui Banking announce framework agreement to create a joint venture to incubate early drug discovery programs

TOKYO, April 22, 2024 /PRNewswire/ — Takeda Pharmaceutical Company (NYSE:) Limited (TSE: 4502/NYSE: TAK, President and CEO; Christophe Weber“Takeda”), Astellas Pharma Inc. (TSE: 4503, President and CEO: Naoki Okamura“Astella”), e Sumitomo Mitsui (NYSE:) Banking company (President and CEO: Akihiro Fukutome“SMBC”) announced today that the three companies have signed a framework agreement April 22, 2024, to establish a joint venture company. The new company will be dedicated to incubation¹ of the first drug discovery programs, originating mainly from Japan and towards the creation of innovative therapies.

1. Background

Japan, as one of the world’s leaders in drug discovery and development, is home to both world-class academic institutions conducting innovative basic research in drug discovery and global pharmaceutical companies, with extensive experience in early-stage drug research and development. Both have numerous early drug discovery programs with game-changing potential. However, in recent years, the progression of academic discoveries from desks to bedsides, known colloquially as the “valley of death,” has posed a major challenge when it comes to unlocking the full potential of innovative technologies and seed resources originating in Japan . In response to this challenge, the three companies have been engaged in negotiations to establish a joint venture that will seamlessly cover the entire drug discovery process, ranging from initial drug discovery research through to start-up initiation for drug discovery.

2. Joint venture company: Planned overview

Toshio Fujimoto will concurrently serve as President and Representative Director of iPark Institute Co., Ltd.

3. Corporate focus

The joint venture will focus on the following three aspects:

• Advancing innovative drug discovery programs originating primarily from Japan in the global pharmaceutical market.
• Incubate globally competitive technologies for drug discovery and foster entrepreneurship.
• Unlocking the potential of the drug discovery ecosystem in Japan through the creation of high-calibre start-ups.

In addition to establishing the joint venture company, Takeda and Astellas will provide support to the joint venture company by leveraging their expertise gained from global drug discovery research and development, with the aim of accelerating open innovation in drug discovery drugs in early stages and towards the creation of start-ups. leading businesses for the benefit of society.

The joint venture plans to launch incubation activities working in collaboration with academia, pharmaceutical companies and start-ups around the world. Japan to enable access to potentially transformative early drug discovery programs.

4. Future projects

The three companies will further discuss the details of the agreement to complete the establishment of the joint venture and start operations, with the aim of quickly launching the new incubation activities.

^＊1 Incubation: services and activities that support entrepreneurship and business creation.

About Takeda
Takeda is focused on creating better health for people and a brighter future for the world. Our goal is to discover and deliver life-transforming treatments in our core therapeutic and commercial areas, including gastrointestinal and inflammation, rare diseases, plasma-derived therapies, oncology, neuroscience and vaccines. Together with our partners, we aim to improve the patient experience and advance a new frontier of treatment options through our dynamic and diverse pipeline. As a leading values-based, R&D-driven biopharmaceutical company headquartered in Japan, we are guided by our commitment to patients, our people and the planet. Our employees in approximately 80 countries and regions are driven by our purpose and rooted in the values ​​that have defined us for more than two centuries. For more information, visit www.takeda.com.

Speaking of Astella
Astellas Pharma Inc. is a pharmaceutical company that operates in more than 70 countries around the world. We are promoting the Focus Area approach, designed to identify opportunities for the continuous creation of new medicines to address diseases with high unmet medical need by focusing on the biology and modality. Additionally, we are also looking beyond our core focus on Rx to create Rx+ ^® healthcare solutions that combine our skills and knowledge with cutting-edge technologies in different sectors from external partners. Through these efforts, Astellas is at the forefront of healthcare change to transform innovative science into VALUE for patients. For more information, please visit our website at https://www.astellas.com/en.

From Sumitomo Mitsui Banking Company
Sumitomo Mitsui Banking Company (SMBC) is a subsidiary of Sumitomo Mitsui Financial Group Inc., which operates 455 branches in Japan (excluding branches and agents) and 19 abroad (excluding branches and representative offices). For more information, visit https://www.smbc.co.jp/global/.

Cautionary notes（Astella）
In this press release, statements made with respect to current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about Astellas’ future performance. These statements are based on management’s current assumptions and beliefs in light of information currently available to management and involve known and unknown risks and uncertainties. A number of factors could cause actual results to differ materially from those discussed in the forward-looking statements. Such factors include, but are not limited to: (i) changes in general economic conditions and laws and regulations relating to pharmaceutical markets, (ii) exchange rate fluctuations, (iii) delays in the launch of new products, ( (iv) Astellas’ failure to effectively market existing and new products, (v) Astellas’ failure to continue to effectively research and develop products accepted by customers in highly competitive markets, and (vi) infringements of Astellas’ intellectual property rights by third parties. Information about pharmaceutical products (including products currently in development) included in this press release is not intended to constitute advertising or medical advice.